Local.com aussichtsreich

Ein Motiv könnte meines Erachtens sein, dass das Management den Aktienkurs zu bashen versucht, um den Eindruck zu erwecken, dass die Aktie nichts wert sei, was aus meiner Aussicht das Verkaufen der Assets zu Dumpingspreisen an die Kumpels und Kumpelinnen des Managements erleichtern würde.  

8-K Report
Major developments that investors should know about are described in the 10-K or 10-Q, but if those developments don't make the two filings in time, they are presented in the 8-K. This unscheduled document addresses specific events and provides further detail and exhibits, such as data tables and press releases.
Events that lead to the filing of the 8-K include a bankruptcy or receivership, material impairments, completion of acquisition or disposition of assets, departures or appointments of executives and other events of importance to the investor.


http://www.investopedia.com/articles/...tal-analysis/08/sec-forms.asp  

$2,168,329 increased Total Equity of 1,431,190.85 from the amount of $ 2,976,16.12 in 07/2015 to $4,407,372.97 in 08/2015.

The increase of the Total Equity of 1,431,190.85 in only 1 month from the amount of $ 2,976,16.12 in 07/2015 to $4,407,372.97 in 08/2015 can only be the result of a sale of assets over book-value, because there was a loss from operating activities of $737,138.

If you now add the increase of the Total Equity of 1,431,190.85 and the loss from operating activities of $737,138 = $2,168,.329 ? this number must be the amount of sales of assets above book-value.
 

Every amount of assets (without Total Current Assets) above 17,151,079.03 are value of the shareholders

Sensational progress in only one month

Total Current Assets and Total Liabilites at 08/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA

Total Current Assets $14,683,187.46

TOTAL LIABILITIES $31,742,358.49

Net-Position of Debts = 17,151,079.03

Total Current Assets and Total Liabilites at 07/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA

= 13,122,163.63

Total Liabilities = 31,612,525.52

Net-Position of Debts = 18,490,361.89
 

What is the value of the directory of Local Corp?

Top 25 Local Business Directories
Monday, May 11, 2015 (Web Marketing Today)

At Web Marketing Today, we talk a great deal about the value of claiming your business listing in local directories, such as Angie?s List and Yelp.
Local directories are important for three reasons:

o They routinely appear in search results for local information;

o A local search is often the last stop before a consumer takes action;

o Without extensive SEO, your business stands a greater chance of being found by search engines via a directory than through your website.

Local Corp is part of the list of twenty-five of the top directories ? arranged alphabetically ? where you can claim your listing. Most are free. In some cases, directories offer both free and premium listing service
? Over 16 million business listings

? Search and filter functionalities

? Social Media, video and map integration

? White label to maintain your brand

? High RPM from ad partners

? Mobile-optimized

? Multiple configurations

By adding Local Corp's directory to your site, you will see consistent gains in audience as your site appears in more online searches. Our technical account management team manages the content integration and optimization, along with proactively address any algorithmic changes, keeping your traffic growth upward moving. Plus, we have deep and long-lasting relationships with the largest advertising partners, providing you with access to the most lucrative monetization opportunities  

What is the value of 3,484,174 Unique Vistors on the flagship-site?

3,484,174 Unique Vistors in August after 3,386,407 in July on the flagship-site are a first stabilization.  

Value of the 14 Issued Patents of Local Corp?

Searches Assisted by Multi-Level Menus
7,062,453
08/31/00

Search Selections with Supplier Information
7,890,378
12/14/05

Dynamic adjustment of Telephone Listings
7,596,218
05/30/03

Dynamic adjustment of Telephone Listings
8,306,208
08/07/09

Directory assistance using keywords
7,200,413
07/30/03

Bidding for directory assistance
7,715,857
03/23/06

Bulk Web Domain Generation
8,312,125
03/12/10

Geocoding related Webpages
7,231,405
01/10/05

Indexing Found Geocodes with Webpages
7,822,705
06/11/07 Indexing Found Geocodes with Webpages
8,176,082
09/22/10

Provision Of Localized Shopping Based On Geocodes
8,032,427
04/03/07

Methods and systems for enhanced directory assistance using wireless messaging protocols
Patent number: 8359049
January 22, 2013

Technique for locating relevant advertisements through the use of semantic keyword searches with claims directed to software, systems and methods in which semantically related keywords may be used to locate relevant fee generating advertisements that may monetize better than other available response ads.
Patent number 8,725,572
May 13, 2014

Search Engine and Indexing Techniques: A local search engine geographically indexes information for searching by identifying a geocoded web page of a web site and identifying at least one geocodable web page of the web site. The system identifies a geocode contained within content of the geocoded web page of the web site. The geocode indicates a physical location of an entity associated with the web site. The system indexes content of the geocoded web page and content of the geocodable web page. The indexing including associating the geocode contained within content of the geocoded web page to the indexed content of the geocoded web page and the geocodable web page to allow geographical searching of the content of the web pages.
Patent number: 8972371
Mar 03, 2015  

Fraud by Local Corp - CFO Cragun ignore that by disposition of assets a 8-K report is necessary

Cash and Total Equity increased 1,431,190.85 in only one month from July to August ? and the change can only be a sale of assets which was not part of balance - for example patents without a capitalization.

