Our last post on Livewire Ergogenics Inc (OTCMKTS:LVVV) emphasized the company’s potential and the level of interest it would likely generate from the market.In that time, the stock has jumped from an already impressive $0.0176, peaked at $0.0279 and only recently suffered a minor dip to $0.0217. In this piece, we cover the details of the company and its latest business since our last post.Take a look at the stock’s recent price movement: LVVV Daily ChartCompany OverviewLivewire Ergonomics, Inc. was founded by Bill J. Hodson and Brad J. Nichols in October 2007 and is headquartered in Yorba Linda, California.The firm is focused on the development, sale, distribution, and marketing of chewable energy complements and other functional nutriments as required by patient needs. It also provides soft chew through the brand, LiveWire Energy.For more information on the company, visit our website here.Recent DevelopmentsThe firm recently publicized that it would be deploying blockchain technology to develop a highly secure system for its cannabis usage and in verifying dosage levels. The firm, whose major business operations cover product development, acquisition, research partnerships as well as the management of product manufacturing equipment for cannabis-related sales, intends to use blockchain’s devolved ledger system in the support the Dosage Verification and Pure Cannabis Compliance System. Leon Fleyshman, a well-known blockchain technology expert was appointed as the Senior Advisor for the project.The purpose of these systems is to create an objective and unbiased confirmation of the origin of cannabis material, labeling, purity, potency, dosage among other factors and then secure each of the products using a unique digital identity and clearly recognizable blockchain system.The idea behind the deployment of blockchain technology is to ensure that the 7X Pure system is completely protected, verifiable and transparent. Using this, LiveWire will be able to guard the confidentiality of manufacturers’ and growers’ intellectual property all while providing government officials, consumers, retailers and involved parties the verification that the manufacturers’ and growers’ claims are true.Mr. Fleyshman explained that on the blockchain every iteration of each piece of data is designed to automatically contain all prior iterations as well and every additional data entry is instantly administered, established and warehoused by several devices all over the globe. This helps to preserve the integrity of the system and that provides a level of reliability that is not existent with any other kind of technology available.The verification system, which was created as a similar service to the seed-to-sale data delivered through marijuana tracking software, will assist growers and producers in meeting the ever-rising compliance demands which are associated with transparency, quality, and logistics. It also delivers a greater form of confidence to parties involved, ranging from municipalities to the end users, who have the capacity to input codes into a website so as to quickly ascertain that the product’s claims relating to the material’s dosage, purity, potency, origin and more are all appropriately ascertained.This form of utilization of blockchain technology will also provide a framework for a more open supply chain network, which has data privacy built into the devolved blockchain arrangement.Chief Executive Officer of LiveWire, Bill Hodson added that it would be difficult to highlight adequately the significance of confidentiality and security in the sector. At a time where ‘track and trace’ requests are being compelled by local and state bodies, trade associates within the sector are justifiably defensive of their exclusive growth methods, the level of integrity of the marijuana strains, as well as other trade secrets. Combining the safety of blockchain technology along with the numerous advantages of the pure verification system is expected to restructure the entirety of the cannabis industry.Financial PerformanceAccording to its statement of comprehensive income, the firm successfully grew its sales revenue by a massive 63% from the last period, rising from $0.14 million to $0.24 million the current year. However, due to its high selling and administrative expenses, it recorded an operating loss of $2.89 million, four times the operating loss from the previous period. At the end of the year, the firm had a net loss of $4.2 million, continuing its trend of losses which is quite common for firms in the development stage.The firm is very highly leveraged as it has liabilities on its book which are worth no less than 7 times just as much as its assets. Its dangerously low liquidity will pose a worry for investors and points at as likely capital raise sometime within the year.ConclusionLVVV clearly has potential, but it must start delivering on its potential to boost the belief in its abilityWe will be updating our subscribers as soon as we know more. For the latest updates on LVVV, sign up below!Disclosure: We have no position in LVVV and have not been compensated for this article.
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