Local.com aussichtsreich

http://www.sharedeals.de/2015/06/...tasien-sorgen-fuer-kursspektakel/  

obwohl die Abwicklung nicht ganz einfach sein dürfte, das Yext noch nicht börsennotiert ist.

My favorite for a merger is Yext - Yext can double the revenues with a buy of Local Corp and has a high interest on Local Corps Pay Per Call-Patents and Yext is a partner of Local Corp since years

Yext earns revenues through a subscription-based model. Prices vary from $149-$499 a year based on the number of websites and pages that a business wants to manage through their application. The company does not disclose detailed financials. Recent reports reveal that revenues have improved 62% over the year from $34 million in 2013 to over $55 million in 2014.
Yext Planning IPO Soon

Jan 14th 2015

Continuing with our analysis of Billion Dollar Unicorns, here is a digital advertising start-up Yext, which is yet to hit the billion dollar valuation mark. Its stellar performance does make it a potential Unicorn.

According to eMarketer, the global spending on ads on Internet-connected devices including desktops and mobile devices were estimated to grow 15% over the year to $137.53 billion in 2014. Digital ad spend was estimated to account for just over 25% of all paid media spending worldwide compared with 20% in 2012. Overall digital spending is expected to grow to $204.01 billion by the year 2018.

Since inception, Yext has been able to make significant progress in pay-per-call advertising, business listings synchronization, and local marketing cloud segments. Their platform helps small businesses and brands manage location data across more than 50 search engines, location mapping services, and on social media like Facebook. Through their tools, local businesses can make changes to a single source of information such as adding photos and media and those changes are updated to multiple digital sites that the business may have.

Additionally, their advanced analytics solutions provide metrics for each of the business listings in real-time. Businesses are able to select metrics to identify strategies that deliver results and track, assess, and adjust marketing activities for increased reach and impact.

Today they have customer listings of over 400,000 businesses and help make millions of monthly updates across more than 85 digital platforms.
 

inzwischen sehr niedrig, denn das sind gerade einmal 1.000 Euro:

Local Corp Aktie

WKN: A1J4TP

ISIN: US53954W1045

Symbol: LOCM

Typ: Aktie

Aufnehmen in Watchlist/Depot

Times & Sales: Stuttgart

Zeit


Kurs  Stück  
16:59:58  0,061 €  
0  

16:41:30  0,059 €  
0  

16:08:13  0,059 €  
0  

16:07:32  0,059 €  
15.000  

15:33:32  0,059 €  
0  

14:47:44  0,06 €  
0  

11:49:58  0,06 €  
0  

08:00:11  0,06 €  
0  
 

und hoffe daher, dass er auf dem Yahoo-Board mitliest, was als Konkursrichter ungewöhnlich wäre, wenn er das nicht täte:



What I want to tell Honorable Scott C. Clarkson (because my mails come back and can't be delivered)
.

Honorable Scott C. Clarkson

United States Bankruptcy Court
Central District of California
Ronald Reagan Federal Building and Courthouse
411 West Fourth Street, Suite 5130 / Courtroom 5C
Santa Ana, CA 92701-4593
Manipulations of the Mangement of Local Corp

Local Corp should manage the daily business, but the judge should give an order in one point: the sale of the 14 patents and Krillion. But Local Corp should tell the judge which of the 14 patents were needed for offers of Local Corp - for this patents a license for free for Local Corp should be part of the sale-agreements like it Local Corp did, too, three years ago by the sale of Rovion.

I am sure, that Local Corp can buy back all it’s debts with the proceeds from the sale of the 14 patents.
Maybe the Unites States Trustee

Nancy s Goldenberg
411 W Fourth St Ste 9041
Santo Ana, CA 92701-8000

can help the management to sell the 14 patents for a fair price and add agreements for a free use through Local Corp, like Local Corp it made by the sale of Rovion.
I am since years one of the biggest private owner of shares and had all shares bought over a lot of years and all before the bankrupty – I am owning 133,300 share = more than 0,5% of the outstanding shares and had posted over years on the Yahoo-board (last under the ID Stannguru).

After my estimates was the offering of convertible bonds in March and the bankrupty not necessary, if the management had sold the not needed assets – after my estimate it was a planned bankrupty to robber the assets of the company and the shareholders. I had told this the SEC, too.

Near 50% of the employees worked over years in the development and developed with the money of the existing shareholders valuable 14 patents, a lot of valuable platforms and other technology. The target of the management is now, to steal this assets through not needed financing and last through filing of Chapter 11.
 

