Hey JP, glad you're back, we all need to do some serious thinking at the moment re the cornell agreement and neom's path right now. We've momentarily weathered the sell-off, but we've definitely been shown the potential volatility here, and how quickly we can drop. There are an enormous number of shares here that are held by jittery investors who bought re TS's comments, who are ready to sell at the first sign of bad news. And let's face it, the Cornell agreement was bad news, because it was a clear indication that Neom management does not expect any real revenues within the next two years, nor do they seem to have any problem with diluting the heck out of the stock to stay in business. They tried to slip this agreement out on a friday after market close, with no pr, hoping the vast majority of shareholders did not see it. Most penny stock investors know all about cornell and how they work. Cloud, I'm not sure about the .20 price, it holds for some warrants, but for the majority of the 100 million? And can't it be amended at any time as the stock price declines?
JP, it's a very good question that both of us have now asked; why 100 million dollars, and why now? What is neom planning? It's not just bsds, and i don't believe it's paperclick. I think it's the word registry launch. And an acquisition that we don't yet know about. I'm hoping it gets pr'd soon. i do think this 100 million dollar loan means neom is not expecting any money in the virgin settlement; lets hope they at least get a positive finding without money, a settlement that allows a pr stating their patents hold up. I believe they will get that sort of finding, but i am not as sure as others on this board. I simply don't have the patent background to be confident in such a wide reaching and powerful verdict; giving neom this "bridge" would be an enormous thing, considering all the developments going on with barcodes and cell phones.
Ok, back to the cornell deal. I truly fear, and believe, that neom management would have no problem diluting to a billion shares. They have had no problem doubling the amoutn of shares in the past two years. And despite what they have intimated, I also believe they will have no problem reverse splitting when the shares get too high. It's a horrid thing, but all OTC companies do it sooner or later. It's the only way this stock will ever have even a remote chance at a reboad. IMO, there WILL NEVER be a buyback program; you don't borrow 100 million dollars by printing shares, then use the money to buyback shares. That's plain stupid. And there WILL NEVER be a real investment made in this company by a major fund as long as the Cornell deal stays in place.
I am also concerned that Chas sold 1.5 million shares about three weeks ago, and then this cornell agreement comes out. I can tell you right now, that the next time Chas sells a million shares, I'm selling a million shares too. I'm not intimating or accusing anyone of anything, i'm simply stating a point.
Now, that's all the negative. back to the positive. Why 100 million, why now? IMO, there will be a pr within the next two days; management can not ignore a drop in pps like this, so news will come. Let's hope they can do us some real good here with something important and offsetting.
I believe in neom's products and technology; I am hopeful in their virgin suit and the strength of their patents. I am optimistic about word registry and the possibility of paperclick taking off within a few years; and i think the RFID market will be huge if Neom lives long enough to see it; But I am not at all happy with Neom management. I am unhappy that they can not seem to make any revenues or get anyone to partner with them at this juncture; and I am frightened by their seeming lack of regard for the current investors, or for the pps.
There you go. I look forward to reading all of your posts, as many of you know much more than I do about many of these issues.
best
Joe
AI
