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Excellent analysis and chronology.
Thanks.
jonesie
Everyone realizes it doesn't matter how you vote, right?
All you need to know:
"As of the Record Date, there were 2,267,567,835 shares of Common Stock, 8,642 shares of Series C Preferred Stock, and 25,000 shares of Series D Preferred Stock issued and outstanding. Due to contractual restrictions on the convertibility of Series C Preferred Stock and related voting rights, the current holders of Series C Preferred Stock are not entitled to cast any votes at the Meeting with respect to such Series C Preferred Stock. On an as converted basis, the holders of Series D Preferred Stock are entitled to cast votes equivalent to an aggregate of 2,500,000,000 shares of Common Stock. Accordingly, there are a total of 4,767,567,835 shares entitled to vote at the Meeting."
NEOM is going to go down (in addition to the direction of shareholder value) in history as one of the premier YAGI dilution machines. R/S, crank the price up, have unlimited shares (up to 5 billion minus 22 million or so OS) to dump on the market as long as somebody in the market will buy them. Maybe start another PR pumpathon?
YAGI is great at this and every NEOM CEO lackey and company apologist and company promoter has aided and abetted them. NEOM "employees" spend more time writing and reading filings, proxies and new loan agreements than ANYTHING ELSE.
Sorry.
jonesie
TIV cranking up the PR machine again?
15 bopd wells? Hot stuff.
;)
Seriously, was there anything really good in there?
jonesie
Where is Neomedia with respect to that GMC Granite ad?
Well gee , it's all the way down on page 30 of the google search GMC provides right on their instructions page:
http://www.google.com/search?q=qr+code+reader
Neoreader isn't listed in the instructions along with beetagg and kaywa because they're in a quiet period and are laying back letting the others do the heavy lifting.
Neomedia then MUST SPECIFICALLY be "actually behind GM's 2d barcode ad" , there's the supporting backup JP wanted.
;)
jonesie
Kind of like all the hiring ...
... that was going on at 'breakneck speed' ... but wasn't actually happening at all?
Did NEOM ever make an announcement about Terry the VP leaving? That's material, did they ever mention it at all? Nice catch vines btw, it's nice when someone finds something that's a 'nice catch' and it is actually relevant to NEOM.
Let's see, in these momentous times Terry has left ... Dennis Priddy, the inventor of Datamatrix whose coming to NEOM as Sr. VP of OPs was heralded as such a coup, got a good look-see inside NEOM and left ... I wonder why these people have bailed out before NEOM becomes a multi-billion dollar company and gets to the ring the opening bell on the Nasdaq some sunny morning.
Have a good day.
jonesie
5 STAR POST ...
... A summarized version of this should be made a sticky at the top. This is truly 90% of what matters regarding NEOM, if not 100%.
YAGI was known to destroy companies/shareholder value, I showed it done over 200 times, but this has been carried to an extreme.
NEOM: the poster child for just how toxic YAGI involvement can be.
jonesie
Iain does understand , and always has understood ...
... exactly what 'the game' with YAGI is and what the endgame would be. From the moment Iain signed his contract and garnered his salary , he knew exactly how this would play out and based on that knowledge he carefully gauged his sparse but positive comments to shareholders ... mostly through a non-official blogger named Bena where no 'Safe Harbor' statements apply nor are necessary.
Don't be 'troubled' about Iain, for the reality is Iain thinks and has always thought that it's the common retail shareholders who keep buying/accumulating shares of NEOM stock who are "so naive or to put it more bluntly, ignorant".
Hey , it's the near-pinky part of the otcbb. No , worse .... it's the otcbb + YAGI.
jonesie
NEOM finally doing it.
http://www.sec.gov/Archives/edgar/data/1022701/000114420410001444/v170704_8-k.htm
Finishing giving the farm to Yorkville.
