Welcome!

Web 2.0 Authors: Liz McMillan, Elizabeth White, Pat Romanski, Natalie Lerner, Dana Gardner

News Feed Item

LiveWorld Reports First Quarter Financial Results

LiveWorld, Inc. (OTC Markets: LVWD), today announced the financial results for the first quarter of 2014. Total revenues were approximately $3.3 million for the first quarter as compared to the approximately $3.9 million in total revenues reported for 2013.

The Company reported a net loss for the quarter of approximately $307,000, or 9% of total revenues. This compares to net income of approximately $285,000, or 7% of total revenues, reported for the first quarter of 2013. The earnings / (loss) per share on a fully diluted basis were $(0.01) and $0.01 for the first quarters of 2014 and 2013, respectively.

The company finished the first quarter with approximately $4.3 million in cash and cash equivalents as compared to the approximately $2.5 million at the end of the first quarter in 2013. The Company reported a positive working capital balance of approximately $3.6 million as of March 31, 2014 as compared to the approximately $3.8 million as of March 31, 2013.

“Our first quarter results are consistent with our 2014 projections, in particular continuing to transition the business from our legacy revenue in web sites to the general social web and making deeper investments in product development and expansion of sales and marketing.” said David Houston, Chief Financial Officer of LiveWorld. “We are investing in our future, and developing new revenue streams will help diversify and grow our client base.”

Detailed financial information may be downloaded at www.liveworld.com (financials page) or at www.otcmarkets.com

About LiveWorld

LiveWorld is a social content marketing company. Through a combination of software and services we provide strategy, engagement, moderation, and insight to help brands develop deeper relationships with customers. We bring a human touch scaled by technology that creates value out of user content and provides big cost savings. By providing software and services, LiveWorld delivers a full range of social media solutions to improve relationship marketing, customer support, and market learning. Fortune 500 brands use our solutions to engage their clients in a way that’s social, personal, and direct, yet affordable and sustainable on a large scale. Our proprietary technology empowers people to moderate and respond to user comments at scale and to analyze data in context with human intelligence and sensitivity. LiveWorld is a trusted partner of the world’s largest brands, including the number-one companies in retail, CPG, pharmaceutical, and financial/travel services. For our clients, we develop strategy, create and publish content, engage customers, moderate content, manage crises, and glean insight from social media. LiveWorld is headquartered in California, with offices in New York City and San Jose. 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's 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.
BALANCE SHEETS
(In thousands)
   
March 31, December 31,
2014 2013
ASSETS
Current assets
Cash and cash equivalents $ 4,317 $ 4,413
Accounts receivable 365 488
Prepaid expenses   336     336  
Total current assets 5,018 5,237
 
Property and equipment, net 239 257
Other assets   17     18  
Total assets $ 5,274   $ 5,512  
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 372 $ 159
Accrued employee expenses 596 576
Other accrued liabilities 59 6
Deferred revenue   386     665  
Total current liabilities   1,413     1,406  
 
 
Stockholders' equity

Common stock: $0.001 par value, 100,000,000 shares authorized 33,321,634 issued and outstanding as of March 31, 2014 and December 31, 2013,

33 33
Additional paid-in capital 141,510 141,448
Accumulated deficit   (137,682 )   (137,375 )
Total stockholders' equity   3,861     4,106  
Total liabilities and stockholders' equity $ 5,274   $ 5,512  
 
 
LIVEWORLD, INC.
STATEMENTS OF OPERATIONS
(In thousands, except per share data)
   

Three Months Ended
March 31,

2014 2013
Total revenues $ 3,311 $ 3,874
Cost of revenues   1,411     1,362
Gross Margin 1,900 2,512
Operating Expenses
Product development 900 1,021
Sales and marketing 548 498
General and administrative   748     702
Total operating expenses   2,196     2,221
Income / (loss) before tax (296 ) 291
Provision for income taxes 11 6
Net income/ (loss)   (307 )   285
 
Basic net income/ (loss) per share $ (0.01 ) $ 0.01
Shares used in computing basic income/ (loss) per share 33,321,634 33,257,634
Diluted income/ (loss) per share $ (0.01 ) $ 0.01
Shares used in computing diluted income/ (loss) per share 33,321,634 41,707,087
 
Departmental allocation of stock-based compensation:
Cost of revenues $ 11 $ 8
Product development 19 12
Sales and marketing 12 5
General and administrative   20     8
Total stock-based compensation $ 62   $ 33
 
 
LIVEWORLD, INC.
STATEMENTS OF CASH FLOWS
(In thousands)
 
Three Months Ended
March 31,
2014   2013
Cash flows from operating activities:
Net income $ (307 ) $ 285
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 39 29
Stock-based compensation 62 33
Changes in operating assets and liabilities:
Accounts receivable 123 (1,030 )
Other assets 1 33
Accounts payable 213 140
Accrued employee expenses and other liabilities 73 154
Deferred revenue   (279 )   (502 )
Net cash provided by operating activities   (75 )   (858 )
Cash flows from investing activities:
Purchases of property and equipment   (21 )   (21 )
Net cash used in investing activities   (21 )   (21 )
Change in cash and cash equivalents (96 ) (879 )
Cash and cash equivalents, beginning of year   4,413     3,382  
Cash and cash equivalents, end of year $ 4,317   $ 2,503  
 

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...