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Thursday, November 05, 2009 5:24:29 PM
http://www.gomonews.com/first-interview-with-iain-mccready-ceo-neomedia/
Iain: No. I am only concerned with the future. I am going to concentrate on funding, moving forward and to concentrate on a sensible footing for the business.
Bena: Hmm. But what about when NeoMedia was huge and bullish and then it was like Yorkville came in and NeoMedia went down hill and so did profit.
Iain: The market for mobile barcodes just wasn’t ready we were too early.
Bena: So are you going to survive from loans from Yorkville – how will that secure the future? I heard that the company was giving you USD 400K per month?
Iain: Yorkville have been extremely supportive of NeoMedia and will continue to be. I have a strong track history of getting and bringing in new investment to business. That is what I am going to do. I am going to get strong funding for NeoMedia and turn the company around.
Bena: I don’t understand. Is that new funding – without Yorkville?
Iain: It is capital from strong partners, investors and VCs. We need to get more funding for NeoMedia to make this company happen.
Bena: So with Yorkville?
Iain: I see Yorkville as part of our future. But I also see new investors seizing this great opportunity.
Bena: What if you don’t get funding?
Iain: Bena. You know that if we don’t get funding that will not be good for NeoMedia, as we know that companies need money to survive. I will get funding for NeoMedia. I am extremely confident of that fact and we will make this business a success.
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Concurrently you have a 'change in control' scenario dependent upon these events:
12 reasons why NeoMedia is in-play
1.) Full disposal of Maxicode and PDF417 legacy software products
2.) Formal notice by insiders to SEC of their acquisition of the 'Change in Control' options
3.) Salaries/fees of employees/directors to revert to former $ amounts upon a 'Change in Control' of the company
4.) Mass ROF off most all employees
5.) Indemnification of YA of all past transgressions by NeoMedia
6.) Free-up of IP default
7.) YA's elimination of 400-Mil. warrants
8.) 3rd $4-Mil. tranche elimination and subsequent bridge loans on the heels of PTO 048 patent validadtion
9.) No warrants included in all recent debentures
10.) Glaring T&C in IM's contract to earn up to $5-Mil. for NeoMedia sale at $200-Mil. target
11.) Gavitec AG incorporated into NeoMedia - as NeoMedia Europe.
12.) Thorough cleaning of the books
All the Best, JP
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