And on what basis do you believe the shareholders will participate in the Ch 11 workout?
Where were those interested parties in June? And July? Today?
Has Winthrop Couchpotato listed this turd as a client yet?
Hey stann, why don't you look at and pump Sears Holdings (SHLD). It has $29 billion of sales and its market cap is only $2 billion -- a ridiculously low valuation, don't you think?
In California they call window washers "window engineers"?
Window engineer? That's what they call window washers in California?
What a laugh, stannguru! Comparing Loco Corpse with Oracle? Were you born stupid, or did you get there from hard work and practice?
I was wondering why Loco Corpse engaged Winthrop Couchpotato as its bankruptcy representative, given the presence in LA of Stutman Treister & Glatt, a Los Angeles-based bankruptcy specialist with a strong reputation for its representation of the debtor's side. I went up against them once. As it turns out, I learn that Stutman Treister closed its doors last year. Its business had fallen sharply over the years for two reasons: (a) bigger law firms were opening up bankruptcy departments; and (b) the number of bankruptcies has about halved since 2008. According to a Stutman representative, the low interest rate environment has allowed companies to refinance themselves, and avoid Chapter 11 reorganization. Makes one wonder what kind of financial advice and leadership the Loco Corpse was receiving.
It is amazing that either there has been no activity, no filings, with the Court since the company's bankruptcy filing; or that Winthrop Couchpotato, its bk lawyer, has not yet admitted that Loco Corpse is a client. Haven't the unsecured creditors formed a Creditors Committee? Is everyone just standing around looking at their private parts? Or is the lawyer just that embarrassed to be involved?
In the first qtr mgt went out of its way to explain that the negative cash flow was the result of a big payment that was not received until after the qtr had closed. Have they said anything yet about the distortions that allowed them to show a big positive cash flow in Q-2? Of course not.
"I can not understand how they go bankrupt with so many newspapers websites."
Either can I. Each paper is a small town weekly, with at least twelve subscribers. Those numbers do add up, don't they?
If you or I "age our receivables" by letting our credit card bill slide, we get to pay 25% APR on the balance. I suspect INUV's trade creditors are a bit more lenient than Bank of America is with me. One might suggest that stringing the trade creditors along is cheaper financing than the debt they had outstanding. Trouble is, at some point the creditors will demand payment. The company has in the past pointed out that it has taken this strategy as a means of conserving cash, with the disclosure that the downside is that the subsequent worsening of the relationship with its creditors might not be so positive for the business.
Interesting as well that, while cash flow appears strong and debt is down, they are doing it on the backs of their trade creditors. Take a look at accounts payable and accrued expenses.
"Our patents, in particular our pay-per-call family, are very valuable"
Valuable to whom? A kid with a lemonade stand has a better chance of success than this company selling either itself or its patents.
"First, the leads come to you."
Yes, but only if the website offers a product that attracts the market.
You have noticed, have you not, that the share price has almost halved since yu went to the pinkos?
""We believe our unique local search traffic is very valuable ..."
Yes, and many people believe their homes are worth far more than the market is willing to pay, as well.
You think the goodwill and the intangibles are worth 100 cents on the dollar? Were you born stupid, or did you get there through hard work and practice?
"And because the liiabiities cound [sic] not be reduced in Q3 again, we will have a positive cash from operations..."
Nobody can be this stupid, can they?
And if the queen had balls, she'd be the king! If the company doesn't pay its bills, then cash flow is positive?