Live Ventures (LIVE) 10-Q 16 May 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2016	May. 10, 2016
OptionsToPurchaseSharesOfCommonStockMember
Entity Registrant Name	LIVE VENTURES Inc
Entity Central Index Key	1,045,742
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		16,862,450
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Assets
Cash and cash equivalents	$ 3,421,123	$ 2,727,818
Accounts receivable, net	9,388,592	8,243,992
Inventories, net	12,455,001	13,335,598
Prepaid expenses and other current assets	1,105,122	1,522,027
Total current assets	26,369,838	25,829,435
Property and equipment, net	11,659,948	12,481,901
Deposits and other assets	30,497	36,090
Intangible assets, net	1,401,069	1,516,930
Goodwill	800,000	800,000
Total assets	40,261,352	40,664,356
Liabilities:
Accounts payable	7,030,412	5,536,796
Accrued liabilities	3,336,427	3,660,949
Income tax payable	0	376,000
Note payable	1,452,388	1,443,036
Total current liabilities	11,819,227	11,016,781
Notes payable, net of current portion	14,896,822	14,568,190
Note payable, related party	5,650,259	6,495,825
Contingent consideration from business combination	0	316,000
Total Liabilities	$ 32,366,308	$ 32,396,796
Commitments and contingencies
Stockholders' equity:
Series E convertible preferred stock, $0.001 par value, 200,000 shares authorized, 127,840 shares issued and outstanding at March 31, 2016 and September 30, 2015, liquidation preference $38,203	$ 10,866	$ 10,866
Common stock, $0.001 par value, 30,000,000 shares authorized, 16,912,707 shares issued and 16,859,197 shares outstanding at March 31, 2016; 16,903,014 shares issued and 16,903,014 shares outstanding at September 30, 2015	16,918	16,908
Paid in capital	53,218,858	52,950,945
Treasury stock (53,510 shares)	(80,292)	0
Accumulated deficit	(45,271,306)	(46,665,003)
Total Live Ventures stockholders' equity	7,895,044	6,313,716
Noncontrolling interest	0	1,953,844
Total equity	7,895,044	8,267,560
Total liabilities and equity	$ 40,261,352	$ 40,664,356

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Stockholders' equity:
Series E convertible preferred stock, par value	$ 0.001	$ 0.001
Series E convertible preferred stock, shares authorized	200,000	200,000
Series E convertible preferred stock, issued	127,840	127,840
Series E convertible preferred stock, outstanding	127,840	127,840
Series E convertible preferred stock, liquidation preference	$ 38,203	$ 38,203
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	16,912,707	16,903,014
Common stock, shares outstanding	16,859,197	16,903,014
Treasury stock, shares	53,510

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 19,839,923	$ 4,263,979	$ 39,944,357	$ 12,271,031
Cost of revenues	14,233,724	2,328,883	27,928,283	7,098,979
Gross profit	5,606,199	1,935,096	12,016,074	5,172,052
Operating expenses:
General and administrative expenses	2,158,398	1,570,731	4,524,271	3,488,099
Sales and marketing expenses	2,249,323	1,453,705	5,246,073	3,641,182
Total operating expenses	4,407,721	3,024,436	9,770,344	7,129,281
Operating income (loss)	1,198,478	(1,089,340)	2,245,730	(1,957,229)
Other expense:
Interest expense, net	(334,986)	(5,314)	(680,469)	(4,196,944)
Other income	355,016	(566)	367,569	27,939
Gain on deriative liability	0	0	0	83,580
Total other expense, net	20,030	(5,880)	(312,900)	(4,085,425)
Income (loss) before provision for income taxes	1,218,508	(1,095,220)	1,932,830	(6,042,654)
Provision for income taxes	0	0	413,980	0
Net income (loss)	1,218,508	(1,095,220)	1,518,850	(6,042,654)
Net income attributed to noncontrolling interest	0	0	124,194	0
Net income (loss) attributed to Live Ventures Incorporated	$ 1,218,508	$ (1,095,220)	$ 1,394,656	$ (6,042,654)
Earnings (loss) per share - basic	$ .07	$ (.07)	$ .08	$ (.39)
Earnings (loss) per share - diluted	$ .06	$ (.07)	$ .07	$ (.39)
Weighted average common shares outstanding - basic	16,895,709	16,045,823	16,900,429	15,573,357
Weighted average common shares outstanding - diluted	18,954,589	16,045,823	19,099,057	15,573,357

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ 1,518,850	$ (6,042,654)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,061,018	332,147
Non-cash interest expense associated with convertible debt and warrants	9,352	2,191,273
Non-cash interest expense associated with loan fees	0	2,004,202
Non-cash change in fair value of derivative liability	0	(83,580)
Stock based compensation expense	174,885	48,399
Non-cash issuance of common stock for services	15,000	89,627
Provision for uncollectible accounts	(2,326)	1,767
Reserve for obsolete inventory	(68,250)	194,636
Change in contingent liability	(316,000)	0
Changes in assets and liabilities:
Accounts receivable	(1,142,274)	(16,924)
Prepaid expenses and other current assets	416,905	220,624
Inventories	948,847	1,254,837
Deposits and other assets	5,593	361
Accounts payable	1,493,616	(1,112,728)
Accrued liabilities	(325,481)	(24,612)
Income tax payable	(376,000)	0
Net cash provided by (used in) operating activities	3,413,735	(942,625)
INVESTING ACTIVITIES:
Expenditures for intangible assets	0	(37,047)
Purchases of property and equipment	(123,204)	(33,157)
Net cash used in investing activities	(123,204)	(70,204)
FINANCING ACTIVITIES:
Net borrowings under revolver loans	806,304	0
Issuance of common stock for cash, net of issuance costs	0	538,441
Payments on notes payable	(477,672)	(551,112)
Payments on notes payable, related party	(845,566)	0
Purchase of treasury stock	(80,292)	0
Payment for the purchase of the noncontrolling interest	(2,000,000)	0
Proceeds from issuance of convertible debt	0	100,000
Net cash provided by (used in) financing activities	(2,597,226)	87,329
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	693,305	(925,500)
CASH AND CASH EQUIVALENTS, beginning of period	2,727,818
CASH AND CASH EQUIVALENTS, end of period	3,421,123	7,189,182
Supplemental cash flow disclosures:
Interest paid	680,469	16,612
Income taxes paid	790,000	0
Noncash financing and investing activities:
Recognition of contingent beneficial conversion feature	0	100,000
Conversion of notes payable and accrued interest into common stock	0	635,756
Accrued and unpaid dividends	480	962
Note payable issued for purchase of noncontrolling interest	$ 500,000	$ 0

