Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
JP, this is spinning into directions ...
... other than what I posted. As a refresher so you can respond relevantly if you wish:
I said
"Chip (former CEO of Neomedia) is nothing if not 'a talker', you forget I sat across from him in the NeoMedia conference room for an hour. Having been in sales for nearly 30 years now I know 'a talker' when I'm around one lol.
Anyone wanting to get an assessment of the 'achiever' part of CH can simply go to the detailed resume I posted when he first came on board. In reality it looks like a death spiral resume, similar to the death spiral financing NEOM obtained from YAGI."
Now I never said I had him all figured out, I replied to your saying he isn't a 'talker' ... which he is.
I also commented on your calling him an achiever and pointed out the facts of his death spiral resume, which along with his dismal record of non-achievement at NEOM certainly naysays any idea of 'achievement' with respect to any good it did any NEOM shareholder. Which, after all, is the point, right? What can they do for SHAREHOLDERS. I mean, besides what they can do for the largest virtual holder of shares, YAGI.
No, I don't have CH all figured out, I don't understand at all people who take money like him and his ilk do in return for absolutely nothing.
jonesie
"chance cold call encounter"
Not even close. I emailed Chip with concerns, he invited me to stop by and talk with him and Frank Pazera. Personable, but holding only (ultimately dashed) hopes tied to some real or planned visits to an AT&T conference room 3 miles away.
I'm happy you're enamored with your complete understanding of Chip. Unfortunately his accomplishments on behalf of Neomedia shareholders and the value of their investments were nil. No, worse than nil, he presided over back to back 90% reductions in share value.
My comments as to his death spiral resume remain valid.
jonesie
"disgorgement" in this case would relate to ...
... proving in a court of law that YAGI had done something illegal while making money converting preferred stock and selling it, or while doing anything else pertaining to NeoMedia, and having to forfeit (disgorge) any ill-gotten gains. The company could end up with some of that money, or shareholders, or the government, someone else probably knows something about those options.
While it's possible YAGI has made a mistake somewhere, one might reasonably assume they know what they're doing and have covered themselves 18 different ways. I suppose nobody, not even an experienced hedge fund, is perfect or impervious to the siren call of greed.
jonesie
Wrong about what?
His resume is a death spiral resume .. from big companies to smaller companies to trying to work for himself, then to presiding (not achieving anything, just presiding and talking) over a penny stock non-revenue-generating company (Neomedia) while its stock price plummeted and the death spiral toxic financing grew ever more deadly.
I suppose beauty is in the eye of the beholder so if anyone thinks his resume smacks of meaningful achievement in the business world (please save the stuff about how 'he' did such great things with SMS lol) they are entitled to that opinion.
jonesie
p.s. As personalizit says, CH's command of the written English language left much to be desired in a 'CEO', I have similar emails. But then CEO's of penny stock companies apparently only have to be good 'talkers' and lackeys for the puppetmaster financiers to get paid for a while.
arpvrp , that is an excellent ....
.... explanation of the real hows and 'whys' of what everyone has been witnessing for years now.
jonesie
"even though he most times is quiet and is an achiever, as opposed to a talker"
Chip is nothing if not 'a talker', you forget I sat across from him in the NeoMedia conference room for an hour. Having been in sales for nearly 30 years now I know 'a talker' when I'm around one lol.
Anyone wanting to get an assessment of the 'achiever' part of CH can simply go to the detailed resume I posted when he first came on board. In reality it looks like a death spiral resume, similar to the death spiral financing NEOM obtained from YAGI.
JMHO
jonesie
LOL, so it will be how many months ...
.... before a shareholder might actually know if NEOM's IP was licensed for anything more than some goodwill, for a hot dog, for drinks at the golf course, or for $100.00?
How much did NEOM get from that Virgin license?
Same game, same playbook, different players from time to time.
jonesie
Did NEOM actually get ...
... $100MM?
