Replies to post #83218 on NeoMedia Technologies, Inc (NEOM)

[success622]

Silent partner update; good to see this is being updated from the prior 10Q, when it was previously reported (may have also been reported in the 12snap 8K haven't gone back even farther to double check at the moment)

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Posted by: JPetroInc
In reply to: None
Date:5/15/2006 10:13:14 PM
Post #of 83229

12Snap - remaining SILENT Partner payment

"The partnership agreements regularly terminate on December 31, 2008 and 2009. However, due to the acquisition of all shares of 12Snap by NeoMedia, an early termination has been agreed on for all SILENT partnership agreements. Those SILENT partnerships have thus terminated as of February 28, 2006. According to the termination agreements EUR 1,750,000 (approximately $2.1 million) were repaid to the SILENT partners in March 2006. Another installment amounting to EUR 1,750,000 (approximately $2.1 million) plus interest will be due as of December 31, 2006."


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Posted by: yellowjacket
In reply to: beam11 who wrote msg# 72846
Date:5/8/2006 11:02:05 AM
Post #of 83228

12Snap is "one" major customer from profitability IMO (Lufthansa?). Major customers look to represent $600K-$900K of annual rev (12%-18% each). Couple this with ongoing reduction/payoff off "silent partner" (German Gov't sponsored entities) and other debt that is being paid $500K in interest and they're likely profitable.