1. Organization and Basis of Pr

1. Organization and Basis of Presentation	6 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	The accompanying consolidated financial statements include the accounts of Live Ventures, Incorporated, a Nevada corporation, and its subsidiaries (collectively the “Company”). The Company is a holding company for diversified businesses. The Company promoted online marketing solutions to small and medium businesses to help them boost customer awareness, gain visibility and manage their online presence. The Company also offered affordable acquisition services to the small businesses through the Instant Agency suite of products and services. The Company continues to actively develop, revise and evaluate its products, services and its marketing strategies in its businesses. Under the Live Ventures brand the Company seeks opportunities to acquire profitable and well-managed companies. The Company believes that with the proper positioning and its investment capital these companies can become very profitable. W ith its recent acquisition of Marquis Industries, Inc., the Company became engaged in the manufacture and sale of carpet and the sale of vinyl and wood floorcoverings. Effective October 7, 2015, the Company changed its corporate name from LiveDeal, Inc. to Live Ventures, Incorporated. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for audited financial statements. In the opinion of the Company’s management, this interim information includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results of operations for the six months ended March 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2016. The accompanying note disclosures related to the interim financial information included herein are also unaudited. This financial information should be read in conjunction with the consolidated financial statements and related notes thereto as of September 30, 2015 and for the fiscal year then ended included in the Company’s Annual Report on Form 10-K filed with the SEC on January 13, 2016. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Significant estimates and assumptions have been made by management throughout the preparation of the condensed consolidated financial statements, including in conjunction with establishing allowances for customer refunds, non-paying customers, dilution and fees, analyzing the recoverability of the carrying amount of intangible assets, evaluating the merits of pending litigation, estimating forfeitures of stock-based compensation, valuing beneficial conversion features in convertible debt, and evaluating the recoverability of deferred tax assets. Actual results could differ from these estimates. All data for common stock, options and warrants have been adjusted to reflect the 3-for-1 forward stock split (which took effect on February 11, 2014) for all periods presented. In addition, all common stock prices, and per share data for all periods presented have been adjusted to reflect the 3-for-1 forward stock split.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Principles of Consolidation The accompanying consolidated financial statements represent the consolidated financial position and results of operations of the Company and its subsidiaries as follows: Percentage Company Owned Parent Telco Billing, Inc. 100% Live Ventures Incorporated Velocity Marketing Concepts, Inc. 100% Live Ventures Incorporated Velocity Local, Inc. 100% Live Ventures Incorporated Modern Everyday, Inc. 100% Live Ventures Incorporated Modern Everyday, LLC 100% Modern Everyday, Inc. Super Nova, LLC 100% Modern Everyday, Inc. Live Goods, LLC 100% Live Ventures Incorporated Marquis Affiliated Holdings, LLC* 100% Live Ventures Incorporated Marquis Industries, Inc. 100% Marquis Affiliated Holdings, LLC A-O Industries, LLC 100% Marquis Industries, Inc. Astro Carpet Mills, LLC 100% Marquis Industries, Inc. Constellation Industries, LLC 100% Marquis Industries, Inc. S F Commercial Properties, LLC 100% Marquis Industries, Inc. The results of operations for Marquis Industries, Inc. have only been included since the date of acquisition of July 6, 2015. All intercompany transactions and balances have been eliminated in consolidation. * Effective November 30, 2015, the Company acquired the remaining 20% interest. Noncontrolling Interest On July 6, 2015, the Company, through MAH, acquired 80% interest in Marquis Industries, Inc. The transaction was accounted for under the acquisition method of accounting, with the purchase price allocated based on the fair value of the individual assets acquired and liabilities assumed. The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “ Consolidation The net income attributed to the NCI is separately designated in the accompanying consolidated statements of operations. Losses attributable to the NCI in a subsidiary may exceed the NCI’s interests in the subsidiary’s equity. The excess attributable to the NCI is attributed to those interests. The NCI shall continue to attribute its share of losses even if that attribution results in a deficit NCI balance. Effective November 30, 2015, the Company purchased the remaining 20% interest in Marquis for $2,000,000. In accordance with ASC 810, the excess of the noncontrolling interest at November 30, 2015 over the $2,000,000 purchase price of $78,038 has been recorded directly to additional paid in capital. Inventories Inventories are valued at the lower of the inventory’s cost (first in, first out basis) or the current market price of the inventory. Management compares the cost of inventory with its market value and an allowance is made to write down inventory to market value, if lower. At March 31, 2016 and September 30, 2015, the allowance for obsolete inventory was $334,028 and $402,278, respectively. Revenue Recognition Directory Services Revenue is billed and recognized monthly for services subscribed in that specific month. The Company has historically utilized outside billing companies to perform billing services through direct ACH withdrawals. For billings via ACH withdrawals, revenue is recognized when such billings are accepted. For billings via LECs, the Company recognizes revenue based on net billings accepted by the LECs. Due to the periods of time for which adjustments may be reported by the LECs and the billing companies, the Company estimates and accrues for dilution and fees reported subsequent to year-end for initial billings related to services provided for periods within the fiscal year. Such dilution and fees are reported in cost of services in the accompanying consolidated statements of operations. Customer refunds are recorded as an offset to gross revenue. Revenue for billings to certain customers that are billed directly by the Company and not through the outside billing companies is recognized based on estimated future collections which is reasonably assured. The Company continuously reviews this estimate for reasonableness based on its collection experience. Deals Revenue The Company recognizes revenue from its sales through its strategic publishing partners of discounted goods and services offered by its merchant clients (“Deals”) when the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred; the selling price is fixed or determinable; and collectability is reasonably assured. These criteria are met when the number of customers who purchase the daily deal exceeds the predetermined threshold, where, if applicable, the Deal has been electronically delivered to the purchaser and a listing of Deals sold has been made available to the merchant. At that time, the Company's obligations to the merchant, for which it is serving as an agent, are substantially complete. The Company's remaining obligations, which are limited to remitting payment to the merchant, are inconsequential or perfunctory. The Company records as revenue an amount equal to the net amount it retains from the sale of Deals after paying an agreed upon percentage of the purchase price to the featured merchant excluding any applicable taxes. Revenue is recorded on a net basis because the Company is acting as an agent of the merchant in the transaction. Deferred Revenue In some instances, the Company receives payments in advance of rendering services, whereupon such revenues are deferred until the related services are rendered. There is no deferred revenue as of March 31, 2016 and September 30, 2015. Product Revenue The Company derives product revenue primarily from direct revenue and fulfillment partner revenue from product sales. Product revenue is recognized when the following revenue recognition criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or the service has been provided; (3) the selling price or fee revenue earned is fixed or determinable; and (4) collection of the resulting receivable is reasonably assured. The Company evaluates the criteria outlined in ASC Topic 605-45, Principal Agent Considerations Manufacturing Revenue Revenues from the sale of carpet products, including shipping and handling amounts, are recognized when the following criteria are met: there is persuasive evidence that a sales agreement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title to the goods and assumes the risks and rewards of ownership, which is generally on the date of shipment. At the time revenue is recognized, the Company records a provision for the estimated amount of future returns based primarily on historical experience and any known trends or conditions that exist at the time revenue is recognized. Revenues are recorded net of taxes collected from customers. Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be provided for those deferred tax assets for which if it is more likely than not that the related benefit will not be realized. The Company classifies tax-related penalties and interest as a component of income tax expense for financial statement presentation. For the period from October 1, 2015 to November 30, 2015, Marquis Industries, Inc. and subsidiaries is required to file a separate income tax return, and therefore, the income generated by these subsidiaries cannot be offset against the Company’s net operating losses. Segment Reporting ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has three reportable segments (See Note 15). Derivative Financial Instruments The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses a weighted average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of March 31, 2016 and September 30, 2015, the Company had no financial instruments with derivative feature. Recently Issued Accounting Pronouncements No accounting standards or interpretations issued recently are expected to a have a material impact on our consolidated financial position, operations or cash flows.

3. Balance Sheet Information

3. Balance Sheet Information	6 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Information	Balance sheet information is as follows: March 31, September 30, 2016 2015 Receivables, current, net: Accounts receivable, current $ 10,149,401 $ 9,007,127 Less: Allowance for doubtful accounts (760,809 ) (763,135 ) $ 9,388,592 $ 8,243,992 Receivables, long term, net: Accounts receivable, long term $ 344,572 $ 344,572 Less: Allowance for doubtful accounts (344,572 ) (344,572 ) $ – $ – Total receivables, net: Gross receivables $ 10,493,973 $ 9,351,699 Less: Allowance for doubtful accounts (1,105,381 ) (1,107,707 ) $ 9,388,592 $ 8,243,992 Components of allowance for doubtful accounts are as follows: Allowance for dilution and fees on amounts due from billing aggregators $ 1,063,618 $ 1,063,617 Allowance for customer refunds 1,508 1,715 Allowance for other trade receivables 40,255 42,375 $ 1,105,381 $ 1,107,707 Inventory Raw materials $ 6,801,295 $ 6,715,298 Work in progress 768,179 836,837 Finished goods 5,219,555 6,185,741 12,789,029 13,737,876 Less: Obsolescence reserve (334,028 ) (402,278 ) $ 12,455,001 $ 13,335,598 Property and equipment, net: Land and improvements $ 688,000 $ 687,999 Building and improvements 4,202,000 4,202,000 Transportation equipment 77,419 77,419 Machinery and equipment 7,764,360 7,676,561 Furnishings and fixtures 211,700 211,701 Office, computer equipment and other 250,079 244,674 13,193,558 13,100,354 Less: Accumulated depreciation (1,533,610 ) (618,453 ) $ 11,659,948 $ 12,481,901 Intangible assets, net: Domain name and marketing related intangibles $ 18,957 $ 18,957 Website and technology related intangibles 25,300 25,300 Purchased software 1,500,000 1,500,000 1,544,257 1,544,257 Less: Accumulated amortization (143,188 ) (27,327 ) $ 1,401,069 $ 1,516,930 Accrued liabilities: Accrued payroll and bonuses $ 713,778 $ 731,782 Deferred revenue 243,082 243,082 Accrued software costs 1,500,000 1,500,000 Accrued expenses - other 879,567 1,186,085 $ 3,336,427 $ 3,660,949

4. Intangible Assets

4. Intangible Assets	6 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	During the year ended September 30, 2015, the Company purchased software for $1,500,000. This software is being amortized over 84 months which is the term that the software is expected to produce revenue. The Company has the option to pay for the software in cash or in 800,000 shares of the Company’s common stock. The Company has until June 30, 2016 to pay for the software either in cash or common stock. At March 31, 2016, the Company had not made any payments towards the purchase of this software and has reflected the $1,500,000 purchase price for the software in accrued liabilities in the accompanying condensed consolidated balance sheet. The following summarizes estimated future amortization expense related to intangible assets for the twelve month periods ending March 31: 2017 $ 222,971 2018 215,504 2019 214,286 2020 214,286 2021 214,286 Thereafter 319,736 $ 1,401,069 Total amortization expense related to intangible assets was $115,861 and $299,423 for the six months ended March 31, 2016 and 2015, respectively.

