CHICAGO, May 10, 2017 /PRNewswire/ --
Board of Directors
2880 Zanker Road
San Jose, CA 95134
Gentlemen - In furtherance of the conference call this morning, and first quarter results, I want to strongly urge the Board to hire an investment banker to explore all strategic alternatives.
I believe, as was discussed on the call, that there are significant opportunities for Neonode's various products and technology. However, the shareholders have heard the same story for a long period of time in which management has consistently over-promised and under-delivered. It should be obvious that management should be vigilant with regard to controllable expenses, including all compensation costs. Cash/working capital must be protected.
To take full advantage of the opportunities that you have, Neonode should be part of a company that has the balance sheet to support the significant new product offerings that you have. In addition, it's clear that Neonode would benefit from additional expertise in retail marketing for Airbar.
I will be talking with other shareholders, and I personally expect that you will respond to this promptly by doing the right thing for your shareholders.
Ronald L. Chez
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SOURCE Ronald L. Chez