AutoWeb Inc (AUTO) News

$AUTO CVNA Sympathy ?!

Beep beep, Thelma and Louise driving this AUTO.

How can it still be Trading over 70 cents a share if the company is contemplating bankruptcy?

5/17/22 2:00 PM

Company doesn't believe it has enough cash to keep going for the rest of 2022

Shares of AutoWeb Inc. suffered a record plunge in active trading Tuesday, after the provider of marketing services to auto dealers and manufacturers warned investors that it had "substantial doubt" in its ability to continue as a "going concern" given its troubled cash position.

The company (AUTO) disclosed in its 10-Q filing with the Securities and Exchange Commission late Monday that it had $ 3.8 million in cash and cash equivalents as of March 31 but had an accumulated deficit of $359.7 million.

"Based on current operating and cash forecasts, the company does not believe that it currently has sufficient cash to sustain operations for the entire remainder of 2022," the company stated in the 10-Q.

Going Bankruptcy anytime!

.."management believes that there is substantial doubt about the Company’s ability to continue" ...

Loading this dip for the rip!$$$

1st qtr sales r higher than current market cap lol... take from the weakhands while u can..

Market Cap is lower than 1st qtr sales.. take from the weak hands...

Get ready for some upside $AUTO action???

https://www.wsj.com/articles/everything-must-go-the-american-car-dealership-is-for-sale-11631332812

NEWS: $AUTO AutoWeb Appoints Michael Sadowski to Chief Financial Officer

TAMPA, Fla., Nov. 19, 2020 (GLOBE NEWSWIRE) -- AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, has appointed Michael Sadowski as executive vice president and chief financial officer (CFO), succeeding ...

Got this from AUTO - AutoWeb Appoints Michael Sadowski to Chief Financial Officer

Breaking News: $AUTO Top Penny Stocks To Watch Right Now; 5 Testing October Highs

These Penny Stocks Are Seeing Positive Performance Penny stocks are defined as equities trading under $5. These low-cost stocks provide an easier way for new investors to enter the market due to their price. In 2020, people have been seeking new revenue streams due to the hardships ...

Got this from AUTO - Top Penny Stocks To Watch Right Now; 5 Testing October Highs

AUTO on the move here....


AUTO

* * $AUTO Video Chart 08-31-2020 * *

Link to Video - click here to watch the technical chart video

JUST IN: $AUTO AutoWeb to Present at Upcoming Investor Conferences

TAMPA, Fla., Aug. 31, 2020 (GLOBE NEWSWIRE) -- AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing advertising solutions for automotive dealers and OEMs, is attending the following financial conferences in September 2020:   LD Micro 500 Conference Pres...

Read the whole news AUTO - AutoWeb to Present at Upcoming Investor Conferences

$5.35

* * $AUTO Video Chart 08-27-2020 * *

Link to Video - click here to watch the technical chart video

Just In: $AUTO 9th Annual Gateway Conference to Virtually Showcase Leading Companies on September 9-10, 2020

Executives from a Range of Industries to Present to 500+ Institutional Investors & Analysts NEWPORT BEACH, CA / ACCESSWIRE / August 27, 2020 / The Gateway Conference is back for its 9 th year and will showcase both public and private companies virtually on September 9 th and 10 th...

Got this from AUTO - 9th Annual Gateway Conference to Virtually Showcase Leading Companies on September 9-10, 2020

$4.22

$4.00 nice

* * $AUTO Video Chart 08-20-2020 * *

Link to Video - click here to watch the technical chart video

I understand Carvana is acquiring

News: $AUTO AutoWeb Reports Preliminary July 2020 Results

TAMPA, Fla., Aug. 19, 2020 (GLOBE NEWSWIRE) -- AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing advertising solutions for automotive dealers and OEMs, is reporting select preliminary unaudited results for July 2020. July 2020 Preliminary Unaudited Results ($...

