RDE Inc (GIFT)

[Penny Stocks 2.0]

Restaurant.com is OFFICIALLY Ubids.

[Penny Stocks 2.0]

Embattled Restaurant.com sold to uBid

Loop North News

March 17, 2020 8:15 am

Arlington Heights-based online dining gift certificate company Restaurant.com has been sold to the owners of uBid.com.
Atlanta-based uBid Holdings, Inc., owner of online auction websites uBid.com and skyauction.com, acquired Restaurant.com earlier this month for an undisclosed amount.

"We are delighted that Restaurant.com is going to be part of our uBid family and (the acquisition) solidifies our long-term strategy in becoming a significant online e-commerce platform," said uBid CEO Ketan Thakker.
uBid Holdings describes itself as "a diversified holding company whose strategic plan is to acquire interests in emerging businesses and [provide] financing, advice, and guidance to assist them in realizing their potential."
The sale comes as Restaurant.com is embroiled in a lawsuit filed by two company shareholders, who claim CEO Dr. Kenneth Chessick and his wife, Ellen Chessick of Chicago, ran the company in "self-interested and disloyal conduct" for years, resulting in a decline in revenue.
Adnan Adamji, who lives in the Chicago area and was once the company's Chief Information Officer, and Steven Schnall of New York, allege breaches of fiduciary duties and wrongful conduct in the lawsuit. In addition to unspecified damages, Adamji and Schnall want the Delaware Chancery Court to fire the Chessicks from the board of directors at Restaurant.com, strip them of their corporate titles, and make them give back "unjustly obtained compensation, expense reimbursement, and ill-gotten gains."

According to uBid Holdings, Restaurant.com generated $10.6 million in revenue last year. However, in 2011, the company generated $63 million in revenue, according to the lawsuit filed last November in Delaware. Revenue fell 52 percent in CEO's first four years at helm, according to the complaint.
The shareholders say nearly 6,000 participating restaurants left the program and company revenue dropped from $63 million in 2011 to $44 million in 2012, $41 million in 2013, and about $30 million in 2015.
In responses filed with the court on March 5, Chessick denied most of the lawsuit's allegations and says he has "striven at all times to ensure financial success for the company."
Chessick says that from 2013 through 2017, he loaned the company more than $1.3 million to help it meet operating expenses and "avoid financial collapse," but none of the loans were to him, personally.
Restaurant.com did not respond to numerous requests for comment.
• Content reprinted with permission of Loop North News, www.loopnorth.com.

[Ryanwoodle]

We will rebound from here, just watch!!

[Penny Stocks 2.0]

Restaurant.com generated $10.6 million in revenue last year. However, in 2011, the company generated $63 million in revenue, according to a lawsuit against the Chessicks that was filed last November in Delaware, where Restaurant.com was incorporated.

[Penny Stocks 2.0]

Beastly Acquistion....Restaurant.com sold as lawsuit against its board of directors continues in Delaware
RIVER NORTH
Not on a mobile device? Click here.
?
(Photo) A courtroom at Delaware Chancery Court, where two shareholders of Restaurant.com are suing the company's husband-and-wife board of directors.
By Steven Dahlman
15-Mar-20 - Embattled by lawsuits, consumer complaints, and declining revenue, Restaurant.com has been sold. The Arlington Heights company is led by two River North residents, Dr. Kenneth Chessick and his wife, Ellen Chessick.
uBid Holdings, Inc., owner of the online auction websites uBid.com and skyauction.com, says it has acquired Restaurant.com, which sells to consumers gift certificates good at thousands of restaurants nationwide.

"We are delighted that Restaurant.com is going to be part of our uBid family and [the acquisition] solidifies our long-term strategy in becoming a significant online e-commerce platform," said uBid CEO Ketan Thakker on March 3.
uBid Holdings describes itself as "a diversified holding company whose strategic plan is to acquire interests in emerging businesses and [provide] financing, advice, and guidance to assist them in realizing their potential."

According to uBid Holdings, Restaurant.com generated $10.6 million in revenue last year. However, in 2011, the company generated $63 million in revenue, according to a lawsuit against the Chessicks that was filed last November in Delaware, where Restaurant.com was incorporated.

