Investor Relations
Financials
v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Sep. 30, 2020
Assets    
Cash $ 11,928 $ 8,984
Trade receivables, net 21,962 20,121
Inventories, net 61,826 64,525
Prepaid expenses and other current assets 1,254 1,778
Debtor in possession assets 200 520
Total current assets 97,170 95,928
Property and equipment, net 31,660 30,376
Right of use asset - operating leases 28,378 30,894
Deposits and other assets 459 223
Deferred taxes   1,021
Intangible assets, net 850 1,063
Goodwill 37,754 37,754
Total assets 196,271 197,259
Liabilities:    
Accounts payable 10,661 9,117
Accrued liabilities 12,260 14,822
Income taxes payable 3,498 736
Current portion of lease obligations - operating leases 7,104 7,176
Current portion of long-term debt 9,878 11,986
Current portion of notes payable related parties   1,297
Debtor-in-possession liabilities 11,842 12,228
Total current liabilities 55,243 57,362
Long-term debt, net of current portion 52,979 63,390
Lease obligation long term - operating leases 25,782 28,101
Notes payable related parties, net of current portion 4,000 4,000
Deferred taxes 312  
Other non-current obligations 405 734
Total liabilities 138,721 153,587
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 200,000,000 shares authorized, 1,555,175 and 1,589,101 shares issued and outstanding at March 31, 2021 and September 30, 2020, respectively 2 2
Paid in capital 64,759 64,472
Treasury stock common 533,011 shares as of March 31, 2021 and 499,805 shares as of September 30, 2020 (4,481) (4,098)
Accumulated deficit (2,282) (16,429)
Equity attributable to Live stockholders 57,991 43,940
Non-controlling interest (441) (268)
Total stockholders' equity 57,550 43,672
Total liabilities and stockholders' equity 196,271 197,259
Series B Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Series E Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Treasury stock Series E preferred 50,000 shares as of March 31, 2021 and of September 30, 2020 $ (7) $ (7)

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v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Revenues $ 70,890 $ 46,431 $ 133,344 $ 88,432
Cost of revenues 44,400 28,655 84,585 54,030
Gross profit 26,490 17,776 48,759 34,402
Operating expenses:        
General and administrative expenses 12,565 11,701 24,844 22,510
Sales and marketing expenses 2,800 3,007 5,499 5,337
Total operating expenses 15,365 14,708 30,343 27,847
Operating income 11,125 3,068 18,416 6,555
Other (expense) income:        
Interest expense, net (1,649) (1,270) (3,119) (2,627)
Gain on lease settlement, net 0 837 0 223
Gain on Payroll Protection Program loan forgiveness 1,382 0 1,382 0
Gain on disposal of fixed assets (129) 0 0 0
Gain on bankruptcy settlement 1,115 0 1,115 0
Other income (expense) 79 (125) 858 (306)
Total other (expense) income, net 798 (558) 236 (2,710)
Income before provision for income taxes 11,923 2,510 18,652 3,845
Provision for income taxes 3,228 629 4,678 979
Net income 8,695 1,881 13,974 2,866
Net loss attributable to non-controlling interest (39) 0 (173) 0
Net income attributable to Live stockholders $ 8,734 $ 1,881 $ 14,147 $ 2,866
Income per share:        
Basic $ 5.62 $ 1.07 $ 9.22 $ 1.61
Diluted $ 2.66 $ 0.54 $ 4.34 $ 0.82
Weighted average common shares outstanding:        
Basic 1,555,175 1,752,908 1,534,287 1,779,706
Diluted 3,284,133 3,462,115 3,263,245 3,488,913
Dividends declared - common stock $ 0 $ 0 $ 0 $ 0
Series B Convertible Preferred Stock        
Weighted average common shares outstanding:        
Dividends declared - convertible preferred stock 0 0 0 0
Series E Convertible Preferred Stock        
Weighted average common shares outstanding:        
Dividends declared - convertible preferred stock $ 0 $ 0 $ 0 $ 0

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v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES:    
Net income $ 13,974 $ 2,866
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition:    
Depreciation and amortization 3,420 2,477
Gain on lease settlement, net 0 (223)
Gain or loss on disposal of property and equipment (23) 106
Gain on Payroll Protection Program loan forgiveness (1,382) 0
Gain on bankruptcy settlement (1,115) 0
Amortization of debt issuance cost 612 212
Stock based compensation expense 287 48
Warrant extension fair value adjustment 0 368
Amortization of right-to-use assets 125 463
Change in reserve for uncollectible accounts 658 421
Change in reserve for obsolete inventory 964 (139)
Change in deferred income taxes 1,334 839
Change in other (148) (218)
Changes in assets and liabilities:    
Trade receivables (2,499) 117
Inventories 1,935 4,691
Income taxes 2,763 88
Prepaid expenses and other current assets 529 1,228
Deposits and other assets (235) 128
Accounts payable 2,594 (5,918)
Accrued liabilities (2,882) (983)
Net cash provided by operating activities 20,911 6,571
INVESTING ACTIVITIES:    
Purchase of intangible assets 0 (4)
Lonesome Oak acquisition 0 (550)
Purchase of property and equipment (5,469) (1,858)
Net cash provided by (used in) investing activities (5,469) (2,412)
FINANCING ACTIVITIES:    
Net borrowings (payments) under revolver loans (4,554) 2,640
Purchase of series E preferred treasury stock 0 (3)
Proceeds from issuance of notes payable 2,258 5,000
Purchase of common treasury stock (383) (759)
Payments on related party notes payable (2,000) 0
Debtor-in-possession cash 112 (187)
Payments on notes payable (7,931) (12,035)
Net cash used in financing activities (12,498) (5,344)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,944 (1,185)
CASH AND CASH EQUIVALENTS, beginning of period 8,984 2,681
CASH AND CASH EQUIVALENTS, end of period 11,928 1,496
Supplemental cash flow disclosures:    
Interest paid 2,516 1,187
Income taxes paid $ 369 $ 0

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