Mississauga, ON -- (SBWIRE) -- 01/21/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Hipcricket Shares Crumble on News of Bankruptcy and Buyout by Sito Mobile."
Companies mentioned in this article include Hippcricket, Inc. (OTCQB:HIPP) and Sito Mobile Ltd. (OTCBB:SITO).
Generally speaking, news of a buyout is exactly what an investor loves to hear. Well, most of the time, anyway. It's certainly not music to an investor's ears when the press about being acquired includes words like "stalking horse" and "bankruptcy." Shares of Hippcricket, Inc. (OTCQB:HIPP) are cratering Wednesday morning after saying that it will be bought by Sito Mobile Ltd. (OTCBB:SITO) for $4.5 million as part of a prepackaged bankruptcy plan.
Hipcricket markets its AD LIFE platform, a unified mobile engagement platform designed to drive awareness, sales and loyalty that has been used for some 400,000 campaigns. Revenue through the first six months of fiscal 2015 ended August 31, 2014 (the last quarter reported by Hipcricket) totaled $14.34 million, up from $13.46 million in the year prior period. The company posted a net loss of a staggering $51.35 million, although $35.1 million of that was attributed to goodwill impairment. In fiscal 2014, the company reported 27% year-over-year revenue growth to $26.7 million. Net loss in fiscal 2014 was $22.3 million.
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