Live Current Media, owner and operator of some of the most powerful and engaging content and commerce destinations on the Internet, has entered agreements to sell two more of its non-core domain names for $1.65 million. Live Current previously announced in February the sale of one of its non-core domain name for CDN $500,000.
“We believe the recent sales of three of Live Current’s non-core domain names for a total of over US $2 million is a testament to the inherent value of our domain name assets, especially in this challenging economic climate,†said Live Current Chairman and CEO Geoff Hampson.
“Together with the cost-cutting measures previously announced, the proceeds from these sales should provide for Live Current’s working capital needs without diluting current shareholdings. These sales form part of management’s strategy to achieve the goal of cash flow positive operations by the end of 2009.â€
CEO, Geoff Hampson has also agreed to defer all salary and other compensation indefinitely. The length of such deferral will be solely at the discretion of Mr. Hampson and the Board of Directors. Management is continuing to identify further cost-cutting and revenue generating opportunities and is considering various strategic alternatives for its cricket business.
Originally posted on March 5, 2009 @ 11:00 am
thats an amazing news now websites are selling to such huge price