Tundra,
Had you participated on this board many years ago, you would have viewed me as Neom's greatest cheerleader. Then in approximately 2010 or 2011 I began a strong mantra that volume was not our friend and that NOBODY should be purchasing so much as a single share. I had finally realized the dilution was not going to end and would continue to endlessly dilute our investment. Many who had member marked me suddenly began removing their marks as I continued what I believed was the proper path.
Upon viewing Neom's filing last June, I was dumbfounded, but then suddenly realized what I felt was a relevant and highly important inconsistency in that filing. The filing stated YA had called in the debt, and stated what options YA had, HOWEVER, it in no way shape or form stipulated Neom's ability to repay the debt, whether or not Neom was working to secure new financing elsewhere or had already secured new financing, or any other options they might pursue, or simply that they had no ability to repay the debt. It left EVERYTHING up in the air and to people's imaginations.
Subsequently, Neom's website was updated via a find/replace changing mention of Neom to NM, LLC, yet they failed to disclose the change in status directly on the website, and they retained Neom's contact email address, maintained all mention of being a "public company," all mention of the stock, etc! It simply failed to make sense.
I was also notified by someone in my circle that all financial websites had removed ALL news items EXCEPT one and only one item on each financial site (two news items did not exist on ANY financial website that was checked): Either a 3 year old transcript of an interview Laura had, which was more than upbeat and positive...OR, what I believe I recall was the last quarterly report.
There exists a host of bullet points (several pages worth) I made of inconsistencies which in my personal opinion had matters appear less of a company which had been shuddered, and more like a company being prepared for a clean slate, as though it was to be relaunched.
Why CHANGE the news items on each and EVERY financial website and not place an announcement atop the home page of the Neom website? This is basic, and it may very well be a legal requirement for notifying vendors (although I am hardly qualified to make such a determination). But WHY spend time and money to change EVERY financial website should the company be folding??
I would like to be very clear that there exist specific reasons for my change back to cheerleading.
All of the above is based purely on opinion.
Best,
Be Confident
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