This is a good time to do a final post, Fuego10, before the 10-K comes out...."as a reminder to YA management....
I'm going to keep repeating this until it happens...
When (IMO) IP licensing takes off this year and next, the money (about $50MM plus) owed to YA is chump change--period. NEOM should redeem the remaining Series C shares, plus coupon...AND pay off the Debentures as they come due (or maybe even prepay some or all Debentures at a premium). It would actually be better to pay off the 24% interest Debentures in full first in order to obtain a lien release on the IP rather than redeem the Series C shares first.
Assuming the foregoing, YA would still hold 1.4 B warrants to purchase 1.4 B common shares on the cheap from 2¢ to 7.5¢. YA would still effectively control about half the company based on exercising those 1.4 B warrants--you see...1.4 B share current O/S (estimated) plus 1.4 B common shares from YA's warrant exercise--would leave a total of 2.8 B common O/S (out of the 5 B A/S). Or, of course, YA could just sell their warrant position to another entity if they wanted to. (Important: *If by chance NEOM actually had loads of cash* then YA could also exercise the warrants on a 'net issuance' basis such that these 1.4 B common shares could be retired and never even enter the float IMO while allowing YA to get its huge upside return payment.) This also would leave plenty of A/S shares for future employee & management stock option shares.
Following the above scenario would go a long way toward keeping us (retail shareholders) very happy and would keep YA out of our 'litigation' sights IMO.
YA, are you listening? Respectfully, YJ.
P.S. Thanks for your support."
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