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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Mar. 31, 2021
Current assets    
Cash and cash equivalents $ 13,062 $ 16,849
Accounts receivable, net of allowance of $2,921 and $2,876, respectively 30,843 21,093
Inventory 116 166
Unbilled revenue 2,349 1,377
Prepaid and other current assets 5,793 3,657
Total current assets 52,163 43,142
Restricted cash 1,000
Equity investment in A Metaverse Company, a related party, at fair value 7,028 6,443
Property and equipment, net 1,980 3,500
Operating lease right-of use assets, net 749 100
Intangible assets, net 20,034 9,860
Goodwill 21,084 8,701
Other long-term assets 1,598 2,700
Total assets 104,636 75,446
Current liabilities    
Accounts payable and accrued expenses 52,025 46,627
Current portion of notes payable, including unamortized debt discount and debt issuance costs of $0 and $460, respectively (see Note 5) 1,956
Current portion of notes payable, non-recourse including unamortized debt discount of $0 and $763, respectively (see Note 5) 7,786
Current portion of deferred consideration on purchase of business 3,432
Current portion of earnout consideration on purchase of business 1,081
Operating lease liabilities 258 87
Current portion of deferred revenue 196 924
Total current liabilities 56,992 57,380
Note payable 2,152
Deferred consideration on purchase – net of current portion 5,600
Earnout consideration on purchase – net of current portion 603
Operating lease liabilities, net of current portion 491 13
Other long-term liabilities 19
Total liabilities 63,686 59,564
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 7 shares issued and outstanding at March 31, 2022 and 2021. Liquidation preference of $3,648 3,559 3,559
Common stock, $0.001 par value; Class A stock 275,000,000 and 200,000,000 shares authorized at March 31, 2022 and 2021, respectively, 176,629,435 and 167,542,404 shares issued and 175,313,584 and 166,228,568 shares outstanding at March 31, 2022 and 2021, respectively. 174 164
Additional paid-in capital 522,601 499,272
Treasury stock, at cost; 1,315,851 and 1,313,836 Class A common shares at March 31, 2022 and 2021, respectively. (11,608) (11,603)
Accumulated deficit (472,310) (474,080)
Accumulated other comprehensive loss (163) (68)
Total stockholders’ equity of Cinedigm Corp. 42,253 17,244
Deficit attributable to noncontrolling interest (1,303) (1,362)
Total equity 40,950 15,882
Total liabilities and equity $ 104,636 $ 75,446