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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net loss $ (10,019) $ (43,912)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,969 9,624
Interest paid in kind 322 35
Stock-based compensation 3,048 12,703
Change in fair value of bifurcated embedded derivatives 523 (113)
Amortization of debt discount 4,179 1,244
Deferred income taxes (6) 160
Change in fair value of contingent consideration liability (2,220) (145)
Debt conversion expense 756
Loss on extinguishment of debt 1,034 4,321
Settlement of accrued expenses (7,649)
Impairment of fixed assets 146
Impairment of intangibles 1,356 0
Forgiveness of PPP loans (3,110)
Changes in operating assets and liabilities:    
Accounts receivable 29 (3,116)
Prepaid expenses and other current assets (1,660) 1,161
Inventories 3 (31)
Other assets 351 328
Deferred revenue (165) (155)
Accounts payable and accrued liabilities (380) 10,826
Other liabilities (704) 301
Net cash used in operating activities (3,843) (9,123)
Cash Flows from Investing Activities:    
Purchases of property and equipment (2,437) (3,744)
Purchase of intangible assets (13) (85)
Acquisition of Gramophone (150)
Net cash used in investing activities (2,450) (3,979)
Cash Flows from Financing Activities:    
Payment of contingent consideration (426)
Proceeds on notes payable – related party 300
Repayment on notes payable – related party (300)
(Repayment) proceeds from notes payable (351)
Proceeds from Bridge Loan 4,376
Purchase of treasury stock (2,162)
Proceeds from exercise of stock options 872
Proceeds from line of credit 6,965
Net cash provided by financing activities 1,788 7,486
Net change in cash, cash equivalents and restricted cash (4,505) (5,616)
Cash, cash equivalents and restricted cash, beginning of year 13,154 18,770
Cash, cash equivalents and restricted cash, end of year 8,649 13,154
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 25
Cash paid for interest 1,931 1,468
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 21,177 shares of Series A-1 preferred stock issued upon conversion of unsecured convertible notes 21,177
Fair value of 2,075,000 and 1,248,797 shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes modification and extinguishment 1,954 3,484
Fair value of options issued to employees, capitalized as internally-developed software 26 196
Fair value of 1,200,878 shares of common stock issued for services 349
Fair value of 791,398 shares of common stock issued in connection with CPS acquisition 2,127
Non-cash settlement of contingent consideration in exchange for 414,137 shares of common stock 493
1,259,188 shares of common stock issued to consultant and vendors to settle accounts payable 945
Fair value of warrant and derivative liabilities issued with debt and equity instruments 3,280
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