5. Notes Payable

5. Notes Payable	6 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Notes Payable	Revolver Loan and Term Loan In connection with the purchase of Marquis Industries Inc., the Company entered into an agreement with Bank of America for a Term and Revolving Loan for approximately $7.8 million for the term component and approximately $15 million for the revolving component. As part of the Bank of America Revolving Loan, Marquis Industries may borrow up to $15 million (based on eligibility). The Bank of America term loan bears interest at a variable rate based on a base rate plus a margin. The current base rate is the greater of (a) Bank of America prime rate, (b) the current federal funds rate plus 0.50%, or (c) 30-day LIBOR plus 1.00% plus the margin, which varies, depending on the fixed coverage ratio table below. Levels I – IV which determine the interest rate to be charge is based on the fixed charge coverage ratio. Fixed Coverage Ratio Table Level Fixed Charge Coverage Ratio Base Rate Revolver Loan LIBOR Revolver Loans Base Rate Term Loans LIBOR Term Loans I >2.00 to 1.00 0.50% 1.50% 0.75% 1.75% II < 0.75% 1.75% 1.00% 2.00% III < 1.00% 2.00% 1.25% 2.25% IV < 1.25% 2.25% 1.50% 2.5% The loans are cross-collateralized with substantially all real and personal property of Marquis Industries, Inc. As of March 31, 2016, the Company was at Level II with the fixed coverage ratio. Monthly payments to Bank of America are approximately $79,000 plus accrued interest. The term component is due and payable in July 2020, which is when the revolving component terminates. The loans contain certain covenants that require, among other things, for the Company to maintain a fixed charge coverage ratio of at least 1.05 to 1. Since the loan was obtained on July 6, 2015, the Company still has until July 5, 2016 to be in compliance with this ratio. ICG Convertible Note Transaction On January 23, 2014, the Company issued a note to Isaac Capital Group (“ICG”), a related party, in the principal amount of $500,000. Because the conversion price of $2.29 was less than the stock price, this gave rise to a beneficial conversion feature valued at $500,000. The Company recognized this beneficial conversion feature as a debt discount and additional paid in capital. The debt discount is being amortized over the one year term. On December 3, 2014, ICG converted the note into 674,370 shares of common stock, therefore the remaining debt discount of $158,219 was written off and recognized as interest expense. In addition, upon the conversion of note, the Company issued to ICG a warrant to acquire 674,370 additional shares of the Company’s common stock at an exercise price of $0.95 per share. The fair value of the warrants issued in connection with the conversion of note was $1,853,473 and was immediately recognized as interest expense. Kingston Convertible Note Transaction ($10 Million Line of Credit) On January 7, 2014, the Company entered into a Note Purchase Agreement (the “Kingston Purchase Agreement”) with Kingston Diversified Holdings LLC (“Kingston”), pursuant to which the Investor agreed to purchase for cash up to $5,000,000 in aggregate principal amount of the Company’s Convertible Notes (“Notes”). The Kingston Purchase Agreement and the Notes, which are unsecured, provide that all amounts payable by the Company to Kingston under the Notes will be due and payable on the second (2nd) anniversary of the date of the Kingston Purchase Agreement (the “Maturity Date”). The Kingston Purchase Agreement provides for a 5% discount to the note amount, interest at 8% per annum and convertible into shares of the Company’s common stock equal to 70% of the lesser of: (i) the closing bid price of the common stock on the date of the Kingston Purchase Agreement (i.e., $3.12 per share); or (ii) the 10-day volume weighted average closing bid price for the common stock, as listed on NASDAQ for the 10 business days immediately preceding the date of conversion (the “Average Price”); provided, however, that in no event will the Average Price per share be less than $0.33. On October 29, 2014, the Company entered into an amended convertible note purchase agreement with Kingston whereby the Company and Kinston agreed to (i) i ncrease the maximum principal amount of the notes from $5 million to $10 million in principal amount, (ii) eliminate the original issue discount provision of the agreement and replaces it with an execution payment equal to 5% of the maximum loan amount, and (iii) provides certain additional adjustments to the note conversion price. On October 16, 2014, the Company issued a Note to Kingston in the principal amount of $100,000. Because the conversion price of $0.79 was less than the stock price on the date of issuance, this gave rise to a beneficial conversion feature valued at $100,000. The Company recognized this beneficial conversion feature as a debt discount and additional paid in capital. The debt discount is being amortized over the one year term. On November 17, 2014, Kingston converted the note into 127,008 shares of common stock, therefore the debt discount of $100,000 was written off and recognized as interest expense. In addition, as a result of the October 29, 2014 amendment, the Company was required to issue to Kingston, the original issue discount payment equal to 5% of the maximum loan in shares of the Company’s common stock based upon the conversion price of the first conversion which was $0.79 per shares. The Company issued 630,252 shares of common stock that had a fair value of $2,004,202 which Credit line In connection with the purchase of Modern Everyday, Inc., the Company assumed a credit line from a bank. The credit line is collateralized by all the assets of Modern Everyday, Inc., accrues interest at prime plus 2% and is due on January 1, 2024. Notes payable as of March 31, 2016 and September 30, 2015 consisted of the following: March 31, September 30, 2016 2015 Base Rate Revolver Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above), maturity date July 6, 2020 $ 8,042,995 $ 7,225,745 Base Rate Term Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above) fixed coverage ratio, maturity date July 6, 2020 7,150,766 7,628,438 Note payable to individual, payable on demand, interest at 10.0% per annum, unsecured 97,044 92,441 Acquisition note payable, $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed at 2.87% per annum (1) 400,000 395,251 Credit line due January 1, 2024, with interest rate of 2.75% 658,405 669,351 Total Debt 16,349,210 16,011,226 Current portion 1,452,388 1,443,036 Long-term portion $ 14,896,822 $ 14,568,190 (1) per an agreement with the noteholder, $350,000 was paid on May 11, 2016 and the remaining balance of $50,000 will be paid on September 6, 2016.

6. Note Payable, Related Party

6. Note Payable, Related Party	6 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Note Payable, Related Party	In connection with the purchase of Marquis Industries Inc., the Company entered into a mezzanine loan in an amount of up to $7,000,000 provided by Isaac Capital Fund, a private lender whose managing member is Jon Isaac, the chief executive officer of the Company. The Isaac Capital Fund mezzanine loan bears interest at 12.5% with payment obligations of interest each month and all principal due in January 2021 (six months after the final payments are due under the Bank of America Term and Revolving Loan). As of March 31, 2016 and September 30, 2015, there was $5,650,259 and $6,495,825, respectively, outstanding on this mezzanine loan.

7. Equity

7. Equity	6 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	Common Stock During the six months ended March 31, 2016, the Company issued: · 9,693 shares of common stock for services rendered valued at $15,000. The value was based on the market value of the Company’s common stock on the date of issuance. During the six months ended March 31, 2015, the Company issued: · 29,927 shares of common stock for services rendered valued at $89,627. The value was based on the market value of the Company’s common stock on the date of issuance; · 155,000 shares of common stock for net cash proceeds of $538,441; · 801,378 share of common stock for the conversion of convertible notes and accrued interest of $635,756; · 630,252 shares of common stock as payment for the original issue discount fees associated with the Kingston agreement. The value of the shares of $2,004,202 was based on the market value of the Company’s common stock at the date of issuance. Treasury Stock During the six months ended March 31, 2016, the Company purchased 53,510 shares of its common stock on the open market (treasury shares) for $80,292. The Company accounted for the purchase of these treasury shares using the cost method. 2014 Omnibus Equity Incentive Plan On January 7, 2014, our Board of Directors adopted the 2014 Omnibus Equity Incentive Plan (the “2014 Plan”), which authorizes the issuance of distribution equivalent rights, incentive stock options, non-qualified stock options, performance stock, performance units, restricted ordinary shares, restricted stock units, stock appreciation rights, tandem stock appreciation rights and unrestricted ordinary shares to our officers, employees, directors, consultants and advisors. The Company has reserved up to 1,800,000 shares of common stock for issuance under the 2014 Plan. As required under Nasdaq Listing Rule 5635(c), the Company included a proposal at its 2014 Annual Meeting of Stockholders, which was held on July 11, 2014, to obtain approval of the 2014 Plan. The 2014 Plan was approved. Series E Convertible Preferred Stock Pursuant to a tender offer in 2002, holders of 13,184 shares of the Company’s common stock exchanged said shares for 127,840 shares of Series E Convertible Preferred Stock, at the then $0.85 market value of the common stock. The shares carry a $0.30 per share liquidation preference and accrue dividends at the rate of 5% per annum on the liquidation preference per share, payable quarterly from legally available funds. If such funds are not available, dividends shall continue to accumulate until they can be paid from legally available funds. Holders of the preferred shares are entitled, after two years from issuance, to convert them into common shares on a one-to-one basis together with payment of $0.45 per converted share. Dividends During the six months ended March 31, 2016 and 2015, the Company accrued dividends of $959 and $960, respectively, payable to holders of Series E preferred stock. At March 31, 2016 unpaid dividends were $959.

8. Warrants

8. Warrants	6 Months Ended
	Mar. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
Warrants	The Company issued several Notes in prior periods and converted them resulting in the issuance of warrants. The following table summarizes information about the Company’s warrants at March 31, 2016: Number Weighted Weighted Average Remaining Contractual Term (in years) Intrinsic Outstanding at September 30, 2015 3,540,876 $ 0.69 2.73 $ 3,498,531 Granted – Exercised – Outstanding at March 31, 2016 3,540,876 $ 0.69 2.23 $ 2,471,677 Exercisable at March 31, 2016 3,540,876 $ 0.69 2.23 $ 2,471,677 Most of the above warrants were issued in connection with conversion of convertible notes (See Note 5). When the debt is converted and warrants are issued, the Company determines the fair value of the warrants using the Black-Scholes model and takes a charge to interest expense at the date of issuance. The exercise price for warrants outstanding and exercisable at March 31, 2016 is as follows: Outstanding Exercisable Number of Exercise Number of Exercise Warrants Price Warrants Price 1,631,886 $ 0.55 1,631,886 $ 0.55 535,716 0.56 535,716 0.56 371,487 0.81 371,487 0.81 1,001,787 0.95 1,001,787 0.95 3,540,876 3,540,876

