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v3.22.2

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2022
Accounting Policies [Abstract] |
Schedule of cash, cash equivalents and restricted cash |
|  | As of |
(in thousands) |  | March 31, 2022 |  |  | March 31, 2021 |
Cash and Cash Equivalents |  | $ | 13,062 |  |  | $ | 16,849 |
Restricted Cash |  |  | - |  |  |  | 1,000 |
|  | $ | 13,062 |  |  | $ | 17,849 |
Schedule of estimated useful lives of property and equipment |
Computer equipment and software |  |  | 3 - 5 years |
Internal use software |  |  | 5 years |
Digital cinema projection systems |  |  | 10 years |
Machinery and equipment |  |  | 3 - 10 years |
Furniture and fixtures |  |  | 3 - 6 years |
Schedule of amortization expense |
Trademark |  |  | 3 years |
Content Library |  |  | 3 – 20 years |
Customer Relationships |  |  | 5 – 13 years |
Tradename |  |  | 2 – 15 years |
Theatre Relationship |  |  | 12 years |
Patents |  |  | 3 years |
Supplier Agreements |  |  | 2 years |
Intangible Assets |  |  | 3-4 years |
Software |  |  | 10 years |
Schedule of intangible assets |
|  | Cost Basis |  |  | Accumulated Amortization |  |  | Impairment |  |  | Net |
Trademark |  | $ | 1,925 |  |  | $ | (776 | ) |  | $ | - |  |  |  | 1,149 |
Content Library |  |  | 23,685 |  |  |  | (20,665 | ) |  |  | - |  |  |  | 3,020 |
Customer Relationships |  |  | 10,658 |  |  |  | (7,327 | ) |  |  | (1,968 | ) |  |  | 1,363 |
Tradename |  |  | 2,101 |  |  |  | (525 | ) |  |  | - |  |  |  | 1,576 |
Theatre Relationship |  |  | 550 |  |  |  | (550 | ) |  |  | - |  |  |  | - |
Patents |  |  | 17 |  |  |  | (17 | ) |  |  | - |  |  |  | - |
Supplier Agreements |  |  | 11,430 |  |  |  | (11,384 | ) |  |  | - |  |  |  | 46 |
Intangible Assets |  |  | 10,081 |  |  |  | (161 | ) |  |  | - |  |  |  | 9,920 |
Software |  |  | 3,200 |  |  |  | (240 | ) |  |  | - |  |  |  | 2,960 |
Total Intangible Assets |  | $ | 63,647 |  |  | $ | (41,645 | ) |  | $ | (1,968 | ) |  |  | 20,034 |
|  | Cost Basis |  |  | Accumulated Amortization |  |  | Impairment |  |  | Net |
Trademark |  | $ | 2,839 |  |  | $ | (382 | ) |  | $ | - |  |  |  | 2,457 |
Content Library |  |  | 23,148 |  |  |  | (20,272 | ) |  |  | - |  |  |  | 2,876 |
Customer Relationships |  |  | 22,137 |  |  |  | (17,610 | ) |  |  | - |  |  |  | 4,527 |
Theatre Relationship |  |  | 550 |  |  |  | (550 | ) |  |  | - |  |  |  | - |
Total Intangible Assets |  | $ | 48,674 |  |  | $ | (38,814 | ) |  | $ | - |  |  |  | 9,860 |
Schedule of amortization expense for intangible assets |
|  | Total |
2023 |  | $ | 2,734 |
2024 |  |  | 2,562 |
2025 |  |  | 1,730 |
2026 |  |  | 1,651 |
2027 |  |  | 1,651 |
Thereafter |  |  | 9,706 |
Total |  | $ | 20,034 |
Schedule of fair value measurements of our financial assets and liabilities |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Equity investment in Metaverse, at fair value |  | $ | 7,028 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,028 |
|  | $ | 7,028 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,028 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of earnout consideration on purchase of a business |  | $ | — |  |  | $ | — |  |  | $ | 1,081 |  |  | $ | 1,081 |
Long term portion of earnout consideration on purchase of a business |  |  | — |  |  |  | — |  |  |  | 603 |  |  |  | 603 |
|  | $ | — |  |  | $ | — |  |  | $ | 1,684 |  |  | $ | 1,684 |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Restricted cash |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |
Equity investment in Metaverse, at fair value |  |  | 6,443 |  |  |  | — |  |  |  | — |  |  |  | 6,443 |
|  | $ | 7,443 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,443 |
Schedule of goodwill and accumulated impairment charges |
(In thousands) |  |  |
Goodwill at March 31, 2021 |  | $ | 8,701 |
Goodwill from business combinations – see Note 4 |  |  | 12,383 |
Goodwill at March 31, 2022 |  | $ | 21,084 |
Schedule of accounts payable and accrued expenses |
|  | As of |
(In thousands) |  | March 31, 2022 |  |  | March 31, 2021 |
Accounts payable |  | $ | 34,177 |  |  | $ | 30,111 |
Amounts due to producers, net |  |  | 10,430 |  |  |  | 10,557 |
Accrued compensation and benefits |  |  | 3,507 |  |  |  | 2,995 |
Accrued taxes (refund) payable |  |  | (78 | ) |  |  | (99 | )
Interest payable |  |  | - |  |  |  | 10 |
Accrued other expenses |  |  | 3,989 |  |  |  | 3,053 |
Total accounts payable and accrued expenses |  | $ | 52,025 |  |  | $ | 46,627 |
Schedule of prepaid and other current assets |
|  | As of |
(In thousands) |  | March 31, 2022 |  |  | March 31, 2021 |
Non-trade accounts receivable |  | $ | 826 |  |  | $ | 413 |
Advances |  |  | 2,117 |  |  |  | 1,841 |
Due from producers |  |  | 1,861 |  |  |  | 589 |
Prepaid insurance |  |  | 169 |  |  |  | 409 |
Other prepaid expenses |  |  | 820 |  |  |  | 405 |
Total prepaid and other current assets |  | $ | 5,793 |  |  | $ | 3,657 |
Schedule of revenue categories |
|  | Year Ended March 31, |
|  | 2022 |  |  | 2021 |
Cinema Equipment Business: |  |  |  |  |  |
Phase I Deployment |  | $ | 654 |  |  | $ | 552 |
Phase II Deployment |  |  | 4,810 |  |  |  | 1,531 |
Services |  |  | 1,428 |  |  |  | 539 |
Digital System Sales |  |  | 11,267 |  |  |  | 600 |
Total Cinema Equipment Business revenue |  | $ | 18,159 |  |  | $ | 3,222 |
Content & Entertainment Business: |  |  |  |  |  |  |  |
Physical Goods |  | $ | 10,447 |  |  | $ | 10,230 |
OTT Streaming and Digital |  |  | 27,448 |  |  |  | 17,967 |
Total Content & Entertainment Business revenue |  | $ | 37,895 |  |  | $ | 28,197 |

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