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  • Live Current Media Raises Much Needed Cash

    1. BY - Nov 19, 2008
    2. Uncategorized
    3. 5 Comments

    Live Current raises $1.06 million in private placement.

    Live Current Media (OTCbb: livc.ob) is facing a serious cash crunch, but it eased somewhat today. The company announced that it has raised $1.06 million through a private placement. Investors include Live Current CEO and Chairman, Geoffrey Hampson, the Company’s President and COO, Jonathan Ehrlich and Chief Corporate Development Officer, Mark Melville, along with outside investors. Hampson has already invested in the company, and it’s reassuring that he is pumping more money into the company.

    The investors paid 65 cents per unit, a premium of 27% to yesterday’s closing price of 51 cents, but shares had traded at 65 cents earlier this week. In addition, each unit includes warrants to purchase shares in the future: a two-year warrant to purchase one half of a common share at a 20% premium to the unit price and a three-year warrant to purchase one half of a common share at a 40% premium to the unit price.

    Live Current expects to close more private placement over the next 15 days to raise an additional $1 million. The company is also working on selling some of its premium domain names including Brazil.com and other geo domain names in an effort to raise $6 million to $10 million.

    The company makes a gross profit from its Perfume.com business, but overhead costs and major investments in its cricket ventures are hurting cash flow.

5 Comments
  • They are hopeless…and the Cricket league or whoever else decided to partner up with them are morons too. This company is only good at one thing and that is burning cash — Long history of such.

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  • This company is GREAT! Management is putting the $$$ where their mouth is! Especially, in this economy. Morons like Mike@Can’tdevelopagoodideal.com are a “dime a dozen” and hopelessly stupid!

  • I think this is a great company. Their ability to secure the website, mobile, and live streaming and photo rights in most countries for 10 years for IPL, BCCI, and Champion League T20 was a coup; and they own CRICKET.COM. Imho, the mobile rights themselves are worth big $$. In addition they own a leading perfume ecommerce site at Perfume.com and they own CALL.COM, IMPORTERS.COM, BODY.COM etc. They are in the process of raising cash by selling BRAZIL.com, MALYASIA.COM, INDONESIA.COm, and VIETNAM.COM. It’s a pretty incredible company and, yes, they need cash to grow all these businesses. In this difficult credit market, some road bumps are understandable.

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