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excellent point Boldini.........my faith in the NEOM technology and patents is waning, as I see similiar technology being developed around the world, and they are not required to bide by US patents in their own countries.
When I watched the demo on local news some 2 years ago, and watched them stand outside a Barnes and Noble book store, and read the ISDN number and say they paid too much for a book, I was impressed. Now it turns out that those cell phone cameras have difficulty reading barcodes and ISDNs due to their poor resolution, and now the big sale is on the GOTO window instead.
I mentioned Nokia and Finland yesterday, and its ironic that 2 years ago they produced the first 2 phones for the paperclick technology, yet they are not ready for this technology yet over there.
The question to ask is IS IT THAT THEY ARENT READY FOR THE TECHNOLOGY, OR IS THE TECHNOLOGY NOT READY FOR THEM.
In the case of the camera phone I truly believe its the latter, and believe we investors shouldhave been told that technology was having problems reading scans, due to the low quality resolutions put into cell phone cameras.
DRMYKE The SEC Published
an article that acknowledged that there is in fact a paid profession of stock PUMPERS. In the same article they stated there was not such a thing as PAID BASHERS. You have to wonder about some of the posters here, when they claim to have personal and professional relations with NEOM management, just what their motives are, to attack anyone with doubt about the companies direction, especially when they make it clear that they will report back to the company whats been said here.
As for me, I dont care if it goes back to company management. Maybe then I will get a response from the management, because many of the doubts I have posted here, were also put into an email to the CEO weeks ago, and I am still waiting for answers.
Also its traditional for a pumper to attack a doubters credibility with questions about why the doubter bought the stock, in an effort to steer the topic of the real issues relating to the company itself.
So for ONTHE and others here that want to know why I bought the stock here goes. I bought in early 2004, because as I said I lived near Ft. Meyers and saw the local news and was excited about the product. I also expected that the purchase of CSI was going to turn the company profitable in the near future, since CSI was already profitable when acquired. Also having some knowledge of the European economy, I expected Paperclick to become a vial business over there in a years time. With a launch of paperclick in February of 2004 and the purchase of CSI in February of 2004, I expected 4 quarters later to see some results. Being that the the paperclick and CSI both occurred in Feb 2004, I didnt count that quarter in my assumptions. Therefore I expected that 1 year from the june quarter of 2004 we would start to see progress, and surely the next quarter after that see some real new revenues streaming in. That quarter was the JULY,AUGUST,SEPT quarter of 2005, which gets realeased in November of 2005. Thats why I bought so many new shares before the earnings release. I truly expected to see revenue flowing now which would stimulate the share price, and at least stabalize it in the range I was buying in.
However, there is no real revenue to speak of, even though there was numerous new licenses issued for Micro Paint, and several new aliances for paperclick over the past 12 months. Matter of fact the numbers in the 3rd quarter 2005 got even worse then the 2nd quarter 2005 numbers. So they arent improving with this technology, its costing them more to run these operations. Hense my concerns of late.
you and half the posters here are not insiders, as its defined by the SEC are you?????????Thats how I could post what I did with a straight face. An insider is an officer, employee or 5 percent holder of the company. So to hold 5 percent or more of 450 million shares you have to own 22 million, then you can call yourself an insider. Until then you are just like me, an outside retail investor.
By the way read my last post and you will see I acknowledge the retail investor holds the majority of this companies stock, but that dont make you an insider.
And if you know about trading stocks, what the insiders hold or do with those holdings, is a very key measure of how to invest. I dont think theres an education program out there that dont list insiders activity as one of the criteria an investor should look at when deciding to invest in a stock.
As for my wanting to make money of the stock and thats why I am unhappy, you are right. Anyone who says they invested in stocks not to make money is a liar, plain and simple, so yes i want to make money off the stock, and the sooner the better. Isnt that always the case????????
NEOM gets 10 million from the exercise of the warrants. They get nothing from the subsequent sale by Cornell and the consultant.
Further I also forgot to mention, that per agreement Cornell can not own more then 9.9 percent of the company, and the 50 million shares alone is over 10 percent of the outstanding shares, not counting the shares Cornell already holds, so they have to sell the warrant shares.
Further NEOM can not force them to exercise all the warrants when it exceeds the 9.9 percent they are allowed to own, unless Cornell sells some of its shares.
