LiveOne (LVO) 10-K 29 Jun 22 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Jun. 27, 2022	Sep. 30, 2021
Document Information Line Items
Entity Registrant Name	LIVEONE, INC.
Trading Symbol	LVO
Document Type	10-K
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		83,029,529
Entity Public Float			$ 195
Amendment Flag	false
Entity Central Index Key	0001491419
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-38249
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0657263
Entity Address, Address Line One	269 S. Beverly Dr.,
Entity Address, Address Line Two	Suite #1450
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	(310)
Local Phone Number	601-2505
Title of 12(b) Security	Common stock, $0.001 par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Auditor Firm ID	243
Auditor Name	BDO USA, LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current Assets
Cash and cash equivalents	$ 12,894	$ 18,635
Restricted cash	260	135
Accounts receivable, net	13,687	10,567
Inventories	2,599	2,568
Prepaid expense and other current assets	1,868	3,366
Total Current Assets	31,308	35,271
Property and equipment, net	4,688	4,367
Goodwill	23,379	22,619
Intangible assets, net	16,720	22,468
Other assets	728	1,044
Total Assets	76,823	85,769
Current Liabilities
Accounts payable and accrued liabilities	45,418	32,646
Accrued royalties	13,530	12,349
Notes payable, current portion	12	2,729
Deferred revenue	1,157	1,262
Unsecured convertible notes, net		1,976
Total Current Liabilities	60,117	50,962
Senior secured convertible notes, net	13,650	13,047
Senior secured line of credit, net	6,965
Unsecured convertible notes, net – related party	5,879	5,501
Notes payable, net	148	885
Lease liabilities, noncurrent	468	742
Due to Music Partner		3,937
Other long-term liabilities	174	2,422
Deferred income taxes	338	137
Total Liabilities	87,739	77,633
Commitments and Contingencies (Note 15)
Stockholders’ Equity (Deficit)
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 500,000,000 shares authorized; 82,546,189 and 76,807,898 shares issued and outstanding, respectively	83	77
Additional paid in capital	202,854	178,000
Accumulated deficit	(213,853)	(169,941)
Total stockholders’ equity (deficit)	(10,916)	8,136
Total Liabilities and Stockholders’ Equity (Deficit)	$ 76,823	$ 85,769

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	82,546,189	76,807,898
Common stock, shares outstanding	82,546,189	76,807,898

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue:	$ 117,019	$ 65,230
Operating expenses:
Cost of sales	92,980	48,987
Sales and marketing	14,114	9,517
Product development	8,092	9,680
General and administrative	33,681	20,831
Amortization of intangible assets	6,005	5,585
Total operating expenses	154,872	94,600
Loss from operations	(37,853)	(29,370)
Other expense:
Interest expense, net	(4,123)	(5,303)
Loss on extinguishment of debt	(4,321)	(5,180)
Forgiveness of PPP loans	3,110
Other income (expense)	(542)	(2,312)
Total other expense, net	(5,876)	(12,795)
Loss before income taxes	(43,729)	(42,165)
Income tax provision (benefit)	183	(345)
Net loss	$ (43,912)	$ (41,820)
Net loss per share – basic and diluted (in Dollars per share)	$ (0.56)	$ (0.61)
Weighted average common shares – basic and diluted (in Shares)	79,084,930	69,040,055

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Mar. 31, 2020	$ 59	$ 120,932	$ (128,121)	$ (7,130)
Balance (in Shares) at Mar. 31, 2020	58,984,382
Shares issued to vendors	$ 3	8,816		8,819
Shares issued to vendors (in Shares)	2,782,116
Stock-based compensation	$ 1	11,110		11,111
Stock-based compensation (in Shares)	1,279,210
Interest paid in kind		33		33
Shares issued in offering, net of cost	$ 2	7,329		7,331
Shares issued in offering, net of cost (in Shares)	1,820,000
Shares issued in connection with PodcastOne acquisition	$ 6	14,985		14,991
Shares issued in connection with PodcastOne acquisition (in Shares)	5,566,885
Shares issued in connection with CPS acquisition	$ 2	6,702		6,704
Shares issued in connection with CPS acquisition (in Shares)	2,230,769
Shares issued in connection with Senior Secured convertible notes and unsecured convertible notes	$ 1	1,860		1,861
Shares issued in connection with Senior Secured convertible notes and unsecured convertible notes (in Shares)	1,080,000
Unsecured convertible note premium		3,677		3,677
Exercise of employee stock options				2,600
Shares issued pursuant to restricted stock units	$ 2	(2)
Shares issued pursuant to restricted stock units (in Shares)	2,410,286
Shares issued pursuant to stock options	$ 1	2,558		2,559
Shares issued pursuant to stock options (in Shares)	654,250
Net loss			(41,820)	(41,820)
Balance at Mar. 31, 2021	$ 77	178,000	(169,941)	8,136
Balance (in Shares) at Mar. 31, 2021	76,807,898
Stock-based compensation	$ 1	13,782		13,783
Stock-based compensation (in Shares)	699,480
Vested employee restricted stock units	$ 3	267		270
Vested employee restricted stock units (in Shares)	2,518,791
Interest paid in kind		35		35
Shares issued for Gramophone acquisition		89		89
Shares issued for Gramophone acquisition (in Shares)	79,365
Shares issued in connection with CPS acquisition	$ 1	1,825		1,826
Shares issued in connection with CPS acquisition (in Shares)	791,398
Purchase price adjustment in connection with CPS acquisition		301		301
Shares issued on amendment of secured convertible notes		2,728		2,728
Shares issued on amendment of secured convertible notes (in Shares)	93,654
Shares issued on conversion of unsecured convertible notes	$ 1	756		757
Shares issued on conversion of unsecured convertible notes (in Shares)	1,155,143
Unsecured convertible note premium		4,199		4,199
Exercise of employee stock options		872		872
Exercise of employee stock options (in Shares)	400,460
Net loss			(43,912)	(43,912)
Balance at Mar. 31, 2022	$ 83	$ 202,854	$ (213,853)	$ (10,916)
Balance (in Shares) at Mar. 31, 2022	82,546,189

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net loss	$ (43,912)	$ (41,820)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,624	8,770
Interest paid in kind	35	33
Stock-based compensation	12,703	11,282
Change in fair value of bifurcated embedded derivatives	(113)	(977)
Amortization of debt discount	1,244	1,433
Deferred income taxes	160	(359)
Change in fair value of contingent consideration liability	(145)	2,174
Debt conversion expense	756
Loss on extinguishment of debt	4,321	5,180
Forgiveness of PPP loans	(3,110)
Changes in operating assets and liabilities:
Accounts receivable	(3,116)	3,426
Prepaid expenses and other current assets	1,161	(1,288)
Inventories	(31)	32
Other assets	328
Deferred revenue	(155)	278
Accounts payable and accrued liabilities	10,826	2,328
Other liabilities	301
Net cash used in operating activities	(9,123)	(9,508)
Cash Flows from Investing Activities:
Purchases of property and equipment	(3,744)	(3,209)
Purchase of intangible assets	(85)
Cash acquired in acquisition of PodcastOne		1,286
Cash acquired in acquisition of CPS		1,132
Acquisition of Gramophone	(150)
Net cash used in investing activities	(3,979)	(791)
Cash Flows from Financing Activities:
Repayment of senior secured convertible debentures payable		(10,823)
Proceeds from senior secured convertible notes and issuance of shares of common stock		15,000
(Repayment) proceeds from notes payable	(351)	2,742
Debt issuance costs		(190)
Proceeds from issuance of shares of common stock		7,534
Proceeds from exercise of stock options	872	2,559
Payments on capital lease liability		(190)
Proceeds from line of credit	6,965
Net cash provided by financing activities	7,486	16,632
Net change in cash, cash equivalents and restricted cash	(5,616)	6,333
Cash, cash equivalents and restricted cash, beginning of period	18,770	12,437
Cash, cash equivalents and restricted cash, end of period	13,154	18,770
Supplemental disclosure of cash flow information:
Cash paid for income taxes	25
Cash paid for interest	1,468	969
Supplemental disclosure of non-cash investing and financing activities:
Fair value of 60,000 shares of common stock issued in connection with secured convertible notes	320
Fair value of 33,654 shares of common stock issued in connection with related party unsecured convertible notes	122
Fair value of 1,155,143 shares of common stock issued upon conversion of unsecured convertible notes	3,045
Fair value of 1,248,797 and 1,080,000 shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes	3,484	1,861
Fair value of options issued to employees, capitalized as internally-developed software	196	241
Fair value of 5,566,885 shares of common stock issued in connection with PodcastOne acquisition		14,991
Fair value of 791,398 and 2,230,769 shares of common stock issued in connection with CPS acquisition	2,127	6,391
Non-cash settlement for issuable or prepaid shares		283
2,782,116 shares of common stock issued to consultant and vendors to settle accounts payable		8,816
Fair value of unsecured convertible note premium	4,199
Fair value of 79,365 shares of common stock issued in connection with the Gramophone acquisition	$ 89

