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Local Corporation Message Board

flankenking 475 posts  |  Last Activity: May 27, 2014 10:06 AM Member since: Feb 18, 2013
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  • Reply to

    Idiotic Divergence

    by fankenguru May 27, 2014 8:54 AM
    flankenking@ymail.com flankenking May 27, 2014 10:06 AM Flag

    fankenguru desperate to bailed out of Local Corp, lost big moneys and need someone overpay for not excellent business

  • Reply to

    Nothing will keep LOCM down...

    by letitgr0w1 Mar 19, 2010 11:38 AM
    flankenking@ymail.com flankenking Feb 18, 2014 10:43 AM Flag

    flankenking make most excellent call, predictions always true

    Reply to Nothing will keep LOCM down...by letitgr0w1 •Mar 19, 2010 11:38 AM
    flankenking flankenking • Mar 19, 2010 1:17 PM Flag0 users liked this posts users disliked this posts 0 Reply The naked shortsellers increase their positions

  • Reply to

    Local Rolls the Dice on Another Troubling Deal

    by flankenking Jan 4, 2014 5:44 PM
    flankenking@ymail.com flankenking Jan 4, 2014 5:47 PM Flag

    additional payments and benefits after selling their company.

    As noted, their latest firm has gone on to pocket more than $5 million since agreeing to sell itself to Local just six weeks ago. But Local investors could wait a while for any major payoff – or potential fallout – stemming from that deal.

    “While we believe Octane is highly strategic to the company, this,” Clarke emphasized last month, “is a 2011 story.”

  • Reply to

    Local Rolls the Dice on Another Troubling Deal

    by flankenking Jan 4, 2014 5:44 PM
    flankenking@ymail.com flankenking Jan 4, 2014 5:47 PM Flag

    Local originally promised Inspire up to $7.5 million in stock – on top of the $15 million it had already paid for the company – if Inspire met certain milestone targets. In that case, regulatory filings indicate, Local never paid those extra bonuses because Inspire failed to deliver on its goals. Under a similar deal inked with Simply Static/Octane360, however, Local has already started handing out milestone awards.
    On July 28, Local issued $325,000 worth of stock to Simply Static “for payment of certain milestones achieved” just four weeks after purchasing the company. Those achievements remain unclear, however, since Local itself had just told investors – two days earlier -- to expect no lift from that new company for the remainder of this year.
    Nevertheless, MDB Capital analyst Jon Hickman is clearly hoping for the best. This week, Hickman celebrated Local’s recent purchase of Octane360 – and its potential boost to future revenues – when rushing to defend the company and his bullish call on its stock.
    “The recent acquisition of Octane360 provides the company with a whole new avenue of growth,” wrote Hickman, who previously disclosed a financial position in the company. “We reiterate our buy rating and price target of $15 per share.”
    While Local investors wait for that payoff, the founders of Simply Static/Octane360 have already proven that they know how to strike a lucrative deal. Shortly after leaving L90, Internet records show, Roah joined forces with Rioux to launch a new Internet-based company known as Verapass Marketing. They later sold that firm to E-Babylon, records show, which now operates under the ValueClick (Nasdaq: VCLK) umbrella.
    In 2008, ValueClick agreed to pay the Federal Trade Commission a record $2.9 million fine to settle charges that the company and two of its subsidiaries – including E-Babylon – engaged in deceptive business practices. Meanwhile, regulatory filings indicate, both Roah and Rioux walked away with employment contracts promising

  • Reply to

    Local Rolls the Dice on Another Troubling Deal

    by flankenking Jan 4, 2014 5:44 PM
    flankenking@ymail.com flankenking Jan 4, 2014 5:47 PM Flag

    to almost $6 a share over the course of last year. Meanwhile, Local rewarded Agius handsomely for the company’s newfound success. According to regulatory filings, Agius scored a total compensation package valued at roughly $775,000 – eclipsing the 2009 payout awarded to Clarke himself – for her first 10 months on the job.

    Let’s Make a Deal

    Local has already seen one of its biggest acquisitions fail to pay off for investors.

