Transatlantic duo produces universal 2D handset scanner
Rating: anyone every heard of public service?
NeoMedia Technologies of Fort Myers, Florida and its wholly owned subsidiary, Gavitec of Aachen, Germany have today unveiled their jointly developed, code-reading application. It is designed to turn a camera phone into a 1D and 2D barcode scanner that provides one-click access to mobile content.
And? NeoReader will enable users to scan “1D or 2D barcodes from participating products’ packaging, ad campaigns, retail displays, publications, or any variety of medium” (media, presumably). Users will be able to link directly to a web page, access services, retrieve real-time information, or place orders, bypassing, search engines and menus.
The NeoReader is free to download during its introductory period to at www.neoreader.com. OK. Stop the tape there? The company really thinks that consumers are gonna PAY for this at some time in the future?
Yes, allegedly NeoReader can scan Data Matrix codes, QR codes, Aztec codes, as well as boring old 1D barcodes, and Gavitec`s code reading technology, Lavasphere, has previously been employed in to recognise the Data Matrix codes used in the BBC’s Coast Mobile project as well as in other public trials in the UK, but that’s not the same as getting money out of people, is it? We’d expect public service organisations to set it up so that we don’t pay on this side (European side of the Atlantic) and on the other hand, why would be pay so that we can access commercial enterprises’ promotional stuff?
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Neomedia is a virtually bankrupt company that is currently in default on nearly $30 million in outstanding debentures to a vulture capital firm f.k.a Cornell Capital.
The company has recently witnessed all but one of it’s executives and members of the BOD depart after years of managing the company into the ground, destroying shareholder value whilst cashing in stock options and pulling down an “upper class” salary.
The company is operating with a skeleton crew and likely to relocate its headquarters to Atlanta, GA.
For a “technology company”, spending on R&D has nearly uniformly been the smallest line item on the expense portion of the company’s income statement.
Previous management missed countless opportunities to drive adoption of the firm’s proprietary barcode reading process by remaining closed source.
This is a largely smoke and mirrors company with a vociferous following of stuckholders, er, shareholders.
Neomedia is a virtually bankrupt company that is currently in default on nearly $30 million in outstanding debentures to a vulture capital firm f.k.a Cornell Capital.
The company has recently witnessed all but one of it’s executives and members of the BOD depart after years of managing the company into the ground, destroying shareholder value whilst cashing in stock options and pulling down an “upper class” salary.
The company is operating with a skeleton crew and likely to relocate its headquarters to Atlanta, GA.
For a “technology company”, spending on R&D has nearly uniformly been the smallest line item on the expense portion of the company’s income statement.
Previous management missed countless opportunities to drive adoption of the firm’s proprietary barcode reading process by remaining closed source.
This is a largely smoke and mirrors company with a vociferous following of stuckholders, er, shareholders.
1D UPC codes boring? LOL, not in the least.
1D UPC/EAN barcodes are the holy grail of mobile code reading technology.
If I am Pepsi and I do not want an extra 2D code printed on my can/bottle packaging, and I would prefer to activate the standard UPC barcode that has been synonymous of my product packaging for ages, which mobile code reading company is going to accommodate me?
Now while it would not be very difficult to replace UPC/EAN codes with an equivalent 2D code on all packaging, the question is, will the commercial users (manufacturing, wholesale, and retail) change hardware to read them?
I am of the opinion, that UPC codes are going to remain the standard barcode for a very long time. The Uniform Code Council has mandated all retail systems be able to recognize both UPC and EAN. Additionally, the International Standards Organization has yet to render the UPC obsolete, and that its eventual phase-out may not happen until 2020.
There are over 5 billion unique UPC barcodes and billions of individual items/brands representing trillions of physical world hyperlinks waiting to be connected to the Net.
thank-you this is some great debate - is the NeoMedia really in trouble? I have heard rumours but the sales of all the additional companies should have helped?
Also isn’t barcode technology the next big thing?
Hi Bena,
Yes NEOM is in deep trouble financially going forward. The sale of most of the subs was at huge multi million dollar losses, and their operating expenses far exceed their quarterly revenue. They have an outstanding payment due 12snap of 4.6 million dollars, due by 31 Dec 2007, and no cash on hand to operate going forward.
Therefore they have been borrowing from Cornell/YA at ridicules interest rates and fees, and at this time, based on last quarters numbers are broke and will have to go borrowing again.
