XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:            
Net loss $ (7,927) $ (3,409) $ (8,422) $ (2,061) $ (8,422) $ (2,061)
Adjustments to reconcile net loss to net cash used in operating activities:            
Depreciation and amortization     2,298 4,611    
Interest paid in kind     269 200    
Stock-based compensation     3,594 2,184    
Amortization of debt discount     1,110 1,261    
Change in fair value of bifurcated embedded derivatives     3,977 (571)    
Change in fair value of contingent consideration liabilities, reported in earnings     174 (2,220)    
Settlement of accrued expenses     0 (6,158)    
Provision for credit loss     132 0    
Impairment of intangible assets     0 1,356    
Changes in operating assets and liabilities:            
Accounts receivable     (3,658) 729    
Prepaid expenses and other current assets     (412) (992)    
Inventories     316 (270)    
Other assets     221 155    
Deferred revenue     (112) (144)    
Accounts payable and accrued liabilities     (1,548) (6,767)    
Accrued royalties     2,016 1,890    
Net cash used in operating activities     (45) (6,797)    
Cash Flows from Investing Activities:            
Purchases of property and equipment     (1,264) (1,254)    
Purchases of intangible assets     (536) (24)    
Net cash used in investing activities     (1,800) (1,278)    
Cash Flows from Financing Activities:            
Payment on PodcastOne bridge loan     (3,000) 0    
Proceeds from notes payable     1,700 0    
Payments on Capchase loan     (113) 0    
Proceeds from PodcastOne bridge loan     0 4,376    
Payment of contingent consideration     0 (426)    
Proceeds from notes payable - related party     0 300    
Proceeds from exercise of stock options     8 0    
Purchase of treasury stock     (1,588) (1,938)    
Net cash (used in) provided by financing activities     (2,993) 2,312    
Net change in cash, cash equivalents and restricted cash     (4,838) (5,763)    
Cash, cash equivalents and restricted cash, beginning of period     8,649 13,154    
Cash, cash equivalents and restricted cash, end of period 3,811 7,391 3,811 7,391 3,811 7,391
Supplemental disclosure of cash flow information:            
Cash paid for income taxes     0 0    
Cash paid for interest     641 825    
Supplemental disclosure of non-cash investing and financing activities:            
Conversion of the bridge loan into PodcastOne common stock     4,752 0    
Fair value of warrant and derivative liability issued with debt instruments 0 2,845 0 2,845 0 2,845
Fair value of 414,137 shares of common stock issuable in connection with settlement of earnout   493 0 493    
Fair value of 1,000,000 shares of common stock issuable in connection with the modification of debt instruments   1,142 0 1,142    
Stock Issued During Period, Value, Settlement of Accrued Expenses   945 0 945    
PodcastOne warrants reclassified from liabilities to non-controlling interest $ 5,896 $ 1,604 5,896 1,604 $ 5,896 $ 1,604
Common stock issued for prepaid services     322 0    
Purchase of intangible assets accrued for at period end     851 0    
Purchase of intangible assets with common stock     917 0    
Fair value of options issued to employees, capitalized as internally-developed software     $ 0 $ 26