Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:    
Net loss $ (4,947,434)us-gaap_NetIncomeLoss $ (408,158)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 164,522us-gaap_DepreciationAndAmortization 104,710us-gaap_DepreciationAndAmortization
Non-cash interest expense associated with convertible debt and warrants 2,187,563LIVE_NoncashInterestExpenseAssociatedWithConvertibleDebtAndWarrants 0LIVE_NoncashInterestExpenseAssociatedWithConvertibleDebtAndWarrants
Non-cash interest expense associated with loan fees 2,004,202us-gaap_OtherNoncashExpense 0us-gaap_OtherNoncashExpense
Non-cash change in fair value of derivative liability (83,580)us-gaap_UnrealizedGainLossOnDerivatives 0us-gaap_UnrealizedGainLossOnDerivatives
Stock based compensation expense 29,390us-gaap_ShareBasedCompensation 65,875us-gaap_ShareBasedCompensation
Non-cash issuance of common stock for services 82,127us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 22,506us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Provision for uncollectible accounts 1,700us-gaap_ProvisionForDoubtfulAccounts (24,072)us-gaap_ProvisionForDoubtfulAccounts
Changes in assets and liabilities:    
Accounts receivable (555,591)us-gaap_IncreaseDecreaseInAccountsReceivable 58,426us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other current assets 75,546us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (14,041)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Inventory 673,857us-gaap_IncreaseDecreaseInInventories 0us-gaap_IncreaseDecreaseInInventories
Deposits and other assets 265us-gaap_IncreaseDecreaseInDepositOtherAssets 0us-gaap_IncreaseDecreaseInDepositOtherAssets
Accounts payable (1,118,797)us-gaap_IncreaseDecreaseInAccountsPayable (8,947)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities 183,453us-gaap_IncreaseDecreaseInAccruedLiabilities (39,462)us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (1,302,777)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (243,163)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
INVESTING ACTIVITIES:    
Expenditures for intangible assets (20,714)us-gaap_PaymentsToAcquireIntangibleAssets (563)us-gaap_PaymentsToAcquireIntangibleAssets
Purchases of property and equipment (28,798)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (6,167)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (49,512)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (6,730)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
FINANCING ACTIVITIES:    
Payments on notes payable (346,182)us-gaap_RepaymentsOfNotesPayable 0us-gaap_RepaymentsOfNotesPayable
Proceeds from issuance of convertible debt 100,000us-gaap_ProceedsFromConvertibleDebt 0us-gaap_ProceedsFromConvertibleDebt
Net cash used in financing activities (246,182)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 0us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
DECREASE IN CASH AND CASH EQUIVALENTS (1,598,471)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (249,893)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, beginning of period 8,114,682us-gaap_CashAndCashEquivalentsAtCarryingValue 761,458us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS, end of period 6,516,211us-gaap_CashAndCashEquivalentsAtCarryingValue 511,565us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow disclosures:    
Interest paid 16,612us-gaap_InterestPaidNet 686us-gaap_InterestPaidNet
Income taxes paid 0us-gaap_IncomeTaxesPaidNet 0us-gaap_IncomeTaxesPaidNet
Noncash financing and investing activities:    
Recognition of contingent beneficial conversion feature 100,000LIVE_RecognitionOfContingentBeneficialConversionFeature 0LIVE_RecognitionOfContingentBeneficialConversionFeature
Conversion of notes payable and accrued interest into common stock 635,756us-gaap_ConversionOfStockAmountConverted1 0us-gaap_ConversionOfStockAmountConverted1
Accrued and unpaid dividends $ 483us-gaap_Dividends $ 480us-gaap_Dividends