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LOL..now thats funny...I screen printed the screen with the dates and times of the posts. Some where up for about 2 hours and now have been removed because of my complaint. So the fair and balanced didnt kick in until I said something and I have the screen print to prove what times the posts that are now gone were made. Never has one of my violating posts stayed on the screen for over 1 hour.
So fair and balanced is in the eye of the beholder I guess.
But on another note. What if this posters post is accurate. I recall the same thing happening a few months ago to another poster, and those bashing him turned out to be wrong, according to another long here, it was a friend of theirs. But that incident went on as well for many many posts, and they never did get pulled. I also pointed that out to Matt last week, that key people here did the same thing I did months earlier and nothing was done. And they were wrong about who the poster was as well.
I bet you this one wont stay on the board over 1 hour.
waah is right when certain posters posts dissappear because they are outing a pumper, and others do the same thing about a sup[posed basher for hours now and not a one pulled. I will be sending all of this afternoons posts to matt however to show him the standards here.
I had a post removed last week for exposing someone here using multiple alias'. Then was told by Matt it was off topic. Yet look at all these posts today doing the same thing and none pulled.
Oh when he was pumping the stock, many here hung on every word he said, and used those words here over and over. Now that he raises concerns all of a sudden hes never been right...LOL
Was he right when it ran above .70?
Sorry Steeler, I didnt include you, because I dont recall you posting on the subject. Was referring to those actively posting on the matter and should of made that clear. My bad.
As for Clawman saying he didnt however, I disagree. Early on he did supported it because as he pointed out it was a planned sale under an approved accountability plan. It was later he started posting concerns about it.
You are absolutely correct. Every top long poster on this board supported and defended his actions, and attacked those who had concerns.
It didnt become a problem for most of them, until the pps continously declined for over a month I think it was. Only then did some of them start suggesting he should have waited until the market could absorb the Cornell shares. And the timing was right after Cornell had just exercised the second lot of 20 million shares to dump if I remember correctly. The market had already absorbed Cornells first 20 million and it took over a month to do that, and he sells right on the back of the next 20 million here, and everyone claimed he was entitled and bashers were wrong.
I dont believe you did read that somewhere, since you asked. I dont recall seeing any posts that stated NEOM wasnt going to sell the paint business, unless it was one of the many deleted yesterday.
The pps does not matter. NEOM has to be cash flow positive to get away from Cornell, and thats not gonna happen in the next 6 months or longer. Someone yesterday posted that by selling the paint business it makes NEOM cash flow positive. I believe it was IN4IT. That too is false. That just gives them some cash to work with, doesnt make them cash flow positive. Bottom line is until NEOM can fund their operations off incoming revenue, they will be under Cornells control.
Also JP stated he believes a new strike price is being negotiated with the acquired companies. Another false statement. The strike price was a done deal when NEOM took control of these companies. They arent going to be idiots and say, ok you bought us, but after the fact, we will now lower our buy out price for you. The only negotiations that may be going on with these companies is the delay of when the difference in pps has to be paid, or the agreement to take all stock for the difference in pps. And I think the all stock option is going to be a hard sell to these executives.
my last post for the day so I am going to combine several responses in one.
First on the paint division. The language about Dupont and PPG is in my opinion only a teaser to appease shareholders. Whats more important is the lack of any info on the sale price to the mexican distributor. Obviously if he has already arranged financing, they spoke of a price. You cant go out asking for financing without knowing approximately how much you need to borrow. Having said that, in my opinion if Dupont or PPG were interested you would not have seen the LOI signed with the distributor. Surely everyone here knows these talks more then likely went on for some time, and Dupont and PPG would have been the first ones in the discussion, since they had a partnership with NEOM. Apparently the best deal they could get was the distributor.
Now on Jonesies post. Yes thats classic pump and dump. Get enough buddies together to cover a wide base of stock message boards and tout whatever company, and while theres a buying frenzy dump your shares. Whats worse however is if I am not mistaken streetzzz is a moderator on one of the message boards here. I also noticed on that board he posted the same message every few minutes with no word changes etc(SPAM). Makes one wonder about where they are going to get their stock info doesnt it?
