Current Media Hold On? — Can Live

Is the end near for Live Current Media?

It has by now gone down as one of the biggest missed opportunities in the domain name world. Will it come to an end soon?

By all accounts, Live Current Media had one of the most valuable category-killer generic domain name portfolios. It still has many good domains. But poor execution has led the firm to sell off many of these domain names to raise cash to survive. The firm noted a loss of regarding $4 million for 2009, and cash is flying out the door.

To compensate, the firm sold 10 domain names last year for a total of regarding $3.2 million, not counting a deal to dispose of its cricket liabilities and sell Cricket.com. Still, the firm had only $1.214 million in current assets as of December 31, 2009. Current liabilities were $2.431 million.

In its annual note, the firm admits that its future as a going concern is in doubt. The firm lists seven measures it is taking to keep afloat. Among these are deferring payments on an buyout that never made sense, asking vendors to take payment in shares rather than cash, and continuing to sell domain names.

Unfortunately, you can’t sell off all of your assets as a way to finance a losing business. Eventually the firm will run out of good domain names. Its perfume.com business isn’t enough to sustain it.

Someone ought to put Live Current out of its misery.