NeoMedia Technologies, Inc (NEOM)

[ASTOCKCOLLAPSE N0W]

I'm concerned about the fact that ..

R&D costs only account for 14% of aggregate operating costs after discounting for impairment charges.

Sales & market account for 39% and general & administrative account for 47% of total operating costs.

Let's order the list:

G&A: 47%
S&M: 39%
R&D: 14%

That's indicative of bureaucratic bloat and not of a flexible, dynamic high tech company (of which defines the space NEOM purports to compete within).

A company like NEOM should look like:

R&D: 40%
S&M: 40%
G&A: 20%

The fact that the order is opposite of most competitive high tech companies is evident of poor executive leadership.

At NEOM, the top of the pyramid is not interested in introducing a cutting edge product to the market, they're interested in paying themselves for being the officers of a publically traded stock.

In an effort of good faith to shareholders, all NEOM officers should forfeit their annual salary and bonuses for one year otherwise they are simply pigs at trough.