NeoMedia Technologies, Inc (NEOM)

[Poptech]

Person: On a default, YA would keep all the preferred shares and warrants. They would also retain rights to the debt.

The only thing that changes is they will sell the patents and reduce debt by a portion of what they collect.

They can then get right back to diluting NeoMedia.

YA does have the right to call the debt and force a BK, but that is at their election. NeoMedia can request a restructuring agreement to extend the maturity date and provide some additional benefits to YA.