I've often wondered about this statement ....
.... which was often construed as somehow being 'protective' of NeoMedia's interests lol.
It appears in most if not all of these extor ... , er , I mean filings:
"would beneficially own in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to such conversion"
Define beneficially.
I'm guessing Yorkville can temporarily own as many shares as they want to , can convert and dump as many shares as they want to , because they don't own any shares 'beneficially' LOL.
They only own them after buying/converting them at a discount to VWAP long enough to dump them on the open market.
And somebody just keeps giving them more. I guess Chip didn't give them these , did Frank? No , Frank left , so Iain and Scott had to give them to Yorkville to PAY Chip and Frank and the light bill.
The 'system' just gives these guys an apparently infinite stack of 'blank checks' to write with little or no accountability to common shareholders regarding just what the heck are the prospects of revenues any time soon which warrant this continued 'looting'.
JMO
jonesie
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