Live Current Media Loses $1.4M, Writes Down Auctomatic Acquisition

Monday, September 28th, 2009

Live Current Media reports financial results.

Live Current MediaLive Current Media (livce.ob) reported that it lost $1,404,000 in the quarter ended June 30 on revenue of $1,705,000. That compares to a loss of $916,000 in the first quarter of the calendar year, but the loss is much less than in the last two quarters of 2008 thanks to cost cutting.

The company has sold seven domain names this year through August for $3.4 million, not including the Cricket.com domain name. These sales do not count as revenue and are not part of the income statement, so the cash flow situation is better than the income statement.

On June 30, 2009, Live Current determined that its purchase of auction software company Auctomatic was impaired and wrote off $590,973 of the purchase price. Live Current acquired the company in 2008 for $5 million in cash and stock.

The details of Live Current’s results are here.

Further Reading:

  1. Can Live Current Media Hold On?
  2. Live Current Media Raises Much Needed Cash
  3. Live Current Media Sells Body.com for $400,000

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  1. Latest Domainer News
    September 28th, 2009 | 12:13 pm

    Live Current Media Loses $1.4M, Writes Down Auctomatic Acquisition – http://tinyurl.com/yaspym9

  2. Domain Name Wire » News » Lawsuit Filed Against Live Current Media CEO and Board Members - The Domain Industry's News Source
    May 25th, 2010 | 6:13 pm

    [...] -Acquiring Auctomatic for $5 million -Signing a deal requiring the company to pay $50 million over ten years to Indian Premier League [...]

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