- Additional Proxy Soliciting Materials - Non-Management (definitive) (DFAN14A)
October 06 2010 - 10:08AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a) of the Securities
Exchange
Act of 1934
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the Registrant
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for Use of the Commission Only (as permitted by Rule
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Definitive
Proxy Statement
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Definitive
Additional Materials
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¨
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Soliciting
Material Pursuant to §240.14a-12
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LIVE CURRENT MEDIA,
INC.
(Name of
the Registrant as Specified In Its Charter)
DAVID
JEFFS
JOHN DA
COSTA
CARL
JACKSON
SUSAN
JEFFS
CAMERON
PAN
ADAM
RABINER
AMIR
VAHABZADEH
(Name(s)
of Person(s) Filing Proxy Statement, if other than the Registrant)
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Help
Stop the Meltdown at Live Current Media
VANCOUVER, BC, Oct. 6 -
Live
Current Media Inc.’s (OTCBB: LIVC) former CEO David Jeffs urges Live Current's
shareholders to exercise their voting power to make badly needed changes to
their company by ousting the current chairman and CEO and the current board of
directors, and electing a new slate of directors at the company's annual meeting
on October 12, 2010.
Mr. Jeffs
was the company's CEO from 2002 through May 2007 and its president from 2002
through September 2007. He owns approximately 3.74% of the outstanding shares of
the company. Mr. Jeffs has proposed seven nominees for election as
directors of the company at the annual meeting, all of whom are investors or
former officers of Live Current: David Jeffs, John Da Costa, Carl Jackson, Susan
Jeffs, Cameron Pan, Adam Rabiner and Amir Vahabzadeh. These nominees together
own 15.45% of the outstanding stock.
Geoff
Hampson, the current CEO and a director, and the current board have asserted
that they are the only ones who can manage Live Current's future, relying on
this track record since Mr. Jeffs left the company in 2007:
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·
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The
share price has dropped from more than $2 per share to around 10¢
today.
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·
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Revenue
has dropped 59% year over year in the most recent quarter ended June
30, 2010.
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·
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Shareholders
have been diluted by more than 40%, mostly by the issuance of 5.95
million shares in July and August 2010 at 10¢ per share, a majority
of which were issued to Mr. Hampson, his family and other members of
the board.
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·
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Quarterly
operating expenses have increased 404% to a quarterly average of
$1,811,000 from a quarterly average of just $359,204 under Mr. Jeffs'
management.
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·
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Quarterly
LOSSES have averaged a whopping
$1,340,549.
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For a
more detailed report of what the current management has accomplished at the
shareholders' expense, click the following link:
http://bit.ly/a7rE0R
.
It's
Time to Stop the Meltdown!
Nothing
in the company's recent performance indicates that the current management has
embarked upon a sustainable business plan as evidenced by the declining share
price, deteriorating financial condition, profits that have turned to losses,
slowing sales and increased operating expenses since Mr. Hampson was named CEO
in 2007.
Mr. Jeffs
and the six proposed nominees have the experience, ability and expertise to stop
the long deterioration in the company's performance and are committed to working
in the best interests of the shareholders.
Do not
give the incumbent board another chance. Mr. Jeffs urges shareholders to
vote in favor of his slate of seven nominees to ensure that Live Current has a
future by voting with the White Proxy Card to give experienced management a
chance to turn Live Current around.
AN
IMPORTANT REMINDER: The LAST-voted proxy card is the only one that counts at the
shareholder meeting.
For
more information, please contact
David
Jeffs
dmjeffs@gmail.com
or
Laurel
Hill Advisory Group
Toll free
at 1-800-385-3006
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