Tonguehair, there is no former hands-on management left per say other than CF and DD. There are people who have currently been put in-place that are specifically designated to assist NeoMedia divest and streamline the operation going forward. Cornell does not want to run or own a business. They invest in businesses to make money. Hence they will oversee NeoMedia thru this transitional period which is well on its way. After that, I emphatically believe we will be refinanced, be rid of Cornell with cash in hand from sale of our holdings and generating revenue with new and existing customers of qode. It is there intent to announce break even or cash flow positive results for 1Q07, with increasing margins each quarter thereafter.
The 4-Bil. Authorized Shares were an addition to an existing poison pill initiative coupled with a share short fall make up. They can not touch any additional stock which is in their treasury at present. If anything, they are eliminating the pledged 116 Mil. shares to the sub's by unwinding these deals.
NeoMedia has brought qode to the market. Can you sell a product that does not exist? This was 10 years in the making and the product is off the launch pad and is working very nicely for News Corp. right now, which will only continue to flourish. They have 5 insurance company's signed in China and more deals in the pipeline for 1Q07 here in NA. I'm sure you enjoy using qode on your cell or PDA, don't you?
Special Blessing to you and yours this Holy Holiday Season.
All the Best, JP
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