So when the LOC is forced to be paid down further because of the reduced receivables (driven by the lowered revenues), and the converts are neither paid off or refinanced, the present value of the future cash flows of the patents will be listed as an asset on the Ch 11 petition...
No, what the company said was that the current guidance with respect to per-share amounts uses 24 million shares as the divisor. They offered NO GUIDANCE as to the number of shares you should expect to see. Won't matter -- even if they try and float a share offering, nobody will buy it.
Clearly, the focus and the concern of investors and shareholders is not on the on-going operations, but rather it is on the balance sheet and the company's ability to deal with the debt that is coming due. About the only thing left on the asset side of the balance sheet is the goodwill. Which becomes badwill.
The end of the first quarter, of course, comes right before April, when all the chickens come home to roost (roasting the shareholders).
"We were disappointed with our revenue"
And where are the metrics defining all those "milestones" that supposedly were reached. What about the "millstone" hanging about the company's neck, the debt that is coming due? What does Thiel have to say about that?
And his cut-and-paste comments? Try and find something positive, eh, stann? Cash sank by $2.0 million in Q4 from the Sept 30 figure, and cash flow from ops was negative by $1.9mil in Q4. How are they going to pay down the debt? And of course the company made no mention of THAT in its press release.
As for the delisting notice, management is "exploring its options." What a hoot! The only real option to getting this turd above $1 per share is a major reverse split, say 1-for-3. But that would bring the O/S shares down to 8 million, sharply reducing liquidity.
Who is being squeezed, Boy?
Keeping in mind that Loco Corpse originally sued Fry's for a mere $75,000, one can only guess at exactly how paltry the settlement was and what the licensing fee is. One wonders how management gets to a guess of $100 million of potential licensing fees might be out there, especially since Loco has not announced any other legal initiatives in the wake of its "victory."
From the law firm that defended Fry's"
"Aggressively defended Fry’s from allegations of infringement of US Patent 7,062,453, directed to an e-commerce cascading menu. Inheriting the case from previous counsel weeks before trial, identified and litigated an inventorship defect under 102(f), rendering the patent invalid, which led to a stay of the case while patentee was forced to correct the patent at the USPTO. The case was favorably settled and dismissed."
How many other patents are defective? How much can this one be worth, since Local had to go back and correct it?
And working capital is a deficit of $10 million! Are you being stupid on purpose?
The only thing being squeezed is your private parts...
During th fourth quarter, Bank of NY Mellon opened a new position in this turd, buying 58,491 shares. Similarly, a less well-known operation, National Asset Management, opened a position at 80,000 shares. At Dec 31, the pps was $1.04. B of NY-M and Nat. ASSet must be absolutely thrilled with the 33% decline in value over the past seven weeks. Similarly, Russell Frank must be wondering why he upped his position by 14%, and then there is Jacobs Levy that increased his by 56%. When holding a stock, one is effectively making a "buy" decision on a daily basis and Blackrock Inst. Trust, Geode and CALPERS must be shaking their collective heads at their decisions. Then there is Rotella, that blew out in its entirety its 66,304 share position.
Vanguard and Blackrock Fund Advisors have their shares in index funds: they HAVE to own them.
Well, stann, I will not argue that ANGI is a good value at current prices, but that certainly does not mean that Local Corpse is under-valued. Your conclusion has no justification. Two pigs does not equal a cow.
Angie's List has a distinct advantage over Local Corpse. It is a brand, a page that consumers actively seek out to find service providers. What does Local Corpse have to offer? Is there a page that consumers actively seek out, that creates revenue opportunities? Or is it a website that people accidentally stumble upon when they are searching for something? Which has the greater opportunity for long term growth, thus driving valuation?
And what the smart investors have understood for quite some time is that this company is being squeezed by debt that it cannot pay down nor can it refinance. Even as you post, management is preparing the bundle of papers it will need to present to the bankruptcy court.
As I noted before your most recent post, you know nothing. Your belief that institutions do not buy stocks trading for less than a fin will be disabused if you merely take the time to compare who owned this POS back on Sept 30 and who owned it as of Dec 31. You are either lazy or stupid. Which is it?
Any input? I would say that you know nothing about what you are posting. What did you do, come across some website with a bunch of Wall Street cliches?
Fool! It has less that half the cash it needs.