Could this spell the demise of the Panamanian Parvenu's television empire?

More importantly, we'll never get to see the Merm again!!!

TV Shopping Channel Evine Seeks A Lifeline As Sales Sink And Brands Abandon Ship

This past January Nasdaq notified Evine that it had 180 days, or until July 15, to turn around or it would be delisted. At the time, its stock had been selling for under $1 for 30 days.

All Evine needs to get back into Nasdaq's good graces is ten consecutive business days above $1. Ever since late November 2018 when its stocks took a dive, it has been trading well under that.

Evine’s year-end financial report didn’t help matters. Released on March 27, it shows revenues have declined from $693 million in FY15 to $597 million in 2018.

On the plus side, the company reported cash generated from operations more than doubled that in 2017, inventory was reduced by 5%, operating expenses dropped 7.8%, and the average sale price increased 4% to $58 during the year.

At the same time, Evine wouldn’t provide guidance beyond first quarter 2019 when it expects sales to continue to fall from 12% to 14% compared to last year. In the earnings call, CFO Diana Purcel explained that was due to a “number of things in play and limited visibility on timing.”

The chief reason for not looking further out was CEO Bob Rosenblatt’s announcement during the call that the company had engaged Guggenheim Securities to review “strategic alternatives” to keep the company afloat . It claims access to over 87 million television sets and studios in Eden Prairie, Minnesota, and Los Angeles.

https://www.forbes.com/sites/pamdanzige ... d692ca6a8f

Frankly, I don't know how they've survived this far - they've never turned a profit in the 10 years we've been talking about them.

I think time's finally running out.

temerityb wrote:Frankly, I don't know how they've survived this far - they've never turned a profit in the 10 years we've been talking about them.

I think time's finally running out.

I read they had net income in 2018. The stock closed at $.38 on 5/1. One Analyst has a BUY rating. Last year I read an article they could go to $2 a share. I'm currently not into penny stocks. There have been rumors that Amazon considered buying them out. I wouldn't hold my breath though. No doubt a high risk investment.

Evine Live stock EVLV up 37% after hours.

Kind of lengthy report

Press Release: Evine Secures Multi-Million Dollar Strategic Investment & Exclusivity Commitment from The Invicta Watch Group; Tim Peterman Returns as CEO
4:47 pm ET May 2, 2019 (Dow Jones) Print
Press Release: Evine Secures Multi-Million Dollar Strategic Investment & Exclusivity Commitment from The Invicta Watch Group; Tim Peterman Returns as CEO

Evine Secures Multi-Million Dollar Strategic Investment & Exclusivity Commitment from The Invicta Watch Group; Tim Peterman Returns as CEO

Eyal Lalo, CEO of The Invicta Watch Group, joins Evine's Board as Vice Chairman; Bob Rosenblatt remains on the Evine Board.

MINNEAPOLIS, May 02, 2019 (GLOBE NEWSWIRE) -- Evine Live Inc. (NASDAQ:EVLV), a multiplatform interactive video and digital commerce company (evine.com), today announced as a part of its ongoing strategic alternatives review, the execution of several agreements with its largest and most tenured vendor, The Invicta Watch Group ("IWG"). Effective immediately, Evine has:

-- Sold $6 million of common stock at $0.75 per share, which was priced at a

97% premium to Evine's closing stock price on the day prior to signing

the purchase agreement, to investors ("Investors") that include, among

others, Eyal Lalo, CEO of IWG and Tim Peterman. The investors will also

receive five-year warrants to purchase an aggregate of 3.5 million shares

of common stock with an exercise price of $1.50 per share, a 295% premium

to Evine's closing stock price on the day prior to signing the purchase

agreement;

-- Secured a $5 million increase in its vendor line for IWG's family of

brands, subject to adjustment from time to time;

-- Secured IWG's commitment to invest an additional $25 million in product

for Evine in 2019;

-- Secured a 5-year TV retailing exclusivity commitment from IWG;

-- Appointed Eyal Lalo, CEO of IWG, as Evine's Vice Chairman, which is a

board role designed to work closely with the CEO in the operations of the

business;

-- Appointed Tim Peterman, Evine's former COO & CFO, as its new CEO;

-- Appointed Michael Friedman, a long standing IWG partner, to Evine's

board; and

-- Announced that Bob Rosenblatt, Evine's former CEO, will remain on Evine's

Board, where he will assist in the transition and continue to contribute

to Evine's strategy as a Board member.

