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Good Morning Blue_Horseshoe, momentum74, everyone should see a nice steady rise this week. Hopefully people have come to their senses this weekend and will start buying our little gem here.
next week should be another interesting week here.
Google street view picture of our office. Always nice to know that the company is located in a nice building!
http://maps.google.com/maps?hl=en&source=hp&q=12001+Ventura+Place+Suite+340+Studio+City,+CA+91604+&ie=UTF8&hq=&hnear=12001+Ventura+Pl,+Los+Angeles,+California+91604&ll=34.144017,-118.393438&spn=0.001623,0.003455&t=h&z=19&layer=c&cbll=34.14398,-118.393334&panoid=k4-dv4f_AiQ0YMtwpqE0Nw&cbp=12,28.41,,0,-25.1
buys outnumbering sells 1,228,833 vs 837,793. I think were do for a move north imo
TIXC is getting a bullish MACD divergence link
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve
the more research i do the more i am liking this company. I am in right now with just trading funds but am thinking of taking a long term position here at these prices. Can anyone point out any serious flaws in this company? I for one cant seem to find any.
ya there is still selling pressure....
hmmmmm...thought this would have gone above 2 today. Must still be some sellers out there. With the good news from today and the solid company that is TIX i think this is way undervalued.
averaged down a bit... will hold
could see $2.50 ++ today imo
...discount tickets to customers increased 39% to $19.5 million.
***NEWS!!!*** Tix Corporation Announces Tix4Tonight Expansion with 8th Las Vegas Location
Nov 20, 2009 8:00:00 AM
Copyright Business Wire 2009
Town Square Shopping Center Location Positioned to Reach Local Audience
STUDIO CITY, Calif.--(BUSINESS WIRE)-- Tix Corporation (Nasdaq: TIXC), an integrated entertainment company, today announced that it has entered into a new lease for its eighth Tix4Tonight discount ticket outlet, to be located at the Town Square Shopping Center in Las Vegas. Opening is scheduled for December 2009.
Town Square Shopping Center is a heavily-trafficked mall located about a mile south of Mandalay Bay near the Las Vegas McCarran Airport. It is uniquely designed with a feel of small-town America. Since its opening about a year ago it has attracted both locals and visitors alike.
"Our presence at this lively and attractive new mall will allow Las Vegas residents greater access to our discount show tickets, discount dinner and golf reservations. We are excited about the opportunity to provide locals with a first class discount ticket-buying experience to high-quality, affordable entertainment at a location they are probably already frequenting," said Mitch Francis, Chairman and CEO of Tix Corporation. "We expect to reach this additional customer segment without incurring significant additional operational overhead."
Open daily at 10 AM, Tix4Tonight offers same-day tickets to more than 70 Las Vegas shows and attractions at discounts of up to half off the box office price. Each location also offers discount tee times through Tix4Golf and discount meals through Tix4Dinner, which typically books more than 30,000 restaurant reservations each month to popular Las Vegas restaurants.
The Company's discount ticketing division, Tix4Tonight, increased the number of discount show tickets sold by 22% to 344,000 tickets in the third quarter of 2009 compared to the comparable period in the prior year. The gross sales value of discount show tickets sold, commissions and fees earned on the sale of discount tickets to customers increased 39% to $19.5 million.
About TIX Corporation
Tix Corporation (Nasdaq: TIXC) is an integrated entertainment company providing discount and premium ticketing services, event and branded merchandising, and production/promotion of live concert and theatrical events. It currently operates seven prime locations in Las Vegas under the Tix4Tonight marquee, and offers up to a 50 percent discount for same-day shows, concerts, attractions and sporting events, as well as discount reservations for golf and dining. The Company also offers premium tickets to concerts, theater and sporting events throughout the United States under its Tix4AnyEvent.com brand. The Company's Exhibit Merchandising operation is engaged in branded merchandise development and sales activities related to museum exhibitions and other events, including the King Tutankhamun and Real Pirates tours; selling themed souvenir memorabilia and collector's items in specialty stores in conjunction with the specific events and venues. Tix Productions is dedicated to live concert and theatrical promotion and production throughout the United States, Canada and Europe and operates under the banners of Magic Arts & Entertainment and NewSpace Entertainment.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the Company's various filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements.
