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Subsequent Events
9 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 18 — Subsequent Events

 

On January 31, 2020, the Company modified certain financial liquidity covenants in its Debentures. The amendment went effective retroactive to December 31, 2019 (see Note 8 — Senior Secured Convertible Debentures). In addition, the Company issued 400,000 shares of its common stock to the holders of Debentures in exchange for the Debentures in the principal amount of $10,000, originally issued by the Company on June 29, 2018, as sole consideration for the shares, sufficient to qualify for an exemption under Section 5 of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 3(a)(9) thereof and accompanying removal of applicable restrictions under the Securities Act pursuant to Rule 144. Any sale of such shares shall be subject to a percentage limitation of the daily trading volume.

 

Subsequent to the period end, on February 5, 2020, the Company acquired 100% of the membership interests of React Presents, LLC ("React"), and indirectly Spring Awakening, LLC, which is a wholly owned subsidiary of React.