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LiveWorld Files Form 10-SB with SEC with Intention to Return to NASD OTC Bulletin Board
San Jose, Calif., March 21, 2007 – LiveWorld, Inc. (OTC Pink Sheets: LVWD.PK), a leading online social networking and community services marketing agency, announced today that it has filed a Form 10-SB with the Securities and Exchange Commission with the intent to list its securities on the NASD Over the Counter Bulletin Board (OTC BB; www.otcbb.com).
"Returning to the OTC will be a major milestone for our company and stockholders," said Peter Friedman, Chairman and Chief Executive Officer, LiveWorld. "This progress reflects the strength of our business model, the market leadership of our product line, the support of our clients and stockholders, and the incredibly hard work of our employees."
"We continue to carefully manage our financials and are positioning the company to move from the Pink Sheets to trade on the OTC market," said David Houston, Chief Financial Officer, LiveWorld. "This step is part of our strategic plan to provide the investment community additional visibility into LiveWorld, as we continue to grow and capitalize on the opportunities as a leading provider of online social networking and community solutions for major brands worldwide."
LiveWorld helps corporations tap into the newly-emerging field of online marketing by creating, hosting, moderating, and managing private label social networks. Through LiveWorld solutions, major brands such as AOL, The Campbell Soup Company, Coca-Cola, eBay, HBO, Kraft Foods, MINI Cooper, MTV, The NBA, TV Guide and others are creating vibrant online communities that enable powerful relationships with and among their customers. The result is higher brand loyalty, more effective customer support, insightful business intelligence and higher customer satisfaction.
Founded in April 1996, to create private label social networks for corporations and to operate a consumer community site, LiveWorld made its initial public offering and registration on the NASDAQ in July 1999 under the name Talk City during the initial Internet boom era. (In mid-2001, after selling its consumer web site, talkcity.com, the Company changed back to its original name, LiveWorld) In the fourth quarter of 2002, LiveWorld moved itself to the Pink Sheets as one of many cost saving measures in a period in which many Internet companies folded. LiveWorld turned cash positive at the end of 2002. The company subsequently reported several years of revenue growth and cash positive operations. During 2006, the Company resumed financial auditing by its auditor, Stonefield Josephson LLP, and brought in a new Chief Financial Officer, David Houston (see Oct. 10, 2006 release).
As part of the filing, the Company reported the full financial year ended 2006 (see separate release March 21, 2007).
About LiveWorld, Inc.
LiveWorld (Pink Sheets: LVWD.PK, www.liveworld.com) is a leading interactive marketing agency specializing in private label online social networks and communities for Fortune 1000 companies. LiveWorld creates, hosts, and manages communities based on its unique community applications and moderation platform, enabling companies to strengthen customer relationships, increase revenues, and reduce costs. With twenty years of experience, an extensive applications hosting platform, LiveWorld is the trusted partner of leading brands worldwide. Clients include America Online, A&E Television Networks, AOL UK, BEA Systems, BlogSafety.com, Breast Cancer.org, eBay, The Campbell Soup Company, The Coca-Cola Company, Discovery Communications, HBO, IDG, Intel, JumpTheShark.com, Kraft Foods, Land Rover, Match.com, MINI Cooper USA, MTV, The NBA, QVC, Tulane University, TV Guide and Verizon. Agency relationships have included AKQA (Coca Cola), AOL Media (Dove, Target, media clients), Beamland (MINI), Euro RSCG (Campbells, MINI), Digiton (media client), Hill, Holiday, Connors, Cosmopulos (financial services client), Ogilvy (Dove), Questus (Verizon), and Wunderman UK (Land Rover). LiveWorld is headquartered in San Jose, California and deploys its services in over 30 country-language combinations. For further information, visit www.liveworld.com
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act:
This press release may contain forward-looking information concerning LiveWorld's plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld's current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense. Actual results may differ materially from those expressed in the forward looking statements made as a result of, among other things, the state of the economy, government action, industry standards, LiveWorld's ability to successfully deliver upon its contractual commitments, clients continuing their ongoing relationships with the Company, LiveWorld's ability to acquire new customers, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. (See the Company's March 20, 2007 Form 10-SB filing for a list that includes other possible risk factors.)
LiveWorld Contacts
PR Contact: Betty Taylor, bettyt@krause-taylor.com, Ph: 408-918-9080
IR Contact: Brinlea Johnson: The Blueshirt Group, for LiveWorld, 212 867-2593