XML 32 R15.htm IDEA: XBRL DOCUMENT
v3.23.1

Related Party Transactions | 12 Months Ended
--- | ---
Mar. 31, 2023
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions In connection with the transfer of its TeamConnect business and support for its pdvConnect business, the Company entered into a memorandum of understanding (“MOU”) with the principals of Goosetown on December 31, 2018. Under the MOU, the Company agreed to assign the intellectual property rights to its pdvConnect application to TeamConnect LLC (“LLC”), a new entity formed by the principals of Goosetown, in exchange for a 19.5% ownership interest in the LLC, effective April 30, 2019. Under the terms of the MOU, the Company was obligated to pay the LLC a monthly service fee for a 24-month period ending on January 7, 2021 for its assumption of the Company’s support obligations under the A BEEP and Goosetown Agreements. The Company is also obligated to pay the LLC a certain portion of the billed revenue received by the Company from pdvConnect customers for a 48-month period. On February 22, 2023, the Company amended the LLC agreement to withdraw as a member of the LLC for no consideration. For the years ended March 31, 2023, 2022 and 2021, the Company incurred payments of $55,000, $60,000 and $0.6 million under the MOU, respectively. As of March 31, 2023 and March 31, 2022, the Company did not have outstanding liabilities to the related parties associated with the services transfer. During the year ended March 31, 2023, the Company purchased equipment from Motorola in the amount of $1.4 million. In addition, the Company entered into a Frequency Relocation Agreement with Motorola for a total amount of $1.0 million, of which the Company paid $0.1 million during the year ended March 31, 2023. The Company did not purchase any equipment from Motorola for the years ended March 31, 2022 and 2021. The Company recognized approximately $0.7 million each year in Spectrum revenue for the years ended March 31, 2023, 2022 and 2021. As of March 31, 2023, the Company owed $0.5 million to Motorola in connection with the equipment purchased. As of March 31, 2022, the Company owed $0.1 million to Motorola, unrelated to the Frequency Relocation Agreement. On May 5, 2020, the Company entered into a consulting agreement with Rachelle B. Chong under which Ms. Chong will serve as a Senior Advisor to the Company’s management team effective May 15, 2020. In connection with the consulting agreement, Ms. Chong submitted her resignation from the Board and as a member of the Board’s Nominating and Corporate Governance Committee. For the years ended March 31, 2023, 2022 and 2021, the Company incurred $0.1 million and $0.1 million and $0.1 million, respectively, in consulting fees to Ms. Chong. As of March 31, 2023 and 2022, the Company did not have any outstanding liabilities to Ms. Chong. On June 25, 2020, as part of its Executive Succession Plan (the “Succession Plan”), the Company announced that Brian D. McAuley had submitted his resignation as Executive Chairman of the Board, effective on July 1, 2020. On August 27, 2020, the Company entered into a consulting agreement (the “Consulting Agreement”) with Mr. McAuley under which Mr. McAuley will serve as a Senior Advisor to the Company’s management team and provide strategic, corporate governance and Board advisory services. In July 2022, the Company extended the agreement by an additional 12 months with a new termination date of September 1, 2023. The Consulting Agreement provides that Mr. McAuley will receive cash compensation of $40,000 per year and allow for his outstanding equity awards to continue to vest, unless accelerated pursuant to the terms of the agreement. For the years ended March 31, 2023, 2022 and 2021, the Company incurred approximately $40,000, $40,000 and $23,000, respectively, in consulting fees to Mr. McAuley. As of March 31, 2023 and 2022, the Company did not have any outstanding liabilities to Mr. McAuley.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration