That the terms of the preferred would allow that result more than amply demonstrates how poorly Neomedia was represented by the people who negotiated those terms.
And it makes me ask: Was there anyone who was really on Neomedia's side of the table? Was there a table? Or did YA just put a piece of paper in front of Neomedia's management and they just signed?
The above questions are not just rhetorical ranting. They may well have substantial legal significance if push ever comes to shove.
The extraordinary level of incompetence of Neomedia's prior management is mind-boggling.
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