Adnan Adamji, who lives in the Chicago area and was once the company's Chief Information Officer, and Steven Schnall of New York are suing Kenneth and Ellen Chessick, alleging years of "self-interested and disloyal conduct."

Their shareholder complaint alleges breaches of fiduciary duties and wrongful conduct. In addition to unspecified damages, Adamji and Schnall want the Delaware Chancery Court to fire the Chessicks from the board of directors at Restaurant.com, strip them of their corporate titles, and make them give back "unjustly obtained compensation, expense reimbursement, and ill-gotten gains."
Revenue fell 52 percent in CEO's first four years at helm, says complaint
Revenue at Restaurant.com climbed steadily, says the complaint, from $6.3 million in 2005 to $63 million in 2011. In 2012, Kenneth Chessick became its CEO and, according to Adamji and Schnall, "instituted drastic changes" to the company's business model, "despite the fact that he did not understand the company's business and never intended to devote sufficient time to the company to maintain the success of its business."
Because of the changes, the shareholders say, nearly 6,000 participating restaurants left the program and company revenue dropped from $63 million in 2011 to $44 million in 2012, $41 million in 2013, and about $30 million in 2015.

Kenneth Chessick is the company's largest shareholder. He and his wife comprise the company's entire board of directors. In responses filed with the court on March 5, he denied most of the lawsuit's allegations and says he has "striven at all times to ensure financial success for the company."
Chessick says that from 2013 through 2017, he loaned the company more than $1.3 million to help it meet operating expenses and "avoid financial collapse," but none of the loans were to him, personally.
He admits that the company's gross revenue declined from 2011 through 2015, and the number of participating restaurants declined in 2012 and 2013. In 2019 and 2020, "in light of the company's difficult and worsening financial position," Chessick says the company did seek potential buyers and investors.

A temporary restraining order to which parties agreed on February 28 prevents the Chessicks and Restaurant.com shareholders from receiving any proceeds from the company's sale to uBid Holdings until a motion for preliminary injunction is filed on or before April 8.

The Chessicks are represented by Delaware attorney Alan Albert of the Chicago law firm O'Hagan Meyer. Restaurant.com has never responded to numerous requests for comment.
Adamji and Schnall are represented by Douglas Cummings Jr. Citing a confidentiality order, Cummings declined to comment.
Along with a condominium unit in southwest Florida, the Chessicks own 15 condo units at Marina City in Chicago.

? Previous story: Restaurant.com lawsuit surfaces in Delaware
By Steven Dahlman | Loop North News | [e-mail]
Published 15-Mar-20 3:59 AM

[Penny Stocks 2.0]

$UBID MONSTER UPDATE »» Confirmation by courts on the Acquisition of Restaurant.com

In 2011 Restaurant.com was generating over $63,000,000.00

https://www.loopnorth.com/news/mobi/restaurant0315.htm

[tickerjoe]

I was thinking the same thing, if you're going to pump this at least get it to .50-$1.00
Lol

[Penny Stocks 2.0]

Bidders aren't getting much....

[Penny Stocks 2.0]

Over $25,000,000 combined Assets/Revenues

[Altitrade Partners]

There sure is a lot of pumping going on here:

https://investorshub.advfn.com/boards/Profile.aspx?user=215212

It doesn't appear to be having much of an effect on the stock price.

[Penny Stocks 2.0]

$UBID Updated SECURITY DETAILS »»»

Share Structure

Market Cap ?

3,929,052

03/12/2020

Authorized Shares

750,000,000

03/12/2020

Outstanding Shares

441,466,529

03/12/2020

Restricted

388,705,867

03/12/2020

Unrestricted

52,760,662

03/12/2020

Held at DTC

46,356,466

03/12/2020

Float

47,750,422

03/08/2019

Par Value

0.001

[Penny Stocks 2.0]

In February 2019, the triangular merger was completed. Started trading under the $UBID ticker. At that time they had $0 assets and revenue, since they'd added SkyAuction who generated revenues of $4,341,000 and last week acquired Restaurant.com who generated $10.6 million in revenue.

They use Weinberg and Company as their Auditor and Maxim Group LLC as their Investment Banker

They have also added Former Shark Kevin Harrington to the board of directors.