4.99% indeed ...
... and they could convert/dump that much every day if the market would buy it from them.
"Why would YA sell for less then they could"
Because they know everything there is to know about the company (George O'Leary still on the BOD, right?) and they and their paid analysts/consultants know everything there is to know about 'the space'.
Why dump indeed, when everyone here is telling them this is going to be 'huge'? I doubt the guys at YAGI need lunch money. Their computer programs assist them in working this otcbb/wishful system and squeezing out the most money possible ... as long as it's still possible to squeeze it out.
JMHO
jonesie
Think one of Neomedia's 'strategic alliances' ...
... managed to pull this off? I mean, they're in Colorado and that alliance began nearly a year ago.
http://neom.com/press-detail.php?id=15
Probably not.
So, is it QR codes throughout the paper? Nobody felt/saw the need for an indirect code?
jonesie
"retire vendor debt"
Was that the phrase used? LOL, most of us say 'pay the bills'.
Does it make sense that if TIV thought they would be making a lot of money/profit anytime soon they wouldn't be talking about raising money (getting loans/investments) to pay their freakin' bills.
jonesie
"after more disappointing tests came back in (pick one of many, many, many dates), Mr Blystone had to start calling investors to tell them they had lost thousands of dollars."
I'll wager there have been a lot of calls in the other direction in more recent years lol.
clawmann, I think it's perfectly fine ...
... if you purchase a copy of Neomedia's corporate charter and decide not go to further trouble just because you're asked to by someone who often asks others to perform various Neomedia-related tasks. Attempts to assign Neomedia-related research tasks to others get a little tiresome after a while, particularly when you have provided incredible amounts of detailed research, analysis and logical commentary over the years.
I wonder if there will be follow-through tomorrow ... that's a lot of shares traded on news to only push the PPS up half a cent. I know, I know, +45%, but 'HUGE' news should push things towards those nickels/dimes/quarters as often promoted.
So, people thinking it's a toothless licensing deal with little to no revenues attached (like the Virgin 'win'?), especially with ol' Neomite Chip doing the licensing?
Or is YAGI just dumping into ANY spikes at all now?
Rhetorical questions.
jonesie
"Neomedia will probably disappear from the map."
That is a profound statement coming from you dlethe01. Is that what it feels like to you?
jonesie
Good point, he's not doing apples/oranges ...
... he simply misspoke. When Beacon said total outstanding he actually put up the fully diluted number.
I'd have to go look and I don't have time to, but it doesn't seem possible that a recent fully diluted number would be anywhere near 1.5 billions shares. Fully diluted assumes every convertible share and warrant converted or cashed in and adds it all up. I could be wrong. Clawmann can probably clear it up.
jonesie
The writer of that report has an apples/oranges problem ...
... he is comparing recent OS with previous fully diluted.
As you will recall, in the quarterly report for 1Q08 NeoMedia reported a fully diluted share count of close to what the writer says. The actual number in the 10Q was 9,617,290,165, why the writer couldn't quite get that right is unclear.
http://www.sec.gov/Archives/edgar/data/1022701/000114420408029387/v114084_10q.htm
The writer appears to have made a silly mistake, or is improperly trying to convey the positive impression that NeoMedia has dramatically reduced its outstanding share count over the past year.
Either option supports your hypothesis.
jonesie
DOGGR OPI SITE 2009 PRODUCTION ...
... had skipped from March to May, now April production is showing.
TIV has certainly increased production. From bouncing around between less than 2000 and 3000 bbls per month, to 5000 bbls per month, to two consecutive months over 10,000 bbls per month.
It's a far cry from last May's claims of 2000 bbls per DAY, but the fact remains they have increased production substantially.
How many millions did that increase cost, and one has to wonder if they are producing oil profitably (as in, having a positive EPS). I guess we'll know a little more when the 2Q comes out mid-August.
So, that news was regurgitated somewhere today 7/27/09?