9. Stock Options

9. Stock Options	6 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Stock Options	From time to time, the Company grants stock options and restricted stock awards to officers, directors, employees and consultants. These awards are valued based on the grant date fair value of the instruments, net of estimated forfeitures. The value of each award is amortized on a straight-line basis over the requisite service period. Stock Options The following table summarizes stock option activity for the six months ended March 31, 2016: Weighted Weighted Average Average Number of Exercise Remaining Shares Price Contractual Life Intrinsic Value Outstanding at September 30, 2015 1,050,000 $ 1.87 4.76 $ 225,750 Granted – Exercised – Forfeited – Outstanding at March 31, 2016 1,050,000 $ 1.87 4.26 $ 125,375 Exercisable at March 31, 2016 675,000 $ 1.73 3.76 $ 125,375 The Company recognized compensation expense of $174,855 and $48,399 during the six months ended March 31, 2016 and 2015, respectively, related to stock option awards granted to certain employees and executives based on the grant date fair value of the awards, net of estimated forfeitures. At March 31, 2016, the Company had $84,913 of unrecognized compensation expense (net of estimated forfeitures) associated with stock option awards which the Company expects will be recognized through June 2017. The exercise price for options outstanding and exercisable at March 31, 2016 is as follows: Outstanding Exercisable Number of Exercise Number of Exercise Options Price Options Price 187,500 $ 0.83 187,500 $ 0.83 150,000 1.25 150,000 1.25 187,500 1.67 37,500 1.67 37,500 2.08 – 2.08 37,500 2.50 – 2.50 450,000 2.53 300,000 2.53 1,050,000 675,000 The following table summarizes information about the Company’s non-vested shares as of March 31, 2016: Weighted- Number of Grant-Date Non-vested Shares Shares Fair Value Nonvested at September 30, 2015 375,000 $ 1.44 Granted – Vested – Nonvested at March 31, 2016 375,000 $ 1.44

10. Earnings (Loss) Per Share

10. Earnings (Loss) Per Share	6 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (loss) per share is calculated using the weighted average number of shares of common stock outstanding during the applicable period. Basic weighted average common shares outstanding is computed using the weighted average shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential common shares consist of the additional common shares issuable in respect of stock options, warrants and convertible preferred stock. The potential dilutive effect of stock options and warrants is calculated using the treasury stock method. Preferred stock dividends are subtracted from net loss to determine the amount available to common stockholders. The following table presents the computation of basic and diluted earnings (loss) per share: Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Basic Net income (loss) attributed to Live Ventures Incorporated $ 1,218,508 $ (1,095,220 ) $ 1,394,656 $ (6,042,654 ) Less: preferred stock dividends (479 ) (479 ) (959 ) (962 ) Net income (loss) applicable to common stock $ 1,218,029 $ (1,095,699 ) $ 1,393,697 $ (6,043,616 ) Weighted average common shares outstanding 16,895,709 16,045,823 16,900,429 15,573,357 Basic earnings (loss) per share $ 0.07 $ (0.07 ) $ 0.08 $ (0.39 ) Diluted Net income (loss) applicable to common stock $ 1,218,029 $ (1,095,699 ) $ 1,393,697 $ (6,043,616 ) Add: preferred stock dividends 479 0 959 0 Net income (loss) applicable for diluted earnings (loss) per share $ 1,218,508 $ (1,095,699 ) $ 1,394,656 $ (6,043,616 ) Weighted average common shares outstanding 16,895,709 16,045,823 16,900,429 15,573,357 Add: Options 97,912 0 115,106 0 Add: Warrants 1,833,168 0 1,955,722 0 Add: preferred stock 127,800 0 127,800 0 Assumed weighted average common shares outstanding 18,954,589 16,045,823 19,099,057 15,573,357 Diluted earnings (loss) per share $ 0.06 $ (0.07 ) $ 0.07 $ (0.39 ) The following is a list of potentially dilutive securities outstanding (prior to dilutive effect) at the respective periods: Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Options to purchase shares of common stock 1,050,000 600,000 1,050,000 600,000 Warrants to purchase shares of common stock 3,540,876 3,540,876 3,540,876 3,540,876 Series E convertible preferred stock 127,840 127,840 127,840 127,840 Total potentially dilutive shares 4,718,716 4,268,716 4,718,716 4,268,716

11. Income Taxes

11. Income Taxes	6 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	At March 31, 2016, the Company maintained a valuation allowance against its deferred tax assets. The Company determined that a 100% valuation allowance was necessary at March 31, 2016. For the period from October 1, 2015 to November 30, 2015, Marquis Industries, Inc. and subsidiaries is required to file a separate income return, and therefore, the income generated by these subsidiaries cannot be offset against the Company’s net operating losses. Income tax expense for the six months ended March 31, 2016 for Marquis Industries, Inc. was $413,980.

12. Related Party Transactions

12. Related Party Transactions	6 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	The Company entered into a Note Purchase Agreement with ICG, an entity owned by Jon Isaac, the Company’s President and Chief Executive Officer and a director of the Company, and subsequently issued a series of Subordinated Convertible Notes thereunder to ICG. In connection with these transactions, the Company received gross proceeds of $500,000 during the year ended September 30, 2014. Because the conversion price under ICG’s notes was less than the fair market value of the stock on the date of issuance, the Company recognized a beneficial conversion feature which was treated as a debt discount and amortized on a straight line basis as interest expense until the date of conversion, at which time all remaining debt discount was recognized as interest expense. Additionally, the fair value of the warrants that were contingently issuable to ICG upon conversion were recognized as additional interest expense. During the six months ended March 31, 2016 and 2015, the Company recognized total interest expense of $0 and $2,018,803, respectively, associated with the ICG notes. The Company leases a building from a related party under long-term operating lease. The building lease from a related party is $18,562 per month and expires in July 2020. On January 12, 2016, ICG advanced $800,000 to the Company. The advance was non-interest bearing and was repaid on January 29, 2016. Also see Note 6 and 7.

13. Commitments and Contingenci

13. Commitments and Contingencies	6 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Purchase price contingency In connection with acquisition of Modern Everyday, Inc., the Company issued 50,000 shares of the Company’s common stock as part of the consideration for the acquisition. The Company has guaranteed the holder of the 50,000 shares that the value of those shares will be at least $8.00 per shares 30 months after the acquisition date. The Company has agreed to compensate the holder, if the share price is less than $8.00 at the 30 months anniversary of the acquisition, the difference between $8.00 and the share price at the 30 month anniversary times the number of shares still owned by the holder. The Company reached an agreement with the holder of these shares that would not require the Company to compensate the holder if the value of the shares was under $8.00 per share; therefore the Company removed the contingent liability as of March 31, 2016 and recorded other income of $316,000 for the six months ended March 31, 2016. Litigation The Company is party to certain legal proceedings from time to time incidental to the conduct of its business. These proceedings could result in fines, penalties, compensatory or treble damages or non-monetary relief. The nature of legal proceedings is such that the Company cannot assure the outcome of any particular matter, and an unfavorable ruling or development could have a materially adverse effect on our consolidated financial position, results of operations and cash flows in the period in which a ruling or settlement occurs. However, based on information available to the Company’s management to date, the Company’s management does not expect that the outcome of any matter pending against us is likely to have a materially adverse effect on the Company’s consolidated financial position as of March 31, 2016, results of operations, cash flows or liquidity of the Company.

14. Concentration of Credit Ris

14. Concentration of Credit Risk	6 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	The Company maintains cash balances at banks in California, Nevada and Georgia. Accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 per institution as of March 31, 2016. At times, balances may exceed federally insured limits.

15. Segment Reporting

15. Segment Reporting	6 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	The Company operates in three segments which are characterized as: (1) legacy merchant’s services, (2) online marketplace platform and (3) manufacturing. The legacy merchants’ services consists of directory services, the online marketplace platform consists of livedeal.com and the fiscal 2014 acquisitions of consumer products entities and the manufacturing segment consists of the 2015 acquisition of Marquis Industries. The following tables summarize segment information for the three and six months ended March 31, 2016 and 2015: Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Revenues Marketplace platform $ 1,135,110 $ 3,879,696 $ 4,776,752 $ 11,476,764 Manufacturing 18,448,094 – 34,638,124 – Services 256,719 384,283 529,481 794,267 $ 19,839,923 $ 4,263,979 $ 39,944,357 $ 12,271,031 Gross profit Marketplace platform $ 255,204 $ 1,579,215 $ 1,850,459 $ 4,459,138 Manufacturing 5,105,793 – 9,659,467 – Services 245,202 355,881 506,148 712,914 $ 5,606,199 $ 1,935,096 $ 12,016,074 $ 5,172,052 Operating income (loss) Marketplace platform $ (1,245,829 ) $ (1,381,317 ) $ (2,149,574 ) $ (2,539,747 ) Manufacturing 2,199,635 – 3,891,265 – Services 244,672 291,977 504,039 582,518 $ 1,198,478 $ (1,089,340 ) $ 2,245,730 $ (1,957,229 ) Depreciation and amortization Marketplace platform $ 67,967 $ 160,932 $ 136,243 $ 325,454 Manufacturing 447,219 – 924,775 – Services – 6,693 – 6,693 $ 515,186 $ 167,625 $ 1,061,018 $ 332,147 Interest Expenses Marketplace platform $ 44,066 $ 5,314 $ 110,973 $ 4,196,944 Manufacturing 290,920 – 569,496 – Services – – – – $ 334,986 $ 5,314 $ 680,469 $ 4,196,944 Provision for income taxes Marketplace platform $ – $ – $ – $ – Manufacturing – – 413,980 – Services – – – – $ – $ – $ 413,980 $ – Net income (loss) Marketplace platform $ (935,830 ) $ (1,387,197 ) $ (1,745,298 ) $ (6,625,172 ) Manufacturing 1,911,769 – 2,772,552 – Services 242,569 291,977 491,596 582,518 $ 1,218,508 $ (1,095,220 ) $ 1,518,850 $ (6,042,654 ) As of As of March 31, September 30, 2016 2015 Total Assets Marketplace platform $ 4,152,083 $ 6,811,977 Manufacturing 35,861,555 33,714,344 Services 247,714 138,035 40,261,352 40,664,356 Intangible assets Marketplace platform $ 1,401,069 $ 1,516,930 Manufacturing 800,000 800,000 Services – – $ 2,201,069 2,316,930

