LiveDeal Announces Recent $1 Million Investment by Isaac Capital Group, LLC
LAS VEGAS, NV -- (Marketwired) -- 05/14/13 -- LiveDeal, Inc. (LVDL) (NASDAQ: LIVE), a provider of marketing solutions that boost customer awareness and merchant visibility on the Internet, announced today that Jon Isaac, the Company's President and Chief Executive Officer, invested $1 million in the Company's common stock during the quarterly period that ended on March 30, 2013.
Mr. Isaac's investments were made through Isaac Capital Group, LLC ("ICG") using his personal funds. Including the recent purchases, which were made through the conversion of promissory notes issued by the Company pursuant to a previously disclosed Note and Warrant Purchase Agreement, Mr. Isaac has now invested more than $2 million in LiveDeal since December 2011. He has not sold any shares of the Company's common stock to date.
As President and CEO of the Company and a member of its Board of Directors, Mr. Isaac has played a central role in the research, development, and implementation of LiveDeal's Velocity Local brand, the nation's first Internet Marketing solution offered under a pay-as-you-go managed service model. The comprehensive Velocity Local service includes search engine marketing, social media marketing, website design and maintenance. Also included in the service is custom branded mobile app development complete with a broad range of interactive features -- from mapping to mobile click-to-call.
"We will continue in our drive toward corporate growth and expansion throughout 2013, with a strong leadership team in place," Mr. Isaac explained. "This investment will support the next phase of growth for the Velocity Local brand including an aggressive national marketing and sales campaign. It will also be used to advance development initiatives for innovative technologies that help small businesses better compete in the changing marketing and advertising landscape."
The Company continues to evaluate its business strategy to align its products and services with the dynamic needs of small- and medium-sized businesses. "I am confident and optimistic about the direction the Company is heading in the months and years ahead," Mr. Isaac stated.
About LiveDeal, Inc.
LiveDeal, Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal recently launched two new business lines under new management after a period of re-evaluating the company's sales program, products, distribution methods, and vendor programs. 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, which LiveDeal refers to as online presence marketing. Previously, in August 2012, LiveDeal commenced sourcing local deal and activities to strategic publishing partners under its LiveDeal® brand, which the company refers to as promotional marketing. 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 that 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. 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, and our future financial performance, 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.
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Source: LiveDeal, Inc.