From 7/22: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39768167&txt2find=phoenix
"Do you believe NEOM has a future for its shareholders?"
If it does it won't be because NEOM management or YAGI cares one whit about shareholders as has been evidenced by their total disregard and lack of respect for them. 'We don't need no stinkin' shareholder meeting, we'll just ask some blogger to tell the shareholders to stay tuned.'
"Are you a shareholder?"
Absolutely irrelevant to a facts-based discussion about NeoMedia.
"If so, why do you still hold shares with this sentiment?"
See above.
"If not, why haven't you been able to convince others to sell?"
Not trying to, not at all, simply discussing various facts and factors related to NeoMedia, I never suggest a buy or a sell or opine on how much a share will be worth based on some speculative wishful thinking. I did however illustrate scores of examples of YAGI clients all of whom saw their PPS go to .001 ... all based on painstakingly obtained, tabulated and analyzed facts ... and all way before NEOM's PPS went there.
"WHY IS EVERYONE HANGING ONTO THEIR SHARES IF YA IS JUST GONNA PUT NEOM OUT OF BUSINESS?"
Betting that YA doesn't?
"Isn't it better to get SOMETHING for your shares than nothing?"
That's a rhetorical question right?
jonesie
That's really about all one can talk about ...
... when it comes to NEOM.
Folks can talk:
- Very little about anything actually related to something NeoMedia is known to be doing. (Actually, 'very little' pretty much equals zero.)
- A moderate amount about the biggest facet of NeoMedia's existence and largest factor in likely outcomes for shareholders ... YAGI.
- A lot about what everybody else in the space is doing which has nothing to do with NeoMedia.
jonesie
NEOM didn't 'turn' anything 'down' ...
... as that entire amended deal was structured the way YAGI wanted it to be structured. NEOM had no say in it, just like they haven't had any say in anything related to their finances ever since they let YAGI get their hooks in so deep.
"On April 6, 2009, the Company and the Buyer entered into an Amendment Agreement (the “Amendment”) whereby the SPA was amended in order to reduce the value of the third secured convertible Debenture (as discussed above) from $4,000,000 to $1,100,000"
Okay, the amount of money to fund the company was reduced by nearly 75%.
"and whereby such Third Closing (as defined in the Amendment) would be broken down into two (2) separate closings, the first to occur on April 6, 2009 pursuant to which the Buyer shall purchase a secured convertible Debenture in the principal amount of $550,000, and the second to occur on May 1, 2009 pursuant to which the Buyer shall have the option (in its sole discretion) to purchase a secured convertible Debenture in the principal amount of $550,000."
With everything being done at the BUYER'S discretion being the operative and overriding theme here. As always.
And what did NEOM get for shareholders? (yeah, those pesky shareholders, the bane of otcbb penny stock companies who wish they could somehow get a direct pipeline into the public's pockets without having to go to quite so much 'trouble' lol).
"Furthermore, the Amendment reduces the amount of funds that shall be deposited into escrow in accordance with the terms of the Amendment,"
Yeah well thank goodness, since the $4MM dropped to $1.1MM it stands to reason those management monies NEOM is always having to put into escrow from the proceeds of these loans should drop as well. Duh. Did they drop nearly 75%? LOL.
"modifies certain terms with respect to the reservation of shares and use of proceeds"
Hmmm, think maybe YAGI further cemented it's say-so as to the use of proceeds? Maybe, just maybe.
"and the Buyer waived any event of default that may have occurred as a result of any breach by the Company of those provisions relating to the reservation of shares and use of proceeds under the SPA."
Wow, so that's what NEOM 'got'? YAGI said no worries on defaults right now because we can't think of a better way to keep making money than to keep you a public company with buyers out there buying the shares we dump on their heads by the dump truck load. The only reason to default ya would be when we do get a buyer and we want to wipe out every shareholder besides ourselves. Say thank you for our waiver NEOM.
