Annual report pursuant to Section 13 and 15(d)

4. Reclassification and Restatement (Details - FYE 2016)

v3.8.0.1
4. Reclassification and Restatement (Details - FYE 2016) - USD ($)
 3 Months Ended 12 Months Ended
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2015
Consolidated Balance Sheet:            
Current portion of long-term debt       $ 48,877,536 $ 2,011,880  
Long-term bebt, net of current portion       26,570,271 13,460,282  
Total liabilities       95,010,287 29,271,588  
Paid in capital         59,568,471 $ 59,214,290
Accumulated deficit       (28,575,716) (35,075,579) (52,903,519)
Total stockholders' equity       33,584,308 24,195,812 8,267,560
Consolidated Statement of Income:            
Bargain purchase gain on acquisition       0 1,499,345  
Total other income (expense), net       (7,515,778) 67,958  
Income before provision for income taxes       10,583,599 2,386,207  
Benefit for income taxes       4,081,819 (15,567,844)  
Net income attributed to Live Ventures Incorporated       6,501,780 17,829,857  
Consolidated Statement of Cashflows:            
Gain on bargain purchase of acquisition       0 (1,499,345)  
Change in deferred income taxes       3,524,572 (15,599,205)  
Change in prepaid expenses and other current assets       (1,646,527) (1,606,795)  
Net cash provided by operations       7,874,332 7,878,633  
Purchases of property and equipment       (6,414,971) (3,193,540)  
Net cash used by investing activities       (53,732,144) (2,539,683)  
Increase (decrease) in cash and cash equivalents       3,201,644 (1,956,923)  
Consolidated Statement of Changes in Stockholders' Equity            
Paid in capital         59,568,471 59,214,290
Accumulated deficit       (28,575,716) (35,075,579) (52,903,519)
Series E Convertible Preferred Stock [Member]            
Consolidated Balance Sheet:            
Series E convertible preferred stock       128 128 128
Consolidated Statement of Changes in Stockholders' Equity            
Series E convertible preferred stock       $ 128 128 128
As Previously Reported [Member]            
Consolidated Balance Sheet:            
Current portion of long-term debt $ 5,847,194 $ 5,832,567 $ 6,226,454   1,789,290  
Long-term bebt, net of current portion 70,104,445 69,019,133 67,287,070   13,682,872  
Total liabilities 93,105,215 90,550,517 91,328,118   29,271,588  
Paid in capital 56,841,245 56,773,754 56,705,679   53,319,217 52,965,036
Accumulated deficit (23,441,219) (25,568,783) (27,408,969)   (28,837,063) (46,665,003)
Series E convertible preferred stock 10,866 10,866 10,866   10,866 10,866
Total stockholders' equity 32,616,801 30,918,112 29,009,849   24,195,812  
Consolidated Statement of Income:            
Bargain purchase gain on acquisition         4,573,968  
Total other income (expense), net         3,142,581  
Income before provision for income taxes         5,460,830  
Benefit for income taxes         (12,493,221)  
Net income attributed to Live Ventures Incorporated         17,829,857  
Consolidated Statement of Cashflows:            
Gain on bargain purchase of acquisition         (4,573,968)  
Change in deferred income taxes         (12,524,582)  
Change in prepaid expenses and other current assets (2,104,859) (2,520,099) (1,990,407)   (3,423,650)  
Net cash provided by operations 8,830,128 5,209,543 4,994,685   6,061,778  
Purchases of property and equipment 7,753,755 7,100,362 4,869,153   (1,376,685)  
Net cash used by investing activities (55,150,965) (54,507,921) (62,180,053)   (722,828)  
Increase (decrease) in cash and cash equivalents         (1,956,923)  
Consolidated Statement of Changes in Stockholders' Equity            
Paid in capital 56,841,245 56,773,754 56,705,679   53,319,217 52,965,036
Accumulated deficit (23,441,219) (25,568,783) (27,408,969)   (28,837,063) (46,665,003)
Series E convertible preferred stock 10,866 10,866 10,866   10,866 10,866
As Restated [Member]            
Consolidated Balance Sheet:            
Current portion of long-term debt 23,222,636 21,210,899 20,505,143   222,590  
Long-term bebt, net of current portion 52,729,003 53,640,801 53,008,381   (222,590)  
Total liabilities 93,105,215 90,550,517 91,328,118   0  
Paid in capital 63,090,499 63,023,008 62,954,933   6,249,254 6,249,254
Accumulated deficit (29,679,735) (31,807,299) (33,647,485)   (6,238,516) (6,238,516)
Series E convertible preferred stock 128 128 128   (10,738) (10,738)
Total stockholders' equity 32,616,801 30,918,112 29,009,849   0  
Consolidated Statement of Income:            
Bargain purchase gain on acquisition         (3,074,623)  
Total other income (expense), net         (3,074,623)  
Income before provision for income taxes         (3,074,623)  
Benefit for income taxes         (3,074,623)  
Net income attributed to Live Ventures Incorporated         0  
Consolidated Statement of Cashflows:            
Gain on bargain purchase of acquisition         3,074,623  
Change in deferred income taxes         (3,074,623)  
Change in prepaid expenses and other current assets (288,004) (703,244) (173,552)   1,816,855  
Net cash provided by operations 7,013,273 3,392,688 3,177,830   1,816,855  
Purchases of property and equipment 5,936,900 5,283,507 3,052,298   (1,816,855)  
Net cash used by investing activities (53,334,110) (52,691,066) (60,363,198)   (1,816,855)  
Increase (decrease) in cash and cash equivalents         0  
Consolidated Statement of Changes in Stockholders' Equity            
Paid in capital 63,090,499 63,023,008 62,954,933   6,249,254 6,249,254
Accumulated deficit (29,679,735) (31,807,299) (33,647,485)   (6,238,516) (6,238,516)
Series E convertible preferred stock $ 128 $ 128 $ 128   $ (10,738) $ (10,738)