NeoMedia Technologies, Inc (NEOM)

[ss9173]

Although it is nice to get this press release, it doesn't really infer that 12snap's revenues are growing...just that they are "similar".

For reference, 12snap had revenues of $6.2 million during the first half of 2006. (See my post: http://www.investorshub.com/boards/read_msg.asp?Message_id=12562108&txt2find=12snap ).

This was up by 79% from the prior 6 month period. From today's PR, we now know that European-based telephone carriers and cell phone manufacturers accounted for $1.3MM (or 21%) of the $6.2MM total.

Neomedia needs to portray itself as a high growth company, and unfortunately today's PR doesn't give us that impression. When it came down to hard numbers, the PR stated: 12snap was on track to generate a similar revenue total in the second half of the calendar year from the mobile carriers and handset manufacturers, in addition to its other business serving other companies.

The closest it got to inferring revenues were increasing was this relatively weak statement: "While NeoMedia and our subsidiary companies are growing in breadth and volume of services, as well as in producing revenues, we are simply not allowed by these contracts to provide more information.

Most of us already knew that they couldn't release more information on mobile carriers and handset manufacturers for contractual reasons.

So again, while I appreciate the PR, I just believe it was not written as well as it could have been.

Personally, I would have preferred that they would have given an indication that 2nd half 2006 revenues for 12snap are anticipated to be up XX% - a number like 79% as reported in the prior 10Q would have had much more impact!

JMHO.

ss9173