Neonode AB ist Bankrott - Neonode Inc besteht weiterhin !!!

UPDATED "Without sufficient funding, we can not continue operations." Contractor Per Bystedt give up trying to sell its own mobile but continues to license its touch screen technology in the United States. Has he not the order of liens that hovers so also the Nasdaq-listed parent company in danger.
Realtid.se has sought Per Bystedt.

Under the Tuesday put the Swedish handset manufacturer Neonode AB in bankruptcy by the Stockholm district court. A couple of dozen employees in Stockholm that have not already left the company terminated because of redundancy.

- During the last six months we have focused on to improve the operations and resolve the financial situation in Neonode AB. We still believe strongly in our technology and we believe that we in the Neonode N2 has a competitive product, but without adequate resources, we can not continue operations.

It says CEO Per Bystedt, who had invested millions in the company, in a press release.

The article continues below

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On October 22, Neonode AB launched a reorganization of the company.

"Administrator Anders Nilsson W is being replaced by the bankruptcy administrator Hans period from Chord Finland who met Per Bystedt on Tuesday.

- He thinks it is sad to not be able to carry out reconstruction.

Per Bystedt wanted to set off claims for new shares in a last issue. Realtid.se has previously held that the offer was cold hand of several Swedish suppliers. Per Bystedt felt abandoned.

- There were many creditors that have not even heard of on request from the company, "said Hans destinies.

The manufacturer Balde has sold its stocks of finished N2 phones in Malaysia. Thus is the largest asset item in Neonode AB away.

- Had it happened in Sweden, it would have been recycled. Now I do not know if it had pantrrätt. Even if you had it, so it is unlikely that we could have run a process, "said Hans destinies.

In addition, there are inventories of India and Scotland, but there is no money in the estate to take home phones.

No one has shown interest to take over the business or to buy out assets from the bankrupt estate.

Parent company Neonode Inc. will continue to try to sell licenses for touchscreen technology zForce in the United States. Neonode states that the intellectual property rights are in the parent company. If papprena is not in order, so it can prove that it is actually bankrupt estate that owns the technology. It would also mean the end of Neonode Inc.

- If the deposit is not valid as ports its intangible assets in Neonode AB. I have to look at it properly, "said Hand destinies.

- There are no indications that it would not be okay.

Neonode Inc. are now negotiating with "a large owner" to build up business again.

All support and maintenance will stop, says press officer Karin Lehman. Still, "We will do our best not to let customers down."

Sehr geehrter Herr xxx,
vielen Dank für Ihre E-Mail an Neonode Kundensupport.
Eben habe ich mit meinem Vorgesetzten gesprochen und er hat mir mitgeteilt, dass unsere Lage nicht so schlimm ist, durch unseren Webschop nehmen wir weiterhin Bestellungen auf. Zur Zeit haben wir einige Schwierigkeiten, aber wir sind stabil und können die Handys auch in der Zukunft reparieren lassen.
Bei weiteren Fragen oder Problemen stehen wir Ihnen gerne zur Verfügung.
Mit freundlichen Grüssen

Neonode Kundensupport

Thousands Neonode phones remain in the manufacturer's warehouse in
India and Scotland. After the bankruptcy, it is unclear what will
happen to them. There is considerable risk that stock owners do not
release the phones before Neonode paid their debts. And the company has
not afford, according to the bankruptcy trustee.

On Tuesday came
the announcement that the Swedish mobile manufacturer Neonode go
bankrupt. The following have been in reorganization proceedings since
Oct. 22.

The trustee Hans Öden has not had time to go through
the company's entire economy yet, but that debt is much larger than the
assets is already clear.

A portion of the assets are tied up in
inventories of mobile phones in India and Scotland. That's the
Neonodetelefoner who come onto the market since the spring of 2007 but
not yet found buyers.

According to Hans Öden, it is a thousand telephones, which now no one knows what will happen with.

- They will remain until further notice, there is no money. There is a cost for Neonode bringing home phones, "he said.

Hans
Öden has not had time to review the contracts as suppliers in India and
Scotland have with Neonode in detail, but it will be his task as the
bankruptcy trustee to try to get home phones.

- I will take care
of the assets are and make sure to get back the phones at a reasonable
cost. I can assess whether they go to sell. The question for me is what
it is for costs associated with that I have them in my possession.

The
company that stands for stocks in Scotland have not been paid for the
expenses they had. A real danger is that stock companies refuse to
release phones unless Neonode first pays its costs. Hans Öden
describing it as the phones are kept in safe custody until claims are
paid.

- The company in Scotland has handled some of the sales so it is personnel costs and inventory costs, "said Hans Öden.

Hans Öden estimates the costs to a hundred thousand crowns, money Neonode do not currently have.

- My assessment is that the net comes into the bankrupt estate, it is peanuts, "said Hans Ödman.

Should the situation arise, the bankrupt estate have to try to find another buyer for the phones.

-
If there is no money, so it must be financed by another buyer. Then we
have to wait until we get a buyer for it, and then we can make a deal
with the supplier - that they get their money when I have a buyer.

In India the situation is different. There are phones from Neonode which is not complete yet.

-
Flash cards are not embedded. It will cost money for the bankrupt
estate to take home even the phones, "said Hans Oden, although there is
no question of debts to the staff.

