PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company reported significant growth in revenue and net income for the nine months ended June 30, 2021 Key Financial Metrics | Financial Metric | Nine Months Ended June 30, 2021 | Nine Months Ended June 30, 2020 | | :--- | :--- | :--- | | **Revenues** | $202,439 thousand | $130,904 thousand | | **Gross Profit** | $73,825 thousand | $51,115 thousand | | **Operating Income** | $26,648 thousand | $12,545 thousand | | **Net Income Attributable to Live Stockholders** | $24,085 thousand | $6,451 thousand | | **Diluted EPS** | $7.31 | $1.87 | Condensed Consolidated Balance Sheets | Balance Sheet Item | June 30, 2021 (Unaudited) | September 30, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $92,882 thousand | $95,928 thousand | | **Total Assets** | $198,708 thousand | $197,259 thousand | | **Total Current Liabilities** | $56,346 thousand | $57,362 thousand | | **Total Liabilities** | $131,127 thousand | $153,587 thousand | | **Total Stockholders' Equity** | $67,581 thousand | $43,672 thousand | Condensed Consolidated Statements of Cash Flows | Cash Flow Activity | Nine Months Ended June 30, 2021 | Nine Months Ended June 30, 2020 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $32,199 thousand | $18,075 thousand | | **Net Cash used in Investing Activities** | ($14,470) thousand | ($2,992) thousand | | **Net Cash used in Financing Activities** | ($16,148) thousand | ($12,075) thousand | | **Increase in Cash** | $1,581 thousand | $3,008 thousand | [Notes to the Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The notes detail the company's operating segments, a pending acquisition, debt reduction, and ongoing SEC litigation - The company operates through three segments: **Retail** (Vintage Stock and ApplianceSmart), **Flooring Manufacturing** (Marquis), and **Steel Manufacturing** (Precision Marshall)[20](index=20&type=chunk)[107](index=107&type=chunk) - On June 14, 2021, the company agreed to acquire **100% of SW Financial**, a registered broker-dealer, for approximately **$7.0 million**, pending regulatory approval[37](index=37&type=chunk)[44](index=44&type=chunk) - The SEC filed a civil complaint in August 2021 regarding **financial reporting violations from 2016-2018**, which the company denies[89](index=89&type=chunk) - The **ApplianceSmart subsidiary** continues to operate under Chapter 11 bankruptcy protection[94](index=94&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to growth across all segments, boosted by operational gains and one-time events [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Revenues grew 55% and net income surged, driven by broad segment growth and a $6.15 million PPP loan forgiveness gain Overall Performance Comparison | Performance Metric | Nine Months Ended June 30, 2021 | Nine Months Ended June 30, 2020 | | :--- | :--- | :--- | | **Revenues** | $202,439 thousand | $130,904 thousand | | **Gross Profit** | $73,825 thousand | $51,115 thousand | | **Operating Income** | $26,648 thousand | $12,545 thousand | | **Net Income** | $23,907 thousand | $6,451 thousand | - A gain of **$6.15 million** was recorded from the forgiveness of PPP loans during the nine months ended June 30, 2021[154](index=154&type=chunk) - A gain of **$1.765 million** was recorded from the discharge of certain payables in bankruptcy proceedings[155](index=155&type=chunk) [Results of Operations by Segment](index=37&type=section&id=Results%20of%20Operations%20by%20Segment) All segments reported strong operating income growth, with Retail up 145% and Flooring Manufacturing up 51% Segment Operating Income | Segment | Operating Income (9M 2021) | Operating Income (9M 2020) | % Change | | :--- | :--- | :--- | :--- | | Retail | $13,424 thousand | $5,481 thousand | +145% | | Flooring Manufacturing | $14,158 thousand | $9,381 thousand | +51% | | Steel Manufacturing | $3,814 thousand | $0 | N/A | | Corporate & Other | ($4,748) thousand | ($2,317) thousand | -105% | [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with $10.6 million in cash and $37.7 million available under credit facilities - As of June 30, 2021, the company had **$10.6 million in cash** and an additional **$37.7 million available** under its revolving credit facilities[168](index=168&type=chunk) - Net cash provided by operations was **$32.2 million** for the nine months ended June 30, 2021, compared to $18.1 million for the same period in 2020[171](index=171&type=chunk) - Working capital was **$36.8 million** as of June 30, 2021, a slight decrease from $38.6 million as of September 30, 2020[170](index=170&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company reports no material exposure to market risks such as foreign currency or commodity price fluctuations - The company believes it is **not subject in any material way to market risks**, including foreign currency exchange risk or commodity price risk[184](index=184&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective due to material weaknesses