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Well you just blew the **** out of that theory LOL.
Jonsie, I'm aware of the no shorting language associated with the latest financing. I do not know, and have not had the time to look, at whether or not that type of language existed in earlier financings but I do not believe that it did. If in fact the shorting option available to YA has been eliminated by new language it may mark a turning point in pps as the stock may be allowed to trade in a more natural supply/demand scenario with less downward manipulation. I would appreciate any knowledge you can provide regarding earlier language.
Regards
clawman, IMO your post is pretty much on the money. If we could get Jonsie to annotate a chart showing conversion dates with verticle lines and conversion prices with horizontal lines the picture gets pretty clear as to what YA has done and when. (Would do that myself but lack the skill to post a well annotated chart). Ultimatly though IMO, it will come down to what is this company actually worth vs market valuation as to potential ROI. YA can manipulate the pps but management is responsible for determining that value.
Regards,
BE, any opinion as to the relevance of this article as it relates to NEOM and Android functionality? If it relates at all that is. TIA
Google browser takes advantage of Apple software
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20080902&id=9087043
The truly sad part is that when these preferreds were originally issued, 22mm face value and .50 exercise price there would have been 44mm minimum shares associated with the financing and now we sit at somewhere near 1 billion.
Ok-this will be my last post on this subject. Kinda beat this horse to death.
Regards
You just answered your own question. "Why was the fixed price changed?" If the share price ever makes it back to .50 it's a lot better for YA (and only for YA) to convert at .02 than 97% of .50
From the 10Q
The fixed conversion price was reset from $0.50 to $0.02 on August 24, 2007, as an inducement to YA Global to enter into an additional financing arrangement with us at that time.
Claw,I think you may have misunderstood my statement. .02 is the fixed exercise price (as detailed below) in other words the maximum price of shares converted from preferred to common. The share count associated with these potential conversions will not go below the face value divided by the fixed conversion price. There is no doubt that conversions have occurred at much lower levels. Please refer to my post no 148137 for additional detail.
On February 17, 2006, we issued 22,000 shares of $1,000 Series C 8% convertible preferred stock to YA Global. The Series C convertible preferred stock is convertible into our common stock at the lower of $0.02 per share, or 97% of the lowest closing bid price of the common stock for the 30 trading days immediately preceding the conversion date. The fixed conversion price was reset from $0.50 to $0.02 on August 24, 2007
Your absolutly right, please substitute discuss for disclose.
Also on GoMo site and kind of hard to read, but it looks like she has meetings scheduled with NEOM for an hour each day of CTIA. Any speculation regarding what NEOM may have in the works that would take several installments to disclose?
http://www.gomonews.com/ctia-approaching-fast/
Not sure if that was a comment or a question. If it was a question, your answer can be found here. Pages 9-10-11-12
http://www.sec.gov/Archives/edgar/data/1022701/000114420408047380/v123671_10q.htm
I'm pretty well finished with the financing conversation. I prefer to focus on upcoming events i.e. patent reviews, new patent issues, CTIA, cc, company announcements, etc.,and most importantly my own investment strategy.
regards
Beam, actually the shares underlying the convertibles are already registered at their face value of .02, if I'm not mistaken. I suspect that YA is holding their 57 mil shares at any given time and will sell into any blockbuster news. They can and, most likely will replenish their supply rapidly. Since these convertibles have a fixed exercise price of .02 the allocated number of fully diluted shares will not decline below the .02 conversion factor unless these instruments are retired somehow. (doesn't mean that they will convert but they can, if buyers are available) It does appear to me that short selling has stopped for now and as long as pps is increasing they have no reason to short the stock. I believe that the latest financing contains some language prohibiting shorting of the stock but have not had time to research that one yet. I would note that conversion, in and of itself, does return ownership to the retail stockholders as a percentage of fully diluted share counts, accept for that pesky "secured by essentially all of our assets" language. In defense of YA they are holding a very risky investment themselves and IMO are entitled to a fair return. Afterall they have somewhere near 50 million invested in a company with a market cap of somewhere near 5 mil. Once again all of these comments are IMO and FWIW.
