Monday, March 09, 2009 7:09:18 AM
I was not miscontruing anything at all and you should stop saying that I am. Quoting what's in the filings is not miscontruing, and the words in the filings are not "jargon" as you say, they are not boilerplate, they are specific to NEOM's situation. If you would like to intelligently debate this further please feel free to do so.
The posts you copied to lesnshawn have some fact in them, but they also have a lot of "ifs" and "assuming"s and hopes in them. And with all due respect clawmann, this in one of the posts JP quoted is simply not the way YA has actually gone through this process with other of their clients:
"Look, YA holds a security interest in the patents. Those patents secure the DEBT owed by Neom to YA (not the warrants or the conversion rights), the DEBT. If YA foreclosed on its security it could not just keep the patents. YA would be required by law to sell them in a manner that could be defended as being reasonably intended to maximize the sale price. Out of the proceeds, they satisfy the DEBT. The rest goes back to Neom.
So how much is the amount of the DEBT?
Think about it. Right now YA makes a lot more if Neom succeeds:
Stock obtained from the exercise of warrants and conversion rights PLUS debt re-payment."
I'll be glad to discuss this further, later, I have a busy day ahead of me. Or if you would like to agree that there are two differing opinions on this subject and several possible outcomes other than the best ones for shareholders which we all hope will prevail, as opposed to simply attacking my opinion which is almost always backed with facts ... feel free to do so.
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
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