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YJ, please feel free to pump,
if the bashers don't like it they can use the IGNORE button.
RE: carriers, I would guess one of these:
T-Mobile--------17.2 *
Vodafone--------16.2 *
O2-----------------16.8 *
Orange-----------14.9 *
Virgin Mobile--- 4.4 *
3---------------------3.6 *
* (subscribers in millions apr.)EDIT: UK only.
neotechian, for sure...eom
Mae West, thank you for posting the article,
"Although News Corp. has publicly announced its intention to expand MySpace into China, people close to the matter caution no deal has been completed yet."
It's tough even for the big boys to break-in over there.
NeomRocket, I would guess a couple of pros' with some occasional tag team antics, and some sour grapes.
Statenlsd, thanks for this quote:
"If you have ever owned your own business, you'll put it all on the line"
A great maxim
javman98, I don't know about you, but I admire a job well done, even when it has cost me money on paper. You really have to hand it to the bashers, both professional and amateur, they have done a terrific job on this NEOM board. They dragged numerous posters and lurkers into their delusional negative opinions, and caused many to sell out and jump ship. I wish I could throw the rest of them overboard, (by buying their shares), but no, I tried to catch the falling knife and now when I should be buying, I can't. Lesson learned.
The only way to rid this board of bashers, and raise the PPS, is for there to be more buyers than sellers. Can't people see how the bashers swarm in,like bees on honey, whenever there is a PR or a positive post supporting management and their products? Very theatrical, almost rehearsed, and at this point maybe even comical. New blood are buying the shares now, and thats a good thing.
The idea that QODE could have or should have been launched successfully a long time ago was wishful thinking. It is quite clear to me now that the mobile operators have been the road block. They have wanted most of the revenues, but I believe that is changing slowly as demand for mobile applications has increased so has the supply. I think management has had an uphill battle and they are almost there.
This management is familiar with financial crises, this to shall pass. In order for a small company to establish business partnerships in China it takes big cojones and maybe some free product that can be written off. We will know soon enough.
Banks posted this article the other day about Google and their mobile ambitions, a great read.
http://news.com.com/Googles+ambitions+going+mobile/2008-1039_3-6138755.html?tag=ne.fd.mnbc
Here is a company that spent 842 million dollars in the first nine months of 2006 on R&D, and they don't have their mobile strategy figured out yet. Here is a telling excerpt:
"So how does Google expect to make money from the new mobile applications it's developing?
We are already testing text-based mobile advertising in Japan and several other countries. And so far the testing is going quite well. So that's one avenue for us to make money. But I think that mobile is still a new medium. The number of people accessing data applications on phones is still relatively low. As usage increases, I am certain there will be other business models that emerge.
Eric Schmidt, Google's CEO, said earlier this month that he believes mobile advertising could make cell phones free for consumers. How would that work exactly?
What Eric was alluding to is that it's in the best interest of mobile operators, content developers and application providers like us, to make sure that everyone who wants a mobile device has one. Unlike the traditional Internet, the mobile market is based on a well-defined ecosystem. Mobile operators set pricing on content and provide access. Device makers select operating systems. And then you have service providers like Google that offer applications.
So the entire ecosystem will have to figure out different ways to get mobile devices into users' hands. It won't be just mobile advertising. But the market is still nascent, so we don't know what it will be yet."
We are not to late to the game. I wish I could buy more. JMHO.
Nokia World: Fancy a 100GB mobile phone with a built-in projector?
What will mobile phones be like in 2010? Ask Tero Ojanperä, Nokia’s chief technology officer, who did the final keynote speech at the Nokia World conference today. And he's not short of ideas:
1. “A navigation device in 2010 will be similar to the N95, but it will deduce information from your calendar, then input the navigation and take you to the place you need to go.”
2. “If you’re a journalist, you’ll be documenting an event like this with your 10-megapixel camera, and you will be taking videos with your HDTV-quality video camera that’s embedded in your mobile device.”
3. “Say you’re starving for your Latte. Your devices finds the various coffee machines for you, sends the parameters of your Latte over the Internet, so that when you walk to that machine, your Latte has been brewed.”
But the most interesting idea he floated during his speech was of phones with 100GB of internal memory, containing every single item of media you own - music, films, photos, documents and so on.
“Your whole media will be indexed and there for you to take with you,” said Ojanperä, before getting back on a futurology tip. “If you come to Amsterdam, you might film some tulip fields in HDTV video, and then later go to a friend’s house and show those videos projected onto the wall, using the projector that’s been integrated within your device. All of this will be possible within three years.”
However, he went on to talk about how fast mobile networks are going to get in the years ahead too, and this is where I wonder about those 100GB phones. After all, if you’ve got a super-fast mobile network, and you’re not paying any extra data charges for what you stream or download, do you need to keep your entire music or movie collection on your phone?
Couldn’t you just stream it from your home server, using something like Orb – which remember, is already being put onto mobile phones by UK mobile operator 3 with its X-Series? Anyway, that’s just me getting carried away with future-gazing. And there was no need, because Ojanperä was still going strong.
“Imagine you want to go to the Van Gogh museum, so you locate it using your device, and then browse through the internet the opening times, and some reviews that people have posted. Once you get there, next to the paintings you can touch tacks with your Near Field Communication-enabled phone to initiate a service that connects back to the internet, and fetches information about the painting, and perhaps reviews by other visitors.”
There was also something about sensors embedded in your shoes detecting that it’s raining, so sending a message to your phone to direct you to the nearest bus stop, but I think he was getting carried away by this point. I liked another idea though, which Nokia is apparently already doing, of porting internet servers into mobile phone, so your phone can itself act as a server.
“It enables the mobile device not only to access the Internet, but to be accessed,” said Ojanperä. “You could store all your documents and pictures that you would like to share in that tiny server, and somebody else can access them if you allow it. This will fundamentally change the information architecture of the internet. And this is happening today. We have put the server into open source, and it is starting to spread.”
I love all this stuff - if he’d mentioned robots, lasers and a 4D holographic version of Snake, I’d probably still be sitting at the back of the conference auditorium with a silly grin on my face, dreaming of The Future. As it is, we’ll just have to wait for 2010 to see if all or any of these ambitious ideas come off.
http://techdigest.tv/2006/11/nokia_world_fan.html#more
brewski, this is certainly sound reasoning as you stated,
"I for one hope NEOM uses the paint money, when and if it sells the business, for operating activities, and hope it ramps up the sales department to get their product out there, and get more marketers on board",
at the same time I hope management is able to renegotiate with the subs prior to the sale of NMPR, and not have to earmark any of the cash to the subs. If this comes to pass, it would speak loudly of the confidence and desire of the subs to remain an integral part of NeoMedia.
Though they ended up paying 6 mill. for 7.5% of Sponge, I think eliminating the 3.3 million additional expense, "to procure the functionality needed to support a sales agreement", as stated in the 10-Q, was necessary at this point in time. JMHO
About NeoMedia Micro Paint Repair:
Full Line of Cosmetic and Aesthetic Services and Products
NeoMedia Micro Paint Repair (NMPR) features an array of products and services including:
- Micro Paint Repair - its flagship product, providing fast, flawless and permanent spot repair, free of harmful isocyanates and with no paint booth needed. Micro Paint Repair delivers superior OEM color match on any vehicle . . . a faster repair at lower costs, meaning greater profits and higher turnover for NMPR system users;
- Clear Coat Rejuvenation - unlike anything available on the market! Not a wax or a surface coat, it actually reflows, rejuvenates and resurfaces the clear coat in the same amount of time it takes to wax a vehicle. NMPR product users can bring back a show-floor shine and make their customers’ cars look new again;
- Headlight Rejuvenation. Cloudy headlights not only look bad, they also are hazardous in night driving conditions. NeoMedia Micro Paint Repair can make them look new again in just minutes with its new headlight rejuvenation product;
- RV Rejuvenation and Paint Sealants. These products are designed specifically to repair and protect the expensive finishes on recreation vehicles by reflowing the clearcoat and providing sealant protection for one year, and other proprietary products and services, including odor removal, paintless dent repair, chip repair, windshields, interiors, shop equipment.