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) - shares	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Common stock issued Secured Convertible Notes	60,000
Common stock issued Unsecured Convertible Notes	33,654
Common stock issued upon conversion of Unsecured Convertible Notes	1,155,143
Shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes	1,248,797	1,080,000
Common stock issued PodcastOne acquisition	5,566,885
Common stock issued in connection with CPS acquisition	791,398	2,230,769
Shares of common stock issued to consultant and vendors	2,782,116
Common stock issued in Gramophone acquisition	79,365

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Organization and Basis of Presentation	Note 1 — Organization and Basis of Presentation Organization LiveOne, Inc. (formerly LiveXLive Media, Inc.) together with its subsidiaries (“we,” “us,” “our”, the “Company” or “LiveOne”) is a Delaware corporation headquartered in Beverly Hills, California. The Company is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships, live and virtual events. The Company was reincorporated in the State of Delaware on August 2, 2017, pursuant to a reincorporation merger of Loton, Corp (“Loton”) with and into LiveXLive, Loton’s wholly owned subsidiary at the time. As a result of the reincorporation merger, Loton ceased to exist as a separate entity, with LiveXLive being the surviving entity. On December 29, 2017, the Company acquired Slacker, Inc. (“Slacker”), an Internet music and radio streaming service incorporated in the state of Delaware, and it became a wholly owned subsidiary of LiveOne. On February 5, 2020, the Company acquired (i) React Presents, LLC a Delaware limited liability company (“React Presents”), and it became a wholly owned subsidiary of LiveXLive Events, LLC, a wholly owned subsidiary of the Company and (ii) indirectly Spring Awakening, LLC, which is a wholly owned subsidiary of React Presents, a producer, promoter and manager of in person live music festivals and events. On July 1, 2020, the Company through its wholly owned subsidiary, LiveXLive PodcastOne, Inc., acquired 100% of the issued and outstanding equity interests of Courtside Group, Inc. (dba PodcastOne) (“PodcastOne”) (see Note 4 – Business Combinations). On December 22, 2020, the Company through its wholly owned subsidiary LiveXLive Merchandising, Inc., acquired 100% of the issued and outstanding equity interests of Custom Personalization Solutions, Inc. (“CPS”) (see Note 4 – Business Combinations). On October 17, 2021, the Company through its wholly owned subsidiary LiveXLive PR, Inc., acquired 100% of the issued and outstanding equity interests of Gramophone Media, Inc. (“Gramophone”) (see Note 4 – Business Combinations). Basis of Presentation The presented financial information for the fiscal year ended March 31, 2022 includes the financial information and activities of LiveOne, React Presents, PodcastOne and CPS for the full year and Gramophone from the effective date of its acquisition. Certain reclassifications have been made to prior-year amounts to conform to the current period presentation. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Acquisitions are included in the Company’s consolidated financial statements from the date of the acquisition. The Company uses purchase accounting for its acquisitions, which results in all assets and liabilities of acquired businesses being recorded at their estimated fair values on the acquisition dates. See the Company’s accounting policy “ Business Combinations” Going Concern and Liquidity The Company’s consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. The Company’s principal sources of liquidity have historically been its debt and equity issuances and its cash and cash equivalents (which cash, cash equivalents and restricted cash amounted to $13.2 million as of March 31, 2022). As reflected in its consolidated financial statements included elsewhere herein, the Company has a history of losses, incurred a net loss of $43.9 million, and utilized cash of $9.1 million in operating activities for the year ended March 31, 2022, and had a working capital deficiency of $28.8 million as of March 31, 2022. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date that these financial statements are filed. The Company’s consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s ability to continue as a going concern is dependent on its ability to execute its growth strategy and on its ability to raise additional funds. The Company filed a new universal shelf Registration Statement on Form S-3 (the “New Shelf S-3”) with the SEC, which was declared effective by the SEC on February 17, 2022. Under the New Shelf S-3, the Company will have the ability to raise up to $150.0 million in cash from the sale of its equity, debt and/or other financial instruments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies COVID-19 In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease (“COVID-19”) as a pandemic. The global impact of the COVID-19 pandemic has had a negative effect on the global economy, disrupting the financial markets creating increasing volatility and overall uncertainty. The Company began to experience modest adverse impacts of the COVID-19 pandemic in the fourth quarter of fiscal year ended March 31, 2020 and became more adverse throughout the fiscal year ended March 31, 2021 and up to the third quarter of fiscal year ended March 31, 2022. Although the impact has subsided, the Company expects to continue experiencing modest adverse impacts throughout the fiscal year ending March 31, 2023. The Company’s event and programmatic advertising revenues were directly impacted throughout the 2021 fiscal year and mid-way through the 2022 fiscal year with all on-premise in-person live music festivals and events postponed and mixed demand from historical advertising partners. Further, one of the Company’s larger customers also experienced a temporary halt to its production as a result of COVID-19, which negatively impacted the Company’s near-term member growth in the 2021 fiscal year. During the fiscal year ended March 31, 2021, the Company enacted several initiatives to counteract these near-term challenges, including salary reductions, obtaining a Paycheck Protection Program (“PPP”) loan (see Note 8 - Notes Payable) and pivoting its live music production to 100% digital. The Company began producing, curating, and broadcasting digital music festivals and events across its platform which has resulted in the growth in the number of live events streamed, related sponsorship revenue and overall viewership. The Company also launched a new pay-per-view (“PPV”) offering in May 2020, enabling new forms of artist revenue including digital tickets, tipping, digital meet and greet and merchandise sales. However, there is uncertainty as to the duration and overall impact of the COVID-19 pandemic, which could result in an adverse material change in a future period to the Company’s results of operations, financial position and liquidity. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in the United States. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company evaluated the provisions of the CARES Act and determined it is eligible for Employee Retention Credits related to payroll taxes paid during the quarter ended September 30, 2021. In accordance with ASC 105-10-05-02, the Company analogized to International Financial Reporting Standards (“IFRS”), specifically International Accounting Standards (“IAS”) 20, Accounting for Government Grants and Disclosures of Government Assistance, On December 29, 2020, the Consolidated Appropriations Act (“CAA”) was enacted in the United States. The CAA provides numerous tax provisions and most notably for the Company changes the tax treatment of those expenses paid for with a PPP loan from non-deductible to deductible. The Company is in the process of evaluating the provisions of the CAA including obtaining a second draw Paycheck Protection Program loans and applying for the potential eligibility for Employee Retention Credits and does not anticipate the provisions included will have a material impact on its provision for income taxes. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with the United States of America (“US”) generally accepted accounting principles (“GAAP”) requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue, allowance for doubtful accounts, the assigned value of acquired assets and assumed and contingent liabilities associated with business combinations and the related purchase price allocation, useful lives and impairment of property and equipment, intangible assets, goodwill and other assets, inventory calculations and reserves, the fair value of the Company’s equity-based compensation awards and convertible debt and debenture instruments, fair values of derivatives, and contingencies. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Given the overall uncertainty surrounding the COVID-19 pandemic, there is a reasonable possibility that actual results could differ from those estimates and such differences could be material to the financial position and results of operations, specifically in assessing when the collectability of revenue related consideration is probable, and the impairment assessment of goodwill, indefinite lived assets or long-lived assets that are depreciated or amortized. Revenue Recognition Policy The Company accounts for a contract with a customer when an approved contract exists, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and the collectability of substantially all of the consideration is probable. Revenue is recognized when the Company satisfies its obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company uses the expected value method to estimate the value of variable consideration on advertising and with original equipment manufacturer contracts to include in the transaction price and reflect changes to such estimates in periods in which they occur. Variable consideration for these services is allocated to and recognized over the related time period such advertising and membership services are rendered as the amounts reflect the consideration the Company is entitled to and relate specifically to the Company’s efforts to satisfy its performance obligation. The amount of variable consideration included in revenue is limited to the extent that it is probable that the amount will not be subject to significant reversal when the uncertainty associated with the variable consideration is subsequently resolved. Practical Expedients The Company elected the practical expedient and recognized the incremental costs of obtaining a contract, if any, as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Gross Versus Net Revenue Recognition The Company reports revenue on a gross or net basis based on management’s assessment of whether the Company acts as a principal or agent in the transaction and is evaluated on a transaction by transaction basis. To the extent the Company acts as the principal, revenue is reported on a gross basis net of any sales tax from customers, when applicable. The determination of whether the Company acts as a principal or an agent in a transaction is based on an evaluation of whether the Company controls the good or service prior to transfer to the customer. Where applicable, the Company has determined that it acts as the principal in all of its membership service, sponsorship, and merchandising streams and may act as principal or agent for its ticketing/live events, advertising and licensing revenue streams. The Company’s revenue is principally derived from the following services: Membership Services Membership services revenue substantially consist of monthly to annual recurring membership fees, which are primarily paid in advance by credit card or through direct billings arrangements. The Company defers the portions of monthly to annual recurring membership fees collected in advance and recognizes them in the period earned. Membership revenue is recognized in the period of services rendered. The Company’s membership revenue consists of performance obligations that are satisfied over time. This has been determined based on the fact that the nature of services offered are membership based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services or not. As a result, the Company has concluded that the best measure of progress toward the complete satisfaction of the performance obligation over time is a time-based measure. The Company recognizes membership revenue straight-line through the membership period. Membership Services consist of: Direct member, mobile service provider and mobile app services The Company generates revenue for membership services on both a direct basis and through memberships sold through certain third-party mobile service providers and mobile app services (collectively the “Mobile Providers”). For memberships sold through the Mobile Providers, the member executes an on-line agreement with Slacker outlining the terms and conditions between Slacker and the member upon purchase of the membership. The Mobile Providers promote the Slacker app through their e-store, process payments for memberships, and retain a percentage of revenue as a fee. The Company reports this revenue gross of the fee retained by the Mobile Providers, as the member is Slacker’s customer in the contract and Slacker controls the service prior to the transfer to the member. Membership revenues from monthly memberships sold directly through Mobile Providers are subject to such Mobile Providers’ refund or cancellation terms. Revenues from Mobile Providers are recognized net of any such adjustments for variable consideration, including refunds and other fees. The Company’s payment terms vary based on whether the membership is sold on a direct basis or through Mobile Providers. Memberships sold on a direct basis require payment before the services are delivered to the customer. The payment terms for memberships sold through Mobile Providers vary, but are generally payable within 30 days. Third-Party Original Equipment Manufacturers The Company generates revenue for membership services through memberships sold through a third-party Original Equipment Manufacturer (the “OEM”). For memberships sold through the OEM, the OEM executes an agreement with Slacker outlining the terms and conditions between Slacker and the OEM upon purchase of the membership. The OEM installs the Slacker app in their equipment and provides the Slacker service to the OEM’s customers. The monthly fee charged to the OEM is based upon a fixed rate per vehicle, multiplied by the variable number of total vehicles which have signed up for a paid membership. The number of customers, or the variable consideration, is reported by OEMs and resolved on a monthly basis. The Company’s payment terms with OEM are up to 30 days. Advertising Revenue Advertising revenue primarily consist of revenues generated from the sale of audio, video, and display advertising space to third-party advertising exchanges. Revenues are recognized based on delivery of impressions over the contract period to the third-party exchanges, either when an ad is placed for listening or viewing by a visitor or when the visitor “clicks through” on the advertisement. The advertising exchange companies report the variable advertising revenue performed on a monthly basis which represents the Company’s efforts to satisfy the performance obligation. Additionally, following the acquisition of PodcastOne, the Company began deriving revenue from podcast advertising. PodcastOne earns advertising revenues primarily for fees earned from advertisement placement purchased by the customer during the time the podcast is delivered to the viewing audience, under the terms and conditions as set forth in the applicable podcasting agreement calculated using impressions. From time to time we enter into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized based on delivery of impressions and in the same manner as described above. Services received are charged to expense when received or utilized. If services are received prior to the delivery of impressions, a liability is recorded. If delivery of impressions have occurred before the receipt of goods or services, a receivable is recorded. Total revenues related to barter transactions were $4.3 million and $3.5 million for the years ended March 31, 2022 and March 31, 2021, respectively. Licensing Revenue Licensing revenue primarily consists of sales of licensing rights to digitally stream its live music services. Licensing revenue is recognized when the Company satisfies its performance obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services, which is typically when the live event has aired. Any license fees collected in advance of an event are deferred until the event airs. Sponsorship Revenue Sponsorship