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The Kelsey Report® Advisory

ImproveNet's Key Metrics Rise on Eve of Delisting
Charles Laughlin , 3/20/2001

Issue: The Best Proxy for the 'E-Commerce for Local Services' Model

News: On January 26, ImproveNet Inc. acknowledged that Nasdaq had notified the local services Web site company that it faced delisting unless it began trading above a dollar on a sustained basis. ImproveNet is one of the original providers of local service merchant matching.

In spite of announcements this month regarding new alliances with Allstate Insurance, CheckSpace and National Credit Systems, ImproveNet's stock closed at $0.47 yesterday. Prospects appear bleak that the company can surmount Nasdaq's hurdle of trading for 10 consecutive days above $1 to avoid delisting - it only has until April 4 to do so. Clearly, ImproveNet needs to acquire more customers, and it continues to mount significant losses and burn through cash reserves in an environment that makes a secondary offering all but impossible.

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