They still have 2 subs up for sale, and in the last quarter CC they stated both were to close by the End of September, and net NEOM 3.5 million, yet we are approaching the end of October and still no closing, the shareholders are aware of.
Neomedias core technology last quarter produced about 100,000.00 revenue when you exclude the Gavitec revenue, and even though as you suggest bar code technology is the next big thing, its still to far away in producing significant revenues to be of much help to NEOMs finances in the near term. Even in the EU where this technology is beginning to catch on now, mass adoption is at least a year away, based on the limited progress and trials that have been announced to date.
I am not sure what the posters of these responses are saying, but Yorkville advisors have been a HUGE supporter of NEOM for years… Yes they are excellent businessmen in protecting their investment with skilled financal instruments, but have never excluded one party, not one, from investing on the same terms as they.. what is vulturistic about that?… If people had only the resources to make one bet on an emerging technology company and had no dry-powder for follow-on investing then they are not experienced in the reality of emerging technology investing… Equity investing is based on future value, and i believe the future is bright for NEOM based on the value of its service offering and its complete support for open standards and inteoperbility.
NEOM’s move to ATL with brands lke Coca-cola, UPS (leader in mobil barcode technology), Home depot, Delta airlines, and home to North America’s largest GSM operator ATT, etc. is a bad move? not to mention it operates the worlds businest air port (think mobile tickets)… i have been vey puzzled by the the critism launched at NEOM.. I have been with the company only 6 moths and already am finding that the comments are getting “old and tired”… At least provide constuctive critism on what we are doing now so I can work on fixing it too.. Best
William it was lovely meeting you and thanks for your feedback. I suggest we get together and move forward. Lets talk vision and I will write it up for our 2.0 Analyst and a lighter version for GoMo News. Thanks again for the time at CTIA. Bena
Chip, great post. Please don’t mind the naysayers, as there are way too many undercurrents involving this burgeoning and nascent technology which have and will continue to cause people to do and say things for motives which are suspect at best. Keep your eyes on the prize and and bring us home a winner, as I for one trust in your buisness acumen and honorable sense of duty to this company and its many proud shareholders. Houdini
Mr. Hoffman,
Thank you for taking the time to post a response.
On behalf of the entire NeoMedia shareholder community, we wish you nothing but the best in your role as CEO, and we look forward to a
great end to 2007 and beyond. The sky is the limit for this great company, and under your leadership, we hope NeoMedia becomes the amazing success story we all know it is destined to be.
Best regards,
Sean
I have been watching these two companies on the Pondering Primate blog. Scanbuy and Neomedia. I still fail to see how Scanbuy can produce anything in the future if they are giving away their platform to be noticed. Where are their revenues posted? Neomedia on the other hand even with the financial position they are in, IMO, must have a huge revenue stream coming up. Heck, Neomedia even announced 1 year in advance they would be cash flow positive by end of first qtr on a conference call. It is refreshing to see William Hoffman post anywhere to defend some of what has been told about Neomedia. It is starting to look like the PWC company should start to be crowned. What other mobile platform reads QR, DM, 2D, and, 1D. I think that Sean had it right about giving the manufactures the ability to read from a 1D barcode already on their products.
Neomedia covers mobile interaction with RFID too. Here is a little fact pulled from the web: 10 billion wireless electronic tags are about to impact manufacturing, distribution and retailing now that Walmart, Tesco and Pentagon are requiring future suppliers to tag products.
That is a lot of physical world interaction with one mobile reader.
Keep it up William Hoffman. I am expecting to see a lot of new things happening from the “NEW” Neomedia.
P.S. as Brewski would want it, full disclosure, looong time share holder.
Mr. Hoffman: Thank you for the comments. As a long time shareholder, it has been a tough couple years watching my investment fall to the level it is now. You have brought some strength, focus and organization back to this company and therefore, some hope to all of us holding shares. It will be interesting to see if you can bring this company to a prominent place in the new world of pwc. I think you can. Good luck and please let us keep hearing your thoughts and comments. Chris
All I can say to Mr. Hoffmans confusion about certain posts is, I speaking for myself, responded to a question by the moderator of this forum, concerning Neomedia’s financial situation.
I see in all of the subsequent responses, none of the facts I posted have been disputed by anyone including the CEO of the company that the moderator inquired about.
I for one believe that full disclosure in these forums, which many rely on for DD on their investments is a very good thing. Some can call it negativity or whatever, but to many others its called reality.