revenue primarily consists of sales of sponsorship programs that provide sponsors with opportunities to reach our customers. Sponsorship revenue is recognized as the event airs. Any sponsorship fees collected in advance of the contract term (typically an event) are deferred until the event airs. The Company reports sponsorship revenue on a gross basis as the Company acts as the principal in the underlying transactions. Merchandising Revenue Revenue is recognized upon the transfer of control to the customer. The Company recognizes revenue and measures the transaction price net of taxes collected from customers and remitted to governmental authorities. Sales also include shipping and handling charges billed to customers, with the related freight costs included in cost of goods sold. Sales commissions are expensed as incurred and are recorded in sales and marketing expenses in the consolidated statements of operations. The Company's customer contracts do not have a significant financing component due to their short durations, which are typically effective for one year or less and have payment terms that are generally 30 to 60 days. Wholesale revenue is generally recognized when products are shipped, depending on the applicable contract terms. The Company records a refund liability for expected returns based on prior returns history, recent trends, and projections for returns on sales in the current period. The refund liability at March 31, 2022 and 2021 was less than $0.1 million, respectively. Ticket/Event Revenue Ticket/Event revenue is primarily from the sale of tickets and promoter fees earned from venues or other co-promoters under one of several formulas, including a fixed guaranteed amount and/or a percentage of ticket sales or event profits. Revenue from the promotion or production of an event is recognized at a point in time when the show occurs. Revenue collected in advance of the event is recorded as deferred revenue until the event occurs. Revenue collected from sponsorship agreements, which is not related to a single event, is classified as deferred revenue and recognized over the term of the agreement or operating season as the benefits are provided to the sponsor. Revenue from our ticketing operations primarily consists of service fees charged at the time a ticket for an event is sold in either the primary or secondary markets, including both online pay-per-view (“PPV”) tickets as well as ticket physically purchased through a ticket sale vendor. For primary tickets sold to the Company’s PPV and festival events the revenue for the associated ticket service charges collected in advance of the event is recorded as deferred revenue until the event occurs. For PPV arrangements that include multiple performance obligations, i.e. delivery of the online stream, sponsorships, digital meet and greet, or physical merchandise, we allocate the total contract consideration to each performance obligation using the standalone selling price. If the standalone selling price is not readily determinable, it is estimated using observable inputs including an adjusted market based approach, expected cost plus margin, or the residual approach. Cost of Sales Cost of Sales principally consist of royalties paid for the right to stream video, music and non-music content to the Company’s customers and the cost of securing the rights to produce and stream live events from venues and promoters. Royalties are calculated using negotiated and regulatory rates documented in content license agreements and are based on usage measures or revenue earned. Music royalties to record labels, professional rights organizations and music publishers relate to the consumption of music listened to on Slacker’s radio services. As of March 31, 2022, and 2021, the Company accrued $13.5 million and $12.3 million of royalties, respectively, due to artists from use of Slacker’s radio services. Cost of sales for the Company’s advertising revenue primarily includes PodcastOne direct costs comprised of revenue sharing and commissions. Cost of sales for the Company’s merchandising revenue includes purchase costs and related direct costs. Direct costs include all costs for personalization, production, planning, quality control, fulfillment and inbound freight. Sales and Marketing Sales and Marketing include the direct and indirect costs related to the Company’s product and event advertising and marketing. Additionally, sales and marketing include merchandising advertising and royalty costs. Advertising expenses to promote the Company’s services are expensed as incurred. Advertising expenses included in sales and marketing expense were $0.3 million and $0.3 million for the years ended March 31, 2022 and 2021, respectively. Product Development Product development costs primarily are expenses for research and development, product and content development activities, including internal software development and improvement costs which have not been capitalized by the Company. Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which is the vesting period, on an accelerated basis. The Company accounts for awards with graded vesting as if each vesting tranche is valued as a separate award. The Company uses the Black-Scholes-Merton option pricing model to determine the grant date fair value of stock options. This model requires the Company to estimate the expected volatility and the expected term of the stock options which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected employee stock option exercise behavior. The Company uses a predicted volatility of its stock price during the expected life of the options that is based on the historical performance of the Company’s stock price as well as including an estimate using guideline companies. The expected term is computed using the simplified method as the Company’s best estimate given its lack of actual exercise history. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the stock. Compensation expense resulting from granted restricted stock units and restricted stock awards is measured at fair value on the date of grant and is recognized as share-based compensation expense over the applicable vesting period. Stock-based awards are comprised principally of stock options, restricted stock, restricted stock units (“RSUs”), and restricted stock awards (“RSAs”). Forfeitures are recognized as incurred. Stock option awards issued to non-employees are accounted for at grant date fair value determined using the Black-Scholes-Merton option pricing model. Management believes that the fair value of the stock options is more reliably measured than the fair value of the services received. The Company records the fair value of these equity-based awards and expense at their cost ratably over related vesting periods. Income Taxes The Company accounts for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Company’s consolidated statements of operations in the period that includes the enactment date. Net Income (Loss) Per Share Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted-average number of common shares and the dilutive effect of contingent shares outstanding during the period. Potentially dilutive contingent shares, which primarily consist of stock options issued to employees, directors and consultants, restricted stock units, warrants issued to third parties and accounted for as equity instruments and convertible notes would be excluded from the diluted earnings per share calculation because their effect is anti-dilutive. At March 31, 2022 and 2021, the Company had 3,565,191 and 3,921,584 options outstanding, respectively, 3,064,375 and 4,512,916 restricted stock units outstanding, respectively, and 5,403,693 and 5,723,685 shares of common stock issuable underlying the Company’s convertible notes and convertible debentures, respectively. Business Combinations The Company accounts for its business combinations using the acquisition method of accounting where the purchase consideration is allocated to the underlying net tangible and intangible assets acquired, based on their respective fair values. The excess of the purchase consideration over the estimated fair values of the net assets acquired is recorded as goodwill. Identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree are recognized and measured as of the acquisition date at fair value. Additionally, any contingent consideration is recorded at fair value on the acquisition date and classified as a liability. Goodwill is recognized to the extent by which the aggregate of the acquisition-date fair value of the consideration transferred and any noncontrolling interest in the acquiree exceeds the recognized basis of the identifiable assets acquired, net of assumed liabilities. Determining the fair value of assets acquired, liabilities assumed and noncontrolling interests requires management’s judgment and often involves the use of significant estimates and assumptions, including, but not limited to, the selection of appropriate valuation methodology, projected revenue, expenses and cash flows, weighted average cost of capital, discount rates, estimates of customer turnover rates, estimates of terminal values, and royalty rates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three months or less. The following table provides amounts included in cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows for the fiscal years ended March 31 (in thousands): 2022 2021 Cash and cash equivalents $ 12,894 $ 18,635 Restricted cash 260 135 Total cash and cash equivalents and restricted cash $ 13,154 $ 18,770 Restricted Cash and Cash Equivalents The Company maintains certain letters of credit agreements with its banking provider, which are secured by the Company’s cash for periods of less than one year. As of March 31, 2022 and 2021, the Company had restricted cash of $0.3 million and $0.1 million, respectively. Allowance for Doubtful Accounts The Company evaluates the collectability of its accounts receivable based on a combination of factors. Generally, it records specific reserves to reduce the amounts recorded to what it believes will be collected when a customer’s account ages beyond typical collection patterns, or the Company becomes aware of a customer’s inability to meet its financial obligations. The Company believes that the credit risk with respect to trade receivables is limited due to the large and established nature of its largest customers and the short-term nature of its membership receivables. At March 31, 2022, the Company had one customer that made up 24% of the total accounts receivable balance. At March 31, 2021, the Company had two customers that made up 21% and 15% of the total accounts receivable balance. The following table provides amounts included in accounts receivable, net for the fiscal years ended March 31 (in thousands): 2022 2021 Accounts receivable $ 14,404 $ 10,679 Less: Allowance for doubtful accounts 717 112 Accounts receivable, net $ 13,687 $ 10,567 Inventories Inventories, principally raw materials awaiting final customization process, are stated at the lower of cost or net realizable value. Inventories are relieved on a first-in, first-out basis. The carrying value of inventories is reduced for any excess and obsolete inventory. Excess and obsolete reductions are determined based on currently available information, including the likely method of disposition, such as through sales to individual customers and liquidations, and the age of inventory. Paycheck Protection Program Loans In response to the COVID-19 pandemic, the PPP was established under the CARES Act and administered by the U.S. Small Business Administration (“SBA”). Companies who met the eligibility requirements set forth by the PPP could qualify for PPP loans provided by local lenders, which supports payroll, rent and utility expenses (“qualified expenses”). If the loan proceeds are fully utilized to pay qualified expenses over the covered period, as further defined by the PPP, the full principal amount of the PPP loan may qualify for loan forgiveness, subject to potential reduction based on the level of full-time employees maintained by the organization during the covered period as compared to a baseline period. During the year ended March 31, 2022, the Company received confirmation from the SBA that $3.1 million in PPP loans (see Note 8 – Notes Payable) were forgiven. As the loans were forgiven and we were released from being the primary obligor, the Company recognized income in the amount forgiven in accordance with ASC 470-20. The Company recognized a gain on forgiveness of the PPP loans during the fiscal year ended March 31, 2022 and is included in total other expense, net in the accompanying consolidated statement of operations for the year ended March 31, 2022. Property and Equipment Property and equipment are recorded at cost. Costs of improvements that extend the economic life or improve service potential are also capitalized. Capitalized costs are depreciated over their estimated useful lives. Costs for normal repairs and maintenance are expensed as incurred. Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: buildings and improvements (5 years), furniture and equipment (3 to 5 years) and computer equipment and software (3 to 5 years). Leasehold improvements are depreciated over the shorter of the estimated useful life, based on the estimates above, or the lease term. The Company evaluates the carrying value of its property and equipment if there are indicators of potential impairment. If there are indicators of potential impairment, the Company performs an analysis to determine the recoverability of the asset group carrying value by comparing the expected undiscounted future cash flows to the net book value of the asset group. If it is determined that the expected undiscounted future cash flows are less than the net book value of the asset group, the excess of the net book value over the estimated fair value is recorded in the Company’s consolidated statements of operations. Fair value is generally estimated using valuation techniques that consider the discounted cash flows of the asset group using discount and capitalization rates deemed reasonable for the type of assets, as well as prevailing market conditions, appraisals, recent similar transactions in the market and, if appropriate and available, current estimated net sales proceeds from pending offers. Capitalized Internal-Use Software The Company capitalizes certain costs incurred to develop software for internal use. Costs incurred in the preliminary stages of development are expensed as incurred. Once software has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as part of property and equipment. Costs related to minor enhancements, maintenance and training are expensed as incurred. Capitalized internal-use software costs are amortized on a straight-line basis over their three- to five-year estimated useful lives. The Company evaluates the useful lives of these assets and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. During the years ended March 31, 2022 and 2021, the Company capitalized $3.4 million and $3.4 million of internal use software, respectively. Goodwill and Indefinite-Lived Assets Goodwill represents the excess of the purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired in a business combination and is carried at cost. Acquired trademarks and trade names are assessed as indefinite lived assets if there are no foreseeable limits on the periods of time over which they are expected to contribute cash flows. Goodwill and indefinite-lived assets are not amortized, but are subject to an annual impairment testing, as well as between annual tests when events or circumstances indicate that the carrying value may not be recoverable. We perform our annual impairment testing at January 1 of each year. Our annual goodwill impairment test is performed at the reporting unit level. As of March 31, 2022 and 2021, our single reporting unit is the same as our operating segment, as described in Note 19. We generally test goodwill for possible impairment by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If a qualitative assessment is not used, or if the qualitative assessment is not conclusive, a quantitative impairment test is performed. If a quantitative test is performed, we determine the fair value of the related reporting unit and compare this value to the recorded net assets of the reporting unit, including goodwill. The fair value of our reporting unit is determined using a market approach based on quoted prices in active markets. In the event the recorded net assets of the reporting unit exceed the estimated fair value of such assets, an impairment charge is recorded. Based on our annual impairment assessment, no impairments of goodwill were identified in the fiscal years ended March 31, 2022 and 2021. Estimations and assumptions regarding, future pe

