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This is great news if the judge approves:
The Committee and the Debtor will be requesting an adjournment of the
sale hearing to March 11, 2015 and a rescheduling of the Auction for
March 9, 2015. As of this time, SITO opposes an adjournment. The
Debtor will provide an updated status report to the Court at the 2/27/2015
hearing.
I expect the 3:00 meeting yesterday was an effort by Yahoo to acquire HIPP and preclude the auction from happening. I think this would only happen if the offer price was high enough that nobody in the room would expect auction bidding to reach that level. If so, we will likely see an announcement this morning confirming the sale and cancelling the auction. Will see.
Hawk - is there a document from this week's hearing that you can post a link to here? Thanks.
In my opinion, pretty good. Given teh quality of the platform and data analytics HIPP has, I don't think other companies would stand on the sideline and let it go for a mere $4.5M. However, it seems the on-going lawsuit against HIPP is what scared other interested parties off previously so that may very well limit the over-bid amount(s) received. At least it won't be long before we know something however it shakes down.
You may be right about the potential upside in share price. Below is an interesting article about DNDN's bankruptcy / stalking horse status:
(Bloomberg) -- The price for Dendreon Corp., the bankrupt developer of a drug to treat advanced prostate cancer, rose more than one-third to $400 million before an auction has even been held.
To retain its place as the so-called stalking horse, which makes the first bid at auction and receives a breakup fee if it’s outbid, Valeant Pharmaceuticals International Inc. boosted its initial offer from $296 million.
A bankruptcy judge in Delaware approved Valeant as the stalking horse Thursday. Competing bids for the Feb. 12. auction are due Feb. 10. A sale-approval hearing is set for Feb. 20.
The new price means there’s no reason for Dendreon to proceed with a backup plan that would have made convertible senior noteholders the new owners in exchange for debt.
Dendreon shares rose as much as 46 percent on news of the higher price. Its $620 million in 2.875 percent convertible notes due 2016 had climbed 19 percent by midday in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
Dendreon filed for Chapter 11 protection on Nov. 10 and immediately sought court approval of auction and sale procedures. The judge originally set a Dec. 29 deadline to choose the stalking horse for a Feb. 3 auction. After several potential buyers showed interest, Seattle-based Dendreon pushed back the bid deadline and auction.
The company had also arranged the backup plan in case the auction was a bust. It obtained plan-support agreements allowing noteholders to convert debt to equity if no one bid more than $275 million. With a satisfactory cash buyer, non-bondholder general unsecured creditors will be able to share cash pro rata with the noteholders, according to the term sheet.
Dendreon had $340.3 million in assets and $660.7 million in liabilities on a book-value basis as of Sept. 30, according to court papers.
The case is In re Dendreon Corp., 14-bk-12515, U.S. Bankruptcy Court, District of Delaware (Wilmington).
Thanks for posting. Seems like if they could just do a better job collecting their AR balance, bankruptcy protection could be avoided.
Canaccord better earn their pay and drum up some more interest in the company for the auction process.
This whole BK process looks like they are just taking the easy way out and could be avoided.
I think you are right - a sale is close at hand. But it may be just for the patent portfolio and not the entire company. I think we'll hear something about the 'strategic alternatives' decision within the next 30 days which will provide guidance where the company is headed. I thought the prospect of selling the company was essentially off the table at this point, but it didn't sound that way to me on the Q2 earnings call. Considering all options at this point I guess.
Yes, excessive. I was expecting a R/S would be done at some point, but not to this degree. I think the most significant part is this, as it indicates more dilution likely coming after the R/S:
Additionally, a reverse stock split would increase the number of authorized but unissued common shares available for capital raising and other corporate purposes.
This article came out today - no mention of HIPP, but reflects merger activity in the space. The initial Ladenberg report stated that HIPP's database was about the best one out there in terms of volume of data (I believe it said it was the second largest if I recall correctly). Surely it must have value to a company looking to acquire data & analytics capabilities, yet we sit here at 12 cents/share.
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Yahoo buys Flurry. Opera Mediaworks purchases AdColony. Twitter snares TapCommerce.
