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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (41,820) $ (38,927)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,770 8,020
Interest paid in kind 33 29
Stock-based compensation 11,282 12,027
Change in fair value of bifurcated embedded derivatives (977) 14
Amortization of debt discount 1,433 824
Deferred income taxes (359) (103)
Change in fair value of contingent consideration liability 2,174
Loss on extinguishment of debt 5,180
Gain on bargain purchase (511)
Changes in operating assets and liabilities:    
Accounts receivable 3,426 525
Prepaid expenses and other current assets (1,288) 50
Inventories 32
Deferred revenue 278 (1)
Accounts payable and accrued liabilities 2,328 13,159
Net cash used in operating activities (9,508) (4,894)
Cash Flows from Investing Activities:    
Purchases of property and equipment (3,209) (2,575)
Cash acquired in acquisition of PodcastOne 1,286
Cash acquired in acquisition of CPS 1,132
Cash acquired in acquisition of React Presents 138
Net cash used in investing activities (791) (2,437)
Cash Flows from Financing Activities:    
Repayment of senior secured convertible debentures payable (10,823) (2,984)
Proceeds from senior secured convertible notes and issuance of shares of common stock 15,000
Proceeds from notes payable 2,742
Debt issuance costs (190)
Proceeds from issuance of shares of common stock 7,534 9,523
Proceeds from exercise of stock options 2,559
Payments on capital lease liability (190)
Senior secured convertible debenture amendment costs (710)
Net cash provided by financing activities 16,632 5,829
Net increase (decrease) in cash, cash equivalents and restricted cash 6,333 (1,502)
Cash, cash equivalents and restricted cash, beginning of period 12,437 13,939
Cash, cash equivalents and restricted cash, end of period 18,770 12,437
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 17
Cash paid for interest 969 1,517
Supplemental disclosure of non-cash investing and financing activities:    
Conversion features recorded as debt discount 130
Fair value of 1,080,000 shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes 1,861
Fair value of options issued to employees, capitalized as internally-developed software 241 378
Fair value of 5,566,885 shares of common stock issued in connection with PodcastOne acquisition 14,991
Fair value of 2,230,769 shares of common stock issued in connection with CPS acquisition 6,391
Non-cash settlement for issuable or prepaid shares 283
2,782,116 shares of common stock issued to consultant and vendors to settle accounts payable 8,816
Common stock issued to senior secured convertible debenture holders 560
Fair value of promissory note issued in React Presents acquisition $ 1,541