The reason for handsets fell
in India was a decision to invest in sales in the country that was
taken by Neonode management on a previous occasion.

- It was supposed that they would be sold in India, but they have not been sold.

The reason for Neonode finally forced into bankruptcy was that the money simply ran out, according to Hans node.

-
Neonode was of course during the reorganization and tried to get
claimant to convert fodringarna to shares in the company. But many do
not even responded to the offer, "said Hans Öden.

- But the underlying problem was that it was sold for some phones, otherwise it would not have been any problem, "he said.

Hans Öden will now try to get business sold.

-
There is a phone that is interesting in the market technically and it
may well be of interest to pursue it further. It is not the best time
to sell now. On the other hand, there are some venture capitalists who
might be interested.

Neonode Swedish company has 20 employees, who now becomes redundant in connection with the bankruptcy.

Neonode Ceases Handset Biz
By Evan Koblentz
WirelessWeek - December 12, 2008


Smartphone
company Neonode declared bankruptcy in Sweden, is exiting the handset
business and will refocus on licensing its touchscreen technology,
officials announced this week.
The company, based in Stockholm, planned
to sell its N2 device through an unspecified U.S. carrier in the second
quarter of this year. But the plan didn’t work. Only about 20,000
phones were sold worldwide through Neonode’s Website, CFO Dave Brunton
said today.
Neonode now has 10 employees, down from a peak of 45. But, “we
thought, and I still think, we have a really cool phone. We have a
tremendous touchscreen technology. It’s optical infrared,” so it can
work with gloves and isn’t affected by extreme temperatures – unlike
the capacitive touchscreens used in devices such as the Apple iPhone
and Research In Motion BlackBerry Storm, he noted. Optical infrared
screens are also less expensive, he added.
Target customers in 2009 will include Asian original equipment
manufacturers, he said. Beyond that, he noted, “virtually anything that
has a mechanical switch or a button on it can be a touchscreen device.”

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Neonode Announces Receipt of NASDAQ Non-Compliance Letter

STOCKHOLM, Sweden, Dec 15, 2008 (BUSINESS WIRE) -- Neonode (NASDAQ: NEON), the Swedish technology company that develops touch screen technologies, today announced that on December 11, 2008 the Company received a Nasdaq Staff deficiency letter from The NASDAQ Stock Market Listing Qualifications Department stating that it has not paid certain fees required by Marketplace Rule 4310(c)(13) (the "Rule"). The Company's past due balance currently totals $43,615.08. The notice further states that the Nasdaq Listing Qualification Panel ("Panel") will consider this matter in rendering a determination regarding the Company's continued listing on the NASDAQ Capital Markets. The Company has until December 18, 2008 to present its views with respect to this deficiency to the Panel. About Neonode Inc. Neonode Inc. specializes in optical finger-based touch screen technology. Neonode's mission is to enhance user experience related to any consumer or industrial device that can benefit from a finger-based touch screen solution. Neonode Inc. is a publicly traded company (NASDAQ: NEON) with offices in Stockholm, Sweden and San Ramon, USA. For more information, visit www.neonode.com. Forward-Looking Statements This news release contains certain forward-looking statements that involve risks and uncertainties, including statements regarding future products and technology developments. 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 to develop and sell new products and technologies. 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. SOURCE: Neonode Neonode David W. Brunton, CFO, 925-355-7700

Neonode Announces Receipt of Notice of Delisting From the Nasdaq Capital Market SAN RAMON, Calif.--(BUSINESS WIRE)--Jan. 5, 2009--Neonode (Pink Sheets:NEON), the Swedish mobile communication
company that develops touch screen technologies today announced that on
December 30, 2008, the Company was notified by the staff of the Nasdaq
Stock Market that the Nasdaq Hearings Panel (the "Panel") has determined
to delist the shares of the Company from the Nasdaq Stock Market and to
suspend trading effective at the open of trading on Friday, January 2,
2009. Effective January 2, 2009, the Company's shares began trading on
the Pink Sheets under the symbol "NEON.PK".

The Panel determined that the Company failed to regain compliance with
the Nasdaq continued listing standards by December 29, 2008, and that
the Panel did not have the authority under the Nasdaq Marketplace Rules
to continue the Company's listing. Specifically, the Panel determined
that as of December 29, 2008 the Company did not comply with Marketplace
Rule 4310(c)(3), which requires a minimum stockholders' equity of
$2,500,000.

The Company intends to appeal this decision to the Nasdaq Listing and
Hearing Review council because, as of the date of this Press Release,
the Company has regained compliance with the stockholders' equity
requirement. In parallel, the Company is in the process of transferring
the quotation of its common stock to the OTC Bulletin Board (the
"OTCBB"). The Company is in the process of working with one of its
market makers to file a Form 211 with the Financial Industry Regulatory
Authority ("FINRA") to seek clearance to quote the Company's common
stock on the OTCBB. However, no assurance can be given that market
makers currently making a market in the Company's common stock will
continue to make a market in the Company's common stock or that the
Company's common stock will continue to be eligible for quotation on the
OTC Bulletin Board. The Company intends to request that current market
makers continue to make markets in the Company's common stock on the OTC
Bulletin Board and/or the Pink Sheets, as the case may be.