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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (16,317,000) $ (37,519,000) $ (54,434,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities      
Depreciation and amortization 1,420,000 1,450,000 3,533,000
Non-cash compensation expense attributable to stock awards 17,874,000 13,625,000 15,925,000
Deferred income taxes 1,248,000 983,000 124,000
(Gain)/loss from disposal of intangible assets, net (38,399,000) (11,209,000) 3,849,000
Loss from disposal of long-lived assets, net 10,000 107,000 70,000
Impairment of long-lived assets 0 0 85,000
Loss on equity method investment 0 0 39,000
Changes in operating assets and liabilities      
Accounts receivable 0 4,000 57,000
Prepaid expenses and other assets 464,000 (797,000) (745,000)
Right of use assets 676,000 1,053,000 1,407,000
Accounts payable and accrued expenses 101,000 270,000 2,647,000
Due to related parties 413,000 (32,000) 42,000
Restructuring reserve 0 0 (636,000)
Operating lease liabilities (1,042,000) (1,382,000) (1,674,000)
Contingent liability 249,000 0 20,000,000
Deferred revenue 6,081,000 51,695,000 (483,000)
Other liabilities (28,000) (335,000) 235,000
Net cash (used in) provided by operating activities (27,250,000) 17,913,000 (9,959,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of intangible assets, including refundable deposits (25,004,000) (26,358,000) (13,944,000)
Purchases of equipment (2,126,000) (1,053,000) (230,000)
Net cash used in investing activities (27,130,000) (27,411,000) (14,174,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from stock option exercises 1,726,000 14,004,000 4,218,000
Repurchase of common stock (8,223,000) (14,962,000) 0
Payments of withholding tax on net issuance of restricted stock (1,565,000) (1,458,000) 0
Net cash (used in) provided by financing activities (8,062,000) (2,416,000) 4,218,000
Net change in cash and cash equivalents (62,442,000) (11,914,000) (19,915,000)
CASH AND CASH EQUIVALENTS      
Beginning of the year 105,624,000 117,538,000 137,453,000
End of the year $ 43,182,000 $ 105,624,000 $ 117,538,000