The LiveStats reprting server service is a part of the LiveStats application suite that provides website visitor data analysis. This particular component of the suite generates reports from the data it receives through communicating with the LiveStats data collector service for all configured virtual servers and it also controls user permissions. If this service is stopped then it will not be able to present the information it gathered. If you don't want this service then you should uninstall the entire LiveStats suite; but, then why did you pay for it?
Please visit /tools/services/ for the complete Vernalex.com Services utility.
"The optimist proclaims that we live in the best of all possible worlds, and the pessimist fears this is true." --James Branch Cabell