And what ELSE did the company give YAGI in return for YAGI cutting their funding by nearly 75%? Well, they at least TRIED to give YAGI carte blanche with regards to any sort of recourse NEOM might have had against YAGI for what are most likely numerous transgressions if not outright criminal acts. It remains to be seen whether NEOM management can really let YAGI off the hook for all of their shenanigans.
"Lastly, the Company provided to the Buyer a release from all causes of action, suits, debts claims and demands whatsoever known or unknown, at law, in equity or otherwise, which the Company ever had, now has or thereafter may have on or prior to April 6, 2009, and any claims for reasonable attorneys’ fees, penalties, liquidated damages, and indemnification for losses, liabilities and expenses, in consideration for the Buyer’s accommodations made in the Amendment."
So, wow, NEOManagement gave away what little was left of the farm in return for less money and YAGI saying we won't default you ... right now, anyway.
Negative or positive? Positive for YAGI, negative for everyone else except Iain and whoever else is left drawing a nice salary and whatever other perquisites they can siphon off.
Where in there does it say NEOM 'turned down' anything? Nowhere. It only says YAGI pulled the strings and NEOM danced like they always do before they sign on the dotted line with the pen YAGI hands them.
re: " longterm NEOM backers have a different view of life. Our investment in NEOM was worth one-tenth of one cent". Since you brought that up I think it's fair to say after reading thousands of posts from those 'backers' that they bought shares way higher than .001 and may have averaged down but it would be nearly impossible to say that many or even any somehow managed to get their cost basis down to nearly the lowest price NEOM traded at in the last few years. If some did that's great, but to say most 'longterm'ers managed that is quite a stretch. It conveniently leaves out all of those years of buying at higher, albeit ever-dropping, prices.
jonesie
Yepper , that has indeed been the main business to date ...
... with the requisite support systems put in place, e.g. the illusions of doing something productive , the promises of doing something productive , and the oh so detailed SEC filings making it all nearly perfectly legit.
TOP INSTITUTIONAL & MUTUAL FUND HOLDERS
# of institutions holding TIV shares dropped from 40 to 38. I think this may be through end of May so it doesn't include Russell-related holders which we will see disappear in later updates.
Major Holders
BREAKDOWN
% of Shares Held by All Insider and 5% Owners: 11%
% of Shares Held by Institutional & Mutual Fund Owners: 11%
% of Float Held by Institutional & Mutual Fund Owners: 13%
Number of Institutions Holding Shares: 38
MAJOR DIRECT HOLDERS (FORMS 3 & 4)
Holder Shares Reported
GAMBLE G THOMAS 2,173,650 15-Aug-08
BLYSTONE F LYNN 500,103 11-Jul-08
MILLER LOREN J 297,800 2-Jan-08
BELL ROBERT A 11,400 27-Oct-08
LOWENSTEIN HENRY 4,200 2-Jan-08
good morning clawmann ...
re: "the amount YA actualy paid in cash for the shares earlier acquired below par"
Okay, not nearly enough coffee yet this morning so these are most likely going to be dumb questions.
Are the shares you are referring to acquired through conversion of convertible preferred or other instrument?
Does YA pay cash for anything in these transactions?
I thought I remembered, from some of the calcs I did on the hypothetical number of shares YA could have converted into at various price levels (remember the 28 billion?), that YA just takes the cash value assigned to each share of convertible preferred stock and divides that by some discounted amount lower than the lowest closing bid in the period previous to the conversion.... thus determining the number of shares they then have to dump on the market.
Isn't a convertible preferred share worth $1000 for purposes of these transactions? So if the discounted share cost ends up being on or around par (.01) YA gets 100,000 common shares for each convertible preferred share. They aren't actually buying anything from anyone in these transactions or paying 'in cash', right?
Okay, how far off is my memory? lol
Thanks.
jonesie
clawmann, thank you for the info ...
