Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

LiveWorld Reports Second Quarter Financial Results

Healthcare Revenues Grow 26% For the Quarter

LiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter of 2021. Total revenues were approximately $2.5 million for the second quarter, as compared to the approximately $2.1 million in total revenues reported for the same period in 2020. This was an increase of approximately $389,000 or 18% when compared to the second quarter of 2020. Total revenues for the six months ended June 30, 2021 were approximately $4.7 million, as compared to the $4.0 million for the six months ended June 30, 2020. This was an increase of approximately $714,000 or 18% when compared to the six months ended June 30, 2020. Healthcare related revenues grew approximately 26% when compared to the second quarter of 2020.

We reported a net income for the quarter of approximately $130,000 or 5% of total revenues. This compares to net income of approximately $28,000 or 1% of total revenues reported for the second quarter of 2020. The company had a net income for the six months ended June 30, 2021 of approximately $251,000, or 5% of total revenues, as compared to the net loss for the six months ended June 30, 2020 of approximately $61,000, or 2% of total revenues.

We finished the second quarter with approximately $3.3 million in cash and cash equivalents, as compared to the approximately $2.6 million at the end of 2020.

“The second quarter saw our healthcare related revenues grow over 26%, or $454,000, resulting in the much-improved operating income for the company,” said David Houston, Chief Financial Officer of LiveWorld. “The second half of 2021 looks positive for both revenue growth and continued profitability.”

Detailed financial information may be downloaded at www.liveworld.com/ir (LiveWorld’s Investor Relations page) or at www.otcmarkets.com.

About LiveWorld

LiveWorld is a digital agency and software company specializing in social media solutions that help companies build stronger customer relationships. We provide consulting, strategy, and creative along with human agents, conversation management software, and chatbots for digital campaigns and social media programs. Our solutions empower companies to deepen relationships with customers, professionals, patients and healthcare providers with emotion driven behavior change through conversations and campaigns with a human touch. LiveWorld clients include the number one brands in pharmaceuticals, consumer packaged goods, and financial-travel services. LiveWorld is headquartered in San Jose, California, with an additional office in New York City. Learn more at www.liveworld.com and @LiveWorld.

“Safe Harbor" Statement Under The Private Securities Litigation Reform Act

This press release may contain forward-looking information concerning LiveWorld plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld’s current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. Actual results may differ materially from those expressed in the forward- looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld’s ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld’s ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

LIVEWORLD, INC.

UNAUDITED CONDENSED BALANCE SHEETS

(In thousands, except share data)

 

June 30,

 

December 31,

 

2021

 

 

 

2020

 

ASSETS

Current assets

Cash and cash equivalent

$

3,273

 

$

2,552

 

Accounts receivable, net

 

2,244

 

 

1,179

 

Prepaid expenses

 

170

 

 

96

 

Total current assets

 

5,687

 

 

3,827

 

 

Property and equipment, net

 

43

 

 

43

 

Other assets

 

25

 

 

25

 

Total assets

$

5,755

 

$

3,895

 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Accounts payable

$

148

 

$

139

 

Accrued employee expenses

 

1,179

 

 

680

 

Other accrued liabilities

 

27

 

 

68

 

Loan

 

1,026

 

 

921

 

Deferred revenue

 

1,913

 

 

897

 

Total current liabilities

 

4,293

 

 

2,705

 

Total liabilities

 

4,293

 

 

2,705

 

 

Stockholders' equity

Common stock: $0.001 par value, 100,000,000 shares authorized 45,633,442 issued and outstanding as of June 30, 2021 and December 31, 2020 respectively

 

34

 

 

34

 

Additional paid-in capital

 

143,672

 

 

143,651

 

Accumulated deficit

 

(142,244

)

 

(142,495

)

Total stockholders' equity

 

1,462

 

 

1,190

 

Total liabilities and stockholders' equity

$

5,755

 

$

3,895

 

 

LIVEWORLD, INC.

