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Note 7 - Related Party Transactions
 9 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

Note 7 — Related Party Transactions

 

As of December 31, 2024, the Company’s parent, LiveOne, owns approximately 17.9 million shares of the Company's common stock and 1,100,000 common stock warrants to purchase shares of the Company. In addition, as of December 31, 2024, directors and management affiliated with LiveOne beneficially own approximately 1.8 million shares of the Company's common stock.

 

During the three and nine months ended December 31, 2024 and 2023, the Company was allocated expenses by its parent company, LiveOne, attributed to the overhead expenses incurred on behalf of the Company. The amount allocated to the Company from LiveOne for the three months ended December 31, 2024 and 2023 was $0.3 million and $0.3 million, respectively. The amount allocated to the Company from LiveOne for the nine months ended December 31, 2024 and 2023 was $0.7 million and $0.6 million, respectively. 

 

During the year ended March 31, 2023, the Company entered into a production agreement for a podcast and related show with an affiliate of Mr. Wachsberger, the Company’s director nominee and a director of LiveOne. The Company incurred cost of none and $0.1 million for the nine months ended December 31, 2024 and 2023, respectively, attributed to the arrangement.

 

As of December 31, 2024 and March 31, 2024, the Company had a related party payable owed to LiveOne of $0.8 million and $0.3 million, respectively, which primarily consisted of expenses related to overhead expenses paid on behalf of the Company. As of December 31, 2024 and March 31, 2024, the Company had a related party receivable from LiveOne of $0.3 million and $0.1 million, respectively, which primarily consisted of cash allocated to LiveOne.