Live Ventures Announces Initiation of Quarterly Conference Calls
January 10 2017 - 8:00AM
Live Ventures Incorporated (Nasdaq:LIVE) (“Live Ventures” or the
“Company”), a diversified holding company, announces today, as part
of its increased investor relations activities, the initiation of
quarterly conference calls beginning with its fiscal first quarter
2017 quarterly update, scheduled for mid-February.
In the coming days, the Company will announce the date and
dial-in information for the conference call, which will also be
webcast. Ahead of the call, the Company will accept investor
questions submitted to questions@live-ventures.com.
“As our Company grows, it is increasingly important that we
establish clear, two-way communications with our stockholders,”
said Jon Isaac, CEO of Live Ventures Incorporated. “The
initiation of our quarterly conference calls is an important first
step in what will be a robust series of activities. We
encourage all stockholders and potential investors to participate
in these calls to stay current with our financials and our overall
progress as a company. We highly encourage stockholders to
submit questions and we look forward to answering them on the
call.”
About Live Ventures Incorporated Live Ventures
Incorporated is a diversified holding company with several wholly
owned subsidiaries and a strategic focus on acquiring profitable
companies that have demonstrated a strong history of earnings
power. Live Ventures Incorporated provides, among other
businesses, marketing solutions that boost customer awareness and
merchant visibility on the Internet. The Company operates a
deal engine, which is a service that connects merchants and
consumers via an innovative platform that uses geo-location,
enabling businesses to communicate real-time and instant offers to
nearby consumers. In addition, it maintains, through its
subsidiary, ModernEveryday, an online consumer products retailer
and, through its subsidiary, Marquis Industries, a specialty,
high-performance yarns manufacturer, hard-surfaces re-seller, which
is a top-10 high-end residential carpet manufacturer in the United
States. Marquis Industries, through its A-O Division,
utilizes its state-of-the-art yarn extrusion capacity to market
monofilament textured yarn products to the artificial turf
industry. Marquis is the only manufacturer in the world that
can produce certain types of yarn prized by the industry.
Most recently, the Company acquired Vintage Stock, Inc., an
award-winning entertainment featuring movies, classic and new video
games, music, collectible comics and toys, and the ability to
special order and ship product worldwide to the customer’s
doorstep. Vintage Stock is America’s largest entertainment
superstore chain.
In December, its largest stockholder and a third party that for
years had provided a large, standby lending arrangement, agreed to
lock up all of their shares for five years (through December 31,
2021). To ensure that lock-up arrangement, they exchanged all
of their shares for a series of “common equivalent” preferred
stock, which is not redeemable; has no liquidation preference and
virtually identical dividends (if any are declared); has no board
seats and votes with the common stock; and is convertible back into
common stock without any dilution (based on its original exchange
from common stock). Accordingly, the Company’s common stock
was reduced from approximately 2.8 million to 2.0 million
shares. Further, the approximately 590,146 warrants that are
owned by our largest stockholder are also subject to the five-year
lock up and have been exchanged for the same series of “common
equivalent” preferred stock.
Forward-Looking and Cautionary StatementsThis
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of
this Act, statements contained herein that look forward in time
that include everything other than historical information, involve
risks and uncertainties that may affect the Company’s actual
results. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. Live Ventures Incorporated may also make written
or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission on Forms 10-K, 10-Q and
8-K, in its annual report to stockholders, in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. There can be no
assurance that such statements will prove to be accurate and there
are a number of important factors that could cause actual results
to differ materially from those expressed in any forward-looking
statements made by the Company, including, but not limited
to, plans and objectives of management for future operations
or products, the market acceptance or future success of our
products, and our future financial performance. The
Company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the Company’s Form 10-K for the fiscal year ended
September 30, 2016, most recent Form 10-Q, and other filings with
the U S. Securities and Exchange Commission (available
at http://www.sec.gov). The Company undertakes no obligation
to publicly update or revise any statements in this release,
whether as a result of new information, future events, or
otherwise.
Contact:
Live Ventures Incorporated
Tim Matula, investor relations
425-836-9035
tmatula@live-ventures.com
http://live-ventures.com
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