Silversmith I have read all your posts and believe you have a solid take on this company and its technology...and I agree with your reasoning regarding an imminent sale.
Others here believe the company should be allowed to grow (which also includes IM's same sentiment during the last CC). I simply have to disagree. While I concur that the company would most likely be exponentially more valuable generating positive cash flow, I have to remember YA is a Hedge Fund. YA does not grow companies. They finance them, plain and simple.
They've cleaned up the books, released the IP from default, reduced the warrants from 1.4-Bil. to 1-Bil., laid off most personnel, cut salaries across the board, stated those same reduced salaries would be returned to their former levels in the future, have released YA from all past transgressions, pulled the financial plug on the 3rd tranche involving a $4-Mil. life line immediately after the PTO 048 patent validation, all the while providing much smaller bridge loans to sustain the company going forward. If anything, one would think the 048 PTO patent
validation would be caused for $10 or $20Mil. in funding if they wanted to grow the company. But no, they pulled
the financial plug. Why?
Big in Japan has 40 FT engineers, are hiring and are growing server farms to handle ShopSavvy's backend OS platform. All NeoMedia's sales people are gone. The 2 software engineers remaining are PT and work from home. IMHO, NeoMedia does not have the in-house ways, means, resources or capabilities to take this technology to the next level...which is again why I agree with you about a (sooner than later) sale.
Assume 1.8-Bil. float, 1-Bil. warrants, the series C prefered can be retired to treasury and the below conditions are free from complicated legal wrangling:
$100-Mil. sales price = $0.0357 per share
$200-Mil. sales price = $0.071 per share
$300-Mil. sales price = $0.0107 per share
$400-Mil. sales price = $0.143 per share
$500-Mil. sales price = $0.179 per share
$600-Mil. sales price = $0.214 per share
$700-Mil. sales price = $0.25 per share
$800-Mil. sales price = $0.286 per share
$900-Mil. sales price = $0.321 per share
$1-Bil. sales price = $0.357 per share
All the Best, JP