Developments with the money of the existing shareholders like in the last 15 years too

Technology, Research and Development (Source: 10-K): Our research and development expenses were $5.7 million and $6.6 million for the years ended December 31, 2014 and 2013, respectively.

The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare situation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.

But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.

If Local Corp had done such a capitalisation, the difference between assets and debts would be a lot higher than the amount of 12 million.

United States Bankruptcy Court for the Central District of California and/or the US-Trustee should overtake the only positive part of the convertible bond-agreement: Sale of the 14 patents and Krillion.

Part of this cnvertible-bond-agreements was a sale of Krillion (including one patent) until 06/2015 and of the other 13 patents until 12/31/15.

Part of the agreement about the sale of the 14 patents could be, that Local Corp could for offered products use some of this patents for free or against a fee.

United States Bankruptcy Court for the Central District of California should hurry with the overtake of the sales and and pay back with the proceeds the debts and reserve some money for a small cash of a ongoing company Local Corp.
 

Fred Thiel should report soon and the SEC should take a look at this criminal non-information over a long time


“While we continue to focus on increasing operating efficiency, reducing costs and driving profitable growth throughout the organization, in light of recent indications of interest, we believe now is the right time to explore strategic alternatives that have the potential to generate increased value for our shareholders,” said Fred Thiel, Local Corporation chairman and CEO. “We look forward to working with Siemer & Associates to help us evaluate the best strategic avenues to maximize the value of our business and support the continued growth and well-being of our rapidly expanding global mobile search footprint and proprietary global mobile ad network.”

Local does not have a defined timeline for the strategic review process and is not confirming that the review will result in any specific action or transaction.

The SEC, the Judge, the US-Trustee and the existing shareholders need an information from Fred Thiel, Kenn Cragun and Scott Reinke, if the 14 patents of Local Corp was offered in the Patent Purchase Promotion from Google, because it were criminal, if Scott Reinke had not used this effective and cheap occassion.

Google-Offer: Today the search giant unveiled a program it’s calling Patent Purchase Promotion, a new marketplace where patent holders are invited to tell Google about patents they’re willing to sell, at a price they themselves have set. The marketplace will be open from May 8 to May 22, according to the company, and Google will let submitters know whether it’s interested in purchasing their patents by June 26, with most payouts happening by late August.
 

http://www.bloomberg.com/research/stocks/...nsactions.asp?ticker=GOOG

Zu den liabilities müssen meines Erachtens alllerdings noch weitere ca. 12 Millionen Kredite hinzugerechnet werden (Wandelschuldverschreibungen und Bankkredit).  

"The debtor listed its assets of $36.07 million and liabilities of $8.84 million."  

Liabilities (31/3/2015)
Current Liabilities
Accounts Payable 12,864
Short/Current Long Term Debt 5,617
Other Current Liabilities 205
Total Current Liabilities 18,686

Warum Local Corp in Liquiditätsschwierigkeiten kam, ist hier leicht erkennbar, denn die Current Liabilities und Other Current Liabilities wurden von zusammen ca. 13 Millionen um 4,4 Millionen auf 8,6 Millionen gesenkt - so etwas macht man gezielt, was für meine These vom geplanten Chapter 11 spricht.

Bankschulden stecken zwar in der Bilanz auch in den liabilities, sind aber meines Erachten nicht in den 8,84 Milllionen in #8858 enthalten.

Und wenn der Konkursrichter nicht als kleines Kind zu heiß gebadet wurde, wird er wohl nicht zulassen, dass die unter obskuren Umständen enstandene Wandeschuldverschreibung dazu benutzt wird, wie das wohl geplant war/ist, das Unternehmen auszuräubern. Denn nach meinen bisherigen Erkundungen scheint der Konkursrichter Mr. Clarkson ein ganz pfiffiger Kerl zu sein. Und mit der SEC wird sich Herr Clarksn sicher aus kurzschließen - denn der CFO Ken Cragun war einfach ui dreist und frech.  

nicht vom CFO Ken Cragun das Fell über die Ohren ziehen,

http://unitedtrustees.com/conference14/clarkson-detail.html  

Local Corp verkauft seine 14 Patente und Krillion und erwirbt gegen Gebühren Lizenzen oder kostenlose Nutzung (was aber den Verkaufspeis drücken wurde). Das dürfte mehr als ausreichen, um alle Schulden zu tilgen und eine vernünftigen Kassenbestand zu haben.

Eine so entschuldetes und verschlanktes Unternehmen, das mit nQuery by Local ein ganzes heißes Eisen im Feuer hat, wird meines Erachtens mit Gewinn arbeiten - aber sicher nicht wieder auf Anhieb alte Umsatzgrößen erreichen. Mir reicht auch ein Jahresumsatz von 50 Millionen mit den zuletzt nur noch 48 Beschäftigten - und die Bewertung dürfte dann durchaus bei einem Umsatzmultiple von 1 und sehr viel niedrigerem cost of revenues-Anteil bei 50 Millionen liegen.  

Erachtens kriminellen Schuldner der Wandelschuldverschreibungen und von Fast Pay mit Hilfe des kriminellen CFO Cragun ihre Anteile in Aktien umzutauschen versuchen, denn das würde zu einem unfairen Verhältnis geschehen. Wenn sich dadurch allerdings die Aktienzahl dadurch nicht mehr als verdreifacht könnte ich dem zustimmen, wenn die Patente und Krillion zunächst bei Local Corp blieben und anschließend ganz oder teilweise zu Cash gemacht würden.  

Bein den jetzigen Kursen, unterstellen wir einmal 0,07 sind sehr viel ungünstigere Umtauschverhältnisse antizipiert.


Würde man beispeilsweise eine Versieben- bis Verachtung der Aktien und einen Wert einer schuldenfreien Unternehmung von 32 Millionen unterstellen, also das sich 160 Millionen Aktien ergeben, wäre der errechnete Aktienwert immerhin noch 0,20.

Somit steckt im Kurs von 0,07 die Erwartung, dass die Aktionäre nur noch 1/25 - also 4% der Aktien halten, während der Rest bei den Gläubigern liegen würde. Meines Erachtens wäre das gegen Judge und US-Trustee, die sich beide auch die Vorgeschichte ansehen und die Unterhosen sicher nicht mit der Beißzange anziehen, kaum durchzusetzen.  

"Um nach Chapter 11 Insolvenz beantragen zu können, muss das Unternehmen nicht insolvent sein. Es genügt, wenn es potentiell von einer großen Forderungssumme bedroht ist, wie z. B. die Asbestproduzenten in den Vereinigten Staaten. Ein Unternehmen kann vorausschauend feststellen, dass es unfähig sein wird, eine zukünftige hohe Schadensersatzsumme zu zahlen, auch wenn es derzeit noch über ausreichend Finanzmittel verfügt, um seine aktuellen Schulden zu begleichen. Das Gleiche gilt, wenn ein Unternehmen angesichts der festen laufenden Ausgaben nicht in der Lage ist, profitabel zu arbeiten. Ein anderer Anlass kann die Neubewertung des Unternehmensvermögens sein. Beispiel: Im Rahmen der wirtschaftlichen Probleme der gesamten US-Stahlindustrie (1985 bis 1999) sanken deren Einnahmen erheblich.

Die Zeit für die Reorganisierung kann mehrere Wochen bis Jahre betragen. Das hängt stark von dem Verhältnis und der Zusammenarbeit des Unternehmens, den Gläubigern und den Aktionären vor und nach Einreichung der Insolvenz nach Chapter 11 ab. Ein typischer Chapter-11-Fall dauert zwei Jahre. In dieser Zeit wird das Unternehmen vom Aufsichtsrat und vom Management geführt. Das Unternehmen ist verpflichtet, alle seine Rechnungen und Ausgaben zu begleichen, die nach der Insolvenzeinreichung fällig geworden sind. Die meisten Altforderungen werden jedoch nicht beglichen - nicht bevor das Insolvenzgericht (bankruptcy court) den Restrukturierungsplan bestätigt hat."
 

The SEC, Judge Clarkson and the US-Trustee should ask Ken Cragun, why he manipulated the Cash Flow from operations in Q2/15 down 4.4 million from a positive amount through a not needed repay of liiablities of a third in only three month

Without the not needed repay of a third (!!!!!!!!!!!!!!!) of the liabilities (if change of liabilities were flat) in only three month, we had a positive cash flow from operations in Q2/2015.
 

The value of nQuery is after my estimates a lot higher than the debt - after my estimte between 30 and 50 million value of nQerry by Local alone

I hope, that the development of nQueryy has continued and will continue - for example the enter into default search via browser in 2H/2015.

Some facts about nQeuery by Local from LOCM - Roth Presentation - March 2015

Growing mobile searach demand

- 20 Million unique visitors per month

Market expansion
- 18 countries (LATAM + US)
- EMEA & APAC expected by 2H 2015

Platform expansion
- Enhaicing paid content
- Enter into Default search via browser - expected 2H2015

Source: LOCM - Roth Presentation - March 2015  

aber das Network npress - hier arbeitet Local Corp zum Beispiel für seinen wohl renommiertesten Kunden Washington Post:

http://directory.washingtontimes.com/...ington%2C+dc&q=rstaurants

 

Value of the partner-network of Local Corp with over 5 million MUV's and approximately 1,000 partner websites, such as local newspaper, television websites and other third party online publishers? .