Regards
MIKEE, it does appear that we have a new patent indeed. Looks like it strengthens our position in the PWC space. Searchable on USPTO site Application No. 11269139. There was a time when we would have seen a PR for such a development. Maybe it isn't quite official yet. We also have several more in the works.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31242436
http://portal.uspto.gov/external/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLN4gPMATJgFieAfqRqCLGpugijnABX4_83FT9IKBEpDlQxNDCRz8qJzU9MblSP1jfWz9AvyA3NDSi3NsRAHxEBJg!/delta/base64xml/L0lJSk03dWlDU1lKSi9vQXd3QUFNWWdBQ0VJUWhDRUVJaEZLQSEvNEZHZ2RZbktKMEZSb1hmckNIZGgvN18wXzE4TC80NS9zYS5nZXRCaWI!#7_0_18L
In addition to Jonsies comments I would offer the following:
The following tables represent data presented in the most recent quarterly filing. I copied the info as presented and dropped it into an Excel spreadsheet for analysis.The first worksheet represents the status of the Series C Preferred shares. I used company provided info to calculate the actual conversion share price that YA has converted at to date (.0022 at last conversion 7/22). The second chart represents the companys calculations of fully converted debt instruments. It appears that the 23 bil+ figure comes from a conversion price of .0022. If one were to assume that the share price could move up to .02 which is the stated exercise price for all convertibles, one would come up with a fully converted number of 2,598,679,050. This would be in addition to the currently reported outstanding share count of 1,145,224,960 shares for a grand total fully converted share count of 3,743,904,010. Getting to and sustaining a PPS of .02 is a critical milestone and brings the fully converted share count within a reasonable level. It should be noted that these figures do not include the most recent round of financing. It should also be noted that legally YA can hold a maximum of 4.99% of the OS count which would be 57,146,726 at any given time. Total NEOM shares traded year to date as of 8/22 is 835,496,557. It would be very difficult for YA to "dump" the debt instruments on the market at those volumes because you can't sell shares if no one will buy them.
I present this information for information purposes only and will not be responsible for the accuracy of the data as it represents a nonprofessional's attempt to understand what he owns.
All of the ones posted on 8/29, check the download boxes and it will pull all of them up as a pdf file.
Try this link. Application No. 90008779. I like this part of the response (see note at bottom) It's nice to have the EFF sitting on the sidelines from this point forward.
http://portal.uspto.gov/external/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLN4gPMATJgFieAfqRqCLGpugijnABX4_83FT9IKBEpDlQxNDCRz8qJzU9MblSP1jfWz9AvyA3NDSi3NsRAHxEBJg!/delta/base64xml/L0lJSk03dWlDU1lKSi9vQXd3QUFNWWdBQ0VJUWhDRUVJaEZLQSEvNEZHZ2RZbktKMEZSb1hmckNIZGgvN18wXzE4TC80NS9zYS5nZXRCaWI!#7_0_18L
Several other documents included. Can't get a link to the site to work for some reason.
Patent owners response is available on USPTO website. Check Image Wrapper File tab. Something to read over the weekend. Application No. 90008779
GoMo News articles this morning.
http://www.gomonews.com/google-new-mobile-barcode-print-ad-strategy/
http://www.gomonews.com/quattrouote-italia-qr-code/
http://streetstylz.blogspot.com/
NEOM response to USPTO due by 9/3, No updates on USPTO website as of this morning.
Wouldn't get my hopes up too high on the patent thing. USPTO has rejected all 12 claims in a preliminary and Non final action. See below
Jonsie, actually they can convert at 97% of the lowest closing bid price for the prior 30 trading days. The lowest close in that time period currently sits at .0025 and will remain there until 9/12 I believe. It will then be replaced by the recent low close of .0031 until 10/04 unless we make a lower low prior to that date. Bottom line is that even at .0033 per share they can make a nice little 32% gain or therabouts. Anyone know if "lowest closing bid" price is the same as lowest closing price?
Y.J. I am a party to this "abortion of an investment" and as most other shareholders I have had to pay. I think we have the same opinion of YA tactics, but it is my belief that the best chance of recovering anything of value resides in share price appreciation. I am however a good soldier and if litigation is ultimatly the only recourse then I stand ready to contribute to the cause. I would only hope that there is more to recover than the current market cap of something near 5 million.
