JCG: I think I have missed some previous post on your thoughts so I am not sure your opinion here. Obviously, they both exchanged patents in a cross-licensing deal which is what I suggested. What patents were cross-licensed, sold, or "given away" we don't know. What are the exchange in fees and assets involved, we don't know. We may know more next February. Given NeoMedia had a larger US portfolio, it would be perfectly reasonable for NEOM to hold back some patents. What doesn't make sense is what else they could do with these loose ends.
The downside is NEOM needs PR to grow share price. With no US sales and marketing, that will be tough as Scanbuy, Mobile Tag, and Neustar are now the remaining licensees of NeoMedia's US technology. BEMS appears to have taken the IP available in the Central and South American. Iain said the EU licensing is on hold until those patent re-exams are complete. That leaves PR financials or some regional announcement which are out of those continents. It will be interesting to watch, but is certainly making my investment look longer-term.
I hope we see some revenue from Mobile Tag in the next 10Q, but we should certainly get an idea what this all worth in the 10K. Investors are going to be looking for some fireworks on the revenue line.
What didn't make sense to me was why the revenue and asset terms were classified as confidential. Scanbuy is a private company so their investors will know the terms. NeoMedia will not be offering licenses in the US so it would not have an affect on their ability to negotiate a license. If the fees were high, it would be to Scanbuy's advantage for their clients to know the basis increase. I see no compelling reason to keep this settlement from public scrutiny. We may still see it yet.
I am also not getting any answers in the marketplace on how this deal is going to function. I guess it is still too soon. Are they using the NeoMedia/Neustar alliance? The Neustar agreement did not make Neustar the exclusive processor for NeoMedia IP so there is still the option that Scanbuy will continue to build its infrastructure - I hope this is not the case. I had assumed a settlement would lead to increased interoperability in the US by combining registry and clearinghouse services. It had not occurred to me the settlement agreement would leave this to competitive forces.
So, I don't know the answer to your question. Just more questions at this point. I look forward to some PRs both to industry and investors.
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