LiveOne Engages Macias Gini & O'Connell, LLP as Its New Auditor

Rhea-AI Summary

LiveOne (Nasdaq: LVO) announced on July 28, 2022, that it will disclose its first-quarter fiscal 2023 financial results by August 15, 2022. The company has engaged Macias Gini & O'Connell, LLP as its new auditor effective July 25, 2022. A future press release will detail the upcoming conference call and audio webcast regarding the financial results. As of June 26, 2022, LiveOne boasts over 2.35 million members and a vast content library, including 30 million songs and over 600 curated radio stations.

Positive

• Engaged a reputable auditing firm, MGO LLP, which is ranked among the top CPA firms in the nation.
• Accrued over 2.35 million paid and free members by June 26, 2022.
• Possesses a diverse content library with over 30 million songs and 600 radio stations.

Negative

• None.

LiveOne to Announce First Quarter Fiscal 2023 Financial Results and Host Investor Webcast by August 15, 2022

LOS ANGELES, July 28, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today that effective as of July 25, 2022, it engaged Macias Gini & O'Connell, LLP as its new auditor.

LiveOne plans to announce its operating and financial results for its first quarter ended June 30, 2022 by August 15, 2022. The details for the conference call and audio webcast will be provided in a future press release.

About MGO LLP

One of the fastest growing professional services firms in the country, MGO combines deep industry expertise with proven accounting and advisory solutions to deliver tangible results. Our clients range from global technology and life science leaders to public companies and innovative start-ups – from the largest government entities in the country, to the biggest names in entertainment.

MGO is ranked as one of the top CPA firms in the nation by Accounting Today and Inside Public Accounting, and the firm was awarded the 'Best of Accounting' designation in Client Satisfaction by the independent research firm.

About LiveOne, Inc.

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company was awarded Best Live Moment by Digiday for its "Social Gloves" PPV Event, and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of June 26, 2022, the Company has accrued a paid and free membership base of over 2.35 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, including the proposed spin-out of PodcastOne or its pay-per-view business, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's ability to list on a national exchange; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid members; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.

LiveOne IR Contact:
(310) 601-2505
ir@liveone.com

Press Contact:
LiveOne
aileen@liveone.com
917.842.9653
aavidon@liveone.com
516.522.1349

 

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SOURCE LiveOne, Inc.

FAQ

When will LiveOne announce its first-quarter fiscal 2023 financial results?

LiveOne plans to announce its first-quarter fiscal 2023 financial results by August 15, 2022.

Who is LiveOne's new auditor?

LiveOne has engaged Macias Gini & O'Connell, LLP as its new auditor effective July 25, 2022.

How many members does LiveOne have as of June 26, 2022?

As of June 26, 2022, LiveOne has over 2.35 million paid and free members.