Source: Tix Corporation
----------------------------------------------
Makovsky + Co.
For Media:
Michael Goodwin
212-508-9639
mgoodwin@makovsky.com
or
For Investors:
Gene Marbach
212-508-9645
gmarbach@makovsky.com
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Daniela Viola
212-508-9676
dviola@makovsky.com
today should be FUN!!!!!!!
Posted by: Blue_Horseshoe Date: Sunday, March 30, 2008 10:08:10 PM
In reply to: Blue_Horseshoe who wrote msg# 44 Post # of 56
met a major shareholdr in this company last week. I like what he had to say....
I'm sorry - pinksheets is not the best place to go since this is a fully reporting NASDAQ company. Besides, there is NOTHING in the filings to indicate any sensible reason for the sell off. The largest shareholder has been on a buying spree spending over $4M the past few months and I will venture to say he is buying A LOT more down here.....
THIS WAS A SHORT ATTACK BROUGHT ON BY A FEW ROGUE SELLERS HITTING MM's with shares. The mm's then turned around and sold them back to other mm's creating a rapid downward spiral.
Go to Pink Sheets.com to find out what happened. Here are some quotes from recent 8K filed 11/9
Mitch Francis, CEO of Tix Corporation
Revenue from the Company's premium ticketing division, Tix4AnyEvent, was $26,000 compared to $336,000 in the prior year comparable period. The $310,000 decline in revenues is primarily the result of an overall decline in demand for premium tickets due to the poor economic environment nationally, which has led to a decline in discretionary spending.
“Tutankhamun and The Golden Age of the Pharaohs” and “Tutankhamun the Golden King and the Great Pharaohs” are currently booked in museums through July 2011 and December 2012, respectively. During the third quarter of 2009, although there was a 46% increase in attendance to the exhibits, there was a 35% decrease in revenue per attendee. The decline in revenues per attendee is the result of generally poor economic conditions, as well as a competing store at one of the exhibit locations, which management believes resulted in a $134,000 decline in revenues, which has been partially offset by a renegotiation of terms.
Tix Productions (TPI), which produces and presents live entertainment events, recorded a decline in revenue of 6% to $2.5 million for the third quarter, compared to the prior year period. Operating loss for the quarter was $(818,000) compared to $(500,000) in the prior year period. The decrease in revenue was due to several factors including..............
Dfntly good sign for tomarrow...see the the CEO's message on this...there is no reason to fall!!!
tomarrow's good play...IMO!!!
1.86 now in the AH good sign for tomorrow imo
yep. Some shares came out. MM's bought them then turned around and sold them to other mm's who turned around and sold them and created a panic sell off with some REAL sellers it seems. i'm DEFINITELY a buyer.
TIXC news out link pasted. I think this stock is down 7 days in a row because of a short attack. Looking for a bounce trade tomorrow imo
http://ih.advfn.com/p.php?pid=nmona&article=40440999&symbol=TIXC
Tix Corporation Addresses Recent Stock Volatility
Date : 11/19/2009 @ 3:55PM
Source : Business Wire
Stock : Tix Corporation (TIXC)
Quote : 1.82 -0.754 (-29.29%) @ 4:43PM
Tix Corporation Addresses Recent Stock Volatility
Tix Corporation (Nasdaq: TIXC), an integrated entertainment company, in response to shareholder inquiries, today announced that it is unaware of any new developments concerning its business operations that could account for the recent sharp decline to the current market price of the Company's common shares. As previously disclosed in the earnings release for the third fiscal quarter of 2009, the Company expects continued revenue growth and improved profitability for the fourth quarter.
”As a matter of policy, the Company generally does not address trading trends of its stock,” said Mitch Francis, Chairman and CEO of Tix Corporation. “However, given the recent unprecedented stock price decline and shareholder inquiries we thought it appropriate to communicate to our shareholders.