Our Network, which reaches over 5 million MUVs, is our second largest source of revenue and is our largest gross margin business by percentage and in real dollars. Our product is a nationwide database of local business and product listings along with ad feeds which monetize those listings. We provide our product in the form of a hosted solution or via an ad feed solution. Our hosted solution is designed to generate search engine optimization (“SEO”) traffic to our partners’ sites and this helps those partners to increase their reach to new online users. As with Local, we monetize those users with ads placed alongside our content and we share revenue generated from those ads with our partners. Our ad feed solution is provided to sites that prefer to maintain their own look-and-feel and we share revenues in a similar fashion. Our Network consists of approximately 1,000 partner websites, such as local newspaper, television websites and other third party online publishers. We have a twelve month auto-renewing agreement terms with the majority of our partners. Our Network enables us to reach a larger audience than we can reach through our Owned and Operated properties and platforms alone.
 

dann sind die 0,065 im Brief in Stuttgar eine sehr faire Preisstellung.  

The value of nQuery is after my estimates a lot higher than the debt - after my estimte between 30 and 50 Million value of nQerry by Local alone
.

I hope, that the development of nQueryy has continued and will continue - for example the enter into default search via browser in 2H/2015.

Some facts about nQeuery by Local from LOCM - Roth Presentation - March 2015

Growing mobile searach demand

- 20 Million unique visitors per month

Market expansion
- 18 countries (LATAM + US)
- EMEA & APAC expected by 2H 2015

Platform expansion
- Enhaicing paid content
- Enter into Default search via browser - expected 2H2015

Surce: LOCM - Roth Presentation - March 2015 Less

 

https://vimeo.com/111623700  

http://www.winthropcouchot.com/publications/...mpany.pdf?article_id=1  

Fortunately, for both buyer and seller, Section 363 of the Bankruptcy Code provides a
legal framework to facilitate the acquisition of an insolvent entity. The concept is one in
which the seller files a Chapter 11 and then files a motion to sell substantially all of its
assets to a proposed buyer free and clear of liens and claims and interests and, possibly,
successor liability. The buyer ends up with a cleaned up business and the creditors end up
with the proceeds which can be distributed through a liquidating or 'pot' plan. Yet another
potential benefit of the bankruptcy process is the ability to also use Section 365 of the Bankruptcy Code. This section empowers the seller/debtor to assume virtually any
favorable contract such as a below-market real estate lease or supply contract and assign
it to the buyer over the objection of a lessor or contracting party even if the lease or
contract is in default. Conversely, unfavorable leases or contracts can be rejected with no
adverse consequences to the buyer. The other party to the rejected lease or contract would
simply have a pre-petition unsecured claim to the proceeds of the sale, along with the
remainder of the seller's/debtor's creditor body.
The transaction can be pre-negotiated before the filing or a truly distressed debtor can file
for protection before beginning its search for a buyer. In either event, the principal
drawback for a buyer is that the transaction will be exposed to the market with the
potential for overbidding through court-supervised auction procedure. Another possible
negative is that tax loss carryforwards may be lost.
From the sellers' and creditors' perspective, the solution is a good one since the
protections which can be afforded by a Section 363 sale even if there are no competing
bids will be likely to result in a far better price for the assets than if they had to be sold
subject to all the problems of the real world, including the inability to sell known or
hidden liens and claims, successor and environmental liabilities.

Source: Read mor at winthropcouchot/publications/buying-selling-a-company
 

CEO Thiel in May: "A number of interested parties have approached us, and as a public company we have a fiduciary duty to our shareholders." I hope that the SEC, Judge Clarkason and the US-Trustee will contro this message of CEO Thiel

"A number of interested parties have approached us, and as a public company we have a fiduciary duty to our shareholders to evaluate properly and walk down a process to see what makes sense, especially considering the fact that our stock is currently trading at a very low valuation. That makes us an attractive target. We obviously have to go down that path [of hiring the firm], and it opens up some interesting opportunities.

Depending on the nature of the transaction — if one happens, and there’s no guarantee that one’s going to happen — it could potentially provide the company with a great opportunity to maybe sell the traditional owned and operated network businesses that have been its legacy, and focus wholeheartedly on programmatic and inquiries. In a way, it could actually be an accelerator and an enabler for us to do what we really want to focus on, which is creating great value for our shareholders."
 

Erachtens wesentlich mehr wert als die weniger als 20 Millionen Schulden von Local Corp.