Live Current Media, which owns the domain Cricket.com and had won the portal rights for the Indian Premier League, has raised $1.06 million via private placements with CEO Geoffrey Hampson, President and COO Jonathan Ehrlich and Chief Corporate Development Officer Mark Melville. Another tranch of up to $1 million is expected within the next 15 days. The money will be utilised to meet the payout to the Indian Premier League, and for the development of the companys Perfume.com business. Their 10-Q filing makes for worrying reading: LCM ended Q3 with negative working capital, after having reported seven consecutive quarters with substantial losses. What's more, they expect to continue to make losses, as they intend to spend money in marketing, and on Global Cricket Venture (GCV) - their JV with Net Link Blue Holdings. In order to address short term liquidity needs, the company plans to sell six domain names - Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, GreatBritain.com and Communicate.com, which they expect will get them $6-10 Million...enough money to last them till the end of 2009. LCM has over 800 domains. Earnings LCM has also announced earnings results for the Q3, the quarter ending September 30th 2008: They've reported revenues of $1.95 million, around $1.93 million of which is from their Perfume.com business. We hadn't expect much from the Cricket related businesses - the IPL wasn't operational during the quarter, and Cricket.com and BCCI.tv have only just been launched. BCCI.tv is the site for national Cricket, which hardly generates as much interest…
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