16. Business Combinations

16. Business Combinations	6 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combinations	On July 6 and July 7, 2015, the Company entered into a series of agreements in connection with its indirect purchase of Marquis Industries, Inc., a Georgia corporation, and its subsidiaries. The purchase price allocation made by the Company as disclosed in the footnotes to its audited financial statements included in Form 10K is preliminary and subject to change. The Company has not yet completed its analysis to determine the fair value of inventory, property and equipment and a mezzanine loan on the acquisition date. Once this analysis is complete, the Company will adjust, if necessary, the provisional amounts assigned to inventory, property and equipment and a mezzanine loan in the accounting period in which the analysis is completed. The unaudited pro forma information below present statement of operations data for the six months ended March 31, 2015 as if the acquisition of Marquis Industries took place on October 1, 2014. Six Months Ended March 31 2015 (unaudited) Net revenue $ 43,773,603 Gross profit 13,268,198 Operating income 1,695,997 Net loss (4,632,009 ) Loss per share (0.30 )

2. Summary of Significant Acc22

2. Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements represent the consolidated financial position and results of operations of the Company and its subsidiaries as follows: Percentage Company Owned Parent Telco Billing, Inc. 100% Live Ventures Incorporated Velocity Marketing Concepts, Inc. 100% Live Ventures Incorporated Velocity Local, Inc. 100% Live Ventures Incorporated Modern Everyday, Inc. 100% Live Ventures Incorporated Modern Everyday, LLC 100% Modern Everyday, Inc. Super Nova, LLC 100% Modern Everyday, Inc. Live Goods, LLC 100% Live Ventures Incorporated Marquis Affiliated Holdings, LLC* 100% Live Ventures Incorporated Marquis Industries, Inc. 100% Marquis Affiliated Holdings, LLC A-O Industries, LLC 100% Marquis Industries, Inc. Astro Carpet Mills, LLC 100% Marquis Industries, Inc. Constellation Industries, LLC 100% Marquis Industries, Inc. S F Commercial Properties, LLC 100% Marquis Industries, Inc. The results of operations for Marquis Industries, Inc. have only been included since the date of acquisition of July 6, 2015. All intercompany transactions and balances have been eliminated in consolidation. * Effective November 30, 2015, the Company acquired the remaining 20% interest.
Noncontrolling Interest	Noncontrolling Interest On July 6, 2015, the Company, through MAH, acquired 80% interest in Marquis Industries, Inc. The transaction was accounted for under the acquisition method of accounting, with the purchase price allocated based on the fair value of the individual assets acquired and liabilities assumed. The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “ Consolidation The net income attributed to the NCI is separately designated in the accompanying consolidated statements of operations. Losses attributable to the NCI in a subsidiary may exceed the NCI’s interests in the subsidiary’s equity. The excess attributable to the NCI is attributed to those interests. The NCI shall continue to attribute its share of losses even if that attribution results in a deficit NCI balance. Effective November 30, 2015, the Company purchased the remaining 20% interest in Marquis for $2,000,000. In accordance with ASC 810, the excess of the noncontrolling interest at November 30, 2015 over the $2,000,000 purchase price of $78,038 has been recorded directly to additional paid in capital.
Inventories	Inventories Inventories are valued at the lower of the inventory’s cost (first in, first out basis) or the current market price of the inventory. Management compares the cost of inventory with its market value and an allowance is made to write down inventory to market value, if lower. At March 31, 2016 and September 30, 2015, the allowance for obsolete inventory was $334,028 and $402,278, respectively.
Revenue Recognition	Revenue Recognition Directory Services Revenue is billed and recognized monthly for services subscribed in that specific month. The Company has historically utilized outside billing companies to perform billing services through direct ACH withdrawals. For billings via ACH withdrawals, revenue is recognized when such billings are accepted. For billings via LECs, the Company recognizes revenue based on net billings accepted by the LECs. Due to the periods of time for which adjustments may be reported by the LECs and the billing companies, the Company estimates and accrues for dilution and fees reported subsequent to year-end for initial billings related to services provided for periods within the fiscal year. Such dilution and fees are reported in cost of services in the accompanying consolidated statements of operations. Customer refunds are recorded as an offset to gross revenue. Revenue for billings to certain customers that are billed directly by the Company and not through the outside billing companies is recognized based on estimated future collections which is reasonably assured. The Company continuously reviews this estimate for reasonableness based on its collection experience. Deals Revenue The Company recognizes revenue from its sales through its strategic publishing partners of discounted goods and services offered by its merchant clients (“Deals”) when the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred; the selling price is fixed or determinable; and collectability is reasonably assured. These criteria are met when the number of customers who purchase the daily deal exceeds the predetermined threshold, where, if applicable, the Deal has been electronically delivered to the purchaser and a listing of Deals sold has been made available to the merchant. At that time, the Company's obligations to the merchant, for which it is serving as an agent, are substantially complete. The Company's remaining obligations, which are limited to remitting payment to the merchant, are inconsequential or perfunctory. The Company records as revenue an amount equal to the net amount it retains from the sale of Deals after paying an agreed upon percentage of the purchase price to the featured merchant excluding any applicable taxes. Revenue is recorded on a net basis because the Company is acting as an agent of the merchant in the transaction. Deferred Revenue In some instances, the Company receives payments in advance of rendering services, whereupon such revenues are deferred until the related services are rendered. There is no deferred revenue as of March 31, 2016 and September 30, 2015. Product Revenue The Company derives product revenue primarily from direct revenue and fulfillment partner revenue from product sales. Product revenue is recognized when the following revenue recognition criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or the service has been provided; (3) the selling price or fee revenue earned is fixed or determinable; and (4) collection of the resulting receivable is reasonably assured. The Company evaluates the criteria outlined in ASC Topic 605-45, Principal Agent Considerations Manufacturing Revenue Revenues from the sale of carpet products, including shipping and handling amounts, are recognized when the following criteria are met: there is persuasive evidence that a sales agreement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title to the goods and assumes the risks and rewards of ownership, which is generally on the date of shipment. At the time revenue is recognized, the Company records a provision for the estimated amount of future returns based primarily on historical experience and any known trends or conditions that exist at the time revenue is recognized. Revenues are recorded net of taxes collected from customers.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be provided for those deferred tax assets for which if it is more likely than not that the related benefit will not be realized. The Company classifies tax-related penalties and interest as a component of income tax expense for financial statement presentation. For the period from October 1, 2015 to November 30, 2015, Marquis Industries, Inc. and subsidiaries is required to file a separate income tax return, and therefore, the income generated by these subsidiaries cannot be offset against the Company’s net operating losses.
Segment Reporting	Segment Reporting ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has three reportable segments (See Note 15).
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses a weighted average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of March 31, 2016 and September 30, 2015, the Company had no financial instruments with derivative feature.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements No accounting standards or interpretations issued recently are expected to a have a material impact on our consolidated financial position, operations or cash flows.

2. Summary of Significant Acc23

2. Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
List of subsidiaries	Percentage Company Owned Parent Telco Billing, Inc. 100% Live Ventures Incorporated Velocity Marketing Concepts, Inc. 100% Live Ventures Incorporated Velocity Local, Inc. 100% Live Ventures Incorporated Modern Everyday, Inc. 100% Live Ventures Incorporated Modern Everyday, LLC 100% Modern Everyday, Inc. Super Nova, LLC 100% Modern Everyday, Inc. Live Goods, LLC 100% Live Ventures Incorporated Marquis Affiliated Holdings, LLC* 100% Live Ventures Incorporated Marquis Industries, Inc. 100% Marquis Affiliated Holdings, LLC A-O Industries, LLC 100% Marquis Industries, Inc. Astro Carpet Mills, LLC 100% Marquis Industries, Inc. Constellation Industries, LLC 100% Marquis Industries, Inc. S F Commercial Properties, LLC 100% Marquis Industries, Inc. The results of operations for Marquis Industries, Inc. have only been included since the date of acquisition of July 6, 2015. All intercompany transactions and balances have been eliminated in consolidation. * Effective November 30, 2015, the Company acquired the remaining 20% interest.