Bob Rosenblatt, former CEO of Evine, said, "It is exciting to have Tim back to lead Evine on its continuing journey to profitability while utilizing his strong experience and relationships in interactive media and eCommerce to help us chart a compelling growth strategy. In addition, Eyal's financial commitment as an investor and his leadership as Vice Chairman will help us accelerate our brand building opportunities and strengthen our balance sheet. I couldn't be more excited as a board member and shareholder to have Tim and Eyal helping lead our organization into its next chapter."

Tim Peterman, CEO of Evine, said, "I look forward to working with Bob and his team during a collaborative transition. We have a great company today, and I believe we have a very bright future. As Bob knows, our vision for the company remains fundamentally unchanged; I look forward to working with the team and the Board on new growth strategies and expect to have further details on such strategies in the near term."

Eyal Lalo, Vice Chairman of Evine, said, "Fostering an entrepreneurial, fast-moving culture in which leaders and employees work to produce amazing results will be an important strategic priority for us. Tim and I look forward to playing a more active role in Evine's future."

In addition to Eyal Lalo and Michael Friedman joining the Board, Thomas Beers and Mark Holdsworth have resigned from the Board, effective today.

Landel Hobbs, Chairman of Evine, added, "Deepening our relationship with IWG adds value for both the company and its shareholders, especially as Evine continues to chart its course in the role of interactive video commerce in the future of retail, entertainment and media. In addition, Tim's strong experience and relationships in interactive media and eCommerce will help us continue to chart a compelling growth strategy and the deep expertise that Eyal brings to the Board will further enhance our strategies and execution. On behalf of Evine and the Board, I would also like to express my deep gratitude to Bob Rosenblatt for his leadership during the last three years--we have been made stronger through his work and look forward to his continuing contributions as a member of the Board. Similarly, I extend our thanks to Thomas Beers and Mark Holdsworth for their dedicated and valuable service on our Board."

Evine will grant performance stock units representing 680,000 shares of Evine common stock to Mr. Peterman on May 2, 2019, that were approved by the human resources and compensation committee of its Board as a material inducement to employment. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The performance stock unit grant shall vest one-third upon the one year anniversary of the grant date, one-third when the per-share closing price of Evine's common stock reaches or exceeds an average trading price of $2 for 20 consecutive trading days and Mr. Peterman has been continuously employed for at least one year from the grant date, and the remaining shares when the per-share closing price of Evine's common stock reaches or exceeds an average trading price of $4 for 20 consecutive trading days and Mr. Peterman has been continuously employed for at least two years after the grant date, and shall otherwise be subject to the terms and conditions of the applicable award agreement.

About Evine Live Inc.

Evine Live Inc. (NASDAQ:EVLV) operates Evine, a multiplatform interactive digital commerce company that offers a mix of proprietary, exclusive and name brands directly to consumers in an engaging and informative shopping experience via television, online and mobile. Evine reaches more than 87 million television homes with entertaining content in a comprehensive digital shopping experience offered 24 hours a day.

Please visit http://www.evine.com/ir for more investor information.

About Invicta Watch Group

INVICTA, the flagship brand of the INVICTA WATCH GROUP was founded in La Chaux-de-Fonds, Switzerland in 1837. The brand was reestablished in 1994 by Eyal Lalo who has been the CEO since inception. Under Eyal's leadership, Invicta has been recognized for its vast amount of design and product innovations targeted to all demographics and age groups and a strong following from collectors worldwide. Invicta designs over 1500 unique models per year and has received 55 design and mechanical patents and holds 1,250 trademarks. It has received the coveted Red Dot design award for product design and innovation. This long and rich heritage in innovation and design continues to define the Invicta brand identity and its unique and exclusive positioning in the watch industry.

In addition to Invicta, the group owns, designs, manufactures and distributes the TechnoMarine, S. Coifman, and Glycine Switzerland brands. Additionally, it has long-standing license agreements with Disney, Marvel, Star Wars, DC Comics, Warner Brothers, and the NFL for high end collectible and limited-edition watches. From high-end, luxury Swiss time pieces to accessible fashion watches, each of the Invicta brands is recognized for inherent quality and distinctive style within its price category. Collectively, the Invicta brands are sold throughout the Americas, Europe, Asia, and the Far East.