NEOM finally doing it
http://www.sec.gov/Archives/edgar/data/1022701/000114420410001444/v170704_8-k.htm
Finishing giving the farm to Yorkville.
And now the dreaded YA chickens ...
.... are coming home to roost. (Or, vultures coming home to pick the carcass clean?)
As promised.
As predicted by their actions with over 200 other 'clients'.
They will be able to vote everything in that they want to.
They will have that ever-higher percentage of ownership of NEOM which I posted about many ... many ... times.
Certainly nobody is surprised.
Even though these scenarios have become so predictable ... it's still sad to see them play out.
A 1:100 reverse split merely gets the PPS up for a while and affords a longer way down than starting from .001 and continuing to go down. And keeping the Authorized at 5B ... well, that's just obscene. But I believe I listed several companies in my tables where that happened to Yorkville clients ... and their shareholders ... before.
jonesie
'quiet periods' ...
... one of the many refuges of pennyscamstocks.
Amazing that TIV ever got to $2, much less $17. It only got there on hype which turned out to be .... well ... hype.
Form 8-K for TRI VALLEY CORP
11-Jan-2010
Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
In January 2010, Tri-Valley Corporation issued 5,153,332shares of shares of restricted common stock to 75 accredited investors, including 65 U.S. residents and 10 non-U.S. residents.. These sales were made in privately- negotiated transactions in reliance on the exemption from registration requirements contained in Section 4(2) of the Securities Act of 1933 and were approved by the NYSE Amex LLC on January 5, 2010. Prices paid for the shares ranged from $1.00 to $2.00 per share, for a total consideration of $7,171,750.
Tri-Valley intends to use the proceeds of these sales for working capital and to accelerate its oil and gas field development programs already underway.
Wow. That's another ton of dilution. And selling shares at an average price way below market prices lately.
Wow.
'added to the iBox' ...
... the iBox is certainly comprehensive , all sorts of information about NeoMedia new and old ... very very old ... presented as colorfully and prettily as I've ever seen in an iBox.
In the interest of presenting a fair and balanced picture of all factors surrounding NeoMedia as an 'investment' , it might be a good idea to add at least one mention of Yorkville or YAGI + the toxic/dilutive/death spiral financing in which NeoMedia is mired.
If there is one word about that in the iBox I must have missed it and I would think that is at least the 2nd or 3rd ... if not the most ... important thing to know about NEOM as a stock play.
JMHO
jonesie
That sounds nice, awfully nice ...
... although there is an awful lot of supposition included.
All of the 'will' words are purely opinion, and with NEOM being a YAGI client in penny-sub-penny-stock-land they may never ... ever ... get anywhere at all.
Allow me to paraphrase, what is in bold makes this a bit more realistic.
NeoMedia, with their patent position and licensing agent agreement with Neustar, has positioned itself where it might be able to be a mobile barcode infrastructure provider.
NeoMedia, in conjunction with Neustar and the mobile carriers in the US and in Europe might be in the process of creating a billing and transaction infrastructure built on top of NeoMedia's patent portfolio. We haven't seen much in the way of actual proof this is going on.
NeoMedia if successful might collect a transaction fee for every 1D UPC & 2D barcode that is registered through Neustar and then scanned and validated by ANY consumer's mobile device, using ANY kind of mobile code reading application, on ANY carrier's network ... WORLDWIDE.
Those companies who wish to participate in the mobile code ecosystem may or may not need to license and register their codes through Neustar, it remains to be seen if anyone will need to or will even if they don't need to. If they do not, they might be left out and will not receive a slice of the guaranteed revenue share unless they work around NEOM's patents to accomplish their needs in the realm of mobile advertising.
<snip>
From what I hear from industry heads, registered codes will be labeled "certified interoperable" letting consumers know that the barcode is authentic and safe to scan.
Labels on labels eh? That's a hoot.
