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LiveWorld Inc. Message Board

  • bbkingagain bbkingagain Oct 27, 2011 10:16 AM Flag

    Equity in net income / loss of unconsolidated affiliate

    What is the other "unconsolidated affiliate?" It's a line item in their financials.

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    • email houston.
      gotta tend my other flowers, they'ze all blooming today except lvwd, hiding in the closet.

      • 1 Reply to soccertese2006
      • Regarding your question: In your financials released yesterday, what is the :other "unconsolidated affiliate?" It's a line item in the financials

        I did email and I did get a response! I asked for more details because I don't recall much about this other than the press on this several yrs ago.

        "The unconsolidated affiliate is our 50% ownership in the joint venture we have with WPP. GAAP rules dictate that if a company owns more than 50% it needs to consolidate the entire profit and loss statement. However, we own 50% and thus do not have controlling interest in the joint venture, GAAP dictates we show our portion of the profit or loss as a single line item in our P&L. I hope that answers your question.
        Best regards, David Houston - Chief Financial Officer"

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