NeoMedia Technologies, Inc (NEOM)

[ASTOCKCOLLAPSE N0W]

Here are my notes.

I stopped midway thru the questions as they became redundant and it was clear that Fritz, OLeary and Dodge were not going to say much of anything.

--Fritz

Core business: focusing in on core qode and gavitec platform.
Key item: MC2 initiative.
"happy with the progress of the group"

CEO search: Signed agreement with Heidrich and Struggles(sp?).
Goal: new CEO in place by "July sometime"

Process of rebranding qode platform into complete suite of tools.
Market interest in end-to-end solutions.
"Turn the phone into a wallet".

Hired Mr. Jay Bosh(sp?).

Identified nine market segments where we are taking strong initiatives in.
Already have clients helping enabling markets - a lot of clients based in Europe.

Seeing a lot of activity spurred across Europe, Asia and Latin America.

Intellectual Property: Re-hired Rob Durst. Pursuing creating IP for Neomedia as well as pursuing licensing programs around the world.

EFF: In the process of going through those steps with the patent office in the US.

Gavitec: fully integrated into qode offering.

--O'Leary

Final acquisition of Gavitec.
Micropaint expected to sell within 60 days.
Triton - moving along according to plan. Confident company will be sold in 90 days. Triton not expected not to require additional funding.

Searching for investment of 10 million or more.

Consulting agreement with Thornhill. Eliminating 50% of corporate burn rate.

-- Dodge:

$1.9 million cashed used in quarter.


-- Q&A:

How do you intend to get our financial house in order?

Cornell has always been a big supporter of NEOM. Working on strategic investment. Involves our financial structure as a whole.

What is our staff head count and monthly burn rate?

30 employees in core. 20 in non-core sub. $500K-$700 per month.

Position on the BOD of automart does not interfere with position at NEOMEDIA. Chinese market is a risky proposition with anybody. In a way that benefits shareholders, benefits us (regarding payment from Automart).

Total of direct sales of 7 people who are out under our control. Indirectly number of agents and/or comarketing agreements leveraging that direct sales force. I do not have that direct number off my head - a good dozen to 15 indirect sales agents across the world. Goal not to ramp up a direct sales force.

Operation run rate roughly the same as the 1st quarter of last year. Certain base operation run rate that every public company must have to maintain its public status. We are at that core operating rate. Working on strategic investment that we will then strategically invest that cash.
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I'd say they followed my hypothetical rather closely.

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