There isn't any info you can point to that substantiates this, no one but HIPP principles know if anyone else is bidding, I doubt it! The delay in the auction to March 9th is due to objections regarding the sale form previous employees and others. Yahoo's involvement has only been to seek relief for the automatic stay so they could attend a meeting on pending litigation, that is well documented in the public record.
Sito's aquisition will increase revenues. If successfull they could reach 35-40 Mil. Sito produces 2X rev per person than HIPP. People are betting on SITO management and SITO's product mix. If they see a process that delivers 1/2 the Revs they will change it to they way they do it. They indicated they are increasing Revs on a continuing basis plus the aquisition. The growth could be substantial. I think just to complete the Aquisition plus grow their existing revs gives them a value of a buck.
According to the very recent presentation on their website they indicated clearly that the R/S is to meet the final criteria to uplist to another exchange, probably the NASDAQ. If executed properly the net effect on the stock price should be negligible. To just split and not uplist concurrently might weigh on the price, however, to split and uplist brings in new investors and if their fundamentals continue to improve the share price could actually go up. They anticipate R/S sometime in the next two quarters.
HIPPs revenue is closer to 50/50 advertising and marketing. If all their clients ran away they would have filed chapter 11 much earlier, simply look at their disclosed cash and burn rate which indicates they have about the same revenue coming in. They are still in business. Most clients are not going to cancel campaigns that are ongoing. SITO is already involved. SITO's model is different than HIPP's. SITO produces twice the revenue that HIPP does on a per person basis. SITO makes equivalent revenue with half the number of employees. SITO's model works. SITO isn't suing anyone they are seeking licensing agreements which is what HIPP should have done long ago.
recent purchase of HIPP adds 27 Mil in revs plus they are project something like 15 so in two months they will be a 42 Mil rev company with no debt