Revenue

Revenue	12 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Note 3 — Revenue The following table represents a disaggregation of revenue from contracts with customers for the years ended March 31, 2022 and 2021 (in thousands): Year Ended March 31, 2022 2021 Revenue Membership services $ 41,264 $ 33,577 Advertising 33,739 20,779 Merchandising 15,447 5,168 Sponsorship and Licensing 7,051 3,878 Ticket/Event 19,518 1,828 Total Revenue $ 117,019 $ 65,230 For some contracts, the Company may invoice up front for services recognized over time or for contracts in which the Company has unsatisfied performance obligations. Payment terms and conditions vary by contract type, although terms generally cover monthly payments. In the circumstances where the timing of invoicing differs from the timing of revenue recognition, the Company has determined its contracts do not include a significant financing component. The Company has elected to apply the practical expedient under ASC 606-10-50-14 and not provide disclosure of the amount and timing of performance obligations as the performance obligations are part of a contract that has an original expected duration of one year or less. For the years ended March 31, 2022 and 2021, one customer accounted for 28% and 36% of our consolidated revenues, respectively. The following table summarizes the significant changes in contract liabilities balances during the years ended March 31, 2022 and 2021 (in thousands): Contract Liabilities Balance as of April 1, 2020 $ 949 Revenue recognized that was included in the contract liability at beginning of period (949 ) Increase due to cash received, excluding amounts recognized as revenue during the period 1,262 Balance as of March 31, 2021 1,262 Revenue recognized that was included in the contract liability at beginning of period (1,262 ) Increase due to cash received, excluding amounts recognized as revenue during the period 1,157 Balance as of March 31, 2022 $ 1,157

