LiveDeal Targets $60M in Revenue as First Acquisition Begins to Unfold

LiveDeal Inc. LIVE ("LiveDeal" or the "Company"), a NASDAQ-listed, publicly traded company that operates livedeal.com, a geo-location based mobile marketing platform for consumer products and "real-time" and "instant dining offers" to nearby consumers, today announces it has identified the first target of its recently announced acquisition strategy, which has reported $60M in revenue and $5M in [net] profit based on its 2014 [unaudited] financial statements. LiveDeal intends to finance the potential acquisition using traditional debt financing, as the current debt market is favorable for such an acquisition, although the Company could close this potential transaction with cash on hand without incurring the debt. "LiveDeal continues to be focused on increasing stockholder value, and believes that taking advantage of favorable terms in debt financing for an acquisition that meets our requirements of consistent revenue growth and profitability are a way of achieving it without creating additional dilution," said Jon Isaac, CEO of LiveDeal. "We look forward to completing this acquisition and signifying to our stockholders our continued dedication to demonstrating value enhancement and strategic insight. Although we are quickly making good progress with definitive acquisition and financing documents and we are highly confident that we will be able to announce a closing in the near term, we cannot guarantee the timing of that announcement or its actual occurrence."