QCURT.....even if they only exercise the 50 million at a pps of .13 or better, thats a net gain of 4 million dollars just off the first batch of warrants in the new deal. They only loaned 5 million and recover 4 million right away. So the risk is lowered. On top of these 4 new batches of warrants, they also got the first 3 batches price lowered as well. Its a win win for them. They know they can sell enough between now and whenever in the very near future, to break even on their investment, and if things do go well for NEOM all the other warrants are just more gravy for them. Cornell isnt stupid.
They have 50 million warrants they can exercise at .05 under the new deal. Even at the .13 thats about 160 percent profit on the first batch. Then they have another 65 million at .10 and even that is a 30 percent profit. far better then you or I are fairing right now.
Clawman...you own post contradicts your opinion. You say that it includes all assets not already pledged. Yet in the definition below that opinion, it says that the advantage of debentures is that they leave some assets unencumbered "thereby leaving them open for subsequent financing[/]"
So your opinion and this statement are in direct conflict with each other. If some assets are unencumbered for future financing, then a debenture dont include ALL assets.
Also your definition dont give a time when the other assets may be pledged for future financing. Just says whats left after all pledges are met is the collateral on the debentures. That could imply at the time of default or other conditions, and not at the time of signing the debenture. NEOM didnt leave any aspect unencumbered in this arrangement the best I can tell. They even have to surrender 100 percent of the stock of the entire company and its affiliates.
""""""The advantage of debentures to the issuer is they leave specific assets unencumbered, and thereby leave them open for subsequent financing."
"""""
That dividend is now up to Cornell and not the company. This is the language from the new agreement.......pretty good when we have to ask Cornell for something the company promised us almost a year ago.
"""""The Company shall not declare or pay any dividend of any kind, in cash or in property, on any class of its capital stock, nor purchase, redeem, retire or otherwise acquire for value any shares of such stock, nor make any distribution of any kind in respect thereof, nor make any return of capital to shareholders, nor make any payments in respect of any pension, profit sharing, retirement, stock option, stock bonus, incentive compensation or similar plan (except as required or permitted hereunder), without the prior written consent of the Secured Party.
""""""
Because NEOM has to either register the acquisition shares to make them sellable, or after 1 year from the acquisition they become sellable. At that time NEOM has to compensate for the share price difference in cash. NEOM has no cash to settle next January or February which is only months away. Even the 5 million from Cornell will only fund them through November if that long.
They can not register any other shares to fund the company going forward until the acquisition shares are registered, and they need to raise money fast, so they need to register those shares fast. They can not do that under the current agreement, because the day the SEC declares the registration effective, they have to make up the difference in cash between the guaranteed pps and the current pps. So they have to renogiate at least that aspect of the original contract. Further more isnt one shareholder from one of the acquired companies already in a suit for breach of contract, because NEOM hadnt filed the shares on time, making their stock sellable?
and what about our PUPS that NEOM was buying more and more of to tie into the paint business? Will the PUPS relationship stay the same. Remember NEOM owns shares of PUPS as well in addition to the shares they promised as dividends.
Didnt all their other LOIs have the intitial agreed price in them. Isnt that why HIP CRICKET didnt get done, because the LOI said one thing and HIP CRICKET changed their mind?
Drmyke3........they will have to follow up with an SEC filing in the next day or two, and the price should be in there. BTW what happened to that cash cow, that the sky was the limit on what they could charge, because it was a one of a kind operation. Oh and the tales of how big it was going to be in CHINA and how that would fund NEOM indefinately.
I want to clarify some misinformation put out repeatedly yesterday.
1. On the LOCK UP issue. It was stated that no officers or directors can sell any stock until the debenture is settled. That is false. It states they cant sell any securities without the PERMISSION OF THE INVESTOR(CORNELL)
2. It was stated that the collateral is standard on any loan agreement such as this. Again false. The original agreement dated february was for 27 million in series c preferred. The lat 5 million of that 27 million was supposed to be executed by CORNELL after the shares were approved by the SEC. All they did is move that date up, requiring CORNELL exercise the additional 5 million now. So if the company assets werent required in the original agreement as collateral, why for the last 5 million portion of it do they all of a sudden become necessary. Also they are required to bring all stock(100 percent) to CORNELL for all companies and subsidies, with blank stock powers.
3. I didnt see anything in the modified agreement that states CORNELL can not sell shares. And at this time they have 50 million new warrants they can exercise at .05 a share and sell, and 65 million shares they can exerciseat .10 a share and sell. Thats 115 million shares below market value they can dump if they so choose.
I think you have that wrong. You state 10 million hasnt been sold and Cornell would get 8 million and NEOM 2 million.
First these were warrants for Cornell to purchase NEOM common stock. Not a sales agreement as you explain it. The only part that is right is NEOM would get 2 million. Not because its a sellers agreement where Cornell sells the stock and they split the difference. Cornell buys the stock through exercise of its warrants. The exercise price Cornell must pay on the 10 million shares(not dollars) is .20 a share. So 10 million shares times .20 exercise price is the 2 million NEOM would recieve. What Cornell does with the shares at that time is Cornells business, and at the current pps they surely wouldnt get 8 million dollars, they would take a loss if they exercised the warrants. NEOM would still get the 2 million because the warrants exercise price hasnt changed I dont think, without reviewing these new documents. I am waiting on the SEC doc to be filed on the 5 million before I rule on that however. Cornell also recieved a 2.1(?) million fee from NEOM for entering into that SEDA agreement, in addition to the warrants for 50 million shares at an exercise price of .20 a share.
No stock can be transferred to Cornell to sell for NEOM on any of the agreements. The stock is sold to Cornell, not transferred to them. What they do after that is their business not neoms. NEOM gets the capital from selling the shares to Cornell, not by what Cornell does with the shares after that as you claim. Cornell could hold those shares 5 years, even though we know they wont, but that dont matter. They are not selling shares for NEOM. They are buying shares from NEOM and then selling them for CORNELL.
You state that 75 million shares was the fee for Cornell for the 2005 SEDA and Cornell had to sell those shares to collect their fee. That statement is so false. The fee was 2.1 million dollars I believe, and the 60 million shares was not a fee settlement, but an added enticement for Cornell to enter the agreement. Those warrants were a bonus carrot held in Cornells face. To date they have exercised 40 million of those shares and then sold them, not to collect their fees from NEOM, but to make a hefty profit, of around 4 to 5 million based on my best estimate. Thats in addition to the 2.1 million fee they charged NEOM.
yes you are right. But with the large number of retail shareholders, the pps wont drop to .03. Cornell knows that just as most here know that. I for one, who has looked at this stock from a financial aspect, instaed of a speculative aspect, dont see the bottom below .10, unless there is more drastic actions by management. Of course it could still drop below that level but it wouldnt be sustained.
NEOM could do nothing for the next 6 months and the longs would still hold on, claiming somethings ready to break, so there wont be no mass exodus.
Maybe you have no knowledge of financing. You have 1 asset your real estate. You cant divide it up to cover a 10,000 loan. And the lender if he forecloses cant take no more value from your real estate then the 10,000.00 loan and any fees. The remaining proceeds if your real estate is sold to settle that 10,000.00 loan goes back to you, not the lender who got their 10,000.00 back. NEOM had lots of assets, and according to you all here 1 patent was worth over 5 million. They can divide the assets to cover a loan, unlike a piece of real estate thats all one piece.
OT.yes you do know they were removed because there is a gap in the numbers, but that wasnt my point. You and I debated weeks ago whether OT was allowed and you stated emphatically they were and if I didnt like it to take it up with MATT.
And every day since that debate there have been several off topic posts here about nascar races, football, drinking lattes at starbucks etc and non were removed, yet the other day mine dissappears and MATT says it was off topic. That selective policing of the board whether you want to admit it or not. And yes MATT reviews it, but I didnt get an answer for 2 days and learned he was travelling. But he dont review the ones you let stay on the board that should be pulled does he? And according to him OT is not allowed contrary to your statement in the earlier debate.
