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IDI, Inc. Reports First Quarter 2015 ResultsIDI, Inc. (NYSE MKT: IDI), an information solutions provider and multi-platform media company, today announced its financial and operating results for the first quarter of 2015 ending March 31, 2015. Following the merger of Tiger Media, Inc. and The Best One, Inc. (TBO), completed on March 21, 2015, TBO was named the accounting acquirer. As a result, IDI, Inc.'s first quarter financial results reflect TBO and its wholly owned subsidiary, Interactive Data, LLC (News - Alert), and Tiger Media's results of operations only during the period from March 22, 2015 to March 31, 2015 and deemed insignificant. In addition, as IDI Holdings, LLC (f/k/a The Best One, Inc.) was formed on September 22, 2014, no comparative figures during the corresponding period in 2014 are presented. Key highlights for the first quarter of 2015 include:
Mr. Derek Dubner, Co-CEO of IDI, Inc. stated, "We are pleased to report that we have entered 2015 with a team and infrastructure that we believe can drive an entirely new level of growth opportunities for our Company. The strategic acquisition of TBO enabled us to successfully transition our business into the multi-billion dollar data fusion market where we can immediately begin defining IDI as a leading player. We believe that the collective experience of our management team, our established information technology platform and our ability to deliver unparalleled data analytics and linking technology to a number of diverse markets offers an incredible opportunity for growth in the months ahead." IDI, Inc. will maintain an advertising services division for established business and new opportunities within the out-of-home advertising industry but will focus future growth on its data fusion division. It has already carved a niche within the Accounts Receivable Management ("ARM (News - Alert)") industry and will now target the entirety of the risk management market to serve today's growing data fusion needs. About IDI, Inc. IDI, Inc. is an information solutions provider focused on the multi-billion dollar data-fusion market. IDI delivers otherwise unattainable insight into the ever-expanding universe of consumer and business centric data. Through proprietary linking technology, advanced systems architecture, and a massive data repository, IDI will address the rapidly growing need for actionable intelligence to support the entirety of the risk management industry, for purposes including due diligence, risk assessment, fraud detection and prevention, authentication and verification, and more. Additionally, IDI's cross-functional core systems and processes are designed to deliver an unrivaled level of clarity into consumer data to support advanced marketing analytics. IDI also operates a multi-platform media company operating in China, which provides advertising services in the out-of-home advertising industry, including iScreen Outdoor LCD screens and billboards. FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward looking statements include statements about whether we can drive a new level of growth opportunities for the Company, and whether our management, platforms and ability to deliver unparalleled data analytics to a number of diverse markets offers an incredible opportunity for growth, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the risk that the transaction between IDI, Inc. (f/k/a Tiger Media, Inc.) and IDI Holdings, LLC (f/k/a The Best One, Inc.) may involve unexpected costs or unexpected liabilities; and the other risks set forth in IDI's Annual Report on 10-K, filed with the SEC (News - Alert) on April 15, 2015, as well as the other factors described in the filings that IDI makes with the SEC from time to time. You are cautioned not to place undue reliance on these forward looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
(1) As IDI Holdings, LLC, the accounting acquirer of the merger consummated effective as of March 21, 2015, was incorporated on September 22, 2014, no comparative figures for the corresponding period in 2014 are presented.
(1) As IDI Holdings, LLC, the accounting acquirer of the merger consummated effective as of March 21, 2015, was incorporated on September 22, 2014, no comparative figures for the corresponding period in 2014 are presented.
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