Important Balance-Positions 08/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA
Total Current Assets 14,683,187.46
Net Property, Plant, and Equipment 519,823.00 (21,135,233.00 ? 20,615,410.00 Accumulated Depreciation)
TOTAL LIABILITIES 31,742,358.49
Net-Position of Debts 17,151,079.03
Total Equity 4,407,372.97

Important Balance-Positions 07/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA
Total Current Assets 13,122,163.63
Net Property, Plant, and Equipment 519,823.00 (21,135,233.00 ? 20,615,410.00 Accumulated Depreciation)
Total Liabilities = 31,612,525.52
Net-Position of Debts = 18,490,361.89
Total Equity $2,976,162.12


The value of the 14 patents of Local Corp is not part of the balance, because they were near all developed with the money of the existing shareholders of Local Corp and Local Corp had never done a capitalization of development costs for the 14 valuable patents.

CFO Cragun ignore that by disposition of assets a 8-K report is necessary

8-K Report: Major developments that investors should know about are described in the 10-K or 10-Q, but if those developments don't make the two filings in time, they are presented in the 8-K. This unscheduled document addresses specific events and provides further detail and exhibits, such as data tables and press releases. Events that lead to the filing of the 8-K include a bankruptcy or receivership, material impairments, completion of acquisition or disposition of assets, departures or appointments of executives and other events of importance to the investor.
 

Very important is, that the name of the buyer were annouced, the sold asset (for example a patent or a group of patents) and the price of the sold asset.

Because the shareholders need the information, that the assets were not sold for dirty prices to cronies of CEO Fred Thiel, CFO Ken Cragun, CLO Scott Reinke or members of the board, who prouduced together a not needed chapter 11.  

Value of the Pay Per Call-Offers/Infrasturcture/Patents?

Pay-per-call demand is poised

According to BIA/Kelsey, $64.6 billion is spent annually across various types of media on
local ads ? from merchants as well as ad agencies, networks and major retailers ? to
generate calls to businesses.2 Considering that worldwide mobile phone penetration is projected
to reach 70% in 2014, with nearly two-fifths (1.75 billion) owning a smartphone,3
and with the proliferation of mobile phone use for searches, pay-per-call demand is poised
to increase. Additionally, call volume to businesses through mobile search is projected to
explode ? from about 30 billion calls per year in 2013 to 73 billion by 2018. Less

"We believe our unique local search traffic is very valuable for publishers and advertisers, our mobile search and programmatic solutions provide distinct advantages and our patents, in particular our pay-per-call family, are very valuable."

Source: Transcript of the last Conference Call of Local Corp direct at Seeking Alpha  

Value of Local Corp's Programmatic Infrastructure?

The pie is growing (fast).
Programmatic buying is on track to make up $14.88 billion of the approximately $58.6 billion digital advertising pie this year, according to eMarketer. That's a nearly $5 billion leap from 2014, when it accounted for $9.9 billion.
adage/article/print-edition/10-things-programmatic-buying

.Local Corp has an infrastructure in place to begin and Local Corp had begun executing programmtic campaigns: Built a proprietary cross-platform data tracking tool and added third party media buying platforms to leverage and monetize first party search intent data
1. Step of Programmatic Workflow: Consumer visits publisher site
2, Step of Programmatic Workflow: Publisher Ad Server
- Any premium buyers?
- What is known about this consumers?
3. Step of Programmatic Workflow: SSP (Supply Side Platform)
- Adds logic on consumer
- What is known?
- Has consumers been seen before?
4. Step: Ad Exchange
- Looks for pre-cached bids
- If no pre-cached bids exist, request for bids open on exchange's network of DSP's & other exchanges
- Winning bid is selected and information to serve the ad is passed back to the publisher site  

http://www.nquerybylocal.com/

Our search. Your rewarding experience.
A custom mobile search solution for carriers
 

The next Tesla or the mobile equivalent of the Nest thermostat?