[Penny Stocks 2.0]

Very much so. Three ecommerce companies ubid.com Skyauction.com and newly acquired Restaurant.com

Under the umbrella of http://ubidholdings.com/

[clarence2society]

new to these parts... ss here looks legit. how bout the company itself

[Penny Stocks 2.0]

Amazing Share Structure»»

Market Cap ?

3,642,099

03/11/2020

Authorized Shares

750,000,000

03/05/2020

Outstanding Shares

441,466,529

03/05/2020

Restricted

388,705,867

03/05/2020

Unrestricted

52,760,662

03/05/2020

Held at DTC

46,356,466

03/05/2020

[Penny Stocks 2.0]

In 2019, retail e-commerce sales worldwide amounted to 3.53 trillion US dollars and e-retail revenues are projected to grow to 6.54 trillion US dollars in 2022. The top 3 online stores' revenue amounted to almost 100 billion US dollars in 2017.

[Penny Stocks 2.0]

$3m market cap vs $25,000,000 Asset/Revenue

[Altitrade Partners]

So is Christmas.

Not sure that any news can attract buyers to this disaster of a company.

Stick a fork in this one. It's done.

[The Night Stalker]

ok

[Penny Stocks 2.0]

SkyAuction generated revenues of $4,341,000 for the year-ended December 31, 2019, unaudited.

[Penny Stocks 2.0]

CLOSED DEAL...For the year ended December 31, 2019, Restaurant.com generated $10.6 million in revenue, unaudited. Founded in 1999, Restaurant.com is the trusted and valued source connecting diners, restaurants, and communities nationwide, offering more than 50,000 dining and merchant deal options at more than 15,000 restaurants and retailers to over 7.8 million customers. Restaurant.com brings people together to relax, converse, and enjoy their dining experiences at affordable prices. To date, Restaurant.com customers have saved close to $2 billion through their program

[Penny Stocks 2.0]

Sorry but the Annual statements are Audited by Weinberg and Company. Most people in the OTC never I heard of them because they normally deal with Nasdaq or NYSE firms, just like Maxim Group who is uBids Investment banker.

[Penny Stocks 2.0]

$3m MC...441m O/S...381m Restricted...47m FLOATER

[Penny Stocks 2.0]

Confirmed, lots of amazing updates coming. CEO says news is coming...

[Ryanwoodle]

News per CEO this week!!

[tickerjoe]

Heck not, just being sarcastic...lol

[Altitrade Partners]

Did you really believe him?

Typical penny-stock pump-monkey.

[The Night Stalker]

lol

[tickerjoe]

I noticed your not buying much

[The Night Stalker]

https://www.barchart.com/stocks/quotes/UBID/technical-chart?plot=CANDLE&volume=total&data=DO&density=X&pricesOn=1&asPctChange=0&logscale=0&indicators=RSI(12,100);NVI(255);ADXMOD(14);BBANDS(20,2);AROON(25);SMA(50);SMA(20);SMA(200);CCI(20,100);SMACD(12,26,9);STOSL(14,3);SMA(34);PCT(20,0.20);OBV&sym=UBID&grid=1&height=375&studyheight=150

[Ryanwoodle]

New dropping soon, get them cheap while you can!!!

[The Night Stalker]

it says 2020 how is it outdated

[tickerjoe]

Lol

[Altitrade Partners]

Ryanwoodle is attempting to pick up the slack, with a fly-by pump post.

Don't these guys realize that based on the volume in the shares that NOBODY is listening to their schtick?

[Ryanwoodle]

About to pop north hard!!!!

[The Night Stalker]

where did our pumper go lol

[tickerjoe]

Me too but always interested in other people's perspective that are holding a position. Good to know if there long or here for a quick flip

[Altitrade Partners]

If I could successfully make stock predictions, I would be a gazillionaire.

Your guess is as good as mine.

[tickerjoe]

not really like the pumpers on here altitrade, however I would like to get your thoughts on what you think this stock is heading fro a speculative view in the next 3 months then a year out. As it looks like they are starting to do things but the question to me is do they have the money in hand to revamp the online platform to be leading edge and start creating a buss about there space.

[Altitrade Partners]

Because that's what pump-monkeys do.

The stock message boards are rife with these nefarious creatures.

[The Night Stalker]

why lie anyways lol

[Altitrade Partners]

This guy is the ultimate pump-monkey.

