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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
April 3, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>LiveDeal, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 32%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 2%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">001-33937</TD>
    <TD STYLE="width: 2%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">85-0206668</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 66%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">2490 East Sunset Road, Suite 100, Las Vegas, Nevada&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: top; border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">89120</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">(Zip code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

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<TR>
    <TD STYLE="width: 20%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 60%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">(702) 654-9646</TD>
    <TD STYLE="width: 20%; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR>
    <TD STYLE="width: 20%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 60%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">Not Applicable</TD>
    <TD STYLE="width: 20%; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">(Former Name or Former Address, if Changed Since Last Report)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see</I> General Instruction A.2. below):</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-family: Wingdings">o</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-family: Wingdings">o</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-family: Wingdings">o</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-family: Wingdings">o</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 3, 2012 (the &ldquo;Closing Date&rdquo;),
LiveDeal, Inc. (&ldquo;LiveDeal&rdquo;) and Isaac Capital Group LLC (&ldquo;ICG&rdquo;) entered into a Note and Warrant Purchase
Agreement (the &ldquo;Purchase Agreement&rdquo;), pursuant to which ICG agreed to purchase for cash up to $2,000,000 in aggregate
principal amount of Subordinated Convertible Notes (&ldquo;Notes&rdquo;) to be issued by LiveDeal. An initial Note in the principal
amount of $250,000 was issued to ICG on the Closing Date. Additional Notes in an aggregate principal amount of up to $1,750,000
may be issued to ICG from time to time by LiveDeal for a period of one (1) year following the Closing Date upon notice to ICG,
provided that each Note must be in a principal amount of at least $100,000. LiveDeal will use the proceeds of the Notes for working
capital and other general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Agreement and the Notes, which
are unsecured, provide that all amounts payable by LiveDeal to ICG under the Notes will be due and payable on April 3, 2013 (the
&ldquo;Maturity Date&rdquo;), provided that LiveDeal has the option in its discretion to extend the Maturity Date by up to one
(1) year if no Event of Default (as defined in the Purchase Agreement) has occurred and is continuing, and LiveDeal is in material
compliance with its agreements and covenants under the Purchase Agreement and the Notes, as of the Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes also provide for the following
terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>LiveDeal will pay an annual interest rate equal to 8% on the unpaid principal balance of each Note from its date of issuance.
All interest will be payable on the Maturity Date or upon the conversion of the applicable Note, as described below. LiveDeal also
has the option to prepay each Note, in whole or in part, at any time without premium or penalty.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Either LiveDeal or ICG may elect at any time to cause the immediate conversion of all or any portion of any Note (including
all principal and accrued but unpaid interest relating thereto) into that number of shares of LiveDeal&rsquo;s common stock, par
value $0.001 per share (&ldquo;Common Stock&rdquo;), as is obtained by dividing the dollar amount of the principal and accrued
but unpaid interest payable under the applicable Note by the applicable Conversion Price (the &ldquo;Conversion Shares&rdquo;).
Subject to adjustment, the &ldquo;Conversion Price&rdquo; with respect to each Note will be an amount equal to 60% of the lesser
of (i) the closing bid price of the Common Stock on the Closing Date or (ii) the 10-day weighted average closing bid price of the
Common Stock for the 10 business days immediately preceding the date on which LiveDeal or ICG (as applicable) provides notice of
conversion with respect to the applicable Note.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Notes provide that, upon the occurrence of any Event of Default, all amounts payable to ICG will become immediately due
and payable by LiveDeal, without any demand of or notice to LiveDeal.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Agreement contains customary
representations, warranties and covenants of the parties, including affirmative and negative covenants of LiveDeal. Among other
things, LiveDeal (i) is required to provide certain financial and other information to ICG from time to time, (ii) must maintain
its corporate existence, business, assets, properties, insurance and records in accordance with the requirements set forth in the
Purchase Agreement, (iii) with certain exceptions, must not incur or suffer to exist any liens or other encumbrances with respect
to its property or assets, (iv) must not make certain loans or investments except in compliance with the terms of the Purchase
Agreement, and (v) must not enter into certain types of transactions, including dispositions of LiveDeal&rsquo;s assets or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Agreement also defines certain
Events of Default, including (among other things) (i) LiveDeal&rsquo;s failure to make any payment required under the Notes when
due (subject to a three-day cure period), (ii) LiveDeal&rsquo;s failure to comply with its covenants and agreements under the Purchase
Agreement, the Notes and other transaction documents and (iii) the occurrence of a change of control with respect to LiveDeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Purchase Agreement, in connection
with the conversion of any Note into Conversion Shares, LiveDeal will issue to ICG a warrant to purchase that number of shares
of Common Stock equal to the applicable number of Conversion Shares (subject to adjustment). Each such warrant will be exercisable
for a period of five (5) years following the date of its issuance at an exercise price equal to a 20% premium to the Conversion
Price of the applicable Note (subject to adjustment). The warrants provide that they may be exercised in whole or in part and also
include a cashless exercise feature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">LiveDeal was not required to pay any due
diligence, origination or other fees to ICG in connection with the transactions described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2.03</B></TD><TD><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The disclosure set forth above in Item 1.01
of this Current Report on Form 8-K is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 45%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 5%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 35%; vertical-align: top">LIVEDEAL, INC.</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Date: April 9, 2012</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; vertical-align: top"><FONT STYLE="color: windowtext">/s/ </FONT>Lawrence W.
