Replies to post #151103 on NeoMedia Technologies, Inc (NEOM)

[shafinn11]

Dr Mike,

Did the shareholders have an annual meeting to elect the directors in 2008,2007,so on? Or do you know the terms of the bylaws? Just wondering because if this has not happened then it sounds fishy.

[jonesieatl]

drmyke, I think when a public company ...

... wants to continue being a public company and benefit from access to the public markets and be able to print shares to give to a loan shark ... err, I mean, a supporting financier in return for money with which to continue to pay salaries, benefits, expenses, handsome exit packages, etc ... I think when a company does all of that and wants to stay public, yes indeed they are obligated to hold an annual shareholders meeting.

Obviously our management hasn't felt the need to live up to that obligation in quite some time, and they're too far off the SEC radar for the SEC to force them to live up to that obligation ... or be delisted.

jonesie

p.s. the 'loan shark' is the 'fishy' smell someone noticed.

p.p.s. of course, I hope nobody would be expecting to cast a meaningful vote at such a shareholders meeting, since the company has stated in its very own SEC filings that YAGI, by virtue of all of the debt obligations it holds, has a deciding vote on an 'as converted' basis. You might be invited to vote, and you might vote, but it would be futile lol.