Investor Relations
Financials
v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2017
Sep. 30, 2016
Assets    
Cash and cash equivalents $ 752,449 $ 770,895
Trade and other receivables, net 9,500,555 8,334,801
Inventories, net 33,653,031 11,053,085
Prepaid expenses and other current assets 3,400,335 5,059,981
Total current assets 47,306,370 25,218,762
Property and equipment, net 21,498,366 14,014,501
Deposits and other assets 77,520 19,765
Deferred taxes 10,655,287 12,524,582
Intangible assets, net 2,865,025 1,689,790
Goodwill 39,066,061 0
Total assets 121,468,629 53,467,400
Liabilities:    
Accounts payable 8,095,639 5,402,654
Accrued liabilities 5,169,659 6,396,772
Income tax payable 433,519 0
Current portion of long term debt 5,832,567 1,789,290
Total current liabilities 19,531,384 13,588,716
Notes payable, net of current portion 69,019,133 13,682,872
Note payable, related party 2,000,000 2,000,000
Total Liabilities 90,550,517 29,271,588
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 10,000,000 shares authorized, 2,088,186 shares issued and 2,058,064 shares outstanding at March 31, 2017; 2,819,327 shares issued and 2,789,205 shares outstanding at September 30, 2016 2,088 2,819
Paid in capital 56,773,754 53,319,217
Treasury stock (30,122 shares) (300,027) (300,027)
Accumulated deficit (25,568,783) (28,837,063)
Total equity 30,918,112 24,195,812
Total liabilities and equity 121,468,629 53,467,400
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock 214 0
Series E Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock $ 10,866 $ 10,866

Source

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]        
Revenues $ 38,536,425 $ 19,839,923 $ 70,725,089 $ 39,944,357
Cost of revenues 22,061,055 14,233,724 41,604,487 27,928,283
Gross profit 16,475,370 5,606,199 29,120,602 12,016,074
Operating expenses:        
General and administrative expenses 9,149,865 2,158,398 16,208,539 4,524,271
Sales and marketing expenses 2,054,648 2,249,323 3,962,138 5,246,073
Total operating expenses 11,204,513 4,407,721 20,170,677 9,770,344
Operating income 5,270,857 1,198,478 8,949,925 2,245,730
Other income (expense):        
Interest expense, net (2,035,053) (334,986) (3,484,529) (680,469)
Other income 143,272 355,016 185,162 367,569
Total other (expense) income, net (1,891,781) 20,030 (3,299,367) (312,900)
Income before provision for income taxes 3,379,076 1,218,508 5,650,558 1,932,830
Current tax expense:        
Federal 238,274 0 268,705 353,691
State 198,977 0 243,320 60,289
Total Current tax expense 437,251 0 512,025 413,980
Deferred tax expense        
Federal 891,181 0 1,598,673 0
State 209,978 0 270,621 0
Total Deferred Tax Expense 1,101,159 0 1,869,294 0
Total provision for income taxes 1,538,410 0 2,381,319 413,980
Net income 1,840,666 1,218,508 3,269,239 1,518,850
Net income attributed to noncontrolling interest 0 0 0 124,194
Net income attributed to Live Ventures Incorporated $ 1,840,666 $ 1,218,508 $ 3,269,239 $ 1,394,656
Earnings per share - basic $ .89 $ .43 $ 1.61 $ .49
Earnings per share - diluted $ 0.47 $ .37 $ .84 $ .42
Weighted average common shares outstanding - basic 2,058,064 2,815,951 2,029,023 2,816,734
Weighted average common shares outstanding - diluted 3,917,228 3,265,638 3,874,666 3,289,712

Source

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net income $ 3,269,239 $ 1,518,850
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,023,245 1,061,018
Amortization of debt issuance cost 98,647 0
Stock based compensation expense 69,520 174,885
Non-cash interest expense associated with convertible debt and warrants 0 9,352
Non-cash issuance of common stock for services 0 15,000
Change in reserve for uncollectible accounts 38,432 (2,326)
Change in reserve for obsolete inventory 155,266 (68,250)
Change in contingent liability 0 (316,000)
Change in deferred income taxes 1,869,295 0
Changes in assets and liabilities:    
Accounts receivable (1,090,686) (1,142,274)
Prepaid expenses and other current assets 2,520,099 416,905
Inventories (2,595,120) 948,847
Deposits and other assets (57,755) 5,593
Accounts payable (1,150,525) 1,493,616
Accrued liabilities (373,633) (324,522)
Income tax payable 433,519 (376,000)
Net cash provided by operating activities 5,209,543 3,414,694
INVESTING ACTIVITIES:    
Acquisition of businesses, net of cash acquired and seller financing provided (47,310,900) 0
Purchase of intangible assets - Software (96,659) 0
Purchases of property and equipment (7,100,362) (123,204)
Net cash used in investing activities (54,507,921) (123,204)
FINANCING ACTIVITIES:    
Net borrowings under revolver loans 15,155,743 806,304
Payments on debt issuance costs (1,155,000) 0
Payment for the purchase of the noncontrolling interest 0 (2,000,000)
Proceeds from issuance of notes payable 36,984,434 0
Payment of series E preferred stock dividends (959) (959)
Purchase of treasury stock 0 (80,292)
Payments on notes payable (1,704,286) (477,672)
Payments on notes payable, related party 0 (845,566)
Net cash provided by (used in) financing activities 49,279,932 (2,598,185)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (18,446) 693,305
CASH AND CASH EQUIVALENTS, beginning of period 770,895 2,727,818
CASH AND CASH EQUIVALENTS, end of period 752,449 3,421,123
Supplemental cash flow disclosures:    
Interest paid 2,547,563 680,469
Income taxes paid 0 790,000
Noncash financing and investing activities:    
Notes payable issued to sellers of Vintage Stock 10,000,000 0
Conversion of accrued expense liabilities into common stock 3,384,500 0
Accrued and unpaid dividends 959 959
Note payable issued for purchase of noncontrolling interest $ 0 $ 500,000

Source