NeoMedia has a history of waiting until the last minute. Why? It's like an English assignment. Write a paper due on 31 May. Most people wait until 30 May to start writing. Human nature.
We could hit the date and have no financing announced. We could hit 7 June and not have financing announced. Why? Revenues to offset the burn rate. The 31 May date was an estimate. NeoMedia's burn rate has gone from over $1,000,000 per month in early 2008 to less than $500,000 per month in the 1st quarter. We know they are getting more revenues so the burn rate continues to decrease.
So will they announce by 31 May? I hope. Do they have to? No. Will they have financing for the next year? Yes. From whom? Your guess is as good as mine. But if pressed I would say YA. Because they are greedy and don't want anyone else to come in with a small stake when the end game is near.
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