Interchange (NASDAQ:INCX)
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From Jun 2019 to Jun 2024
Interchange Corp. (NASDAQ:INCX), owner of Local.com, a
leading local-search engine, today announced that it has retained
investment banking firm Merriman Curhan Ford & Co. to assist in
reviewing strategic alternatives available to the company in
connection with its National Search business. Merriman Curhan Ford &
Co. will help the board analyze options including, but not limited to,
the combination, sale or merger of the National Search business with
another entity.
"The management and board of directors of Interchange believe that
the launch of the Local.com has been a success, with considerable
gains in traffic, market share and revenue achieved thus far. Two
primary goals are to become number one in local search and to achieve
profitability," said Heath Clarke, chairman and chief executive
officer of Interchange. "We believe that becoming a pure-play
local-search business will enable us to focus all of our human,
technical, and financial resources on local search. We further believe
that shareholder value will be created to the extent that we achieve
our objectives in local search."
The company stated that there can be no guarantee that this
initiative will result in a transaction, or that we will receive any
suitable terms or timing for such a transaction. The company may not
provide updates with respect to this initiative until such time as the
board of directors has approved a definitive course of action.
About Interchange
Interchange Corp. (NASDAQ:INCX) owns Local.com (www.local.com), a
leading local-search engine that has grown to over 8 million visitors
per month and is powered by the company's proprietary Keyword DNA(TM)
and local-web indexing technologies. The company serves local and
national Internet, wireless and operator-assisted local-search markets
in the United States and Europe. Interchange generates revenue
principally from paid-search advertising. The company recently
launched a 60,000-strong domain syndication network in the United
States, and has also announced plans to launch Local.com in various
markets during 2006.
The company has headquarters in Irvine, with European headquarters
in Stockholm, Sweden. For more information on Interchange, please
visit: www.interchangeusa.com.
Forward-Looking Statements: All statements other than statements
of historical fact included in this document regarding our anticipated
financial position, business strategy and plans and objectives of our
management for future operations, are forward-looking statements. When
used in this report, words such as "anticipate," "believe,"
"estimate," "plans," "expect," "intend" and similar expressions, as
they relate to Interchange or our management, identify forward-looking
statements. Any forward-looking statements are based on the beliefs of
our management as well as assumptions made by and information
currently available to our management. Actual results could differ
materially from those contemplated by the forward-looking statements
as a result of certain factors, including, but not limited to, our
ability to stabilize our national paid-search advertising business,
our ability to operate, grow and monetize our local-search engine,
Local.com, and incorporate our local-search technologies, market the
Local.com domain as a destination for consumers seeking local-search
results, grow our business by enhancing our local-search services,
improve our filtering technologies expand our Advertiser and
Distribution Networks, expand internationally, integrate the
operations and effectively utilize the technology of Inspire, a
Swedish Internet and wireless local-search technology company, which
we recently acquired, integrate the operations and effectively utilize
the technology of Inspire, develop our products and sales, marketing,
finance and administrative functions and successfully integrate our
expanded infrastructure, as well as our dependence on major
advertisers, competitive factors and pricing pressures, changes in
legal and regulatory requirements, and general economic conditions.
Any forward-looking statements reflect our current views with respect
to future events and are subject to these and other risks,
uncertainties and assumptions relating to our operations, results of
operations, growth strategy and liquidity. All subsequent written and
oral forward-looking statements attributable to us or persons acting
on our behalf are expressly qualified in their entirety by this
paragraph.
Our Annual Report on Form 10-KSB, subsequent Quarterly Reports on
Form 10-QSB, recent Current Reports on Form 8-K, and other Securities
and Exchange Commission filings discuss the foregoing risks as well as
other important risk factors that could contribute to such differences
or otherwise affect our business, results of operations and financial
condition. The forward-looking statements in this release speak only
as if the date they are made. We undertake no obligation to revise or
update publicly any forward-looking statement for any reason.