Yippy, Inc. (YIPI)

[honeybadger]

You seem to have been following this stock for some time. I am reading the most recent annual report. What ever happened to that acquisition of Macte Labs last year? The annual report states:

"During the fiscal year ended May 31, 2013, the Company purchased Macte! Labs, Inc., a Canadian
company, and sold certain of the assets of the Company, resulting in a loss of $4,211,634 from
these transactions due to the difference in stock price on the day the assets were purchased and on
the day they were sold. "

A loss of 4.2 million for this company is pretty huge, but the only other information I can find behind what the company was thinking with this was from the latest quarterly report, which says:

"On March 31, 2013, the Company sold Macte! Labs, Inc. (a Canadian
Corporation), with certain non-essential brands, software and domain assets to
four private individuals. The value of the assets at the time of sale were
$902,150.00 (USD). The Company retained the rights to certain development
tools included in the original acquisition.
"

Why did it buy the company for $5.1 million and sell it less than a year later for $902,150? What are these "certain development tools"? Is the company saying these development tools are worth $4.2 million?

Also, the whole point of Macte Labs was to increase the capabilities of the Yippy Bar, but if you go to the Yippy website:

http://yippy.com/index_new.asp

you can't actually download the Yippy Bar at all. The press release here from last year:

http://www.otcmarkets.com/stock/YIPI/news?id=50780

says:

" Macte Labs depth in custom designed browser extensions was quite apparent when we began talks back in early April 2012. The majority of Consumer, Vertical and Enterprise search functions are performed through a toolbar or add-on extension. Macte possesses significant advantages to competitors like Conduit and provides a more stable and user friendly platform from which to engage consumers. The NeoBar project is the genesis for a new breed of toolbar extensions and we are only too happy to own this amazing technology."

What happened to the Yippy Bar browser extension? Is this no longer something the company is pursuing?

My point is just that no one is going to use software they can't even download. Some sort of explanation would be nice.