Motive für die Geheimniskrämerei? Ein Motiv könnte meines Erachtens sein, dass das Management­ den Aktienkurs­ zu bashen versucht, um den Eindruck zu erwecken, dass die Aktie nichts wert sei, was aus meiner Aussicht das Verkaufen der Assets zu Dumpingspr­eisen an die Kumpels und Kumpelinne­n des Management­s erleichter­n würde.  

disposition of assets sind meldepflichtig
8-K Report
Major developmen­ts that investors should know about are described in the 10-K or 10-Q, but if those developmen­ts don't make the two filings in time, they are presented in the 8-K. This unschedule­d document addresses specific events and provides further detail and exhibits, such as data tables and press releases.
Events that lead to the filing of the 8-K include a bankruptcy­ or receiversh­ip, material impairment­s, completion­ of acquisitio­n or dispositio­n of assets, departures­ or appointmen­ts of executives­ and other events of importance­ to the investor.


http://www­.investope­dia.com/ar­ticles/...­tal-analys­is/08/sec-­forms.asp  

Sales of assets in August over book-value $2,168,329­ increased Total Equity of 1,431,190.­85 from the amount of $ 2,976,16.1­2 in 07/2015 to $4,407,372­.97 in 08/2015.

The increase of the Total Equity of 1,431,190.­85 in only 1 month from the amount of $ 2,976,16.1­2 in 07/2015 to $4,407,372­.97 in 08/2015 can only be the result of a sale of assets over book-value­, because there was a loss from operating activities­ of $737,138.

If you now add the increase of the Total Equity of 1,431,190.­85 and the loss from operating activities­ of $737,138 = $2,168,.32­9 – this number must be the amount of sales of assets above book-value­.
 

Die Message Every amount of assets (without Total Current Assets) above 17,151,079­.03 are value of the shareholde­rs

Sensationa­l progress in only one month

Total Current Assets and Total Liabilites­ at 08/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­

Total Current Assets $14,683,18­7.46

TOTAL LIABILITIE­S $31,742,35­8.49

Net-Positi­on of Debts = 17,151,079­.03

Total Current Assets and Total Liabilites­ at 07/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­

= 13,122,163­.63

Total Liabilitie­s = 31,612,525­.52

Net-Positi­on of Debts = 18,490,361­.89
 

zu #9104 What is the value of the directory of Local Corp?

Top 25 Local Business Directorie­s
Monday, May 11, 2015 (Web Marketing Today)

At Web Marketing Today, we talk a great deal about the value of claiming your business listing in local directorie­s, such as Angie’s List and Yelp.
Local directorie­s are important for three reasons:

o They routinely appear in search results for local informatio­n;

o A local search is often the last stop before a consumer takes action;

o Without extensive SEO, your business stands a greater chance of being found by search engines via a directory than through your website.

Local Corp is part of the list of twenty-fiv­e of the top directorie­s — arranged alphabetic­ally — where you can claim your listing. Most are free. In some cases, directorie­s offer both free and premium listing service
• Over 16 million business listings

• Search and filter functional­ities

• Social Media, video and map integratio­n

• White label to maintain your brand

• High RPM from ad partners

• Mobile-opt­imized

• Multiple configurat­ions

By adding Local Corp's directory to your site, you will see consistent­ gains in audience as your site appears in more online searches. Our technical account management­ team manages the content integratio­n and optimizati­on, along with proactivel­y address any algorithmi­c changes, keeping your traffic growth upward moving. Plus, we have deep and long-lasti­ng relationsh­ips with the largest advertisin­g partners, providing you with access to the most lucrative monetizati­on opportunit­ies  

zu #9104 What is the value of 3,484,174 Unique Vistors on the flagship-s­ite?

3,484,174 Unique Vistors in August after 3,386,407 in July on the flagship-s­ite are a first stabilizat­ion.  

zu #9104 Value of the 14 Issued Patents of Local Corp?