CONDENSED STATEMENT OF OPERATIONS

(In thousands, except per share data)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2021

 

 

2020

 

 

 

2021

 

 

2020

 

Total revenues

$

2,499

$

2,110

 

$

4,723

$

4,009

 

Cost of revenues

 

1,346

 

1,075

 

 

2,502

 

2,018

 

Gross Margin

 

1,153

 

1,035

 

 

2,221

 

1,991

 

Operating Expense

Product development

 

218

 

223

 

 

435

 

464

 

Sales and marketing

 

306

 

241

 

 

559

 

535

 

General and administrative

 

484

 

480

 

 

958

 

986

 

Total operating expense

 

1,008

 

944

 

 

1,952

 

1,985

 

Income / (loss) from operations

 

145

 

91

 

 

269

 

6

 

Income / (loss) before tax

 

145

 

91

 

 

269

 

6

 

Other Income / Expense

-----------

 

(63

)

-----------

 

(65

)

Provision for income taxes

 

15

----------

 

18

 

2

 

Net income / (loss)

 

130

 

28

 

 

251

 

(61

)

 

Basic income / (loss) per share

$

0.00

$

0.00

 

$

0.01

$

(0.00

)

Shares used in computing basic

loss per share

 

45,633,442

 

45,633,442

 

 

45,633,442

 

45,633,442

 

Diluted net income (loss) per share

$

0.00

$

0.00

 

$

0.01

$

(0.00

)

Shares used in computing diluted income (loss) per share

 

65,585,134

 

48,062,936

 

 

65,585,134

 

45,633,442

 

 

Departmental allocation of stock-based compensation:

Cost of revenues

$

3

$

2

 

$

4

$

5

 

Product development

 

1

 

3

 

 

3

 

6

 

Sales and marketing

 

1

 

 

3

 

 

 

3

 

 

5

 

General and administrative

 

7

 

4

 

 

12

 

8

 

Total stock-based compensation

$

12

$

12

 

$

22

$

24

 

 

LIVEWORLD, INC.

CONDENSED STATEMENTS OF CASH FLOWS

(In thousands)

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

2021

 

 

 

2020

 

 

 

2021

 

 

 

2020

 

Cash flows from operating activities:

Net income (loss)

$

130

 

$

28

 

$

251

 

$

(61

)

Adjustments to reconcile net income (loss) provided by (used in) operating activities:

 

Depreciation of long-lived assets

 

5

 

 

2

 

 

9

 

 

5

 

Stock-based compensation

 

12

 

 

12

 

 

22

 

 

24

 

Changes in operating assets and liabilities:

Accounts receivable

 

(66

)

 

907

 

 

(1,065

)

 

(645

)

Other assets

 

40

 

 

25

 

 

(77

)

 

82

 

Accounts payable

 

4

 

 

(63

)

 

9

 

 

(120

)

Accrued liabilities

 

375

 

 

225

 

 

458

 

 

202

 

Deferred revenue

 

565

 

 

(40

)

 

1,017

 

 

796

 

Net cash provided by (used in) operating activities

 

1,065

 

 

1,096

 

 

624

 

 

283

 

Cash flows from investing activities:

Purchase of property and equipment

 

(4

)

 

(7

)

 

(9

)

 

(7

)

Net cash provided by (used in) investing activities

 

(4

)

 

(7

)

 

(9

)

 

(7

)

Cash flows from financing activities:

Loan

-----------

 

609

 

 

106

 

 

1,027

 

Proceeds from exercise of stock options

-----------

----------

-----------

----------

Net cash provided by (used for) financing activities

-----------

 

609

 

 

106

 

 

1,027

 

Change in cash and cash equivalent

 

1,061

 

 

1,698

 

 

721

 

 

1,303

 

Cash and cash equivalents, beginning of period

 

2,212

 

 

335

 

 

2,552

 

 

730

 

Cash and cash equivalents, end of period

$

3,273

 

$

2,033

 

$

3,273

 

$

2,033

 

 

Supplemental disclosure of non-cash financing and investing activities:

Income taxes paid

$

15

 

$ ----------

$

18

 

$

2

 

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.