SBE and Neonode Announce Closing of Merger Friday August 10, 4:53 pm ET SBE Changes Name to Neonode Inc.
SAN RAMON, Calif.--(BUSINESS WIRE)--Neonode Inc. (formerly known as SBE, Inc.) (NASDAQ:SBEI - News), today announced the completion of the previously announced merger of its wholly-owned subsidiary, Cold Winter Acquisition Corporation, with and into Neonode Inc., pursuant to which Neonode changed its name to "Cold Winter, Inc." and became a wholly-owned subsidiary of the company. Following the closing of the merger transaction, the company was renamed "Neonode Inc." The newly-combined company's headquarters will be in Stockholm, Sweden.
In conjunction with the close of the merger, the Company's board of directors appointed Mikael Hagman the President and Chief Executive Officer and David W. Brunton the Vice President of Finance and Chief Financial Officer. The board also determined that a reverse spilt of the company's common stock is not required at this time.
"We are pleased to announce the completion of the merger and becoming a Nasdaq listed company. The employees of Neonode are dedicated to expanding our business and enhancing value to our shareholders," said Mikael Hagman, President and CEO. "We continue to work on finalizing agreements with several additional partners in the European market, as well as some other major markets, for distribution of our new mobile phone, the Neonode N2. In addition, we are evaluating opportunities to license our patented technologies to a number of companies," continued Hagman.
The company issued approximately 20.4 million shares of its common stock in exchange for 5.8 million outstanding shares of the common stock and the assumption of outstanding options and warrants to purchase an additional 7.9 million shares of common stock. The company's common stock is anticipated to start trading on the Nasdaq Capital Market on August 13, 2007 under the new ticker symbol "NEON."
About Neonode
Neonode is a company that designs, develops and sells patented technologies and products focused on unique user experiences (UX). With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a publicly traded company (NASDAQ:NEON - News) with licenses and products sold worldwide through both direct web sales and local distribution partners. More information is available at www.neonode.com.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties, including statements about the trading of the company's common stock on the Nasdaq Capital Market . Such statements are only predictions and the company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the company's ability to satisfy the initial listing requirements of the Nasdaq Capital Market and remain listed. These factors and others are more fully discussed in the documents the company files from time to time with the Securities and Exchange Commission, particularly, the company's most recent Form 10-K and Form 10-Q.
Contact: Neonode Inc. David W. Brunton, 925-355-7700 Chief Financial Officer davidb*sbei.com
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SBEI will trade under "NEON" Monday. NEON will be IPHONE Competitor.
This could be similar to OLAB merger when it became CPSL...it trippled in a 2 days...it tanked after that, but this could be a great play monday and tuesday. Then will see what PR's come out!!! There's great DD at TheLion.com...That's where I got my info from so I might quote some posters there...here's the link.
SBEI will trade under "NEON" Monday. NEON will be IPHONE Competitor.
President and CEO. "We continue to work on finalizing agreements with several additional partners in the European market, as well as some other major markets, for distribution of our new mobile phone, the Neonode N2. In addition, we are evaluating opportunities to license our patented technologies to a number of companies," continued Hagman.
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Well Ace.. ..I think ya might have an ACE here. It's on my very short list of stocks to buy/watch monday...
I looked over some of the info on thelion, and over a few of latest press releases, and wow.. they took a lot of time to explain away the company's sucesses on their wiki site... all in all.. If they announce that 1 major company (nokia,motorola,samsung) has decided to use NEON's touch lcd screen w/ zForce patented technology in their next gen cell phone. Then this company could very well be "the next Rambus of cellphones" - "A direct competitor to the iPhone". It's all very interesting, plus there is possibly money to be made. Big things in little China...
zForce: - Neonode removed the traditional keypad on their mobiles – instead they have an on-screen keyboard. This makes Neonode easier to use with one hand, just sweep over and tap the screen surface to access the different features displayed. Light beams form an invisible grid over the screen and finger location is detected as the beams are crossed. Neither a stylus nor any pressure is needed.
Disclaimer: All of the above is my opinion, which of course is very important to me "watch me now.."
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One of my favorite stocks Ace...Tiny float, really nice trade when it gets a little volume...Printed $5.40 AH on Friday, hopefully just the precursor to what is in store for next week...Nice to see an actual thread for SBEI/NEON...
After Hours Last: $ 5.40 After Hours High: $ 5.40 After Hours Volume: 1,800 After Hours Low: $ 4.89
After Hours Time (ET) After Hours Price After Hours Share Volume 19:49 $ 5.40 400 19:10 $ 5.40 300 19:02 $ 5.40 100 17:25 $ 4.89 1,000
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NEON the best part is no new shares, 1.6M float same as SBEI had, lock up on new shares. $10+ coming more with any distribution deals, I know non AT&T carriers will be hungry for an iphone competitor.Gonna sit back relaz and hold my shares.
