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Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2024

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following summarizes financial assets and liabilities measured at fair value, by level within the fair value hierarchy:

		September 30, 2024																March 31, 2024
						Fair Value Measurements																Fair Value Measurements
						Using Inputs Considered as																Using Inputs Considered as
		Fair Value				Level 1				Level 2				Level 3				Fair Value				Level 1				Level 2				Level 3
Assets
Short-term investments
Mutual funds		$	1,901,000			$	1,901,000			$	-			$	-			$	1,837,000			$	1,837,000			$	-			$	-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts			-				-				-				-				2,516,000				-				2,516,000				-
Liabilities
Other current liabilities
Deferred compensation			1,901,000				1,901,000				-				-				1,837,000				1,837,000				-				-
Forward foreign currency exchange contracts			4,303,000				-				4,303,000				-				-				-				-				-
Convertible notes, related party
Compound Net Derivative Liability			5,210,000				-				-				5,210,000				7,410,000				-				-				7,410,000

Fair Value Assumptions

The following assumptions were used to determine the fair value of the Compound Net Derivative Liability:

		September 30, 2024				March 31, 2024
Risk free interest rate			3.55	%			4.36	%
Cost of equity			22.00	%			23.20	%
Weighted average cost of capital			13.10	%			14.90	%
Expected volatility of the Company’s common stock			45.00	%			50.00	%
EBITDA volatility			40.00	%			40.00	%

Activity for Level 3 Fair Value Measurements

The following summarizes the activity for Level 3 fair value measurements:

		Three Months Ended								Six Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
Beginning balance		$	4,830,000			$	8,570,000			$	7,410,000			$	8,430,000
Changes in fair value of Compound Net Derivative Liability included in earnings			380,000				390,000				(2,200,000	)			530,000
Ending balance		$	5,210,000			$	8,960,000			$	5,210,000			$	8,960,000

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

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-Topic 820
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
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