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Note 18 - Subsequent Events
6 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 18  Subsequent Events

 

On October 1, 2024, we announced an amended relationship with our largest OEM customer. Effective December 1, 2024, the OEM customer will no longer subsidize our products to some of its customers, however, we will offer all OEM customer vehicles in North America the opportunity to convert to become direct subscribers of our LiveOne music app. The direct subscription to our LiveOne app will allow such users for the first time to access their LiveOne music and LiveOne’s other service offerings directly across all of their devices. Our LiveOne music streaming button/icon, which allows users to directly connect their subscription to LiveOne, is expected to remain in the OEM customer’s music streaming services dashboard in perpetuity. As a result, we believe that we now have a unique opportunity to convert as many of such OEM’s drivers as possible to a higher priced LiveOne subscription service creating a meaningful upside opportunity for us, and we are working in good faith with such OEM customer to convert as many of these drivers as possible. The OEM customer will continue to pay us monthly for grandfathered vehicles for the term of the OEM license agreement.

 

On  November 1, 2024, the Company repaid $1 million of the principal amount of the Credit Facility and decreased the size of the Credit Facility to $6 million.