NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

"As of June 30, 2008, we had $75,000 in cash and cash equivalents as noted on our consolidated balance sheet and statement of cash flows. This is a decrease of $1.3 million or 95% compared with a total of $1.4 million as of December 31, 2007."

Wow, that's cutting it close. That really was a payday loan they got in early July. The money they got on May 30 went fast. "On May 30, 2008, NeoMedia Technologies, Inc., a Delaware corporation (the "Company") issued and sold a secured convertible debenture (the "Debenture") to YA Global Investments, L.P. (the "Investor") in the principal amount of Seven Hundred Ninety Thousand Dollars ($790,000)."

"On a comparative basis, cash used by operating activities of continuing operations decreased $2.1 million to $3.2 million for the six months ended June 30, 2008 compared with $5.3 million of cash used by operating activities for the period ended June 30, 2007. The decrease in cash used by continuing operations is primarily due to reduced audit and legal fees and lower personnel cost due to a reduced headcount."

Interesting. So much for hiring willy-nilly, or at breakneck speed ... or at all?

jonesie