Huge civil fines and revocation of its licenses to do business is undoutedly in order.
At the April CC a caller vehemently disagreed with Zima's interpretation of agreements insisting YA had NO RIGHT to lower the conversion rates. Zima disagreed. After reading of the violations Yorkville Advisors is accused of, I am certain the caller was correct and Zima was wrong concerning YA's ability to change the conversion rates. Some of the rates are as low as .003 which is below par at .01. Zima stated NeoMedia never issues shares below par which means SHAREHOLDERS have to make up the difference.
YA's toxic debentures are onerous and a blatant mistreatment of shareholders and should be prohibited by law.
A debt holder in a public company SHOULD BE PROHIBITED BY LAW to draft derivatives where the company suffers increased indebtedness as its share prices INCREASES! That is the case with NEOM shares where the derivatives penalize shareholders when the pps increases.
I hope the Cobalis lawsuit is the undoing of Yorkville Advisors. No company should be able to rack up $100's of millions in SEDAs without any payment guarantee whatsoever. Mark Angelo tells Bloomberg News clients trust YA based on its track record (video interviews at YorkvilleAdvisors.com).
Yorkville Advisors under the magnifying lenses of the SEC and DOJ and FBI is the best thing that could happen for NEOM shareholders apart from NeoMedia obtaining the funds necessary to pay off YA.
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