IRVINE, Calif., Nov. 27, 2017 (GLOBE NEWSWIRE) -- AutoWeb, Inc. (Nasdaq:AUTO), formerly Autobytel Inc., a pioneer and leading provider of digital automotive services connecting in-market car buyers with dealers and OEMs, has been invited to present at the LD Micro investor conference being held December 5-7, 2017 at the Luxe Sunset Hotel in Los Angeles, CA.
AutoWeb management is scheduled to present on Wednesday, December 6 at 1:30 p.m., Pacific time, with one-on-one meetings held throughout the day.
The presentation will be webcast live and available for replay at http://wsw.com/webcast/ldmicro13/auto/ and via the investor relations section of the company's website at www.autoweb.com.
For more information about the conference or to schedule a one-on-one meeting with AutoWeb management, please contact your LD Micro representative.
Tax Benefit Preservation Plan
At December 31, 2016, the company had approximately $75.8 million in available net operating loss carryforwards ("NOLs") for U.S. federal income tax purposes. The company's Tax Benefit Preservation Plan ("Plan") was adopted by the company's Board of Directors to preserve the company's NOLs and other tax attributes and thus reduce the risk of a possible change of ownership under Section 382 of the Internal Revenue Code. Any such change of ownership under Section 382 would limit or eliminate the
ability of the company to use its existing NOLs for federal income tax purposes. Rights issued under the Plan could be triggered upon the acquisition by any person or group of 4.9% or more of the company's outstanding common stock and could result in substantial dilution of the acquirer's percentage ownership in the company. As of November 1, 2017, there were 13,083,313 shares of the company's common stock, $0.001 par value, outstanding. There is no guarantee that the Plan will achieve the objective of preserving the value of the company's NOLs. For more information, please visit investor.autoweb.com/tax.cfm.
AutoWeb, Inc., formerly Autobytel Inc., provides high-quality consumer leads, clicks and associated marketing services to automotive dealers and manufacturers throughout the United States. The company also provides consumers with robust and original online automotive content to help them make informed car-buying decisions. The company pioneered the automotive Internet in 1995 and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and has helped every major automaker market its brand online.
Investors and other interested parties can receive AutoWeb news alerts and special event invitations by accessing the online registration form at investor.autoweb.com/alerts.cfm.
Chief Financial Officer
Mansouri or Cody Slach
Source: AutoWeb, Inc.
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