Hipcricket Inc.(fka HIPPQ)

[hawkmd]

I will repeat what I said in another MB...

Bidders will come and SITO is not going to win IMO...

I have been following HIPP back in the days of AUGT( old shareholders) and sold for a big loss!!! when I realized how bad!!! Arena( CEO in those days) was handling AUGT. After that I kept an eye on AUGT( HIPP today) and saw the entire drama. With that been said and based on my DD, there is value on HIPP business model and patents but it was so obvious that nobody wanted to do business( equity or debt) with the previous and current management. Now that they have been forced(IMO) to filed for BK I believe the people wanting this business model and technology will come forward and buy HIPP business (with less employees, not this F$#@$ management and BOD, and finally profitable).

IMO SITO is just a puppet in this game and will be outbid quickly and by a large amount. Based on my previous DD( when I was AUGT shareholder) I put the price of this auction between $16-22M. If Im right then shareholders could get between 2-5 cents per share. We have to remember that liabilities are around $12M and assets around $16M. Anything above $13M will go to shareholders. So anybody loading at these level just to speculate could get a nice reward...

BTW... SITO transaction is really a little over 10M ( $4.5M in Cash + $3.4M credit line + some liabilities and employees). So any real offer will have to be over 10M to make sense in my opinion...