Business Combinations

Business Combinations	12 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Business Combinations	Note 4 — Business Combinations Gramophone On October 17, 2021, the Company’s wholly owned subsidiary, LiveXLive PR, Inc., acquired 100% of the equity interests of Gramophone for net consideration of $0.4 million consisting of 79,365 shares of the Company’s common stock with a fair value of $0.1 million net of a 25% discount for lack of marketability described below, contingent consideration with a fair value of $0.2 million comprised of shares held in escrow and a cash earnout, and cash of $0.2 million. The shares of the Company’s common stock were subject to a twelve-month lock-up period and remain subject to sales volume restrictions. Fair Value of Consideration Transferred: Cash $ 150 Common stock 89 Contingent consideration 174 Total $ 413 Contingent consideration in the form of a cash earnout of $0.3 million will be paid to the seller of Gramophone if, during the period commencing June 1, 2021 and ending on May 31, 2022 (“First Year Target”), Gramophone reports GAAP revenues of $1.4 million and EBITDA (as defined in the purchase agreement) of $0.3 million. If the First Year Target is not met, the cash earnout will be paid to the seller of Gramophone if, during the period commencing June 1, 2022 and ending on May 31, 2023 (“Second Year Target”), Gramophone reports GAAP revenues of $2 million and EBITDA of $0.5 million. Based on their likelihood of achievement management’s current estimate of the value of the contingent consideration related to the cash earnout was valued at $0.2 million. The contingent consideration liability of $0.2 million is classified within Other Long-Term Liabilities in the accompanying consolidated balance sheets at March 31, 2022 (see Note 14 – Other Long-Term Liabilities). The remaining contingent consideration included in the purchase price was not material and is included in Other Long-Term Liabilities in the accompanying consolidated balance sheet at March 31, 2022. Goodwill resulted from acquisition as it is intended to augment and diversify the Company’s single reportable segment. The Company accounted for the acquisition as a business combination. As a result of the acquisition of the stock of Gramophone, the goodwill is not deductible for tax purposes. The following table summarizes the fair value of the assets assumed in the Gramophone acquisition (in thousands): Asset Type Amortization Fair Value Cash and cash equivalents $ 4 Accounts receivable 4 Trade name 5 73 Customer list 2 94 Goodwill 459 Deferred revenue (51 ) Deferred tax liability (41 ) Accrued liabilities (129 ) Net assets acquired $ 413 Revenue of $0.4 million and net loss of $0.1 million was included in the Company’s consolidated statements of operations from the date of acquisition for the fiscal year ended March 31, 2022 for Gramophone. The Company incurred less than $0.1 million in transaction costs associated with the Gramophone acquisition, which were expensed and included in General and Administrative in the consolidated statement of operations for fiscal year ended March 31, 2022. PodcastOne On July 1, 2020, the Company’s wholly owned subsidiary, LiveXLive PodcastOne, Inc., acquired 100% of the equity interests of PodcastOne for net consideration of $16.1 million consisting of 5,363,636 shares of the Company’s common stock with a fair value of $14.6 million net of a 24% discount for lack of marketability described below, contingent consideration with a fair value of $1.1 million and an additional true-up of 203,249 shares during the third quarter of fiscal 2021 valued at $0.4 million, net of a 24% discount for lack of marketability described below, that was issued as part of the final purchase price consideration. The shares of the Company’s common stock are subject to a twelve-month lock-up period and sales volume restrictions. Fair Value of Consideration Transferred: Common stock $ 14,991 Contingent consideration 1,100 Total $ 16,091 If, during the period commencing after May 7, 2020 and ending on July 1, 2022, for five consecutive trading days the closing market price of the Company’s common stock exceeds $5.00 per share, an additional aggregate payment of $3.0 million in cash shall be paid to the sellers of PodcastOne in accordance with their respective pro rata percentage within five business days of the second anniversary of the closing date (July 1, 2022). The fair value of this contingent consideration liability on the closing date of July 1, 2020 was estimated at $1.1 million using a Monte Carlo simulation and the significant unobservable input included a credit yield of 21.9%. During March 2021, the closing price of the Company’s common stock exceeded $5.00 per share for the requisite five consecutive days. The Company recorded a $1.3 million charge to Other income (expense) in the consolidated statement of operations during the year ended March 31, 2021. The contingent consideration liability of $2.9 million and $2.4 million is classified within Other Long-term Liabilities in the accompanying consolidated balance sheet at March 31, 2022 and 2021, respectively (see Note 14 – Other Long-Term Liabilities). Goodwill resulted from acquisition as it is intended to augment and diversify the Company’s single reportable segment. The Company accounted for the acquisition as a business combination. As a result of the acquisition of the stock of PodcastOne, the goodwill is not deductible for tax purposes. The following table summarizes the fair value of the assets assumed in the PodcastOne acquisition (in thousands): Asset Type Weighted Fair Value Cash and cash equivalents $ 1,286 Accounts receivable 3,951 Prepaid expense and other assets 316 Property and equipment 119 Content creator relationships 1.6 772 Trade name 10 1,010 Goodwill 12,042 Accounts payable and accrued liabilities (2,934 ) Deferred tax asset 972 Allowance for deferred tax asset (972 ) Note payable (471 ) Net assets acquired $ 16,091 The fair value of the assets acquired includes accounts receivable of $4.0 million. The gross amount due under contracts is $4.2 million, of which $0.2 million is expected to be uncollectible. The Company did not acquire any other class of receivable as a result of the acquisition of PodcastOne. CPS On December 22, 2020, the Company’s wholly owned subsidiary, LiveXLive Merchandising, Inc., acquired 100% of the equity interests of CPS for total consideration of 2,230,769 shares of the Company’s restricted common stock with a fair value of $6.4 million net of a 25% discount for lack of marketability described below. The shares of the Company’s common stock issued to the sellers were subject to a twelve-month lock-up period from the closing date, which expired on December 22, 2021. The Company agreed to also issue up to approximately 577,000 additional shares of its restricted common stock, classified as contingent consideration, as CPS reported GAAP revenue of at least $20.0 million and $1.0 million of EBITDA (as defined in the purchase agreement) for its fiscal year ended December 31, 2020. Based on their likelihood of achievement this number of shares reflected management’s current estimate and were valued at $1.7 million based on the Company’s stock price on the date of acquisition, net of a 25% discount for lack of marketability. On July 7, 2021, the Company issued 576,923 shares of its restricted common stock to the sellers of CPS as consideration for CPS having satisfied such targets. Accordingly, the Company recorded a $0.2 million benefit to other income (expense) which is included in the accompanying consolidated statement of operations for the year ended March 31, 2022. The Company further agreed to issue up to approximately 214,000 additional shares of its restricted common stock to the extent CPS’ final working capital as determined by the parties exceeds $4.0 million. This number of shares is based on actual achievement under the terms of the purchase agreement and mutual agreement with the sellers. These additional shares were valued at $0.6 million based on the Company’s stock price on the date of acquisition, net of a 25% discount for lack of marketability. Included in the total amount of $0.6 million is a purchase price adjustment of $0.3 million related to the resolution of provisional amounts previously recorded based on estimates, which was accounted for as a purchase price adjustment within the measurement period as an increase to goodwill related to the CPS acquisition. On July 7, 2021, the Company issued 214,475 shares of its restricted common stock to the sellers of CPS as consideration for CPS having satisfied such target. These amounts are included in additional paid in capital in the accompanying consolidated balance sheets. Fair Value of Consideration Transferred: Common stock $ 6,391 Additional paid-in capital – common stock to be issued 615 Contingent consideration 1,654 Total $ 8,660 Goodwill resulted from acquisition as it is intended to augment and diversify the Company’s single reportable segment. The Company accounted for the acquisition as a business combination. As a result of the acquisition of the stock of CPS, the goodwill is not deductible for tax purposes. The following table summarizes the fair value of the assets assumed in the CPS acquisition (in thousands): Asset Type Weighted Fair Value Cash and cash equivalents $ 1,132 Accounts receivable 6,153 Inventories 2,600 Prepaid expense 29 Property and equipment 585 Wholesale relationship 6 2,500 Domain name 10 400 Customer list 5 172 Goodwill 1,207 Other assets 53 Right of use asset 1,086 Lease liability (1,086 ) Accounts payable (5,067 ) Deferred tax liability (388 ) Other liabilities (716 ) Net assets acquired $ 8,660 The fair value of the assets acquired includes accounts receivable of $6.2 million. The gross amount due under contracts is $6.5 million, of which $0.3 million is expected to be uncollectible. The Company did not acquire any other class of receivable as a result of the acquisition of CPS. The Company is required to establish a deferred tax liability for book tax basis differences of acquired assets and liabilities which would result in the utilization of available net operating losses. The decrease in valuation allowance resulted in a tax benefit of $0.4 million which was recorded in the Company’s consolidated statement of operations for fiscal year ended March 31, 2021. Revenue of $15.7 million and $5.2 million and net loss of $3.1 million and $0.3 million was included in the Company’s consolidated statements of operations from the date of acquisition for the fiscal year ended March 31, 2022 for PodcastOne and CPS, respectively. The Company incurred less than $0.1 million in transaction costs associated with the PodcastOne and CPS acquisitions, respectively, which were expensed and included in General and Administrative in the consolidated statement of operations for fiscal year ended March 31, 2021. Supplemental Pro Forma Information (Unaudited) The pro forma financial information as presented below is for informational purposes only and is not indicative of operations that would have been achieved from the acquisitions had they taken place at the beginning of the fiscal years ended March 31, 2022 and 2021, respectively. The following table presents the revenues, net loss and earnings per share of the combined company for the year ended March 31, 2021 as if the acquisition of CPS had been completed on April 1, 2020 (in thousands, except per share data). Year Ended 2021 Revenues $ 83,050 Net loss (41,801 ) Net loss per share – basic and diluted $ (0.61 ) The following table presents the revenues, net loss and earnings per share of the combined company for the year ended March 31, 2021 as if the acquisition of PodcastOne had been completed on April 1, 2020 (in thousands, except per share data). Year Ended 2021 Revenues $ 69,953 Net loss (42,656 ) Net loss per share – basic and diluted $ (0.62 ) The following table presents the revenues, net loss and earnings per share of the combined company for the years ended March 31, 2022 and 2021 as if the acquisition of Gramophone had been completed on April 1, 2020 (in thousands, except per share data). Year Ended March 31, 2022 2021 Revenues $ 117,623 $ 66,098 Net loss (43,592 ) (41,985 ) Net loss per share – basic and diluted $ (0.55 ) $ (0.61 ) The Company’s unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflect amortization of intangible assets as a result of the acquisition. The pro forma results are not necessarily indicative of the results that would have been realized had the acquisitions been consummated as of the beginning of the periods presented. The pro forma amounts include the historical operating results of the Company, with adjustments directly attributable to the acquisition which included amortization of acquired intangible assets of $0.1 million and $1.7 million in the year ended March 31, 2022 and 2021, respectively, and transaction costs of $0.1 million and $0.1 million included in the year ended March 31, 2022 and 2021, respectively.

