Neonode: Strong Sell On Shell Games, Fraud Litigation And Hyping Obsolete Technology
- Neonode AB has gone bankrupt twice, and is now in its THIRD attempt to hype an obsolete IR-touch technology, and I believe facing inevitable bankruptcy again.
- Swedish court documents show NEON Exec. Chairman Bystedt faces an ongoing lawsuit alleging fraud and shell games, where investors were wiped out after bankruptcy.
- NEON management has issued over 160 promotional press releases, yet lacks material revenue after 3 years. Meanwhile, NEON insiders have made millions from stock sales and compensation.
- US customs import documents show NEON's much-touted HP printer deal has produced only $154k in estimated total revenue to NEON as of 6/9/2014.
- NEON's technology is commoditized, appears worthless and is rapidly becoming even less relevant as infrared touchscreens lose market share, while capacitive becomes relentlessly cheaper.