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NeoMedia Technologies Inc. Message Board

  • friedrich_telecom friedrich_telecom Jan 12, 2009 2:12 PM Flag

    Question for Brewski.......


    Since you seem to be the only one adding some substance to this board, let me ask you directly (note to the venomenous board that I am not claiming to add substance myself......) on your view of NEOM's financial picture at the moment. Wasn't the $8.7 mill (I know they did not get 8.7 yet, only the first tranche) dependent on performance milestones? What is next when these loans do not perform as agreed? How will that effect NEOM's stock holders equity....what is left of it?

    And WHAT revenue streams do they have at the moment? I cannot see any. Can you?

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    • Brewski,

      Thanks for astute comments......sounds as ugly as I feared. What about "plans" for revenue? I am trying to find what their short-term plans are for generating any kind of revenue that would off-set their monthly burn rate. Is there anything on the horizon that is going to level the NEOM plane or are we simply going to run this thing into the ground in 3 month? Last time the company received funds their stock was trading around .0045 and now we lost more then half of THAT.....Since NEOM has no real assets to pledge anymore, I doubt there will be more money coming in WTF COULD NEOM do????....Just shut the door and go home in about 90 days after they spent the rest of the fronted money?

      Damn, this sucks!!! I have loaded up on this damn looser way back believing in the technology, now I am reduced to hoping for nothing short of a miracle......

    • Friedrich,

      Yes the 8.7 million was tied to certain conditions being met. However, none of those conditions had anything much to do with earnings being generated.

      The kast half of that 8.7 million was due over a week ago, and thus far there have been no filings to suggest it has occurred, as is required by the SEC.

      Its also worth noting, that last half, or 4 million roughly, is supposed to be enough to carry Neom all the way to the end of 2009. I do not see how that will be possible, as Neomedia goes through about 3 million per quarter as we have seen consistenly over the past couple years, excluding all the other expenses they incurred for purchase and sale of subs.

      We also know those loans are used to pay YA huge fees, and this being end of year, Neomedia will have to use some of that money to pay off all the accrued interest owed YA on the prior loans to date, and there are many. At years end YA likes to collect all interest due them on those other loans.

      By the way they received the first and second tranche to date, and the 3rd was due January 2nd or 3rd I believe.

      When you look at their annual financials sheets, since 2005, their assets have dropped to less then 1/10th what they were then, and their liabilities have risen to over ten fold for the same two year period. Net tangible assets went from a minus 1 million approximately, to now almost minus 100 million.

      Total assets are 11 million and most of that is goodwill, where as total liabilities now is at over 97 million, and this new 4 million loan when it comes will put liabilities over 100 million.

      I do not see any of this changing over the next 6 months. A trial here and a trial there is not going to have much impact on the bottom line numbers, when the company spends about 3 million a quarter in operating costs alone.

    • "Since you seem to be the only one adding some substance to this board"

      LOL, now that is humor!

      • 1 Reply to adat2pod
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