Saturday, March 21, 2009 2:45:46 PM
I'm going to keep repeating this until it happens:
If IP licensing takes off this year and next, the $50MM+ owed to YA is chump change--period. NEOM could (and should) redeem the remaining Series C shares, plus coupon...AND pay off the Debentures as they come due (or maybe even prepay some or all Debentures at a premium).
Assuming the foregoing, YA would still hold 1.4 B warrants to purchase 1.4 B common shares on the cheap from 2¢ to 7.5¢. YA would still effectively control half the company based on exercising those 1.4 B warrants--you see...1.35 B share current O/S plus 1.4 B comon shares from YA's warrant exercise--would leave a total of 2.8 B common O/S (out of the 5 B A/S). Or, of course YA could just sell their warrant position to another entity if they wanted to.
Following the scenario above would go a long way toward keeping us (retail shareholders) very happy IMO and would very likely keep YA out of our 'litigation' sights (or the SEC's).
YA, are you listening? (I'll bet you are.)
Respectfully, YJ.
P.S. Thanks for your support...I really mean that.
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