Live Current Media reports financial results.
Live 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.