diff --git a/examples/hot_reload/message.v b/examples/hot_reload/message.v
index 336a2cfaff4bf7..c6d7cdd07a61bf 100644
--- a/examples/hot_reload/message.v
+++ b/examples/hot_reload/message.v
@@ -4,15 +4,25 @@ module main
 import time
 import v.live
 
+struct App {
+mut:
+	x       int
+	counter int
+}
+
 @[live]
-fn print_message() {
-	info := live.info()
-	println('OK reloads: ${info.reloads_ok:4d} | Total reloads: ${info.reloads:4d} | Hello! Modify this message while the program is running.')
+fn print_message(mut app App) {
+	i := live.info()
+	println('OK reloads: ${i.reloads_ok:4d} | Total reloads: ${i.reloads:4d} | Hello! Modify this message while the program is running. app: ${voidptr(app)} | app.x: ${app.x:6} | app.counter: ${app.counter:6}')
+	// app.x = 99 // try changing this to another value, while the program is running ...
+	app.counter++
 }
 
 fn main() {
+	unbuffer_stdout()
+	mut app := &App{}
 	for {
-		print_message()
+		print_message(mut app)
 		time.sleep(500 * time.millisecond)
 	}
 }
diff --git a/vlib/builtin/builtin.c.v b/vlib/builtin/builtin.c.v
index 2f8e5c9683ef51..831f7d543173b4 100644
--- a/vlib/builtin/builtin.c.v
+++ b/vlib/builtin/builtin.c.v
@@ -69,7 +69,7 @@ fn panic_debug(line_no int, file string, mod string, fn_name string, s string) {
 		eprint(' function: '); eprint(fn_name); eprintln('()')
 		eprint('  message: '); eprintln(s)
 		eprint('     file: '); eprint(file); eprint(':');
-		C.fprintf(C.stderr, c'%d\n', line_no)		
+		C.fprintf(C.stderr, c'%d\n', line_no)
 		eprint('   v hash: '); eprintln(@VCURRENTHASH)
 		eprintln('=========================================')
 		// vfmt on
@@ -394,7 +394,7 @@ fn _memory_panic(fname string, size isize) {
 	$if freestanding || vinix {
 		eprint('size') // TODO: use something more informative here
 	} $else {
-		C.fprintf(C.stderr, c'%ld', size)
+		C.fprintf(C.stderr, c'%p', voidptr(size))
 	}
 	if size < 0 {
 		eprint(' < 0')
@@ -768,6 +768,9 @@ __global g_main_argc = int(0)
 @[markused]
 __global g_main_argv = unsafe { nil }
 
+@[markused]
+__global g_live_reload_info voidptr
+
 // arguments returns the command line arguments, used for starting the current program as a V array of strings.
 // The first string in the array (index 0), is the name of the program, used for invoking the program.
 // The second string in the array (index 1), if it exists, is the first argument to the program, etc.
diff --git a/vlib/v/gen/c/cgen.v b/vlib/v/gen/c/cgen.v
index 61da187473bd05..79a6bad86a3365 100644
--- a/vlib/v/gen/c/cgen.v
+++ b/vlib/v/gen/c/cgen.v
@@ -6094,9 +6094,13 @@ fn (mut g Gen) write_init_function() {
 	defer {
 		util.timing_measure(@METHOD)
 	}
-	if g.pref.is_liveshared {
+
+	// Force generate _vinit_caller, _vcleanup_caller , these are needed under Windows,
+	// because dl.open() / dl.close() will call them when loading/unloading shared dll.
+	if g.pref.is_liveshared && g.pref.os != .windows {
 		return
 	}
+
 	fn_vinit_start_pos := g.out.len
 
