Investor Relations
Financials
v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2017
Sep. 30, 2016
Assets    
Cash and cash equivalents $ 4,275,052 $ 770,895
Trade and other receivables, net 11,376,486 8,334,801
Inventories, net 33,746,102 11,053,085
Prepaid expenses and other current assets 3,815,575 5,059,981
Total current assets 53,213,215 25,218,762
Property and equipment, net 21,081,840 14,014,501
Deposits and other assets 77,520 19,765
Deferred taxes 9,504,029 12,524,582
Intangible assets, net 2,779,351 1,689,790
Goodwill 39,066,061 0
Total assets 125,722,016 53,467,400
Liabilities:    
Accounts payable 9,741,460 5,402,654
Accrued liabilities 5,093,972 6,396,772
Income tax payable 318,144 0
Current portion of notes payable 5,847,194 1,789,290
Total current liabilities 21,000,770 13,588,716
Notes payable, net of current portion 70,104,445 13,682,872
Note payable, related party 2,000,000 2,000,000
Total Liabilities 93,105,215 29,271,588
Stockholders' equity:    
Common stock, $0.001 par value, 10,000,000 shares authorized, 2,088,186 shares issued and 2,010,413 shares outstanding at June 30, 2017; 2,819,327 shares issued and 2,789,205 shares outstanding at September 30, 2016 2,088 2,819
Paid in capital 56,841,245 53,319,217
Treasury stock (77,773 shares) (796,393) (300,027)
Accumulated deficit (23,441,219) (28,837,063)
Total stockholders' equity 32,616,801 24,195,812
Total liabilities and stockholders' equity 125,722,016 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 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Revenues $ 41,377,493 $ 19,994,363 $ 112,102,582 $ 59,938,720
Cost of revenues 24,383,596 14,894,949 65,988,083 42,823,232
Gross profit 16,993,897 5,099,414 46,114,499 17,115,488
Operating expenses:        
General and administrative expenses 9,335,904 2,172,366 25,544,443 6,696,637
Sales and marketing expenses 2,274,866 1,869,830 6,237,004 7,115,903
Total operating expenses 11,610,770 4,042,196 31,781,447 13,812,540
Operating income 5,383,127 1,057,218 14,333,052 3,302,948
Other (expense) income:        
Interest expense, net (2,127,790) (270,007) (5,612,319) (950,476)
Other income 12,652 326,708 197,814 694,277
Total other (expense) income, net (2,115,138) 56,701 (5,414,505) (256,199)
Income before provision for income taxes 3,267,989 1,113,919 8,918,547 3,046,749
Current tax expense:        
Federal 29,685 0 298,390 0
State (40,998) 0 202,322 0
Total Current tax expense (11,313) 0 500,712 0
Deferred tax expense (benefit):        
Federal 1,114,588 (12,254,278) 2,713,261 (11,840,298)
State 36,671 0 307,292 0
Total Deferred tax expense (benefit) 1,151,259 (12,254,278) 3,020,553 (11,840,298)
Total provision (benefit) for income taxes 1,139,946 (12,254,278) 3,521,265 (11,840,298)
Net income 2,128,043 13,368,197 5,397,282 14,887,047
Net income attributed to noncontrolling interest 0 0 0 124,194
Net income attributed to Live Ventures Incorporated $ 2,128,043 $ 13,368,197 $ 5,397,282 $ 14,762,853
Earnings per share - basic $ 1.04 $ 4.76 $ 2.36 $ 5.25
Earnings per share - diluted $ 0.55 $ 4.05 $ 1.31 $ 4.48
Weighted average common shares outstanding - basic 2,044,767 2,806,060 2,289,646 2,813,192
Weighted average common shares outstanding - diluted 3,869,248 3,297,012 4,131,912 3,292,507

Source

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES:    
Net income $ 5,397,282 $ 14,887,047
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of acquisition:    
Depreciation and amortization 3,112,786 1,623,013
Amortization of debt issuance cost 157,158 0
Stock based compensation expense 137,011 254,710
Loss on disposal of property and equipment 55,703 71,614
Non-cash interest expense associated with convertible debt and warrants 0 4,749
Non-cash issuance of common stock for services 0 22,500
Change in reserve for uncollectible accounts (39,865) 30,073
Change in reserve for obsolete inventory (771,971) 703,532
Change in contingent liability 0 (316,000)
Change in deferred income taxes 3,020,553 (12,254,278)
Changes in assets and liabilities:    
Accounts receivable (2,888,320) (426,744)
Prepaid expenses and other current assets 2,104,859 55,849
Inventories (1,760,954) 1,868,343
Deposits and other assets (57,755) 16,325
Accounts payable 495,296 556,916
Accrued liabilities (449,799) 333,874
Income tax payable 318,144 (376,000)
Net cash provided by operating activities 8,830,128 7,055,523
INVESTING ACTIVITIES:    
Acquisition of businesses, net of cash acquired and seller financing provided (47,310,900) 0
Purchase of intangible assets - Software (124,230) 0
Proceeds from the sale of property and equipment 37,920 653,857
Purchases of property and equipment (7,753,755) (3,343,937)
Net cash used in investing activities (55,150,965) (2,690,080)
FINANCING ACTIVITIES:    
Net borrowings under revolver loans 17,152,852 (2,485,546)
Payments on debt issuance costs (1,155,000) (415,757)
Payment for the purchase of the noncontrolling interest 0 (2,000,000)
Proceeds from issuance of notes payable 36,984,434 10,050,521
Payment of series E preferred stock dividends (959) (959)
Purchase of treasury stock (496,366) (202,005)
Payments on notes payable (2,659,967) (4,400,114)
Payments on notes payable, related party 0 (4,505,979)
Net cash provided by (used in) financing activities 49,824,994 (3,959,839)
INCREASE IN CASH AND CASH EQUIVALENTS 3,504,157 405,604
CASH AND CASH EQUIVALENTS, beginning of period 770,895 2,727,818
CASH AND CASH EQUIVALENTS, end of period 4,275,052 3,133,422
Supplemental cash flow disclosures:    
Interest paid 4,340,486 842,202
Income taxes paid 103,704 466,000
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 584,500 0
Conversion of accrued expense liability to Series B preferred stock 2,800,000  
Accrued and unpaid dividends 479 480
Note payable issued for purchase of noncontrolling interest $ 0 $ 500,000

Source