The outright purchase of these three mobile ad companies by bigger, more established IT players over the last two months portends what will surely be a slew of accelerated takeovers, mobile ad executives told VentureBeat.
The mobile advertising outfits that become acquisition targets will, like these three, have the proven capability to scale campaigns on multiple devices.
Exact purchase prices for these companies haven’t been publicly disclosed. Sources told VentureBeat that Yahoo paid north of $300 million, but it’s not known what the cash and stock breakdown is. Opera, which specializes in video ad delivery, is said to have paid more than $350 million in cash and stock for AdColony. And Twitter coughed up around $100 million for TapCommerce, reports said, but the deal reportedly hasn’t been finalized.
But the data that companies like these have acquired will continue to drive buyouts, even as companies like Google and Facebook are relying more on their own in-house analytics capabilities.
Some of that data is incredibly detailed, down to individual consumers’ hair color, shoe size, and vacation preferences, for example.
“Flurry has lots of data that Yahoo wanted to grab. The question here is what was the buying price,” said Guillaume Lelait, a vice president for U.S. operations at Fetch, a mobile ad agency that is on track to pull in revenue of $130 million this year.
Pending buyout from the 'strategic alternatives' review in a little over a month is the only reason I'm keeping $ parked here (and adding to my position). Comments on Q4 conf call indicate/confirm they have signed some good sized deals in Q4 & Q1.
Remember, the Q about to be reported in Q4 (we are currently in Q115). I think Q4 revenue will exceed the pathetic guidance the company provided on the Q3 call, but we may see some excessive 'end of year cleanup' expenses. I do hear that Q1 will be strong, but we're still 2 months or so away from seeing that report (though we may never see if it a buyout is announced prior to release). I keep adding shares whenever possible.
Sorry, I can't. I know that throws into question the credibility of what I am saying but I am confident of the quality of info I am hearing. Some of this I am hearing from a second source as well if that helps at all. There are some exciting things happening in the company right now (as you can probably imagine). I have been buying all the shares I can in this 28-30 cent range.
I have heard that Q4 will exceed their previous (flat) guidance, but not sure by how much. A bit concerned about what 'end of year cleanup' expenses might hit Q4.
Also hearing that Q1 is going very, very well and all of the TCPA issues were dealt with in Q4 so shouldn't affect Q1 at all. Of course, it's hard to place too much trust in what the company says anymore unfortunately, but I do believe both statements are accurate. Not sure how big the Taco Bell campaign is, but that could really help Q1 numbers. I think we'll be on track to hit roughly $40M+ in FY15, and if so, we're trading at just a little over 1X at this point.
I bought a good size chunk today at .275 - as long as we don't see another dilution happen related to the forbearance issue (which I don't think we will), this should be a great price to pick up shares.
I have heard there are a good number of interested parties involved in the strategic options review process. Should result in some good results for us in the not too distant future.
I agree, the bonuses, options and increased salaries make me sick but it's pretty typical in a buyout situation. Nobody seems to have a moral compass that works anymore. I think the 4/15 date is when they will be able to pay their bank back due to some transaction (other than another dilution), so I am hopeful in that regard. I believe they signed a large deal last month and I suspect that may be related to this date...don't know, just my speculation.
4/15/14 - check out that date in tonight's 8-k. Looks like a buyout may be announced by then. Management has been busy lining their pockets with transaction bonuses, stock options, increased salaries.
Someone put a buy order I on Thursday night after the close for 100K shares as well...must have known / heard something was coming soon.
This nightmare may finally be coming to a close.
It's possible that HIPP was approached by one company wanting to do either an acquisition or a partnership of some sort and HIPP engaged an investment banker to review/facilitate this particular transaction. If so, then the process might not require all the steps usually undertaken to sell the company(such as putting "the book" together) and could happen quicker than expected. It's anybody's guess what path this 'strategic options' process is or will be taking at this point.
If nothing else, I expect we'll see a SEC filing for the MM settlement. I think it will get done this time by the deadline (12/1) and even though there may not be a PR, a filing should be done which may contain some details of the deal.
In an investor presentation a few months ago, Ivan started off by making a comment that "xbox is the largest network in the world. Interesting." (may not be his exact words, but very close to that). Later in the same presentation, he said they have a large, multi-national corporation as a client and are not even allowed to mention the name. Based on the xbox comment, I'm guessing it's msft.