    In February of 2005, Local inked a $15 million deal to purchase Inspire – a Swedish technology company – in an effort to expand into the European market and become an international player in the Internet business. Local issued disappointing guidance on the day it completed that transaction, forecasting an unexpected spike in expenses, with its stock plummeting almost 35% on the news.

    All told, a past news report by the Orange County Business Journal shows, Local lost about 80% of its value during the three months preceding and the three months following that deal.

    Of the $15 million that Local spent on Inspire, almost $12.5 million wound up recorded on the company’s balance sheet as goodwill. Local took a small impairment charge at the end of 2005, regulatory filings show, “due to the deterioration of revenues in Europe since the acquisition of Inspire.” However, later filings indicate, Local continues to carry an estimated $12 million worth of that goodwill on its balance sheet – despite the company’s failed European venture – to this day.

    At the time of Local’s latest annual report, that goodwill accounted for more than one-quarter of the company’s total assets.

  • Reply to

    Local Rolls the Dice on Another Troubling Deal

    by flankenking Jan 4, 2014 5:44 PM
    flankenking@ymail.com flankenking Jan 4, 2014 5:45 PM Flag

    an officer or director of any publicly traded companies – as a result of his alleged misconduct.

    Since then, Linkedin records show, Roah has resurfaced as the senior vice president of business development – filling the same post he once held at L90 -- at Octane360. As noted, under the terms of his deal with the SEC, Roah cannot serve as an officer of a public company. As Octane360’s new owner, Local has welcomed Rioux – identified in outside publications as Roah’s brother-in-law – to its management team as a division vice president instead.

    Local did not respond to questions for this story.

    Local supplied no historical financial results for Octane360 when it purchased the company. When hosting its quarterly conference call a few weeks later, however, Local did admit that Octane360 would generate no meaningful revenue – while delivering a slight hit to earnings – during the second half of the year.

    “We think Octane was a great transaction with near-term benefits, but is primarily a long-term strategic investment expected to pay across-the-board dividends in 2011 and beyond,” Local CEO Heath Clarke stated during that July 26 conference call. “We firmly believe that the investments we’re making today will allow us to continue our high growth track well into the future.”

    Clarke has been sending mixed signals to investors, however. He sold a huge chunk of Local stock, pocketing roughly $4 million in proceeds, back in early May. He followed up with two additional sales, cutting his original stake in Local by a total of 44%, after that. He executed the last of those transactions on the same day that Local announced the Octane360 deal.

    Local’s stock, hammered last week after TheStreetSweeper raised questions about corporate management and the company’s previous acquisitions, has plummeted since that time. At $4.16 a share, the stock currently fetches about half the price it did when Clarke dumped so much of it just a few short months ago.

  • Local (Nasdaq: LOCM) better hope that investors don’t start using Google (Nasdaq: GOOG), its far more powerful rival, to search for information about the last company it acquired.
    Last month, Local agreed to pay $5 million -- plus another $5.9 million in potential earn-out bonuses -- for a startup technology company that provides “domain-based local advertising solutions” to small business customers. When announcing that transaction, which looks rather extravagant for a company that’s recorded net losses for the past five years, Local identified its buyout target as Octane360 and the firm’s leader as Adam Rioux. Local only later revealed in an official 8-K filing that it had actually purchased Simply Static, doing business as Octane360, a company co-founded by Rioux and a second man by the name of Mark Roah.
    Local may have buried this information for a reason. In 2003, Roah agreed to plead guilty to criminal charges for artificially inflating the revenue at L90 – an Internet firm where he served as senior vice president of business development – and another web-based company called Homestore. According to Internet records, Roah received a one-year prison sentence, followed by three years of supervised release, as punishment for those crimes. A man with the same name and age as Roah served time in federal prison, an official database shows, regaining his freedom less than three years ago.
    Back in 2003, the U.S. Securities and Exchange Commission filed charges against Roah as well. The agency accused Roah of negotiating bogus “roundtrip” business transactions designed to boost L90’s revenue, lying to the company’s auditors about those deals and then signing off on fraudulent financial statements that included the wash sales. It also claimed that Roah had “misappropriated substantial amounts of money” derived from two roundtrip sales between L90 and Homestore.