”The fundamentals of our business remain unchanged. We continue to believe that we have a strong fourth quarter ahead of us in light of the strong line up of classical and new productions, most notably among them the recently launched 101 Dalmatians – The Musical. We also anticipate synergies from our integrated business model.
“Our financial position remains strong with cash balances and no debt.”
About TIX Corporation
Tix Corporation (Nasdaq: TIXC) is an integrated entertainment company providing discount and premium ticketing services, event and branded merchandising, and production/promotion of live concert and theatrical events. It currently operates seven prime locations in Las Vegas under the Tix4Tonight marquee, and offers up to a 50 percent discount for same-day shows, concerts, attractions and sporting events, as well as discount reservations for golf and dining. The Company also offers premium tickets to concerts, theater and sporting events throughout the United States under its Tix4AnyEvent.com brand. The Company's Exhibit Merchandising operation is engaged in branded merchandise development and sales activities related to museum exhibitions and other events, including the King Tutankhamun and Real Pirates tours; selling themed souvenir memorabilia and collector's items in specialty stores in conjunction with the specific events and venues. Tix Productions is dedicated to live concert and theatrical promotion and production throughout the United States, Canada and Europe and operates under the banners of Magic Arts & Entertainment and NewSpace Entertainment.
Safe Harbor Statement
noticed dropped 070 cents to 1.80? why? are you a "bouncer"?
tia
GL
Just picked up some TIXC for a trade bottom bounce.
Recently uplisted here from OTCBB to NASDAQ. WEEEE.
interesting stock eh???
This one is very tightly held and could use some more volume and liquidity, but i will keep this on watch for now...
met a major shareholdr in this company last week. I like what he had to say....
you all seem to pick great picks, I'm trying to get on the next pick list...lol
anyone here know where Erik G. is?
I haven't seen or heard from the guy in a while and wanted to know if he's doing ok...
thanks for any replies...
TIXC $8.00!....)
Love the way TIXC is behaving. Glad I took a sizeable position in this one earlier. Long term hold, indeed!
This is a lonely looking board. TBLC is a company to watch, to invest in and to make many multiples of the current pps. After watching the company and the pps, performing due dilly to the point where I am satisfied started my position this morning @5.75. My goal is to watch this company perform over the next few years to become a giant in it's uniqued sector of the entertainment industry. YALE
NEWS:
Tix Corporation Announces $1 Million Increase in Gross Ticket Sales in January 2007 as Compared to January 2006
Thursday February 8, 3:11 pm ET
STUDIO CITY, Calif., Feb. 8, 2007 (PRIME NEWSWIRE) -- Tix Corporation (OTC BB:TIXC.OB - News) (the ``Company') is pleased to announce that its Las Vegas half-price, same-day ticket business, Tix4Tonight, reported record gross ticket sales in January 2007 of $2,263,787, which represented an increase of $1,104,564 or approximately 95% as compared to January 2006 gross ticket sales of $1,159,223.
The Company increased its total ticket sales by over 13,000 additional tickets in January 2007 as compared to January 2006, with January 2007 ticket sales including additional discount offerings from Tix4Golf and Tix4Dinners. Tix4Golf offers discount golf tee times for over 35 courses in Las Vegas for both same-day and advanced bookings, and Tix4Dinners offers up to 50% off entrees at various Las Vegas restaurants.
Tix Corporation's wholly-owned subsidiary, Tix4Tonight, sells tickets for Las Vegas shows, concerts, attractions and sporting events at half-price, on the same day of the performance.
Tix4Tonight has four prime ticket booth facilities, strategically placed at highly foot-trafficked locations in Las Vegas, Nevada. They include the Hawaiian Marketplace at the South end of the Strip, the Fashion Show Mall in front of Neiman Marcus, directly across the street from the new Wynn Resort at the middle of the Strip, North Strip, just South of the Riviera Hotel, and a downtown Las Vegas facility in the Four Queens Hotel, fronting onto the Fremont Street Experience.
For more information and answers to typical questions about how the Tix4Tonight service works, call 877-849-4868 or visit http://www.tix4tonight.com.