Property and Equipment

Property and Equipment	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5 — Property and Equipment The Company’s property and equipment at March 31, 2022 and 2021 was as follows (in thousands): As of March 31, 2022 2021 Property and equipment, net Computer, machinery, and software equipment $ 5,508 $ 5,277 Furniture and fixtures 141 141 Leasehold improvements 531 531 Capitalized internally developed software 13,860 10,154 Total property and equipment 20,040 16,103 Less accumulated depreciation and amortization (15,352 ) (11,736 ) Total property and equipment, net $ 4,688 $ 4,367 Depreciation and amortization expense was $3.6 million and $3.2 million for the years ended March 31, 2022 and 2021, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets Goodwill The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the years ended March 31, 2022 and 2021 (in thousands): Goodwill Balance as of April 1, 2020 $ 9,672 Acquisitions 12,947 Balance as of March 31, 2021 $ 22,619 Acquisition 459 Purchase price adjustment (See Note 4 – Business Combinations) 301 Balance as of March 31, 2022 $ 23,379 Indefinite-Lived Intangible Assets The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company’s reportable segment for the year ended March 31, 2022 (in thousands): Tradenames Balance as of April 1, 2020 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2021 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2022 $ 4,637 Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of March 31, 2022 (in thousands): Gross Accumulated Net Software $ 19,281 $ 16,389 $ 2,892 Intellectual property (patents) 5,366 1,520 3,846 Customer relationships 6,570 6,177 393 Content creator relationships 772 772 - Domain names 514 83 431 Brand and trade names 2,643 454 2,189 Non-compete agreement 250 181 69 Customer list 2,998 735 2,263 Total $ 38,394 $ 26,311 $ 12,083 The Company’s finite-lived intangible assets were as follows as of March 31, 2021 (in thousands): Gross Accumulated Net Software $ 19,281 $ 12,533 $ 6,748 Intellectual property (patents) 5,366 1,163 4,203 Customer relationships 6,570 5,652 918 Content creator relationships 772 371 401 Domain names 429 31 398 Brand and trade names 2,571 253 2,318 Non-compete agreement 250 97 153 Customer list 2,903 211 2,692 Total $ 38,142 $ 20,311 $ 17,831 The Company’s amortization expense on its finite-lived intangible assets was $6.0 million and $5.6 million for the years ended March 31, 2022 and 2021, respectively. The Company estimated future amortization expense on its finite-lived intangible assets as of March 31, 2022 to be as follows (in thousands): For Years Ended March 31, 2023 $ 4,543 2024 1,074 2025 1,074 2026 1,074 2027 1,074 Thereafter 3,244 $ 12,083

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Note 7 — Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at March 31, 2022 and 2021 were as follows (in thousands): March 31, March 31, 2022 2021 Accounts payable $ 29,640 $ 18,541 Accrued liabilities 15,505 13,786 Lease liabilities, current 273 319 Total $ 45,418 $ 32,646

Notes Payable

Notes Payable	12 Months Ended
	Mar. 31, 2022
Note Payable [Abstract]
Notes Payable	Note 8 — Notes Payable The Company’s notes payable at March 31, 2022 and 2021 were as follows (in thousands): March 31, March 31, 2022 2021 Senior promissory note $ - $ 351 SBA loan 160 153 PPP loans - 3,110 160 3,614 Less: Current portion of Notes payable (12 ) (2,729 ) Notes payable $ 148 $ 885 Senior Promissory Note On December 31, 2014, the Company converted accounts payable into a Promissory Note (the “Note”) in the aggregate principal amount of $0.2 million. As of March 31, 2022 the promissory note and related Delaware and California judgments have been satisfied in full. SBA Loan On June 17, 2020, the Company received the proceeds from a loan in the amount of less than $0.2 million from the SBA. Installment payments, including principal and interest, begin 12-months from the date of the promissory note. The balance is payable 30-years from the date of the promissory note, and bears interest at a rate of 3.75% per annum. The Company was in compliance with all debt covenants associated with the SBA loan as of March 31, 2022. PPP Loans In April 2020, the Company received proceeds of $2.0 million from a PPP loan. In April 2021, the Company received confirmation from the SBA that the entire balance of such PPP loan was forgiven as a result of the Company’s application and acceptance under the terms of the CARES Act. On July 1, 2020, the Company acquired PodcastOne that had previously obtained a PPP loan, which had a balance of $0.5 million as of March 31, 2021. On May 11, 2021, the Company received confirmation from the SBA that the entire balance of such PPP loans were forgiven as a result of the Company’s application and acceptance under the terms of the CARES Act. On March 20, 2021, the Company received proceeds of $0.6 million from a second loan (the “Second PPP loan”) under the PPP of the CARES Act, which the Company intends to use to retain employees and for other qualifying expenses. The Second PPP Loan matures on March 20, 2026 and bears annual interest at a rate of 1.0%. In March 2022, the Company received confirmation from the SBA that the entire balance of the Second PPP loan was forgiven as a result of the Company’s application and acceptance under the terms of the CARES Act. The Company recognized a $3.1 million gain on forgiveness of PPP loans, included in total other expense, net in the accompanying consolidated statement of operations as a result of the balance of PPP loans forgiven during the year ended March 31, 2022.

