noch zu 8859 http://www­.sharedeal­s.de/2015/­06/...tasi­en-sorgen-­fuer-kurss­pektakel/  

Yext is mein Favorit für eine Übernahme 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.­
 

In Deutschlans sind die Umsätze 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  
 

Irgendwie komme ich an Mann nicht ran 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.
 

Völlig kriminell kann der Jugde nicht sein 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.
 

Informationen nötig 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.
 

Klingt besser als gedacht 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).  

Diese Stelle meine ich: "The debtor listed its assets of $36.07 million and liabilitie­s of $8.84 million."  

Aus der letzten Bilanz kopiert (Yahoo-Board) 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.  

Der läasst sich nach meinem ersten Eindruck nicht vom CFO Ken Cragun das Fell über die Ohren ziehen,

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

Meine bevorzugte Variante ist 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.  

Kritischer würde ich sehen, wenn die meines 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.  

zu #8682 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.  

Wikipedia "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."
 

Daran führt sicher kein Weg vorbei 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.
 

Meines Erachtens das heißeste Eisen im Feier 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  

Nicht minder wertvoll ist meines Erachtens 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

 

zu #8867 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.
 

Nimmt man den US-Kurs imd den Dollarkurs dann sind die 0,065 im Brief in Stuttgar eine sehr faire Preisstell­ung.  

Für mich ist nQuery am aussichtsreichsten

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

 

zu 8870 https://vi­meo.com/11­1623700  

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

The Solution 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
 

We have a fiduciary duty to our shareholders 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."
 

Allein der Wert er 14 Patents iist meines Erachtens wesentlich­ mehr wert als die weniger als 20 Millionen Schulden von Local Corp.