Cautionary Statement pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:
All statements in this news release that are not statements of historical fact are deemed to be forward-looking statements. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Many of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements. This document is only for the general information of shareholders, potential investors and other interested parties, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The opinions expressed herein are the current opinions of management as of the date appearing on this document.
Contact:
Tix Corporation
Mitch Francis, Chief Executive Officer
(818) 761-1002
--------------------------------------------------------------------------------
Source: Tix Corporation
HELLO! NEWS!!
Tix Corporation Announces Record High Fourth Quarter Revenues and Triple Digit Increase in December 2006 Revenues
Tuesday January 9, 8:00 am ET
STUDIO CITY, Calif., Jan. 9, 2007 (PRIME NEWSWIRE) -- Tix Corporation (OTC BB:TIXC.OB - News) (the ``Company'') is pleased to announce that its Las Vegas half-price, same day ticket business, Tix4Tonight, reported an all-time record of $7,307,000 in gross ticket sales for the three months ended December 31, 2006, which represented an increase of $4,228,000 or 137% over the same period in 2005.
In addition, the Company realized a 104% increase in dollar volume of ticket sales for December 2006, to $2,207,000, as compared to $1,126,000 for December 2005.
Tix Corporation's wholly-owned subsidiary, Tix4Tonight, sells tickets for Las Vegas shows, concerts, attractions and sporting events at half-price, on the same day of the performance. Tix4Tonight also offers half-price dinner entrees and discount golf reservations in Las Vegas.
Tix4Tonight has four prime ticket booth facilities, strategically placed at highly foot-trafficked locations in Las Vegas, Nevada. They include the Hawaiian Marketplace at the South end of the Strip, the Fashion Show Mall in front of Neiman Marcus, directly across the street from the new Wynn Resort at the middle of the Strip, North Strip, just South of the Riviera Hotel, and a downtown Las Vegas facility in the Four Queens Hotel, fronting onto the Fremont Street Experience.
For more information and answers to typical questions about how the Tix4Tonight service works, call 877-849-4868 or visit http://www.tix4tonight.com.
Cautionary Statement pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:
All statements in this news release that are not statements of historical fact are deemed to be forward-looking statements. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Many of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements. This document is only for the general information of shareholders, potential investors and other interested parties, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The opinions expressed herein are the current opinions of management as of the date appearing on this document.
Contact:
Tix Corporation
Mitch Francis, Chief Executive Officer
(818) 761-1002
--------------------------------------------------------------------------------
Source: Tix Corporation
The tree's "been shook"......nice green recovery day yesterday.
Appears the PPS gets pushed down very quickly and artificially to allow a LARGE buyer to load up relatively inexpensively. (i.e. brought down on 500 & 1000 share trades, then buys of 2000 & 2500 come in at that PPS)
Thanks, Penn. I'm trying to get more people to take a look at this company. It has an AMAZING track record and is profitable. Each month brings greater rev's than the previous one.
Guess people are a little scared since it's not a "penny" stock any longer (trading over $5/share).
Anyway, thanks for stopping in and let others know about this gem if you would. Thanks!!
frat.
Jus' stoppin by to say hello there fratboy72. Appears to be a mite lonely here for ya. Glad to see you doin okay here...
Nice quick take-down in order to put the large buys thru at lower price.........time to load some more......
More NEWS: Exhibit Merchandising Enters Into Non-Binding Letter Agreement with Tix Corporation
Wednesday December 13, 7:35 am ET
CLEVELAND--(BUSINESS WIRE)--Exhibit Merchandising LLC, whose principal members are Joe Marsh and Lee D. Marshall, has signed a non-binding Letter Agreement outlining the terms and conditions and general process for it to be acquired by TIX CORPORATION (OTCBB:TIXC - News; "Tix"). Both Marsh and Marshall are current shareholders of Tix. In addition, Marsh has been providing consulting services to Tix since July 2006.
Said Marsh, who with Marshall founded Magic Arts & Entertainment www.magicentertainment.tv and Exhibit Merchandising, "We anticipate an excellent fit between our two companies, and we further believe that there is a dynamic, mutually beneficial business opportunity in combining the two companies."
