Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Mar. 31, 2015
Mar. 31, 2014
OPERATING ACTIVITIES:    
Net loss $ (6,042,654)us-gaap_NetIncomeLoss $ (1,384,019)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 332,147us-gaap_DepreciationAndAmortization 211,237us-gaap_DepreciationAndAmortization
Non-cash interest expense associated with convertible debt and warrants 2,191,273LIVE_NoncashInterestExpenseAssociatedWithConvertibleDebtAndWarrants 113,971LIVE_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 34,434us-gaap_UnrealizedGainLossOnDerivatives
Stock based compensation expense 48,399us-gaap_ShareBasedCompensation 105,860us-gaap_ShareBasedCompensation
Non-cash issuance of common stock for services 89,627us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 69,108us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Gain on disposal of property and equipment 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment (207)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Provision for uncollectible accounts 1,767us-gaap_ProvisionForDoubtfulAccounts (32,667)us-gaap_ProvisionForDoubtfulAccounts
Reserve for obsolete inventory 194,636LIVE_ReserveForObsoleteInventory 0LIVE_ReserveForObsoleteInventory
Changes in assets and liabilities:    
Accounts receivable (16,924)us-gaap_IncreaseDecreaseInAccountsReceivable (163,994)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other current assets 220,624us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (464,699)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Inventory 1,254,837us-gaap_IncreaseDecreaseInInventories 4,627us-gaap_IncreaseDecreaseInInventories
Deposits and other assets 361us-gaap_IncreaseDecreaseInDepositOtherAssets 2,700us-gaap_IncreaseDecreaseInDepositOtherAssets
Accounts payable (1,112,728)us-gaap_IncreaseDecreaseInAccountsPayable (127,676)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities (24,612)us-gaap_IncreaseDecreaseInAccruedLiabilities 128,183us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (942,625)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (1,503,142)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
INVESTING ACTIVITIES:    
Acquisition of business 0us-gaap_OtherPaymentsToAcquireBusinesses (200,000)us-gaap_OtherPaymentsToAcquireBusinesses
Expenditures for intangible assets (37,047)us-gaap_PaymentsToAcquireIntangibleAssets (3,563)us-gaap_PaymentsToAcquireIntangibleAssets
Proceeds from the sale of property and equipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,400us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Purchases of property and equipment (33,157)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (6,167)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (70,204)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (208,330)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
FINANCING ACTIVITIES:    
Issuance of common stock for cash, net of issuance costs 538,441us-gaap_ProceedsFromIssuanceOfCommonStock 9,696,013us-gaap_ProceedsFromIssuanceOfCommonStock
Payments on notes payable (551,112)us-gaap_RepaymentsOfNotesPayable 0us-gaap_RepaymentsOfNotesPayable
Proceeds from issuance of convertible debt 100,000us-gaap_ProceedsFromConvertibleDebt 823,595us-gaap_ProceedsFromConvertibleDebt
Net cash provided by financing activities 87,329us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 10,519,608us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (925,500)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 8,808,136us-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 7,189,182us-gaap_CashAndCashEquivalentsAtCarryingValue 9,569,594us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow disclosures:    
Interest paid 17,732us-gaap_InterestPaidNet 754us-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 500,000LIVE_RecognitionOfContingentBeneficialConversionFeature
Conversion of notes payable and accrued interest into common stock 635,756us-gaap_ConversionOfStockAmountConverted1 0us-gaap_ConversionOfStockAmountConverted1
Accrued and unpaid dividends $ 962us-gaap_Dividends $ 959us-gaap_Dividends