IMHO I expect Gavitec will continue working closely with Nokia to embed the Universal Reader on all Nokia handset hardware (aka back-end the Service Providers by going thru the OEM's, as mentioned in the CC).
NeoMedia initially bought 12Snap for aprox. $22mil. in small cash and a large share count at $0.39/share. When the share price dropped with no floor built in to contain it, the share count owed to 12Snap etc. became quantifiably and proportionately larger under the initial sub-acquisition agreement.
In addition to substantially reducing the top off agreement share structure, there is another more real and definitive reason as to why NeoMedia sold 12Snap back to the company's management and Bernd M. Michael, a former shareholder, at a total purchase price of just under $5 million.
"The buyer will pay $1.1 million in cash at closing with another $500,000 in escrow to be paid within 90 days. Additionally, $2 million in seller's top-off costs will be waived. Also, the new owners will provide NeoMedia with 10 percent of 12snap's total stock, a $750,000 value; a share giveback by the new owners of 7.5 million NeoMedia shares valued at approximately $382,000 and $200,000 worth of free services by 12snap. As part of an ongoing cooperation agreement, 12snap will remain a preferred partner of NeoMedia, enjoy most favored prices and continue to develop the qode/lavasphere technology for the company. 12snap's current supervisory board members will deliver their resignations."
Now think about this: 12Snap could have easily fetched $25-30Mil. from the likes of say Bongiorno. The 'hard & fast' question now remains: Why did they do this?
Nokia is still very much in the loop here with NeoMedia:
Nokia Ventures recent sale of 5MM shares through THNK dropped their ownership of NEOM to just under 5%, thus no further SEC reporting requirement. Nokia Ventures still has 43,873,780 NEOM shares remaining.
Nokia Ventures will want to make a significant return on their share structure in NeoMedia, but just how will they be able to do this? Hardwire the Universal Reader on all Nokia handsets. Then sustain a win against ScanBuy. In the interim, R. Durst will continue seeking licensing agreements. How much will NeoMedia's IP be worth then?
The mobile marketing space continues to be divided among key international players...
All the Best, JP
"Building a strong mobile presence doesn’t have to take hard work. Just the right partner..."
dlethe01, I'm lucky to know him personally. He's working as a consultant for both companies. He's also a shareholder in Neomedia (because he was a former co-owner of Gavit.) To sum up: A bright and reliable guy.
News 
Market Data 
Discover 
AI