In case you are interested AUTO - AutoWeb Reports Preliminary July 2020 Results

News: $AUTO Data and Connectivity Take Center Stage in Changing World of Automobile Technology

NetworkNewsWire Editorial Coverage : Technology is transforming the automotive industry. Data is changing vehicle manufacturing and the way customers buy. Connectivity is transforming the relationships between customers and their vehicles. New technology such as blockchain provides ...

Read the whole news https://marketwirenews.com/news-releases/data-and-connectivity-take-center-stage-in-changing-world-of-automobile-technology-7899530.html

So much progress over the years.

And so the promise of AUTO to pay the creditors and stockholders $1 per share comes to an end successfully. I was in this years ago when it went from 50 cents to 3 cents then to $2 and back to a buck.
Good luck to all.

Is there a way of finding out the reasoning behind the Board of Directors' decision to make this current deal? Were there any other offers made by other parties?

I see there are a bunch of law firms lined up agaianst this merger and they all ask if I want more info, to fill out a form. I really have no desire to get involved in a court issue. I recently purchased my shares because the company looked to be a growing stable company. Another company I own stock in is rapidly growing through acquisition and Auto was a company that may or may not have been on their acquisition list. I would have felt comfortable if it was that company. I have no idea who the current acquirer is or their track record.

Thank you for the information. With the stock being bought out at $ 1.05/share why wouldn't current shareholders be selling at the current $ 1.08/share price?

Shareholders will get to vote on the acquisition. It's likely to go through but shareholders should be very unhappy, encouraging large shareholders to push for a higher price or to vote against the merger.

For companies in the industry with >100mm annual revenues, average acquisitions since 2008 have been over 9x EV/EBITDA. The Autoinfo acquisition is priced at 6x, even though it has ~300mm in annual revenues. Think about it, should a fast growing company with solid earnings be sold for less than a 10 P/E? NO.

There are scale advantages in the industry, so larger companies are valued higher, but even the smallest firms have average acquisition prices above 7x EV/EBITDA.

Enterprise value is about 10.6mm more than the market cap, and EBITDA for the trailing twelve months is about 7.8mm.

Current holders may have decent profits now, but we are getting a really raw deal on this.

Ok, now what happens from here? I bought in at .92, should I sell? I have never had this situation happen, can someone explain what occurs now?

When AUTO took over the shell name, they promised all debtors $1 a share price. Looks like they lived up to their name.

Looks that way, I'm ok with it, my average price per share .59

To those who bought in the .90s, not so much but still a small profit.

Congrats to all AUTO longs.

MS99

So this stock is going private and disappearing?

AutoInfo, Inc. Announces Agreement to Be Acquired by AutoInfo Holdings, LLC, a Subsidiary of Comvest Partners

BOCA RATON, FL, Mar 01, 2013 (MARKETWIRE via COMTEX) -- AutoInfo, Inc. (OTCBB: AUTO) (the "Company" or "AutoInfo") announced today that the Company has entered into a merger agreement with AutoInfo Holdings, LLC, a subsidiary of Comvest Investment Partners IV, L.P., one of the investment funds managed by Comvest Partners ("Comvest"), pursuant to which Comvest has agreed to acquire the Company for $1.05 per share in cash, which represents a 7% premium to the Company's closing share price on February 28, 2013 and a 21% premium to the Company's average closing share price for the six month period ending February 28, 2013.

The Company's Board of Directors has unanimously approved the merger agreement with Comvest and has resolved to recommend that the Company's stockholders adopt the merger agreement and approve the merger.

Harry Wachtel, the Company's Chief Executive Officer, said, "Comvest's growth strategy is to acquire well managed companies that are leaders in their market and effectively oversee their performance. The merger will allow for greater stability, focus, and flexibility for AutoInfo to achieve its strategic goals and growth. I believe that the transaction will yield benefits to each of our customers, employees and agents."

Mark Patterson, Chairman of the Company's Strategic Initiatives Committee and the Special Committee of the Company's Board of Directors with respect to the proposed transaction added, "I am pleased that the hard work of our team has yielded this opportunity for our stockholders to realize on the value we have created."

