LiveOne, Inc. Announces Results of Annual Stockholders Meeting - Latest Updates on Executive Compensation, Board of Directors, and Financial Performance
In a recent SEC filing, LiveOne, Inc., a leading company in the retail eating places sector, shared the outcomes of its Annual Meeting of Stockholders held on September 12, 2024. The filing, dated September 18, 2024, disclosed the election of eight board members, approval of executive compensation, ratification of the independent auditor, and authorization to adjourn the meeting if necessary.
All eight nominees for the board of directors were successfully elected, with Robert S. Ellin receiving the highest number of votes in favor. The compensation of named executive officers was approved on a non-binding advisory basis with a significant majority.
The appointment of Macias Gini & O’Connell, LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2025, was ratified with an overwhelming majority. Stockholders also approved the proposal to adjourn the Annual Meeting to a later date if needed for further solicitation and proxy voting.
LiveOne, formerly known as LiveXLive Media, Inc., and previously as LOTON, CORP, is headquartered in Beverly Hills, California, and is listed on The NASDAQ Capital Market under the trading symbol LVO.
In other developments, LiveOne has raised its subscription plan prices to support product innovation and enriched content experiences. The company has also extended the maturity date for its promissory note and formed a partnership with TextNow to enhance digital lifestyles.
Financially, LiveOne reported strong growth in its Audio Division for Q1 fiscal 2025, with record revenues and adjusted EBITDA. Despite a consolidated net loss, the company forecasts robust revenues and EBITDA for the upcoming fiscal year.
Furthermore, LiveOne is expanding its B2B partnerships, membership base, and stock buyback program, with plans to close deals with companies of various market caps by year-end.
In conclusion, LiveOne's recent announcements and financial performance showcase its commitment to growth and innovation in the competitive retail and entertainment sectors. Investors and stakeholders should keep an eye on the company's strategic moves and financial results as they can impact investment decisions and financial portfolios.