Just look at his recent activity.

https://investorshub.advfn.com/boards/Profile.aspx?user=215212

These guys love to fudge the facts.

Like the saying goes "Don't let the facts get in the way of a good story.

For all of his efforts, he has failed miserably in his quest to attract buyers, (i.e., suckers).

[The Night Stalker]

its unaudited nice try tho

[Altitrade Partners]

Seriously ???

https://investorshub.advfn.com/boards/Profile.aspx?user=215212

[Penny Stocks 2.0]

$25,000,000 Assets/Revenues vs $4m Market Cap $UBID

[Penny Stocks 2.0]

Huge DD »»

Acquired Skyauctions.com and Restaurant.com

Skyauction Revenue $4.341 million

Restaurant.com Revenue $10.6 million

Current Assets over $10,000,000

OTCQB, Audited Financials, Maxim Group Investment Bank

Kevin Harrington on Board

441m Outstanding Shares
388m Restricted to Insiders
47m Float

Target $0.50+

Expect more Acquisitions and Up list to a National Exchange

[Penny Stocks 2.0]

$10.6 Million Acquisition, uBid Holdings Closes Acquisition of Restaurant.com

ACCESSWIRE

March 3, 2020, 8:30 am

ATLANTA, GA / ACCESSWIRE / March 3, 2020 / uBid Holdings, Inc. (OTCQB:UBID) (the "Company" or "uBid"), a diversified holding company, is pleased to announce the closing of the acquisition of Restaurant.com, Inc., which offers discounted restaurant certificates online and an incentive and loyalty program, at www.restaurant.com.
For the year ended December 31, 2019, Restaurant.com generated $10.6 million in revenue, unaudited. Founded in 1999, Restaurant.com is the trusted and valued source connecting diners, restaurants, and communities nationwide, offering more than 50,000 dining and merchant deal options at more than 15,000 restaurants and retailers to over 7.8 million customers. Restaurant.com brings people together to relax, converse, and enjoy their dining experiences at affordable prices. To date, Restaurant.com customers have saved close to $2 billion through their program.
Kenneth Chessick, Chief Executive Officer of Restaurant.com, commented, "We are really excited to join forces with uBid in building a diverse online e-commerce platform that can cross-sell across many different categories. Over the years, we have built a strong network of vendors, products, and customers. We look forward to implementing such strategies with uBid."

uBid Chief Executive Officer, Ketan Thakker, commented, "We are delighted that Restaurant.com is going to be part of our uBid family and solidifies our long-term strategy in becoming a significant online e-commerce platform. Restaurant.com has built a formidable and compelling business, which is demonstrated by its breadth of products and its loyal customer base."

Maxim Group, LLC is a Financial Advisor to the Company.

About uBid Holdings, Inc.
uBid Holdings, Inc. (OTCQB:UBID) is a diversified holding company whose strategic plan is to acquire interests in emerging businesses and provides financing, advice, and guidance to assist them in realizing their potential. It continues to identify and evaluate potential acquisitions that its Management believes it will create shareholder value and a return on investment. For more information, visit: ubidholdings.com
Ubid, Uwin, Usave, it is all about U! It isn't just a clever tag line; it spells out exactly how uBid feels about what it does. Whether it is computers, memorabilia, or household goods, uBid has a single-minded focus on saving you money by allowing you to determine how much you pay for any item. uBid makes the process easy to understand, engaging, and fun. Its customers are its inspiration; they motivate uBid to seek out better, more valuable products, allowing uBid more opportunities to save money by determining what its customers want to pay for it. Its online marketplace provides the perfect outlet for manufacturers, retailers, distributors, and other suppliers to sell all types of products to a base of highly motivated consumers. For more information, visit https://ubidholdings.com.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ubid-holdings-closes-acquisition-restaurant-133000187.html

#UBID

[Penny Stocks 2.0]

Really, 1.3m volume, up 40%...and only a 47m share float, VWAP was $0.012, hardly any dumping.

Let's keep it real!!

$UBID

[WealthyBuy]

LOTS of..DUMPING...GOING..ON..TODAY..DANGER

[Penny Stocks 2.0]

Great day, looking for a continued slow steady climb to value, $0.50+ minimum.