NeoMedia Technologies, Inc (NEOM)

[CRASSUS]

No, they did borrow. Check out the 10Q. And not only did Neomedia keep quiet about the (bridge-)loans (there were two as far as I remember), they also issued the following shareholder notice after borrowing again:

We have been asked a lot recently about funding. The Company last received Convertible Debenture based financing from Yorkville Advisors in late July 2012. As we have previously stated, the Company’s objective is to move towards cash self-sufficiency as rapidly as possible through cost reduction and enhanced IP licensing revenue. It remains the objective of the Company to reach this milestone.

While this is true of course, Neomedia acknowledges the notice is a response to questions about funding, while not mentioning the recent non-Convertible Debenture loans. To me this is the epitome of deception. The gloves are apparently off.