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LiveWorld Reports Second Quarter Financial ResultsLiveWorld, Inc. (OTC Markets: LVWD), today announced financial results for the second quarter of 2018. Total revenues were approximately $1.7 million for the second quarter, as compared to the approximately $2.5 million in total revenues reported for the same period in 2017. This represented a reduction in total revenues of $809,000 period over period or 32%. The Company's revenues for the six months ended June 30, 2018 were approximately $4.1 million, as compared to the $4.9 million for the six months ended June 30, 2017. This represents a reduction of $807,000 period over period or 16%. The Company reported a net loss for the quarter of approximately $358,000, or 20% of total revenues. This compares to net loss of approximately $494,000, or 20% of total revenues reported for the second quarter of 2017. The Company had a net loss for the six months ended June 30, 2018 of approximately $490,000, or 11% of total revenues, as compared to the net loss of approximately $808,000, or 16% of total revenues for the six months ended June 30, 2017. The Company finished the second quarter with approximately $1.3 million in cash and cash equivalents, as compared to the approximately $656,000 at the end of the first quarter of 2018, an increase of $664,000 or 101%. The Company said the decline in revenue was due primarily to the end of the Walmart relationship in the second quarter. Walmart was the largest client and it represented 95% of the $809,000 reduction in revenues. The remaining 5% was related to the timing and renewal of other client projects. "We will continue to invest and expand our footprint in the healthcare sector, including growing our services revenue and innovating our SaaS (News - Alert) platform," said David Houston, Chief Financial Officer of LiveWorld. "We anticipate this investment will result in positive revenue growth in the sector for us in 2018." Detailed financial information may be downloaded at www.liveworld.com/ir (LiveWorld's Investor Relations page) or at www.otcmarkets.com. About LiveWorld At LiveWorld, we provide conversation management software, consulting, and online agent workforce services. These empower companies to manage conversations in messaging apps and social media to develop deeper relationships with customers. We specialize in handling the speed and scale requirements of brands to engage customers 1-on-1 in real-time and deliver personalized interactions with a human touch. Our conversation-centric software is designed to track and manage dialogue, engage customers, and integrate chatbots and human agents with enterprise systems. Companies are able to quickly solve the scale, security, automation, and multi-social channel challenges associated with marketing and customer service programs. LiveWorld services include strategy, campaign management, content moderation, engagement, customer service, and social analytics. Our team of marketing strategists, conversation specialists, chatbot experts, social data analysts, online agents, and software developers collaborate to deliver marketing and customer service solutions that seamlessly integrate software and human teams. LiveWorld clients include the number one brands in consumer packaged goods, retail, pharmaceutical, and financial-travel services. LiveWorld is headquartered in San Jose, California, with an additional office in New York City. Learn more at www.liveworld.com and @LiveWorld. "Safe Harbor" Statement Under The Private Securities Litigation Reform Act This press release may contain forward-looking information concerning LiveWorld 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, and the results of its product development efforts. Actual results may differ materially from those expressed in the forward- looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld's ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld's ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, 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.
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