Local Corporation (LOCM) now powers search for US Cellular (USM) and TracFone (AMX) with huge growth potential

April 08, 2015

Local Corporation (LOCM) now powers search for US Cellular (USM) and TracFone (AMX) with more carriers in negotiation, according to sources.

(1888PressRelease) April 08, 2015 - This is big new for Local Corporation (LOCM) as it further it's reach into new markets. These deals could represent huge gains for Local Corp as they seek to further their mobile reach. With a combined customer base reach of over 30 million this represent a huge win for Local Corporation.

Needless to say, Local Corporation's move to mobile just got a huge shot in the arm as the revenues from these agreements could be huge. Mobile has taken over as consumers spend time on their devices and Ad Revenues are projected to surpass Television. Local Corporation stands in very good footing as it works to partner with other carriers and providers.

Local Corporation's NQuery product really represents a shift in the company's mindset as it seeks to re-make itself. It is already paying dividends and hopefully future quarters reflect that. With costs cut and Local Corporation's lean mentality they are uniquely positioned to make a huge turn around. The amount of growth potential alone is tremendous with over 7.2 Billion mobile devices, over 43% of all Google searches being local, and 78% of local searches resulting in some type of offline action according to comScore. All of this means that LOCM may have just hit the jackpot with its new product line.
Some facts about nQeuery by Local from LOCM - Roth Presentation - March 2015

Growing mobile searach demand

- 20 Million unique visitors per month

Market expansion
- 18 countries (LATAM + US)
- EMEA & APAC expected by 2H 2015

Platform expansion
- Enhaicing paid content
- Enter into Default search via browser - expected 2H2015

Surce: LOCM - Roth Presentation - March 2015
 

Meines Erachtens war das der Grund, warum das Management unbedingt Chapter 11 ausrief, obwohl es meines Erachtens völlig unnötig war.

So kann man sich jetzt nQuery besser unter den Nagel reißen.  

Aber ganz so einfach dürfte das nicht werden. denn gibt ja noch den Judge Clarkson vom zuständigen Bankrupty Court, der durch die rege Diskussion auf den US-Boards, den Fall auch aufmerksam begleiten dürfte, den US-Trustee, die SEC und den General Attorney von California.

Und schließli9ch lässt sich auch noch das Mangement und der Board verklagen, was natürlicher einfacher wäre, wenn z.B. vorher im straftechtlichen Bereich auch schon Untreue festgestellt worden wqäre.  

über die Erhöhung des Eigenkapitals im August:

"Die Gesamtergebnisrechnung, auch nach dem englischen Begriff statement of comprehensive income genannt, ist ein Bestandteil von Konzern- oder Einzelabschlüssen, die nach den International Financial Reporting Standards (IFRS) (IAS 1.10), den United States Generally Accepted Accounting Principles (US-GAAP) oder einigen anderen Rechnungslegungsstandards aufgestellt werden. Sie soll die Entstehung des Gesamtergebnisses der Berichtsperiode eines Konzerns- oder Unternehmens erklären. Das Gesamtergebnis ist die Summe des Gewinnes- oder Verlustes der Periode und des sonstigen Gesamtergebnisses. Der Gewinn- oder Verlust der Periode, der bei Jahresabschlüssen dem Jahresüberschuss oder -verlust entspricht, ist die Summe aller ergebniswirksamen Erträge abzüglich die Summe aller ergebniswirksamen Aufwendungen der Berichtsperiode. Das sonstige Gesamtergebnis, das auch mit dem englischen Begriff other comprehensive income bezeichnet wird, ist die Summe aller ergebnisneutralen Erträge abzüglich der Summe aller ergebnisneutralen Aufwendungen der Berichtsperiode. Das deutsche und österreichische Bilanzrecht kennen die Gesamtergebnisrechnung nicht. Hier werden der Erfolg und seine Quellen in der Gewinn- und Verlustrechnung dargestellt."
https://de.wikipedia.org/wiki/Gesamtergebnisrechnung
 

wäre für den Monat August ein Gewinn von 1.431.190,85 ausgewiesen worden, wenn wie hier bei Chapter 11 das Ergebnis monatlich ermittelt wqrden wäre. Man hätte dann in den Erläuterungen noch lesen können, dass das Betriebsergebnis negativ gewesen sei, was aber durch positive neutrale Erträge überkompensiert worden sei.

Cash and Total Equity increased 1,431,190.85 in only one month from July to August ? and the change can only be a sale of assets which was not part of balance - for example patents without a capitalization.

