Live Microsystems Inc (LMSC)

[wolfdeluxe]

The audited annual report for 2011/2012, which also describes in detail what happened until June 2013:
Annual Report LVWR/LMSC

Interesting read for all who are searching for a good summary regarding all business activities of Livewire/Livemicrosystems to this day.

One of the most interesting parts is the description of the NOL´s on page 20 imo
Here is a short summary:

Net operating loss carryforwards ............................................................. $ 123,286 $ 123,912
Research and development tax credit carryforwards .......................................10,140 10,075


For U.S. federal income tax purposes, the Company has net operating loss carryforwards available to reduce taxable income of $342.1 million at December 31, 2012. The Company’s ability to utilize its net operating loss carryforwards may be significantly limited, as under the provisions of the Internal Code Section 382, certain changes in the Company’s ownership structure may result in a limitation on the amount of net operating loss carryforwards and research and development tax credit carryforwards that may be used in future years. If certain transactions occur with respect to the Company’s capital stock, under rules prescribed by the U.S. Internal Revenue Code and applicable Treasury regulations, an annual limitation may be imposed with respect to the ability to utilize the Company’s net operating loss carryforwards and federal tax credits. Similar provisions may exist for state tax purposes and vary by jurisdiction. During the third quarter of 2010, the Company received shareholder approval to amend its articles of incorporation in order to protect its NOLs (the "NOL Protective Measures") and those measures are now in effect. Under the NOL Protective Measures any person, company or investment firm that wishes to become a "5% shareholder" of Livewire Mobile, Inc. must first obtain a waiver from the Company's Board of Directors. In addition, any person, company or investment firm that is already a "5% shareholder" of Livewire Mobile, Inc. cannot make any additional purchases of Livewire Mobile, Inc. stock without a waiver from the Company's Board of Directors.