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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (43,912) $ (41,820)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,624 8,770
Interest paid in kind 35 33
Stock-based compensation 12,703 11,282
Change in fair value of bifurcated embedded derivatives (113) (977)
Amortization of debt discount 1,244 1,433
Deferred income taxes 160 (359)
Change in fair value of contingent consideration liability (145) 2,174
Debt conversion expense 756
Loss on extinguishment of debt 4,321 5,180
Forgiveness of PPP loans (3,110)
Changes in operating assets and liabilities:    
Accounts receivable (3,116) 3,426
Prepaid expenses and other current assets 1,161 (1,288)
Inventories (31) 32
Other assets 328
Deferred revenue (155) 278
Accounts payable and accrued liabilities 10,826 2,328
Other liabilities 301
Net cash used in operating activities (9,123) (9,508)
Cash Flows from Investing Activities:    
Purchases of property and equipment (3,744) (3,209)
Purchase of intangible assets (85)
Cash acquired in acquisition of PodcastOne 1,286
Cash acquired in acquisition of CPS 1,132
Acquisition of Gramophone (150)
Net cash used in investing activities (3,979) (791)
Cash Flows from Financing Activities:    
Repayment of senior secured convertible debentures payable (10,823)
Proceeds from senior secured convertible notes and issuance of shares of common stock 15,000
(Repayment) proceeds from notes payable (351) 2,742
Debt issuance costs (190)
Proceeds from issuance of shares of common stock 7,534
Proceeds from exercise of stock options 872 2,559
Payments on capital lease liability (190)
Proceeds from line of credit 6,965
Net cash provided by financing activities 7,486 16,632
Net change in cash, cash equivalents and restricted cash (5,616) 6,333
Cash, cash equivalents and restricted cash, beginning of period 18,770 12,437
Cash, cash equivalents and restricted cash, end of period 13,154 18,770
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 25
Cash paid for interest 1,468 969
Supplemental disclosure of non-cash investing and financing activities:    
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 related party unsecured convertible notes 122
Fair value of 1,155,143 shares of common stock issued upon conversion of unsecured convertible notes 3,045
Fair value of 1,248,797 and 1,080,000 shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes 3,484 1,861
Fair value of options issued to employees, capitalized as internally-developed software 196 241
Fair value of 5,566,885 shares of common stock issued in connection with PodcastOne acquisition 14,991
Fair value of 791,398 and 2,230,769 shares of common stock issued in connection with CPS acquisition 2,127 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
Fair value of unsecured convertible note premium 4,199
Fair value of 79,365 shares of common stock issued in connection with the Gramophone acquisition $ 89