in internal control - Management concluded that **disclosure controls and procedures were not effective** as of the end of the period covered by the report[185](index=185&type=chunk) - Material weaknesses identified include a **lack of written documentation** of internal control policies and procedures and a failure to establish rigorous evaluation procedures[191](index=191&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company faces a civil complaint from the SEC and a shareholder class-action lawsuit, both of which it intends to defend - The SEC filed a civil complaint on August 2, 2021, against the company and two executives alleging **financial and reporting violations between 2016 and 2018**[197](index=197&type=chunk) - A shareholder class-action lawsuit was filed on August 13, 2021, alleging the company made **materially false and misleading statements**[198](index=198&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor has been added concerning the potential adverse impact of the SEC complaint and shareholder lawsuit - A new risk factor highlights that the SEC complaint and shareholder lawsuit could **divert management's focus**, result in **substantial litigation expense**, and an adverse outcome could **materially harm the business**, reputation, and stock price[201](index=201&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No shares were repurchased during the quarter, with approximately $6.8 million remaining under the buyback program - The company **did not repurchase any common stock** during the quarter; approximately **$6.8 million remains available** under the existing stock repurchase program[206](index=206&type=chunk) [Other Information](index=45&type=section&id=Item%205.%20Other%20Information) The company announced the upcoming separation of its Senior Vice President & General Counsel, Michael J. Stein - The company's Senior Vice President & General Counsel, Michael J. Stein, will **separate from the company**, with his employment ending on November 12, 2021[209](index=209&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including corporate documents, officer certifications, and XBRL data - Lists all exhibits filed with the quarterly report, including corporate charters, bylaws, officer certifications (Sections 302 and 906), and XBRL data[212](index=212&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _______________ Commission File Number 001-33937 Live Ventures Incorporated (Exact name of registrant as specified in its charter) (State or oth ...

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited condensed consolidated financial statements, including balance sheets, income, cash flows, and equity changes, with explanatory notes [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$190.6 million**, liabilities reduced to **$142.0 million**, and stockholders' equity increased to **$48.6 million** Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2020 (Unaudited) | Sep 30, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$190,564** | **$197,259** | | Total Current Assets | $91,166 | $95,928 | | Goodwill | $37,754 | $37,754 | | **Total Liabilities** | **$141,979** | **$153,587** | | Total Current Liabilities | $52,842 | $57,362 | | Long-term debt, net | $57,961 | $63,390 | | **Total Stockholders' Equity** | **$48,585** | **$43,672** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Revenues grew 48.7% to **$62.5 million**, operating income doubled to **$7.3 million**, and net income surged to **$5.4 million** Consolidated Income Statement Highlights (in thousands, except per share) | Metric | Three Months Ended Dec 31, 2020 | Three Months Ended Dec 31, 2019 | | :--- | :--- | :--- | | **Revenues** | **$62,454** | **$42,001** | | Gross Profit | $22,269 | $16,626 | | Operating Income | $7,291 | $3,487 | | **Net Income Attributable to Live Stockholders** | **$5,413** | **$547** | | Basic EPS | $3.45 | $0.30 | | Diluted EPS | $1.63 | $0.15 | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow increased to **$7.7 million**, investing cash outflow rose to **$3.3 million**, and financing cash outflow was **$6.2 million** Consolidated Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended Dec 31, 2020 | Three Months Ended Dec 31, 2019 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $7,668 | $2,999 | | Net Cash from Investing Activities | ($3,258) | ($645) | | Net Cash from Financing Activities | ($6,162) | ($3,533) | | **Net Change in Cash** | **($1,752)** | **($1,179)** | | Cash at End of Period | $7,232 | $1,502 | [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Details business segments, accounting policies, COVID-19 impact, long-term debt, related party transactions, and contingencies - The company operates through three segments: Retail (Vintage Stock, ApplianceSmart), Flooring Manufacturing (Marquis), and Steel Manufacturing (Precision Marshall)[20](index=20&type=chunk) - The COVID-19 pandemic continues to create uncertainty, with potential for future closures or