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Segment Information | 3 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Note 14. Segment Information Segment Information - The Company’s CODM has been identified as the Chief Executive Officer, who reviews the operating results and financial metrics for the Company to make decisions about allocating resources and assessing financial performance. The Company has one segment manager who reports directly to the CODM. The Company operates as one operating segment, Telecommunications, which provides broadband internet, voice over internet protocol (VOIP), and video services within service areas located primarily in Northwest and North Central Ohio. Customers include residential clients and commercial clients. In previous years, the Company had a consumer finance segment, however, this is now reported within discontinued operations for the periods presented (refer to Note 13 for further details). The CODM uses segment operating income (loss) and assets to assess performance and allocate resources at the Telecommunications operating segment, which excludes corporate and discontinued operations of the Company. We define operating income (loss) as revenues less operating expenses. Operating expenses include cost of wireless and fiber internet services, cost of other revenue (exclusive of depreciation shown separately), plant specific and nonspecific operations expenses, general and administrative expenses, and depreciation and amortization expenses. Costs incurred at corporate generally include legal, salary and wages for the executive management team, professional fees for services received, human resources, finance, and taxes. The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies. Reported segment revenue, segment operating income (loss), and significant segment expenses for the three months ended June 30, 2025 and 2024 are as follows:
Telecommunications |  | For the Three Months Ended June 30, |
2025 ($ in thousands) |  |  | 2025 |  |  |  | 2024 |
Telecommunications Segment Revenue |  |  |  |  |  |
Wireless internet services |  | $ | 1,672 |  |  | $ | 319 |
Fiber internet services |  |  | 930 |  |  |  | 106 |
Other revenue |  |  | 432 |  |  |  | 64 |
Total revenue |  |  | 3,034 |  |  |  | 489 |
Operating expenses |  |  |  |  |  |
Salary and wages |  |  |  |  |  |
General and administrative |  |  | 1,227 |  |  |  | 831 |
Depreciation and amortization |  |  | 572 |  |  |  | 80 |
Plant specific operations |  |  | 427 |  |  |  | 74 |
Plant nonspecific operations |  |  | 227 |  |  |  | 38 |
Cost of other revenue (exclusive of depreciation shown separately) |  |  | 176 |  |  |  | 36 |
Cost of wireless and fiber internet services (exclusive of depreciation shown separately) |  |  | 196 |  |  |  | 30 |
Marketing |  |  | 144 |  |  |  | 0 |
Total segment operating expenses |  |  | 2,969 |  |  |  | 1,089 |
Telecommunications segment operating income (loss) |  |  | 65 |  |  |  | (600 | )
Other segment items 1 |  |  | 28 |  |  |  | - |
Segment income (loss) before income taxes and discontinued operations |  |  | 93 |  |  |  | (600 | )
Reconciliation to consolidated net loss before income taxes and discontinued operations: |  |  |  |  |  |
Corporate overhead and other income |  |  |  |  |  |
General and administrative |  |  | (1,006 | ) |  |  | (2,960 | )
Marketing |  |  | (9 | ) |  |  | - |
Depreciation and amortization |  |  | (36 | ) |  |  | (11 | )
Interest income, net |  |  | 219 |  |  |  | 411 |
Emigration tax (expense) |  |  | - |  |  |  | (1,711 | )
(Loss) on dissenting shareholders' liability |  |  | - |  |  |  | (829 | )
Consolidated net loss before income taxes and discontinued operations |  | $ | (739 | ) |  | $ | (5,700 | )
1 Other segment items included in Segment operating loss include interest expense, gain on the sale of assets, and other income. Assets by segment as of June 30, 2025 and March 31, 2025 are as follows:
|  | June 30, |  |  | March 31, |
($ in thousands) |  | 2025 |  |  | 2025 |
Telecommunications operating segment assets |  | $ | 55,726 |  |  | $ | 53,994 |
Corporate assets |  |  | 23,199 |  |  |  | 23,678 |
Total Assets |  | $ | 78,925 |  |  | $ | 77,672 |

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- Definition The entire disclosure for reporting segments including data and tables. 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