Ricky - What percentage is 25mil when factored in a 5 billion float? .005 . Upon a reverse split that number represents what shareholders own of the company, utilizing YA Global's history as a gauge. There are SO MANY default clauses embedded within the documents - YA GLOBAL has Neom and its shareholders by the nads. PERIOD! reduction in par value, as converted basis, float remains, inside personnel, on and on.
Somebody brought up Market Cap. When analyzing Market Cap - one needs to factor in the A/S - especially, when every single contract has the "as converted basis" written into it. The way things stand right now pre-split (.01 par value 5 billion) float YA Global, has more convertible debt than Neom has shares available. Hence, the requirement that the float doesn't change. Get it?
Your expecting YA Global to play nice when in fact they never have. Your expecting Neom to protect shareholders when they never have. You are completely hoping somehow things will be different in the future. Hope that's all you have. There is no basis - no reasonable way to interpret what YA has done of recent that can be construed to be in the retail shareholder's best interest. All of this completed by YA Global when the microscope is on them GO FIGURE!
Let me give you an example: Recently YA attempted and temporarily was able to get Neom to convert shares below par and book the difference as deemed dividends (accrued dividends) etc. Well ultimately they must of realized the legalities of such and YA Global made a correction - right? So, let's fast forward to post split ( the Series D Certificate provides that the Series D Convertible Preferred Stock will pay dividends in an amount equal to 8% per year, if and when dividends are to be paid (as declared by the Company’s board of directors). ------ Do you notice the subtle difference? I bet most haven't caught this subtle but major difference --- Traditionally, the notes accrued interest NOW its dividends. Its little things like that embedded within the various contracts that are very deceptive and VERY TELLING. Why dividends and not interest?
I ask of you these questions (and any answers you provide should open your eyes) If Neom is truly on the cusp of generating substantial revenues WHY didn't YA Global just lend Neom more money as they had before? They were already getting fantastic terms across the board, so why? You see no matter how one looks at it YA Global pulled a fast one IN THEIR FAVOR! That can't be disputed. Was there a need for a reverse split providing YA doesn't intend to add to the O/S? NO, but YA has a need. Was there a need for the A/S to not be factored in accordance with the R/S? No, but YA thinks so. Is there a need to reduce par value to .001 (sure to scare off institutions)? NO, but YA wants it. Do you honestly believe any institution would invest in Neom with YA Global involved? No YA Global has a unfair advantage and institutions don't like that when the insider is known to be destructive. Is there a need to rewrite all of the contracts with the 120 look back feature? NO, but YA thinks so.
If a sell is in the works (near future) is there any reason at all to do anything of which YA has done or plans to do? NO, but YA did it and will do the rest for their own and only their benefit. eom
No need to respond as this is my last message with regard to Neom. We gave it a good fight with respect to par value and we found ourselves in a very good position with the whole par value issue. That was until YA Global realized we were in some regard on equal footing - They had no advantage over us WE WERE IN ESSENCE ON EQUAL FOOTING WITH RESPECT TO THE COMPANIES FUTURE. YA GLOBAL, didn't like that and completely changed the game. So much so that I can't play anymore. I love my wife, kids, and family not this stock. My money is for their future not YA Globals.
Have fun and I wish you all the best - I truly hope somehow things work out for all of you and you end up in Vegas or better. Peace...
AI
