NeoMedia Technologies, Inc (NEOM)

[Personalizit]

NeoMedia Restructures Loans
9:47a ET February 5, 2013 (Business Wire)
NeoMedia Technologies, Inc. (OTC BB: NEOM), the pioneer in global mobile barcode management solutions, today announced that it has worked with YA Global Investments, LP ("YA") to extend the maturity date on its loans. NeoMedia's business has been growing and the restructure will allow NeoMedia to continue to build its business in a sustainable fashion.

The restructured agreement will extend the maturity date of the existing loans by 12 months until August 1, 2014, an extension from the original maturity date of August 1, 2013. The agreement also cancels 1.4 billion of the 1.9 billion warrants assigned to YA and resets the exercise price on the remaining warrants.

"We are happy to have again been able to work with YA on extending the maturity date of our loans which will contribute to removing the 'going concern' opinion in our SEC filings," said Laura Marriott, Chief Executive Officer of NeoMedia Technologies, Inc. "We have not required any funding since September 2012, given the success of our 2D Core and IP licensing businesses, and anticipate this trend to continue as our business continues to expand in the growing QR marketplace."