Local Matters Moving Toward IPO March 22, 2006 BIA Advisory Group Online/Interactive Here’s the press release. Please Share This Tweet Like Plus one Pin It Share This Post Has One Comment blahblah March 25, 2006 at 12:00 am from 20 minutes reasing the LMI S-1, here’s what I see… -There’s a $65m loss that won’t be treated as a NOL due to IRS regs. -Consolidated revs of $8m (most of that through their acquired companies) in 2005 with a loss of $19m. -Small # customers, disproportionate share of revs tied to a handful. Contracts can be nullified with 60 days’ notice by either party. – 1/3 to 1/2 of the proceeds will be used to retire debt. This gives LMI enough cash for 12 months of operations – One director has a $18k/month (no typo) car service expense. – CEO’s base is $270k People, this isn’t 1998! Massive SG&A expenditures, unreasonable expenses, no earnings with high exec salaries don’t send a good message…What am I missing? Wouldn’t buy this with a 10’ poll! Leave a ReplyYou must be logged in to post a comment.