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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income $ 3,763,161 $ 5,010,351
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 22,496,117 19,356,966
Depreciation of property and equipment 163,757 171,431
Share-based compensation 3,339,120 3,333,853
Amortization of deferred financing costs 1,264,839 1,007,360
Loss on fair value of swaps 1,583,543 2,532,441
Loss from equity method investments 358,644 100,000
Gain on disposition of equity investment   (103,715)
Deferred income taxes 1,754,665 1,217,244
Changes in operating assets and liabilities:    
Accounts receivable 793,248 (1,445,197)
Other current assets 1,527 947,422
Royalty advances 1,506,766 3,108,666
Other assets and liabilities 437,041 129,617
Accounts payable, accrued expenses and deferred revenue 1,130,573 (3,355,545)
Royalties payable 416,817 1,435,162
Income taxes payable (780,235) (341,258)
Net cash provided by operating activities 38,229,583 33,104,798
Cash flows from investing activities:    
Purchases of music catalogs (97,895,155) (70,200,677)
Loan to third party   (2,517,896)
Investments in equity affiliates (1,836,788) (100,000)
Sale of equity investment   945,071
Purchases of property and equipment (287,527) (56,870)
Net cash used for investing activities (100,019,470) (71,930,372)
Cash flows from financing activities:    
Proceeds from secured line of credit 79,000,000 50,000,000
Repayments of secured line of credit (15,000,000) (10,000,000)
Proceeds from stock option exercises 13,684 98,875
Taxes paid related to net share settlement of restricted stock units (1,382,793) (1,432,864)
Deferred financing costs paid (1,140,259)  
Acquisition of noncontrolling interests (287,650)  
Distribution to noncontrolling interest holders   (149,701)
Net cash provided by financing activities 61,202,982 38,516,310
Foreign exchange impact on cash (207,881) (62,721)
Decrease in cash and cash equivalents (794,786) (371,985)
Cash and cash equivalents beginning of period 21,386,140 18,132,015
Cash and cash equivalents end of period $ 20,591,354 $ 17,760,030