BREACHER, from 8k, 8/31/06
3. Definitive Agreement. The Purchaser and the Seller hereby agree to use reasonable diligence to commence good faith negotiations in order to execute and deliver a definitive stock purchase or merger agreement relating to the Acquisition (the "Purchase Agreement”) acceptable to parties hereto on or prior to October 27th 2006.
All terms and conditions concerning the Acquisition shall be stated in the Purchase Agreement, including without limitation, representations, warranties, covenants and indemnities that are usual and customary in a transaction of this nature as such may be mutually agreed upon between the parties. Subject to the satisfaction of all conditions precedent contained in the Purchase Agreement, the Closing will take place no later than November 24th, 2006 or as soon thereafter as possible, subject to the approvals of regulatory authorities. The Purchaser's obligation to execute, deliver and perform the Purchase Agreement is conditioned upon approval by the Purchaser's Board of Directors. All shareholders of the Company will execute and deliver the Purchase Agreement, will agree to vote their shares in the Company in favor of the Acquisition and will use their best efforts to cause the Acquisition to be completed.
http://www.sec.gov/Archives/edgar/data/1022701/000114420406036556/v051912_ex16-1.htm
FYI: RE: NEVEN VISION, from most recent GOOG 10Q:
Note 5. Acquisitions
In February 2006, we acquired all of the voting interests of dMarc Broadcasting, Inc. (dMarc), a digital solutions provider for the radio broadcast industry. This transaction was accounted for as a business combination. The purchase price was $97.6 million, and was paid in cash as of September 30, 2006. In addition, we are contingently obligated to make additional cash payments of up to $1.136 billion if certain product integration, net revenue and advertising inventory targets are met through December 2008. Since these contingent payments are based on the achievement of performance targets, actual payments may be substantially lower. In accordance with EITF 95-8, Accounting for Contingent Consideration Paid to the Shareholders of an Acquired Enterprise in a Purchase Business Combination, substantially all of these contingent payments will be accounted for as goodwill, and the remaining amounts will be expensed, when and if earned. No contingent payments were earned through September 30, 2006.
During the nine months ended September 30, 2006, we also acquired all of the voting interests of six other companies. Two of these transactions were accounted for as business combinations. Because the remaining four transactions were with companies considered to be development stage enterprises, they were accounted for as asset purchases in accordance with EITF Issue No. 98-3, Determining Whether a Nonmonetary Transaction Involves Receipt of Productive Assets or of a Business . The total purchase price of these business combinations and asset purchases was $112.5 million paid in cash. In addition, with respect to these acquisitions, we are obligated to make additional cash payments of up to $17.9 million if certain performance targets are met through March 2010. Since these contingent payments are based on the achievement of performance targets, actual payments may be substantially lower. Substantially all of these contingent payments will be accounted for as goodwill, and the remaining amounts will be expensed, when and if earned.
In addition, during the nine months ended September 30, 2006, we acquired certain other intangible assets for $51.7 million paid, or to be paid, in cash.
The following table summarizes the allocation of the purchase price for all of the above acquisitions (in thousands):
Goodwill
$ 142,245
Patents and developed technology
88,162
Customer contracts and other
53,989
Net liabilities assumed
(6,185 )
Deferred tax liabilities
(27,262 )
Purchased in-process research and development
10,800
Total
$ 261,749
page (15)
The 6 companies they refer to, but do not identify by name, I believe are: NEVEN VISION, LAST SOFTWARE, WRITELY, MEASURE MAP, REQWIRELESS, TRANSFORMIC.
How much of that 261 million is for Neven Vision? Only Google knows.
Thank you, it is working fine now.
FYI: when I am on the page where the last 50 posts are displayed and I click on a post, then hit my back button and go back to that page, the "link color" changes to the "visited color".
However, when I am on the page where the last 50 posts are displayed, click on a post, then from there click on the "NEXT" tab to get to the post that follows, and continue that until I have read all posts, when I go back to the main page where the last 50 posts are displayed, the "link color" has not changed to the "visited color" on any of the posts I have read.
I have never used the IGNORE feature, in fact I don't even know how to use it.
ameisl, thank you for taking the time to comment.
Turn the page, and on with the adventure,best of luck to you.
beam11, thank you, always appreciate your input.