Best,
jonesie
Tri-Valley CEO to Hand over Reins to President and COO
(About time. No, way too late. Anyway, there's some funneeeee stuff in this. BTW, why do they keep saying 'successful operating company, does losing millions of dollars mean successful in Lynn's world?)
Tri-Valley Corporation (NYSE AMEX: TIV) announced today another step in its management succession plan. Mr. F. Lynn Blystone, 74, will transfer his chief executive officer title and responsibilities to Maston N. Cunningham, 57, now president and chief operating officer on or before March 31, 2010
Mr. Blystone became a shareholder in Tri-Valley in 1969, a board member in 1974 and president and chief executive officer in 1981. He was elected chairman of the board in 2007 and will continue in that post through 2010
Mr. Cunningham, a 22 year veteran executive with various units of Occidental Petroleum, finished his Oxy career as president and general manager of Occidental Ecuador before taking early retirement. He joined Tri-Valley as vice president of corporate development in January, 2009 and was given increasing responsibilities in concert with the Company's management succession plan established by Mr. Blystone and the Tri-Valley Board of Directors
"Tri-Valley has an excellent corps of broadly and internationally experienced management that is more than equal to the task of exploiting the considerable assets and opportunities to build shareholder value. With his motivation and proven skill sets, Mr. Cunningham will continue to forge a strong staff and board team and business model for ongoing Company growth. I am proud to have served the shareholders and project investors many of whom have become friends also over the past 29 years and I am especially pleased to hand over the reins to the fine staff being led and expanded by a dedicated and talented executive as is Maston Cunningham," Blystone said
“It’s an honor to succeed Lynn Blystone whose leadership at Tri-Valley resulted in significant capital formation that enabled investments in a diverse base of petroleum and minerals assets during his tenure. I share Lynn’s vision and strong desire to maximize value for our loyal shareholders and investors by successfully exploiting these properties to their highest potential,” Cunningham remarked
“We owe Lynn our deepest appreciation and gratitude for his steadfast dedication and numerous contributions to Tri-Valley over the last 35 years. The Board has fully supported the management succession plan whose principal architect was Lynn Blystone. Lynn and Maston have worked closely during the last twelve months, and we anticipate a seamless transition in company leadership. The Board looks forward to continue working with Lynn as chairman of the board and with Maston as he builds on Lynn’s legacy to advance Tri-Valley’s growth while creating more added value for our shareholders and investors,” said G. Thomas Gamble, vice chairman of the board of directors
Tri-Valley Corporation, the publicly traded parent, operates through five subsidiaries: Tri-Valley Oil & Gas Co., Great Valley Production Services LLC, Great Valley Drilling Co. LLC, Select Resources Corporation and the currently dormant Tri-Valley Power Corporation. The Company explores for and produces oil and natural gas in California and has large gold exploration projects and a high grade calcium carbonate quarry in Alaska
Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the New York Stock Exchange AMEX under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com. This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2009, and the annual report on Form 10-K for the year ended December 31, 2008.
Congrats to you new mods ...
... that is hard work.
And a well deserved thank you to Steelers_Fan for all of your work over a lengthy and tumultuous period of time. Your moderation was always fair and unbiased.
Happy New Year everybody.
jonesie
NEOM was not listed on YAGI's page ...
... for as long as I was tracking things-Cornell/Yorkville.
I doubt they were ever added then removed. They just weren't there IMO.
jonesie
Michael Hanley didn't mention ...
... 2D barcodes as one of the top 10 trends.
I know, he mentioned 'mobile advertising', but has he heard of 2D barcodes? If he has, why doesn't he think it's going to be huge, at least garnering the #10 spot?
jonesie
That's 'meeting with Softie'?
I suppose Scoble's thrill at seeing the app pretty much went the way of Scott Shafer's thrill concerning NEOM. Down the tubes? Like Tobin Smith's?
Just a guess, and JMO.
