Daniel:
It has been a long time and there are thousands of NeoMedia stories like yours. That might be the bottom line for the PPS. Investors have lost trust in NeoMedia and it will take consistent performance by NeoMedia to turn the tide in the investment community.
2011 will be a very different year for NeoMedia for three reasons. They are reforming the business model into a campaign manager role with targets at major brands and agencies. This will give them the opportunity to PR major news on a consistent basis. With the PRs, NeoMedia will get attention from the investment community. Over time, NeoMedia could be recast as a turn-around opportunity. eBay didn't get the chance at PR so it is tough to say what a proper PR would do for PPS.
Two, they have stopped being the niche technology in the industry. NeoMedia has adopted industry standards which allows all of their codes to be scanned by all QR code readers. 100% versus 1%. This is a major change for NeoMedia.
Three, they are becoming a company that is no longer defined by their intellectual property. Let's face it, NeoMedia heartaches have been centered on patents that never experienced commercial success. In 15 years. Lots of partnership agreements, lots of reseller agreements, lots of handset agreements, and that adds up to a million and a half bucks in revenue. The IP wasn't scalable. Laura actually said they are now willing to sell off the IP. This takes the handcuffs off NeoMedia.
They now have the right business plan for this market. If they execute, PPS will move North in baby steps. Investor confidence will return, but slowly.
The questions remain about the lack of a sales team and YA tactics. The later will likely never be known to investors, but conservatively we should assume they will convert everything. For the former, we had better see hiring in the first quarter because there are no salespersons in Atlanta.
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