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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (45) $ (23,839)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 455 734
Non-cash compensation expense attributable to stock awards 8,103 8,819
Deferred income taxes 373 403
Gain on disposal of intangible assets, net (19,298) (3,553)
Gain on sale of intangible assets, net (7,332) 0
Loss on disposal of long-lived assets, net 36 22
Changes in operating assets and liabilities    
Prepaid expenses and other assets 788 1,263
Right of use assets 545 518
Accounts payable and accrued expenses 374 (1,132)
Due to related parties (533) 0
Operating lease liabilities (759) (699)
Contingent Liability 0 249
Deferred revenue 19,506 (733)
Net cash provided by (used in) operating activities 2,213 (17,948)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of intangible assets, including refundable deposits (10,077) (11,228)
Proceeds from sale of spectrum 25,178 0
Purchases of equipment (212) (1,145)
Net cash provided by (used in) investing activities 14,889 (12,373)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from stock option exercises 7 872
Repurchase of common stock (10,735) (4,725)
Payments of withholding tax on net issuance of restricted stock (1,022) (1,336)
Net cash used in financing activities (11,750) (5,189)
Net change in cash and cash equivalents 5,352 (35,510)
CASH AND CASH EQUIVALENTS    
Beginning of the period 43,182 105,624
End of the period 48,534 70,114
Cash paid during the period:    
Taxes paid 1 12
Non-cash investing activity:    
Network equipment provided in exchange for wireless licenses 568 29
Deferred gain on sale of intangible assets 4,889 0
Derecognition of contingent liability related to sale of intangible assets $ 18,840 $ 0