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Liquid Media takes steps to strengthen balance sheet

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Liquid Media takes steps to strengthen balance sheet

Liquid Media Group Ltd. said it has taken various actions to further its compliance plan for continued listing on the Nasdaq and to strengthen its balance sheet.

The company has concluded agreements with various parties for debt settlements, services, equity investments and license acquisitions for total consideration of 5,381,103 shares at an average price per share of 99 cents.

On the content side, the company acquired full intellectual property ownership for the gaming properties Blowout and Blast Works from Zift Interactive LLC. Liquid also acquired a license to market and distribute six existing games owned by Lightning Man Media LLC.

Liquid further said it plans to develop an in-game payment service that will increase product revenues.