Live Ventures Files 2024 10-K

TL;DR

LV is out with its 2024 10-K. Check financials.

AI Summary

Live Ventures Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its diverse operations in furniture retail and manufacturing. The company's financial performance and strategic initiatives are detailed within this comprehensive filing, which provides insights into its business segments and overall market position. This report is crucial for understanding Live Ventures' financial health and future outlook.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Live Ventures' financial performance and operational status for the fiscal year 2024, enabling informed decision-making.

Risk Assessment

Risk Level: medium — The company operates in the retail sector, which can be subject to economic downturns and changing consumer preferences, and has a history of name changes indicating potential restructuring.

Key Players & Entities

• LIVE VENTURES Inc (company) — Filer of the 10-K
• 2024-09-30 (date) — Fiscal year end
• 2024-12-19 (date) — Filing date
• 325 EAST WARM SPRINGS ROAD (location) — Business and mailing address
• LAS VEGAS (location) — City of business and mailing address
• NV (location) — State of incorporation and business address
• LIVEDEAL INC (company) — Former company name
• YP CORP (company) — Former company name
• YP NET INC (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share LIVE The Nasdaq Sto
• $57 billion — onths. The video game industry reported $57 billion in consumer spending in [year]. Compet
• $34.1 billion — loor covering industry had an estimated $34.1 billion in sales. Floor covering sales are inf
• $11.4 billion — industry had shipments of approximately $11.4 billion in 2023. The carpet and rugs industry h
• $22.7 billion — aminate, had shipments of approximately $22.7 billion in 2023. As with carpet and rugs, the m

Filing Documents

• live-20240930.htm (10-K) — 2726KB
• exhibit19_liveventuresinco.htm (EX-19.1) — 46KB
• live-20240930xexx211.htm (EX-21.1) — 15KB
• exhibit23_1xconsent2024.htm (EX-23.1) — 2KB
• live-20240930xexx311.htm (EX-31.1) — 10KB
• live-20240930xexx312.htm (EX-31.2) — 10KB
• live-20240930xexx321.htm (EX-32.1) — 6KB
• live-20240930xexx322.htm (EX-32.2) — 6KB
• 0001628280-24-052099.txt ( ) — 14858KB
• live-20240930.xsd (EX-101.SCH) — 100KB
• live-20240930_cal.xml (EX-101.CAL) — 144KB
• live-20240930_def.xml (EX-101.DEF) — 715KB
• live-20240930_lab.xml (EX-101.LAB) — 1076KB
• live-20240930_pre.xml (EX-101.PRE) — 964KB
• live-20240930_htm.xml (XML) — 2055KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 26 Item 1C. C ybersecurity 26 Item 2.

Properties

Properties 27 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 Part II 30 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 31 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Reports of Independent Registered Public Accounting Firms F- 1 Consolidated Financial Statements: Consolidated Balance Sheets at September 30, 202 4 and 202 3 F- 3 Consolidated Statements of (Loss) Income for the Years Ended September 30, 202 4 and 202 3 F- 4 Consolidated Statements of Stockholders' Equity for the Years Ended September 30, 202 4 and 20 23 F- 5 Consolidated Statements of Cash Flows for the Years Ended September 30, 202 4 and 202 3 F- 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements F- 8 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 42 Item 9A.

Controls and Procedures

Controls and Procedures 42 Item 9B. Other Information 43 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 44 Part III Item 10. Directors, Executive Officers and Corporate Governance 44 Item 11.

Executive Compensation

Executive Compensation 49 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 53 Item 13. Certain Relationships and Related Transactions, and Director Independence 55 Item 14. Principal Account ant Fees and Services 58 Part IV 60 Item 15. Exhibits and Financial Statement Schedules 60 Item 16. Form 10-K Summary 70

Signatures

Signatures 71 i Table of Contents As used in this Annual Report on Form 10-K (this "Form 10-K"), unless otherwise stated or the context otherwise requires, references to "we," "us," "our," the "Company," "Live Ventures" and similar references refer collectively to Live Ventures Incorporated and its subsidiaries. ii Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Form 10-K contains statements that could constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as believes,'' expects,'' may,'' will,'' should,'' seeks,'' approximately,'' intends,'' plans,'' estimates,'' or anticipates'' or similar expressions that concern our strategy, plans, or intentions. Any statements we make relating to our future operations, performance and results, anticipated liquidity, or ongoing business strategies or prospects and possible Live Ventures' actions, are forward-looking statements. This report, including any information incorporated by reference in this report, contains forward-looking statements. The Company also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, the Company may make forward-looking statements orally or in writing to investors, analysts, members of the media, or others. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties that may change at any time and many of which are beyond the Company's control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Important factors that could cause actual results to differ materially from our expectations, including, without limitatio

Business

ITEM 1. Business Our Company The "Company," "Live Ventures", "Live", "we," "our," and "us" are used interchangeably to refer to Live Ventures Incorporated and its subsidiaries, as appropriate in the context. Live Ventures Incorporated (Nasdaq: LIVE) is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Ventures' acquisition strategy is industry agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation. The Company looks for opportunities to partner with management to build increased stockholder value through a disciplined buy-build-hold, long-term focused strategy. Live Ventures was founded in 1968 and later refocused under our Chief Executive Officer and strategic investor, Jon Isaac. The Company's current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, and entertainment industries. Live's operating businesses are managed on a decentralized basis. There are no centralized or integrated business functions (such as sales, marketing, purchasing, or human resources) and there is minimal involvement by the Company's corporate headquarters staff in the day-to-day business activities of our operating businesses. Live Ventures' corporate management is ultimately responsible for significant capital allocation decisions, investment activities, and the selection of a Chief Executive Officer to head each of Live's operating businesses. Live's corporate management team is also responsible for establishing and monitoring Live Ventures' corporate governance practices, monitoring governance efforts, including those at the operating businesses, and participating in the resolution of governance-related issues, as needed. Available Information Live's website, located at www.liveventures.com, provides additional information about us. On our website, anyone can obtain, fre

View Full Filing

View this 10-K filing on SEC EDGAR