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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (13,196) $ (12,010)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 362 338
Non-cash compensation expense attributable to stock awards 4,128 3,296
Deferred income taxes 200 146
Gain from disposal of intangible assets, net (648) 0
Loss on disposal of long-lived assets, net 2 18
Changes in operating assets and liabilities    
Accounts receivable 0 4
Prepaid expenses and other assets 1,180 55
Right of use assets 238 300
Accounts payable and accrued expenses (1,460) (1,206)
Due to related parties 24 (32)
Operating lease liabilities (327) (377)
Deferred revenue (335) (182)
Other liabilities 0 (13)
Net cash used in operating activities (9,832) (9,663)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of intangible assets, including refundable deposits (6,650) (6,191)
Purchases of equipment (6) (156)
Net cash used in investing activities (6,656) (6,347)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from stock option exercises 872 5,371
Repurchase of common stock (2,725) 0
Payments of withholding tax on net issuance of restricted stock (827) 0
Net cash (used in) provided by financing activities (2,680) 5,371
Net change in cash and cash equivalents (19,168) (10,639)
CASH AND CASH EQUIVALENTS    
Beginning of the period 105,624 117,538
End of the period 86,456 106,899
Cash paid during the period:    
Taxes paid 0 0
Non-cash investing activity:    
Network equipment provided in exchange for wireless licenses 4 18
Non-cash financing activities:    
Shares surrendered from stock option exercises $ 0 $ 1,000