I will say I don’t hide behind multiple alias’ on different forums such as the likes of Houdini or Swampthing, and try to present just the facts as I know them or believe them, and let anyone with opposing facts, dispute me based on the information, and not by personal attacks suggesting I have suspect motives etc. Maybe those using the multiple names are the ones with suspect motives right JP or Houdini?
As a follow up to my prior post here, One of the subs did just complete their closing again at what appears to be big losses to NEOM the parent company, and should add some short term liquidity to the company.
brewskih
Since you state, “I for one believe that full disclosure in these forums, which many rely on for DD on their investments is a very good thing. Some can call it negativity or whatever, but to many others its called reality.”
So in the interest of full disclosure, I will refer to you by your real name,
Don’t lie about hiding behind multiple alias’ on different forums. After getting kicked off iHub, you tried to sneak back on last month with the screen name ”
You were very nice and polite when you called into the last NEOM shareholder conference call. A far cry from your true character and the proverbial smear campaign you continue to elicit on news websites, blogs, and message boards.
Nice try Streetstylz. I think you claim to be intelligent, and you know that full disclosure of a public company, is different then your supposed full disclosure of someones personal information. Of which you have no consent to disclose and is illegal in the US right?
But its funny how you employ that illegal tactic, every time you cant dispute the facts of an individual.
Boys, boys boys.
I don’t know who any of you are but you all seem to be investors - GoMo News needs advertisers and money - so if you like the site and you all have a lot of energy please send some angels our way.
thanks bena
check out this message left on a different message board for a different stock and you will see a consistant pattern of manipulation..
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_%23/threadview?m=tm&bn=28012&tid=106921&mid=106997&tof=-1&rt=1&frt=2&off=1
follow the trail and it will put him in jail.
now read this one..
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_%23/threadview?m=tm&bn=28012&tid=106002&mid=106007&tof=-1&rt=1&frt=2&off=1
If indeed the 1D codes can be read without an extra lens it is a real good piece of software. So far I only know 1D codes are read without lens on the Nokia N95 with autofocus function. So what phones are supported for this?
Cheers, Ron
80 handsets supported and not mine…. even not the N95. For instance OP3 supports 250 handsets (could not find Scanbuys figures).
So what is the businessmodel for this? Is the barcode routed through the Neom server after scanning? Is the manufacturer or other party involved pay per scan like a lead generating fee…
Ron
Yes the bar code is routed through NEOM’s servers after its scanned. NEOM’s patented PROCESS requires that such an action take place. Their patented process, does not involve taking a picture of a bar code with a URL embedded, that will take you directly to a web site.
Their patented process requires that the bar code have a special identifier in it, that can only be matched up to a URL in their server. Once their server matches that identifier to a URL that URL is then sent back to your cell phone browser to take you to that web site.
That is what NEOM patented, a specific process. They did not patent taking a picture of a bar code with a camera and going directly to the URL embedded in that bar code.
The bar code with a URL directly embedded into it, is called a direct process, because you take the picture, and your phone alone takes you directly to that web site.
The NEOM patented process is called indirect process, because you have to take the picture of the bar code, which only has an identifier in it such as the number 123 might in their data base match up to Mazda’s web site, if Mazda paid them a fee to add them to their data base. So then they would produce a code with the number 123 in it for Mazda to put on their promotions. When you take the picture of the code its sends the number 123 to NEOM’s data base, where it searches for that number and it finds the web address assigned that number is Mazda. It then sends your phone that web address.
The NEOREADER just released is supposed to work with both types of codes, direct and indirect, also known as open source and proprietary. But the function that reads the open source codes would not be a part of their patented process. It would just be an added feature to the code enthusiast.
Ok thanks for the explanation. This means when you are able to scan any code Neomedia has to connect all codes to its server (!) or people should start develop themselves. Btw. the guys from OP3 also work with the server inbeteen but do not infringe Neomedia’s IP.
call me a fool but I have shares in Neomedia and I hope like hell the shares will go up, but with all the negitive talk from you people about Neomedia why the hell would people want to invest in this company. We are all losing money here, maybe we can try saying positive thinks about the company and others will want to buy shares and great thinks may happen
What the hell is the matter with you people? How the hell do you expect NEOM stocks to go up when your selling at 1 cent
can some one out there tell me if neomedia is going to do a reverse stock split and if so how many stocks for how many.