XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended 18 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Mar. 31, 2024
Jun. 30, 2025
Cash flows from operating activities:          
Net income (loss) $ (92,648) $ 44,310      
Adjustments to reconcile net income (loss) to net cash used in operating activities:          
Depreciation and amortization 242 414      
Net amortization of debt premium and discount (related party of $92 and $38) 92 38      
Loss on impairment of goodwill 0 3,394     $ 2,400,000
Loss on financial instruments, net (related party of $(1) and $(365)) 45 1,183      
Investment income (loss), net 12,776 (11,028)      
Non cash interest expense (related party of $2,697 and $2,263) 2,764 3,315      
Non cash interest income (139) (12)      
Non cash share-based compensation 461 994      
Provision for credit losses 0 524      
Accrual (release) of loss contingency related to arbitration award 62,831 (54,973)   $ 55,000  
Changes in assets and liabilities:          
Changes in other assets 1,101 1,851      
Changes in accounts payable and accrued expenses 1,639 (565)      
Changes in other liabilities and deferred revenue 0 (92)      
Net cash used in operating activities (10,836) (10,647)      
Cash flows from investing activities:          
Return of investments in alternative assets held by Customer ExAlt Trusts 3,711 7,248 $ 27,600    
Proceeds from disposition of alternative assets held by Customer ExAlt Trusts 24,059 0      
Purchase of investments in alternative assets held by Customer ExAlt Trusts (1,219) (192)      
Purchase of premises and equipment (96) (664)      
Net cash provided by investing activities 26,455 6,392      
Cash flows from financing activities:          
Proceeds from related party debt financings 850 0      
Payments on related party debt financings, Customer ExAlt Trust loan payable (10,474) 0      
Proceeds received from issuance of Class A common under equity purchase agreement 271 2,555      
Payment of deferred financing costs for equity 0 (1,564)      
Net cash (used in) provided by financing activities (9,353) 991      
Net increase (decrease) in cash and cash equivalents 6,266 (3,264)      
Cash and cash equivalents at beginning of period 1,346 7,977 7,977    
Cash and cash equivalents at end of period $ 7,612 $ 4,713 $ 1,346 $ 7,977 $ 7,612