The only reason anyone knows anything at all about NEOM and why YAGI has bothered to finance them and siphon money out of the otcbb is the Tobin Smith tout from way back which caused a ridiculous rise in PPS which allowed Chas Fritz and other touters to cash out.
Remember my web graphic showing Tobin touting other YAGI clients? Other YAGI clients which were connected to NEOM in other ways besides just Tobin? Just because time has passed doesn't mean the toxic roots of this tainted tree have gotten any healthier.
That doesn't mean 'they' won't be able to engender enough excitement for the occasional pop in pps, as has been shown numerous times already.
jonesie
Chas Fritz (ex-CEO of NEOM) told somebody that somebody met with 'Softie'.
Chas then proceeded to dump millions of free/cheap shares on the market and walked away with a tidy sum, all the while issuing meaningless PRs.
What exactly is the "this" that would be coming "to fruition"?
jonesie
That sounds nice, awfully nice ...
... although there is an awful lot of supposition included.
All of the 'will' words are purely opinion, and with NEOM being a YAGI client in penny-sub-penny-stock-land they may never ... ever ... get anywhere at all.
Allow me to paraphrase, what is in bold makes this a bit more realistic.
NeoMedia, with their patent position and licensing agent agreement with Neustar, has positioned itself where it might be able to be a mobile barcode infrastructure provider.
NeoMedia, in conjunction with Neustar and the mobile carriers in the US and in Europe might be in the process of creating a billing and transaction infrastructure built on top of NeoMedia's patent portfolio. We haven't seen much in the way of actual proof this is going on.
NeoMedia if successful might collect a transaction fee for every 1D UPC & 2D barcode that is registered through Neustar and then scanned and validated by ANY consumer's mobile device, using ANY kind of mobile code reading application, on ANY carrier's network ... WORLDWIDE.
Those companies who wish to participate in the mobile code ecosystem may or may not need to license and register their codes through Neustar, it remains to be seen if anyone will need to or will even if they don't need to. If they do not, they might be left out and will not receive a slice of the guaranteed revenue share unless they work around NEOM's patents to accomplish their needs in the realm of mobile advertising.
<snip>
From what I hear from industry heads, registered codes will be labeled "certified interoperable" letting consumers know that the barcode is authentic and safe to scan.
Labels on labels eh? That's a hoot.
Best,
jonesie
Downtrend channel
TIV PPS closer to -0- than it is to touching the upper band of the downtrend channel.
That has been a long long long way down over a time period in which the short interest has become a fraction of what it once was ... as has the PPS.
So much for short squeezes, rocket fuel or actual oil production bearing any resemblance to hyperbolic claims in borderline-illegal PRs protected by Safe Harbor b.s.
JMHO
jonesie
that important financing interview ...
... is very old. Very very old. If anyone goes by this old stuff they will generally be way behind the reality curve.
I'm glad to see that success agrees that 'old stuff' doesn't mean much.
Of course, where this interview you linked to is a year and a half old ... the 10Q referenced as being 'old' is, well, the most recent 10Q put out by the company and contains the only information the company says that they can be held accountable for saying.
jonesie
Thanks for the info from DOGGR.
I re-drew that downtrend line. Leaving out the 'outlier' of that overexuberant and irrational spike to $17 creates a different series of datapoints from which to construct the trend.
Which is decidedly down, and which TIV is no where near breaking to the upside.
Still ... those 2 trading days of over 6MM shares are interesting. Some major shares swapping hands then. I forget ... what was that about?
Updated Updated GOOD STUFF list - including the money. NEOM shareholders' money anyway.
01/07/2009
Laura Marriott Joins NeoMedia Board of Directors
PPS: 0.0018
02/18/2009
NeoMedia’s Barcode Lookup Patent Approved U.S. Patent No. 6,199,048 All ninety-five claims of this Barcode Lookup Patent have been confirmed as being patentable by the PTO.