3. Balance Sheet Information (T

3. Balance Sheet Information (Tables)	6 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance sheet information - Receivables	Balance sheet information is as follows: March 31, September 30, 2016 2015 Receivables, current, net: Accounts receivable, current $ 10,149,401 $ 9,007,127 Less: Allowance for doubtful accounts (760,809 ) (763,135 ) $ 9,388,592 $ 8,243,992 Receivables, long term, net: Accounts receivable, long term $ 344,572 $ 344,572 Less: Allowance for doubtful accounts (344,572 ) (344,572 ) $ – $ – Total receivables, net: Gross receivables $ 10,493,973 $ 9,351,699 Less: Allowance for doubtful accounts (1,105,381 ) (1,107,707 ) $ 9,388,592 $ 8,243,992
Components of allowance for doubtful accounts	March 31, September 30, 2016 2015 Components of allowance for doubtful accounts are as follows: Allowance for dilution and fees on amounts due from billing aggregators $ 1,063,618 $ 1,063,617 Allowance for customer refunds 1,508 1,715 Allowance for other trade receivables 40,255 42,375 $ 1,105,381 $ 1,107,707
Schedule of inventory	March 31, September 30, 2016 2015 Inventory Raw materials $ 6,801,295 $ 6,715,298 Work in progress 768,179 836,837 Finished goods 5,219,555 6,185,741 12,789,029 13,737,876 Less: Obsolescence reserve (334,028 ) (402,278 ) $ 12,455,001 $ 13,335,598
Schedule of property and equipment	March 31, September 30, 2016 2015 Property and equipment, net: Land and improvements $ 688,000 $ 687,999 Building and improvements 4,202,000 4,202,000 Transportation equipment 77,419 77,419 Machinery and equipment 7,764,360 7,676,561 Furnishings and fixtures 211,700 211,701 Office, computer equipment and other 250,079 244,674 13,193,558 13,100,354 Less: Accumulated depreciation (1,533,610 ) (618,453 ) $ 11,659,948 $ 12,481,901
Schedule of intangible assets	March 31, September 30, 2016 2015 Intangible assets, net: Domain name and marketing related intangibles $ 18,957 $ 18,957 Website and technology related intangibles 25,300 25,300 Purchased software 1,500,000 1,500,000 1,544,257 1,544,257 Less: Accumulated amortization (143,188 ) (27,327 ) $ 1,401,069 $ 1,516,930
Schedule of accrued liabilities	March 31, September 30, 2016 2015 Accrued payroll and bonuses $ 713,778 $ 731,782 Deferred revenue 243,082 243,082 Accrued software costs 1,500,000 1,500,000 Accrued expenses - other 879,567 1,186,085 $ 3,336,427 $ 3,660,949

4. Intangible Assets (Tables)

4. Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Future amortization expense related to intangible assets	2017 $ 222,971 2018 215,504 2019 214,286 2020 214,286 2021 214,286 Thereafter 319,736 $ 1,401,069

5. Notes Payable (Tables)

5. Notes Payable (Tables)	6 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Fixed coverage ratio table	Level Fixed Charge Coverage Ratio Base Rate Revolver Loan LIBOR Revolver Loans Base Rate Term Loans LIBOR Term Loans I >2.00 to 1.00 0.50% 1.50% 0.75% 1.75% II < 0.75% 1.75% 1.00% 2.00% III < 1.00% 2.00% 1.25% 2.25% IV < 1.25% 2.25% 1.50% 2.5%
Schedule of credit line debt	March 31, September 30, 2016 2015 Base Rate Revolver Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above), maturity date July 6, 2020 $ 8,042,995 $ 7,225,745 Base Rate Term Loan- interest rate based on prime rate adjusted for fixed coverage ratio (table above) fixed coverage ratio, maturity date July 6, 2020 7,150,766 7,628,438 Note payable to individual, payable on demand, interest at 10.0% per annum, unsecured 97,044 92,441 Acquisition note payable, $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed at 2.87% per annum (1) 400,000 395,251 Credit line due January 1, 2024, with interest rate of 2.75% 658,405 669,351 Total Debt 16,349,210 16,011,226 Current portion 1,452,388 1,443,036 Long-term portion $ 14,896,822 $ 14,568,190

8. Warrants (Tables)

8. Warrants (Tables)	6 Months Ended
	Mar. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
Warrant activity	Number Weighted Weighted Average Remaining Contractual Term (in years) Intrinsic Outstanding at September 30, 2015 3,540,876 $ 0.69 2.73 $ 3,498,531 Granted – Exercised – Outstanding at March 31, 2016 3,540,876 $ 0.69 2.23 $ 2,471,677 Exercisable at March 31, 2016 3,540,876 $ 0.69 2.23 $ 2,471,677
Schedule of warrants by exercise price	Outstanding Exercisable Number of Exercise Number of Exercise Warrants Price Warrants Price 1,631,886 $ 0.55 1,631,886 $ 0.55 535,716 0.56 535,716 0.56 371,487 0.81 371,487 0.81 1,001,787 0.95 1,001,787 0.95 3,540,876 3,540,876

9. Stock Options (Tables)

9. Stock Options (Tables)	6 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Stock option activity	Weighted Weighted Average Average Number of Exercise Remaining Shares Price Contractual Life Intrinsic Value Outstanding at September 30, 2015 1,050,000 $ 1.87 4.76 $ 225,750 Granted – Exercised – Forfeited – Outstanding at March 31, 2016 1,050,000 $ 1.87 4.26 $ 125,375 Exercisable at March 31, 2016 675,000 $ 1.73 3.76 $ 125,375
Stock option exercise price	Outstanding Exercisable Number of Exercise Number of Exercise Options Price Options Price 187,500 $ 0.83 187,500 $ 0.83 150,000 1.25 150,000 1.25 187,500 1.67 37,500 1.67 37,500 2.08 – 2.08 37,500 2.50 – 2.50 450,000 2.53 300,000 2.53 1,050,000 675,000
Non-vested share activity	Weighted- Number of Grant-Date Non-vested Shares Shares Fair Value Nonvested at September 30, 2015 375,000 $ 1.44 Granted – Vested – Nonvested at March 31, 2016 375,000 $ 1.44

10. Earnings (Loss) Per Share (

10. Earnings (Loss) Per Share (Tables)	6 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Basic and diluted net loss per share	Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Basic Net income (loss) attributed to Live Ventures Incorporated $ 1,218,508 $ (1,095,220 ) $ 1,394,656 $ (6,042,654 ) Less: preferred stock dividends (479 ) (479 ) (959 ) (962 ) Net income (loss) applicable to common stock $ 1,218,029 $ (1,095,699 ) $ 1,393,697 $ (6,043,616 ) Weighted average common shares outstanding 16,895,709 16,045,823 16,900,429 15,573,357 Basic earnings (loss) per share $ 0.07 $ (0.07 ) $ 0.08 $ (0.39 ) Diluted Net income (loss) applicable to common stock $ 1,218,029 $ (1,095,699 ) $ 1,393,697 $ (6,043,616 ) Add: preferred stock dividends 479 0 959 0 Net income (loss) applicable for diluted earnings (loss) per share $ 1,218,508 $ (1,095,699 ) $ 1,394,656 $ (6,043,616 ) Weighted average common shares outstanding 16,895,709 16,045,823 16,900,429 15,573,357 Add: Options 97,912 0 115,106 0 Add: Warrants 1,833,168 0 1,955,722 0 Add: preferred stock 127,800 0 127,800 0 Assumed weighted average common shares outstanding 18,954,589 16,045,823 19,099,057 15,573,357 Diluted earnings (loss) per share $ 0.06 $ (0.07 ) $ 0.07 $ (0.39 )
Potentially dilutive securities	Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Options to purchase shares of common stock 1,050,000 600,000 1,050,000 600,000 Warrants to purchase shares of common stock 3,540,876 3,540,876 3,540,876 3,540,876 Series E convertible preferred stock 127,840 127,840 127,840 127,840 Total potentially dilutive shares 4,718,716 4,268,716 4,718,716 4,268,716

15. Segment Reporting (Tables)

15. Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment reporting	The following tables summarize segment information for the three and six months ended March 31, 2016 and 2015: Three Months Ended March 31, Six Months Ended March 31, 2016 2015 2016 2015 Revenues Marketplace platform $ 1,135,110 $ 3,879,696 $ 4,776,752 $ 11,476,764 Manufacturing 18,448,094 – 34,638,124 – Services 256,719 384,283 529,481 794,267 $ 19,839,923 $ 4,263,979 $ 39,944,357 $ 12,271,031 Gross profit Marketplace platform $ 255,204 $ 1,579,215 $ 1,850,459 $ 4,459,138 Manufacturing 5,105,793 – 9,659,467 – Services 245,202 355,881 506,148 712,914 $ 5,606,199 $ 1,935,096 $ 12,016,074 $ 5,172,052 Operating income (loss) Marketplace platform $ (1,245,829 ) $ (1,381,317 ) $ (2,149,574 ) $ (2,539,747 ) Manufacturing 2,199,635 – 3,891,265 – Services 244,672 291,977 504,039 582,518 $ 1,198,478 $ (1,089,340 ) $ 2,245,730 $ (1,957,229 ) Depreciation and amortization Marketplace platform $ 67,967 $ 160,932 $ 136,243 $ 325,454 Manufacturing 447,219 – 924,775 – Services – 6,693 – 6,693 $ 515,186 $ 167,625 $ 1,061,018 $ 332,147 Interest Expenses Marketplace platform $ 44,066 $ 5,314 $ 110,973 $ 4,196,944 Manufacturing 290,920 – 569,496 – Services – – – – $ 334,986 $ 5,314 $ 680,469 $ 4,196,944 Provision for income taxes Marketplace platform $ – $ – $ – $ – Manufacturing – – 413,980 – Services – – – – $ – $ – $ 413,980 $ – Net income (loss) Marketplace platform $ (935,830 ) $ (1,387,197 ) $ (1,745,298 ) $ (6,625,172 ) Manufacturing 1,911,769 – 2,772,552 – Services 242,569 291,977 491,596 582,518 $ 1,218,508 $ (1,095,220 ) $ 1,518,850 $ (6,042,654 ) As of As of March 31, September 30, 2016 2015 Total Assets Marketplace platform $ 4,152,083 $ 6,811,977 Manufacturing 35,861,555 33,714,344 Services 247,714 138,035 40,261,352 40,664,356 Intangible assets Marketplace platform $ 1,401,069 $ 1,516,930 Manufacturing 800,000 800,000 Services – – $ 2,201,069 2,316,930