Added Mitch Francis, CEO of Tix www.tix4tonight.com, "We are delighted by the prospect of acquiring a growing business such as Exhibit Merchandising LLC. We believe there exists between us a synergistic fit with our core business of half-price ticket sales for Las Vegas shows and concerts, as well as with our dinner and golf reservation businesses. Through leveraging our existing relationships with these vendors we would be able to offer branded merchandise to them. We are hopeful that this acquisition will become a material contributor to Tix's operations and cash flows for years to come."
The Letter Agreement provides that Tix will pay the greater of a six-times calendar 2008 EBITDA or $4 million, resulting in an initial purchase price of $24 million, payable $10 million in cash and $14 million in shares of restricted common stock at a fixed price of $4.00 per share. Additional consideration based on calendar 2008 EBITDA will be paid in the form of shares of Tix's restricted common stock valued at the thirty-day closing bid price prior to December 31, 2008, but in no event less than $4.00 per share. Based on the current and expected future operations of Exhibit Merchandising LLC, such additional consideration could be substantial. Management of Tix will retain voting rights with respect to shares of common stock issued to acquire Exhibit Merchandising LLC.
The Letter Agreement provides for a thirty-day exclusive negotiation period and a subsequent ninety-day due diligence period for Tix to conduct a financial and operational review of Exhibit Merchandising LLC, to draft definitive transaction documents, and to obtain financing for the transaction. Tix intends to raise the funds required to close this transaction through a private placement of its equity securities.
The Letter Agreement is subject to, among other conditions, satisfactory completion of due diligence, obtaining $10 million of new financing, negotiation, preparation and execution of definitive transaction and financing documents, preparation of consolidated financial statements, compliance with state and federal securities laws and regulations, and receipt of the requisite corporate approvals. The transaction is expected to close during the second quarter of 2007. However, as a result of the foregoing uncertainties, there can be no assurances that the transaction will be completed. Furthermore, even if the transaction is completed, there can be no assurances that the future operations of the acquired business will be successful.
About Exhibit Merchandising LLC
Exhibit Merchandising LLC, located in Aurora, Ohio, was formed in 2004 to handle the affiliated merchandising opportunities that its principals created in forming Magic Arts & Entertainment. Marsh and Marshall formed Magic Arts & Entertainment in 2001 after the 1998 sale of Magicworks Entertainment, Inc. (AMEX:MJK - News) to SFX (now Live Nation) for $118 million.
Beginning in the early 1980's, Marsh and Marshall built a sterling international reputation for their productions of The Magic of David Copperfield, Lord of the Dance, Janet Jackson's Velvet Rope Tour, Fleetwood Mac's Reunion Tour, and tours of Broadway hits like "Evita," "West Side Story" and "Fiddler on the Roof," as well as Titanic - the Exhibition. That Titanic connection led Joe Marsh into the exhibition business. He now is one of the largest shareholders in Premier Exhibitions (NASDAQ:PRXI - News), the producers of 14 exhibits, including "Titanic - the Exhibition" and "Bodies, the Exhibition" throughout the world.
Exhibit Merchandising's exclusive contract with AEG Live is responsible for the merchandising success of "Tutankhamun and the Golden Age of the Pharaohs," which has drawn over 2.6 million visitors in only three cities. Exhibit Merchandising LLC was able to successfully negotiate exclusive merchandising rights for the "King Tut" tour, which immediately made the merchandising company both profitable and highly visible in the museum marketplace.
Exhibit Merchandising LLC has a 5-year contract to sell King Tutankhamen and the Golden Age of Pharaohs exhibit licensed merchandise through its own outlets or museum stores worldwide. Exhibit Merchandising LLC also signed a 5-year contract to sell licensed Pirates - the Exhibition museum tour merchandise worldwide, which is scheduled to commence as a touring exhibit in 2007. There is also a long-standing arrangement to sell Jesus Christ Superstar licensed merchandise to accompany the musical's road tour. Exhibit Merchandising LLC is also in discussions with numerous new museum-type exhibits to supply merchandising.