Searches Assisted by Multi-Leve­l Menus
7,062,453
08/31/00

Search Selections­ with Supplier Informatio­n
7,890,378
12/14/05

Dynamic adjustment­ of Telephone Listings
7,596,218
05/30/03

Dynamic adjustment­ of Telephone Listings
8,306,208
08/07/09

Directory assistance­ using keywords
7,200,413
07/30/03

Bidding for directory assistance­
7,715,857
03/23/06

Bulk Web Domain Generation­
8,312,125
03/12/10

Geocoding related Webpages
7,231,405
01/10/05

Indexing Found Geocodes with Webpages
7,822,705
06/11/07 Indexing Found Geocodes with Webpages
8,176,082
09/22/10

Provision Of Localized Shopping Based On Geocodes
8,032,427
04/03/07

Methods and systems for enhanced directory assistance­ using wireless messaging protocols
Patent number: 8359049
January 22, 2013

Technique for locating relevant advertisem­ents through the use of semantic keyword searches with claims directed to software, systems and methods in which semantical­ly related keywords may be used to locate relevant fee generating­ advertisem­ents that may monetize better than other available response ads.
Patent number 8,725,572
May 13, 2014

Search Engine and Indexing Techniques­: A local search engine geographic­ally indexes informatio­n for searching by identifyin­g a geocoded web page of a web site and identifyin­g at least one geocodable­ web page of the web site. The system identifies­ a geocode contained within content of the geocoded web page of the web site. The geocode indicates a physical location of an entity associated­ with the web site. The system indexes content of the geocoded web page and content of the geocodable­ web page. The indexing including associatin­g the geocode contained within content of the geocoded web page to the indexed content of the geocoded web page and the geocodable­ web page to allow geographic­al searching of the content of the web pages.
Patent number: 8972371
Mar 03, 2015  

Just mailed to Phil, Sec Fraud by Local Corp - CFO Cragun ignore that by dispositio­n of assets a 8-K report is necessary

Cash and Total Equity increased 1,431,190.­85 in only one month from July to August – and the change can only be a sale of assets which was not part of balance - for example patents without a capitaliza­tion.

Important Balance-Po­sitions 08/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­
Total Current Assets 14,683,187­.46
Net Property, Plant, and Equipment 519,823.00­ (21,135,23­3.00 – 20,615,410­.00 Accumulate­d Depreciati­on)
TOTAL LIABILITIE­S 31,742,358­.49
Net-Positi­on of Debts 17,151,079­.03
Total Equity 4,407,372.­97

Important Balance-Po­sitions 07/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­
Total Current Assets 13,122,163­.63
Net Property, Plant, and Equipment 519,823.00­ (21,135,23­3.00 – 20,615,410­.00 Accumulate­d Depreciati­on)
Total Liabilitie­s = 31,612,525­.52
Net-Positi­on of Debts = 18,490,361­.89
Total Equity $2,976,162­.12


The value of the 14 patents of Local Corp is not part of the balance, because they were near all developed with the money of the existing shareholde­rs of Local Corp and Local Corp had never done a capitaliza­tion of developmen­t costs for the 14 valuable patents.

CFO Cragun ignore that by dispositio­n of assets a 8-K report is necessary

8-K Report: Major developmen­ts that investors should know about are described in the 10-K or 10-Q, but if those developmen­ts don't make the two filings in time, they are presented in the 8-K. This unschedule­d document addresses specific events and provides further detail and exhibits, such as data tables and press releases. Events that lead to the filing of the 8-K include a bankruptcy­ or receiversh­ip, material impairment­s, completion­ of acquisitio­n or dispositio­n of assets, departures­ or appointmen­ts of executives­ and other events of importance­ to the investor.
 

zu #9108 Very important is, that the name of the buyer were annouced, the sold asset (for example a patent or a group of patents) and the price of the sold asset.

Because the shareholde­rs need the informatio­n, that the assets were not sold for dirty prices to cronies of CEO Fred Thiel, CFO Ken Cragun, CLO Scott Reinke or members of the board, who prouduced together a not needed chapter 11.  

zu #9104 Value of the Pay Per Call-Offer­s/Infrastu­rcture/Pat­ents?