16. Business Combination (Table

16. Business Combination (Tables)	6 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of pro forma information	Six Months Ended March 31 2015 (unaudited) Net revenue $ 43,773,603 Gross profit 13,268,198 Operating income 1,695,997 Net loss (4,632,009 ) Loss per share (0.30 )

2. Summary of Significant Acc32

2. Summary of Significant Accounting Policies (Details - List of subsidiaries)	Mar. 31, 2016
Live Ventures, Inc. [Member] | Telco Billing, Inc. [Member]
Percentage owned in subsidiary	100.00%
Live Ventures, Inc. [Member] | Velocity Marketing Concepts, Inc. [Member]
Percentage owned in subsidiary	100.00%
Live Ventures, Inc. [Member] | Velocity Local, Inc. [Member]
Percentage owned in subsidiary	100.00%
Live Ventures, Inc. [Member] | Modern Everyday, Inc. [Member]
Percentage owned in subsidiary	100.00%
Live Ventures, Inc. [Member] | Live Goods, LLC [Member]
Percentage owned in subsidiary	100.00%
Live Ventures, Inc. [Member] | Marquis Affiliated Holdings, LLC [Member]
Percentage owned in subsidiary	100.00%
Modern Everyday, Inc. [Member] | Modern Everyday, LLC [Member]
Percentage owned in subsidiary	100.00%
Modern Everyday, Inc. [Member] | Super Nova, LLC [Member]
Percentage owned in subsidiary	100.00%
Marquis Affiliated Holdings, LLC [Member] | Marquis Industries, Inc. [Member]
Percentage owned in subsidiary	100.00%
Marquis Industries, Inc. [Member] | A-O Industries, LLC [Member]
Percentage owned in subsidiary	100.00%
Marquis Industries, Inc. [Member] | Astro Carpet Mills, LLC [Member]
Percentage owned in subsidiary	100.00%
Marquis Industries, Inc. [Member] | Constellation Industries, LLC [Member]
Percentage owned in subsidiary	100.00%
Marquis Industries, Inc. [Member] | S F Commercial Properties, LLC [Member]
Percentage owned in subsidiary	100.00%

2. Summary of Significant Acc33

2. Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Allowance for obsolete inventory	$ 334,028	$ 402,278
Deferred Revenue	0	$ 0
Marquis Affiliated Holdings, LLC [Member] | Marquis Industries, Inc. [Member]
Cash paid for equity interest	2,000,000
Excess of interest over purchase price	$ 78,038

3. Balance Sheet Information (D

3. Balance Sheet Information (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Receivables, current, net:
Accounts receivable, current	$ 10,149,401	$ 9,007,127
Less: Allowance for doubtful accounts	(760,809)	(763,135)
Receivables, current, net	9,388,592	8,243,992
Receivables, long term, net:
Accounts receivable, long term	344,572	344,572
Less: Allowance for doubtful accounts	(344,572)	(344,572)
Receivables, long term, net	0	0
Total receivables, net:
Gross receivables	10,493,973	9,351,699
Less: Allowance for doubtful accounts	(1,105,381)	(1,107,707)
Total receivables, net	9,388,592	8,243,992
Allowance for dilution and fees on amounts due from billing aggregators	1,063,618	1,063,617
Allowance for customer refunds	1,508	1,715
Allowance for other trade receivables	40,255	42,375
Total allowances	1,105,381	1,107,707
Inventory
Raw materials	6,801,295	6,715,298
Work in progress	768,179	836,837
Finished goods	5,219,555	6,185,741
Total inventory, gross	12,789,029	13,737,876
Less: obsolescence reserve	(334,028)	(402,278)
Total inventory, net	12,455,001	13,335,598
Property and equipment, net:
Land and improvements	688,000	687,999
Building and improvements	4,202,000	4,202,000
Transportation equipment	77,419	77,419
Machinery and equipment	7,764,360	7,676,561
Furnishings and fixtures	211,700	211,701
Office, computer equipment and other	250,079	244,674
Plant Property and Equipment,Gross	13,193,558	13,100,354
Less: Accumulated depreciation	(1,533,610)	(618,453)
Property and equipment, net	11,659,948	12,481,901
Intangible assets, net:
Domain name and marketing related intangibles	18,957	18,957
Website and technology related intangibles	25,300	25,300
Purchased software	1,500,000	1,500,000
Intangible assets, gross	1,544,257	1,544,257
Less: Accumulated amortization	(143,188)	(27,327)
Intangible assets, net	1,401,069	1,516,930
Accrued liabilities:
Accrued payroll and bonuses	713,778	731,782
Deferred revenue	243,082	243,082
Accrued software costs	1,500,000	1,500,000
Accrued expenses - other	879,567	1,186,085
Total accrued liabilities	$ 3,336,427	$ 3,660,949

4. Intangible Assets (Details)

4. Intangible Assets (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense, 2017	$ 222,971
Amortization expense, 2018	215,504
Amortization expense, 2019	214,286
Amortization expense, 2020	214,286
Amortization expense, 2021	214,286
Amortization expense, thereafter	319,736
Total future amortization expense	$ 1,401,069	$ 1,516,930

4. Intangible Assets (Details N

4. Intangible Assets (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015
Software purchased			$ 1,500,000
Software useful life term			84 months
Accrued liabilities	$ 3,336,427		$ 3,660,949
Amortization expense	115,861	$ 299,423
Software
Accrued liabilities	$ 1,500,000

5. Notes Payable (Details)

5. Notes Payable (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Total Debt	$ 16,349,210	$ 16,011,226
Current portion	1,452,388	1,443,036
Long-term portion	14,896,822	14,568,190
Credit line [Member]
Total Debt	658,405	669,351
Term Loan [Member]
Total Debt	7,150,766	7,628,438
Note payable to individual [Member]
Total Debt	97,044	92,441
Acquisition note payable [Member]
Total Debt	400,000	395,251
Revolver Loan [Member]
Total Debt	$ 8,042,995	$ 7,225,745

5. Notes Payable (Details Narr

5. Notes Payable (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	May. 11, 2016	Mar. 31, 2016	Mar. 31, 2015	Sep. 06, 2016	Mar. 31, 2016	Mar. 31, 2015
Non-cash change in fair value of derivative liability		$ 0	$ 0		$ 0	$ 83,580
Payment on note payable					477,672	551,112
February 2014 Convertible Note [Member]
Non-cash change in fair value of derivative liability						$ 83,580
Term Loan [Member]
Credit line maximum		7,800,000			$ 7,800,000
Credit line maturity date					Jul. 31, 2020
Monthly payments					$ 79,000
Revolver Loan [Member]
Credit line maximum		$ 15,000,000			$ 15,000,000
Subsequent Event [Member] | Acquisition note payable [Member]
Payment on note payable	$ 350,000			$ 50,000

6. Note Payable, Related Party

6. Note Payable, Related Party (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Loan outstanding	$ 5,650,259	$ 6,495,825
Mezzanine Loan [Member]
Loan maximum borrowing amount	7,000,000
Loan outstanding	$ 5,650,259	$ 6,495,825
Maturity date	Jan. 31, 2021
Interest rate	12.50%

7. Equity (Details Narrative)

7. Equity (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Issuance of common stock for services, shares			9,693	29,927
Issuance of common stock for services, value			$ 15,000	$ 89,627
Issuance of common stock for cash, shares				155,000
Issuance of common stock for cash, value				$ 538,441
Issuance of common stock for conversion of debt, shares				801,378
Issuance of common stock for conversion of debt, value				$ 635,756
Issuance of common stock for loan fees, shares				630,252
Issuance of common stock for loan fees, value				$ 2,004,202
Treasury stock purchased, shares				53,510
Payment for treasury stock			80,292	$ 0
Accrrued dividends	$ 959		959
Dividends accrued	$ 479	$ 479	$ 959	$ 960
Stock reserved for future issuance	1,800,000		1,800,000
2014 Plan [Member]
Stock reserved for issuance under stock plan	1,800,000		1,800,000
Common Stock
Common stock converted into Series E Convertible Preferred stock, common shares exchanged			13,184
Series E Convertible Preferred Stock [Member]
Common stock converted into Series E Convertible Preferred stock, preferred shares issued			127,840

8. Warrants (Details - Warrants

8. Warrants (Details - Warrants Outstanding) - Warrants [Member]	6 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Number of units
Outstanding, beginning of period	3,540,876
Granted	0
Exercised	0
Outstanding, end of period	3,540,876
Exercisable, end of period	3,540,876
Weighted Average Exercise Price
Outstanding, beginning of period | $ / shares	$ 0.69
Granted | $ / shares
Outstanding, end of period | $ / shares	$ 0.69
Exercisable, end of period | $ / shares	$ 0.69
Weighted Average Remaining Contractual Term (in years)
Outstanding, beginning of period	2 years 8 months 23 days
Outstanding, end of period	2 years 2 months 23 days
Exercisable, end of period	2 years 2 months 23 days
Intrinsic value outstanding, beginning of period | $	$ 3,498,531
Intrinsic value outstanding, end of period | $	$ 2,471,677
Exercisable, end of period	2,471,677

