Livedeal Announces Three for One Forward Stock SplitJanuary 23, 2014
LAS VEGAS, NV -- (Marketwired) -- 01/23/14 -- LiveDeal Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, an innovative platform using geo-location to enable restaurants to communicate and publish real-time and instant offers to nearby consumers, today announced that its Board of Directors has approved a three-for-one forward stock split of LiveDeal's common shares.
Stockholders will receive three shares of Common Stock for every one share of Common Stock owned on the record date of February 3, 2014. The additional shares will be distributed as of the close of business on February 11, 2014. The forward stock split will be effected on NASDAQ at the open of trading on February 12, 2014. In connection with the forward stock split, the Company's authorized shares of Common Stock will also increase from 10,000,000 shares to 30,000,000 shares.
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 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.