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Phishentine

07/02/09 11:22 AM

#177453 RE: clawmann #177448

Who do we report this to? Shall we email the company and give them a chance?

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CSykes

07/02/09 11:35 AM

#177459 RE: clawmann #177448

Stumbled across this post just surfing Ihub. I don't own NEOM, but have been following it for awhile now. Pretty intelligent question for Ihub lol.. Don't see them often.

If the shares have not been converted into common, into which they may have a vote, then there is nothing to report. The convertible should be recorded as a liability.

The reason YAGI can't own more than 4.99% is due most likely to it being some form of convertible PIPE financing. In most cases, when the shares are converted, they are used to cover short positions by the note holders.

It is legal, and common, for a note holder, to work in conjunction with a broker dealer, to short shares in anticipation of a conversion. Once the conversion is made, the shares are used to cover the shorted position.

This is most likely why no information is posted about YAGI.. because technically they do not have more than 5% voting ability at any given time. That have the right to convert.. but not the right to vote.