PPS: 0.0079
03/31/2009
NeuStar Announces Global Bar Code Interoperability
PPS: 0.036
04/21/2009
Strong partners: NeoMedia Technologies and Arvato services reach 120 million consumers worldwide
PPS: 0.025
04/22/2009
NeoMedia Announces Licensing Program
PPS: 0.03
06/26/2009
Prinovis ‘Mobilizes’ with NeoMedia
PPS: 0.014
07/28/2009
NeoMedia Europe AG Launches Mobile Engagement Campaign with Hornbach Austria
PPS: 0.012
07/29/2009
U.S. Mobile Barcode Market Poised for Growth – NeoMedia Announces First Licensing Deal with Mobile Tag
PPS: 0.017
10/06/2009
Neustar and NeoMedia Speed Up Widespread Implementation of Mobile 2D Barcodes
PPS: 0.011
10/10/2009
Neustar licenses NeoMedia mobile barcodes for US
PPS: 0.011
10/13/2009
2D Barcodes Come to Latin America
PPS: 0.013
10/20/2009
NeoMedia and Scanbuy Reach Settlement and License Agreement
PPS: 0.024
10/22/2009
NeoMedia and Neustar Move One Step Closer to 2D Mobile Barcodes Everywhere
PPS: 0.017
10/27/2009
NeoMedia Europe Further Strengthens Mobile Barcode Adoption in Austria
PPS: 0.020
12/01/2009
NeoMedia Barcode Scanning Application to Be Pre-Loaded on Sony Ericsson Mobile Phones
PPS: 0.013
Hey, anybody lucky enough / informed enough / connected enough to have bought in at .0018 is up 8X since the first of the year. Unless they were smart enough to sell at .03x ;) Perhaps Iain will point that out to shareholders ... if he ever has another CC or better yet ... a legally required shareholders' meeting. Hey Ryan, did you ever find the office?
jonesie
TIV has been pretty boring since it broke support in ...
... the $5-6 range quite a while back. Time flies, was that really a year and a half ago?
I didn't see any recent news, what caused the little bounce up over $2? Any good production stats on the DOGGR site? I may have to look if there's ever any time. Maybe after the holidays.
Think TIV might make a run at breaking this LONG term downtrend?
Recent volume spikes make it a little more interesting?
jonesie
Ryan, did you ever find NEOM's office?
12/10 was the date ...
... that something was supposed to happen, some news, something about Iain's contract renewal, something big which might not have to be 8-K'd until 4 days later, it was a date talked about for several weeks I think and was said to be an important date, maybe a big fish buyout day, maybe anything, and a lot of people were waiting on it.
But if nothing happened with regards to NEOM on the 10th, it was no big deal either.
Same ol' same ol'.
Ryan , re: NEOM HQ
Welcome to Atlanta!
Not sure why there would be a problem finding it. Their address is all you need to know.
Two Concourse Parkway Suite 500 Atlanta, GA 30328
Two Concourse Parkway is a specific building. Try the 5th floor. You don't need a guard, at least I didn't, I just got on the elevator. (Is it different on Sunday's?) NeoMedia's office is nearly across from the elevator door as I recall.
I went there and talked to Chip and Frank Pazera quite a while back, see:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=26422921
for pics of the area and the atrium in their building.
As to sharing with 'pretty good companies', never forget ... Chip Hoffman went to lengths to stress more than once in our conversation ... about how it is only a 3 1/2 minute drive from what was his conference room to AT&T's.
LOL
jonesie
Personalizit, re: Greenshift
I thought I had seen the names Greenshift and Kreisler before. Kreisler and YAGI/Cornell go way back.
Since the ON TOPIC thread brought up here is about the possible success of the YAGI client Greenshift in getting out from under YAGI and how that might give hope for success for NEOM shareholders, it might be good to understand more about another one of these YAGI-webs involving multiple otcbb companies, same personnel, and vast erosion of shareholder value over the years due to YAGI dilution.