SOG, did you know that Mark Angelo and some of his associates over at Cornell Capitol are Rutgers graduates?
Maybe you can do some digging?
Congradulations on a great season!
beam11, I agree, they opted for a smaller % of Sponge(7 1/2%)
and eliminated 3,321,000 of expense.
beam11, I saw the info in the link that I put in my last post,
declared UK turnover: £2,488,865 9/05
here is the link
http://www.operatelecom.com/pdfdata/MSG_29_06.pdf
Personalizit, no I don't see how it could be.IMO
beam11, is Declared UK Turnover, different than net sales?
http://www.operatelecom.com/pdfdata/MSG_29_06.pdf
ss9173, thanks for the review,
did you consider this in your summary; from the last 10Q:
"NeoMedia’s subsidiary Sponge has entered into purchase commitments to procure the functionality needed to support a sales agreement with a major customer. The purchase commitments require payments of $1,121,000 in the fourth quarter of 2006, and $2,200,000 in 2007. Revenues related to this program are expected to exceed the purchase commitments over the one-year life of the contract."
beam11, I am certain that you have, and I appreciate that,
but I think it's important to replay the factual recorded info that is available for everyone to see,(especially the lurkers) if they would only read the SEC filings. It is not as scary as people think. As YJ say's, if you want to be afraid read the SIRI 10Q, it puts NeoMedias in a totally different light.
With all of the bashers pushing the PPS down so they can buy cheap shares, they can't dispute recorded info.
From what I could tell they already have the cash burn rate under 1 million per month. With Sponge gone what would you put the cash burn rate at now?
From 10Q:
"NeoMedia plans to address its working capital deficiency by completing the sale of the Micro Paint Repair business unit and continuing to reduce its workforce and overhead expenses in non-critical areas. In addition, NeoMedia will attempt to generate additional revenue and profit from the launch of its qode® products, the commercialization of its patent portfolio, and from increased revenue and profit from its 12Snap, Gavitec, and NeoMedia Telecom businesses."
FORT MYERS, FLA., Nov. 16, 2006 – NeoMedia Technologies, Inc. (OTC BB: NEOM), said today that it is continuing to revise its mobile marketing strategy, announcing the sale of recently acquired Sponge Ltd., a subsidiary based in the U.K., back to its founders. Previously, NeoMedia had announced the signing of a non-binding Letter of Intent to sell its micro paint repair business unit in order to concentrate its corporate marketing resources on mobile marketing opportunities for its patented qode® product platform.
Charles T. Jensen, president and CEO of NeoMedia, said “that this agreement with Sponge is another significant step by company management to target corporate resources on the introduction of our patented qode suite of products in European markets and in North America and China. We decided it is in the best interest of our shareholders to continue to fine-tune our focus, trim our cash burn rate, and reverse substantial dilution.”
Under the terms of the agreement, NeoMedia receives back from Sponge 33,097,135 shares of its own stock and $100,000 (net of attorney fees) in cash, and is due an additional $150,000 by March 7, 2007. NeoMedia also retains a 7.5% interest in the London-based company which develops and implements mobile marketing campaigns, mobile applications and delivers content for U.K. and international customers.
All other agreements of NeoMedia relating to the acquisition are terminated, including the purchase price guarantee clause which called for NeoMedia to make up, in cash, any decrease in the value of shares issued as consideration for the acquisition of Sponge. Based on NeoMedia’s current share price, this obligation would have been in excess of $10 million.
“NeoMedia’s plan and intent,” said Mr. Jensen, “is to build shareholder value by focusing our development and marketing expertise on next-generation mobile applications and opportunities, especially for our qode direct-to-mobile-web cell phone technology. To do so successfully, NeoMedia must also concentrate its resources in order to continue to build our presence and products, here in the U.S., in Europe, and around the world.”
NeoMedia’s patented qode (www.qode.com) suite is an easy-to-use set of applications -- qode®reader and qode®window -- which provide One Click to Content™ connectivity for products, print, packaging and other physical objects to link directly to specific desired content on the Mobile Internet. qode®reader works with camera phones, letting users “click” on two-dimensional “smart codes” to access the Mobile Web site to which the code is linked, while qode®window lets users reach the same destination by entering a key word, slogan, or product barcode number.
