YA Global Investments Infuses Additional Capital into NeoMedia Technologies
$450,000 investment shows YA’s faith in tech firm’s products and future
Boulder, June 7, 2012 – NeoMedia Technologies, Inc. (OTC BB: NEOM.OB), the pioneer in global mobile barcode management solutions, today announced that it has received an infusion of $450,000 in capital from YA Global Investments, LP. (“YA”) that will be used to continue operations and innovate new mobile technologies.
YA has been a longstanding financial backer of NeoMedia. Working with NeoMedia since 2002, the firm has invested a total of $2.2 million in the mobile technology company this year. NeoMedia has been a leader in the 2D barcode and quick reader code market and has helped create successful mobile marketing campaigns for many Fortune 500 companies.
Last week, YA agreed to restructure its current financing agreements with NeoMedia to allow NeoMedia to capitalize on its current position in the market and continue to build for the future. The restructured agreement will extend the maturity date of the existing loan by 12 months until August 1, 2013, from the original default date of July 29, 2012. In addition, the interest rate attached to the current loans has been reduced.
“NeoMedia appreciates YA’s long-standing investment in the company and is happy to continue working with this partner in the future to meet our goals,” said Laura Marriott, Chief Executive Officer of NeoMedia Technologies, Inc.
NeoMedia Technologies, Inc. is the pioneer in 2D mobile barcode technology and infrastructure solutions that enable the mobile barcode ecosystem world-wide. Its technology platform transforms mobile devices with cameras into barcode scanners, enabling a range of practical and engaging applications including consumer oriented advertising, mobile ticketing and couponing, and business-to-business commercial track and trace solutions.
NeoMedia’s suite of products, services and extensive IP portfolio means it is the only provider able to offer customers a comprehensive end-to-end mobile barcode solution. NeoMedia’s current customers include handset manufacturers, platform providers, brands and agencies looking to offer mobile barcode solutions to their customer base.
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