I have not updated these items culled from my tables on the Yorkville/Cornell board, most recent dates can be seen at the end of the chart. Someone might look into these and find vast improvements since the last updates. Share prices may be much higher now, and possibly without even more reverse splits in addition to the reverse splits already involved.
Just fyi.
jonesie
I'm not sure what your post has to do with ...
... my specific comments on Sony Ericsson's possible Due Diligence re: preloading NeoReader on some handsets?
g'nite
jonesie
"Sony Ericcson wouldn't enter into a deal with NEOM without some form of due diligence"
Sony's possible due diligence:
Is the NeoReader a stand alone application that can work whether or not NEOM is around?
Yes
Does the NeoReader read 2d barcodes and take the user to a website via the direct method?
Yes
Does the NeoReader read 1d barcodes with the right optics and the correct parameters?
It can.
What if NEOM isn't around, or what if the technology is around but NEOM's shareholders get wiped out by YAGI?
Whoever owns the patents can continue to run any backend clearinghouse operations via Neustar or other, if such is needed. We don't worry about shareholder issues.
In a worst case scenario, can our customers download a different application to read barcodes?
Yes
--- I may not be entirely correct, but that's a possible scenario re: some form of SE's due diligence.
JMHO
jonesie
THE CORNELL CONNECTION
Connecting the Companies
by CHRIS CAREY
Two more companies that recently announced technology deals with UTEK Corp. have been identified as vehicles for securities fraud, this time in a federal criminal case in New Jersey.
The case involves a stock manipulation scheme that began in the 1990s and cost investors more than $15 million. Eight defendants have pleaded guilty and a ninth was found guilty by a jury.
A plea agreement signed by one of the defendants says that prosecutors would not initiate further charges regarding his admitted participation in securities and wire frauds involving the shares of some 30 additional companies.
The companies include Avalon Oil and Gas Inc., which last month completed its third technology transfer with UTEK, and ChampionLyte Holdings Inc., now called Cargo Connection Logistics Holdings Inc. It did a technology deal with UTEK in December.
The court filing did not allege any wrongdoing by Avalon (OTCBB: AOGN) or Cargo Connection (OTCBB: CRGO).
But Sharesleuth.com found the document in the course of its own investigation into Avalon, Cargo Connection and other companies with ties to a common network of executives, directors, consultants and promoters.
A closer look at that network revealed at least three people who did prison time in connection with previous fraud schemes and three others who either settled civil fraud charges with the Securities and Exchange Commission or were found guilty by a jury.
The network also included several more people who previously were suspended or barred by the National Association of Securities Dealers for violating brokerage industry rules.
Companies linked to the network have done numerous deals with Cornell Capital Partners LP, one of the top hedge funds providing PIPE (Private Investment in Public Equity) financing to penny stock companies.
Read more at:
http://sharesleuth.com/2007/05/29/connecting_the_companies/
YORKVILLE ADVISORS SUED in 5 Count Complaint ...
... from article date November 2009: From April 2007 to July 2007, Cobalis Corp.’s share price went from approximately $1.20 per share to 10 cents per share, significantly impacting the ability of Cobalis to launch PreHistin to worldwide markets as a nutraceutical allergy relief alternative to antihistamines or to secure funding for another Phase III FDA clinical trial. The resulting drop in Cobalis share price amounted to a loss of approximately $60 million in shareholder equity.
On Aug. 1, 2007, less than seven months after execution of the PIPE transaction, YAGI involuntarily filed to convert Cobalis to Chapter 7 liquidation. It has been alleged that this was done ahead of the allowable cure periods for the alleged default to prevent Cobalis from honoring its obligations pursuant to the PIPE transaction.
In the lawsuit, Cobalis asserts claims for two counts of breach of contract and allegations of “equitable fraud,” breach of contract and accumulating greater than 4.99 percent of Cobalis shares at one time, securities fraud for violation of SEC Rule 10-b-5 relating to short selling without proper representation and equitable fraud and breach of fiduciary obligations by YAGI in collecting $415,000 in fees paid by Cobalis for execution of this PIPE transaction.
