Press Release: Live Ventures Completes Purchase of Remaining 20 Percent of Marquis Industries, Enabling Potential Usage of Nearly $10 Million in Net Operating Loss in Future Years
4 minutes ago - DJNF
Live Ventures Completes Purchase of Remaining 20 Percent of Marquis Industries, Enabling Potential Usage of Nearly $10 Million in Net Operating Loss in Future Years
PR Newswire
LAS VEGAS, Dec. 8, 2015
LAS VEGAS, Dec. 8, 2015 /PRNewswire/ - Live Ventures Incorporated (NASDAQ:LIVE) ("Live Ventures" or the "Company"
, a diversified growth holding company, today announces that it has completed the purchase of the remaining 20 percent stake of its subsidiary, Marquis Industries, which was formerly held by Marquis' management and shareholders.
With the completion of this transaction, Marquis Industries became a wholly-owned subsidiary of Live Ventures and, given future projected earnings of Marquis Industries and its subsidiaries, should allow usage of nearly $10 Million in net operating loss carry forwards of Live Ventures in subsequent years, which could represent approximately $3 Million in cash tax savings.
"Increasing our ownership in Marquis Industries to 100 percent will improve Live Ventures' overall earnings and also should provide us with millions of dollars in cash tax savings which were not available with Marquis Industries as a partially owned subsidiary." said Jon Isaac, CEO of Live Ventures Incorporated.
About Live Ventures Incorporated
Live Ventures Incorporated is a diversified holding company with several wholly owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Live Ventures Incorporated provides, among other businesses, marketing solutions that boost customer awareness and merchant visibility on the Internet. We operate 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 addition, we maintain, through our subsidiary, ModernEveryday, an online consumer products retailer and, through our subsidiary, Marquis Industries, a specialty, high-performance yarns manufacturer, hard-surfaces re-seller, which is a top-10 high-end residential carpet manufacturer in the United States. Marquis Industries, through its A-O Division, utilizes its state-of-the-art yarn extrusion capacity to market monofilament textured yarn products to the artificial turf industry. Marquis Industries is the only manufacturer in the world that can produce certain types of yarn prized by the industry.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements that are based on present circumstances and on Live Ventures' 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 Live Ventures 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.
SOURCE LiveDeal Inc.
/CONTACT: Live Ventures Incorporated, Tim Matula, investor relations, 212-378-6721, press@livedeal.com, http://livedeal.com/pressroom
(END) Dow Jones Newswires
December 08, 2015 08:30 ET (13:30 GMT)
4 minutes ago - DJNF
Live Ventures Completes Purchase of Remaining 20 Percent of Marquis Industries, Enabling Potential Usage of Nearly $10 Million in Net Operating Loss in Future Years
PR Newswire
LAS VEGAS, Dec. 8, 2015
LAS VEGAS, Dec. 8, 2015 /PRNewswire/ - Live Ventures Incorporated (NASDAQ:LIVE) ("Live Ventures" or the "Company"
, a diversified growth holding company, today announces that it has completed the purchase of the remaining 20 percent stake of its subsidiary, Marquis Industries, which was formerly held by Marquis' management and shareholders. With the completion of this transaction, Marquis Industries became a wholly-owned subsidiary of Live Ventures and, given future projected earnings of Marquis Industries and its subsidiaries, should allow usage of nearly $10 Million in net operating loss carry forwards of Live Ventures in subsequent years, which could represent approximately $3 Million in cash tax savings.
"Increasing our ownership in Marquis Industries to 100 percent will improve Live Ventures' overall earnings and also should provide us with millions of dollars in cash tax savings which were not available with Marquis Industries as a partially owned subsidiary." said Jon Isaac, CEO of Live Ventures Incorporated.
About Live Ventures Incorporated
Live Ventures Incorporated is a diversified holding company with several wholly owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Live Ventures Incorporated provides, among other businesses, marketing solutions that boost customer awareness and merchant visibility on the Internet. We operate 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 addition, we maintain, through our subsidiary, ModernEveryday, an online consumer products retailer and, through our subsidiary, Marquis Industries, a specialty, high-performance yarns manufacturer, hard-surfaces re-seller, which is a top-10 high-end residential carpet manufacturer in the United States. Marquis Industries, through its A-O Division, utilizes its state-of-the-art yarn extrusion capacity to market monofilament textured yarn products to the artificial turf industry. Marquis Industries is the only manufacturer in the world that can produce certain types of yarn prized by the industry.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements that are based on present circumstances and on Live Ventures' 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 Live Ventures 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.
SOURCE LiveDeal Inc.
/CONTACT: Live Ventures Incorporated, Tim Matula, investor relations, 212-378-6721, press@livedeal.com, http://livedeal.com/pressroom
(END) Dow Jones Newswires
December 08, 2015 08:30 ET (13:30 GMT)
I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
