Further hold-ups for Market & Research Corp

US-- Breaking into the marketing and research game isn't proving easy for Market & Research Corporation (MRC) – the company still has three acquisitions lined up but no firm date on when those deals will be completed.

MRC president Gary Stein told shareholders last week that “economic conditions” now made it difficult to say when it will follow through on its agreements to buy Colorado fieldwork agency Quantum Research Services, New Jersey-based INmarketing and Las Vegas's Precision Opinion.

The Quantum and INmarketing deals were first announced in November 2007, and the Precision Opinion agreement was unveiled almost a year ago today.

Initially, all three acquisitions were set to close before July 2008 – but to do so MRC was dependent on gaining approval to up-list its shares from the Pinksheets to the OTC Bulletin Board. Owing to a “clerical issue” the firm had to re-apply for a listing, delaying the process – however approval has now been received, Stein said.

But the economy has placed another stumbling block in the company's path. As Stein explained: “When we began our process in 2007, the economy was robust, the Dow Jones Averages were over 13,000 and both credit facilities and venture capital were readily available.

“The economic circumstances we started out with are now completely different and more stringent, and as a result more creative financing seems essential and evident in order to close each deal. Given the worldwide economic conditions we can't predict exactly when the closings will occur.”

Executive vice president Martin Licht acknowledged the “arduous process” MRC had been through. He said: “While we cannot specify the exact closing date for each acquisition, we want to reassure our shareholders that we are in fact moving forward.”

The company was formally known as Cable & Co.

Author: Brian Tarran