LiveOne Files 8-K/A: Delisting Notice, Director Changes
Ticker: LVO · Form: 8-K/A · Filed: Nov 21, 2024 · CIK: 1491419
Sentiment: neutral
Topics: delisting, corporate-governance, amendment
Related Tickers: LVO
TL;DR
LiveOne 8-K/A: Delisting warning & board shakeup. Big changes happening.
AI Summary
LiveOne, Inc. filed an amendment (Amendment No. 1) to its Form 8-K on November 21, 2024, regarding events that occurred on October 4, 2024. The filing addresses a notice of delisting or failure to satisfy continued listing rules, as well as the departure of directors, election of directors, appointment of officers, and compensatory arrangements for certain officers.
Why It Matters
This amendment indicates potential issues with LiveOne's stock exchange listing and significant changes in its board and executive team, which could impact investor confidence and company operations.
Risk Assessment
Risk Level: high — The filing mentions a notice of delisting or failure to satisfy continued listing rules, which is a significant risk for the company's stock.
Key Players & Entities
- LiveOne, Inc. (company) — Registrant
- October 4, 2024 (date) — Earliest event date
- November 21, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
FAQ
What specific continued listing rule has LiveOne, Inc. failed to satisfy, as indicated in the 8-K/A filing?
The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
What is the date of the earliest event reported in this amended 8-K filing?
The earliest event reported is dated October 4, 2024.
What other significant corporate events are covered by this amendment besides the delisting notice?
The amendment also covers the departure of directors, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the filing date of this Amendment No. 1 to Form 8-K for LiveOne, Inc.?
The filing date for Amendment No. 1 is November 21, 2024.
What was LiveOne, Inc.'s former company name prior to LiveXLive Media, Inc.?
Prior to LiveXLive Media, Inc., LiveOne, Inc. was formerly known as LOTON, CORP.
Filing Stats: 657 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-11-21 17:15:08
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LVO The NASDAQ
Filing Documents
- ea0222171-8ka1_liveone.htm (8-K/A) — 27KB
- 0001213900-24-101085.txt ( ) — 198KB
- lvo-20241004.xsd (EX-101.SCH) — 3KB
- lvo-20241004_lab.xml (EX-101.LAB) — 33KB
- lvo-20241004_pre.xml (EX-101.PRE) — 22KB
- ea0222171-8ka1_liveone_htm.xml (XML) — 4KB
01 Notice of
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. The information described under Item 5.02 below is incorporated by reference in this Item 3.01. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously reported in LiveOne, Inc.'s (the "Company") Current Report on Form 8-K, filed with the SEC on October 10, 2024, on October 4, 2024, Craig Foster notified LiveOne, Inc. (the "Company") that he was resigning from service on the Company's board of directors (the "Board") to pursue other current professional obligations, effective as of the same date. At the time of his resignation, Mr. Foster served on the Audit Committee and the Nominating and Corporate Governance Committee of the Board. Mr. Foster's resignation was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On November 21, 2024, the Company received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, LLC ("Nasdaq") confirming that the Company has a cure period until the earlier of (i) October 4, 2025 and (ii) the Company's next annual meeting of stockholders, to fill the vacancy created by such resignation in order to comply with the audit committee requirements set forth in Nasdaq Listing Rule 5605. To fill the vacancy created by Mr. Foster's resignation, the Company anticipates that one or more existing independent members of the Board will be appointed to its Audit Committee and/or the Nominating and Corporate Governance Committee and will also conduct a search to find a well-qualified candidate to serve on the Board and/or such committees that has the applicable experience and the necessary qualifications, skills and perspective. 1
SIGNATURES
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. LIVEONE, INC. Dated: November 21, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2