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Filing Details

Accession Number:: 0001213900-22-074345
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-11-21 20:30:28
Reporting Period:: 2022-11-21

Accepted Time:: 2022-11-21 20:30:28
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1491419	Liveone Inc.	LVO	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1071292	S Robert Ellin	C/O Liveone, Inc. 269 South Beverly Drive, Suite 1450 Beverly Hills CA 90212	Ceo & Chairman	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, $0.001 Par Value	Acquisiton	2022-11-21	25,000	$0.67	2,079,666	No	4	P	Direct
Common Stock, $0.001 Par Value	Acquisiton	2022-11-21	10,000	$0.68	2,089,666	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, $0.001 Par Value	17,552,984	Indirect	See footnotes

Footnotes

The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.6598 to $0.675, inclusive. The Reporting Person undertakes to provide to Issuer or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote 1.
The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.6776 to $0.6822, inclusive. The Reporting Person undertakes to provide to Issuer or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote 2.
Includes (i) 7,339,899 shares of Issuer's common stock owned by Trinad Capital as of November 15, 2022, as the Reporting Person, the Managing Director and Portfolio Manager of Trinad Capital, is deemed to have sole voting and dispositive power over such shares, (ii) 716,216 shares of Issuer's common stock owned by Trinad Capital Management, LLC ("Trinad Management") as of November 15, 2022, as the Reporting Person, the Managing Member of Trinad Management, is deemed to have sole voting and dispositive power over such shares, (iii) 6,817,810 shares of Issuer's common stock owned by JJAT Corp. ("JJAT") as of November 15, 2022, an entity owned by the Reporting Person, as the Reporting Person is deemed to have sole voting and dispositive power over such shares, (continued to footnote 4)
(continued from footnote 3), (iv) approximately 2,012,392 shares of Issuer's common stock issuable as of November 15, 2022 upon conversion of Issuer's convertible notes held by Trinad Capital, which Trinad Capital has the right to convert at the conversion price of $3.00 per share as a result of Issuer's public offering completed on December 27, 2017, and (v) 666,667 stock options to purchase shares of Issuer's common stock at an exercise price of $4.00 per share. Accordingly, securities owned by these entities may be regarded as being beneficially owned by the Reporting Person.
Each of the Reporting Person and Trinad Management disclaim beneficial ownership of the reported securities except for the (i) Reporting Person's and Trinad Management's pecuniary interest therein, (ii) direct beneficial ownership of Trinad Management as reported herein, (iii) indirect interest of Trinad Management by virtue of being the Managing Director and Portfolio Manager of Trinad Capital, (iv) indirect interest of the Reporting Person by virtue of being a member of Trinad Management, (v) indirect interest of the Reporting Person by virtue of being a shareholder of JJAT, and (vi) indirect interest of the Reporting Person by virtue of being a member of Trinad Capital. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Does not include (i) shares of Issuer's common stock held by a family trust and family foundation as to which the Reporting Person does not exercise voting or dispositive power, and (ii) 88,660 restricted stock units that shall vest on September 7, 2023, subject to earlier vesting in the event of a change in control or the Reporting Person's departure from Issuer.