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Fair Value Measurements (Tables) | 9 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of fair value of financial liabilities are measured at fair value on a recurring basis |
|  | December 31, 2020 |
|  | Fair |  |  | Hierarchy Level |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liability from PodcastOne acquisition |  | $ | 1,061 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,061 |
Initial measurement of contingent consideration from CPS acquisition |  |  | 1,254 |  |  |  | - |  |  |  | - |  |  |  | 1,254 |
Bifurcated embedded derivative on senior secured convertible notes payable |  |  | 251 |  |  |  | - |  |  |  | - |  |  |  | 251 |
Bifurcated embedded derivative on unsecured convertible note payable |  |  | 30 |  |  |  | - |  |  |  | - |  |  |  | 30 |
|  | $ | 2,596 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,596 |
|  | March 31, 2020 |
|  | Fair |  |  | Hierarchy Level |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Bifurcated embedded derivative on senior secured convertible debentures |  | $ | 524 |  |  | $ | - |  |  | $ | - |  |  | $ | 524 |
Bifurcated embedded derivative on unsecured convertible note payable |  |  | 141 |  |  |  | - |  |  |  | - |  |  |  | 141 |
|  | $ | 665 |  |  | $ | - |  |  | $ | - |  |  | $ | 665 |
Schedule of financial liabilities |
|  | Amount |
Balance as of March 31, 2020 |  | $ | 665 |
Initial measurement of contingent consideration from PodcastOne acquisition on July 1, 2020 |  |  | 1,100 |
Initial measurement of contingent consideration from CPS acquisition on December 22, 2020 |  |  | 1,254 |
Initial measurement of embedded derivatives on senior secured convertible notes issued on September 15, 2020 |  |  | 671 |
Adjustments reported in loss on extinguishment of debt |  |  | (228 | )
Fair value adjustments reported in earnings |  |  | (866 | )
Balance as of December 31, 2020 |  | $ | 2,596 |
The following table presents a reconciliation of the Company's financial liabilities that are measured at Level 3 within the fair value hierarchy for the nine months ended December 31, 2019 (in thousands):
|  | Amount |
Balance as of March 31, 2019 |  | $ | 586 |
Total fair value adjustments reported in earnings |  |  | (189 | )
Balance as of December 31, 2019 |  | $ | 397 |
Schedule of derivatives on senior secured convertible debentures |
|  | December 31, |  |  | March 31, |
|  | 2020 |  |  | 2020 |
Bifurcated embedded derivative on senior secured convertible debentures Market yield |  |  | - |  |  |  | 27.4 | %
Bifurcated embedded derivative on senior secured convertible notes payable Market yield |  |  | 19.1 | % |  |  | - |
Bifurcated embedded derivative on unsecured convertible note payable Market yield |  |  | 31.2 | % |  |  | 43.9 | %
Contingent consideration Market yield |  |  | 19.1 | % |  |  | - |
Schedule of fair value measurement option for financial assets or liabilities |
|  | December 31, 2020 |
|  | Carrying |  |  | Hierarchy Level |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 17,353 |  |  | $ | 17,353 |  |  | $ | - |  |  | $ | - |
Restricted cash |  |  | 235 |  |  |  | 235 |  |  |  | - |  |  |  | - |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  | 2,996 |  |  |  | - |  |  |  | - |  |  |  | 2,996 |
Senior secured convertible notes payable, net |  |  | 12,830 |  |  |  | - |  |  |  | - |  |  |  | 17,370 |
Unsecured convertible notes payable related party, net |  |  | 5,393 |  |  |  | - |  |  |  | - |  |  |  | 6,485 |
Unsecured convertible notes, payable net |  |  | 1,887 |  |  |  | - |  |  |  | - |  |  |  | 1,996 |
|  | March 31, 2020 |
|  | Carrying |  |  | Hierarchy Level |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5,702 |  |  | $ | 5,702 |  |  | $ | - |  |  | $ | - |
Restricted cash |  |  | 6,735 |  |  |  | 6,735 |  |  |  | - |  |  |  | - |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable |  |  | 331 |  |  |  | - |  |  |  | - |  |  |  | 331 |
Senior secured convertible debentures, net |  |  | 8,701 |  |  |  | - |  |  |  | - |  |  |  | 9,254 |
Unsecured convertible notes payable related party, net |  |  | 5,114 |  |  |  |  |  |  |  |  |  |  |  | 4,451 |
Unsecured convertible note payable |  |  | 1,539 |  |  |  | - |  |  |  | - |  |  |  | 1,338 |
Schedule of fair value of each of the debentures and unsecured convertible |
|  | December 31, |  |  | March 31, |
|  | 2020 |  |  | 2020 |
Senior secured convertible debentures, net (binomial lattice model): |  |  |  |  |  |
Market yield |  |  | - |  |  |  | 27.4 | %
Senior secured convertible notes payable, net (binomial lattice model): |  |  | 19.1 | % |  |  | - |
Market yield |  |  |  |  |  |  |  |
Unsecured convertible notes payable related party, net (yield model with a Black-Scholes-Merton option pricing model): |  |  |  |  |  |  |  |
Market yield |  |  | 31.2 | % |  |  | 41.6 | %
Unsecured convertible note payable (yield model with a Black-Scholes-Merton option pricing model): |  |  |  |  |  |  |  |
Market yield |  |  | 29.17 | % |  |  | 43.9 | %

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