XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net loss $ (10,666) $ (4,609)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,668 7,025
Interest paid in kind 269 320
Stock-based compensation 5,419 2,544
Amortization of debt discount 1,110 2,652
Change in fair value of bifurcated embedded derivatives 4,132 (732)
Change in fair value of contingent consideration liabilities, reported in earnings 174 (2,220)
Accretion on preferred stock 106 0
Settlement of accrued expenses 0 (7,649)
Provision for credit loss 509 0
Impairment of fixed assets 2 146
Impairment of intangible assets 115 1,356
Changes in operating assets and liabilities:    
Accounts receivable (2,908) (198)
Prepaid expenses and other current assets 1,312 (1,544)
Inventories 504 2
Other assets 255 221
Deferred revenue (204) (168)
Accounts payable and accrued liabilities (3,599) (3,057)
Accrued royalties 3,606 1,284
Net cash provided by (used in) operating activities 3,804 (4,627)
Cash Flows from Investing Activities:    
Purchases of property and equipment (2,092) (2,036)
Purchases of intangible assets (688) (13)
Net cash used in investing activities (2,780) (2,049)
Cash Flows from Financing Activities:    
Payment on PodcastOne bridge loan (3,000) 0
Repayment on notes payable (227) (426)
Proceeds from notes payable 1,700 0
Proceeds from PodcastOne bridge loan 0 4,376
Proceeds from notes payable - related party 0 300
Payments of notes payable - related party 0 (300)
Proceeds from exercise of stock options 8 0
Purchase of treasury stock (1,701) (1,938)
Net cash (used in) provided by financing activities (3,220) 2,012
Net change in cash, cash equivalents and restricted cash (2,196) (4,664)
Cash, cash equivalents and restricted cash, beginning of period 8,649 13,154
Cash, cash equivalents and restricted cash, end of period 6,453 8,490
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 37 0
Cash paid for interest 869 1,294
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of the bridge loan into PodcastOne common stock 4,752 0
Accrual of dividends 2,016 0
Fair value of warrant and derivative liability issued with debt instruments 0 3,107
Fair value of 414,137 shares of common stock issuable in connection with settlement of earnout 0 493
Fair value of 1,000,000 shares of common stock issuable in connection with the modification of debt instruments 0 1,142
Stock Issued During Period, Value, Settlement of Accrued Expenses 0 945
Common stock issued for prepaid services 422 0
PodcastOne warrants reclassified from liabilities to non-controlling interest 5,896 0
Purchase of intangible assets accrued for at period end 737 0
Purchase of intangible assets with common stock 917 0
Fair value of options issued to employees, capitalized as internally-developed software 655 26
Accrued Dividends Converted to Preferred Stock [Member]    
Supplemental disclosure of non-cash investing and financing activities:    
Accrued dividends converted to preferred stock $ 2,427 $ 0