It is false to state that Dr. SS has sold his ownership in NeoMedia just because a 13G or D wasn't filed by 2/15/13.
One look at the 2012 10K shows that on 3/1/13 Dr. SS's holdings were reduced to a scant 3.8%. Meaning his holdings went DOWN by about 5% in just four months since he last re-confirmed his ownership on 11/2/12 (8.6% ownership at that time), falling BELOW the level of being considered a "beneficial owner".
So, therefore, though I don't think it was a requirement POST his 11/2/12 SG13G/A filing to refile a 13G or D even IF his share of company ownership hadn't been diluted down to below 5% by 2/15/13, point is, his ownership at that time was more than likely WELL below the threshold of 5% ownership negating his need to refile a 13G or D. Look at the chart...there was a lot of volume in 12/12 and a WHOLE LOT of volume mid-January>early-Feb.
And, stating that an R/S proposal (want) and increase in A/S (contingency) as being "foolish intentions" by the company being in the limited option position they are at the hands and direction of YA and past, legal, loan agreements w/ them, begs the question...
What you do in their situation?
Would anybody else here NOT do as YA requires by either, 1) instituting an R/S or, 2) increasing the A/S, thereby meeting the company's legal obligation to YA to provide the share structure in which they can satisfy their "need" to get paid if NeoMedia cannot pay them off in cash?
And would anybody else here NOT do it in a way to more than satisfy the need in shares to do this again OR reaching the point of attaining positive quarterly operating income along w/ having the ability to reach the more stringent pps requirements that some BIF's are known to have ($1.00/share) before they will invest?
And, would anybody else here NOT re-negotiate w/ YA for simplified, BETTER loan terms and REDUCTION (write-off) of the total long-term debt owed to them?
Just WHAT WOULD YOU DO????
Sounds like some here would simply let the company fold w/o a fight for viability or even a shred of chance for increasing shareholder value. Say it ain't so.
lns
p.s. - YES, confirmed...the SHM is on as scheduled:
"SHM is on schedule for next week, no change." (LM)
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