Live Current Media Inc. Reports Net Loss of $15.7 Million in 2022

Live Current Media Inc(LIVC)., a leading media company, has released its consolidated financial statements for the year ended December 31, 2022. The company reported a net loss of $15.7 million, reflecting challenging market conditions and increased expenses. However, Live Current Media Inc. managed to generate $488,018 in revenue during the same period, demonstrating its ability to maintain a steady stream of income. Let's take a closer look at the financial data provided.

Current Assets and Liabilities:

Live Current Media Inc. reported total current assets of $373,095 for the year 2022, a significant increase from $19,311 in 2021. The company's current assets primarily consisted of cash ($169,551), accounts receivable ($112,676), and prepaid expenses and other current assets ($90,868).

On the liabilities side, the company's total current liabilities amounted to $1,932,838 in 2022, compared to $962,990 in the previous year. These liabilities included accounts payable ($952,278), accrued expenses ($344,118), accrued rent payable ($160,000), deferred revenue ($56,466), financing arrangements - advances on future receipts ($369,976), secured promissory notes ($50,000), secured promissory notes - related parties ($8,000), and operating lease liability ($0).