8eights.can you name 1 thing you have bought where you had to put up collateral that was more then the value of what you were borrowing? Even if you want to purchase a car and your only collateral is your home, they can only take the value of the car from the home if you default. But they surely dont say.........hey wait we also want your furniture and everything else you own as collateral, unless you have zero equity in the home.
OT.since you brought up the rules and how they work I believe its ok to respond. Your statement that moderators have no control is false. Two days ago a post of mine was removed for being off topic, according to the reply I got back from Matt. Yet you yourself stated and I forwarded your post to him that off topic was allowed, and it occurs here daily, yet only certain posters posts are removed, but you say moderators have no control?
when you buy anything the security is less then or equal to the loan. not more then the loan
how about because they are broke and desperate? And thats a fact. They had to come up with financing this month no matter what the cost, and anyone who looked at the financials and faced reality knew this. I stated it here weeks ago when the quarterly was released and they were down to just around 3 million dollars in cash.
That is bull crap.Cornell makes their money here and now regardless of how NEOM fares down the road. Just like the 40 million shares they sold for a nice profit that aided in driving the pps down. Did they need NEOM to be successful to make those millions? Heck no.
Even if Qode is launched it will be months to a year before it gains enough traction to produce any significant revenue or profits.So whats your point?
yes and you said it was all positive news and to load up the truck, and both prs are nothing but bad news for shareholders. So you owe the board an apology for the gross deception you perpetrated.
Hey Blackydog....just got my internet service restored. Been having trouble for 3 months and finally they put in a new Canopy system and I am the first one on it, and its working great now. I am on wireless internet and it got so bad I was slower then dial up.
First let me say, I told you all there would be a finance deal announced within 30 days of the quarterly report being out, and guess what?
Secondly I havent read all the prs yet but the 5 million financing is a crock of you know what. Not only did Cornell get a sweet deal on the new financing, but the exercise price of their old warrants was also lowered drastically to well below market value.
I have to read the prs to give a detailed analysis, but I could of told you the hip crricket deal wouldnt fly. I also told you if Cornell came back to the table after the last breach, it would be for a hefty price.
This 5 million only buys them 1 more quarter of funds, and in the meantime they still cannot register the shares to complete the acquisitions of the other companies, because 5 million is about 20 million short of the cash they would need.
On that issue I am not certain if NEOM is paying the 1 percent penalty or not, but you are right, what we discussed now that I reflect back, is the 2.1 million fee NEOM paid Cornell, which they forfiet if they dont file the SEDA.
On another note, I was just going back through 2nd quarter and 3rd quarter filings, and in 2nd quarter NEOM states they shipped 825,000.00 in products to China. In 3rd quarter filing they say they shipped and invoiced 758,000.00 in products to china and havent been paid. So it looks like they may have recieved about 70,000.00 or its a mistake.
Also its debt to the acquisition companies is over 25 million cash at a share price of .165. I think I said in an earlier post 10 million....Page 60
And finally I also noted that NEOM states in 3rd quarter filing that they expect to be cash flow negative for the next 12 months.
""""NeoMedia expects to continue to generate negative operational cashflow over the next 12 months as it continues to invest in the qode® launch.
""""" Page 53 under
CURRENT PERIOD ACTIVITY
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001144204-06-031655&Type=HTML
They pulled the S-3 because they didnt have the 10 million in cash that would of been required upon its approval to complete the acquisitions. Not because they realized they could do it with fewer shares as you suggest.
And the fact is based on their cash available at the end of the 2nd quarter, and their burn rate, they are effectively broke right now. Waiting until the launch of Qode to secure financing is not an option at this time. Refiling after the launch of Qode, would not work either, since there is no telling how long it would take for approval. Could be months before the SEC approves the S-3 and NEOM dont have the capital to operate that long.
