Investor Relations
Financials
v3.22.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Sep. 30, 2021
Assets    
Cash $ 3,625 $ 4,664
Trade receivables, net of allowance for doubtful accounts of approximately $56,000 at June 30, 2022 and $61,000 at September 30, 2021 24,974 21,559
Inventories, net of reserves of approximately $2.3 million at June 30, 2022, and approximately $1.8 million at September 30, 2021 95,961 70,747
Prepaid expenses and other current assets 4,596 1,640
Debtor in possession assets 180
Total current assets 129,156 98,790
Property and equipment, net of accumulated depreciation of approximately $24.4 million at June 30, 2022, and approximately $20.6 million at September 30, 2021 52,437 35,632
Right of use asset - operating leases 31,487 30,466
Deposits and other assets 1,043 682
Intangible assets, net of accumulated amortization of approximately $2.9 million at June 30, 2022, and approximately $2.2 million at September 30, 2021 4,991 4,697
Goodwill 43,653 41,471
Total assets 262,767 211,738
Liabilities:    
Accounts payable 17,016 10,644
Accrued liabilities 13,689 17,048
Income taxes payable 395 876
Current portion of lease obligations - operating leases 7,293 7,202
Current portion of lease obligations - finance leases 376
Current portion of long-term debt 18,418 16,055
Current portion of notes payable related parties 2,000
Debtor-in-possession liabilities 11,135
Total current liabilities 57,187 64,960
Long-term debt, net of current portion 58,475 37,559
Lease obligation long term - operating leases 31,014 29,343
Lease obligation long term - finance leases 7,803 0
Notes payable related parties, net of current portion 4,000 2,000
Deferred taxes 5,326 2,796
Other non-current liabilities 997
Total liabilities 164,802 136,658
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 10,000,000 shares authorized, 3,081,456 and 1,582,334 shares issued and outstanding at June 30, 2022 and September 30, 2021, respectively 2 2
Paid in capital 65,321 65,284
Treasury stock common 614,348 shares as of June 30, 2022 and 534,520 shares as of September 30, 2021, respectively (7,047) (4,519)
Treasury stock Series E preferred 50,000 shares as of June 30, 2022 and of September 30, 2021, respectively (7) (7)
Retained earnings 40,144 14,768
Equity attributable to Live stockholders 98,413 75,528
Non-controlling interest (448) (448)
Total stockholders' equity 97,965 75,080
Total liabilities and stockholders' equity 262,767 211,738
Series B Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Series E Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock

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v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues $ 68,269 $ 69,095 $ 213,133 $ 202,439
Net revenue 45,920 44,029 138,215 128,614
Gross profit 22,349 25,066 74,918 73,825
Operating expenses:        
General and administrative expenses 13,407 13,794 40,718 38,638
Sales and marketing expenses 3,078 3,040 9,480 8,539
Total operating expenses 16,485 16,834 50,198 47,177
Operating income 5,864 8,232 24,720 26,648
Other income (expense):        
Interest expense, net (674) (938) (2,549) (4,057)
Gain on Payroll Protection Program loan forgiveness 0 4,768 0 6,150
Gain (loss) on debt extinguishment 279 0 (84) 0
Loss on disposal of fixed assets (443) 0 (444) (132)
Loss on write-off of ROU asset (522) 0 (522) 0
Gain on bankruptcy settlement 0 650 11,352 1,765
Other income (expense) 333 (76) 751 914
Total other income (expense), net (1,027) 4,404 8,504 4,640
Income before provision for income taxes 4,837 12,636 33,224 31,288
Provision for income taxes 1,365 2,703 7,848 7,381
Net income 3,472 9,933 25,376 23,907
Net Income attributable to non-controlling interest 0 5 0 178
Net income attributable to Live stockholders $ 3,472 $ 9,938 $ 25,376 $ 24,085
Income per share:        
Basic $ 1.12 $ 6.35 $ 8.11 $ 15.41
Diluted $ 1.11 $ 3.01 $ 8.01 $ 7.31
Weighted average common shares outstanding:        
Basic 3,090,321 1,566,064 3,128,813 1,563,025
Diluted 3,130,925 3,297,854 3,169,258 3,294,815

Source

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 25,376,000 $ 23,907,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,616,000 5,089,000
loss on disposal of property and equipment 443,000 132,000
Gain on Payroll Protection Program loan forgiveness 0 (6,150,000)
Gain on bankruptcy settlement (11,501,000) (1,765,000)
Amortization of debt issuance cost (95,000) 635,000
Stock based compensation expense 37,000 230,000
Amortization of right-of-use assets 8,517,000 125,000
Write-off of ROU asset 522,000 0
Change in reserve for uncollectible accounts (6,000) 451,000
Change in reserve for obsolete inventory 431,000 1,137,000
Changes in assets and liabilities:    
Trade receivables (362,000) 295,000
Inventories (18,582,000) 934,000
Income taxes receivable (481,000) 5,214,000
Prepaid expenses and other current assets (450,000) 430,000
Change in deferred income taxes 2,529,000 1,340,000
Deposits and other assets (362,000) (359,000)
Accounts payable 3,741,000 3,010,000
Accrued liabilities (3,553,000) (1,972,000)
Change in other 24,000 (484,000)
Net cash provided by operating activities 10,844,000 32,199,000
INVESTING ACTIVITIES:    
Purchase of property and equipment (8,304,000) (8,470,000)
Net cash used in investing activities (32,659,000) (14,470,000)
FINANCING ACTIVITIES:    
Net borrowings (payments) under revolver loans 18,179,000 (3,247,000)
Stock option exercise 0 181,000
Proceeds from issuance of notes payable 20,292,000 2,258,000
Purchase of common treasury stock (2,528,000) (409,000)
Payments on related party notes payable 0 (5,500,000)
Debtor-in-possession cash 75,000 128,000
Payments on financing leases (120,000) 0
Payments on notes payable (15,122,000) (9,559,000)
Net cash provided by (used in) financing activities 20,776,000 (16,148,000)
Increase (decrease) in cash (1,039,000) 1,581,000
Cash, beginning of period 4,664,000 8,984,000
Cash, end of period 3,625,000 10,565,000
Supplemental cash flow disclosures:    
Interest paid 2,496,000 3,481,000
Income taxes paid 5,795,000 736,000
SW    
INVESTING ACTIVITIES:    
Investment 0 (6,000,000)
Kinetic    
INVESTING ACTIVITIES:    
Investment $ (24,355,000) $ 0

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