adverse impacts on revenues, earnings, and cash flows despite all Vintage Stock retail locations reopening by June 30, 2020[23](index=23&type=chunk) - Total long-term debt decreased from **$82.4 million** at September 30, 2020, to **$75.5 million** at December 31, 2020[35](index=35&type=chunk) - The company and three executive officers received "Wells Notices" from the SEC Staff in August and October 2020, indicating a preliminary determination to recommend an enforcement action, which the company intends to vigorously defend[70](index=70&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Discusses financial performance, attributing 49% revenue growth to Flooring and Steel Manufacturing segments, covering liquidity and COVID-19 impact [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Total revenue increased 49% to **$62.5 million**, driven by Flooring and Steel Manufacturing, with operating income more than doubling Revenue by Segment (in thousands) | Segment | Q1 FY2021 Revenue | Q1 FY2020 Revenue | % Change | | :--- | :--- | :--- | :--- | | Retail | $22,370 | $21,488 | +4.1% | | Flooring Manufacturing | $30,222 | $20,367 | +48.4% | | Steel Manufacturing | $9,735 | $0 | N/A | | **Total Revenue** | **$62,454** | **$42,001** | **+48.7%** | - The increase in Flooring Manufacturing revenue was attributed to new product development and the acquisition of Lonesome Oak in January 2020[115](index=115&type=chunk) - The Steel Manufacturing segment's revenue is a new contribution following the acquisition of Precision Marshall in July 2020[116](index=116&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity was **$40.0 million**, with **$7.2 million** cash and **$32.8 million** available credit, supporting operations for 12 months - The company had total liquidity of **$40.0 million**, consisting of **$7.2 million** in cash and **$32.8 million** in available borrowing capacity as of December 31, 2020[133](index=133&type=chunk) - Net cash provided by operations increased to **$8.7 million** for the quarter, compared to **$3.0 million** for the same period in 2019, primarily due to higher net income[136](index=136&type=chunk) - The company utilizes three main asset-based revolver lines of credit with Texas Capital Bank, Bank of America, and Encina Business Credit for its subsidiaries[132](index=132&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company believes it is not subject to material market risks, including foreign currency or commodity price risk - The company does not believe it has material exposure to market risks, including foreign currency exchange risk or commodity price risk[149](index=149&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed ineffective due to material weaknesses in documentation and evaluation, with remediation planned - Management concluded that disclosure controls and procedures were not effective as of December 31, 2020[150](index=150&type=chunk) - Two material weaknesses were identified: a lack of written documentation for internal control policies and a lack of rigorous procedures for evaluating internal controls across all subsidiaries[154](index=154&type=chunk) - The company plans to remediate these weaknesses by documenting its internal control policies and developing an internal testing plan, with an expected conclusion during the fiscal year ending September 30, 2021[155](index=155&type=chunk) [PART II OTHER INFORMATION](index=31&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) No new material legal proceedings or developments in previously disclosed cases occurred during the quarter - There were no new material legal proceedings or material developments in previously disclosed proceedings during the quarter[159](index=159&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 33,926 common shares at an average price of **$10.98**, extending the **$10 million** repurchase plan Common Stock Repurchases (Q1 FY2021) | Period | Number of Shares Repurchased | Average Price Paid | | :--- | :--- | :--- | | October 2020 | 16,489 | $10.51 | | November 2020 | 11,029 | $11.27 | | December 2020 | 6,408 | $11.49 | | **Total** | **33,926** | **-** | - The Board of Directors approved an extension of the **$10 million** stock repurchase program from February 15, 2021, to June 1, 2021[161](index=161&type=chunk) [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the report, including CEO and CFO certifications and XBRL data files - The report includes CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[167](index=167&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2020 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from to Commission File Number: 001-33937 Live Ventures Incorporated (Exact Name of Registrant as Specified in Its Charter) | Nevada 85-0206668 | | | | --- | --- | --- | | (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _______________ Commission File Number 001-33937 Live Ventures Incorporated (Exact name of registrant as specified in its charter) (State or othe ...

