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Sunday, April 09, 2006 11:10:14 PM
Reverse Splits was one question someone brought up. I will take a stab at this - someone else may need to help me here.
To the best of my knowledge Reverse Splits are generally always stated in the State "Articles of Incorporation" and By Laws.
Gang - I believe this is a State "thing", not an SEC "thing".
Although NEOM's position on this issue may have been stated in 8-K, 10-Q, or 10-K, I do not remember seeing it, and it is not required to be stated in these documents, unless NEOM wants it there.
In the days when I used to do "real investigation and audit work", I am not certain that I ever tried to pull up a corporations "Articles of Incorporation", from the Secretary of State's web site, as I generally always requested it from the corporation, and the officers never had any problems providing it.
I bet, if we work together here, we may be able to get some infromation. NEOMs development facilities are in Fla., Micro Paint is in Navada, NeoMedia Migration, Inc., in Deleware. Take a look at Form 10-KSB - the list goes on and on. Now, let me give you the page # - 2, of the 10KSB, or this might show up as page 4 of 126, if you use print view
I believe ICgreen, was interested in this issue. IC, do you want to help, by reviewing the 10-KSB to determine if there is anything written there about Reverse Splits (although it is not required to be in the SEC 10K, it may still be there).
We can, of course, just send an email, as Zacked did, and ask NEOM, officers to tell us, what NEOM's State Charter - Articles of Incorporation specifically states about Reverse Splits.
If others are worried about Reverse Splits, and this is not stated in any of the documents we have, I see no reason why this issue should not be "hashed out" here, investigated and laid to rest. ICgreen and Zacked should not have to wait 2 months for the shareholder's meeting and neither should anyone else.
As you know, Reverse Splits can "cash out" a small shareholder, if NEOM tries to reduce the number of shares and increase the price of the stock.
There are "no dumb questions" here. If we need to know - we need to know and one of "our own" needs to know the answer to this question.
So I am saying, lets go to work and get this question resolved.
Those who need to know, need help, lets find a way to help.
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