Invicta's history with Evine spans more than 20 years and is also rich with innovative collaborations. Invicta holds several records among Evine vendors for the highest sales hours, with 3 individual 1-hour time slots generating over $1 million in sales each. Invicta holds the largest customer following on Evine, largest Social Media following, largest driver of online sales, and has received over 25 awards from Evine including multiple awards for vendor of the year, product of the year, and many more including an award for being the first vendor to have reached over $1 billion in sales on the network. Invicta and Evine have collaborated on 3 Invicta themed cruises, over 90 remote events from various locations including the Exumas in the Bahamas, Los Cabos Mexico, Miami, Key Largo, and Cancun Mexico. We believe this new investment and partnership will expand on these milestones and further drive growth for Evine.

About Tim Peterman

Tim is relocating to Eden Prairie, MN in May, leaving his current role as COO & CFO of Amerimark Interactive (amerimarkinteractive.com), an eCommerce company with $750+ million in annual revenues headquartered in Chicago.

Tim originally joined Evine as its CFO in 2015, and was promoted to COO & CFO in 2017, which was the first year in 10 years that Evine produced positive net income.

Tim is an Interactive Media executive with 25+ years of diversified operational, M&A and financial management experience for publicly held and private industry leaders in media, eCommerce and technology. He has held senior executive roles in companies including: IAC, Scripps Interactive, Tribune, Sinclair, and J. Peterman. Mr. Peterman began his career at KPMG in Chicago in 1989, is a CPA and holds a BS in accounting from the University of Kentucky.

Contacts

Media:

Jordan Titus

[email protected]

(952) 943-6580

Investors:

Michael Porter

[email protected]

(952) 943-6517

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

(MORE TO FOLLOW) Dow Jones Newswires

May 02, 2019 16:30 ET (20:30 GMT)

Press Release: Evine Secures Multi-Million Dollar -2-

Summation:

Invicta 24/7 or close to it

JAS1125 wrote:Summation:

Invicta 24/7 or close to it

Or I coulda/shoulda bought 1000 shares at $.38 and doubled my money if it goes to $.75. We'll see what happens tomorrow.

GeorgeH wrote:

JAS1125 wrote:Summation:

Invicta 24/7 or close to it

Or I coulda/shoulda bought 1000 shares at $.38 and doubled my money if it goes to $.75. We'll see what happens tomorrow.

I was thinking the same thing about the stock

Eyal as white knight. This is a new look for him.

conjurer wrote:Eyal as white knight. This is a new look for him.

"White knight." Hoo boy.

Frankly, I think this all is about to be a hilarious FUBAR event of epic proportions. Maybe Lalo will re-hire people like Skelton and turn Evine into Invicta Live, the only 24-hour TV crap watch network. I've stated it before (tho not here): I don't care about the marathon shows, the cruises, whatever claims are made and laid - Invicta is a house of cards build on the still-enraged backs of the hundreds of thousands of customers it's shamelessly bilked.

My meaningless prediction: The whole operation goes dark by November.

Yeah, and maybe Tag Heuer will re-hire Tiger Woods to do endorsements.

If Tiger wins another Masters, Tag will be knocking.

temerityb wrote:. Maybe Lalo will re-hire people like Skelton and turn Evine into Invicta Live, the only 24-hour TV crap watch network.
My meaningless prediction: The whole operation goes dark by November.

You do have to wonder a bit if the 24/7 Invicta will come true.
With Lalo in this new role, how can they do any other shows featuring Seiko, Croton, Casio without him screaming conflict of interest?

Apparently Eyal Lalo is the only one making money at Evine. Invictas infusion at this point resembles the bilge pump lowered by the Coast Guard. To expand on what TB said, I could see it ending with an obscure Invicta cable channel similar to Smoky Mountain Knife Works.

Mark wrote:Invictas infusion at this point resembles the bilge pump lowered by the Coast Guard.

Priceless.

Like 'em or hate 'em, I decided to buy some Evine Live EVLV shares today. The stock traded between $.47 to $.70 and I got in at $.62. They closed at $.37 yesterday before the news broke. A lot of interest in the stock with 18,937,508 shares trading volume. A lot when considering Apple volume was 20,847,120 (a light day). Plenty of material for jokes, but I hope to make some money although only 1% of my total portfolio is in this stock. Lalo and the return of the old CEO are catalysts, but we'll see what happens. Don't know why some call them "TV watches". Evine sells Apple iPhones..are they TV Phones? I watch EVINE for the watches but decided to check out HSN and QVC which I never watch to see what kind of watches they sell. Some familiar names but many I never heard of.