Unsecured Convertible Notes

Unsecured Convertible Notes	12 Months Ended
	Mar. 31, 2022
Unsecured Convertible Notes [Abstract]
Unsecured Convertible Notes	Note 9 — Unsecured Convertible Notes The Company’s unsecured convertible notes payable at March 31, 2022 and 2021 were as follows (in thousands): March 31, March 31, 2022 2021 Unsecured Convertible Notes - Related Party (A) 8.5% Unsecured Convertible Note - Due May 31, 2023 $ 4,702 $ 4,397 (B) 8.5% Unsecured Convertible Notes - Due May 31, 2023 1,177 1,104 Net 5,879 5,501 Unsecured Convertible Promissory Note $ - $ 2,000 Accrued interest - 186 Less: Discount - (223 ) Fair Value of Embedded Derivatives - 13 Net - 1,976 Unsecured Convertible Promissory Notes, Net $ 5,879 $ 7,477 Unsecured Convertible Promissory Notes, Net, Current - 1,976 Unsecured Convertible Promissory Notes, Net, Long-Term $ 5,879 $ 5,501 The Company incurred interest expense of $0.5 million and $0.7 million attributed to its unsecured convertible notes for the year ended March 31, 2022 and 2021, respectively. Total principal maturities of the Company’s unsecured convertible notes are $5.9 million for the year ending March 31, 2024. Unsecured Convertible Notes – Related Party As of March 31, 2022 and March 31, 2021, the Company had outstanding 8.5% unsecured convertible notes payable (the “Trinad Notes”) issued to Trinad Capital Master Fund Ltd. (“Trinad Capital”), a fund controlled by Mr. Ellin, the Company’s Chief Executive Officer, Chairman, director and principal stockholder, as discussed below. The Trinad Notes are convertible into shares of the Company’s common stock at a fixed conversion price of $3.00 per share. The first Trinad Note was issued on February 21, 2017, to convert aggregate principal and interest of $3.6 million under the first senior promissory note and second senior promissory note with Trinad Capital previously issued on December 31, 2014 and April 8, 2015, respectively. The first Trinad Note was due on March 31, 2018 and was extended to May 31, 2023 (as discussed below). At March 31, 2022, the balance due of $5.9 million, which included $1.4 million of accrued interest, was outstanding under the first Trinad Note. At March 31, 2021, the balance due of $4.4 million, which included $1.0 million of accrued interest, was outstanding under the first Trinad Note. Between October 27, 2017 and December 18, 2017, the Company issued six unsecured convertible notes payable to Trinad Capital for aggregate total principal amount of $1.1 million. The notes were due on various dates through December 31, 2018 and were extended to May 31, 2023 (as discussed below). As of March 31, 2022 and 2021, $0.3 million and $0.1 million of accrued interest was included in the principal balance, respectively. On August 11, 2021, the Company entered into an Amendment of Notes Agreement (the “Amendment Agreement”) with Trinad Capital pursuant to which the maturity date of all of the Trinad Notes was extended to May 31, 2023, and in consideration of such extension, the Company issued to Trinad Capital 33,654 shares of its common stock. The Company evaluated the Amendment Agreement and the amendment was required to be accounted for as an extinguishment under ASC 470-50, Debt – Modifications and Extinguishment. As a result, we determined that the amendment should be accounted for as an extinguishment and we recorded the amended debt instrument at fair value which included the consideration in common stock transferred. The resulting loss on extinguishment recorded of $4.3 million is included in loss on extinguishment of debt in the accompanying consolidated statement of operations for the year ended March 31, 2022. In addition, the Company recorded a $4.2 million benefit to additional paid in capital as a result of the excess of the deemed fair value of the Trinad Notes over the principal and accrued interest outstanding at the time of extinguishment. The Company may not redeem any of the Trinad Notes prior to May 31, 2023 without Trinad Capital’s consent. Unsecured Convertible Promissory Note On February 5, 2020, React Presents issued a two-year $2 million Convertible Promissory Note (the “Note”), bearing annual interest at 8%. The purpose of the Note was to fund the acquisition of React Presents. All unpaid and outstanding principal and any unpaid and accrued interest was due on February 5, 2022. At issuance, the Note was convertible by the holder at any time prior to maturity in part or in whole with the unpaid interest and principal convertible at a conversion price equal to $4.50 per share of the Company’s common stock, subject to certain protective adjustments. The Note may be prepaid in whole or in part in cash without penalty at any time prior to maturity. Any such prepayment will be applied to accrued interest first and then the principal. Effective December 31, 2021, the Note holder converted the Note in whole pursuant to an exchange agreement entered into during the year ended March 31, 2022, which provided for an exchange of the Note into shares of the Company’s common stock at a price of $2.10 per share, resulting in 1,155,143 shares issued upon the exchange. As a result of the effective exchange incentives offered to the Note holder, the Company recorded a $0.8 million expense to Other Income (expense) in the accompanying consolidated statement of operations for the year ended March 31, 2022. The Company was in compliance with all debt covenants associated with their unsecured convertible debt as of Mach 31, 2022.

Senior Secured Convertible Note

Senior Secured Convertible Notes	12 Months Ended
	Mar. 31, 2022
Senior Secured Convertible Notes [Abstract]
Senior Secured Convertible Notes	Note 10 — Senior Secured Convertible Notes The Company’s senior secured convertible notes at March 31, 2022 and 2021 were as follows (in thousands): March 31, March 31, 2022 2021 Senior Secured Convertible Notes $ 15,000 $ 15,000 Fair value of embedded derivatives 18 118 Less: Discount (1,368 ) (2,071 ) Senior Secured Convertible Notes, long-term $ 13,650 $ 13,047 On September 15, 2020 (the “Closing Date”), the Company issued two-year secured convertible notes in the aggregate principal amount of $15.0 million (the “Harvest Notes”) to Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners, Ltd. (collectively, the “Purchaser”). The Purchaser are funds affiliated with No Street Capital, a San Francisco-based investment firm. The Harvest Notes mature on June 3, 2023, accrued interest at 8.5% per year with interest is payable quarterly in cash in arrears, and are convertible into shares of the Company’s common stock at a conversion price of $4.50 per share at the applicable Purchaser’s option, subject to certain customary adjustments such as stock splits, stock dividends and stock combinations (the “Conversion Price”). The Company does not have the right to prepay any or all of the Harvest Notes prior to their maturity. The current portion of accrued interest related to the Harvest Notes is included in Accounts payable and accrued liabilities in the accompanying consolidated balance sheets. The Company’s obligations under the Harvest Notes may be accelerated upon the occurrence of certain customary events of default (as defined in the Harvest Notes) and are guaranteed under a Subsidiary Guarantee, dated as of the Closing Date (the “Subsidiary Guarantee”), entered into by all of the Company’s subsidiaries (the “Guarantors”) in favor of the Purchaser. The Company’s obligations under the Harvest Notes and the Guarantors’ obligations under the Subsidiary Guarantee are secured under a Security Agreement, dated as of the Closing Date (the “Security Agreement”), and an Intellectual Property Security Agreement, dated as of the Closing Date (the “IP Security Agreement”), by a lien on all of the Company’s and the Guarantors’ assets and intellectual property, subject to certain exceptions. The Harvest Notes require the Company to maintain aggregate cash deposits of $10.0 million until the Harvest Notes are paid in full. In May 2021 and in connection with the Company entering into a $7.0 million senior secured revolving credit facility, the holders of the Harvest Notes subordinated their security interest and extended the maturity date of the notes to June 3, 2023. In consideration of the above, the Company issued 60,000 shares of its common stock to the Purchaser. The Company evaluated this agreement and it was required to be accounted for as troubled debt restructuring under ASC 470-60, Troubled Debt Restructurings by Debtors. As a result, the Company recorded the shares of common stock issued to the Purchaser as an increase to Additional Paid In Capital and a corresponding debt discount included in Secured Convertible Notes, net in the accompanying consolidated balance sheets. The Company and the Purchaser also entered into a Registration Rights Agreement, dated as of the Closing Date (the “RRA”), which granted the Assignees “demand” and “piggyback” registration rights to register the shares of Common Stock issuable upon the conversion of the Notes and the Shares (collectively, the “Registrable Securities”) with the SEC for resale or other disposition. Pursuant to the RRA, the Company filed a resale Registration Statement on Form S-3 on October 14, 2020, and it was declared effective by the SEC on October 21, 2020. The Company also agreed to keep the initial Registration Statement continuously effective until the earliest to occur of (i) the date on which all of the Registrable Securities registered thereunder have been sold and (ii) the date on which all of the Registrable Securities covered by such Registration Statement may be sold without volume restriction pursuant to Rule 144 under the Securities Act. In connection with the SPA, and the Harvest Notes subsequent extension, Robert S. Ellin, the Company’s CEO, Chairman, director and principal stockholder, agreed not to dispose of any equity securities of the Company owned by Mr. Ellin or any entity of which he is the beneficial owner and not to cease to be the beneficial owner of any other equity securities of the Company of which Mr. Ellin is the beneficial owner as of June 3, 2021 until the Harvest Notes are paid in full (subject to certain customary exceptions), without the Purchaser’s prior written consent. The Harvest Notes and the Shares were issued in private placement transaction that was not registered under the Securities Act, in reliance upon applicable exemptions from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated thereunder. The Company recorded $2.3 million and $0.9 million in interest expense associated with the notes for the years ended March 31, 2022 and 2021, respectively, of which $1.0 million and $0.5 million was attributed to the accretion of the debt discount associated with the senior secured convertible notes. The Company was in compliance with all debt covenants associated with their senior secured convertible debt as of Mach 31, 2022.

Senior Secured Revolving Line o

Senior Secured Revolving Line of Credit	12 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Senior Secured Revolving Line of Credit	Note 11 — Senior Secured Revolving Line of Credit On June 2, 2021, the Company entered into a Business Loan Agreement with East West Bank (the “Senior Lender”), which provides for a revolving credit facility collateralized by all of the assets of the Company and its subsidiaries. In connection with the Business Loan Agreement, the Company entered into a Promissory Note with the Senior Lender and established the revolving line of credit in the amount of $7.0 million (the “Revolving Credit Facility”), maturing on June 2, 2023. Under the terms of the Promissory Note, the Revolving Credit Facility bears interest at a variable rate equal to the Wall Street Journal Prime Rate, plus 0.5%. The interest rate for the year ended March 31, 2022 was 4.00% The principal balance under the Revolving Credit Facility as of March 31, 2022 was $7.0 million. The Company was in compliance with all debt covenants associated with the senior secured revolving line of credit as of March 31, 2022. Maturity analysis for the Company’s total outstanding debt is as follows: For the years ended March 31, 2023 $ 12 2024 27,897 Thereafter 148 Total debt outstanding 28,057 Less: Debt discount on senior secured convertible notes and line of credit (1,403 ) Total notes payable, convertible notes, related and non-related party, net and senior secured line of credit $ 26,654

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 12 — Related Party Transactions As of March 31, 2022 and March 31, 2021, the Company had unsecured convertible Trinad Notes outstanding which were issued to Trinad Capital as described in Note 9 – Unsecured Convertible Notes.

