Live Current Media Announces Quarterly Profit While Making Further Progress on Cost Reductions

VANCOUVER--(Business Wire)--
Live Current Media Inc. (OTCBB:LIVC), a media company built around content and
commerce destinations, today announced that it produced a quarterly profit of
$703,000 on quarterly revenues of $1.757 million. Although total revenues were
down 10% from the same period last year, overall gross margin was up by 81.2%
during the same period. All results contained herein are reported in US Dollars
(unless otherwise noted) under United States generally accepted accounting
principles (US GAAP). The financial results are extrapolated from the Company's
unaudited financial statements and related notes included in its most recent
Quarterly Report on SEC Form 10-Q.

Select Q3 2009 Financial Highlights and Corporate Developments

* Q3 revenues of $1.757 million driven by significant sales in the health and
beauty segment which accounted for 85.2% of total quarterly revenues.
* Overall gross margin increased 81.2% in Q3 2009 to 32.7% from 18.0% in Q3 of
2008.
* Total general and administrative expenses decreased by 74% compared to Q3 of
2008.
* Management fees and employee salaries decreased by 68% compared to Q3 of 2008,
not including stock-based compensation and accrued bonuses.
* Total operating expenses decreased by 66% to $1.21 million in Q3 of 2009
compared to $3.56 million in Q3 of 2008.
* The Company exited the cricket business by selling the cricket.com domain name
for $1 million and assigning the IPL MOU to an unrelated company. This
transaction included an assumption by the unrelated company of $750,000 in
liabilities previously accrued for minimum rights payments due to the IPL.
* The Company sold 4 non-core domain names during the quarter for a gain of
$1.11 million not including the sale of cricket.com. The Company recognized only
$41,667 related to the cricket.com sale during the period. The deferred gain of
$208,333 and the remaining $750,000 of cash not yet received from the sale of
cricket.com are expected to be recognized into income over the next 9 months.
* The Company restated its financial statements for the following periods:

* Fiscal year ended December 31, 2007
* Fiscal year ended December 31, 2008
* Quarter ended March 31, 2009

The total adjustment to the Company`s net loss in the fiscal year end financial
statements of December 31, 2008 was a cumulative $19,186.

* -- Subsequent to quarter end, the Company entered into an amendment to the
employment agreement with its CEO reducing his salary from CDN$300,000 to
CDN$120,000 effective February 1, 2009.

* In addition, in November 2009 the Company entered an agreement with the former
President of the Company whereby he relinquished CDN$250,000 of compensation due
to him in stock under the Separation Agreement dated February 4, 2009 for total
consideration of CDN$20,000 cash.

"Management has made considerable progress in our plan to restructure the
Company with the exit from the cricket business, the sale of non-core domain
names to finance the Company`s operations in a non-dilutive way and to re-focus
perfume.com to be more than just another discount perfume site" stated Geoffrey
Hampson, Live Current Media`s CEO. "The general and administrative costs have
been greatly reduced, and payables remaining from 2008 have been renegotiated at
reduced amounts and are being paid off. We believe that the Company is poised
for renewed growth in 2010 during which we expect to see significantly higher
gross margins as a result of the strategy of creating a content based and highly
engaging consumer experience on perfume.com. Live Current has come through a
very difficult period with the majority of its assets intact and we believe that
our health and beauty business will experience growth going forward. In
addition, we are working on several new initiatives that leverage our portfolio
of top tier domain names without having to deploy our development capital."

"Live Current`s health and beauty business continues to deliver on plan with
higher margins, highly engaging content and unique user tools that allow perfume
fans to select a scent that matches the occasion or their personalities. We have
also entered into a partnership with Chandler Burr, the famed New York Times
perfume critic and author, to provide exclusive content for perfume.com,"
continued Hampson. "We believe that the focus on creating a single source for
relevant information, recommendations and a platform for perfume lovers is the
differentiating strategy that is driving the improved margins associated with
our business. We believe that perfume.com, with its new strategy, is well
positioned to take advantage of these market trends."

About Live Current Media Inc.

Live Current builds, owns and operates some of the most powerful and engaging
content and commerce destinations on the Internet, such as www.perfume.com.
Through subject-specific DestinationHubs, Live Current properties connect people
to each other and to the information, brands, and products they are passionate
about. Live Current has headquarters in Vancouver, Canada with a location in
Seattle, WA and is publicly traded on the OTCBB (LIVC). For more information,
visit www.livecurrent.com.

All statements in this press release that are not statements of historical fact
are forward-looking statements, including any projections of growth, earnings,
revenue, cash or other financial items, any statements of the plans, strategies,
objectives and goals of management for future operations, any statements
regarding future economic conditions or performance, statements of belief and
any statements of assumptions underlying any of the foregoing.These statements
are based on expectations and assumptions as of the date of this press release
and are subject to numerous risks and uncertainties, which could cause actual
results to differ materially from those described in the forward-looking
statements.These risks and uncertainties include, but are not limited to,
general economic conditions particularly as they relate to demand for our
products and services; competitive factors; pricing pressures; changes in
operating expenses; our ability to raise capital as and when we need it and
other factors.Live Current Media Inc. assumes no obligation to update these
forward-looking statements to reflect future events or actual outcomes and does
not intend to do so.

Investor Relations:
Live Current
Andrea Laird, 604-453-4870 or 1-866-898-4354
andrea@livecurrent.com

Copyright Business Wire 2009