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Livingston manager David Martindale has confirmed US-based parties are interested in investing in the Scottish Premiership club.
However, two ongoing court cases regarding disputes over who owns shares may affect potential investment.
The club has twice come out of administration after insolvency events in 2004 and 2009.
"It's common knowledge the club's trying to drive investment," said Martindale.
"The club's trying to bring new shares into circulation so we can sell them in the open market or to new investors. There's a couple of court actions going on just now."
Asked when he hoped the legal proceedings would be resolved, Martindale responded: "As soon as possible."
Martindale, who joined the club's coaching staff in 2014 and became manager in 2020, described this summer's transfer window as "the hardest year in terms of recruitment".
"I had to lose £200,000 off the budget," he explained. "We had to find a way to generate a further £200,000 to bring that income into the football club so that closed a £400,000 gap. We think we're there with it.
"We're £200,000 alone on VAR and the Scottish government repayment that got us through Covid. Our overheads just in energy alone have trebled.
"If we go and finish 12th in the Premiership, the club's in trouble next year - just the same as every other club. We go and finish 11th, we could be in a bit of trouble."
The West Lothian outfit have been in the top flight since promotion in 2018, having been in the third tier at one stage in the years following their second administration.
"We're probably the only club in the Premiership that doesn't own their stadium," Martindale said.
"There's a lot of historical baggage. We punch above our weight on the park and that's huge, huge credit to everybody at the football club.
"We're just the same as any other football club. We probably live on a year-to-year basis. Probably we're in the best case we've ever been since I came to the club in terms of we're now working on a yearly basis.
"When I first came into the club I can remember the directors sitting in operations meetings and being asked to put money into the club on a monthly basis.
"We know we're financially viable going into the next year but there's a difference between being financially viable and being competitive on the park."