Important Balance-Positions 08/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA
Total Current Assets 14,683,187.46
Net Property, Plant, and Equipment 519,823.00 (21,135,233.00 ? 20,615,410.00 Accumulated Depreciation)
TOTAL LIABILITIES 31,742,358.49
Net-Position of Debts 17,151,079.03
Total Equity 4,407,372.97

Important Balance-Positions 07/31/2015 after UNITED STATES DEPARTMENCE - OFFICE OF THE UNITED STATES TRUSTEE - CENTRAL DISTRICT OF CALIFORNIA
Total Current Assets 13,122,163.63
Net Property, Plant, and Equipment 519,823.00 (21,135,233.00 ? 20,615,410.00 Accumulated Depreciation)
Total Liabilities = 31,612,525.52
Net-Position of Debts = 18,490,361.89
Total Equity $2,976,162.12

 

The most important reason, why CFO Cragun produced the not needed financing in April and the not needed Chapter 11 in June was that he believe, he could steal together with his cronies nQuery by Local through a dirty sale.

Ob er damit durchkommt, ist schwer zu beurteilen. Ich beurteile die Chancen besser, als sie sich im momentan absurd niedrigen Kurs widerspiegeln.  

da bist Du Jahrelang investiert und reibst Dich täglich auf...
und zum Schluss ist alles futsch.

Blue Chips sind wohl doch der bessere Weg

IMO

But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of the balance, because they were near all developed with the money of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets in thwe balance. Local Corp had never done a capitalization of development costs for the14 valuable patents.

If Local Corp had done such a capitalisation, the difference between assets and debts would be a lot higher than reported. If the patents were capitaliized, too, the differend between assets and debts would be a lot higher

The United States Bankruptcy Court for the Central District of California should overtake the sale of the 14 patents to a Trustee, because there is the danger, that CFO Cragun makes ditry dales to his cronies.

Part of the agreement about the sale of the 14 patents and Krillion should be, that Local Corp could for offered products use some of this patents for free or against a fee.

United States Bankruptcy Court for the Central District of California should hurry with the overtake of the sales. After my estiImates, which basing on the messages of CEO Thiel and CFO Cragun, could Local Corp wth the monetisation of the patents and Krillion pay back all debts.  

- entgegen meinen weiter oben geäusserten Befürchtungen - nachwievor bei Local Corp.

http://www.google.com/patents/US7062453

Und sogar noch besser: Es ist nicht mehr als Kreditsicherheit eingesetzt, sondern sei Mai frei.  

8. Mai 2015 AS Assignment
Owner name: LOCAL CORPORATION, CALIFORNIA

Free format text: RELEASE BY SECURED PARTY;ASSIGNOR:SQUARE 1 BANK;REEL/FRAME:035600/0603

Effective date: 20150506
 

ist weiterhin im Eigentum von Local Corp:

http://www.google.com/patents/US8032427

Und auch hier sogar noch besser: Es ist nicht mehr als Kreditsicherheit eingesetzt, sondern sei Mai frei.  

Methods and systems for a dynamic networked commerce architecture - US 7062453 B1

One embodiment of the present invention provides systems and methods, which allow a more efficient shopping experience. A cascading commerce menu provides access to a plurality of product, service, and/or content categories. In one embodiment, the cascading commerce menu is stored on a client computer, thereby providing quick access to the menu.

Last announcement
8. Mai 2015 AS Assignment
Owner name: LOCAL CORPORATION, CALIFORNIA
Free format text: RELEASE BY SECURED PARTY;ASSIGNOR:SQUARE 1 BANK;REEL/FRAME:035600/0603
Effective date: 20150506

CEO Thiel some months ago and therefore investors must believe, Thiel will get a lot of millions and can easy repay the old convertible debts of only 5 million in April 15.

"Income from settlement and patent licensing
During the third quarter of fiscal 2014, we reached a settlement agreement in the patent infringement action against Fry?s Electronics, Inc. As part of the settlement agreement, we received a one-time patent license fee payment of $700,000 related to prior infringement of our patent.

We have identified hundreds of websites and applications that we believe infringe upon this patent and believe there are likely thousands more. We have set a clear course to begin the process of licensing this patent and expect to continue to report the results of these monetization efforts with greater frequency. Overall, we currently believe that a conservative estimate of potential future licensing fees that could be generated from this patent is $100 million."

 

dieses wertvolle Patent unter Preis verkloppt haben, weil das Eigenkapital im August gestiegen ist, scheint nicht der Fall zu sein - immerhin ist das beruhigend.

Denn dafür wäre mir der an sich ordentliche Anstieg zu gering.