NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

"Anyone know the lowest warrant exercise price for sure?"

I don't , perhaps someone else does , don't they get continually re-priced downwards with each new financing? Or perhaps I'm exaggerating that , maybe it hasn't happened every time.

In taking a quick look for the answer to your question , I did find something interesting which I don't believe I have seen before , or perhaps I just never noticed it before.

The below is quoted from the most recent 10-Q in which is found that table showing all the shares YA's various instruments could be converted into as of 6/30 , when the share price was .003.

(The easiest way to see this table is to go to the 10-Q and go down to Page 16 and view the Table prefaced with "The following table reflects the number of common shares into which the convertible instruments and warrants are convertible or exercisable at June 30, 2008:"

That's the "23 Billion shares" table btw.

http://www.sec.gov/Archives/edgar/data/1022701/000114420408047380/v123671_10q.htm

Check out the bolded section:

The terms of the embedded conversion features in the convertible instruments presented above provide for variable conversion rates that are indexed to our trading common stock price. As a result, the number of indexed shares is subject to continuous fluctuation. For presentation purposes, the number of shares of common stock into which the embedded conversion feature in the Series C convertible stock was convertible as of June 30, 2008 was calculated as the face value plus assumed dividends (if declared), divided by 97% of the lowest closing bid price for the 30 trading days preceding June 30, 2008. The number of shares of common stock into which the embedded conversion feature in the convertible debentures was convertible as of June 30, 2008 was calculated as the face value of each instrument divided by the lower of $0.01 or 50% of the average closing market price of our common stock for the 10 days prior to June 30, 2008.

Wow , 50% discount to a 10-day VWAP? Is that for real? Is that how they started off? If not , what triggers / triggered that? Some default or other? Am I reading that wrong?

jonesie


Yorkville / Cornell Tracking Board #board-9964


"I can think of no more valuable commodity than information"