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In at 42...the link disappears if you don't register...here's the story:
Mark Cuban takes on concert CD venture
11:04 AM CST on Wednesday, January 25, 2006 By CRAYTON HARRISON / The Dallas Morning News
An investment firm owned by Dallas Mavericks owner Mark Cuban has agreed to buy a controlling stake in a Richardson-based company that sells CD recordings of live concerts minutes after the performances conclude.
Mr. Cuban’s firm, Radical Holdings LP, will pay $3 million, or about 68 cents per share, for shares representing about 95 percent of Immediatek Inc.’s outstanding shares, according to a filing with the Securities and Exchange Commission.
The transaction is expected to close in February.
Immediatek, led by chief executive Zach Bair, provides the concert CDs through its subsidiary DiscLive, acquired in 2004 for $833,000.
Mr. Bair and chief operating officer Paul Marin will remain with the company in their current positions, Immediatek said.
Mr. Cuban did not immediately respond to an e-mail Wednesday. Mr. Bair declined to comment.
-------------------- I may be wrong, but I don't think so....
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With Cuban's involvment, is this finally a company with a long term potential? If you follow pennys posted on this board over the last year 95% have been pump and dumps maipulated by MM's.
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The thing about this is the news was in a Dallas paper but has not hit major newswires...when that happens look for another jump...
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NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IOCircuit.
LAKE HARMONY, PA -- (MARKET WIRE) -- 01/26/06 -- The IO Circuit recommends Immediatek Inc. (OTC BB: ITEK), which announced an investment firm owned by Dallas Mavericks owner Mark Cuban has agreed to buy a controlling stake in a Richardson-based company that sells CD recordings of live concerts minutes after the performances conclude.
Mr. Cuban's firm, Radical Holdings LP, will pay $3 million, or about 68 cents per share, for about 95 percent of Immediatek Inc.'s outstanding shares, according to a filing with the Securities and Exchange Commission. Immediatek chief executive Zach Bair and chief operating officer Paul Marin will remain with the company in their current positions. Mr. Cuban did not respond to an e-mail Wednesday. Mr. Bair declined to comment. Immediatek shares rose 16 cents to close at 19 cents.
Other active stocks are China Development Group Corp (NASDAQ: CTDC), Allion Healthcare, Inc. (NASDAQ: ALLI) and Kulicke & Soffa Industries Inc. (NASDAQ: KLIC)
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Mr. Cuban's firm, Radical Holdings LP, will pay $3 million, or about 68 cents per share, for about 95 percent of Immediatek Inc.'s outstanding shares, according to a filing with the Securities and Exchange Commission. Immediatek chief executive Zach Bair and chief operating officer Paul Marin will remain with the company in their current positions. Mr. Cuban did not respond to an e-mail Wednesday. Mr. Bair declined to comment. Immediatek shares rose 16 cents to close at 19 cents.
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Jan 26, 2006 (M2 PRESSWIRE via COMTEX) -- The Emerging Stock Report is initiating coverage on Immediatek's (OTCBB:ITEK) up 47% today. Immediatek's subsidiary, DiscLive is the pioneer in the quickly growing market of live discs made available immediately after a live event. The company is expanding its business rapidly as the live disc and media phenomena continues to grow. The company has completed tours from Vermont to California as well as in Canada and the United Kingdom, with its state-of-the-art mobile recording and production facilities (MRDF) that can produce 1,000 high quality CDs in less than 20 minutes, and recently introduced "instant" DVD products. The Dallas-based company is headed by musician and entrepreneur Zach Bair, CEO In 2002, Immediatek developed an exclusive alliance with LCD Interactive, a software company focused on independent music, and subsequently acquired LCD in the Spring of 2003. Since its founding, the company has established groundbreaking product lines such as the NetBurn Secure digital distribution and copy control solution, and has acquired DiscLive, Inc. whose "live discs immediately after a concert" have captured the imagination of the recording and entertainment industry
DiscLive is a company which offers artists and labels the opportunity to have their concert event recorded and a thousand or more CDs available immediately after the show. Now, fans can watch a performance, and walk out of it holding it in their hands. There is no up-front cost for the artist or label, and there is no risk. This represents found money for all aspects of the music industry it is providing a new revenue stream for artists and labels. Not only are DiscLive's services appropriate for concerts, the company can also provide unique and special recordings of events such as church sermons, seminars, and graduations ceremonies.
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-------------------- I may be wrong, but I don't think so....
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I guess the obvious question for longs is...if Cuban is willing to pay .68 per share what is it going to be worth by the end of the year?
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My question is why was Cuban willing to pay .68 when it was trading for so much less? Could he not have bought 95% of the outstanding shares at a cheaper pps?
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now we come to a decision if you are flipping...big run up so you know many are tempted to take profits here in the last 2 hours...so do you sell now and bet that you beat the rest of the flippers then buy back lower OR to you see that bid stacking up at .4 and bet on an end of day run?....let the games begin
of course the other option is just hold...
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