Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 13, 2018 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Trading Symbol | livc | |
Entity Registrant Name | Live Current Media Inc. | |
Entity Central Index Key | 1,108,630 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 34,837,625 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash | $ 775,744 | $ 956,549 |
Receivable | 0 | 5,435 |
Domain proceeds receivable | 67,500 | 82,500 |
Total Current Assets | 843,244 | 1,044,484 |
Non-current assets | ||
Domain proceeds receivable | 0 | 30,000 |
Intangible assets | 206,150 | 206,150 |
Total Assets | 1,049,394 | 1,280,634 |
Current liabilities | ||
Accounts payable | 119,424 | 185,550 |
Other payable | 17,338 | 17,236 |
Total Liabilities | 136,762 | 202,786 |
Stockholders' equity | ||
Capital stock Authorized: 500,000,000 common shares, par value $0.001 per share Issued and outstanding: 34,837,625 common shares (34,837,625 at December 31, 2017) | 34,838 | 34,838 |
Additional paid in capital | 18,257,563 | 18,257,563 |
Deficit | (17,379,769) | (17,214,553) |
Total Stockholders' Equity | 912,632 | 1,077,848 |
Total Liabilities and Stockholders' Equity | $ 1,049,394 | $ 1,280,634 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 34,837,625 | 34,837,625 |
Common Stock, Shares, Outstanding | 34,837,625 | 34,837,625 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
General and administrative expenses | ||||
General and administrative | $ 47,369 | $ 69,093 | $ 96,085 | $ 109,776 |
Professional fees | 29,575 | 38,970 | 65,502 | 46,111 |
Loss from operations | (76,944) | (108,063) | (161,587) | (155,887) |
Gain on debt retirement | 0 | 182,236 | 0 | 182,236 |
Interest expense | (51) | 0 | (102) | (51) |
Foreign exchange | (3,138) | 92 | (3,527) | (6) |
Total Non-Operating Income (Expense) | (3,189) | 182,328 | (3,629) | 182,179 |
Net and comprehensive income (loss) | $ (80,133) | $ 74,265 | $ (165,216) | $ 26,292 |
Basic and diluted loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of basic common shares outstanding | 34,837,625 | 34,837,625 | 34,837,625 | 34,837,625 |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY - USD ($) | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Deficit [Member] | Total |
Beginning Balance at Dec. 31, 2016 | $ 34,838 | $ 18,257,563 | $ (17,285,593) | $ 1,006,808 |
Beginning Balance (Shares) at Dec. 31, 2016 | 34,837,625 | |||
Net income for the year | 71,040 | 71,040 | ||
Ending Balance at Dec. 31, 2017 | $ 34,838 | 18,257,563 | (17,214,553) | 1,077,848 |
Ending Balance (Shares) at Dec. 31, 2017 | 34,837,625 | |||
Net income for the year | (165,216) | (165,216) | ||
Ending Balance at Jun. 30, 2018 | $ 34,838 | $ 18,257,563 | $ (17,379,769) | $ 912,632 |
Ending Balance (Shares) at Jun. 30, 2018 | 34,837,625 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows used in operating activities | ||
Net income (loss) for the period | $ (165,216) | $ 26,292 |
Non-cash items | ||
Accrued interest | 102 | 51 |
Changes in non-cash working capital items | ||
Receivable | 50,435 | 0 |
Accounts payable and accrued liabilities | (66,126) | (250,488) |
Cash used in operating activities | (180,805) | (224,145) |
Cash flows used in investing activities | ||
Change in cash | (180,805) | (224,145) |
Cash, beginning of period | 956,549 | 1,149,555 |
Cash, end of period | 775,744 | 925,410 |
Supplemental cash flow information: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
NATURE AND CONTINUANCE OF OPERA
NATURE AND CONTINUANCE OF OPERATIONS | 6 Months Ended |
Jun. 30, 2018 | |
NATURE AND CONTINUANCE OF OPERATIONS [Text Block] | 1. NATURE AND CONTINUANCE OF OPERATIONS Live Current Media Inc. (the “Company” or “Live Current”) was incorporated under the laws of the State of Nevada on October 10, 1995. The Company has a portfolio of domain names. Basis of Presentation In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report in Amendment 3 of Form 10-12G/A, for the year ended December 31, 2017, as filed with the SEC on May 9, 2018. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2018 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Adoption of New Accounting Pronouncement Other accounting standards or amendments to existing accounting standards that have been issued but have future dates are either not applicable or are not expected to have a significant impact on the Company’s financial statements. |
DOMAIN PROCEEDS RECEIVABLE
DOMAIN PROCEEDS RECEIVABLE | 6 Months Ended |
Jun. 30, 2018 | |
DOMAIN PROCEEDS RECEIVABLE [Text Block] | 3. DOMAIN PROCEEDS RECEIVABLE On October 6, 2017, the Company sold a domain name for $135,000, to be paid in monthly instalments of$7,500. As at June 30, 2018, the balance remaining on this receivable totaled $67,500. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 6 Months Ended |
Jun. 30, 2018 | |
INTANGIBLE ASSETS [Text Block] | 4. INTANGIBLE ASSETS June 30, 2018 December 31, 2017 Domain names $ 201,496 $ 201,496 Trademarks 4,654 4,654 $ 206,150 $ 206,150 The Company’s portfolio of domain names is considered by management to consist of indefinite life intangible assets not subject to amortization. |
Summary of Significant Accoun11
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Adoption of New Accounting Pronouncement [Policy Text Block] | Adoption of New Accounting Pronouncement Other accounting standards or amendments to existing accounting standards that have been issued but have future dates are either not applicable or are not expected to have a significant impact on the Company’s financial statements. |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2018 December 31, 2017 Domain names $ 201,496 $ 201,496 Trademarks 4,654 4,654 $ 206,150 $ 206,150 |
DOMAIN PROCEEDS RECEIVABLE (Nar
DOMAIN PROCEEDS RECEIVABLE (Narrative) (Details) | Oct. 06, 2017USD ($) |
Proceeds from sale of domain name | $ 135,000 |
Monthly payments for brokerage fee | 7,500 |
Domain name receivable | $ 67,500 |
Schedule of Finite-Lived Intang
Schedule of Finite-Lived Intangible Assets (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Domain names | $ 201,496 | $ 201,496 |
Trademarks | 4,654 | 4,654 |
Intangible Assets | $ 206,150 | $ 206,150 |