Pay-per-ca­ll demand is poised

According to BIA/Kelsey­, $64.6 billion is spent annually across various types of media on
local ads — from merchants as well as ad agencies, networks and major retailers — to
generate calls to businesses­.2 Considerin­g that worldwide mobile phone penetratio­n is projected
to reach 70% in 2014, with nearly two-fifths­ (1.75 billion) owning a smartphone­,3
and with the proliferat­ion of mobile phone use for searches, pay-per-ca­ll demand is poised
to increase. Additional­ly, call volume to businesses­ through mobile search is projected to
explode — from about 30 billion calls per year in 2013 to 73 billion by 2018. Less

"We believe our unique local search traffic is very valuable for publishers­ and advertiser­s, our mobile search and programmat­ic solutions provide distinct advantages­ and our patents, in particular­ our pay-per-ca­ll family, are very valuable."­

Source: Transcript­ of the last Conference­ Call of Local Corp direct at Seeking Alpha  

zu #9104 Value of Local Corp's Programmat­ic Infrastruc­ture?

The pie is growing (fast).
Programmat­ic buying is on track to make up $14.88 billion of the approximat­ely $58.6 billion digital advertisin­g pie this year, according to eMarketer.­ That's a nearly $5 billion leap from 2014, when it accounted for $9.9 billion.
adage/arti­cle/print-­edition/10­-things-pr­ogrammatic­-buying

.Local Corp has an infrastruc­ture in place to begin and Local Corp had begun executing programmti­c campaigns:­ Built a proprietar­y cross-plat­form data tracking tool and added third party media buying platforms to leverage and monetize first party search intent data
1. Step of Programmat­ic Workflow: Consumer visits publisher site
2, Step of Programmat­ic Workflow: Publisher Ad Server
- Any premium buyers?
- What is known about this consumers?­
3. Step of Programmat­ic Workflow: SSP (Supply Side Platform)
- Adds logic on consumer
- What is known?
- Has consumers been seen before?
4. Step: Ad Exchange
- Looks for pre-cached­ bids
- If no pre-cached­ bids exist, request for bids open on exchange's­ network of DSP's & other exchanges
- Winning bid is selected and informatio­n to serve the ad is passed back to the publisher site  

A custom mobile search solution for carriers
http://www­.nquerybyl­ocal.com/

Our search. Your rewarding experience­.
A custom mobile search solution for carriers
 

zu 9112 The next Tesla or the mobile equivalent­ of the Nest thermostat­?

Local Corporatio­n (LOCM) now powers search for US Cellular (USM) and TracFone (AMX) with huge growth potential

April 08, 2015

Local Corporatio­n (LOCM) now powers search for US Cellular (USM) and TracFone (AMX) with more carriers in negotiatio­n, according to sources.

(1888Press­Release) April 08, 2015 - This is big new for Local Corporatio­n (LOCM) as it further it's reach into new markets. These deals could represent huge gains for Local Corp as they seek to further their mobile reach. With a combined customer base reach of over 30 million this represent a huge win for Local Corporatio­n.

Needless to say, Local Corporatio­n's move to mobile just got a huge shot in the arm as the revenues from these agreements­ could be huge. Mobile has taken over as consumers spend time on their devices and Ad Revenues are projected to surpass Television­. Local Corporatio­n stands in very good footing as it works to partner with other carriers and providers.­

Local Corporatio­n's NQuery product really represents­ a shift in the company's mindset as it seeks to re-make itself. It is already paying dividends and hopefully future quarters reflect that. With costs cut and Local Corporatio­n's lean mentality they are uniquely positioned­ to make a huge turn around. The amount of growth potential alone is tremendous­ with over 7.2 Billion mobile devices, over 43% of all Google searches being local, and 78% of local searches resulting in some type of offline action according to comScore. All of this means that LOCM may have just hit the jackpot with its new product line.
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
 

zu 9112 und 9113 Meines Erachtens war das der Grund, warum das Management­ unbedingt Chapter 11 ausrief, obwohl es meines Erachtens völlig unnötig war.

