LIVE VENTURES Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>LIVE VENTURES Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing financial information and business operations.</b>

AI Summary

LIVE VENTURES Inc (LIVE) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. LIVE VENTURES Inc. filed a 10-Q report for the period ending December 31, 2023. The company's fiscal year ends on September 30. LIVE VENTURES Inc. is incorporated in Nevada. The company's business and mailing address is 325 East Warm Springs Road, Suite 102, Las Vegas, NV 89119. The filing includes data related to various acquisitions such as Kinetic, PMW, CRO, and Johnson.

Why It Matters

For investors and stakeholders tracking LIVE VENTURES Inc, this filing contains several important signals. This 10-Q filing provides investors with an updated view of LIVE VENTURES Inc.'s financial health and performance for the most recent quarter, crucial for investment decisions. The detailed financial data within the report, including segment information and balance sheet items, allows for a deeper understanding of the company's operational status and potential risks.

Risk Assessment

Risk Level: medium — LIVE VENTURES Inc shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but does not contain forward-looking statements or significant new disclosures that would drastically alter risk perception without further analysis of the detailed financial statements.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to assess the impact of recent acquisitions and overall business trends.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-08 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Company's fiscal year end)
• 5900 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• LIVE VENTURES Inc. (company) — Filer of the 10-Q report
• 2023-12-31 (date) — Conformed period of report
• 2024-02-08 (date) — Filed as of date
• 0001045742 (company) — Central Index Key for LIVE VENTURES Inc.
• NV (location) — State of incorporation
• 325 East Warm Springs Road, Suite 102, Las Vegas, NV 89119 (address) — Business and mailing address
• LIVEDEAL INC (company) — Former company name
• Kinetic Acquisition (company) — Mentioned acquisition

Forward-Looking Statements

• LIVE VENTURES Inc. will continue to report net losses in the near term. (LIVE VENTURES Inc.) — high confidence, target: 2024-09-30
• The company may need to raise additional capital to fund operations. (LIVE VENTURES Inc.) — medium confidence, target: 2025-02-08

FAQ

Industry Context

LIVE VENTURES Inc. operates in the Miscellaneous Retail sector. This 10-Q filing provides insights into its performance within this industry.

Regulatory Implications

This filing is a standard Form 10-Q, a quarterly report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for the quarter ended December 31, 2023.
2. Investigate the details of the mentioned acquisitions (Kinetic, PMW, CRO, Johnson) and their impact on the company's financial position.
3. Compare the current quarter's financial data with previous periods to identify trends and performance changes.

Key Dates

• 2023-12-31: Period End — End of the reporting quarter
• 2024-02-08: Filing Date — Date the 10-Q was filed with the SEC

Year-Over-Year Comparison

This is the initial 10-Q filing analyzed for the period ending December 31, 2023. Previous filings would need to be consulted for direct comparison.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share LIVE The Nasdaq Sto
• $000 — as $ 1.8 million, as detailed below (in $000's): Cash $ 1,034 Additional consider

Filing Documents

• live-20231231.htm (10-Q) — 1203KB
• ex10125_ftbprecisionmetalf.htm (EX-10.125) — 184KB
• ex10126_kelloggxemployment.htm (EX-10.126) — 18KB
• ex10127_amendmenttoemploym.htm (EX-10.127) — 10KB
• ex10128_thirdamendmenttose.htm (EX-10.128) — 34KB
• live-20231231xexx311.htm (EX-31.1) — 10KB
• live-20231231xexx312.htm (EX-31.2) — 10KB
• live-20231231xexx321.htm (EX-32.1) — 6KB
• live-20231231xexx322.htm (EX-32.2) — 6KB
• 0001628280-24-003883.txt (&nbsp;) — 8709KB
• live-20231231.xsd (EX-101.SCH) — 66KB
• live-20231231_cal.xml (EX-101.CAL) — 104KB
• live-20231231_def.xml (EX-101.DEF) — 422KB
• live-20231231_lab.xml (EX-101.LAB) — 724KB
• live-20231231_pre.xml (EX-101.PRE) — 567KB
• live-20231231_htm.xml (XML) — 1157KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of December 31 , 2023 (Unaudited) and September 30, 202 3 3 Condensed Consolidated Statements of (Loss) Income (Unaudited) for the Three Months Ended December 31 , 2023 and 2022 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended December 31 , 2023 and 2022 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three Months Ended December 31 , 2023 and 2022 6 Notes to the Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 PART II OTHER INFORMATION 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

SIGNATURES

SIGNATURES 40 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LIVE VENTURES INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands, except per-share amounts) December 31, 2023 September 30, 2023 (Unaudited) Assets Cash $ 5,569 $ 4,309 Trade receivables, net of allowance for doubtful accounts of $ 1.5 million at December 31, 2023 and $ 1.6 million at September 30, 2023 42,350 41,194 Inventories, net 132,455 131,314 Income taxes receivable — 1,116 Prepaid expenses and other current assets 4,751 4,919 Total current assets 185,125 182,852 Property and equipment, net 79,683 80,703 Right of use asset - operating leases 65,799 54,544 Deposits and other assets 1,240 1,282 Intangible assets, net 28,163 26,568 Goodwill 76,639 75,866 Total assets $ 436,649 $ 421,815 Liabilities and Stockholders' Equity Liabilities: Accounts payable $ 25,406 $ 27,190 Accrued liabilities 39,123 31,826 Income taxes payable 431 — Current portion of lease obligations - operating leases 12,799 11,369 Current portion of lease obligations - finance leases 361 359 Current portion of long-term debt 21,223 23,077 Current portion of notes payable related parties 4,000 4,000 Total current liabilities 103,343 97,821 Long-term debt, net of current portion 78,357 78,710 Lease obligation long term - operating leases 58,291 48,156 Lease obligation long term - finance leases 32,981 32,942 Notes payable related parties, net of current portion 6,919 6,914 Seller notes - related parties 39,672 38,998 Deferred taxes 11,714 14,035 Other non-current obligations 5,975 4,104 Total liabilities 337,252 321,680 Commitments and contingencies Stockholders' equity: Series E convertible preferred stock, $ 0.001 par value, 200,000 shares authorized, 47,840 shares issued and outstanding at December 31, 2023 and September 30, 2023, respectively, with a liquidation preference of $ 0.30 per share outstanding — — Common stock, $ 0.001 par value, 10,000,000 shares authorized, 3,159,984 and 3,164,330 sha

View Full Filing

View this 10-Q filing on SEC EDGAR