John Caple, Managing Director of Comvest said, "We are excited to partner with the team at AutoInfo. They have created an impressive track record of growth and we look forward to the success of the Company going forward."

check their website http://www.suntecktransportgroup.com/autoinfo-inc-history.html

They are very prompt at reporting. That was one thing I liked about them. When they first took over the ticker auto they had a lot of losses to write off making them more profitable because they didn't have to legally pay taxes for a while.

Good luck in your investing.

I've only been following since mid December when they were at .92 a share. I've read previous posts here and what little info I can find. Seems to be a legit company with up side. Shouldn't their lastest quarter earnings be due shortly? Any way to find out when?

AUTO has been very consistent in their reporting. I saw this go from 3 cents to a over a buck.

Any idea when AUTO will post latest earnings?

This one sure makes big moves on very low volume

AUTO still trying to break $1. Solid company, fully reporting and profitable...should soon.

MS99

I read that info prior to contacting you. I own shares of one of the companies mentioned in that same article.I am up 71.98% with that stock. The CEO of that company has been agressively growing the company through aquisitions among other ways. They look to be searching for another candidate and AUTO seems to fit the bill. I was thinking of opening a position in AUTO for 2 reasons. It has demonstrated steady growth and good management and the fact that this other company is looking for those same attributes.
Also mentioned this to you because of my past communications with you on the other company we are both unfortunate enough to have dropped some money on. Hope this one can help us make some of it back.

After reading the recent financial reports, and doing some DD, AUTO seem like a very legit company with solid growth, a good share stucture, and increasing revenue stream.
Read this article from Dec.06, 2012, from the link posted below. They feel that AUTO should be valued at around $2.00 per share based on 2013 estimate of EPS of .015.
Hope this helps.

http://seekingalpha.com/article/1048651-autoinfo-a-growing-truck-freight-broker-not-priced-like-one?source=yahoo

Badgerbob...Hope you are reading this. What do you think about AUTO? Would like to talk to you about this one.

"AUTO might be too small for big investors to pay attention to it, but at $300 million of gross revenue, it is plenty large to be of interest to a number of 3PL industry players. Its growth prospects are superb and its current price makes it a compelling bargain. How much longer will it trade publicly?

Monte Sol and its affiliates own shares of AUTO."

AUTO .775 The Company reported net income and basic earnings per share were $831,000 and $.02 per share, respectively, as compared with $655,000 and $.02 per share for the prior year period.

AutoInfo, Inc. Announces Second Quarter Results
On Monday August 8, 2011, 8:00 am

BOCA RATON, FL--(Marketwire -08/08/11)- AutoInfo, Inc. (OTC.BB: AUTO.OB - News), a non-asset based transportation services company, today announced results of its operations for the quarter and six months ended June 30, 2011.

For the six months ended June 30, 2011, the Company reported gross revenues of $162.4 million as compared with $126.5 million for the prior year period. Income from operations was $2.8 million as compared with $2.2 million for the prior year period. Net income was $1,565,000 and basic earnings per share were $.05 per share for the current period, as compared with $1,153,000 and $.03 per share for the prior year period.

For the three month period ended June 30, 2011, the Company reported gross revenues of $87.0 million as compared with $69.6 million for the prior year period. Income from operations was $1.6 million as compared with $1.4 million for the prior year period. Net income was $905,000 and basic earnings per share were $.03 per share for the current period, as compared with $728,000 and $.02 per share for the prior year period.

Harry Wachtel, President, stated, "We are pleased to report second quarter and six month results reflecting significant increases in revenues and profits over the prior year period. In 2011, we have continued to broaden our service lines and expand our agent network as we continue to focus on opportunities through both intrinsic and external growth. In July we acquired the non-asset based truck agent business unit from a significant agent. This business unit has a seasoned and talented management team, 16 independent sales agents and over 300 owner-operators. We are excited about this new growth opportunity and are poised to continue to broaden our transportation service offerings, expand our agent network and to seek out strategic growth opportunities."

