secwatch.observer — SEC 8-K summary
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Issuer:     LiveOne, Inc. (LVO)
CIK:        0001491419
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001213900-23-008720
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 2.03, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LiveOne exchanges ~$21.2M notes for Series A Preferred; settles SoundExchange litigation
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- Exchanged notes totaling ~$21.2M with Harvest funds and Trinad Capital for 21,177 shares of Series A Perpetual Convertible Preferred, stated value $1,000, convertible at $2.10/share, 12% dividend.
- Issued 600,000 common shares to Harvest funds and 200,000 to Trinad Capital as additional consideration; also 25,000 shares for interest extension.
- CEO Robert Ellin agreed to remain CEO until Harvest no longer owns Series A Preferred; term extended to Sept 7, 2023, cash salary resumed.
- Settled litigation with SoundExchange: company to make monthly payments over 24 months; SX agreed not to enforce prior judgment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1491419/000121390023008720/0001213900-23-008720-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1491419/000121390023008720/ea172780-8k_liveoneinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-008720

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer