LAS VEGAS, Nov. 6, 2014 /CNW/ - LiveDeal, Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, today announced that it has filed the required financial statements for its subsidiary, Modern Everyday Inc., which was acquired in August of this year. The filing was made with the SEC and is available at www.sec.gov.
The audit demonstrated ModernEveryday.com's strong performance in 2013, featuring sales of more than $9.3 million. The Company expects ModernEveryday to see significant growth in the coming quarters based on significant capital infusion from its parent, LiveDeal.
"We believe that Modern Everyday will soon prove to be one of LiveDeal's best investments and acquisitions," said Jon Isaac, CEO of LiveDeal. "LiveDeal benefits from the retention of Modern Everyday's top-notch team, led by Byron Hsu. Furthermore, its proprietary, internally-built software has the expansive capability to predict consumer behavior and online spending habits down to a science. Finally, Modern Everyday's ability to scale is unmatched by any other opportunity seen to date. Its potential growth is almost directly related to the amount of capital we decide to invest. Given that our most recently reported cash position was over $10.3 million, we anticipate significant growth opportunity. Most importantly, Modern Everyday's software, inventory and fulfillment can easily be integrated into LiveDeal.com's platform, allowing us to offer deals to our user base and further our mission to create victories in the marketplace, through innovation and fun, while maximizing shareholder value."
About LiveDeal, Inc.
LiveDeal, Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In November 2012, LiveDeal commenced the sale of marketing tools that help local businesses manage their online presence under the Company's Velocity Local™ brand. LiveDeal continues to actively develop, revise, and evaluate these products and services and its marketing strategies and procedures. For more information, visit www.livedeal.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on present circumstances and on LiveDeal's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, outlook, assumptions or future events or performance, which often, but do not always, include the use of words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets" or similar expressions, are not statements of historical facts and may be forward-looking. Such forward-looking statements, including any statements regarding the plans and objectives of management for future operations or products, the market acceptance or future success of our products, anticipated results from acquisitions, and our future financial performance and stockholder value, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and LiveDeal does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.
SOURCE: LiveDeal Inc.
For further information: LiveDeal, Inc., Tim Matula, Investor Relations, 425-836-9035, [email protected], http://livedeal.com/pressroom