Neomedia Verkaufen! Kursziel € 0,09

As filed with the Securities and Exchange Commission on November 6, 2003

                                              SEC Registration No. _________
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                   U.S. SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                  FORM SB-2
           REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933



                                                                                                   
              DELAWARE                         NEOMEDIA TECHNOLOGIES, INC.                      36-3680347
   (State or other jurisdiction of           (Name of issuer in its charter)                 (I.R.S. Employer
   incorporation or organization)                                                           Identification No.)

    2201 SECOND STREET, SUITE 402                         7373                               CHARLES T. JENSEN
      FORT MYERS, FLORIDA 33901               (Primary Standard Industrial             2201 SECOND STREET, SUITE 402
           (239) 337-3434                      Classification  Code Number)                 FORT MYERS,  FLORIDA
                                                                                                 33901-3083
(Address and telephone number of                                                                 (239) 337-3434
Registrant's principal executive offices)                                               TELECOPIER NO.: (239) 337-3668
                                                                                   (Name, address, and telephone number
                                                                                           of agent for service)
                                                       With copies to:

Clayton E. Parker, Esq.                                                             Ronald S. Haligman, Esq.
Kirkpatrick & Lockhart LLP                                                          Kirkpatrick & Lockhart LLP
201 S. Biscayne Blvd., Suite 2000                                                   201 S. Biscayne Blvd., Suite 2000
Miami, FL  33131                                                                    Miami, FL  33131
Telephone No.:  (305) 539-3305                                                      Telephone No.:  (305) 539-3305
Telecopier No.: (305) 358-7095                                                      Telecopier No.:  (305) 358-7095


Approximate  date of  commencement  of proposed  sale to the public:  As soon as
practicable after this registration statement becomes effective.

If any of the  securities  being  registered on this Form are to be offered on a
delayed or continuous  basis  pursuant to Rule 415 under the  Securities  Act of
1933 check the following box. |X|

If this Form is filed to register additional securities for an offering pursuant
to Rule 462(b) under the Securities Act, please check the following box and list
the  Securities  Act  registration  statement  number of the  earlier  effective
registration statement for the same offering. |_|

If this Form is a  post-effective  amendment filed pursuant to Rule 462(c) under
the  Securities  Act,  check  the  following  box and  list the  Securities  Act
registration  statement number of the earlier effective  registration  statement
for the same offering. |_|

If delivery  of the  prospectus  is  expected  to be made  pursuant to Rule 434,
please check the following box. |_|



                       CALCULATION OF REGISTRATION FEE

--------------------------------------------------
                                        PROPOSED       PROPOSED
                                                       MAXIMUM        MAXIMUM
                                         AMOUNT        OFFERING   AGGREGATE AMOUNT OF
       TITLE OF SECURITIES               TO BE         PRICE PER      OFFERING     REGISTRATION
         TO BE REGISTERED              REGISTERED      SHARE (1)     PRICE (1)         FEE
--------------------------------------------------
                                                                             
Common Stock, par value $0.01 per       308,648,500       $0.121      $37,346,469     $3,021.33
share
--------------------------------------------------
TOTAL                                   308,648,500       $0.121      $37,346,469     $3,021.33
--------------------------------------------------


(1)     In accordance with Rule 457(c), the price represents the average of the
       high and low sale prices of the  registrant's  common  stock on October
       31, 2003, on the Over-the-Counter Bulletin Board.

THE REGISTRANT HEREBY AMENDS THIS  REGISTRATION  STATEMENT ON SUCH DATE OR DATES
AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT  SHALL FILE
A FURTHER AMENDMENT WHICH SPECIFICALLY  STATES THAT THIS REGISTRATION  STATEMENT
SHALL  THEREAFTER  BECOME  EFFECTIVE  IN  ACCORDANCE  WITH  SECTION  8(A) OF THE
SECURITIES  ACT OF  1933  OR  UNTIL  THE  REGISTRATION  STATEMENT  SHALL  BECOME
EFFECTIVE ON SUCH DATE AS THE COMMISSION,  ACTING PURSUANT TO SAID SECTION 8(A),
MAY DETERMINE.



RISK FACTORS

       We are subject to various risks which may materially harm our business,
financial  condition and results of operations.  Before purchasing our shares of
common  stock,  you  should  carefully  consider  the risks  described  below in
addition to the other  information in this prospectus.  If any of these risks or
uncertainties actually occur, our business, prospects,  financial condition, and
results of operations could be materially and adversely affected.  In that case,
the trading  price of our common  stock could  decline and you could lose all or
part of your investment.


