Replies to post #156118 on NeoMedia Technologies, Inc (NEOM)

[Personalizit]

Now that's DD, digging deep in the SEC filings, which most ignore.
Thanks.

[clawmann]

Jonsie: you wrote:

"I've shown SEC filings for other YA clients where they took those companies' assets/IP/etc when they were in default and in one case that I recall , put those assets into another publicly-traded company they had their hooks in. YA's actions had nothing to do with how much was owed to them ... it was solely based on the default situation and because ... YA could do it if they wanted to. The shareholders were shocked. Nothing changed due to their shock."

If YA did what you indicate, the shareholders of that company have only themselves to blame for allowing the assets to be taken and then dumped into another company. They had every legal right to demand that the management of the debtor exercise the company's rights to demand a "commercially reasonable" sale of those assets. And if the management refused to act, any one of the shareholders could have brough a derivative suit asking the court to set that transfer aside and to order such a sale.

The problem is that shareholders in penny stock companies are just not very good at asserting the rights they have. Instead they read boards like this and erroneously conclude there is nothing they can do.

I do not fall in that category and I will, will, pull that trigger without notice or consultation if foreclosure happens.
And I know there are a number of you who have put serious money into this stock and you would be foolish not to consider doing the same.


I am more than a little irritated with a number of posters who fail to understand this age old legal maxim: "He who sits on his rights loses them."

[beam11]

Jonesie - Please list the companies or show us the news sites or PR cites or any evidence, such as SEC filings, which you noted, as proof that YA took all the company assets and sold the same assets to another co. controlled by YA.

I would also like to know when all this occurred, early 2000, 1990's or 1980's or after SEC investigations and new regulations regarding hedge funds taking over small start up companies, in which YA has interjected its own management groups in these small companies.

I would also like to know if CC/YA owned controlling preferred stock in any of the companies you have referenced. Were these situations, only notes owed by YA for assets pledged, with no convertible preferred stock owned by YA?