LiveDeal Unveils Non-Dilutive Acquisition Strategy Designed to Maximize Stockholder Value
Jun 30, 2015, 06:30 ET
Company To Re-Brand as Live Ventures, Inc.
LAS VEGAS, June 30, 2015 /PRNewswire/ - LiveDeal Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, a geo-location-based, mobile marketing platform for consumer products and "real-time" and "instant dining offers" to nearby consumers, today announces that it has solidified its acquisition strategy to seek out undervalued companies with little to no online presence. Further, the Company has adopted a policy designed to prevent share dilution and to increase stockholder value. LiveDeal now intends for its contemplated acquisitions to be financed and closed using traditional, non-dilutive debt financing rather than using the Company's equity.
In addition, based on its desire to seek acquisitions in any vertical that can sustain an online component, the Company has re-branded itself to better reflect this new direction. With this rebranding will come a new corporate name, "Live Ventures, Inc." Live Ventures, Inc. will retain the tickerNASDAQ:LIVE, and LiveDeal Inc. will become a wholly-owned, fully operating subsidiary of Live Ventures, Inc., providing the same online offers as it currently provides. The Company expects the name change to take effect within 45 days.
"We have repeatedly discussed that we see LiveDeal as a leader in the industry, and that our growth would transcend the deal space," said Jon Isaac, CEO of LiveDeal. "By rebranding ourselves to Live Ventures, Inc., we have the bandwidth to expand into a wide variety of verticals, while maintaining our original acquisition strategy, namely, seeking revenue-positive companies that are undervalued and present significant growth opportunities through an online presence. We look forward to demonstrating our vision, and our success, to our stockholders, customers and potential partners alike."
About LiveDeal, Inc.
LiveDeal Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In November 2012, LiveDeal commenced the sale of marketing tools that help local businesses manage their online presence under the Company's Velocity Local™ brand. LiveDeal continues to actively develop, revise, and evaluate these products and services and its marketing strategies and procedures. For more information, visit www.livedeal.com.
Forward-Looking and Cautionary Statements
This press release may contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company's actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014, most recent Quarterly Report on Form 10-Q, and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
SOURCE LiveDeal Inc.
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