LiveOne provides update for its $10M share repurchase program

LiveOne provided today certain updates for its ongoing $10M stock repurchase program. Under the stock repurchase program LiveOne’s management has the discretion to buy back shares of common stock of LiveOne and/or PodcastOne. LiveOne owns ~80% of PodcastOne’s outstanding common stock. Robert Ellin, Chairman and CEO of LiveOne, commented, “As previously announced, we are continuing to repurchase shares of our common stock in the open market. We strongly believe our shares are grossly undervalued and our actions are intended to maximize shareholder value. Our month-over-month increasing recurring cash flows have enabled us to retire outstanding liabilities and debt, and we believe this is the best use of our excess cash.”