And yes some of you were aware of the SEDA since March, but apparently not everyone is aware, or there wouldnt be questions now asking about the 54 million. How many new investors you think are here that invested since March and arent aware?
BTW since I only have 2 more posts today there is another issue I want to address that was brought up in a prior post by a poster.
Thewy stated that WOOG was well informed and done much more research here then any other investor and therefore was in the know.
Let me posts some DD facts here, that shed some light on the company.
1. Of the 450 million shares outstanding, Institutions only hold 500,000 shares. Someone bullish on the progress needs to consider this and put their bullish posts in perspective. Ask yourself why Institutions dont own this stock if this thing is ready to fly high?
2. Of the 450 million shares outstanding, insiders/5 percent holders/ and Institutions all combined own less then 100 million of those shares. The remainder are held by the public retail investor like you or I. And of that 100 million shares, the bulk of them are held 2 Directors, the fritz brothers.
3. The book value per share is .01
3. The ROE is negative -200
4. The operating margin is negative -300 percent
All of these things which are factual DD lead to a weak company fundamentally, not a strong one as the enthusiastic posts seem to misrepresent. The bottom line is this stock is a big gamble, and thats why there is little interest from institutions as well as insiders.
A poster the other day challenged my statement about owning more shares then many of the officers, and said it wasnt a believable statement. I couldnt resppond because i had used my 3 posts, but I challenge all of you here to make a list of all the inside officers and directors, and next to their name list how many shares of common stock they own, and see how many you come up with that hold over 100,000 shares. I will start it for you by listing that according to NASDAQ.COM the CEO holds 1,500 shares???????Isnt that interesting when the CEO will only hold 1,500 shares of a .30 stock or $450.00 worth?????????
its in the filing that Cornell and The Consultant will be the sellers of the stock, and NEOM will not recieve any monies off their proposed sale.
Matter of fact I believe the consultant was given 7 million shares in warrants but is only asked NEOM to register 4 million for the sale.
I wasnt gonna waste one of my 15 posts a day to answer a question I had already answered in a previous post, but since you are insistant I will answer once again.
I am still in the stock because my average price per share is .37 and so I will wait for a rebound to exit.
As to why I bought in the first place, as I explained as well I initially invested in Jan 2004 but my largest investment(an additional 100,000 shares) occurred in the past 2 months. Why you ask? Because I had extra funds from the sale of my condo, and I did not expect the management to be filing the 54 million shares for registration right after I bought my shares. I bougyht 40,000 at .43 a share and another 60,000 at .329. The price started dropping right after I bought the first lot so I bought the second to average down. I only hold 10,000 shares of what I bought in 2004 in a different broker account, so I did not average those shares in for the sake of this discussion. I paid .07 and .11 a share for them in 2004, but the quantity is so small that it wouldnt effect my average pps that much. So the fact is I own 110,000 shares at various prices, and havent sold yet because I dont want to write off the loss just yet.
And if you are wondering I voted no on both the director choices for 3 of the directors up for nomination, and I voted no on the stock option plan.
The directors I voted no for were the Fritzs and the CEO Jenson, because I dont like all these private loans I see them making, and getting great options and promissary notes in return, and I dont like the CEO going along with it. As directors I see that as a conflict of interest, when they make the loan, and they vote what compensation they will get back in return for making the loan.
to be honest they were not registered since march, so Cornell and the consultant could not exercise them. They have made it clear in the recent filing for registration, that Cornell and Consultant do in fact plan to exercise and sell them as soon as the registration is accepted by the SEC.
Another misconception that I see here a lot is that the SEC has to approve the new shares. Thats not accurate, the sec filing is merely a formality. The stock holders approve the new shares which they did at the annual meeting.
They are required to register them with the SEC however, so that the SEC has an accurate record of how many shares are outstanding.
The only time SEC approval is required is for a merger, where there may be a monopoly, or an unfair advantage to the merge company.
In this case its warrants issued to a lender and the consultant, and no SEC approval is required. Just a filing with the SEC.
I lived in a Condo off Davis Blvd, right on the corner of Davis and Airport road. I moved into it in 1998 and after the next year it jumped in value over 400 percent. I left just before the recent hurricane hit there.
I am very familiar with Willoughby and Royal Palm. Used to bring all my visitors to Royal Palm to show them the huge multimillion dollar yachts and homes there.