Regards
That's an easy one JP. It would be the shareholders of course. Perhaps we can add another zero behind the decimal point as the result of a shareholder lawsuit and instead of YA converting their 19,674 Series C shares for 476,190 to 1 they can convert for 4,761,900 to 1. In addition, we could move the company reported 23,624,355,000 shares of fully converted debt instruments into 230,624,355,000. Then instead of looking at a RS of 1 for 100 we could get 1 for 1000.
Edited to add: oops forgot to add the currently outstanding of 1,145,224,960 shares.
I don't see anything that would preclude a Brew-based Neoreader although it is not expressly included.
1) The Company shall have completed upgrades to its NeoReader mobile phone technology to enable compatibility with multiple mobile platforms (including Java, Windows Mobile and Symbian) in compliance with Original Equipment Manufacturer standards, and with multiple barcode symbologies (including Data Matrix, Aztec, QR Code and various 1D symbologies) in each case in compliance with Association for Automatic Identification and Mobility (AIM), and/or industry standards;
Yes indeed, and both will be well represented at this event. If there are any developments in the pipe line I would think that an announcement around this event followed by the cc would make sense. Remember that NEOM has committed themselves to an upgraded reader, completed infrastructure for Neosphere and, a completed trial with a tier one telecommunications provider by the first of the year.
Interesting timing
CTIA Wireless I.T. and entertainment 2008
When: September 10-12, 2008
Where: Moscone Center, West San Francisco, California
http://www.ctia.org/conventions_events/index.cfm/AID/10169
Exhibitor List
Company Name Booth #
NAVTEQ 323
NBC Universal MR-209
NeoMedia Technologies 229
Netbiscuits 827
NetNumber, Inc. 115
NetProSys, Inc. 357
Networks In Motion, Inc. 1331
NeuroSky, Inc. 458
Neustar, Inc. 315
NewBay Software 1239
Nokia MR-55
Nokia Inc. 707
Novarra Inc. MR-255
Novatel Wireless 1131
NSTL, Inc. 551
Nuance Communications, Inc. MR-206
Numerex 1501
Interesting deployment of 2d barcodes. Looks like Upcode Reader.
Appears to contain a revenue model.
https://accenture-shootoutforhighperformance.com/index.php
https://accenture-shootoutforhighperformance.com/cheer-mechanics.php
b. Cheer through your phone's mobile application
i. Open to Smart subscribers only.
ii. Subscriber should have a camera and Wireless Application Protocol (WAP) compatible phone.
iii. To start, subscriber should key in: "ACCENTURE" and send to 2861.
iv. Subscriber will receive a confirmation message containing instructions and URL where mobile code application may be downloaded
v. Subscriber should click on the URL to automatically install the mobile code application.
vi. Once installed, subscriber can take a photo of the mobile barcodes which may be found in flyers, posters and banners.
1) Posters and/or banners will be placed at or near the campuses of the eight (8) UAAP school teams and at the game venues.
2) Flyers will be distributed in or near campuses and during the UAAP games.
vii. These barcodes will initialize the phone's internet browser and subscriber will be directed to a WAP page where he/she may fill out the registration form (name, age, e-mail, mobile phone number, school/employer) and
follow instructions.
viii. Upon sending the registration form, subscriber will receive a username and activation key that can be used whenever website access is needed.
ix. Registration using mobile codes corresponds to one (1) cheer. Subscriber can access the website and use the username and password issued using the mobile code application.
x. Both SMS message "ACCENTURE" to 2861 and mobile code application download shall be free of charge but only for the first two (2) attempts.
xi. The participant shall be charged on the 3rd and succeeding transactions with the following standard tariffs:
1) "ACCENTURE" to 2861: P2.50 for Smart
2) Upcode Application Download: P15.00 for Smart.
Nokia intercepts iPhone
http://infotech.indiatimes.com/articleshow/3380303.cms
http://infotech.indiatimes.com/slideshow/msid-3380386.cms
A quick comparison of features of both handsets shows that while the iPhone scores over the N96 with its larger 3.5-inch multi-touchscreen, it only comes with a 2 megapixel camera.
N96, which has a two-way slide keyboard and a 2.8-inch screen, comes with a 5 megapixel camera.
Thanks Sean, article called it a QR code and I couldnt see it well enough.
