November 13, 1998 |
Irvine-based Scoop Inc. has completed its previously announced deal to sell its fee-based online news service for $300,000 in cash to Solutions Corp. of America in Nashville, the company said Thursday. The sale of Scoop's last major asset is part of the company's bankruptcy reorganization. The company's stock closed Thursday at 17 cents, down 5 cents a share.
August 1, 1998 |
Money-losing Scoop Inc. filed for bankruptcy protection Friday as part of a plan to sell the bulk of the Santa Ana-based Internet news service's operations over the objections of some investors. The filing shows that Scoop has about $950,000 in assets and $1.4 million in liabilities. The company, which raised about $6 million in its public stock offering in April 1997, posted a second-quarter loss of $643,000 just two months later.
July 15, 1998 |
Scoop Inc. said Multimedia KID-Intelligence in Education Ltd. terminated its agreement to be acquired by Scoop because the Irvine company has been delisted from the Nasdaq SmallCap Market. Scoop said the collapse of the deal puts its future "in substantial doubt." The Internet-based news service said its board is considering several alternative plans, but it is "highly unlikely" that it will be able to continue as a going concern if it doesn't complete an alternative transaction soon.
June 26, 1998 |
Scoop Inc. said Thursday that it has been delisted from the Nasdaq SmallCap market, a move that could unravel its proposed acquisition of an Israeli company. The Santa Ana Internet news service said the exchange denied its request for a temporary exemption from certain listing requirements, a move it sought to complete its purchase of Multimedia KID-Intelligence in Education. Scoop said it may appeal the decision.
May 10, 1998
Scoop Inc., a Santa Ana marketer of media reprints, reported a net loss of $1.1 million, or 21 cents a share, for the first quarter, compared with a year-earlier net loss of $567,700, or 20 cents a share. Sales gained 12% to $532,700 from $476,300. The company also said Friday that it had agreed to sell its Scoop Media Services division to the Call Co. in Laguna Hills for $1.3 million and the assumption of up to $150,000 in liabilities.
March 8, 1998
Scoop Inc., which designs and markets customized media reprints and framed layouts of articles from newspapers, magazines and online publications, reported a fourth-quarter net loss of $1.7 million, or 31 cents a share, compared with a net loss of $746,200, or 20 cents a share, for the corresponding period in 1996. Sales rose 31% to $545,800 from $417,500. For the year, the net loss was $5 million, or $1.01 a share, compared with a net loss of $2.2 million, or 64 cents a share, for 1996.