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ACQUISITION OF TARUS (Tables)

9 Months Ended

Dec. 31, 2022

Schedule of fair value of assets acquired and liabilities assumed


Assets:	(In thousands)
Identifiable intangible assets	$	28,200
Goodwill		538
Total assets	$	28,738
Consideration:
Fair value of shares issued	$	17,200
Liabilities assumed		3,000
Deferred purchase consideration at fair value		8,538
Total liabilities	$	28,738

Schedule of pro forma information

Schedule of pro forma information
	For the Nine Months Ended December 31,
(In thousands)	2022			2021
Loss from operations	$	(12,200	)	$	(13,431	)
Loss before provision for income taxes	$	(12,833	)	$	(13,110	)
Net loss	$	(9,927	)	$	(12,645	)
Total comprehensive loss for period	$	(13,945	)	$	(12,645	)
Loss per share	$	(0.60	)	$	(0.77	)

Summary unaudited pro forma condensed results of operations for the three months ended December 31, 2022 and 2021, assuming the Tarus acquisition had occurred at the beginning of the earliest period presented, are as follows:

	For the Three Months Ended December 31,
(In thousands)	2022 ⁽¹⁾			2021
Loss from operations	$	(4,759	)	$	(4,362	)
Loss before provision for income taxes	$	(5,302	)	$	(4,281	)
Net loss	$	(7,501	)	$	(4,398	)
Total comprehensive loss for year	$	(11,518	)	$	(4,398	)
Loss per share	$	(0.44	)	$	(0.23	)

⁽¹⁾

Includes the results of operations of Tarus for the period and, accordingly, there are no pro forma adjustments for the three months ended December 31, 2022.