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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (23,287) $ (17,721)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,794 4,195
Interest paid in kind 35 9
Stock-based compensation 9,931 5,341
Amortization of debt discount 673 691
Change in fair value of bifurcated embedded derivatives (110) (496)
Change in fair value of contingent consideration liability (213) (405)
Forgiveness of PPP Loans (2,511)
Loss on extinguishment of debt 4,321 1,488
Changes in operating assets and liabilities:    
Accounts receivable (4,470) (721)
Prepaid expenses and other current assets (3,793) (2,165)
Inventories (352)
Other assets 183
Deferred revenue 2,718 693
Accounts payable and accrued liabilities 5,100 4,177
Net cash used in operating activities (6,981) (4,914)
Cash Flows from Investing Activities:    
Increase in cash from the acquisition of PodcastOne 1,286
Purchases of property and equipment (1,957) (1,510)
Purchases of intangible assets (85)
Net cash used in investing activities (2,042) (224)
Cash Flows from Financing Activities:    
Repayment of secured convertible debentures (10,823)
Repayment of note payable (351)  
Proceeds from secured convertible notes 13,139
Debt issuance costs (190)
Proceeds from issuance of shares of common stock, net 8,992
Payments on capital lease liability (225) (64)
Proceeds from exercise of stock options 602 481
Proceeds from drawdown on senior secured revolving line of credit 6,965
Proceeds from notes payable 2,145
Net cash provided by financing activities 6,991 13,680
Net change in cash, cash equivalents and restricted cash (2,032) 8,542
Cash, cash equivalents and restricted cash, beginning of period 18,770 12,437
Cash, cash equivalents and restricted cash, end of period 16,738 20,979
Supplemental disclosure of cash flow information:    
Cash paid for income taxes
Cash paid for interest 695 651
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of options issued to employees, capitalized as internally-developed software 148 130
Fair value of 5,363,636 shares of the Company’s common stock issued in connection with the PodcastOne acquisition 14,552
Fair value of 89,613 shares of the Company’s common stock issuable in connection with the PodcastOne acquisition and included in accrued liabilities 243
Fair value of 60,000 shares of common stock issued in connection with Secured Convertible Notes 320
Fair value of 33,654 shares of common stock issued in connection with Unsecured Convertible Notes 122  
Forgiveness of PPP loan 2,511  
Fair value of 2,679,459 shares of common stock issued upon settlement of accounts payable 8,657
Fair value of shares issued in connection with CPS acquisition 2,127
Fair value of unsecured convertible note premium $ 4,199