NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

And all the while they told us things like ...

... George O'Leary is a turn-around expert who would make things better , and they paid him. Significantly.

All except for one , the charts of the companies he 'turned around' are nightmares. The one over in England has been pummeled since he became CEO. He did a 1:1000 R/S to stay listed (needed over $1) but I don't think that's working out too well at the moment.

What nails management of companies who go this route (pumping, not delivering, cashing out) are details like this small portion of something you posted the other day:

"1) NeoMedia contracted with five large Chinese insurance companies to adapt qode® to enable millions of policy holders in China to use their cell phones to link directly to their insurance company's Mobile Internet site

2)During January 2007, NeoMedia signed a performance-based agency agreement with NexMobil LLC, pursuant to which NexMobil will sell qode® products and services in the Middle East, India, Korea, and Pakistan."

And remember the specific references to a deal they had with someone where NEOM would receive ".05 per click" and each transaction would most likely require "4 clicks"? I can't recall exactly but I believe it was inferred that there would be many many transactions like that.

As you may recall , it's possible for certain questions to be posed later about statements like this and if the answers aren't the 'right' ones ... oops:

-- Did they actually do these things?

-- What happened?

-- Did the parties they had agreements , contracts , LOI's , MOU's etc with ever actually intend to do anything productive?

-- Did those parties actually have the ability to do what was stated was going to be done?

Eventually it all comes out in the wash.

jonesie

p.s. I believe it was in part something as simple as the transparent inability of a 'contractual partner' to actually pay anything NEAR the sales numbers which were touted in a 'contract' .... and this inability or lack of real intent is what nailed the mgmnt of another company you and I were both involved with in years past.