Thursday, August 31, 2006 10:46:49 AM
NMPR is not generating the cash to fund the Neomedia Mobile business unit as
originally planned. While I was impressed with their operation and people in
Ft. Myers during the SHM, the bottom line is it is taking too long for this
business unit to generate positive cash flow. I have no doubt that this will
eventually be a profitable business unit, but I am concerned that the reason
Neom invested in NMPR is not materializing as fast as it should. And, I have
always been concerned that it distracts or dilutes Management's focus from
the Mobile Marketing core competency.
As I view Neom's liquidity issues at a crisis stage, perhaps Neomedia should
quickly sell NMPR to DuPont or PPG to raise cash that could fund the
acquisitions.
IMO, Neom should be working fast to strike a deal with a News Corp,
Microsoft, Nokia or P&G type company to get some significant cash infused
into the business...even if it means giving up some control of running the
business.
Perhaps this correspondence and other similar communications from other shareholders prompted today's action.
I would anticipate an additional PR and associated 8K's to be filed within the next 2 weeks to detail the restructuring for financing of the acquisitions.
SS9173
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