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Live Current Sells More Shares, Now Can Avoid “Grey Market” for Perfume

August 5, 2010Domaining, Domainnamewire, livc.ob, live current media, UncategorizedComments Off on Live Current Sells More Shares, Now Can Avoid “Grey Market” for Perfume

More equity sales from troubled company.

Fresh on the heels of raising $370,000 through equity sales at the end of last month, Live Current Media has raised another $225,000 through the same offering. That brings the total to $595,000. All told, the equity sale included 5.95 million shares and 5.95 million warrants to purchase shares at 15 cents each within the next two years.

Live Current says it will use this money for general purposes and to purchase inventory for its Perfume.com site for the holidays rush.

The closing of this financing will allow Live Current Media to purchase brand name fragrances directly without having to go through the secondary, grey market and to sell them at improved margins”, states Live Current President and COO, Paul Morrison. “Perfume.com will now be able to, in addition to purchasing the classic fragrances, have access to the newest fragrances as they are released. It can take up to six months for these new products to filter down to the secondary, grey market, providing Live Current with product that few other e-commerce sites will carry.

I suspect “grey market” is used frequently in the perfume world, but it seems like a sketchy way to explain the market in which your business operates. “Secondary market” isn’t quite to inflammatory.


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Live Current Posts a Profit (Sort of), Plans to Develop Boxing.com

May 14, 2010Domaining, Domainnamewire, livc.ob, live current media, UncategorizedComments Off on Live Current Posts a Profit (Sort of), Plans to Develop Boxing.com

Live Current goes into the black thanks to domain sales and leases.

Live CurrentLive Current Media posted a small profit of $84,078 for the first quarter of 2010, the company announced today. But that profit was only possible thanks to a $250,000 “Gain on settlement of amounts due regarding Global Cricket Venture” and $600,000 from “Gain from sales and sales-type lease of domain names.”

But the company says it is now fully funded through 2011 thanks in part to cost concessions from employees and service providers and future income from domain lease payments.

That doesn’t mean the company has necessarily turned the corner. Its balance sheet has only $0.78 million in current assets but $1.72 million in current liabilities.

The company says it has “an agreement in principle with a group of boxing luminaries” to launch its Boxing.com web site. It also shifted its strategy for Perfume.com from a discount perfume etailer to a full-price, luxury etailer. This could be a challenge in the short term:

As a result of this change in strategy and new target market, the old perfume.com email list that consists of mostly price sensitive buyers is now largely ineffective. We are building a new list with current customers, however this process will take time. Meanwhile, we believe that mail marketing is the most effective sales strategy.

Hopefully the “leaner” Live Current will be better at executing on its development projects than the Live Current of the past several years.


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