 	// ___argv is declared as voidptr here, because that unifies the windows/unix logic
diff --git a/vlib/v/gen/c/consts_and_globals.v b/vlib/v/gen/c/consts_and_globals.v
index 2fb214b526f118..b6d6c4fca20a9c 100644
--- a/vlib/v/gen/c/consts_and_globals.v
+++ b/vlib/v/gen/c/consts_and_globals.v
@@ -440,7 +440,7 @@ fn (mut g Gen) global_decl(node ast.GlobalDecl) {
 			fn_type_name := g.get_anon_fn_type_name(mut anon_fn_expr, field.name)
 			g.global_const_defs[util.no_dots(fn_type_name)] = GlobalConstDef{
 				mod:   node.mod
-				def:   '${fn_type_name} = ${g.table.sym(field.typ).name}; // global2'
+				def:   '${fn_type_name} = ${g.table.sym(field.typ).name}; // global 1'
 				order: -1
 			}
 			continue
@@ -451,7 +451,7 @@ fn (mut g Gen) global_decl(node ast.GlobalDecl) {
 		modifier := if field.is_volatile { ' volatile ' } else { '' }
 		def_builder.write_string('${extern}${visibility_kw}${modifier}${styp} ${attributes}${field.name}')
 		if cextern {
-			def_builder.writeln('; // global5')
+			def_builder.writeln('; // global 2')
 			g.global_const_defs[util.no_dots(field.name)] = GlobalConstDef{
 				mod:   node.mod
 				def:   def_builder.str()
@@ -484,7 +484,7 @@ fn (mut g Gen) global_decl(node ast.GlobalDecl) {
 				if field.name in ['g_main_argc', 'g_main_argv'] {
 					init = '\t// skipping ${field.name}, it was initialised in main'
 				} else {
-					init = '\t${field.name} = ${g.expr_string(field.expr)}; // 3global'
+					init = '\t${field.name} = ${g.expr_string(field.expr)}; // global 3'
 				}
 			}
 		} else if !g.pref.translated { // don't zero globals from C code
@@ -493,18 +493,18 @@ fn (mut g Gen) global_decl(node ast.GlobalDecl) {
 			if default_initializer == '{0}' && should_init {
 				def_builder.write_string(' = {0}')
 			} else if default_initializer == '{EMPTY_STRUCT_INITIALIZATION}' && should_init {
-				init = '\tmemcpy(${field.name}, (${styp}){${default_initializer}}, sizeof(${styp})); // global'
+				init = '\tmemcpy(${field.name}, (${styp}){${default_initializer}}, sizeof(${styp})); // global 4'
 			} else {
 				if field.name !in ['as_cast_type_indexes', 'g_memory_block', 'global_allocator'] {
 					decls := g.type_default_vars.str()
 					if decls != '' {
 						init = '\t${decls}'
 					}
-					init += '\t${field.name} = *(${styp}*)&((${styp}[]){${default_initializer}}[0]); // global'
+					init += '\t${field.name} = *(${styp}*)&((${styp}[]){${default_initializer}}[0]); // global 5'
 				}
 			}
 		}
-		def_builder.writeln('; // global4')
+		def_builder.writeln('; // global 6')
 		g.global_const_defs[util.no_dots(field.name)] = GlobalConstDef{
 			mod:       node.mod
 			def:       def_builder.str()
diff --git a/vlib/v/gen/c/live.v b/vlib/v/gen/c/live.v
index 5bf52521dea620..4f9aacfd1d8968 100644
--- a/vlib/v/gen/c/live.v
+++ b/vlib/v/gen/c/live.v
@@ -41,15 +41,21 @@ fn (mut g Gen) generate_hotcode_reloader_code() {
 		mut load_code := []string{}
 		if g.pref.os != .windows {
 			for so_fn in g.hotcode_fn_names {
-				load_code << 'impl_live_${so_fn} = dlsym(live_lib, "impl_live_${so_fn}");'
+				load_code << '\timpl_live_${so_fn} = dlsym(live_lib, "impl_live_${so_fn}");'
 			}
+			load_code << 'void (* fn_set_live_reload_pointer)(void *) = (void *)dlsym(live_lib, "set_live_reload_pointer");'
 			phd = posix_hotcode_definitions_1
 		} else {
 			for so_fn in g.hotcode_fn_names {