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section presents the company's unaudited financial statements, management's analysis, market risk, and internal controls assessment [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements show asset growth and improved net income despite lower revenues for the period [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$158.5 million** due to acquisitions and new lease accounting, with a corresponding rise in liabilities Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 (Unaudited) | September 30, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $67,477 | $55,752 | | **Total Assets** | **$158,505** | **$122,453** | | **Total Current Liabilities** | $58,893 | $35,025 | | **Total Liabilities** | **$121,890** | **$88,324** | | **Total Stockholders' Equity** | **$36,615** | **$34,129** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net income significantly increased for both periods despite slightly lower revenues, driven by cost reductions and a lease settlement gain Income Statement Summary (in thousands, except per share) | Metric | Q2 2020 | Q2 2019 | 6 Months 2020 | 6 Months 2019 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $46,431 | $46,973 | $88,432 | $100,169 | | **Gross Profit** | $17,776 | $18,651 | $34,402 | $37,988 | | **Operating Income** | $3,068 | $2,046 | $6,555 | $4,137 | | **Net Income** | **$2,285** | **$473** | **$2,832** | **$2,004** | | **Diluted EPS** | **$0.66** | **$0.13** | **$0.81** | **$0.53** | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow slightly decreased, with significant cash used in investing and financing activities, leading to a net decrease in cash Six-Month Cash Flow Summary (in thousands) | Activity | Six Months Ended Mar 31, 2020 | Six Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $6,571 | $6,986 | | Net Cash from Investing Activities | ($2,412) | $3,347 | | Net Cash from Financing Activities | ($5,344) | ($9,783) | | **Net Change in Cash** | **($1,185)** | **$550** | | **Cash at End of Period** | **$1,496** | **$3,292** | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, business segments, and significant events, including acquisitions, COVID-19 impact, and a subsidiary's bankruptcy - The company's business strategy, initiated in fiscal 2015, is to acquire profitable companies in various industries. It currently operates **three segments**: Manufacturing (Marquis), Retail (Vintage Stock, ApplianceSmart), and Online and Services[23](index=23&type=chunk) - The COVID-19 pandemic led to the temporary closure of all Vintage Stock retail locations as of March 31, 2020, and rolling layoffs at Marquis, creating significant uncertainty for future revenues and cash flows[25](index=25&type=chunk) - On November 1, 2019, the company's subsidiary Marquis acquired Lonesome Oak Trading Co., Inc. for **$2.0 million**, resulting in **$631 thousand** of goodwill[75](index=75&type=chunk)[76](index=76&type=chunk) - On December 9, 2019, subsidiary ApplianceSmart, Inc. filed for Chapter 11 bankruptcy protection. The company continues to consolidate ApplianceSmart's financial results[153](index=153&type=chunk)[168](index=168&type=chunk)[171](index=171&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition and results, noting revenue decline offset by increased operating income from cost reductions, and assesses liquidity amidst COVID-19 uncertainty [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Net income significantly increased for both periods despite revenue declines, primarily due to reduced operating expenses and a lease settlement gain - For Q2 2020, a significant decrease in retail appliance revenue was offset by an increase in carpet and hard surface product revenue from the Lonesome Oak acquisition[194](index=194&type=chunk) - Operating income for Q2 2020 increased by **50%** to **$3.1 million**, primarily due to lower G&A and selling expenses from ApplianceSmart store closures and a **$1.4 million** net gain on lease settlement[197](index=197&type=chunk)[198](index=198&type=chunk)[199](index=199&type=chunk)[201](index=201&type=chunk) - For the six months ended March 31, 2020, revenue decreased by **12%** to **$88.4 million**, while operating income increased by **58%** to **$6.6 million**, driven by cost reductions at ApplianceSmart[206](index=206&type=chunk)[211](index=211&type=chunk) [Segment Performance](index=39&type=section&id=Segment%20Performance) Retail and Online segment revenue declined but operating income improved, while Manufacturing segment revenue and income grew from an acquisition Segment Operating Income (Loss) for the Three Months Ended March 31 (in thousands) | Segment | 2020 | 2019 | | :--- | :--- | :--- | | Retail & Online | $237 | ($129) | | Manufacturing | $2,698 | $2,021 | | Services | $132 | $154 | | **Total** | **$3,068** | **$2,046** | - The Retail and Online segment's revenue decreased by **28%** for the six-month period due to ApplianceSmart store closures, but operating income improved to **$1.2 million** from a loss of **$0.4 million** in the prior year[224](index=224&type=chunk) - The Manufacturing segment's revenue increased by **10%** for the six-month period, driven by the Lonesome Oak acquisition, leading to a higher operating income of **$5.1 million**[225](index=225&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained **$1.5 million** in cash and **$21.2 million** in available credit, securing additional financing post-quarter to enhance liquidity amidst COVID-19 Liquidity Position as of March 31, 2020 (in thousands) | Item | Amount | | :--- | :--- | | Cash on hand | $1,496 | | BofA Revolver Availability | $17,725 | | TCB Revolver Availability | $3,433 | - Subsequent to quarter-end, the Marquis subsidiary received a **$4.8 million** PPP loan under the CARES Act[173](index=173&type=chunk)[229](index=229&type=chunk) - On April 9, 2020, the company secured a new **$1.0 million** unsecured revolving credit facility from Isaac Capital Group, LLC, a related party[172](index=172&type=chunk)[230](index=230&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company reports no material exposure to market risks, including foreign currency exchange or commodity price fluctuations - The company reports no material exposure to market risks, including foreign currency