Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seth Godin: Most Of Us Have Been “Brainwashed” And Need To “Do Something Ridiculous”

"Things are crook in Tallarook"? [For Looksmart's shareholders] Either way you look at it, it would very much appear to be so.

The following are thoughts today from the Yahoo Finance LOOK board (copied in full), in discussing Looksmart's current position.

*****************

Re: Tender Offer

by equityval . Jan 11, 2013 11:36 AM . Permalink Go to topic

Well, they didn't bid for the whole company at $1, just a fraction of it. It is also trading for just slightly under the cash on the books at 12/31 as disclosed in the 8-K.

The business has been bleeding about $600K of cash a month for the last year, so it probably trading right around the cash on the books today.

The company just told you that the network business is melting down, so unless they can cut a lot of costs, the cash burn is probably going up. Hopefully PEEK will do a better job controlling costs than the ersatz Charles de Gaulle we had running the business before, but you can't blame investors if they wanted to see some actual evidence of that before crediting the stock for it.

It is also not really clear that the current business has any intrinsic value notwithstanding the bright and rosy future that RDF-addled seekingthetruth insists is just around the corner. Clients are leaving, employees are leaving, the business has not been profitable for 5 years.

....It is now the cash on the balance sheet, less whatever the shutdown liabilities are plus whatever can be made of the NOLs, assuming they act quick enough to stop the bleeding - not a slam dunk.

*****************

My replies...

*****************

Re: Re: Tender Offer

by seekingthetruth935 . 14 minutes ago . Permalink Go to topic

#....... It is also not really clear that the current business has any intrinsic value notwithstanding the bright and rosy future that RDF-addled seekingthetruth insists is just around the corner. ..#

Hi equityval ....

In your post it seems (to me) that your reliance on and your complete faith in all that was disclosed within the 8K - has now suddenly become believable.

Why is this so?

As it certainly flies in the face of all that has been told to shareholders (and the market), as has been Filed for SEC corporate governance over the past 7 or, so years.

In my recent instapost [Looksmart's CEO To Step Down -- Filing States Deteriorating Health Condition] specifically, in reply to Ben Plomion (VP Marketing/Partnerships @chango) I had suggested that:

........"In the interest of transparency for both buyers and sellers (and way, less "BS"), it is now about time for ALL to 'show & tell', surely?"

And that "From today's Filing (it appears?), we still have a long way to go."

It's clear that I had felt it to be a load of (Pakapoo ticket-like) BS

Re; The Co's (addled) Resource Description Framework (RDF)

Again equityval ..... Why is it that (now), it all suddenly becomes a situation where the Co is stating it's true position?

That shareholders should now accept that all company statements over the past 7 or so years, were simply (I'll use Oerhomonos' comparison), Enron-like?

If this is the case (it wouldn't be hard to prove), shouldn't Looksmart's retiring CEO Mr Jean-Yves Dexmier now be thinking of packing his bag for a holiday room along-side Bernard L. Madoff?

*****************

Re: Re: Tender Offer

by seekingthetruth935.a second ago.Permalink

#... The company just told you that the network business is melting down, so unless they can cut a lot of costs, the cash burn is probably going up...#

When you refer to "the network business", is it clear in your mind that you fully understand and mean Looksmart's own ad network or, the (so called), "intermediary business"?

This is part of the business that I have said for such a long time now - Had to go!

So as Looksmart could become totally independent (neutral) in conducting it's prime objective, the (global) "Distribution Network business".

equityval .... You do know the difference, I assume? (As few do.)

*****************

Jean-Yves Dexmier-An Artist? (Has he done Something Ridiculous?)

< In his latest book, The Icarus Deception, Seth Godin argues that most of us have been "brainwashed" and need to "do something ridiculous" in order to succeed in the new economy.>

<"Art is the work of a human being, not a system, doing something personal and real that connects to someone else," Godin explains in the accompanying video.>

Always, only an opinion.

LOOK: $0.8080 Down 0.0520 (-6.05%) 2:43PM EST

LC

Disclosure: Long LOOK

,