NeoMedia Technologies, Inc (NEOM)

[bleedingedge]

BC - how did you calculate $715k = 3 mos. cash burn? After NEOM's cost cutting moves at the end of March, in their own words (10K and con call) they admitted that the $1.1 mm (April and May tranches) was only scheduled to fund operations through May 31st. It may have lasted a little bit longer, but not much (June 5th). Additionally, we have to see how much of the $715k NEOM actually received. We know that $50k went right back to YA for the "monitoring fee", bringing the net proceeds down to $665k. Historically, YA had taken another cut from the proceeds; I have not seen that documented yet.

BTW - this "drip financing" does not instill confidence in the ecosystem/marketplace that NEOM is in for the long haul. the sustinence-level financing doesn't allow NEOM to make the much needed investments in growing the business. IMO, they need $10mm - $20mm in the bank to convince that world that they are in the game for the long haul.