Regards
Some of the links in this article are pretty interesting.
http://google-tmads.blogspot.com/2008/08/new-way-to-click-2d-barcodes.html
http://www.flickr.com/groups/qr/pool/
American Airlines ad using 2d code pictured.
http://www.webbmediagroup.com/QR_Tipsheet.pdf
By my count, YA has converted 466 shares of Series C Preferred into 152,500,000 shares of common stock in 2008 as of 7/22 per the latest quarterly filing.
Visual Code Consortium, Singapore
Cannot find member directory, anyone know if NEOM is involved?
Interesting website, nonetheless
http://vcc.sg/
http://vcc.sg/about.html
http://vcc.sg/revolution.html
http://vcc.sg/tech.html
http://vcc.sg/opportunity.html
Anyone see a possible connection here? Weren't we doing something with Telstra at one time?
http://www.flickr.com/photos/mobiusmobile/2686769938/
http://www.qrious.com.au/main.html
http://www.outputlinks.com/html/news/copi_COPI_Launches_CodeZ_QR_TransPromos_Next_Big_Trend_081808201124.aspx
First of all good Dr. let me express my respect for your opinion, but you know this game as well as anyone so why dont you play the same game as those making money at it? Sell on the spikes and buy the frustration. I have resized my position 3fold at no expense by selling the spikes and buying the depressions. I bought a nice chunk of shares at .0025 and sold them at .01 for a nice profit. I have been keeping my base of 2million shares but playing a million or so at a time on the ups and downs. I am currently holding 5 M at a total cost basis of .006 and expect to be green in the very near future. Ihub is a great tool, having read all the current posts from this weekend, it is safe to assume that sentiment is very poor. For me that sounds like a buying opportunity! Give me a little good news and I'm a seller again. Keep up the pattern and I will own the float. GLTY
Ralph Lauren project article
http://storefrontbacktalk.com/story/080814polo
But Polo Ralph Lauren's approach is homegrown versions of open-source applications. "It was all done by our internal team," said Polo Ralph Lauren's corporate communications director, Ryan Lally. "We do have an amazing in-house team that pulls these kinds of things together."
The deployment will support nine mobile phone carriers, according to Polo Ralph Lauren's Web site: AT&T, Alltel, Boost, Cellular One, Nextel, Sprint, T-Mobile, US Cellular and Verizon. But some outside the retailer questioned just how many phones would actually be able to support Polo Ralph Lauren's homegrown version.
The issue of supporting a 2-D barcode typically involves the resolution of the digital camera in the phone as well as the platform/OS of that phone. Generally, CR codes are much more detailed than what some 2-D merchants—such as Scanbuy and StoreXperience—sell. That can mean that the barcode itself might need to be larger (to accommodate that much more information), which would require cameras able to support a higher resolution. Lally didn't say what the required resolution was.
"The more pixels in a three-quarter inch square, the harder it is for a camera to pick it up," said David Javitch, Scanbuy's marketing VP, who admittedly would rather have had Polo Ralph Lauren pay the company to use its own 2-D application.
That said, Javitch added that the retailer's decision would likely limit its choice to a small number of smartphones, which he said would likely exclude some 93 percent of the U.S. population of cellphone users.
Javitch said he tried the Polo Ralph Lauren code with a BlackBerry and it "worked OK," but it failed when he tried to use a Sprint Muziq phone.
Not just promised in the Benna interview!!
Investor Relations
Shareholder Communication Policy
http://neom.com/153.html
NeoMedia has always, and will continue to keep shareholders apprised of any material information, in line with what is expected from a public company.
As part of these efforts, NeoMedia will hold quarterly earnings conference calls
NeoMedia understands the importance of, and is committed to, shareholder communications. As a public company with limited resources, our first duty is to run the business in the best interest of our shareholders. We try to be as responsive as possible with shareholders by trying to anticipate questions and by responding to questions via email (IR@neom.com)
like that?
The financial picture hasn't changed much for NEOM but the outlook is changing quickly. The RL project is getting a huge amount of press coverage. How much payback in free advertising have they already gotten from this campaign vs what it may have cost them to implement it? I for one plan to support the initiative by making purchases through RL mobile on my friends Iphone and would recommend that everyone else do the same. RL needs to be rewarded for being the pacesetter in the US IMO.
Unrelated link:
http://news.yahoo.com/s/nm/20080815/tc_nm/tmobile_android_dc;_ylt=AlNvcL2Rr4b43ZNcplAINIIh2.cA
Nice publicity, thanks for posting.