More at:
http://law.lexisnexis.com/practiceareas/New-Lawsuit-Filings/LitigationResourceCenter/Cobalis-Corp-Confirms-Filing-Of-5-Count-Lawsuit-Against-Yorkville-AdvisorsYA-Global-Investments
Your link re: Yorkville ...
(NEOM's financier) went 'incomplete' in your post:
http://law.lexisnexis.com/practiceareas/...
Is NEOM's financier 'in trouble'?
Here is the complete link:
http://law.lexisnexis.com/practiceareas/New-Lawsuit-Filings/LitigationResourceCenter/Cobalis-Corp-Confirms-Filing-Of-5-Count-Lawsuit-Against-Yorkville-AdvisorsYA-Global-Investments
jonesie
Yorkville Possible Subject of SEC Investigation
http://the-cold-truth.blogspot.com/2009/11/yorkville-possible-subject-of-sec.html
[reposted from NEOM board, thanks huppo and jcg0176]
Yorkville Advisors, LLC- which has operated a PIPE (Private Investment in Public Equity) fund since 2001 -may be in hot water with the Securities and Exchange Commission. Sources indicate that the SEC may have already or is about to launch a formal investigation of this fund and its managers. Our sources confirm the commission has been contacted by several concerned Yorkville investors, though SEC representatives have not made any comment regarding the inquiry.
Clients may have been prompted to go to the SEC by what some could consider questionable investments, in addition to the onerous fees collected by Yorkville (YA Global Investments). Yorkville deal documents and their audit show the following:
* Yorkville and its funds take fees on all sides of their transactions- including structuring.
* They take their management fee as well as a healthy portion of the profits from their funds and then write-off all their costs against these fees. In simple terms – it would appear they have no costs of their own.
* 'Double Dipping' - Investors being charged twice.
Sources close to the SEC allege that Mark A. Angelo and Matthew Beckman – key people at Yorkville's PIPE fund– may soon be hit with inquires. Yorkville also operates under the name YA Global Investments. It is a complex structure many theorize is utilized to circumvent taxes, among other reasons. It is possible that there may be some irregularities on a deal announced October 19, 2009 with Finnish drug developer Biotie Therapies Oyj (HEL: BTH1V)
What is wrong here? The deal is as follows:
Oct 23, 2009 (M2 EQUITYBITES via COMTEX) -- 23 October 2009 - Finnish drug developer Biotie Therapies Oyj (HEL: BTH1V) said today the fund YA Global Master SPV Ltd committed to subscribe and pay up to EUR20m for ordinary no-par Biotie shares in the next 36 months, under a stand-by equity distribution agreement. The deal aims to secure the financing of Biotie's working capital in the short and medium-term. YA Global is entitled to a one-time commitment fee of EUR200,000 in shares and has already received customary structuring and due diligence fees. At any time during the 36 months Biotie may request YA Global to purchase shares. The maximum portion of the commitment amount to be used at a time is EUR50,000 for the first tranche, EUR100,000 for the second tranche and EUR300,000 for the subsequent tranches. The pricing of the shares will be determined as 95% of the lowest daily volume-weighted average price of the five days after the date on which Biotie shall have sent YA Global a notice to buy shares, but will be at least 85% of the volume-weighted average price of Biotie shares on OMX Nordic Exchange in Helsinki on the last trading day preceding the notice.
Maple Energy could be another target of the eagle eyes at the SEC as some believe that Yorkville Advisors artificially inflated the funds value with the goal of tidying up its balance sheet so its PIPE fund looked stronger to attract new investors.
November 05 2005- Maple Energy secures $30m funding facility for new opportunities
Peru-based oil and gas group Maple Energy has secured a US$30 million financing facility with American investment group Yorkville Advisors, which manages YA Global Master SPV Ltd.
