Replies to post #57350 on Savvy Trades and Investments

[wadirum1]

Boat is already loaded.

Now, I'm not saying I won't unload the boat a bit somewhere between here and $2.22. But boat is "definitely" loaded.

[larrybaz]

INUV merger dead. This deal smelled rotten from the start.

LITTLE ROCK, Ark., June 21, 2019 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence that serves brands and agencies, today announced that it has mutually agreed with ConversionPoint Technologies Inc. to terminate the previously announced agreement under which ConversionPoint was to acquire Inuvo.

Rich Howe, Inuvo’s Chairman / CEO, commented, “With the termination of the agreement, we will immediately refocus resources away from integration planning to new opportunities that maximize the growth potential of the IntentKeyTM, while maintaining important ValidClick revenue streams. The IntentKeyTM Data Platform is a transformational artificial intelligence-based technology capable of identifying audiences with an unmatched precision. The documented performance has been outstanding. The proliferation of the IntentKeyTM is our number one priority.”

As part of the termination agreement, the $2.8 million break-up fee payable to Inuvo is to be settled by a combination of (i) terminating the outstanding 10% Senior Unsecured Subordinated Promissory Note issued by Inuvo to CPT Investments, LLC, an affiliate of ConversionPoint by no later than July 20, 2019 or payment of a cash fee, (ii) transfer of the assets of ConversionPoint’s ReTargeter business to Inuvo by no later than December 31, 2019 or payment of a cash fee, and (iii) the reimbursement of certain fees associated with the contingent settlement of certain lawsuits that resulted from the proposed merger by no later than September 15, 2019.

“While we firmly believed in the strategic merits of the combination with ConversionPoint Technologies, the difficult market conditions faced by ConversionPoint while attempting to secure the required financing for the transaction led us jointly to the conclusion that the transaction was unlikely to be funded by the pending July 12, 2019 deadline. We have already started the process of fulfilling ReTargeter accounts from the IntentKeyTM platform. We see all of these accounts as upsell opportunities.” added Rich Howe, Inuvo CEO.