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Neonode enters the Spanish market through deal with Dominion Wednesday August 29, 9:09 am ET
STOCKHOLM, Sweden--(BUSINESS WIRE)--Neonode (NASDAQ:NEON - News), the Swedish company focused on development of unique user experiences, technologies and products within the mobile phone industry, today announced it has received an important order from Dominion, one of Spain's major distributor of mobile phones, for the new Neonode N2. Source: Neonode
· The N2 is a mobile phone handset and true media player designed for advanced simplicity. You do everything on-screen, simple and convenient with just one finger. (Photo: Business Wire). View Multimedia Gallery
Neonode announced today that it will enter the Spanish market through an agreement with Dominion, one of Spain's largest distributors of products and services within the telecommunication sector. Through the deal with Dominion, Neonode will get direct distribution of the new Neonode N2 to both retailers and operators on the whole Spanish market. Neonode N2 will be distributed in Spain from September on.
"Reaching an agreement and forming alliances with companies who provide unique products like Neonode is an important part of our strategy. We are excited about starting this project and we are sure we will have great results," Said Carlos Gonzalez, Purchasing and Marketing Manager of Dominion Logistica.
Neonode was previously this year named to the annual FierceWireless "Fierce 15" list, designating it as one of the top wireless companies of the year. The company recently launched Neonode N2 in south-eastern Europe and also on its own web shop, and is currently finalizing additional agreements with several partners in Europe and other major markets.
"Spain is one of the most important markets in Europe in terms of size, trends and adoption of new technology. To partner this important market with such a powerful player like Dominion is a major milestone for Neonode. We expect great results from this partnership," said Mikael Hagman, President and CEO of Neonode.
Neonode was recently listed at the NASDAQ stock exchange. The trading of the company's common stock was initiated on the NASDAQ Capital Market on August 13, 2007 under the new ticker symbol "NEON."
About Neonode
Neonode designs, develops and sells patented technologies and products focused on unique user experiences (UX). With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a publicly traded company (NASDAQ: NEON - News) with licenses and products sold worldwide through both direct web sales and local distribution partners. More information is available at www.neonode.com.
About Dominion
Dominion applies and develops technology in order to adapt it to the specific needs of its clients, and to be a keystone to secure maximum profitability in their projects and business. It reaches activities like Engineering services, Consumer Electronics Distributions or Biotechnology. Dominion team is made of 1.500 employees who create value in Spain, Mexico, Brazil or Chile. You can visit us at www.dominion.es.
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Neonode Signs a Multi-Country Distribution Deal With A&C Systems Wednesday October 24, 10:30 am ET
STOCKHOLM, Sweden--(BUSINESS WIRE)--Neonode (NASDAQ: NEON - News), the Swedish company focusing on the development of unique user experiences, technologies and products within the mobile phone industry, today announced it will launch Neonode N2 in Belgium, the Netherlands and Luxemburg (Benelux) together with A&C Systems. ADVERTISEMENT
“We strongly believe in technology and design and are always in search of new products with these characteristics. Neonode offers us this perfect combination with the unique N2. We are therefore very happy and proud to be able to distribute this product in the Benelux really soon! We believe that we can make the Neonode N2 such a great success, in cooperation with all our partners, operators (Belgacom & KPN etc) and retailers (The Phone House, Bel Company, t for telecom, Dixons etc), so that ‘sweeping’ becomes a real hype by the end of this year,” said Bruno Lisen, Co-Founder and CEO A&C Systems.
Through the deal with A&C Systems, Neonode will get direct access to the whole distribution network of A&C Systems in Belgium, the Netherlands and Luxemburg. Neonode N2 will be rolled-out to the Benelux consumers starting in the second half of November.
”The Benelux market has a large number of consumers with well known players such as KPN, Orange, Vodafone, The Phone House, MediaMarkt active in the market. It is therefore important for us to have a partner that has a wide distribution reach and good understanding for how to most effectively market and create sell-through of our device. A&C Systems has a proven track record of marketing other brands and we are very delighted to announce our partnership with them today,” said Per Hellberg, Vice President of Sales at Neonode.
In August this year Neonode N2 was launched in its first market, Greece. Today it is also available in Spain, Portugal, Cyprus and via Neonode´s own web shop. Launches are set for Sweden, Benelux, Hungary and the Czech Republic during November. Introduction to additional markets are planned during the rest of this year and beginning of 2008.
For more information:
Mikael Hagman, President and CEO Neonode Tel: +46 8 678 18 50
Daniel Stålbo, Marketing Director Neonode Tel: +46 8 678 18 50 About Neonode
Neonode designs, develops and sells patented technologies and products focused on unique user experiences (UX). With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a publicly traded company (NASDAQ: NEON - News) with licenses and products sold worldwide through both direct web sales and local distribution partners. More information is available at www.neonode.com.
About A&C Systems
Founded in 1991 by Jan Cools and Bruno Lisen, A&C Systems is a Benelux telecom distributor, based in Hoegaarden (Belgium) and Eindhoven (The Netherlands), specialised in the distribution of mobile phones and accessories, carkits, installation equipment and portable GPS devices. For more information, visit www.ac-systems.com.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties, including statements regarding future projected sales transactions. Such statements are only predictions and the company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the ability of Neonode and A&C Systems to sell products to end users. These factors and others are more fully discussed in the documents the company files from time to time with the Securities and Exchange Commission, particularly, the company's most recent Form 10-K and Form 10-Q.
Neonode and the Neonode logo are registered trademarks of Neonode Inc. All other brand or product names are trademarks or registered trademarks of their respective holders.
Contact: Neonode Mikael Hagman, +46 8 678 18 50 President and CEO Daniel Stålbo, +46 8 678 18 50 Marketing Director
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