ibiquity's investors were ready to "cash out"

[KB1OKL]

This from Inside Radio:

Strubie: "Meanwhile, iBquity’s financial investors were ready to cash out and the company was seeking a partner that could help kick it up a notch. “We knew that if we wanted to continue our growth and build our business, we’d be better suited with someone like DTS who understands what we’re doing and could help us reach that next level,” Struble says."

Does that sound to anyone besides me that Strubie is talking out of both sides of his mouth? On one hand Strubie insinuates that they were heading towards bellyupsville then the next he's talking about going to the next level. Judging from Strubies past penchant for exaggeration and stretching the truth I bet they were closer to liqudation than anyone here knows. I still say this is ibiquities latest Big Thing to keep them in the trade news, like those radios they were having made last year which went nowhere.

more at:

http://www.insideradio.com/news/aud...cle_fa6426ec-521d-11e5-9464-8f7b951d4679.html

 

[TheBigA]

Cashing out is not the same as going belly up. Cashing out means someone buys your share. Belly up means the investors take a loss. That's not what happened here.

 

[davideduardo]

Judging from Strubies past penchant for exaggeration and stretching the truth I bet they were closer to liqudation than anyone here knows.

Since DTS is a publicly traded company, we now have the true dimensions of iBiquity as part of the required disclosures. This year, revenues will be $40 to $50 million and net income will be $14 to $18 million. That's not "liquidation". That is a profitable company with a nice 30% profit margin on operations.

The original investors were broadcasters and venture capital firms. Usually, seed capital withdraws around the 7 year point, give or take, but of course that put the timing right in the recession. So, just as many postponed IPOs, the exit of the original investors came late.