I posted that There would most likely be a filing within 30 days of the date the quarterly was filed, and I still think it will come in that time frame or close to it. Surly before the end of September which is the quarters end. They wont want to file the next quarters report showing they were broke at the end of the quarter, or I hope they wont want to anyway.
By the way they already defaulted with Cornell on the timely filing issue and I thought it was discussed here they were penalized.
Search boxes have nothing to do with NEOM or NEOMS patents. Search boxes are for internet search, not direct connections, and GOOGLE is the king of internet search at this time. Thats why your article also states the gate keepers will be the cable companies and mobile phone companies. Where does it say in that article NEOM will be the gate keeper, since they supposedly own the bridge?
So now it was all TS fault and his followers. How about all the unfounded message board pump. We saw yesterday just how effective that is as well, with the unfounded claims of a short squeeze in progress and the buying frenzy that followed.
As much false claims as I see on this board alone is enough to draw in new investors, who later become disgruntled and sell off resulting in the pps lowering even more.
The big news you speak of is the same old line we been hearing since I began posting here. It was coming in December. Then it was coming in January, and when all that acquisition news hit, it was the catalyst. When the pps didnt rise, all of a sudden that wasnt the big news, and the big news would be an announcement about an 800 pound gorilla. Then all of a sudden when the company announced the relaunch of PC under a new name, all of a sudden thats the big news that will make this thing go. So TS isnt the only one sparked interest with claims that never developed or amounted to nothing. A lot of posters on these message boards did exactly the same thing and helped suck in new investors at inflated prices.
The dilution etc. which were major concerns was only raised by the so called basher early on, and later when the 4 billion additional shares were being requested did others here see it as an issue. No one here even hinted that these acquisitions might not be the pie in the sky some here were claiming, except the supposed basher. It only became a problem for some here when the 1st full quarters numbers were released. I can go on and on. I even early on pointed out the guaranteed share price in those agreements, and was attacked here relentlessly. Now all of a sudden even you acknowledge after the fact, that its a problem. Go figure. Take about Monday morning quarterbacking, there is plenty of that goes on here, but its ok if its a long.
I never claimed to be an ATTORNEY, even in that post you put up. Funny again how you all see things that arent there. I used the word attorney several times referring to the case, but that was it. Its so funny to see posters spend the time to go dig up an old post, repost it, and then with their own evidence misrepresent what it says.
yes if you have the money in the account that is possible.
But lets say, you have 20,000.00 in buying power in both your cash and marginable securities. That morning you buy 20,000.00 worth of XYZ company. Later that same day you sell XYZ for a total amount of 22.000.00. That 22.000.00 dont go back into your acvcount until the original buy order clears 3 days later. So effectively, for 3 days you have no available buying power to buy anything, unless you add more cash to your account.
So the point I was making is, you cant buy and sell limitless. You have to have extra funds in the account to cover any new buys until the original clears after 3 business days.
Thats not true. I have a margin account with TDameritrade, and their policy is if you buy a stock and sell it the same day, those funds arent put back in your account until the 3 business days is up from the buy order date. If you buy a stock and sell it after the buy order has cleared, the funds from the sell become available immediately.
I also on my margin account just enetered an order to short sell 100 shares of NEOM at .20 just to try it and got a response, "YOU CAN NOT SHORT SELL OTC BULLETIN BOARD SECURITIES" in capital red letters.
institutions can get away with things retail investors cant. And I dont think there are any institutions posting on this board. I dont think you will find any broker in the US that allows the retail investor to short penny stocks, but there may be 1 out there somewhere. And how many of these US firms, conduct business outside the US, where they also have access to the foriegn markets?
Lupetto.that is false and that was my argument not Pampalons. The attorneys are officers of the court and as such, any statements they make are supposed to be truthful as well.
Thats why when most attorneys know their client is guilty they try to get off the case, so they dont stand in the court argueing what they know to be a lie.
thats fine if you live outside the US. Penny stocks cant be shorted in the US and most the posters here live in the US, so I dont think there are posters here shorting the stock, and then bashing it to lower the pps.