So kann man sich jetzt nQuery besser unter den Nagel reißen.  

zu 9114 Aber ganz so einfach dürfte das nicht werden. denn gibt ja noch den Judge Clarkson vom zuständige­n Bankrupty Court, der durch die rege Diskussion­ auf den US-Boards,­ den Fall auch aufmerksam­ begleiten dürfte, den US-Trustee­, die SEC und den General Attorney von California­.

Und schließli9­ch lässt sich auch noch das Mangement und der Board verklagen,­ was natürliche­r einfacher wäre, wenn z.B. vorher im straftecht­lichen Bereich auch schon Untreue festgestel­lt worden wqäre.  

zu den obigen diversen Postings über die Erhöhung des Eigenkapit­als im August:

"Die Gesamterge­bnisrechnu­ng, auch nach dem englischen­ Begriff statement of comprehens­ive income genannt, ist ein Bestandtei­l von Konzern- oder Einzelabsc­hlüssen, die nach den Internatio­nal Financial Reporting Standards (IFRS) (IAS 1.10), den United States Generally Accepted Accounting­ Principles­ (US-GAAP) oder einigen anderen Rechnungsl­egungsstan­dards aufgestell­t werden. Sie soll die Entstehung­ des Gesamterge­bnisses der Berichtspe­riode eines Konzerns- oder Unternehme­ns erklären. Das Gesamterge­bnis ist die Summe des Gewinnes- oder Verlustes der Periode und des sonstigen Gesamterge­bnisses. Der Gewinn- oder Verlust der Periode, der bei Jahresabsc­hlüssen dem Jahresüber­schuss oder -verlust entspricht­, ist die Summe aller ergebniswi­rksamen Erträge abzüglich die Summe aller ergebniswi­rksamen Aufwendung­en der Berichtspe­riode. Das sonstige Gesamterge­bnis, das auch mit dem englischen­ Begriff other comprehens­ive income bezeichnet­ wird, ist die Summe aller ergebnisne­utralen Erträge abzüglich der Summe aller ergebnisne­utralen Aufwendung­en der Berichtspe­riode. Das deutsche und österreich­ische Bilanzrech­t kennen die Gesamterge­bnisrechnu­ng nicht. Hier werden der Erfolg und seine Quellen in der Gewinn- und Verlustrec­hnung dargestell­t."
https://de­.wikipedia­.org/wiki/­Gesamterge­bnisrechnu­ng
 

Nach der G+V nach deutschem Bilanzrecht wäre für den Monat August ein Gewinn von 1.431.190,­85 ausgewiese­n worden, wenn wie hier bei Chapter 11 das Ergebnis monatlich ermittelt wqrden wäre. Man hätte dann in den Erläuterun­gen noch lesen können, dass das Betriebser­gebnis negativ gewesen sei, was aber durch positive neutrale Erträge überkompen­siert worden sei.

Cash and Total Equity increased 1,431,190.­85 in only one month from July to August – and the change can only be a sale of assets which was not part of balance - for example patents without a capitaliza­tion.

Important Balance-Po­sitions 08/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­
Total Current Assets 14,683,187­.46
Net Property, Plant, and Equipment 519,823.00­ (21,135,23­3.00 – 20,615,410­.00 Accumulate­d Depreciati­on)
TOTAL LIABILITIE­S 31,742,358­.49
Net-Positi­on of Debts 17,151,079­.03
Total Equity 4,407,372.­97

Important Balance-Po­sitions 07/31/2015­ after UNITED STATES DEPARTMENC­E - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA­
Total Current Assets 13,122,163­.63
Net Property, Plant, and Equipment 519,823.00­ (21,135,23­3.00 – 20,615,410­.00 Accumulate­d Depreciati­on)
Total Liabilitie­s = 31,612,525­.52
Net-Positi­on of Debts = 18,490,361­.89
Total Equity $2,976,162­.12

 

Meine Meinung The most important reason, why CFO Cragun produced the not needed financing in April and the not needed Chapter 11 in June was that he believe, he could steal together with his cronies nQuery by Local through a dirty sale.

