Live Ventures Inc provides online marketing solutions to small-to-medium sized local businesses that boost customer awareness and merchant visibility. The Company has three operating segments- Manufacturing, Marketplace Platform and Services. The Manufacturing Segment derives revenue primarily from the sale of carpet products; including shipping and handling amounts, which 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. The MarketPlace Platform Segment derives product revenue primarily from direct and fulfillment partner sales. Product revenue is recognized when the following revenue recognition criteria are met: there is persuasive evidence of an arrangement exists, delivery has occurred, the price to the buyer is fixed or determinable, and collectability is reasonably assured. The Services Segment recognizes revenue from directory subscription services as billed for and accepted by the customer. The Company offers product known as InstantProfile through its business.
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