... and for digging it up w/analysis.
"For purposes of Regulation FD, a posting on a blog, by or on behalf of the company, would be treated the same as any other posting on a company's web site. The company would have to consider the factors outlined above to determine if the blog posting could be considered 'public.'"
Bena isn't quite a blog 'by or on behalf of' NeoMedia. She covers other companies/events/etc ... some of which might not even have to pay her LOL.
Now, if NEOM wants to put a link on NEOM's website saying 'here is Bena's blog and she is one of our news outlets, check there first for breaking news and updates, we'll get it on our website eventually too' then they might be okay.
Right now it's in a major gray area and IMHO is just one more instance of loose lips flapping around NEOM.
Thanks again.
jonesie
p.s. Wow, arpvrp and hiijacker's posts about Bena saying something like she isn't going to talk about Scanbuy if somebody doesn't pay her, and deleting comments re: Scanbuy .... that is just amazing. NEOM/Bena just got into an even grayer area IMO. No surprise, business as usual as I posted the other day.
Now it is , but ...
... according to Bena's own words it wasn't on the NeoMedia website when she first posted it on her blog.
When queried "Can you show me a public source?" Bena replied "No."
Bena ... and anyone working for her ... (didn't her hubby say he bought NEOM stock? Am I remembering that wrong? If so I will be glad to stand corrected.) definitely has had first peek at quite a few reports of NEOM actions.
I'm not sure where the SEC comes down on that sort of thing ... clawmann? Yours is the only opinion on that type of issue I trust as being informed as well as totally unbiased. (Apologies to anyone accidentally left out of that category.)
jonesie
LOL, hang in there Banks ...
... the right R/S could make that happen ;)
How about this NEOM 'news' dissemination via non-pervasive or non-ubiquitous channels such as an individual blogger? While some folks claim things have changed at NeoMedia, e.g. no puff PRs etc, it really reminds me of the 'good ol' days' when leaky JJ selectively disseminated information.
I think it's really like I said the other day ... the same game , just different plays , with more or less the same group of people being targeted by the various gambits.
jonesie
p.s. Perhaps NeoMedia 'Press' should provide Bena with a better response to questions about her 'coverage' and unique/early access to info ... at least a better 'here's why we do it this way instead of a real PR' answer than 'what a load of nonsense' LOL.
nicehit, I never said ...
... anything about a pump/dump. I merely answered a question regarding how Iain is profiting. I'm sure he'd like more, but what he's getting is a handsome pay package.
Hard to know what YA has or hasn't made in stock sales. They've sold a lot of stock at a profit over the years.
And IMHO, regardless of what it says in the filings, YAGI the hedge fund would certainly know ways to short this stock. Shorting from much higher levels (.40's, .50's, .60's, .70's?) then covering with cheap converted shares is a time-honored method for making money when you happen to know that nothing is going to happen to run the stock up significantly during a certain time-frame.
JMHO and speculating based on what really goes on 'out there'.
jonesie
"What is Iain doing? And how is HE profiting from this death spiral financing?"
Did you ever read Iain's employment agreement and the salary/etc involved? He's profiting just like Chip profited except with more dollars involved ... a very nice salary for what always seems like very little progress. Kind of like just being a figurehead while YA works yet another of their computer-program-driven processes of wealth transferal from otcbb investors to themselves.
Plus he's got a nice commission structure should the company ever get sold ... and should YA not figure a way to keep him from getting it.
JMHO
jonesie
NeilPeart/Streetz ...
It was posted about a month ago , on June 15th
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38737524
Always lovely to see Cornell dotting all their i's and crossing all their t's.
jonesie
p.s. Sorry hangdog , Cornell/Yorkville's t's are more important than sailing ship T's and cannons and broken masts ... as in , Cornell/Yorkville already 'Teed off' on NEOM shareholders with the Big Bertha of toxic death spiral financing / dilution.
