written by reader Billionaire Tech genius must know something!

by doncroc | March 21, 2012 6:54 pm

Recent SEC report shows a 10% holding in Neomedia (Neom.OB) by a man whose resume can be found at http://www.google.com/search?client=safari&rls=10_6_8&q=Patrick%20Soon-Shiong&ie=UTF-8&oe=UTF-8[1] . Stock has been trading 200 million shares plus for many days now and the price has wavered from .01 to .06 (Currently .033) If you can find a more impressive resume than Patrick Soon-Shiong i would be surprised. Any thoughts?

Endnotes:
  1. http://www.google.com/search?client=safari&rls=10_6_8&q=Patrick%20Soon-Shiong&ie=UTF-8&oe=UTF-8: http://www.google.com/search?client=safari&rls=10_6_8&q=Patrick%20Soon-Shiong&ie=UTF-8&oe=UTF-8

Source URL: https://www.stockgumshoe.com/2012/03/microblog-billionaire-tech-genius-must-know-something/


2 responses to “written by reader Billionaire Tech genius must know something!”

  1. streetstylz says:

    NeoMedia has over fifty issued and pending patent applications related to a wide range of mobile territory; from using a mobile phone’s camera to retrieve information from 1D and 2D barcodes, to RFID chips, to NFC and more. NeoMedia currently licenses their patents to eBay, Neustar, Scanbuy and others.

  2. It’s a promoted penny stock, which almost always ends badly for investors — though some traders can nimbly squeak some gains out of them. Soon-Shiong is a billionaire philanthropist (he used to be a biotech researcher and executive, co-developer of Abraxane) and I suppose it’s possible that one of his venture firms or foundations bought some shares of NeoMedia (I haven’t checked the accuracy of that), but do note that, if so, it’s unlikely that he would have any expertise on this particular company or that he would care about a few million dollars that was invested in this stock. The company itself is valued at just $13 million, which means there’s really no point in them being public except as a vehicle for promoters to play with the shares, most such companies either never amounted to anything, or fell on very hard times and are limping along. He could buy the entire firm for pocket change if he so desired, as could anyone in the business who thought their patent or their technology would become significant.

    I’m sure you can find all the positive info on them online — folks are paid to distribute it, so it’s easily located — so I’ll just issue that note of caution above. Don’t know the company, but with promoted tiny companies like this it’s rarely worth your time to learn.

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