8. Warrants (Details - Exercise

8. Warrants (Details - Exercise price) - Warrants [Member] - $ / shares	Mar. 31, 2016	Sep. 30, 2015
Number of warrants outstanding	3,540,876	3,540,876
Warrants exercise price, outstanding	$ 0.69	$ 0.69
Number of warrants exercisable	3,540,876
$0.55 [Member]
Number of warrants outstanding	1,631,886
Warrants exercise price, outstanding	$ 0.55
Number of warrants exercisable	1,631,886
Warrants exercise price, exercisable	$ 0.55
$0.56 [Member]
Number of warrants outstanding	535,716
Warrants exercise price, outstanding	$ 0.56
Number of warrants exercisable	535,716
Warrants exercise price, exercisable	$ 0.56
$0.81 [Member]
Number of warrants outstanding	371,487
Warrants exercise price, outstanding	$ 0.81
Number of warrants exercisable	371,487
Warrants exercise price, exercisable	$ 0.81
$0.95 [Member]
Number of warrants outstanding	1,001,787
Warrants exercise price, outstanding	$ 0.95
Number of warrants exercisable	1,001,787
Warrants exercise price, exercisable	$ 0.95

9. Stock Options (Details - Opt

9. Stock Options (Details - Option activity) - Stock Options [Member] - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Number of Shares
Outstanding, beginning balance	1,050,000
Granted
Exercised
Forfeited
Outstanding, ending balance	1,050,000	1,050,000
Exercisable	675,000
Weighted Average Exercise Price
Outstanding, beginning balance	$ 1.87
Granted
Exercised
Forfeited
Outstanding, ending balance	$ 1.87	$ 1.87
Exercisable	$ 1.73
Weighed Average Remaining Contractual Life
Outstanding, ending balance	4 years 3 months 4 days	4 years 9 months 4 days
Exercisable	3 years 9 months 4 days
Intrinsic value outstanding, beginning balance	$ 225,750
Intrinsic value outstanding, ending balance	125,375
Exercisable	$ 125,375

9. Stock Options (Details - O44

9. Stock Options (Details - Option price) - Stock Options [Member] - $ / shares	Mar. 31, 2016	Sep. 30, 2015
Number of options outstanding	1,050,000	1,050,000
Option exercise price outstanding	$ 1.87	$ 1.87
Number of options exercisable	675,000
Option exercise price exercisable	$ 1.73
$0.83 [Member]
Number of options outstanding	187,500
Option exercise price outstanding	$ 0.83
Number of options exercisable	187,500
Option exercise price exercisable	$ 0.83
$1.25 [Member]
Number of options outstanding	150,000
Option exercise price outstanding	$ 1.25
Number of options exercisable	150,000
Option exercise price exercisable	$ 1.25
$1.67 [Member]
Number of options outstanding	187,500
Option exercise price outstanding	$ 1.67
Number of options exercisable	37,500
Option exercise price exercisable	$ 1.67
$2.08 [Member]
Number of options outstanding	37,500
Option exercise price outstanding	$ 2.08
Number of options exercisable	0
Option exercise price exercisable	$ 2.08
$2.50 [Member]
Number of options outstanding	37,500
Option exercise price outstanding	$ 2.50
Number of options exercisable	0
Option exercise price exercisable	$ 2.50
$2.53 [Member]
Number of options outstanding	450,000
Option exercise price outstanding	$ 2.53
Number of options exercisable	300,000
Option exercise price exercisable	$ 2.53

9. Stock Options (Details - Non

9. Stock Options (Details - Non vested) - Stock Options [Member]	6 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of shares
Outstanding, beginning balance	375,000
Granted
Vested	0
Outstanding, ending balance	375,000
Weighted-Average Grant-Date Fair Value
Per share price nonvested options outstanding, beginning of period | $ / shares	$ 1.44
Per share price nonvested options outstanding, end of period | $ / shares	$ 1.44

9. Stock Options (Details Narra

9. Stock Options (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation [Abstract]
Stock-based compensation expense	$ 174,885	$ 48,399
Unrecognized compensation expense	$ 84,913
Weighted-average period for unrecognized compensation expense	1 year 3 months

10. Earnings (Loss) Per Share47

10. Earnings (Loss) Per Share (Details - Computation of loss per share) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Basic
Net income (loss) attributed to Live Ventures Incorporated	$ 1,218,508	$ (1,095,220)	$ 1,394,656	$ (6,042,654)
Less: preferred stock dividends	(479)	(479)	(959)	(960)
Net income (loss) applicable to common stock	$ 1,218,029	$ (1,095,699)	$ 1,393,697	$ (6,043,616)
Weighted average common shares outstanding	16,895,709	16,045,823	16,900,429	15,573,357
Basic earnings (loss) per share	$ .07	$ (.07)	$ .08	$ (.39)
Diluted
Net income (loss) applicable to common stock	$ 1,218,029	$ (1,095,699)	$ 1,393,697	$ (6,043,616)
Add: preferred stock dividends	479	0	959	0
Net income (loss) applicable for diluted earnings (loss) per share	$ 1,218,508	$ (1,095,220)	$ 1,394,656	$ (6,042,654)
Weighted average common shares outstanding	16,895,709	16,045,823	16,900,429	15,573,357
Add: Options	97,912	0	115,106	0
Add: Warrants	1,833,168	0	1,955,722	0
Add: preferred stock	127,800	0	127,800	0
Assumed weighted average common shares outstanding	18,954,589	16,045,823	19,099,057	15,573,357
Diluted earnings (loss) per share	$ .06	$ (.07)	$ .07	$ (.39)

10. Earnings (Loss) Per Share48

10. Earnings (Loss) Per Share (Details - Antidilutive securities) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	4,718,716	4,268,716	4,718,716	4,268,716
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	1,050,000	600,000	1,050,000	600,000
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	3,540,876	3,540,876	3,540,876	3,540,876
Series E Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	127,840	127,840	127,840	127,840

11. Income Taxes (Details Narra

11. Income Taxes (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income tax expense	$ 0	$ 0	$ 413,980	$ 0
Marquis Industries, Inc. [Member]
Income tax expense			$ 413,980

12. Related Party Transactions

12. Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
IGC [Member]
Interest expense	$ 0	$ 2,018,803

13. Commitments and Contingen51

13. Commitments and Contingencies (Details Narrative)	6 Months Ended
	Mar. 31, 2016USD ($)
Modern Everyday, Inc. [Member]
Other income	$ 316,000

15. Segment Reporting (Details)

15. Segment Reporting (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015
Net revenues	$ 19,839,923	$ 4,263,979	$ 39,944,357	$ 12,271,031
Gross profit	5,606,199	1,935,096	12,016,074	5,172,052
Operating income (loss)	1,198,478	(1,089,340)	2,245,730	(1,957,229)
Depreciation and amortization	515,186	167,625	1,061,018	332,147
Interest expenses	334,986	5,314	680,469	4,196,944
Provision for income taxes	0	0	413,980	0
Net income (loss)	1,218,508	(1,095,220)	1,518,850	(6,042,654)
Total Assets	40,261,352		40,261,352		$ 40,664,356
Intangible assets (including goodwill)	2,201,069		2,201,069		2,316,930
Marketplace Platform [Member]
Net revenues	1,135,110	3,879,696	4,776,752	11,476,764
Gross profit	255,204	1,579,215	1,850,459	4,459,138
Operating income (loss)	(1,245,829)	(1,381,317)	(2,149,574)	(2,539,747)
Depreciation and amortization	67,967	160,932	136,243	325,454
Interest expenses	44,066	5,314	110,973	4,196,944
Provision for income taxes	0	0	0	0
Net income (loss)	(935,830)	(1,387,197)	(1,745,298)	(6,625,172)
Total Assets	4,152,083		4,152,083		6,811,977
Intangible assets (including goodwill)	1,401,069		1,401,069		1,516,930
Manufacturing [Member]
Net revenues	18,448,094	0	34,638,124	0
Gross profit	5,105,793	0	9,659,467	0
Operating income (loss)	2,199,635	0	3,891,265	0
Depreciation and amortization	447,219	0	924,775	0
Interest expenses	290,920	0	569,496	0
Provision for income taxes	0	0	413,980	0
Net income (loss)	1,911,769	0	2,772,552	0
Total Assets	35,861,555		35,861,555		33,714,344
Intangible assets (including goodwill)	800,000		800,000		800,000
Services [Member]
Net revenues	256,719	384,283	529,481	794,267
Gross profit	245,202	355,881	506,148	712,914
Operating income (loss)	244,672	291,977	504,039	582,518
Depreciation and amortization	0	6,693	0	6,693
Interest expenses	0	0	0	0
Provision for income taxes	0	0	0	0
Net income (loss)	242,569	$ 291,977	491,596	$ 582,518
Total Assets	247,714		247,714		138,035
Intangible assets (including goodwill)	$ 0		$ 0		$ 0

16. Business Combinations (Deta

16. Business Combinations (Details - Proforma) - Marquis Industries, Inc. [Member]	6 Months Ended
	Mar. 31, 2015USD ($)$ / shares
Proforma information
Net revenue	$ 43,773,603
Gross profit	13,268,198
Operating income	1,695,997
Net loss	$ (4,632,009)
Loss per share | $ / shares	$ (.30)