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Market Cap $500k? I guess that is the value being placed on the company. Wow.
What happens to less than 100 shares in an account? If I have 500090... how is the fraction handled in the reverse split?
No updates from the meeting?
Personalizit, thanks for the spelling correction... I banged it out too quick... I hate spelling errors.
How I voted and the current reality:
NEOM doesn't have substancial revenues yet. Companies that do reverse splits before they have substancial revenue are generally doing it out of some desperation.
NEOM needs funding, they can't get funding any other way but Yorkville. Yorkville can't fund us with the stock price hovering below a penny. Therefore, neom has no choice but to do the reverse split and increase outstanding share count to continue to get their money. This is the reality of were we are now.
However, the company is well positioned to take advantage of the current market trend and acceptance of this technology and may eventually profit significantly. However, that doesn't change our current reality and our need for cash.
With all that being said, I do not support the current initiatives of the board regarding this funding process with YA and just voted 'against' all the proposals.
I hope we see substancial revenues very soon.
Redbeared..Just saw your post... I feel your pain. The good news is that my account is in much better shape than it was two weeks ago.
Not green until 0.25...last averaged down at 0.09 and ran out of dry powder... good to see this up, but got a ways to go.
Shareholder meeting cancelled? I didnt' realize that had happened. Why did they cancel it?
Exactly. I have basically lost it all, so let's take this operation down before they get someone else. Keep me in the loop on any legal action... enough is enough.
The person who bought 20 million at 0.003 the other day.
JP, I agree. I'm curious as to your hopes and thoughts as well as others on a realistic stock price reaction to such an announcement. If we see the PTO uphold the patents and a carrier license, I say we move to a 0.02 -0.05 range. After the dust settles and we get another 10Q to see what that really means from a revenue standpoint, we will then see if we go up or down from there. Kinda sad that I am looking at that price range for an announcement of such magnitude. Back in the days before dilution we would have had a multiplier of 100 on that. Thoughts?
Why so much premium for the September 40 puts? Over $1? Am I reading this correctly?
I have lost track of the years... I can't even remember when I bought into this... seems like 2004. I want to believe that the system would not allow a company like YA to orchestrate this for this long, that noone is smart enought to work the system this well. But as the years go by, they are either really smart, or it was just supposed to happen this way and YA is just part of this big ride like we are. Only, they are making money.
I think they have figured out that these subpenny plays give them more % gains when they pop as long as they can generate enough interest. They almost have this down to a science. Can I by stock in YA?
10Q is out. eom
I was being a little rhetorical... maybe this was all a requirement of a potential buyer of neomedia. If you were buying the company, you may want it to have a least a year of funding secured for the business plan. That's all I was saying.
So Jonsie, they had to secure a years worth of financing as part of the arrangment for a buyer to buy us out?
No Drmyke, standard forward looking statement legal ease.
The year NEOM stock will start to move up into the penny range.
The amazing part is that it is legal. If the average person tried to do this, we would go to jail.
JP,
Have you heard from anyone as to why they have cancelled having the conference calls? Are we going to have a shareholder meeting? I haven't emailed anyone myself to ask. Thought I would ask here first.
Edster
Anything new on the Scanbuy lawsuit/patent reexam?eom
Exactly. They will turn out the lights when they can no longer get money for the shares they are printing. Let's just hope that they have some positive events long before then that turn this into a real company. The potential is there... although is seems very distant at this point.
Because at this point the money has been lost and I now basically own a bunch of options that don't have an expiration date.
Good Point. Does that have to be filed with the SEC when it happens?
Very disturbing. Makes you really wonder what is going on at this company.
According to that, it's time to buy and day trade this puppy to make back some of my losses.
Yellowjacket: My take is that if they don't give them the money, NEOM will not be able to keep the lights on any longer for Cornell to continue to sell shares. They can make that back if they can keep the lights on a few more months and then some. They will continue to do this to reduce their exposure. The alternative is they lose out on all the other money they have loaned unless they keep us alive so they can keep selling shares. Once Cornell has gotten most back and reduced their exposure to an exceptable point, they will cease to do business with us, unless they can continue to get someone to pump the stock periodically, but this is getting harder and harder to do. We are getting close to lights out. What a shame... better pray for a miracle. At this point, I am beginning to think that their won't be a CC or Shareholder meeting. This is my biggest investment mistake ever... and hopefully I will never do something like this again.
Thank you Jonsie. I have felt better since I quit watching this thing everyday. Makes me sick when I look at the money I've lost, so I quit looking at it.
Are we closing in on two years without a shareholder meeting or did I miss it? I haven't been following as close as I used to follow.
Personalizit: Obvously, I was joking and I have many shares that I purchased at much higher prices many moons ago. Just trying to lighten the mood a little. :)
The downside risk is only 0.0075 with unlimited up potential. When was the last time you could find an investment with such little downside? Well, maybe MOBL is better, but not by much. :)
Is NEOM trading today? Not seeing any volume.
Very Bold predictions JP. I hope you are correct.
Now, if we could just end this pain and get rid of the paint business before year end. I say we hold an auction here for the paint business. Highest bidder gets a paint business that loses money and shares of a PWC player that continually go down. Surely someone needs a good tax write-off. I'll start the bidding at $1.
Crap, now you tell me.
Gavitec is what is going to make this company great, if anything does. I like to think we paid a lot of money for Gavitec and didn't purchase any of the other companies that we gave back. It makes it mentally less painful. The more we put Gavitec in control, the better off NEOM will be.
Clearly the power with this company lies with the 'single' source of funding and voting power. Both of which Cornell has. Chas Fritz leaving was obviously controlled and approved either directly or indirectly by this entity. All other theories may have some bearing on this reality, but the ultimate direction and approval of that direction comes from Cornell.
Cornell will not take this company in Bankruptcy anytime soon. They have too much invested and stand to make plenty more from directing the company. They have made tons from this company and stand to make much more keeping it alive. They will try to give it a chance to be successful, but in the end they make their money either way.
I think most agree with these comments. If you don't, what would you do if you were the single source of funding for a company that you had a substancial amount of money invested and had a major voting position. I think you would remove Chas and try to push things in the right direction, at least till you got your money out of the company.
So we wait to see what happens and when... knowing Cornell controls all... for now.
We do have some options that can change the scene. Band together, combine shares and buy more to hold a major voting block. Do that, sell or do as Streetstyz and in4it(you guys do and amazing job) do and promote the hound out of this thing and hope it helps.
Edster
With the downward spiral that this stock has done, I would be very surprised if a couple upset shareholders didn't make this interesting. I look forward to any feedback from those that attend.
I have shares and voted against management.