“NeoMedia,” said Mr. Jensen, “looks forward to a continuing working relationship with Sponge founding partners Alex Meisl and Dan Parker and their team as part owner and co-marketing partner.”
humbleinvestor, you stated, "(In China, the most difficult part of doing business there is the "Right Connections", "Right People" and "Right Business")", from what I have read, and people I have spoken to, that is an understatement. Some of the Chinese government websites even caution companies who wish to establish business in China to be "aware of normal risks of doing business".
Wasn't NeoMedias' connection made through Cornell Capitol? Reading all the info on Cornells website leads me to believe they are "connected". Would you happen to have business or personal relationships in China? If so would you be able to obtain info on,
Beijing Sino-US Jinche Yingang Auto Technological Services Ltd. or, Pang Guisan, it's Chairman.
I can't find any recent data on the planned expansion of this franchise.
Banks, great link, thanks for the heads up.
Are these the results of negotiations regarding some of the shares owed to the acquired subs? Or something else?
On August 31, 2006, NeoMedia issued 4,975,000 fully vested shares to an employee in exchange for (i) an extension of the employee’s service agreement through December 31, 2007, and (ii) a waiver of certain of the employee’s rights to receive additional shares under a previous contract. The shares were valued at $0.132 per share, which was the last sale price of NeoMedia common stock on the date of issuance. The aggregate fair value of $657,000 was expensed during the nine months ended September 30, 2006.
On August 31, 2006, NeoMedia issued 5,400,000 fully vested shares to an employee in exchange for (i) an extension of the employee’s service agreement through December 31, 2007, and (ii) a waiver of certain of the employee’s rights to receive additional shares under a previous contract. The shares were valued at $0.132 per share, which was the last sale price of NeoMedia common stock on the date of issuance. The aggregate fair value of $713,000 was expensed during the nine months ended September 30, 2006.
lesnshawn, good synopsis
Relative to the PPS, I think yesterdays PR about ONEwater shows us that NeoMedia finally got their sneakers on. The race has begun.
Two men are ice fishing on a lake in Canada, when they see a grizzly bear charging at them in the distance.
One man starts to put on his sneakers and the other says to him, “Grizzly bears run fast there is no way you can out run him.”
The man answered, “My strategy is not to outrun him. It is to outrun you!”
FYI: Microsoft to Offer Live Search in India
(AP) Microsoft (News - Alert) to Offer Live Search in India
By RAJESH MAHAPATRA
AP Business Writer
NEW DELHI
Microsoft Corp. on Wednesday agreed to provide Internet search services to Indian mobile phone users as Chief Executive Steve Ballmer met with Prime Minister Manmohan Singh to discuss the company's expansion in the country.
Ballmer said his meetings with Singh and Communications Minister Dayanidhi Maran focused on government policies that have a bearing on the world's largest software company's interests in India and how it could participate in enhancing computer and Internet usage in India.
"We had a good chat on the need for additional innovation that will really help drive PC growth and PC penetration," he told reporters.
In October 2005, Microsoft Chairman Bill Gates (News - Alert) said the Redmond, Wash.-based company would invest $1.7 billion over a four-year period to expand its operations in India. The company has since hired more engineers, struck new business alliances with Indian companies and increased funding for computer training programs at schools and colleges.
On Wednesday, it announced a deal to provide mobile search and other Windows Live services to customers of Hutchison Essar Ltd., one of India's leading cellular phone service providers.
The new service, expected to start in January, will be the first of its kind in India, said Asim Ghosh, managing director of Hutchison Essar, which has some 21 million subscribers across the country.
Ghosh said Internet penetration in India is low because of poor infrastructure and because many Indians can't afford to buy computers. Mobile phones are much cheaper and can prove more effective in enhancing Internet connectivity here, he said.
Moreover, India is currently adding 6 million new mobile phone subscribers every month.
"With India being the fastest-growing mobile market in the world, providing a rich set of online services for mobile subscribers is more important than ever," Ballmer said.
During his three-day Indian trip that ends Friday, Ballmer said he plans to discuss government policies, meet with business leaders in Mumbai and then travel to Microsoft's Research and Development Center in the southern Indian city of Hyderabad.