AutoInfo, Inc. operates in two business segments, non-asset based transportation services and agent support services. The non-asset based transportation services segment includes our brokerage and contract carrier services which are provided through a network of independent sales agents throughout the United States and Canada. Revenue in this segment is generated from freight transportation transactions. The agent support services segment includes an array of services that we provide to our agent network to support and encourage the expansion of our agents' businesses, primarily financial support through interest bearing long-term loans and non-interest bearing short-term loans, as well as other services including training, margin analysis, marketing assistance, industry and market segment data and business analysis tools. Revenue in this segment consists primarily of interest on interest bearing loans.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.


CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Unaudited

Six Months Ended June 30 Three Months Ended June 30
2011 2010 2011 2010
-------------- -------------- ------------- -------------

Gross revenues $ 162,444,000 $ 126,476,000 $ 86,965,000 $ 69,561,000
-------------- -------------- ------------- -------------

Income from
operations 2,832,000 2,241,000 1,592,000 1,380,000
-------------- -------------- ------------- -------------

Income before
income taxes 2,549,000 1,887,000 1,470,000 1,187,000
Income taxes 984,000 734,000 565,000 459,000
-------------- -------------- ------------- -------------

Net income $ 1,565,000 $ 1,153,000 $ 905,000 $ 728,000
============== ============== ============= =============

Net income per
share:
Basic $ .05 $ .03 $ .03 $ .02
Diluted $ .04 $ .03 $ .03 $ .02
Weighted average
number of Common
shares:
Basic 33,760,000 33,496,000 33,916,000 33,496,000
Diluted 35,415,000 34,548,000 35,515,000 34,711,000


CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2011 AND DECEMBER 31, 2010

June 30, December 31,
2011 2010
-------------- --------------
(Unaudited) (Audited)
Current assets:
Cash and cash equivalents $ 375,000 $ 316,000
Accounts receivable, net 50,083,000 49,736,000
Current portion of advances and other assets 10,615,000 2,117,000
Prepaid expenses 1,535,000 1,139,000
Deferred income taxes 135,000 135,000
-------------- --------------
Total current assets 62,743,000 53,443,000

Other assets 5,268,000 13,284,000
-------------- --------------

Total assets $ 68,011,000 $ 66,727,000
============== ==============

Current liabilities:
Accounts payable and accrued liabilities $ 26,229,000 $ 23,188,000

Loan payable 19,028,000 22,432,000

Stockholders' equity 22,754,000 21,107,000
-------------- --------------

Total liabilities and stockholders' equity $ 68,011,000 $ 66,727,000
============== ==============

Contact:



Contact:
William I. Wunderlich
Chief Financial Officer
(561) 988-9456 ext 201

10bagger, Mike, et al,

Sure could use some clarity as to whether it was forced (i.e. the seller would have gone under otherise), or whether AUTO thought this was a good, accretive fit.

IMO, some of the evidence provided gives the forced scenario a bit higher probablility. AUTO was getting well over 10% in interest on the $9 plus million owed to them by the seller, so they will lose that income, and of course that $9 million asset is lost. In return they get the biz, but at least in the latest period it was stated in the 8k that the seller had a loss. And AUTO (as per the 8k) was getting 25% of pretax income greater than zero from the seller prior to this transaction.

A listing of the value of assets/liabilities acquired would certainly be helpful, especially the a/r and a/p (if those are part of the deal).

One other thing, the deal wont effect the current reporting quarter...and they should put up strong numbers in a little while.

Anyway, good luck.

AUTO..$0.53

I have tried to sell for the past week and stock was always offered just below my offer.. As I had few shares left I decided to hit the bid and sell.. It appears the seller a couple of weeks ago knew what he was doing.. GLTA.. hank

No, they aren't. What they purchased was an independent sales agent of AUTO. So, to an extent they were a part of AutoInfo but not entirely.

arent both parties fully owned subs of Auto?


...edit...nevermind, I see.