LAS VEGAS, Oct. 23, 2014 (GLOBE NEWSWIRE) -- Jon Isaac, CEO of LiveDeal Inc. (Nasdaq:LIVE) (the "Company" or "LiveDeal"), a publicly traded company that operates www.livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, today acquired 100,000 shares of the Company's common stock in open-market purchases.
The stock was purchased at an average price of $3.05 per share, for an aggregate transaction value of approximately $305,880. Following this transaction, Mr. Isaac and his affiliated company, Isaac Capital Group LLC, directly own 4,706,460 shares of the Company's common stock. The acquisition was disclosed in a Form 4 filing, and it can be accessed on the SEC's official website, www.sec.gov. As announced on October 21, 2014, Mr. Isaac may continue to purchase additional LiveDeal shares in subsequent open-market transactions up to an aggregate of 250,000 shares at his discretion.
"The purchase of these shares represents my faith in the value of LiveDeal as a company, and I continue to personally believe that LiveDeal's stock is priced well below its intrinsic value," said Mr. Isaac. "LiveDeal is dedicated to providing its customers with superior service. This stock purchase is symbolic of my additional belief in LiveDeal's value to our stockholders."
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 actions and the public market's reaction thereto, as well as 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 potential results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and LiveDeal and Jon Isaac do not undertake and specifically decline any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.