2013-09-16 20:55:03 -
Merriman Capital Initiates on Local Corporation with a Buy Rating
SAN FRANCISCO - September 16, 2013 - Merriman Capital, Inc. ("Merriman"), a
wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced
today that it has initiated equity research coverage of Local Corporation ("the
Company") (NASDAQ: LOCM) at Buy and a $4.50 price target.
Headquartered in Irvine, California, Local Corporation provides a powerful &
localized online search platform that leverages strong distribution agreements
with the world's leading web search gorillas: Google and Yahoo!/Bing. The
company was founded under the name eLiberation in 1999 as a search aggregator
working with a network of websites to publish national advertisements. It then
launched a new
web site, www.local.com, as an internal web portal, which shifted
the company's focus away from national advertisements to regionally-based ads.
Now the company has grown further by leveraging this platform with established
digital media companies across the country to create new local venues for online
local search and advertising.
The company's "owned & operated" (O&O) web portal, www.local.com,
powerful search engine and online shopping data aggregation platform. It can be
used as a basic search platform to search for anything, especially if it is
focused within a select location. When consumers use the platform coupled with
its many regional media publishers, Local provides a wealth of community-based
search data that sets it apart as a unique data resource.
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About Merriman Capital, Inc.
Merriman Capital, Inc. is a corporate advisory-focused registered investment
bank that provides equity and options execution services, market making, and
differentiated research for high growth companies. The firm also provides
capital formation, advisory, and M&A services. Merriman Capital, Inc. is a
wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is the
leading investment banking firm for unique high-growth companies. For more
information, please go to www.merrimanco.com
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial
Industry Regulatory Authority (FINRA) www.finra.org/
and the Securities
Investor Protection Corporation (SIPC) www.sipc.org/
Note to Investors
This press release contains certain forward-looking statements based on our
current expectations, forecasts and assumptions that involve risks and
uncertainties. This release does not constitute an offer to sell or a
solicitation of offers to buy any securities of any entity. Forward-looking
statements in this release are based on information available to us as of the
date hereof. Our actual results may differ materially from those stated or
implied in such forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors disclosed in our
Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013.
Forward-looking statements include statements regarding our expectations,
beliefs, intentions or strategies regarding the future and can be identified by
forward-looking words such as "anticipate," "believe,"
"expect," "intend," "may," "should," and
"would" or similar words. We assume no
obligation to update the information included in this press release, whether as
a result of new information, future events or otherwise. The Form 10-K-A filed
on April 30, 2013 and the Form 10-Q filed on August 14, 2013, together with this
press release and the financial information contained herein, are available on
our website, www.merrimanco.com. Please click on "Investor Relations."
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Director of Research
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc
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