Document and Entity Information - shares |
6 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
May 13, 2020 |
|
| Cover [Abstract] | ||
| Entity Registrant Name | Live Ventures Inc | |
| Entity Central Index Key | 0001045742 | |
| Document Type | 10-Q/A | |
| Amendment Description | We are filing this Amendment No. 1 on Form 10-Q/A to amend and restate in their entirety the following items of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 as originally filed with the Securities and Exchange Commission on May 15, 2020 (the “Original Form 10-Q”): (i) Item 1 of Part I “Financial Information,” (ii) Item 2 of Part I, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and (iii) Item 6 of Part II, “Exhibits”, and we have also updated the signature page, the certifications of our Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, 32.1 and 32.2, and our financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibits 101. No other sections were affected, but for the convenience of the reader, this report on Form 10-Q/A restates in its entirety, as amended, our Original Form 10-Q. This report on Form 10-Q/A is presented as of the filing date of the Original Form 10-Q and does not reflect events occurring after that date or modify or update disclosures in any way other than as required to reflect the restatement described below. Our previously issued consolidated financial statements for the quarterly period ended March 31, 2020 has been reclassified and restated. As described in more detail in Note 1 to our consolidated financial statements, we have determined that our previously reported results for the quarter ended March 31, 2020 erroneously accounted for the gain in lease settlement for lease liabilities that were settled by our subsidiary ApplianceSmart, Inc during the reporting period. Additionally, we have determined that our previously reported results for the quarter ended December 31, 2019 erroneously accounted for the impairment charges associated with certain right of use assets which were written down due to the voluntary Chapter 11 bankruptcy filing by our subsidiary ApplianceSmart, Inc. This correction is reflected for the six months ended March 31, 2020. We have made necessary conforming changes in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” resulting from the correction of this error. | |
| Document Period End Date | Mar. 31, 2020 | |
| Amendment Flag | true | |
| Current Fiscal Year End Date | --09-30 | |
| Entity Current Reporting Status | Yes | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Emerging Growth Company | false | |
| Entity Small Business | true | |
| Entity Shell Company | false | |
| Entity Incorporation, State or Country Code | NV | |
| File Number | 001-33937 | |
| Entity Interactive Data Current | Yes | |
| Entity Common Stock, Shares Outstanding | 1,685,097 | |
| Document Fiscal Period Focus | Q2 | |
| Document Fiscal Year Focus | 2020 | |
| Trading Symbol | LIVE | |
| Title of 12(b) Security | Common Stock, $0.001 par value per share | |
| Security Exchange Name | NASDAQ | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Entity Tax Identification Number | 85-0206668 | |
| Entity Address, Address Line One | 325 E. Warm Springs Road | |
| Entity Address, Address Line Two | Suite 102 | |
| Entity Address, City or Town | Las Vegas | |
| Entity Address, State or Province | NV | |
| Entity Address, Postal Zip Code | 89119 | |
| City Area Code | 702 | |
| Local Phone Number | 997-5968 |