XML 32 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Related Party Transactions
 9 Months Ended
Dec. 31, 2022
Related Party Transactions [Abstract]  
Related Party Transactions

Note 13 — Related Party Transactions

 

As of December 31, 2022 and March 31, 2022, the Company had unsecured convertible Trinad Notes outstanding which were issued to Trinad Capital as described in Note 10 – Unsecured Convertible Notes. In February 2023, the Trinad Notes along with accrued interest were converted into Series A Preferred Stock in addition to 200,000 shares of common stock (See Note 21 – Subsequent Events).

 

During the nine months ended December 2022, a subsidiary of the Company issued a promissory note in the amount of $300,000 in consideration of a loan in the same amount made to such subsidiary by an affiliate of Robert Ellin, the Company’s Chief Executive Officer, Chairman, director and principal stockholder, which loan matured on October 17, 2022. The loan was repaid in October 2022.