-				load_code << 'impl_live_${so_fn} = (void *)GetProcAddress(live_lib, "impl_live_${so_fn}");  '
+				load_code << '\timpl_live_${so_fn} = (void *)GetProcAddress(live_lib, "impl_live_${so_fn}");  '
 			}
+			load_code << 'void (* fn_set_live_reload_pointer)(void *) = (void *)GetProcAddress(live_lib, "set_live_reload_pointer");'
 			phd = windows_hotcode_definitions_1
 		}
+		// Ensure that g_live_reload_info from the executable is passed to the DLL .
+		// See also vlib/v/live/sharedlib/live_sharedlib.v .
+		load_code << 'if(fn_set_live_reload_pointer){ fn_set_live_reload_pointer( g_live_reload_info ); }'
+
 		g.hotcode_definitions.writeln(phd.replace('@LOAD_FNS@', load_code.join('\n')))
 	}
 }
@@ -107,9 +113,9 @@ fn (mut g Gen) generate_hotcode_reloading_main_caller() {
 		idx++
 	}
 	g.writeln('')
-	// g_live_info gives access to the LiveReloadInfo methods,
+	// g_live_reload_info gives access to the LiveReloadInfo methods,
 	// to the custom user code, through calling v_live_info()
-	g.writeln('\t\tg_live_info = (void*)live_info;')
+	g.writeln('\t\tg_live_reload_info = (void*)live_info;')
 	g.writeln('\t\tv__live__executable__start_reloader(live_info);')
 	g.writeln('\t}\t// end of live code initialization section')
 	g.writeln('')
diff --git a/vlib/v/live/common.c.v b/vlib/v/live/common.c.v
index 9ba61c3bd9f704..d3ba3358442df7 100644
--- a/vlib/v/live/common.c.v
+++ b/vlib/v/live/common.c.v
@@ -48,19 +48,13 @@ pub mut:
 // live.info - give user access to program's LiveReloadInfo struct,
 // so that the user can set callbacks, read meta information, etc.
 pub fn info() &LiveReloadInfo {
-	if C.g_live_info != 0 {
-		return unsafe { &LiveReloadInfo(C.g_live_info) }
+	if g_live_reload_info == 0 {
+		// When the current program is not compiled with -live, simply
+		// return a new empty struct LiveReloadInfo in order to prevent
+		// crashes. In this case, the background reloader thread is not
+		// started, and the structure LiveReloadInfo will not get updated.
+		// All its fields will be 0, but still safe to access.
+		g_live_reload_info = &LiveReloadInfo{}
 	}
-	// When the current program is not compiled with -live, simply
-	// return a new empty struct LiveReloadInfo in order to prevent
-	// crashes. In this case, the background reloader thread is not
-	// started, and the structure LiveReloadInfo will not get updated.
-	// All its fields will be 0, but still safe to access.
-	mut x := &LiveReloadInfo{}
-	unsafe {
-		mut p := &u64(&C.g_live_info)
-		*p = &u64(x)
-		_ = p
-	}
-	return x
+	return unsafe { &LiveReloadInfo(g_live_reload_info) }
 }
diff --git a/vlib/v/live/executable/reloader.c.v b/vlib/v/live/executable/reloader.c.v
index 8868fe4d748ef1..f5259df0f66038 100644
--- a/vlib/v/live/executable/reloader.c.v
+++ b/vlib/v/live/executable/reloader.c.v
@@ -16,7 +16,7 @@ pub fn new_live_reload_info(original string, vexe string, vopts string, live_fn_
 		so_extension = '.dylib'
 	}
 	// $if msvc { so_extension = '.dll' } $else { so_extension = '.so' }
-	return &live.LiveReloadInfo{
+	res := &live.LiveReloadInfo{
 		original:         original
 		vexe:             vexe
 		vopts:            vopts
@@ -28,6 +28,8 @@ pub fn new_live_reload_info(original string, vexe string, vopts string, live_fn_
 		reloads:          0
 		reload_time_ms:   0
 	}
+	elog(res, @FN)
+	return res
 }
 
