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Augme Technologies, Inc. Message Board

mitshu35 5 posts  |  Last Activity: Feb 25, 2015 2:39 PM Member since: May 1, 2000
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  • Reply to

    Yahoo interested in hippq

    by tech_47z Feb 24, 2015 1:08 PM
    mitshu35 mitshu35 Feb 25, 2015 2:39 PM Flag

    The Committee and the Debtor will be requesting an adjournment of the
    sale hearing to March 11, 2015 and a rescheduling of the Auction for
    March 9, 2015. As of this time, SITO opposes an adjournment. The
    Debtor will provide an updated status report to the Court at the 2/27/2015
    hearing.

  • Reply to

    Time-line

    by boardwalk97 Feb 19, 2015 12:39 PM
    mitshu35 mitshu35 Feb 19, 2015 4:28 PM Flag

    Late March. 6 weeks of testing after enrollment concluded plus a little time to prepare report should put us in the last week or two of March.

    Sentiment: Strong Buy

  • DJ Hipcricket Gets Approval to Continue Operations Pending Sale
    By Peg Brickley

    WILMINGTON, Del.--Mobile ad company Hipcricket cleared its bankruptcy-court debut Friday, winning approval to stay in operation while it heads toward a sale.

    Rival Sito Mobile is offering $4.5 million in cash for the operation and has agreed to take on certain liabilities. The offer will be tested at an auction.

    Additionally, Sito has offered to hire Hipcricket's workforce in a deal designed to boost the size of its business.

    Judge Laurie Selber Silverstein granted interim approval to motions entitling the company to preserve its business as it heads toward a hoped-for sale to close in March.

    Existing shareholders will likely see their holdings erased in the bankruptcy proceeding, according to a release Hipcricket issued after filing for Chapter 11 protection Jan. 20.

    In spite of growing revenue, Hipcricket racked up substantial losses in the business of helping manufacturers and retailers deliver their ads to customers on mobile devices, said Hipcricket lawyer Ira Kharasch.

    "The company's still a young company in a new commercial arena that is very competitive," Mr. Kharasch explained at a hearing in the U.S. Bankruptcy Court in Wilmington, Del. Up against rivals that "are far larger, with far greater financial resources to weather the growth curve," Hipcricket found itself with "extreme financing concerns," he said.

    A bankruptcy loan of $3.5 million is coming from Sito, the proposed buyer. Judge Silverstein indicated she would sign an interim order approving the loan once final documents are prepared.

    Hipcricket looked for an acquirer for some time before agreeing a deal with Sito. The company said it hopes the auction will improve the price being paid for its business. Rules to govern the bidding will be reviewed at a hearing in February.

    In court papers, Hipcricket estimated it owes $9.5 million to $10.5 million on trade debts

  • mitshu35 mitshu35 Jan 14, 2015 2:14 PM Flag

    Liolios said a filing would be done by end of today. Nothing like last minute....now if we just knew the nature of that filing...

  • Reply to

    Hipcricket Helps Virginia Lottery

    by kivkovich Dec 3, 2014 8:17 AM
    mitshu35 mitshu35 Dec 3, 2014 5:01 PM Flag

    Fidelity charges $7.95, but if you try to buy more than 10K at a time, you either have to enter more than 1 order or else call and have someone enter your order for a nice fee...either way, it costs more than standard commission on anything over 10K shares.

HIPP
0.00-0.01(-82.31%)Jan 21 3:57 PMEST

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