                         RISKS SPECIFIC TO NEOMEDIA


WE HAVE  CURRENTLY  PENDING  LEGAL ACTIONS  INVOLVING OUR CRITICAL  INTELLECTUAL
PROPERTY

       On September 6, 2001, AirClic,  Inc.  ("AirClic") filed suit against us
in the Court of Common Pleas,  Montgomery County,  Pennsylvania,  seeking, among
other  things,  the  accelerated  repayment of a $500,000 loan it advanced to us
pursuant to the terms of a Secured  Promissory  Note made on July 11, 2003 and a
non-binding Letter of Intent dated July 3, 2001 between AirClic and us. The note
was secured by  substantially  all of our intellectual  property,  including the
core physical world-to-Internet  technologies.  In the suit, we acknowledged our
obligations  under the note but filed a  counterclaim  against  AirClic  seeking
damages for fraud, negligent misrepresentation and promissory estoppel.

       On October 3, 2003, we paid AirClic the principal  plus interest in the
approximate amount of $610,000, and transferred an additional amount of money to
our Pennsylvania  attorney to pay any costs including  attorney fees that we may
be required to pay AirClic for its enforcement of the note. On November 3, 2003,
we reached a  settlement  agreement  with AirClic  which will end the suit.  The
parties are  currently  drafting the release  document and expect the suit to be
dismissed by the end of the month.

WE HAVE HISTORICALLY LOST MONEY AND LOSSES MAY CONTINUE

       We have incurred substantial losses since our inception, and anticipate
incurring  substantial losses for the foreseeable  future. We incurred a loss of
$1,855,000  in the six months ended June 30, 2003,  $7,421,000 in the year ended
December  31,  2002,  $25,469,000  in the year  ended  December  31,  2001,  and
$5,409,000  in the year ended  December 31, 2000.  Our  accumulated  losses were
approximately  $72,620,000  as of June 30, 2003,  $70,765,000 as of December 31,
2002, and  $63,344,000 as of December 31, 2001. We had a working capital deficit
of  approximately  $8,872,000  as June 30, 2003,  $8,985,000  as of December 31,
2002,  and $5,163,000 as of December 31, 2001. We had  shareholders'  deficit of
$6,006,000,  $6,026,000,  and $263,000 at June 30,  2003,  December 31, 2002 and
December 31, 2001, respectively. We generated revenues of $1,548,000 for the six
months ended June 30,  2003,  $9,399,000  for the year ended  December 31, 2002,
$8,142,000 for the year ended December 31, 2001,  and  $27,565,000  for the year
ended  December 31, 2000. In addition,  cash flows used in operating  activities
totaled  $939,000  during the six months ended June 30,  2003,  $598,000 for the
year ended  December 31, 2002,  $5,202,000 for the year ended December 31, 2001,
and $6,775,000 for the year ended December 31, 2000. To succeed, we must develop
new client and customer  relationships  and  substantially  increase our revenue
derived from  improved  products and  additional  value-added  services.  To the
extent we have available financing, we intend to expend substantial resources to
develop and improve our  products,  increase  our  valued-added  services and to
market our products and services.  These development and marketing expenses must
be incurred well in advance of the recognition of revenue.  As a result,  we may
not be able to achieve or sustain profitability.


WE WILL NEED TO RAISE ADDITIONAL CAPITAL TO FINANCE OPERATIONS

       On October  27,  2003,  we entered  into a $20 million  Standby  Equity
Distribution Agreement with Cornell Capital Partners L.P. Under the terms of the
agreement,  Cornell Capital Partners has agreed to purchase up to $20 million of
our common stock over the next two years at our  discretion.  The maximum amount
of  purchases in any 7-day  period is  $280,000,  not to exceed  $840,000 in any
30-day period. For each share of common stock purchased under the Standby Equity
Distribution  Agreement,  Cornell  Capital  Partners  will pay 98% of the lowest
closing bid price on the  Over-the-Counter  Bulletin  Board  during the five-day
period  following  the delivery of a notice by  NeoMedia.  We will pay 5% of the
gross proceeds of each purchase to Cornell Capital Partners as a commission, and
$500 of escrow fees for each advance.