Les - $2.5 million isn't much considering that it is only (in reality) $850k more then what YA had earmarked for Neom in previous funding agreements. Remember, the 4 mil that was reduced to month to month financing (after patent reaffirmed) 1.1mil - 715k - 535k had been given since. Then Neom, sustained itself for 4 months (Scanbuy money?) - Only to be given $850,000.00 more then what was already on the table "FOR COMPLETE CONTROL OF THE VOTE" and subsequently, whatever terms best suit YA Global...
Iain, handed complete control to the devil for $850k Wow! Just when barcodes are ramping up! lol and what's even more hysterical is that YA Global profited handsomely from the reduction of funds in the first place 1. By the false sense of hope that Neom didn't need the funds (perpetuated here by many lol) and 2. With the pps tanking upon further funding scares in May-June, whereas, YA recouped way in excess of $850k by setting a new low and converting (dumping upon actual funding, etc. So, in essence control was given away for how much?
There exists only 2 motives behind the recent 8k
1. To repeat the process of humongous dilution. Otherwise, why is there a need to reduce par value 90% and leave the A/S @ 5 billion?
2. YA, knows a sale won't generate much and is seeking to convert all debt to common upon such. Which dilutes the hell out of any returns the common shareholder stands to gain. Doesn't matter how one tosses the numbers around its still a substantial loss of value to the common shareholder. Note: Your NASDAQ dreams have already been shattered, by a previous poster.
That is it! Remember the increase in A/S and decrease in par value before? Well, what ended up happening? Dilution/Loss of shareholder value.
YA Global, diluted the O/S with over 800 million shares LAST YEAR alone with the majority of those shares having been converted BELOW PAR! and somehow, we are to think they haven't structured the agreements to continue dilution? When all that they have really done with this latest 8k is to ensure they can LEGALLY... and profitably. They we're in a jam with the .01 par value issue and they fixed that problem!
BTW, your numbers are so far off its not even worth debating. eom