Can't own outright , correct.
That's why they convert Preferred and dump on our heads.
But they still have voting rights totaling tens of billions of shares , so they control what the company does , doesn't do , and they will vote to exercise their ownership rights whenever it benefits them the most.
Here's what happens because they can't 'own' more than 4.99% at any given moment ... here's what they dumped on the open market last quarter:
07/14/08 21 10,000,000
07/22/08 21 10,000,000
08/04/08 42 20,000,000
08/05/08 63 30,000,000
08/11/08 42 20,000,000
08/22/08 21 10,000,000
09/03/08 21 10,000,000
09/15/08 75 25,000,000
09/19/08 60 20,000,000
That's 155 million shares. In two months.
They dumped those shares because they think there's really something really really good in the offing with NeoMedia. LOL
They dumped on the open market over 10% of that outstanding share count you were asking about , and they did it in about 2 months. The outstanding share count keeps going up (that's D I L U T I O N) , the price stays down , and between the conversion ratios and the constant granting of more and more warrants to YAGI their percentage ownership of the company gets higher and higher , so whatever NEOM 'might' be worth on an auction block one day will mostly go to YAGI , if not entirely to YAGI.
jonesie
p.s. YAGI believes in NEOM because they give them money? What's 155 million shares times the share prices on those dates? Wanna do the math? How much did YAGI 'give' NEOM in that first tranche? YAGI is getting a free ride , and between these perpetual share sales , the upfront 'management fees' and any repayments by NEOM , their net 'investment' is actually very low.
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