Its grown huge. I moved to naples in 1995 and stayed 10 years, but rented the first 4 years on north side right off of Pine Ridge Road. You wouldnt recognize it now. They were building the first overpass on Airport road and Golden gate Parkway when I left. I expect there will be a lot more in the future to handle the traffic congestion. During season you cant drive around town, without waiting in traffic forever.
anecdotal evidence???????LOL that is funny. Go to Finland where your Nokia phones are made and see how anecdotal the evidence is there.
As I said every thing they do is by cell phone and its all charged to their phone bill, and been like that for years now. They enter a code in the phone and and the drink machine drops a drink out and charges their phone bill etc. When do you think we will be ready for that kind of ANECDOTAL evidence here in the US. If it can be done with a cell phone I guarantee you the Fins will be the first doing it, and last I checked they were in EUROPE, the part of the world not ready for this technology yet according to David. So just when do you expect the big explosion in the US, which has some catching up to do, just to be on par with the Fins???????
I did not resort to calling anyone names here. I signed up to this website on friday, and was limited to 3 posts. I expressed my concerns and was imediately called a basher.
There should not be a need for defending anyone here, because the name calling was and is unnecessary. This is supposed to be a free flow of information, both from those enthusiastic about the companies progress and those not so enthusued about the progress.
When certain posters have to resort to name calling, because someones views dont coincide with their own, even if those views are legitimate, you have to question the motives of the one doing the name calling.
As I said in a previous post, my concerns about the direction and progress of the company I hold shares in, are just as valid as the views of the enthusiastic poster, regardless of the amount of time spent doing DD by either individual.
And in my opinion, 2 years after launching a product, it should be producing revenues and if not earning profits, it should be close to earning them. As I study the quarterly numbers as I have for 2 years now, the deals keep growing, but the numbers keep going to the negative. IN MY OPINION thats not progress.
I dont think it will go back until after the new 54 million shares get absorbed, but thats only my opinion.
When I spoke to David, he told me Europe was not ready for the technology when they launched last summer. We had a discussion about that since I spent several years in Europe and go back frequently, and find they are more advanced then we are when it comes to technology. One example I used was the 24 hour gas pumps with no attendants over there, 30 years ago, and we still dont have that here. He told me it was because of the terrorists we were concerned about. I then explained that all developed just a few short yyears ago after 9/11 and he had no response.
I also discussed how in some areas of Europe they use their cell phone for everything to include buying and dispensing drinks from the drink machines, and again he had no response. So if they arent ready for this technology yet, just when do you think the US will be ready for it. And these issues with buying soft drinks with cell phones etc was there several years ago, not just the last year or two ago.
Thats why I am skeptical as well, speaking to PR departments. They think you are dumb and they will say whatever sounds good at the moment, to justify the lack of revenue, and once someone like myself challenges their answers, they look for a way to switch the subject quickly. Thats why I expect it will be more of the same at the meeting. The only ones getting the straight scoop are those like Cornell, who are making tons at our expense. Even the consulting office I mentioned that got options to buy the stock at .20 for putting together the latest finance deal with Cornell. They got over 4 million shares which they are now selling for around .30 a share and diluting the stock for us regular investors, and overnight they make 50 percent, or .10 a share, from their exercise price of .20 to the retail price we are paying of .30 a share. Thats only a nice little bonus of $400,000.00 overnight on 4 million shares, and then the company has to charge the discount off on the balance sheets effecting the retail stockholders value.
I forgot to add, I dont believe they are allowing any electronic or recording devices at the meeting, unless I read the information wrong.
Unfortunately I moved from Naples a couple months ago. The company was only 30 miles away and it was easy for me to get info. Now I have moved to Texas and have to rely on the phone instead, and found out a month ago there was not a working phone at NEOM that would connect to an operator even. You either had to know the parties extension or hang up....those were the only 2 options.
That is why I emailed the CEO and in response he had David Kaminer call me, and I was very dismayed to say the least at the responses from David. Perhaps that is why you see a lot of my frustration here, because after my talk with David, I sent 2 more emails to the CEO and got no response.
Maybe the phones are working now, as I spelled out to the CEO in the first email, that it was very unprofessional and unbusiness like to have a recording that only repeated the menu over and over every time you hit zero for an operator like it told you to do.