Adweek Article Text:
Who CEO Ivan Braiker, COO Doug Stovall
What Mobile marketing company
Where Lake Washington at Carillon Point in Kirkland, Wash.
Hipcricket launched in 2004 with a focus on text-message marketing, and its first client was Clear Channel. Since then, the tech and advertising shop has added a range of mobile services, including banners, video and a proprietary ad network, while broadening its client roster to include the likes of Ford. Last year, Hipcricket helped the auto brand put QR codes on the window stickers of all its cars. Now, the shop is focused on juicing up its data and analytics tools, and just added its latest assignment: developing mobile websites and marketing for a dozen Mondelez brands in partnership with Google.
I am guessing we will see a PR on the Google partnership on Monday. I believe the PR about Hipcricket will be online tomorrow. Seems unlikely the PR would come out on Friday...
Just bought another chunk of shares today myself.
It's in the updated investor presentation posted today...on slide 20 available on the augme.com web site.
There will be a PR on this, but there is going to be an article about Hipcricket in an advertising magazine first (in the next few days).
Visiongain predicts growth in the small cells market, particularly in the 4G small cell types. The market is poised for vendors and solution providers as there is a huge uptake both from the consumer market, enterprise sector and the mobile operators, driven by limited spectrum and capacity constraints. The overall small cells market is growing and will continue to do so over the forecast period 2013-2018. As a consequence, visiongain has determined that the value of the global small cells market in 2013 will reach a value of $640.8 million.
2 product announcements and we go red on the day. Ugh, the shorts just seem to control this stock.
This one could really pop if we'd get a decent PR or two. Looks like it's going to head back to the mid $3 range at least in the short term.
Why would you think that from my post?? I think we could & should be at that level right now. A good PR and some short-covering and we are there. I would like to see a few more PR's from the company. We're way too low down here at the $3 range.
According to the latest base station and transceiver forecast report from Mobile Experts, there will be a notable disruption in the market for China Mobile TD-LTE production. According to the market analytics firm, RF semiconductor suppliers are increasing production that corresponds with delivery of 207,000 TD-LTE base stations. However, despite widespread media reports that 200,000 base stations will be deployed this year, suppliers stated that production and deployment limitations will stretch deliveries over a period of nearly 18 months.
Agreed, buyout likely. I think $5 minimum at this point. Somewhere between $5-$6 would be reasonable I believe. Would like to see a positive earnings surprise and revenue start ramping up a bit.
From Friday:
"WHEREAS, the parties in the above action are attempting to negotiate a business arrangement via which to settle this litigation; and
WHEREAS, the parties believe that continuing to litigate against each other while exploring a business resolution will be counterproductive and will diminish their chances of success; now therefore,
IT IS HEREBY STIPULATED AND AGREED, subject to the approval and order of the Court, as follows:
1. This case is stayed pending further order of the Court.
2. If the parties have not yet settled their disputes and dismissed this action,
then on or before July 1, 2013 they shall file a joint status report advising
the Court whether they believe the stay should be continued or lifted, and if
lifted, what adjustments they believe should be made to the scheduling order."
More news...the case against MM has been stayed until 7/1/13 while both sides work on a business arrangement of some sort to try to settle the case. Interesting development...
There was no PR on it. Company is intentionally not putting any PR's out regarding IP-related matters - trying to disassociate with the whole patent issue. No idea of any settlement amount, but if it's significant, it will show up in an earnings report for the current quarter.
Anyway, below is the legal brief:
JOINT MOTION FOR STIPULATED DISMISSAL WITH PREJUDICE
The Plaintiff Augme Technologies, Inc. (“Augme”) and Defendant Pandora Media, Inc. (“Pandora”), pursuant to Fed. R. Civ. P. 41(a)(2) and (c), hereby stipulate to and move for an order dismissing all claims and counterclaims between them in this action WITH PREJUDICE, subject to the terms of a confidential settlement agreement dated March 11, 2013, with each party to bear its own costs, expenses and attorneys’ fee.
Pandora lawsuit settled today. Terms not disclosed.
