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INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of income tax expense:

		For the Fiscal Year Ended March 31,
(In thousands)		2020				2019
Federal:
Current		$	—			$	—
Deferred		—				—
Total federal		—				—
State:
Current		313				295
Deferred		—				—
Total State		313				295
Income tax expense		$	313			$	295

Schedule of Deferred Tax Assets and Liabilities

Net deferred taxes consisted of the following:    

		As of March 31,
(In thousands)		2020				2019
Deferred tax assets:
Net operating loss carryforwards		$	7,549			$	6,877
Stock-based compensation		2,666				2,468
Intangibles		6,162				6,293
Accrued liabilities		1,162				1,345
Allowance for doubtful accounts		1,540				1,279
Capital loss carryforwards		—				2,247
Interest expense		2,821				1,368
Other		359				430
Total deferred tax assets before valuation allowance		22,259				22,307
Less: Valuation allowance		(17,614		)		(19,084		)
Total deferred tax assets after valuation allowance		$	4,645			$	3,223
Deferred tax liabilities:
Depreciation and amortization		$	(1,398	)		$	(3,223	)
Equity investment in Starrise, a related party		(3,247		)		—
Total deferred tax liabilities		(4,645		)		(3,223		)
Net deferred tax		$	—			$	—

Schedule of Effective Income Tax Rate Reconciliation

The differences between the United States statutory federal tax rate and our effective tax rate are as follows:

	For the fiscal years ended March 31,
	2020			2019
Provision at the U.S. statutory federal tax rate	21.0	%		21.0	%
State income taxes, net of federal benefit	(0.1	)%		2.1	%
Change in valuation allowance	(9.9	)%		(20.1	)%
Non-deductible expenses	(3.4	)%		(5.7	)%
Net operating loss decrease under IRC 382	(10.2	)		—	%
Effect of tax reform	—			—	%
Losses from non-consolidated entities	0.4	%		0.8	%
Other	—			—	%
Income tax expense	(2.2	)%		(1.9	)%

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-SubTopic 10
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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