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Fair Value Measurements (Tables)
 9 Months Ended
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%