NeoMedia Technologies, Inc (NEOM)

[AlfonszyD]

Hey Hoff,

It's possible Soon has increased his share amount, but not by very much at this point.  Tracking the current OS stated in Neomedia filings you can gauge if/when he may have bought more.

Based on Murrays 13g filed on 6/29, he filed an amended 13g that he had fallen below the 5% threshold to 4.97%.  When filing an amended 13g he has to use the last publicly filed OS share count...so we know in his filing he based it upon The 10Q

(4) Percentage of Class based on 1,100,236,551 outstanding shares as of May 7, 2012 as reported by Neomedia Technologies, Inc. Form 10Q/A filed on May 21, 2012.
http://www.sec.gov/Archives/edgar/data/1022701/000154727112000005/mcmneom13gamended.txt

So we know as of that date Soon based on his stated 113,394,743 shares was still more then a 10% Bene owner.  So if he bought anymore before the 10Q on 8/14 he would have had to file an amended 13g, which he didn't...so we know he was still holding his 113m up until 8/14.

After 8/14...the current publicly stated OS amount was 1,323,665,957. So at that point he was no longer a 10% Bene Owner and could do two things without having to file an amended 13g to this point other then hold.

1. He could sell all of his shares without filing
- I don't believe he has done this based upon the activity of his MM he used to purchase CANT, there hasnt been significant activity as of late(although he could use another MM but I doubt it)

2.  He could be buying more, but only about 20million worth.
- If he bough more he would then become a Bene Owner again and have to refile

You may be right, he might be gradually increasing his shares...but we know for sure it could only be up to 20m more at this point.  Even though we can all pretty much assume the OS shares is probably a decent amount higher...I would guess 1.6 to 1.7B based upon a 30% avg dilution rate historically from YA.  There was 1.1B shares traded total in August.  So he's probably fallen below that level at this point, but once the next 10Q comes out next month with a new OS share count he's free to purchase some more up to 9.98% without having to file. Could probably pick up another 30m or so.

The best thing we could see is him filing a amended 13g with a higher share count...but we must also see an amended INTENT...then he would be free to gobble us up or pair up to wipe out YA.  To this point, we know based upon his original filing he can't have even approach Neomedia about a buyout...the SEC laws regarding 13g intent are pretty straightforward...he can't even approach them informally about a buyout without refilling.   It's odd, but you aren't even allowed to hire an investment professional to investigate a buyout until you refile your INTENT.  That alone the SEC views your intent has changed and you must file an amendment.

I personally still think he may have an interest.  I can't believe that he or his money manager just thought Neomedia was a good investment or undervalued....for the simple fact that he or the manager would know the 13filing alone would dilute his own investment...IE de-value his original stake by bringing in the volume.  

So the question is WHY did he buy enough to file a 13g...and buy it aggressively....only to dilute his own investment out by the volume and speculation it brought....Seems like he wanted to volume and dilution...WHY?  Guess thats the answer you and I and everyone want to know