DOGGR FTP SITE SHOWS APRIL 2009 PRODUCTION ...
DOGGR OPI SITE SHOWING 2009 PRODUCTION ...
What happened to April?
PPS = Closed under $1.00 for 8 trading days now?
2008 Production can be seen in the post replied to.
jonesie
Here is more interesting info along those lines, Clawmann ...
... and BTW your digging and interpretation of the SEC filings is awesome as always and I'm sure is much appreciated by those who want to know what is really going on with NEOM and their various relationships.
On August 21 2008 Clayton Parker emailed me in response to a question, actually several questions, which I had posed in correspondence to Chas, JJ, Mark Angelo and in what was at that time the draft of a letter to the SEC.
Among other things, in his reply he said:
"As you can see, 58% of the holders of NeoMedia's Common Stock voted in favor of the increase in the authorized Common Stock. As a result, Cornell's vote was irrelevant since sufficient shares voted in favor to pass the resolution for the increase in the authorized common shares."
Clayton's "as you can see" derived from an email from Scott Womble to Clayton, in which Clayton had posed one of my questions. Clayton forwarded Scott's email to me and it contained the following:
"At the 2006 shareholder meeting, there were 632,306,843 shares of common stock that were beneficially owned and outstanding and eligible to vote.
Of the 632 million, there were 366,948,797 shares of common stock that voted in favor the increase in share quantity, for 58% of the vote."
Scott said ~367MM shares voted 'for'.
However within the Q report associated with that very same timeframe is found:
"Matter #3 Increase to authorized shares
For Against Withheld Total"
567,687,092 48,882,386 1,663,346 618,232,824
Shareholder Letter out by Maston Cunningham
Gotta hand it to him, he is MUCH more literate than Lynn. He can actually write in a way that doesn't evoke outright laughter.
But, it's the same ol' same ol' for the most part. Doing what they've already said they're doing, economy is bad, reducing staff to cut burn rate, trying to raise more money, had to stop the PV program in mid-May for a while to save money ... which I read as advance CYA work as in 'hey, don't expect too much in the 2Q quarterly report' LOL.
Kept saying 'return to profitability'. How long was TIV profitable and for how long? I forget. Was it just that one time when they recorded the sale of the calcium mines, the ones we never really knew the true cost of? Was it another time? RETURN to profitability LOL, that was as good as something about having an enviable reputation for being able to raise money.
They also emailed the Flaherty pump, suggesting it's a good time to read it again. I can't make sense of this sentence, with Lynn doing the writing again I guess that 'makes sense' lol.
"Even though our situation changes fairly rapidly as we advance our projects, the content is currently relevant and, with our unusually low stock present an extraordinary buy opportunity . In case you have not seen it via other means, we attach it herewith."
Changing 'present' to presents could make it make sense. Changing it to 'unusually low stock PRICE PRESENTS' would be even better. Maston, don't let Lynn write anything else, not even a one paragraph blurb in an email.
Wow, sub $1 now, for 5 days. What's the AMEX clock for delisting?
I won't be surprised to see another 'we pumped some oil for 5 seconds and if we multiply that by 17,280 we can claim a nice daily rate' PR which might give a nice spike which could make .90 a good entry for a short term swing trade unless TIV starts piling on the PRs thus lengthening the run as well as stopping the sub-$1 AMEX process.
JMHO
jonesie
Maybe that NeoReader scan ...
found the jumbo container at Costco?
Could be the best price per ounce.
LOL
jonesie
""quietly" agreed" ....
... over a year ago to support a system isn't 'buying'.
Bidding wars, there need to be more bidding wars for the NEOMs and MOBOTs of the world!
:)
jonesie
gophilipgo you are certainly correct ...
... there is growing interest in the mobile advertising/2D barcode reading sector.
jonesie
"what ever happened to word registry?"
It must be on the verge of going ballistic, but there's a NDA on it?