More on Dr. Evil's Lalo's new ploy, from Minnesota's Star-Tribute:

Cable shopping network Evine Live has received a $6 million infusion of cash in a stock deal driven by one of its longest and most profitable vendors, the Invicta Watch Group.

The multifaceted deal provides Invicta and its partners sweeping control over Evine, which has been reviewing strategic alternatives to try to regain profitability.

With the deal comes a new CEO: Tim Peterman, one of the stock investors and a former top executive of the Eden Prairie-based company.

Current chief executive Bob Rosenblatt was terminated without cause, the company said in a regulatory filing Friday. Evine said that Rosenblatt did not resign from the board, and will retain his seat for now.

Evine shares gained 24 cents to close Friday at 61 cents, a daily gain of 66% on the Nasdaq Stock Market.

Based in Hollywood, Fla., Invicta has been selling its line of watches through Evine for more than 20 years. The additional financial backing in Evine, a distant third to QVC and HSN, accords the watchmaker immediate influence over Evine's daily operations and long-term vision.


Invicta Watch Group CEO Eyal Lalo was named vice chair of the Evine Live board of directors after he and others invested $6 million in a stock deal with the cable shopping channel in May 2019. Invicta is one of Evine's longest and most profitable vendors.
More
Invicta CEO Eyal Lalo, 44, whose investment company sank $4 million into the stock, was named vice chair of the board. Another associate, Michael Friedman, whose company is the exclusive TV shopping distributor for Invicta products, also will join the board. Friedman, 48, and Leah Friedman invested $1.35 million in the stock deal.

The investors purchased Evine stock at 75 cents, nearly double its trading price at the time. They also have five-year warrants to purchase up to 3.5 million shares at $1.50.

Peterman, 52, had been chief operating officer and chief financial officer of Amerimark Interactive, a Chicago-based e-commerce company with $750 million in sales. He was first hired by Evine in 2015 as its chief financial officer. He added the chief operating officer title in 2017, the year Evine produced its first profit in a decade. He left the company in April 2018.

Peterman purchased stock worth $125,000.

As part of the deal, Invicta extended a $5 million line of credit for Evine to purchase additional inventory. It also said it would invest $25 million in product for Evine for the fall season, and agreed to a five-year exclusive TV retail partnership.

Evine Live reaches about 88 million homes through its cable channels and online site. It has felt the squeeze in recent years as younger consumers have cut the cord from cable and online retailers such as Amazon have risen in prominence.

In January, Nasdaq warned the company that it was in danger of being delisted from the stock exchange because shares were trading below $1 at the closing bell for 30 consecutive business days. Evine has until July 15 to come into compliance.

Peterman said in a statement that he expects a "collaborative transition."

"As Bob knows, our vision for the company remains fundamentally unchanged," he said. "I look forward to working with the team and the board on new growth strategies and expect to have further details on such strategies in the near term."

http://www.startribune.com/evine-live-g ... 509428771/

Farewell Merm...

We'll never see your kind again
The phones won't be on fire anymore.

JAS1125 wrote:Farewell Merm...

We'll never see your kind again
The phones won't be on fire anymore.

Sure seems that way, doesn't it. Then again - imagine the markdowns when they clear out the storage area of anything but IWG crud.

temerityb wrote:

JAS1125 wrote:Farewell Merm...

We'll never see your kind again
The phones won't be on fire anymore.

Sure seems that way, doesn't it. Then again - imagine the markdowns when they clear out the storage area of anything but IWG crud.

Markdowns have already begun.
I also had a coupon code spring525 for 25% off but I'm not buying anything there

JAS1125 wrote:

temerityb wrote:. Maybe Lalo will re-hire people like Skelton and turn Evine into Invicta Live, the only 24-hour TV crap watch network.
My meaningless prediction: The whole operation goes dark by November.

You do have to wonder a bit if the 24/7 Invicta will come true.
With Lalo in this new role, how can they do any other shows featuring Seiko, Croton, Casio without him screaming conflict of interest?

Eyal wants the dolla. He sold his granny out to the Russians to make that dolla. He will do and say what ever it takes and if that doesn’t work he will open shopnbc up to the mob for money laundering.