As is usual with Yorkville – which funds numerous small cap natural resources companies – the package has been structured as a standby equity distribution agreement (SEDA). This means that Yorkville has agreed to subscribe for up to US$30 million of Maple’s shares as and when the company needs the cash over the next 30 months. Maple will use the proceeds from the SEDA as a means of raising additional working capital, including for its Ethanol Project, and for general corporate purposes.
Rex Canon, Maple’s chief executive, said the facility gave Maple certainty and flexibility of funding. “The capital can be accessed quickly and at attractive pricing enabling Maple to respond to new opportunities and funding requirements as and when they appear,” he said.
In addition some industry experts are speculating that the SEC may be looking at cases of possible manipulation by Yorkville in SEDAs or Standby Equity Distribution Agreements.
Also at issue is- Richard Y. Roberts - his activities believed to include influence peddling, on behalf of Yorkville, behind closed doors. Roberts served as a Commissioner of the U.S. Securities and Exchange Commission (SEC) 1990-1995. In addition to his service at the SEC, from 2002 to 2004 Mr. Roberts served as a member of the District 10 Regional Consultative Committee of the National Association of Securities Dealers, Inc., and from 1999 to 2001, he served as a member of the Market Regulation Advisory Board of the NASD and from 1996 to 1998 he served as a member of the Legal Advisory Board of the NASD. Currently Mr. Roberts is a partner at Roberts, Raheb and Gradler, a regulatory and legislative consulting firm he co-founded in March 2006, where he provides legal, consulting and advisory services to clients on issues relating to financial institution regulation and legislation. He is closely linked to Yorkville.
Lastly, on the Yorkville table at the may be a question of special inside knowledge utilized in the following deals:
www.secform4.com/insider-trading/1271849.htm
5 STAR POST HUPPO ...
... and no, I don't think it was posted previously, the 'excellent DD' that goes on here managed to miss it - even though some have professed in the past to be quite close to the folks at Yorkville and knowledgeable regarding their activities and intentions.
HERE IS AN ON TOPIC EXAMPLE, INCLUDING NEOM AND ITS PAST MANAGEMENT, OF THE WEBS YORKVILLE BUILDS INCORPORATING WILLING COMPANIES' MANAGEMENT INTO EFFORTS WHICH SELDOM DO ANYTHING BUT SIPHON MONEY FROM THE POCKETS OF OTCBB/PINKY INVESTORS, ENRICH MANAGEMENT & FRIENDS & YORKVILLE, AND AFFORD OCCASIONAL PROFITS TO ASTUTE/QUICK TRADERS, SOME OF WHOM HAVE ACCESS TO INSIDE INFORMATION.
IHUB DEEMS THIS INFORMATION TO BE RELEVANT AS THEY HAVE REINSTATED POSTS WHICH INCORPORATED IT.
From that link, vero ...
ON TOPIC IN THE CURRENT THREAD DISCUSSING NEOM'S FINANCIER YORKVILLE + THE SEC'S POSSIBLE INVESTIGATION OF YORKVILLE + NEOM'S FINANCIER HIRING EX-SEC PEOPLE POSSIBLY TO AVOID INVESTIGATIONS AND/OR CONVICTIONS
"Re: If you want to beat the SEC in an enforcement case, just go out and buy one of them.
My huntch(sic) is that Knight is working hand in hand with Cornell and together they operate some underground boiler room spamming message boards such as Ihub and RB.
By motzu on 6/13/2006 2:56 AM "
What happened to the 'what we think' part?
Number of institutional holders down
Major Holders:
% of Shares Held by All Insider and 5% Owners: 9%
% of Shares Held by Institutional & Mutual Fund Owners: 5%
% of Float Held by Institutional & Mutual Fund Owners: 5%
Number of Institutions Holding Shares: 28