I was tempted to fly back for the meeting but with holiday company coming to Texas now to visit, I dont have that option, especially with the meeting so close to the holidays.
you are right that those not happy could just move on. But some of us arent willing to take the loss, but then that doesnt mean we cant be dissatisfied with the management. I for one invested in Jan 2004 initially because of the launch of paperclick back then, and the purchase of a profitable CSI. since I purchased more and recently bought as high as .43 a share. I am not willing to write that off as a loss, because I know eventually it will reach that limit, but that dont mean I am not entitled to opinions in the mean time.
My break even price is at .37 a share so I have a ways to go.
Woog.....I resent your labeling me as a basher, because I have concerns over the direction this company has been headed.
As an investor, my concerns are just as valid as your hype. Probably more valid, when you consider them honestly.
I for one do not believe its in NEOMs best interest to be starting a new division outside their core operations, especially when the existing 3 business' arent profitable yet. I for one do not believe more of the retail investors money should be spent chasing yet another venture, at the expense of having to borrow million more from Cornell to fund that venture.
I for one as an investor, am also puzzled about how CSI the last venture went from a profitable one, to losing money massively 2 years later after the NEOM acquisition.
I for one as an investor also am very concerned about a company I own, when there are 3 completely seperate divisions, and 34 employess. Exclude the officers and whats that leave you per division.
Then after honestly considering all this, look at the massive dilution going on. Look at the fundamentals, when this stock has a share value of .01 a share etc.
Yes it all could change.
But my concern is legitimate, and the example I gave in my last point was to illustrate a point. In that post I mentioned TFSM had all the patents for internet advertising. The problem is they didnt have a web portal to place their clients ads on and needed the likes of Yahoo, Google etc, and was forced to give them licenses for nothing, in order to form a partnership, so they had space to place ads.
The reason this concerns me with NEOM, is because I see no revenue from the licenses they are granting to speak of either, and it concerns me they may be giving away the ship to the giants, so they too have partners which are needed. That puts them too in a position where the giants use their patents for free in exchange for partnership.
If you think these are not legitimate concerns that should be discussed here, thats your opinion. And the good thing is we can have different opinions, and in the end maybe the average investor learns some things they hadnt considered.
If that makes me a basher so be it. But I would go on to say, I havent called you a pumper have I????????
I have heard that same statement about many "HOT LITTLE COMPANIES" in the past and it didnt pan out.
Go look at TFSM media. At one time back in 1998 they were the "PIONEER" in internet advertising, and held all the patents or so they claimed. 7 years later and the big guys swallowed them whole, like Google, Yahoo and MSN, AOL and dozens of other companies. They tried law suits for patent infringement, but that didnt work either, and were forced to do a 1-5 RS nearly 2 years ago, and are still struggling to keep their stock price above 1.00 pre RS level. Its at 7.00 a share now which is 1.40 pre split price, some 2 years later, and GOOGLE, YAHOO etc are getting all the advertising dollars.
So being the first into a sector, with all the patents etc, isnt worth much if you dont have good management to execute a great business plan. Just for kicks look at VCLK and AQNT, 2 companies that were started after TFSM and look at their bottom line profits. Both are profitable while TFSM the pioneer is yet to make a dime of profits since the company was founded in 1995.
If what was stated here on friday, about the 54 million new shares not approved by SEC yet is true, how can you expect the reversal to have occurred. There is another 54 million shares ready to come to market, that have to be absorbed, and at 1 to 2 million shares trading per trade day, that would take about 2 months or longer to absorb that many, since theres only 5 trade days in a week, and much of that million shares a day would be regular investors as well.
william and charles fritz are the 2 directors who founded the company, and I think I made it clear in my post they are the only 2 insiders with more shares then myself.
success I have done DD on this stock
For several years now. As for my moniker just showing up and being created today, thats right. But check the YAHOO message boards and you will see thats where I normally post, with the same moniker, which has been in effect since 1997.
As for NISKO, they have been the primary source of IPOINTS funding for some nearly 15 years now with a limit of 1.5 million I believe, and how much are they making?
I also find it funny you skipped over the issue that IPOINT has zero clients now. Their only client was Duetsche Telecom in GERMANY. Wonder why an Isreali company has no clients at home?
Yes NEOM and Cornell are two big shareholders now, as they recently paid 2 million dollars(1 million each) for 40,000 shares at 24.00 a share. 2 million dollars for a company with no clients? Is that good management of our dollars?
As you know the SEC does not investigate the actions of companies, based on their filings. If they did there never would of been an ENRON or MCI debacle etc. I dont know if you are aware but this year the number of actions by the SEC increased dramatically, I can give you the link to the article if you wish. Most of these actions are brought on by tips, not the SEC performing its ordinary duties.
