NeoMedia Restructures Loans
http://www.businesswire.com/news/home/20130205006264/en/NeoMedia-Restructures-Loans
Boulder,
February 5, 2013 – NeoMedia Technologies, Inc. (OTC BB: NEOM), the pioneer in global mobile
barcode management solutions, today announced that it has worked with YA Global
Investments, LP (“YA”) to extend the maturity date on its loans. NeoMedia’s
business has been growing and the restructure will allow NeoMedia to continue
to build its business in a sustainable fashion.
The restructured agreement will extend the maturity date
of the existing loans by 12 months until August 1, 2014, an extension from the
original maturity date of August 1, 2013. The agreement also cancels 1.4
billion of the 1.9 billion warrants assigned to YA and resets the exercise
price on the remaining warrants.
“We are happy to have again been able to work with
YA on extending the maturity date of our loans which will contribute to removing
the ‘going concern’ opinion in our SEC filings,” said Laura Marriott, Chief
Executive Officer of NeoMedia Technologies, Inc. “We have not required any
funding since September 2012, given the success of our 2D Core and IP licensing
businesses, and anticipate this trend to continue as our business continues to expand
in the growing QR marketplace.”
About
NeoMedia
NeoMedia Technologies, Inc. is the pioneer in
2D mobile barcode technology and infrastructure solutions that enable the
mobile barcode ecosystem worldwide. Its solutions have transformed nearly 25
million mobile devices with cameras across 193 countries into barcode scanners,
enabling a range of practical and engaging applications. With its suite of products, services and
extensive IP portfolio, NeoMedia is able to offer customers a comprehensive
end-to-end mobile barcode solution. NeoMedia’s current customers include
international brands, agencies, handset manufacturers and platform
providers. The company also has a
growing portfolio of patent licensees including Microsoft and Kraft Foods
Group, Inc. Learn more at www.qode.com or one of our online destinations: LinkedIn, Twitter,
and, Pinterest.
For PR inquiries,
please contact NeoMedia’s PR team:
For
PR inquiries, please contact NeoMedia’s PR team:
US:
Lisa Astor / Marki Conway, +1 617 502 4300
press@qode.com