    The SEC ordered Roah to pay more than $750,000 in restitution and interest – and barred him from serving as a

  • Reply to

    Flanks estimates on Spreebird were $!

    by shortdowntozero Nov 5, 2013 5:06 PM
    flankenking@ymail.com flankenking Nov 5, 2013 6:30 PM Flag

    fankenkoenig aka flankenking predictions always right

    flankenking • Nov 5, 2011 9:56 AM Flag
    0users liked this postsusers disliked this posts0Reply
    Flankenking bought and bought and buy

    500 shares for 2.105 EUR on 11/3/2011 in Germany (Tradegate)

    600 shares for 1.746 EUR on 10/14/2011 in Germany (Tradegate)

    600 shares for 1.721 EUR on 10/13/2011 in Germany (Tradegate)

    700 shares for 1.641 EUR on 10/10/2011 in Germany (Tradegate)

    600 shares for 1.62 EUR on 10/07/2011 in Germany (Tradegate)

    600 shares for 1.657 EUR on 10/06/2011 in Germany (Tradegate)

    600 shares for 1.643 EUR on 10/05/2011 in Germany (Tradegate)

    600 shares for 1.653 EUR on 10/05/2011 in Germany (Tradegate)

    800 shares for 1.628 EUR on 10/04/2011 in Germany (Tradegate)

    300 shares for 1.891 EUR on 09/26/2011 in Germany (Berlin)

    500 shares for 1.976 EUR on 09/02/2011 in Germany (Tradegate)

    400 shares for 1.877 EUR on 08/31/2011 in Germany (Tradegate)

    700 shares for 1.674 EUR on 08/23/2011 in Germany (Tradegate)

    400 shares for 2.02 EUR on 08/16/2011 in Germany (Tradegate)

    400 shares for 1.829 EUR on 08/12/2011 in Germany (Stuttgart)

    600 shares for 1.579 EUR on 08/10/2001 in Germany (Tradegate)

    400 shares for 1.55 EUR on 08/09/2011 in Germany (Tradegate)

    400 shares for 1.55 EUR on 08/09/2011 in Germany (Tradegate)

    400 shares for 1.526 EUR on 08/09/2011 in Germany (Tradegate)

    300 shares for 1.887 EUR on 08/08/2011 in Germany (Tradegate)

    400 shares for 2.192 EUR on 08/04/2011 in Germany (Frankfurt)

    and a lot more in additionals steps in last two years. That are now together 41,600 shares and Flankenking is sure, that value will reach one million dollar in the next 12 month.

  • flankenking@ymail.com flankenking Nov 5, 2013 11:29 AM Flag

    flankenking•Jun 16, 2013 3:12 PMFlag

    0users liked this postsusers disliked this posts0
    Reply

    Spreebird doing well
    .

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    Time Remaining
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    361 Bought

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    Deal Partner Travelzoo Less

  • Reply to

    And the future is bright

    by fankenkoenig Oct 30, 2013 6:51 PM
    flankenking@ymail.com flankenking Oct 31, 2013 5:57 PM Flag

    postings are true and fankenkoenig dont argument that

  • Reply to

    And the future is bright

    by fankenkoenig Oct 30, 2013 6:51 PM
    flankenking@ymail.com flankenking Oct 31, 2013 5:56 PM Flag

    Our lead director, Norman K. Farra, Jr., currently serves as FEP Advisor for Merriman Capital, Inc.

  • Reply to

    And the future is bright

    by fankenkoenig Oct 30, 2013 6:51 PM
    flankenking@ymail.com flankenking Oct 31, 2013 3:40 PM Flag

    Our lead director, Norman K. Farra, Jr., currently serves as FEP Advisor for Merriman Capital, Inc.

    Merriman analyst the bestest, covers only the bestest companies, Andrew predictions therefore must come true

    Covering Local Corp is analyst Andrew D'Silva, one of our best analysts. He has responsibility for such other notable companies as Smack Sportswear (OTCBB: SMAK Speculative Buy price target $0.09) and OriginOil, Inc. (OTC: OOIL Speculative Buy price target $0.55).