"There is a lot going on in India," he said.
Despite a low base of about 18 million computers, India's technology adoption is gaining momentum thanks to a booming software export industry and growing domestic market.
India also is a battleground for supremacy between Microsoft's proprietary Windows operating system and Linux, the rival open-source software that can be downloaded free from the Internet.
Several Indian state governments have embraced Linux, while others have accepted software donations from Microsoft.
Ballmer's talks with Indian leaders Wednesday also touched on steps taken by Microsoft to make Windows available in more Indian languages.
Localizing Windows has been a key component of Microsoft's strategy to stay ahead of its competition in India, where only a small fraction of its 1.06 billion people speak English.
Ballmer said the company plans to bring Windows Vista -- the first update of its operating system since 2001 -- and Office 2007 to India soon, but he declined to give a firm date for the launch.
http://www.tmcnet.com/usubmit/2006/11/08/2061939.htm
in4it, you seem to have an old link, click on "3comments" it opens up to 6 comments, includes yours and a last one by street.
OT: Birds and the Bees, from tomorrows dad?
A little boy goes to his father and asks "Daddy, how was I born?"
The father answers:
"Well, son, I guess one day you will need to find out anyway! Your Mom and I first got together in a message board on IHUB
Then I set up a date via e-mail with your Mom and we met at a cyber-cafe. We sneaked into a secluded room, where your mother agreed to a
download from my hard drive. As soon as I was ready to upload, we discovered that neither one of us had used a firewall and since it was too late to hit the
delete button, nine months later a blessed little Pop-Up appeared and said:
You've Got Male!"
donbalon, thanks,a good read.
beacon27, I'm guessing it is VG, they have an earnings report scheduled for Oct. 31, and they are shortable at current price. JMHO
Thanks PClick, and the same to you to, :>)
OT:Clawmann, thought you would find this interesting:
YouTube Gave Equity To Record Labels On The Morning Of The Google Deal
from the oh-really? dept
Remember how hours before the Google acquisition of YouTube was officially announced, the company first announced deals with a bunch of record labels. While everyone assumed these were basic content deals, the NY Times is now reporting that it actually involved giving those companies an equity stake in YouTube, on which they made a nice profit on a few hours later when Google made the announcement that they were buying the site. That, obviously, helps explain why YouTube wasn't included in the lawsuits Universal Music announced on Tuesday. However, something about this doesn't seem right. The article notes that the labels and YouTube rushed to get a deal signed just hours before the Google deal was signed "in part so that it could benefit in the jump in YouTube's value." Of course, that sounds like something of a scam. By that point, it was clear that YouTube and Google were signing a deal, and YouTube basically gave the labels a super favorable deal so they could make quick millions hours later when Google bought YouTube at the high valuation Google gave the company. Sounds like a case where YouTube basically gave the labels Google's cash before any official deal was completed.
9 Comments | Leave a Comment..
Reader Comments
(Flattened / Threaded)
1.
by Anonymous Coward on Oct 19th, 2006 @ 12:34am
Is that legal?
(reply to this comment) (link to this comment)
2.
by Noni on Oct 19th, 2006 @ 1:07am
Who cares if it is legal so long as someone made off with a pile of cash... people rob banks for that very reason
(reply to this comment) (link to this comment)
3.
by Anonymous Bored Coward on Oct 19th, 2006 @ 1:21am
What's wrong with this?
Shareholders in YouTube gave up some of the Google equity that would have been theirs if they hadn't done the deal with the music cos.
It was Google equity that would have belonged to the YouTube shareholders - I don't see how this is Google's money.
How can it be illegal? Unless some minority shareholder was tricked into giving their equity to the music companies for less value than the Google shares - without knowing that the Google deal was imminent.
Sounds like a very sensible deal for everyone:
YouTube - Google may have made this a condition precedent
Google - no lawsuits
Music Cos - Google shares
Oh - and typically stupid reporting from Techdirt.
(reply to this comment) (link to this comment)
4.
Insider Trading by nodream on Oct 19th, 2006 @ 1:39am
Isn't this what is usually called insider trading? Trading with forknowledge? Isn't that what landed Martha Stewart in Prison?