Yes IPOINT was required to file with the SEC to register the shares. Its ironic however that IPONT was not and still is not a publicly traded company, even though the filing states they now are a public company formed in Delaware. Do a search of the pink sheets and see if they are there yet. Perhaps the SEC will reject their filing, since they have no revenue and no clients?
As for my attempts to get information, I have spoken to the CEO in the past, and recently was forwarded to David Kaminer, who gave me a line of trash. When I wasnt happy with his response is when I again attempted to communicate with the CEO to no avail. Its been since Nov 23.
Lastly you claim that the new 54 million shares has no effect on the market, because they havent been approved yet. Thats just a formality isnt it? And how many investors you know dont get skittish and run for the door, when they see a dilution of over 10 percent about to hit the market? And lets not forget NEOM shares went from 30 million in 2003 to 450 million 2 years later. Talk about massive dilution, and not a dime of earnings to support it.
By the way the company(IPOINT) had about 500,000 shares and NEOM and CORNELL purchased 20 percent of those outstanding shares, so just how big an investment do these other companies have?
Oh and as a new member I am only allowed 3 posts a day, so this is my last one.
GLE1
Woogerbear,
Have you looked at how many shares the insiders actually possess.......That may answer your question as to why they didnt sell at higher prices. Based on whats reported at Nasdaq.com and Yahoo.com, I presently own more shares then most of the insiders and most of the institutions. There are 2 institutions with more shares and 2 insiders, and those 2 insiders are the 2 directors that founded the company, and loaned the company 10,000.00 and got options for 10 million shares at .01 a share for the loan....thats just 1 example.
Even the CEO holds less shares then myself, although he has options for millions if he decides to exercise them. But we arent talking about options here, I am talking actual shares of common stock, and I have found only 4 with more shares then myself.
I will probably be labeled a basher as well but I hold over 100,000 shares and of late have been very disturbed by the ongoings of NEOM. I have sent the CEO 2 emails and downloaded a complaint form to file with the SEC to investigate the company. Here are some of my concerns.
1. When NEOM purchased CSI it was a profitable business, even according to their press release, and now almost 2 years later its losing money hand over fist. The cost of revenue alone is nearly as much as the revenue they are generating, before general and admin expenses are even accounted for. Further after reviewing the SEC filing in detail it was a family operation, and all the share holders last names where Hill. The significance of this you will see in my next point. Besides the fact that NEOM paid 2.5 million for this business, plus 7 million shares of common stock, and in return got a guarantee that the company would have at least $200,000.00 in assets is a joke, especially now after seeing the huge losses to date.
2. Ipoint media is also a family owned business apparently, which had 1 client whom they lost in early 2005 and now have zero revenue. This is the company we were promised shares of as a dividend. Ironically NEOM and CORNELL(sound familiar) both invested in this company in 2004 and NEOM bought 1 million dollars worth of shares at over 24.00 a share as did Cornell. I know I have not recieved my didvidend shares, and I dont know if any of you have, but now over a year later they are pretty much worthless, since the company has zero clients and zero revenue. I believe when they filed to register the shares in JUNE or JULY the total revenue for 2005 was $15,000.00. And we paid 1 million of our funds for this???????
3. Speaking of the 1 million, we borrowed the funds from Cornell to purchase CSI. In return we gave them a sweet deal with options to buy our stock for pennies on the dollar, plus a 5 percent retention fee, same deal that has been entered into with IPOINT. Then we borrowed from them again to invest the 1 million in ipoint as well as to purchase BSDS. We are repaying those loans by selling them shares of NEOM and then using that money to pay the loan. However they are required to sell shares on the open market as they acquire new shares so that they never hold more then 9 percent of neom shares. Thats why the recent registration of 54 million shares to be sold by Cornell and the Consulting firm, of which NEOM doesnt see an7y of the money. Thats why there is so much downward pressure on the stock price currently. There are 54 million new shares just registered and being dumped on the market by cornell.
anyone with any thoughts or opinions I would like to hear them. I have other concerns as well, but these are my main ones at the moment. I recently moved from the Ft. Meyers area to Texas so I wont be at the meeting but I bet it will be a lot of smoke and mirrors, as I have been getting from insiders all along. Their PR man cant even get the dates right as to when paperclick was initially launched.