LiveDeal, Inc. Announces Completion of Audited Financials of Marquis Acquisition, Adding $37M in Assets and Nearly $60M in Annual Revenue

First Acquisition Completed by Newly Formed Subsidiary, Live Ventures, Inc.

LAS VEGAS, Sept. 22, 2015 /PRNewswire/ - LiveDeal, Inc., a diversified holding company (NASDAQ:LIVE)("Live Deal" or the "Company"), through its newly formed, wholly owned subsidiary, Live Ventures, Inc., today announced the financial statements for its previously announced acquisition of Marquis Industries, Inc. 

Marquis, and its affiliated subsidiaries, are specialty, high-performance carpet yarn manufacturers, hard-surfaces re-sellers, and top 10 high-end residential carpet manufacturers.  As disclosed in Live Deal's recent 8-K filing, Marquis netted nearly $9M in gross profit for the six months ended June 27, 2015 (unaudited).  Marquis is on target to exceed both its gross profits and net income compared to last year, which as of its most recent year-end (January 5, 2015), were $14.4M and $5.0M, respectively.  In addition, Marquis showed nearly $37M in assets (unaudited) as of June 27, 2015 and nearly $60M in revenue in its January 5, 2015 year-end.

"We have long expressed our commitment to optimized stockholder value, and we believe that the acquisition of Marquis, as well as the formation of Live Ventures, demonstrates that commitment by ensuring that our strategy is to reach sustainable and increasing profitability," said LiveDeal CEO, Jon Isaac.  "The Marquis acquisition will significantly improve our financials, and we look forward to ensuring that our business strategy moving forward remains dedicated to increasing profits, and maximizing value for 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.

Forward-Looking and Cautionary Statements
This press release may contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995.  In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company's actual results.  There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance.  The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014, recent Quarterly Reports on Form 10-Q, and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

Contact:
LiveDeal, Inc.
Tim Matula, investor relations
425-836-9035
[email protected]
http://livedeal.com/pressroom

SOURCE LiveDeal Inc.

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