Can Cricket Save A Canadian Media Company?

That’s the question on the minds of investors when it comes to Canadian media company Live Current who owns and operates the growing Cricket.com portal which is devoted to all things, you guessed it, cricket related. Live Current’s stock price has taken a beating in recent months and the company’s cash position is now in question pending the announcement that they are putting 6 of their premium domain name assets up for sale in an effort to raise operating capital to the tune of $6-10 million.

The key to Live Current’s survival, in addition to maintaining and growing their Perfume.com fragrance portal is to turn their Cricket.com destination site into a cash machine through various licensing deals, premium content offerings and advertising sales. With the best name in the cricket business, one would think they would be in a great position to deliver, but the overall economic downturn couldn’t have come at a worse time for a company that bet so much of their market value on developing one property.

Live Current CEO, Geoffrey Hampson remains upbeat about their proactive moves to solidify cash flow:

“This financing, in addition to the expected proceeds of the previously announced sale of up to six non-core domain names, is consistent with management’s strategy to ensure that sufficient cash resources are available to meet our obligations through the end of 2009 while minimizing dilution for existing investors.”

Let’s hope Live Current can score a double hat trick with their Cricket.com and Perfume.com businesses and continue to ride out this turbulent wave of financial uncertainty.

Related News:
Live Current Media Raises Much Needed Cash
Stock Chart: Live Current Media – OTC:LIVC

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