Great Markman ruling yesterday in the case against Pandora!
I read previously that MIMV had to get MSFT's approval to mention them in their press releases, so I imagine they want to be sure MSFT is ok with the wording used in the 10Q as well, and that may very well explain the slight delay in releasing it. Will be good to get some details on this deal between the 2 companies...I expect it will be very positive for little MIMV! I bought more shares today.
A lot of big buys went through today. I have been loading up even more in the .70 - .75 cent range lately. This could be the buy of a lifetime if things work out as anticipated. News could come at any time too!
AOL case has been scheduled for 11/19/12. Been a long time coming, but we now have a trial date!
With the Samsung announcement yesterday, I think it's just a matter of time before we see $15-$20 on this stock. That was a game-changer type of announcement!
Zach's: Increasing Volume Article today:
One of the best ways to find stocks on the move that are grabbing investors' attention is to screen for stocks with increasing volume.
This is because increased volume shows investor interest. As more investors buy the stock, that stock's price should go higher.
But the individual investor, while important to the market, doesn't really have the firepower to affect volume the way that big institutional investors do.
And very few things can move a stock more than institutional buying. Why is that?
For one, institutions have the ability of buying tens of millions of dollars worth of a stock and even hundreds of millions of dollars. And because their purchases are often so large, it typically takes weeks, if not months, for an institutional investor to build a position.
Given this commitment, considering it will also take several weeks or months to get out, you can be sure that these institutional investors have done plenty of homework to feel good about the fundamental prospects of the company.
This does not mean you can ignore your own analysis or the stock market as a whole. But screening for stocks with rising volume (along with prices of course) can put some fantastic stocks on your radar screen.
What Kind of Volume Increase to Look For
I prefer to search for at least two weeks of increasing volume along with rising prices. And in my testing I have found that 3 weeks performs even better.
One week volume spikes, however, will not get thru as oftentimes those can be driven by one day events. Instead, it's the successive volume increase, which shows true buying demand, that gives this set-up its value.
The volume increase also doesn't have to be huge. We're not talking about a several hundred percent increase. In fact, often those massive increases prove to be turning points.
What we're looking for are noticeable increases, like 10%, 20% or 50% increases, etc. But nothing outrageous, like a 10 fold increase. Remember, the last thing an institutional investor wants to do is call too much attention to himself, while he or she is in the midst of building a position. But if you know what to look for, you can see all of this happening in plain site. And get in for the ride as they flesh out the rest of their position.
Screen Parameters
Current Price greater than Price from 1 Week Ago
Price from 1 Week Ago greater than Price from 2 Weeks Ago
Price from 2 Week Ago greater than Price from 3 Weeks Ago
Weekly Volume greater than Weekly Volume from 1 Week Ago
Weekly Volume from 1 Week Ago greater than Weekly Volume from 2 Weeks Ago
Weekly Volume from 2 Week Ago greater than Weekly Volume from 3 Weeks Ago
Zacks Rank less than or equal to 3
Price greater than or equal to $5
Average 20-day Volume greater than or equal to 100,000 shares
The most important elements to this screen are the price and volume items (especially the volume). The Zacks Rank also helps to make sure that their earnings estimates are on the rise. The price item however is a personal preference as I generally don't buy stocks under $5. But it should also be noted that many institutions won't either. But if you're looking for lower priced stocks, you can of course remove this item. And lastly, the average volume item ensures there's enough trade activity on a daily basis to get in and out of the market easily.
Here are 5 stocks that passed this week's screen:
AUTH AuthenTec, Inc.
BGS B&G Foods, Inc.
MRLN Marlin Business Services Corp.
SLM SLM Corporation
STAN Standard Parking Corp.
All of these stocks look good fundamentally. But their successive increases in weekly volume suggest institutional buying and warrant an even closer look.
LucidMedia Settlement news -- our first IP settlement! More settlements to come I would expect...I expect Yahoo will be next.
From Pacer:
"This matter is before the Court on information that the parties have agreed on a settlement of all issues. In light of the parties' resolution of all claims, the court hereby STAYS all further activity in the case, pending further order of the Court."
Signed 1/23/12 by Henry E. Hudson