Exhibit Merchandising LLC sells themed souvenir posters, memorabilia and collector's items in specialty stores set up for the duration of a tour's presence at a particular museum. Some of the merchandise is then remaindered to the museum's general gift store, or shipped to the next tour location.
About Tix Corporation
Tix Corporation's wholly-owned subsidiary, Tix4Tonight, sells tickets for Las Vegas shows, concerts, attractions and sporting events at half-price, on the same day of the performance. Tix4Tonight also offers half-price dinner entrees at popular restaurants in Las Vegas, and through its recently acquired Stand-By Golf division, has also begun to offer discount golf reservations at Las Vegas golf courses.
Tix4Tonight has four prime ticket booth facilities, strategically placed at highly foot-trafficked locations in Las Vegas, Nevada. They include the Hawaiian Marketplace at the South end of the Strip, the Fashion Show Mall in front of Neiman Marcus, directly across the street from the new Wynn Resort at the middle of the Strip, North Strip, just South of the Riviera Hotel, and a downtown Las Vegas facility in the Four Queens Hotel, fronting onto the Fremont Street Experience.
Los Angeles-based Tix Corporation (OTCBB:TIXC - News) is coming off its all-time monthly sales record of $2,669,000 in November 2006, as compared to $1,038,000 for November 2005, an increase of 157%.
Additional information with regard to the matters discussed in this news release can be found in Tix Corporation's filings with the U.S. Securities and Exchange Commission, which can be accessed without charge at http://www.sec.gov/.
Cautionary Statement pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:
All statements in this news release that are not statements of historical fact are deemed to be forward-looking statements, including our expectations with respect to the acquisition of Exhibit Merchandising LLC and its operations and cash flows. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Many of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements. This document is only for the general information of shareholders, potential investors and other interested parties, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The opinions expressed herein are the current opinions of management as of the date appearing on this document.
Contact:
Lobeline Communications
Phil Lobel, 310-271-1551 x13
phil@lobeline.com
--------------------------------------------------------------------------------
Source: Exhibit Merchandising LLC
Expected reaction to the news & several days of solid gains - held the 5.25 level very strong today & closed just barely in the red.
Volume's definitely picking up over the last several trading sessions - a good sign of things to come............
NEWS! Tix Corporation Enters Into Non-Binding Letter Agreement to Acquire Exhibit Merchandising LLC
Tuesday December 12, 8:00 am ET
STUDIO CITY, Calif., Dec. 12, 2006 (PRIME NEWSWIRE) -- Tix Corporation (OTC BB:TIXC.OB - News) (the ``Company'') has signed a non-binding Letter Agreement outlining the terms and conditions and general process to acquire Exhibit Merchandising LLC, whose principal members are Joe Marsh and Lee Marshall, both of whom are current shareholders of the Company. In addition, Mr. Marsh has been providing consulting services to the Company since July 2006.
The Letter Agreement provides that the Company will pay the greater of a six-times calendar 2008 EBITDA or $4 million, resulting in an initial purchase price of $24 million, payable $10 million in cash and $14 million in shares of restricted common stock at a fixed price of $4.00 per share. Additional consideration based on calendar 2008 EBITDA will be paid in the form of shares of the Company's restricted common stock valued at the thirty-day closing bid price prior to December 31, 2008, but in no event less than $4.00 per share. Based on the current and expected future operations of Exhibit Merchandising LLC, such additional consideration could be substantial. Management of the Company will retain voting rights with respect to shares of common stock issued to acquire Exhibit Merchandising LLC.
The Letter Agreement provides for a thirty-day exclusive negotiation period and a subsequent ninety-day due diligence period for the Company to conduct a financial and operational review of Exhibit Merchandising LLC, to draft definitive transaction documents, and to obtain financing for the transaction. The Company intends to raise the funds required to close this transaction through a private placement of its equity securities.
