Wednesday, September 03, 2008 7:38:45 AM
Under the SEDA deals, Neom mangaement had control over the decision to "put" shares to YA/Cornell. Under the convertible preferred YA/Cornell has control over the decision to call for shares from Neom.
What a horrible price we have paid (literally) for the events and decisions of early 2006.
As BE indicated in some of his recent posts, the then-managers at Neom were so blinded by their supercompany vision that they just did not pay attention to the fine print or consider the possible negative consequnces of their actions.
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