 // Note: start_reloader will be called by generated code inside main(), to start
@@ -35,6 +37,7 @@ pub fn new_live_reload_info(original string, vexe string, vopts string, live_fn_
 // the original main thread.
 @[markused]
 pub fn start_reloader(mut r live.LiveReloadInfo) {
+	elog(r, @FN)
 	// The shared library should be loaded once in the main thread
 	// If that fails, the program would crash anyway, just provide
 	// an error message to the user and exit:
@@ -62,7 +65,7 @@ pub fn add_live_monitored_file(mut lri live.LiveReloadInfo, path string) {
 
 @[if debuglive ?]
 fn elog(r &live.LiveReloadInfo, s string) {
-	eprintln(s)
+	eprintln('> debuglive r: ${voidptr(r)} &g_live_reload_info: ${voidptr(&g_live_reload_info)} | g_live_reload_info: ${voidptr(g_live_reload_info)} ${s}')
 }
 
 fn compile_and_reload_shared_lib(mut r live.LiveReloadInfo) !bool {
diff --git a/vlib/v/live/live_test.v b/vlib/v/live/live_test.v
index da2b51b30071bd..a708f21d5afc48 100644
--- a/vlib/v/live/live_test.v
+++ b/vlib/v/live/live_test.v
@@ -36,7 +36,7 @@ const vtmp_folder = os.join_path(os.vtmp_dir(), 'live_tests')
 const main_source_file = os.join_path(vtmp_folder, 'main.v')
 const tmp_file = os.join_path(vtmp_folder, 'mymodule', 'generated_live_module.tmp')
 const source_file = os.join_path(vtmp_folder, 'mymodule', 'mymodule.v')
-const genexe_file = os.join_path(vtmp_folder, 'generated_live_program')
+const genexe_file = os.join_path(vtmp_folder, 'generated_live_program.exe')
 const output_file = os.join_path(vtmp_folder, 'generated_live_program.output.txt')
 const res_original_file = os.join_path(vtmp_folder, 'ORIGINAL.txt')
 const res_changed_file = os.join_path(vtmp_folder, 'CHANGED.txt')
@@ -46,7 +46,7 @@ const live_program_source = get_source_template()
 
 fn get_source_template() string {
 	src := os.read_file(os.join_path(os.dir(@FILE), 'live_test_template.vv')) or { panic(err) }
-	return src.replace('#OUTPUT_FILE#', output_file)
+	return src.replace('#OUTPUT_FILE#', output_file.replace('\\', '\\\\'))
 }
 
 fn atomic_write_source(source string) {
@@ -168,19 +168,30 @@ fn setup_cycles_environment() {
 	os.setenv('WAIT_CYCLES', '${max_wait_cycles}', true)
 }
 
-//
+fn run_in_background(cmd string) {
+	spawn fn (cmd string) {
+		res := os.execute(cmd)
+		if res.exit_code != 0 {
+			eprintln('----------------------- background command failed: --------------------------')
+			eprintln('----- exit_code: ${res.exit_code}, cmd: ${cmd}, output:')
+			eprintln(res.output)
+			eprintln('-----------------------------------------------------------------------------')
+		}
+		assert res.exit_code == 0
+	}(cmd)
+	time.sleep(1000 * time.millisecond)
+	eprintln('... run_in_background, cmd: ${cmd}')
+}
+
 fn test_live_program_can_be_compiled() {
 	setup_cycles_environment()
 	eprintln('Compiling...')
 	compile_cmd := '${os.quoted_path(vexe)} -cg -keepc -nocolor -live -o ${os.quoted_path(genexe_file)} ${os.quoted_path(main_source_file)}'
 	eprintln('> compile_cmd: ${compile_cmd}')
-	os.system(compile_cmd)
-
-	cmd := '${os.quoted_path(genexe_file)} > /dev/null &'
-	eprintln('Running with: ${cmd}')
-	res := os.system(cmd)
-	assert res == 0
-	eprintln('... running in the background')
+	time.sleep(1000 * time.millisecond) // improve chances of working on windows
+	compile_res := os.system(compile_cmd)
+	assert compile_res == 0
+	run_in_background('${os.quoted_path(genexe_file)}')
 	wait_for_file('ORIGINAL')
 }
 
diff --git a/vlib/v/live/sharedlib/live_sharedlib.v b/vlib/v/live/sharedlib/live_sharedlib.v
index e19b418b827483..819445235104f9 100644
--- a/vlib/v/live/sharedlib/live_sharedlib.v
+++ b/vlib/v/live/sharedlib/live_sharedlib.v
@@ -1,3 +1,19 @@
 module sharedlib
 
 import v.live as _
+
+@[export: 'set_live_reload_pointer']
+@[markused]
+pub fn set_live_reload_pointer(p voidptr) {
+	// NOTE: the `g_live_reload_info` global on windows, in the DLL, has a different address itself,
+	// compared to the g_live_reload_info in the main executable.
+	//
+	// The code here, ensures that *its value* will be the same,
+	// since the executable, will make sure to load the DLL, and then call set_live_reload_pointer()
+	// after binding it, in its generaged `v_bind_live_symbols`, with the value of its own `g_live_reload_info` global.
+	//
+	// This is not necessary on macos and linux, but it is best to have the same code across systems anyway.	
+	// eprintln('>>>>> before &g_live_reload_info: ${voidptr(&g_live_reload_info)} | g_live_reload_info: ${voidptr(g_live_reload_info)}')
+	g_live_reload_info = p
+	// eprintln('>>>>>  after &g_live_reload_info: ${voidptr(&g_live_reload_info)} | g_live_reload_info: ${voidptr(g_live_reload_info)}')
+}