YOU COMPLAIN ALL THE TIME - I'm shocked that you have to ask anyone about the process
you're not an expert on the process of complaining yet? That's a shock
take away half for Yahoo terminating and then use a generous realistic multiple of 0.6 like Wainwright did before this thing was in bankruptcy and you've got $19 million. Pay debts, operating losses and bankruptcy expenses and there's less than nothing left for equity holders.
how does a proxy war analogize, proxy's are fights for shareholder votes - shareholders don't get a say in anything that goes on with LOCM any more, if anything the phrase you're looking for is a bidding war, that would have already materialized as LOCM shopped itself with the help of an investment bank. That's the bankers job, to get a bidding war going. Look how well that worked out.
because there's no value in it, they paid LOCM but LOCM couldn't make money with what Google and Yahoo paid them. If LOCM's services went away, no one would notice. The business would easily get absorbed by others.
The only thing LOCM potentially has is their IP. Now, given that they settled with Fry's prior to going to trial and getting a ruling, after litigating for years, and given that there was a mysterious "administrative issue" associated with the patent that LOCM never explained, and given this from 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."
the logical conclusion is that LOCM's IP is worth very little, if anything.
either company can replicate the revenue on their own and pay LOCM nothing for the privilege. Even if there was some value in what they have, $20 million works out to $0.10/share after debt and it will take 18 months to get it.
whatever you're left with is chump change compared to the risk - and given that you lied about your "profit", you probably lied about the position anyway.
Don't get hurt giving yourself a pat on the back.
is the elusive short squezze (sic) finally here? For those that bought at $6 when flanky was predicting this would occur, it's not much consolation. For the penny stock traders eking out fractions of a cent on trades, this stock is going to be a bonanza.
highest yields? Yield refers to value of current payments, companies with wrecked balance sheets by definition will have to pay higher yields to attract capital.
Companies with the greatest total returns this year do not have the worst financials.
$20k of cash and no access to its line of credit - that's a bona fide liquidity problem. So glad they got rid of Square One and signed up with a better lender in Fast Pay
Local said it had $20,000 in cash as of June 22, and that its cash is covered by a lien in favor of Fast Pay Partners LLC, owed about $2.3 million.
The company wants to use cash representing collateral for Fast Pay’s claim, saying the lender is protected by $8.4 million in accounts receivable and intellectual property assets, including 13 “valuable” patents.
Calling itself Local’s primary perfected secured creditor, Fast Pay objected, contesting the value of the receivables.
Cash use would “seriously impair” Fast Pay’s collateral position, it said. If the court grants Local’s request, Fast Pay said it wants initial use for no more than a week on a “very restricted” basis.
Maybe Judge Scott C. Clarkson will take over as CEO, or better yet, take over as chairman and appoint Heath Clarke to be CEO again.
stannguru parroting Ken Cragun's statements over the years in an effort to induce others to buy worthless securities of Local Corpse makes him an accessory to fraud. I am sure the FBI is investigating and the Justice Department is preparing the extradition paperwork to be filed well before there's ever a short squezze (sic) in Local Corpse's stock.
Scott Reinke is one of those management members that bought into the Series B converts - he already showed what he thought of the stock when he unloaded every share he could just as soon as he could.
And he's doing it all with the Judge's blessing.