JKS Stock
JKS Stock

LiveOne, Inc. (LVO) stock surged 14.60% in the pre-market trading session at the price of $1.57 after entering into a binding Letter of Intent with Trader2B. LVO, based in Los Angeles, California, is an interactive sport, music, and recreation subscription platform. The company delivers live streams and premium content from top artists.

LVO Signed Binding Letter of Intent

On 28th December 2021, LVO reported entering into a binding Letter of Intent with Trader2B. As per the contract, the company had licensed to use Trader2b’s technology in all music types to gamify user experience and LiveOne’s platform. LiveOne also has an option to buy Trader2b’s assets and operations within 180 days following the release of its gamified platform. This offered purchase option is the 8th acquisition for LiveOne. The transaction is subject to customary closing conditions.

Management Comments

Chief executive officer of LiveOne, Robert Ellin, remarked that they are pleased to gamify LVO by offering their huge audience a chance to win $1M in prizes. This unique platform will provide its customers LiveOne memberships and other opportunities. It will keep members notified about the latest concerts, artists, events, and industry news.

Chief executive officer of Trader2B, Makram Kebti, commented that he is delighted to collaborate with LVO to design an educational and recreational platform. Trader2B has delivered training to thousands of individuals in the previous few years. They will share their technology to grow LiveOne’s membership platform while offering content and focusing on music stocks.

LVO Updated Financial Guidance

On 20th December 2021, LVO published that it is executing further consolidation amounting to $14 million in expense deductions and annual cost. The company has also updated and published its financial guidance for the fiscal year ending 31st March 2022.

LVO expects revenue to range from $110 million to $112 million for fiscal 2022. Adjusted EBITDA had expected to be ($8 Million) for the fiscal ending 31st March 2021. For fiscal 2023, LVO expects revenue to range from $120 million to $140 Million. Adjusted EBITDA had expected to be from $2 Million to $8 Million for fiscal 2023.

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