(reply to this comment) (link to this comment)
5.
by Anonymous Coward on Oct 19th, 2006 @ 2:26am
Insider trading is different, it's when you are in a position where you have more knowledge about something than the public, and you utilise that by buying/selling shares. For example if you were the head of AT&T, and you had a piece of paper on your desk saying the company was about to go up in value a shitload, and you buy more stock. That's insider trading.
This is just money fetching, which is a pretty good idea, and another easy way to get money.
(reply to this comment) (link to this comment)
6.
assumptions by Nobody Special on Oct 19th, 2006 @ 3:32am
There appears to be an assumption that disclosure wasn't followed. One can disclose to the proper people without involving the media. And as for the Youtube shareholders - who are they? I don't recall them going public. Thus the only shareholders were probably present at the table.
I would suspect that Google knew that this was on the table and may even have made it a condition. Keep in mind that Google doesn't really want to be sued. And the deal may have been part of why Google paid such an astrnomical price. Part of the price was money to pay of the lawsuit happy rats. The deal sounds much better to me now. Google is happy as they didn't want the suit. The creators of YouTube are happy as they got a pocketfull of stock. And the record labels are happy as they got their unfair share.
The deal most likely had to be completed before Google would sign in. They couldn't afford the exposure.
(reply to this comment) (link to this comment)
7.
by Krish on Oct 19th, 2006 @ 5:16am
This is indeed crafty work by Google's lawyers / Management to ward off costly ( copyright infringement ) future litigations and the disrepute that may have ensued.
YouTube has not been a Public quoted company and is free to allot shares to any investor as it may deem fit, either for cash / consideration other than cash so long as its existing stock owners do not have objection. At best, only one who could've objected to this transaction is Google itself since there are "material changes in stock ownerships" which went unreported during the due diligence it (had) conducted on YouTube weeks before. ( As per the report the deal with record labels was closed only hours before Google announced its deal with YouTube ).
Since Google has not objected to this, there's every reason to believe that it was Google's idea to buy peace with Record Labels, as is evidenced by convenient omission of YouTube name from the lawsuits announced by Universal Music.
Did you say Surbanes Oxley...?
(reply to this comment) (link to this comment)
8.
To: Anon Coward on Oct 19th, 2006 @ 1:21am by The Original Just Me on Oct 19th, 2006 @ 5:52am
If you're going to be an idiot at least post with a name so it's easier for us to ridicule you.
(reply to this comment) (link to this comment)
9.
by Anonymous Coward on Oct 19th, 2006 @ 6:07am
Something about this sounds shady..
Not sure if it's illegal, but from a taxing perspective doesn't this mean that Universal will be taxed for a capital gain rather than a settlement/profit (depending on how they would have received the cash otherwise)?
Also, from an accountability perspective, doesnt Google or You Tube need to notify its share holders before transferring equity over?
http://www.techdirt.com/articles/20061018/231831.shtml
RE: Scanbuy; Longworth Venture Partners has them in their potfolio of companies-http://www.longworth.com/portfolio/scanbuy.html
Also on this page there is a picture of Jonathan Bulkeley giving a presentation at their annual technology conference that PP referred to on Oct.3, scroll halfway down page.
http://www.longworth.com/conference/photos2006.html
streetstylz, check this out, some type of Mobile only myspace:
http://www.itsmy.com/itsmy/
uofalbany, I would guess direct to internet mobile technology will be so huge that no company will ever attain even a 25% marketshare. I would also guess that if "QODE" launch is successfull, NeoMedia will be bought, or will merge with a larger entity. BWTFDIK, I never slept at a Holiday Inn, and I thought the Yankees would win the world series.
I'm watching the cards being dealt. I've got my chips on the table.
uofalbany, please post freely and often. Your a breath of fresh air. The critics and naysayers are tiresome to listen to. They complain and criticize management for lack of communication, then when a PR is issued they pick it apart like hyenas on a warm carcass.
Six months ago " increased business" and "increased revenues" would have been a gourmet meal to most, but now that they are so starved for news it gets ripped apart and wasted without discernment.
Thanks management, for your continued efforts, keep up the good work!