The Letter Agreement is subject to, among other conditions, satisfactory completion of due diligence, obtaining $10 million of new financing, negotiation, preparation and execution of definitive transaction and financing documents, preparation of consolidated financial statements, compliance with state and federal securities laws and regulations, and receipt of the requisite corporate approvals. The transaction is expected to close during the second quarter of 2007. However, as a result of the foregoing uncertainties, there can be no assurances that the transaction will be completed. Furthermore, even if the transaction is completed, there can be no assurances that the future operations of the acquired business will be successful.
Mitch Francis, CEO of Tix Corporation, commented, ``We are delighted by the prospect of acquiring a growing business such as Exhibit Merchandising LLC.'' He continued, ``We believe that there exists a synergistic fit with our core business of half-price ticket sales for Las Vegas shows and concerts, as well as with our dinner and golf reservation businesses, through leveraging our existing relationships with these vendors to offer branded merchandise to them. We are hopeful that this acquisition will become a material contributor to the Company's operations and cash flows for years to come.''
About Exhibit Merchandising LLC
Exhibit Merchandising LLC, located in Akron, Ohio, was formed in 2004 to handle the affiliated merchandising opportunities that its principals created in forming Arts & Exhibitions, a partner in the successful King Tutankhamen museum exhibition currently touring the world's top museums. Exhibit Merchandising LLC was able to successfully negotiate exclusive merchandising rights for the ``King Tut'' tour, which immediately made the merchandising company both profitable and highly visible in the museum marketplace.
Exhibit Merchandising LLC has a 5-year contract to sell King Tutankhamen and the Golden Age of Pharaohs exhibit licensed merchandise through its own outlets or museum stores worldwide, and is currently grossing more than $1.4 million monthly. Exhibit Merchandising LLC also signed a 5-year contract to sell ``Pirates, the Exhibition'' museum tour merchandise worldwide, which is scheduled to commence as a touring exhibit in 2007. There is also a long-standing arrangement to sell Jesus Christ Superstar licensed merchandise to accompany the musical's road tour. Exhibit Merchandising LLC is also in discussions with numerous new museum-type exhibits to supply merchandising.
Exhibit Merchandising LLC sells themed souvenir posters, memorabilia and collectors' items in specialty stores set up for the duration of a tour's presence at a particular museum. Some of the merchandise is then remaindered to the museum's general gift store, or shipped to the next tour location.
About Tix Corporation
Tix Corporation's wholly-owned subsidiary, Tix4Tonight, sells tickets for Las Vegas shows, concerts, attractions and sporting events at half-price, on the same day of the performance. Tix4Tonight also offers half-price dinner entrees at popular restaurants in Las Vegas, and through its Stand-By Golf division, has also recently begun to offer discount golf reservations at Las Vegas golf courses.
Tix4Tonight has four prime ticket booth facilities, strategically placed at highly foot-trafficked locations in Las Vegas, Nevada. They include the Hawaiian Marketplace at the South end of the Strip, the Fashion Show Mall in front of Neiman Marcus, directly across the street from the new Wynn Resort at the middle of the Strip, North Strip, just South of the Riviera Hotel, and a downtown Las Vegas facility in the Four Queens Hotel, fronting onto the Fremont Street Experience.
For more information and answers to typical questions about how the Tix4Tonight service works, call 877-849-4868 or visit http://www.tix4tonight.com.
Additional information with regard to the matters discussed in this news release can be found in Tix Corporation's filings with the U.S. Securities and Exchange Commission, which can be accessed without charge at http://www.sec.gov.
Cautionary Statement pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:
All statements in this news release that are not statements of historical fact are deemed to be forward-looking statements, including our expectations with respect to the acquisition of Exhibit Merchandising LLC and its operations and cash flows. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Many of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements. This document is only for the general information of shareholders, potential investors and other interested parties, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The opinions expressed herein are the current opinions of management as of the date appearing on this document.
Contact:
Tix Corporation
Mitch Francis, Chief Executive Officer
(818) 761-1002
--------------------------------------------------------------------------------
Source: Tix Corporation
Truly, an undiscovered gem.
Thanks for that synopsis, stinkeye.
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