  • Reply to

    And the future is bright

    by fankenkoenig Oct 30, 2013 6:51 PM
    flankenking@ymail.com flankenking Oct 31, 2013 3:40 PM Flag

    Joel Achramowicz – Merriman Capital

    So you paid us $300,000 for placing your junk debt, what else do you want us to do so you guys can look like you know what you're talking about?

    Heath B. Clarke

    Thanks Joel, maybe you can come out with coverage on the stock and throw a really high price target, maybe 50 cents more than Ladenburg, that would be a huge help.

    Source: Transcript of Conference Call

  • Reply to

    And the future is bright

    by fankenkoenig Oct 30, 2013 6:51 PM
    flankenking@ymail.com flankenking Oct 31, 2013 3:39 PM Flag

    fankenkoenig aka flaneknking providing positve reviews from Merriman Capital without disclosing relationship between Local Corp and Merriman Capital is much more criminal than Street Sweper ever coudl think of. SEC and FINRA and Attorney of New York should investigate flankenking for materially misleading and falsificated public statements

  • Reply to

    3.5 million EBITDA in the second half of 2013

    by fankenkoenig Oct 30, 2013 3:03 PM
    flankenking@ymail.com flankenking Oct 31, 2013 3:28 PM Flag

    postings are true and fankenkoenig dont argument that

  • Reply to

    3.5 million EBITDA in the second half of 2013

    by fankenkoenig Oct 30, 2013 3:03 PM
    flankenking@ymail.com flankenking Oct 30, 2013 5:32 PM Flag

    fankenkoenig aka flaneknking providing positve reviews from Merriman Capital without disclosing relationship between Local Corp and Merriman Capital is much more criminal than Street Sweper ever coudl think of. SEC and FINRA and Attorney of New York should investigate flankenking for materially misleading and falsificated public statements

  • Reply to

    3.5 million EBITDA in the second half of 2013

    by fankenkoenig Oct 30, 2013 3:03 PM
    flankenking@ymail.com flankenking Oct 30, 2013 5:32 PM Flag

    Joel Achramowicz – Merriman Capital

    So you paid us $300,000 for placing your junk debt, what else do you want us to do so you guys can look like you know what you're talking about?

    Heath B. Clarke

    Thanks Joel, maybe you can come out with coverage on the stock and throw a really high price target, maybe 50 cents more than Ladenburg, that would be a huge help.

    Source: Transcript of Conference Call

  • Reply to

    3.5 million EBITDA in the second half of 2013

    by fankenkoenig Oct 30, 2013 3:03 PM
    flankenking@ymail.com flankenking Oct 30, 2013 5:32 PM Flag

    Our lead director, Norman K. Farra, Jr., currently serves as FEP Advisor for Merriman Capital, Inc.

    Merriman analyst the bestest, covers only the bestest companies, Andrew predictions therefore must come true

    Covering Local Corp is analyst Andrew D'Silva, one of our best analysts. He has responsibility for such other notable companies as Smack Sportswear (OTCBB: SMAK Speculative Buy price target $0.09) and OriginOil, Inc. (OTC: OOIL Speculative Buy price target $0.55).

  • Reply to

    Local Corp's Message to Publishers

    by fankenkoenig Oct 28, 2013 8:10 AM
    flankenking@ymail.com flankenking Oct 30, 2013 5:30 PM Flag

    idiot thinks Local Corp raised $5 millions for network busness, debt was for cash to make payrolls.

  • Reply to

    Sell sell sell

    by paul.starman1 Oct 28, 2013 6:11 PM
    flankenking@ymail.com flankenking Oct 29, 2013 6:13 AM Flag

    fankenkoenig aka flaneknking providing positve reviews from Merriman Capital without disclosing relationship between Local Corp and Merriman Capital is much more criminal than Street Sweper ever coudl think of. SEC and FINRA and Attorney of New York should investigate flankenking for materially misleading and falsificated public statements

LOCM
1.60-0.02(-1.23%)Aug 20 3:59 PMEDT

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