IRVINE, Calif., Aug. 11, 2015 (GLOBE NEWSWIRE) -- Autobytel Inc. (NASDAQ:ABTL), a leading provider of online automotive services dedicated to connecting consumers with dealers, has been invited to present at the 35th Annual Canaccord Genuity Growth Conference being held August 12-13, 2015 at the InterContinental Boston Hotel.
Autobytel President and CEO Jeff Coats is scheduled to present on Thursday, August 13 at 2:30 p.m. Eastern time, with one-on-one meetings held throughout the day.
For more information about the conference or to schedule a one-on-one meeting with Autobytel management, please contact your Canaccord Genuity representative.
Tax Benefit Preservation Plan
At December 31, 2014, the company had approximately $94.5 million in available net operating loss carryforwards ("NOLs") for U.S. federal income tax purposes. The company's Tax Benefit Preservation Plan ("Plan") was adopted by the company's Board of Directors to preserve the company's NOLs and other tax attributes and thus reduce the risk of a possible change of ownership under Section 382 of the Internal Revenue Code. Any such change of ownership under Section 382 would limit or eliminate the ability of the company to use its existing NOLs for federal income tax purposes. Rights issued under the Plan could be triggered upon the acquisition by any person or group of 4.9% or more of the company's outstanding common stock and could result in substantial dilution of the acquirer's percentage ownership in the company. As of August 4, 2015, there were 10,419,719 shares of the Company's common stock outstanding. There is no guaranty that the Plan will achieve the objective of preserving the value of the company's NOLs. For more information, please visit http://investor.autobytel.com/tax.cfm.
About Autobytel Inc.
Autobytel Inc. provides high quality consumer leads and associated marketing services to automotive dealers and manufacturers throughout the United States. The company also provides consumers with robust and original online automotive content to help them make informed car-buying decisions. The company pioneered the automotive Internet in 1995 with its flagship website www.autobytel.com and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and has helped every major automaker market its brand online.
Investors and other interested parties can receive Autobytel news alerts and special event invitations by accessing the online registration form at investor.autobytel.com/alerts.cfm.