Business
LiveWorld Resumes Auditing of Its Financials
LiveWorld Resumes Auditing of Its Financials.
About this update from Liveworld, Inc.
[{"type":"text","content":"Los Gatos, Calif., (June 20, 2006)): LiveWorld, Inc. (Pinksheets: LVWD.PK) (www.liveworld.com), a leading online community marketing services agency, today announced that it has formally resumed auditing of its financials. Stonefield Josephson, the Company's auditor of record, has commenced work to review and audit financials for recent years as well as for 2006.\r\n\r\n\"Our growth, proven business model and momentum has reached a point appropriate to resume auditing,\" said Peter Friedman, Chairman and CEO of LiveWorld. \"We have always maintained rigorous and conservative financial management whether audited or not and hence this is a straightforward transition.\"\r\n\r\nLiveWorld was founded in 1996, went public on the NASDAQ in 1999 under the name Talk City (ticker TCTY). In 2001, the Company sold the Talk City web site to concentrate on its primary business; private label community and social networking services for Fortune 1000 companies. In May 2001, the Company changed its name back to LiveWorld and moved to the OTC Bulletin Board. The Company transitioned to the Pink Sheets (ticker: LVWD.PK) in 2002 as part of its aggressive cost reduction strategy, including reducing third-party services such as auditing and the filing of SEC reports.\r\n\r\nThe Company expects to begin releasing audited financials as of its reports for the third quarter of 2006.\r\n\r\nStonefield Josephson, the Company's auditor at the time of its last SEC filing in November 2002, and the Company's tax firm, continues now as the auditor.\r\n\r\nAbout LiveWorld, Inc.\r\nLiveWorld (Pinksheets: LVWD.PK, www.liveworld.com) is a leading full-service online community agency that creates, operates, and manages loyalty marketing, customer support, and business intelligence communities based on the company's unique community applications platform and strategic community model. LiveWorld solutions enable Fortune 1000 companies to strengthen customer relationships, increase revenues, and reduce costs. Clients include companies such as America Online, A&E Television Networks, AOL UK, BEA Systems, eBay, The Campbell Soup Company, Discovery Communications, Dove, HBO, Intel, Intuit Inc., MINI Cooper USA, QVC, Tulane University and TV Guide. LiveWorld is headquartered in Los Gatos, California and deploys its services in over 30 country-language combinations.\r\n\r\n...