NATURE AND CONTINUANCE OF OPERATIONS

3 Months Ended

Mar. 31, 2022

Nature And Continuance Of Operations [Abstract]

NATURE AND CONTINUANCE OF OPERATIONS [Text Block]

1. NATURE AND CONTINUANCE OF OPERATIONS

Live Current Media, Inc. (the "Company" or "Live Current") was incorporated under the laws of the State of Nevada on October 10, 1995. The Company's wholly owned principal operating subsidiary, Domain Holdings Inc. ("DHI"), was incorporated under the laws of British Columbia on July 4, 1994 under the name "IMEDIAT Digital Creations Inc.". On April 14, 1999, IMEDIAT Digital Creations Inc. changed its name to "Communicate.com Inc." and was redomiciled from British Columbia to the jurisdiction of Alberta. On April 5, 2002, Comminicate.com Inc. changed its name to Domain Holdings Inc.

On March 13, 2008, the Company incorporated a subsidiary in the state of Delaware, Perfume.com Inc. (Perfume Inc.) which is a dormant and inactive company.

On January 18, 2022, the Company incorporated a subsidiary in the state of Delaware, Evasyst Acquisition Inc. ("LIVC Sub”) for the purpose of completing a merger agreement signed on January 20, 2022 with Evasyst Inc. Evasyst Inc. operates the social, video streaming, watch party platform Kast (note 9).

Live Current is a digital technology company involved in the entertainment industry. Live Current is currently developing 2 projects, SPRT MTRX and Trivia Matrix, which are positioned in the sports and gaming sectors.

The accompanying condensed interim consolidated financial statements have been prepared assuming the Company will continue as a going concern. As of March 31, 2022 the Company has no continuing source of revenue and has an accumulated deficit of $18,103,068. The Company's ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to further develop its business. To date, the Company has funded operations through the issuance of capital stock and debt. Management plans to continue raising additional funds through equity or debt financing and loans from directors. There is no certainty that further funding will be available as needed. These issues raise substantial doubt about the ability of the Company to continue operating as a going concern. The ability of the Company to continue its operations as a going concern is dependent upon its ability to raise sufficient new capital to fund its operating commitments and ongoing losses and ultimately on generating profitable operations. The financial statements do not include any adjustments to be recorded to assets or liabilities that might be necessary should the Company be unable to continue as a going concern.