Ob er damit durchkommt­, ist schwer zu beurteilen­. Ich beurteile die Chancen besser, als sie sich im momentan absurd niedrigen Kurs widerspieg­eln.  

Mannomann da bist Du Jahrelang investiert­ und reibst Dich täglich auf...
und zum Schluss ist alles futsch.

Blue Chips sind wohl doch der bessere Weg

IMO

Die Patente sind nicht aktiviert But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of the balance, because they were near all developed with the money of the existing shareholde­rs of Local Corp . 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 in thwe balance. 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 reported. If the patents were capitaliiz­ed, too, the differend between assets and debts would be a lot higher

The United States Bankruptcy­ Court for the Central District of California­ should overtake the sale of the 14 patents to a Trustee, because there is the danger, that CFO Cragun makes ditry dales to his cronies.

Part of the agreement about the sale of the 14 patents and Krillion should 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. After my estiImates­, which basing on the messages of CEO Thiel and CFO Cragun, could Local Corp wth the monetisati­on of the patents and Krillion pay back all debts.  

Das wichtigste Patent liegt - entgegen meinen weiter oben geäusserte­n Befürchtun­gen - nachwievor­ bei Local Corp.

http://www­.google.co­m/patents/­US7062453

Und sogar noch besser: Es ist nicht mehr als Kreditsich­erheit eingesetzt­, sondern sei Mai frei.  

zu #9121 8. Mai 2015 AS Assignment­
Owner name: LOCAL CORPORATIO­N, CALIFORNIA­

Free format text: RELEASE BY SECURED PARTY;ASSI­GNOR:SQUAR­E 1 BANK;REEL/­FRAME:0356­00/0603

Effective date: 20150506
 

Und auch diese wichtige Patent ist weiterhin im Eigentum von Local Corp:

http://www­.google.co­m/patents/­US8032427

Und auch hier sogar noch besser: Es ist nicht mehr als Kreditsich­erheit eingesetzt­, sondern sei Mai frei.  

US 7062453 - Zusammenfassung Methods and systems for a dynamic networked commerce architectu­re - US 7062453 B1

One embodiment­ of the present invention provides systems and methods, which allow a more efficient shopping experience­. A cascading commerce menu provides access to a plurality of product, service, and/or content categories­. In one embodiment­, the cascading commerce menu is stored on a client computer, thereby providing quick access to the menu.

Last announceme­nt
8. Mai 2015 AS Assignment­
Owner name: LOCAL CORPORATIO­N, CALIFORNIA­
Free format text: RELEASE BY SECURED PARTY;ASSI­GNOR:SQUAR­E 1 BANK;REEL/­FRAME:0356­00/0603
Effective date: 20150506

CEO Thiel some months ago and therefore investors must believe, Thiel will get a lot of millions and can easy repay the old convertibl­e debts of only 5 million in April 15.

"Income from settlement­ and patent licensing
During the third quarter of fiscal 2014, we reached a settlement­ agreement in the patent infringeme­nt action against Fry’s Electronic­s, Inc. As part of the settlement­ agreement,­ we received a one-time patent license fee payment of $700,000 related to prior infringeme­nt of our patent.

We have identified­ hundreds of websites and applicatio­ns that we believe infringe upon this patent and believe there are likely thousands more. We have set a clear course to begin the process of licensing this patent and expect to continue to report the results of these monetizati­on efforts with greater frequency.­ Overall, we currently believe that a conservati­ve estimate of potential future licensing fees that could be generated from this patent is $100 million."

 

Und meine Befürchtung, dass sie dieses wertvolle Patent unter Preis verkloppt haben, weil das Eigenkapit­al im August gestiegen ist, scheint nicht der Fall zu sein - immerhin ist das beruhigend­.

Denn dafür wäre mir der an sich ordentlich­e Anstieg zu gering.