| To: levy who wrote (123) | 2/22/2001 7:32:43 PM | | From: Pareto | | | | levy,
Neom reports a profitable quarter, caused by a license fee of 7 million dollars for the Digital Convergence deal.
However, they registered on 12 February the sale of
"1,400,000 shares of common stock to be issued upon exercise of warrants held by Digital:Convergence Corporation." for about 7 million dollars.
freeedgar.com
(click on S-3 Registration Statement) DC is named at page 8.
This is what KPMG had to say about NEOM:
"Our report contains an explanatory paragraph that states that the Company has
suffered recurring losses from operations, has a significant accumulated
deficit, and a working capital deficiency that raise substantial doubt about its
ability to continue as a going concern. The consolidated financial statements do
not include any adjustments that might result from the outcome of this
uncertainty.
KPMG LLP"
(at the end of the registration statement)
what do you think of it? |
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| To: Pareto who wrote (124) | 2/22/2001 8:29:52 PM | | From: levy | | | | | I think neom in return is getting the same amount of stock in dc...I will have to look it up...that report is correct up until the time of dc deal....as long as dc deal is for real then neom is ok,......dc deal seems to be for real to me |
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| To: levy who wrote (125) | 5/4/2001 6:40:46 PM | | From: Pareto | | | | hi levy,
NeoMedia Technologies, Inc., to Raise Up to $6 Million Through Warrant-Repricing
siliconinvestor.com
"Charles W. Fritz, chairman, president and CEO of NeoMedia, said repricing warrants "increases float, decreases overhang, and provides low-cost funding."
So why all companies don't start with warrant-repricing??
or is it another trick out the hat?
This is my translation of the deal:
Neom was looking for users of the "print to internet" standard. Did a deal with Digital Convergence. "A 100 million+ 10 year licensing deal."
DC got 1,4 million shares when the share price stood at 6 dollars. It promised to pay in cash on Jan 1. 2001.
Now it turns out that the shareprice is lower. DC did not pay, buy the income was booked in the quarter for Neom.
Now it turns out that DC did not actually pay, but got a credit of Neom for the amount of the payment. Current news item indicates that DC gets another 3 months to pay the initial sum. Neom gets a share of the proceeds of the sale of the warrants, under the current share price.
It is not my intention to be negative, but I don't like it that Neom present all news as exciting good news, hiding what really is going on.
Regards,
Pareto
(click on the penguin on sitios.cl to see some pictures of Mike Levin, you once recommended to me) |
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