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Subsequent Events | 3 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | Note 18 — Subsequent Events Shares Repurchase Subsequent to June 30, 2023 and as of August 14, 2023, the Company repurchased 60,180 shares of its common stock at an average price of $1.85 per share. In July 2023, the Company’s board of directors approved an increase of $2.0 million to the share repurchase program. Guru Fantasy Reports Letter of Intent On June 20, 2023, LiveXLive entered into a binding letter of intent to acquire Guru Fantasy Reports, Inc. (“Guru Reports”) in consideration of $3.5 million, plus such additional consideration as may be required pursuant the letter of intent, to be paid in shares of common stock of PodcastOne, with the closing of the acquisition subject to standard and other closing conditions as set forth therein. If completed, the number of shares of common stock of PodcastOne will be based on a price of $8.00 per share. As of August 14, 2023, this proposed acquisition has not been completed. Loan and Security Agreement In August 2023, the Company entered into a Loan and Security Agreement with Capchase Inc. (“Capchase”) pursuant to which the Company borrowed the amount of $1.7 million to further develop and acquire certain podcasts acquired by PodcastOne and for general working capital. The debt is subordinated to the Revolving Credit Facility and bears an interest rate of 9%, which is included in the monthly amortization payments of approximately $73,100, with the final amortization payment due on February 4, 2026.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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