NeoMedia Technologies, Inc (NEOM)

[Poptech]

1234: There is good chance that YA will not restructure again. After the SEC filing, it is clear that YA's charter is to hold loans for "an investment horizon of 12 to 18 months." They have to get NeoMedia off of their books now that the suit is targeting this investment window as an investor misrepresentation.

By the time NeoMedia hits the maturity date, NeoMedia securities will be worth $0 under YA's valuation policies. Putting the patents up for the Fall Patent Auction will be painless for them. The nasty part of the deal is sale of the patents may not extinguish all the debt.