or commodity price fluctuations[245](index=245&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective due to identified material weaknesses in internal control over financial reporting - Management concluded that disclosure controls and procedures were not effective as of March 31, 2020[246](index=246&type=chunk) - Identified material weaknesses include: insufficient segregation of duties, lack of written documentation of internal control policies, and inadequate procedures for evaluating internal controls[250](index=250&type=chunk)[252](index=252&type=chunk) [PART II OTHER INFORMATION](index=45&type=section&id=PART%20II%20OTHER%20INFORMATION) This section provides disclosures on legal proceedings, equity sales, and other miscellaneous information, including exhibits [Legal Proceedings](index=45&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to previously filed reports for information regarding material pending legal proceedings - For details on legal proceedings, the company refers to previously filed reports[254](index=254&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, the company is not required to provide risk factor disclosures in this report - The company is a smaller reporting company and is not required to provide risk factor disclosures in its Form 10-Q[255](index=255&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **64,868** shares for **$416,000** under its **$10 million** stock repurchase program, with **$8.1 million** remaining available Common Stock Repurchases (Q2 2020) | Period | Number of Shares Repurchased | Average Price Paid | | :--- | :--- | :--- | | January 2020 | 21,757 | $7.65 | | February 2020 | 16,956 | $6.26 | | March 2020 | 26,155 | $5.29 | | **Total** | **64,868** | **-** | [Defaults upon Senior Securities](index=45&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[257](index=257&type=chunk) [Mine Safety Disclosures](index=45&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reported no mine safety disclosures - None[258](index=258&type=chunk) [Other Information](index=45&type=section&id=Item%205.%20Other%20Information) The company reported no other information - None[259](index=259&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with or incorporated by reference into the Quarterly Report, including certifications [Signatures](index=47&type=section&id=SIGNATURES) This section contains the required signatures for the quarterly report

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2019 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from to Commission File Number: 001-33937 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ In ...

Live Ventures Incorporated (NASDAQ:LIVE) Q3 2019 Earnings Conference Call August 14, 2019 4:30 PM ET Company Participants Virland Johnson - CFO Jon Isaac - CEO Operator Good day, everyone, and welcome to today's call. All participants are currently in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. Please note today's call will be recorded and I will be standing by should you need any assistance. It is now my pleasure to turn today’s program ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _______________ Commission File Number 001-33937 Live Ventures Incorporated (Exact name of registrant as specified in its charter) Table of Conte ...

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $46.9 million, representing a decrease of 10% over the same period last fiscal year [8] - Gross profit for the quarter was $18.6 million, down 5.1% year-over-year, with a gross profit percentage increase to 39.7% [9][10] - Operating income was $2 million compared to $4.1 million in the same period last fiscal year, and net income was $0.473 million compared to $1.9 million [9] - Interest expense decreased to $1.5 million from $1.8 million due to debt paydown and refinancing [12] - As of March 31, 2019, the company reported approximately $3.3 million in cash and $13.9 million in available credit [13] Business Line Data and Key Metrics Changes - ApplianceSmart's operational performance has lagged, but management believes it is beginning to turn around [11] - The company has consolidated underperforming stores, focusing on more profitable out-of-box products [18][19] - Marquis Industries reported a gross profit increase of 15% through Q1 and 17% overall for the first half of the year, with a shift away from low-margin synthetic turf [23][25] Market Data and Key Metrics Changes - The majority of the revenue decline was attributed to ApplianceSmart, which accounted for over 90% of the decrease from $52 million to $46 million [26][27] - The hard surface flooring category for Marquis Industries is up 26% year-over-year, despite tariff challenges [25] Company Strategy and Development Direction - The company aims to focus on a smaller, more profitable business model rather than a larger one with suboptimal performance [20][26] - Management is actively looking for acquisition opportunities while also buying back shares due to the stock trading at a low valuation [30][31] - The company is committed to reducing higher-cost debt, with significant paydowns planned [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by tariffs on new appliances but is optimistic about the profitability of out-of-box products [44] - The company is focused on improving margins and operational efficiency, particularly in the ApplianceSmart division [11][18] Other Important Information - The company has reduced total liabilities by approximately $12 million over the past few months [36] - Stockholders' equity increased to $41.2 million, with a book value of $21.59 per common share [13][34] Q&A Session Summary Question: Can you provide insights on ApplianceSmart's turnaround? - Management noted that margins are improving due to a focus on out-of-box products and expense reductions, with store consolidations contributing to optimism [18] Question: How does the company view share buybacks versus acquisitions? - The company is actively buying back shares while also exploring acquisition opportunities, emphasizing efficient capital allocation [30] Question: What is the impact of tariffs on the appliance business? - Management is aware of the tariff impacts and is focusing on out-of-box products, which are more profitable and better positioned for customer demand [44]