    Tomsic</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Lawrence W. Tomsic</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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{"company-data": {"conformed-name": "LIVEDEAL INC", "cik": "0001045742", "assigned-sic": "7371", "irs-number": "850206668", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33937", "film-number": "12749985"}, "business-address": {"street1": "2490 EAST SUNSET ROAD", "street2": "SUITE 100", "city": "LAS VEGAS", "state": "NV", "zip": "89120", "phone": "(702) 654-9646"}, "mail-address": {"street1": "2490 EAST SUNSET ROAD", "street2": "SUITE 100", "city": "LAS VEGAS", "state": "NV", "zip": "89120"}, "former-company": [{"former-conformed-name": "YP CORP", "date-changed": "20040504"}, {"former-conformed-name": "YP NET INC", "date-changed": "19991112"}, {"former-conformed-name": "RIGL CORP", "date-changed": "19980707"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 3, 2012
LiveDeal, Inc.
(Exact Name of Registrant as Specified in
Charter)
Nevada
001-33937
85-0206668
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2490 East Sunset Road, Suite 100, Las Vegas, Nevada
89120
(Address of Principal Executive Offices)
(Zip code)
(702) 654-9646
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(
see
General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On April 3, 2012 (the "Closing Date"),
LiveDeal, Inc. ("LiveDeal") and Isaac Capital Group LLC ("ICG") entered into a Note and Warrant Purchase
Agreement (the "Purchase Agreement"), pursuant to which ICG agreed to purchase for cash up to $2,000,000 in aggregate
principal amount of Subordinated Convertible Notes ("Notes") to be issued by LiveDeal. An initial Note in the principal
amount of $250,000 was issued to ICG on the Closing Date. Additional Notes in an aggregate principal amount of up to $1,750,000
may be issued to ICG from time to time by LiveDeal for a period of one (1) year following the Closing Date upon notice to ICG,
provided that each Note must be in a principal amount of at least $100,000. LiveDeal will use the proceeds of the Notes for working
capital and other general corporate purposes.
The Purchase Agreement and the Notes, which
are unsecured, provide that all amounts payable by LiveDeal to ICG under the Notes will be due and payable on April 3, 2013 (the
"Maturity Date"), provided that LiveDeal has the option in its discretion to extend the Maturity Date by up to one
(1) year if no Event of Default (as defined in the Purchase Agreement) has occurred and is continuing, and LiveDeal is in material
compliance with its agreements and covenants under the Purchase Agreement and the Notes, as of the Maturity Date.
The Notes also provide for the following
terms and conditions:
·
LiveDeal will pay an annual interest rate equal to 8% on the unpaid principal balance of each Note from its date of issuance.
All interest will be payable on the Maturity Date or upon the conversion of the applicable Note, as described below. LiveDeal also
has the option to prepay each Note, in whole or in part, at any time without premium or penalty.
·
Either LiveDeal or ICG may elect at any time to cause the immediate conversion of all or any portion of any Note (including
all principal and accrued but unpaid interest relating thereto) into that number of shares of LiveDeal's common stock, par
value $0.001 per share ("Common Stock"), as is obtained by dividing the dollar amount of the principal and accrued
but unpaid interest payable under the applicable Note by the applicable Conversion Price (the "Conversion Shares").
Subject to adjustment, the "Conversion Price" with respect to each Note will be an amount equal to 60% of the lesser
of (i) the closing bid price of the Common Stock on the Closing Date or (ii) the 10-day weighted average closing bid price of the
Common Stock for the 10 business days immediately preceding the date on which LiveDeal or ICG (as applicable) provides notice of
conversion with respect to the applicable Note.
·
The Notes provide that, upon the occurrence of any Event of Default, all amounts payable to ICG will become immediately due
and payable by LiveDeal, without any demand of or notice to LiveDeal.
The Purchase Agreement contains customary
representations, warranties and covenants of the parties, including affirmative and negative covenants of LiveDeal. Among other
things, LiveDeal (i) is required to provide certain financial and other information to ICG from time to time, (ii) must maintain
its corporate existence, business, assets, properties, insurance and records in accordance with the requirements set forth in the
Purchase Agreement, (iii) with certain exceptions, must not incur or suffer to exist any liens or other encumbrances with respect
to its property or assets, (iv) must not make certain loans or investments except in compliance with the terms of the Purchase
Agreement, and (v) must not enter into certain types of transactions, including dispositions of LiveDeal's assets or business.
The Purchase Agreement also defines certain
Events of Default, including (among other things) (i) LiveDeal's failure to make any payment required under the Notes when
due (subject to a three-day cure period), (ii) LiveDeal's failure to comply with its covenants and agreements under the Purchase
Agreement, the Notes and other transaction documents and (iii) the occurrence of a change of control with respect to LiveDeal.
Pursuant to the Purchase Agreement, in connection
with the conversion of any Note into Conversion Shares, LiveDeal will issue to ICG a warrant to purchase that number of shares
of Common Stock equal to the applicable number of Conversion Shares (subject to adjustment). Each such warrant will be exercisable
for a period of five (5) years following the date of its issuance at an exercise price equal to a 20% premium to the Conversion
Price of the applicable Note (subject to adjustment). The warrants provide that they may be exercised in whole or in part and also
include a cashless exercise feature.
LiveDeal was not required to pay any due
diligence, origination or other fees to ICG in connection with the transactions described above.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth above in Item 1.01
of this Current Report on Form 8-K is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LIVEDEAL, INC.
Date: April 9, 2012
/s/
Lawrence W.
    Tomsic
Lawrence W. Tomsic
Chief Financial Officer