hal: I think there are two points to the Microsoft 8K filing that could support this oft-cycled rumor.
I just can't get past one central question: why would Microsoft sign a licensing agreement before a buyout?
Which leads to more questions:
1. It gives NeoMedia needed leverage to get additional licensees. So Microsoft doesn't want exclusivity from unknown future licensees?
2. Assuming Microsoft did write a check, why pay for the patents twice?
In the time it took to execute a licensing deal, they could have called YA, bought the debt, and shut down trading.
The two points of the contract that might support the otherwise unsupported rumors:
1. The Microsoft deal was filed as not material so maybe they didn't pay for it twice.
2. The Agreement contained an unusual assignment clause that would prevent NeoMedia from a participating in a buyout. The clause could be unwound by only one company: Microsoft.