Leases

Leases	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 13 — Leases The Company leases a space at a location under a non-cancellable operating lease with a remaining lease term of 1 year, which expired in fiscal year 2022 and was renewed for an additional year. On December 22, 2020, the Company acquired CPS which included the assumption of an operating lease for a 55,120 square foot light manufacturing facility located in Addison Illinois, expiring June 30, 2024. The Company leases several office locations with lease terms that are less than 12 months or are on month to month terms. Rent expense is recognized over the term of the lease on a straight-line basis. Rent expense for these leases totaled $0.3 million for the year ended March 31, 2022. Operating leases with lease terms of greater than 12 months are capitalized in Operating lease right-of-use assets and Operating lease liabilities in the consolidated balance sheet. Rent expense for these operating leases totaled $0.8 million and $0.5 million the years ended March 31, 2022 and 2021, respectively, which is included in general and administrative expenses in the consolidated statement of operations. Operating lease costs for the years ended March 31, 2022 and 2021 consisted of the following (in thousands): Year Ended March 31, 2022 2021 Fixed rent cost $ 752 507 Short term lease cost 210 281 Total operating lease cost $ 962 788 Supplemental balance sheet information related to leases was as follows (in thousands): Operating leases March 31, March 31, Operating lease right-of-use assets $ 728 1,057 Operating lease liability, current $ 273 319 Operating lease liability, noncurrent 468 742 Total operating lease liabilities $ 741 1,061 The operating lease right-of-use assets are included in other assets in the March 31, 2022 consolidated balance sheets, and operating lease liabilities are included in accounts payable and accrued liabilities and lease liabilities non-current in the March 31, 2022 consolidated balance sheets. Future maturities of operating lease liabilities as of March 31, 2022 were as follows (in thousands): For Years Ending March 31, 2023 $ 358 2024 320 2025 93 Total lease payments 771 Less: imputed interest (30 ) Present value of operating lease liabilities $ 741 Significant judgments Discount rate – the Company’s lease is discounted using the Company’s incremental borrowing rate of 8.5% as the rate implicit in the lease is not readily determinable. Options – the lease term is the minimum noncancelable period of the lease. The Company does not include option periods unless the Company determined it is reasonably certain of exercising the option at inception or when a triggering event occurs. Lease and non-lease components – Non lease components were considered and determined not to be material. Month to month arrangements React Presents leases its Chicago, Illinois premises under a month-to-month lease. Rent expense for the operating leases totaled less than $0.1 million and $0.1 million for the years ended March 31, 2022 and March 31, 2021, respectively. PodcastOne leases its Los Angeles premises under a month-to-month operating lease. Rent expense for the operating leases totaled $0.3 million and $0.3 million for the year ended March 31, 2022 and the period from the acquisition date to March 31, 2021, respectively.

Other Long-Term Liabilities

Other Long-Term Liabilities	12 Months Ended
	Mar. 31, 2022
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Long-Term Liabilities	Note 14 — Other Long-Term Liabilities On October 30, 2020, Slacker entered into an amendment to existing agreements with a certain licensor of music content (the “Music Partner”) which own and license rights to Slacker to certain sound recordings. Pursuant to this amendment, payment terms on $5.9 million of outstanding balances to the Music Partner were extended over periods between 12 and 24 months. During the year ended March 31, 2022 the amount owed the Music Partner was paid in full. March 31, March 31, 2022 2021 Due to Music Partner $ - $ 3,937 Other long-term liabilities 174 2,422 The amount included in Other long-term liabilities is comprised of a contingent consideration liability resulting from the business combination with PodcastOne (Note 4 - Business Combinations) and is carried at fair value (see Note 20 - Fair Value Measurements).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 — Commitments and Contingencies Promotional Rights Certain of the Company’s content acquisition agreements contain minimum guarantees, and require that the Company makes upfront minimum guarantee payments. As of March 31, 2022, the Company has licenses, production and/or distribution agreements to make guaranteed payments as follows: $0.1 million for the fiscal year ending March 31, 2023. These agreements also provide for a revenue share that ranges between 35% and 50% of net revenues. In addition, there are other licenses, production and/or distribution agreements that provide for a revenue share of 50% on net revenues; however, without a requirement to make future minimum guaranteed payments irrespective to the execution and results of the planned events. Contractual Obligations As of March 31, 2022, the Company is obligated under agreements with Content Providers and other contractual obligations to make guaranteed payments as follows: $6.6 million for the fiscal year ending March 31, 2023, $5.5 million for the fiscal year ending March 31, 2024, $0.3 million for the fiscal year ending March 31, 2025 and $0.2 million for the fiscal year ending March 31, 2026. On a quarterly basis, the Company records the greater of the cumulative actual content acquisition costs incurred or the cumulative minimum guarantee based on forecasted usage for the minimum guarantee period. The minimum guarantee period is the period of time that the minimum guarantee relates to, as specified in each agreement, which may be annual or a longer period. The cumulative minimum guarantee, based on forecasted usage, considers factors such as listening hours, revenue, members and other terms of each agreement that impact the Company’s expected attainment or recoupment of the minimum guarantees based on the relative attribution method. Several of the Company’s content acquisition agreements also include provisions related to the royalty payments and structures of those agreements relative to other content licensing arrangements, which, if triggered, could cause the Company’s payments under those agreements to escalate. In addition, record labels, publishers and performing rights organizations with whom the Company has entered into direct license agreements have the right to audit the Company’s content acquisition payments, and any such audit could result in disputes over whether the Company has paid the proper content acquisition costs. However, as of March 31, 2022, the Company does not believe it is probable that these provisions of its agreements discussed above will, individually or in the aggregate, have a material adverse effect on its business, financial position, results of operations or cash flows. Employment Agreements As of March 31, 2022, the Company has employment agreements with two named executive officers (“Section 16 Officers”) that provide salary payments of $0.5 million and target bonus compensation of up to $0.5 million for the year ending March 31, 2023. Furthermore, such employment agreements contain severance clauses that could require severance payments in the aggregate amount of $10.5 million (excluding the value of potential payouts of discretionary bonuses, pro-rata bonuses, and potential accelerated vesting of equity awards granted to such executive officers). Legal Proceedings On April 10, 2018, Joseph Schnaier, Danco Enterprises, LLC (an entity solely owned by Mr. Schnaier, “Danco”), Wantmcs Holdings, LLC (Mr. Schnaier is the managing member) and Wantickets (Mr. Schnaier is the 90% beneficial owner) filed a complaint in the Supreme Court of the State of New York, County of New York against each of the Company, LiveXLive Tickets, Inc. (“LXL Tickets”), Robert S. Ellin, Alec Ellin, Blake Indursky and Computershare Trust Company, N.A. (“Computershare”). Plaintiffs subsequently voluntarily dismissed all claims against Alec Ellin, Blake Indursky and Computershare. The complaint alleged multiple causes of action arising out of Schnaier’s investment (through Danco) into the Company in 2016, LXL Tickets’ purchase of certain operating assets of Wantickets pursuant to the Asset Purchase Agreement, dated as of May 5, 2017, and Mr. Schnaier’s employment with LXL Tickets, including claims for fraudulent inducement, breach of contract, conversion, and defamation. Based on the remaining claims, plaintiffs are seeking damages of approximately $10.0 million as shall be determined at trial, if any, plus interest, attorneys’ fees and costs and other such relief as the court may award. The Company has denied and continue to deny plaintiffs’ claims. The Company believes that the complaint is an intentional act by the plaintiffs to publicly tarnish the Company’s and its senior management’s reputations through the public domain in an effort to obtain by threat of litigation certain results for Mr. Schnaier’s self-serving and improper purposes. The Company is vigorously defending this lawsuit and believes that the allegations are without merit and that it has strong defenses. On June 26, 2018, the Company and LXL Tickets, filed counterclaims against the plaintiffs for breach of contract (including under the Asset Purchase Agreement), fraudulent inducement, and other causes of action, seeking injunctive relief, damages, attorneys’ fees and expenses and such other relief as the court may award. In October 2018, pursuant to the terms of the APA, the Company submitted a formal demand to Wantickets, Mr. Schnaier and Danco to indemnify the Company, among other things, for its costs and expenses incurred in connection with this matter. In November 2021, the court denied our summary judgment motion to dismiss plaintiffs’ fraudulent inducement claim, and dismissed plaintiff’s breach of the employment agreement claim with respect to the Company. As of March 31, 2022, all of plaintiffs’ claims other than fraudulent inducement were dismissed or addressed by the parties or the court. While a trial date has not yet been set, the Company expects the trial to commence sometime during the fiscal year ending March 31, 2023 (unless further extended as a result of the COVID-19 pandemic). The Company intends to continue to vigorously defend all remaining defendants against any liability to the plaintiffs with respect to the remaining claims, and the Company believes that the allegations are without merit and that it has strong defenses. As of March 31, 2022, while the Company has assessed that the likelihood of a loss, if any, is not probable, the outcome of this lawsuit is inherently uncertain and the potential range of loss could have a material adverse effect on the Company’s business, financial condition and results of operations. During each of the years ended March 31, 2022 and 2021, the Company recorded legal settlement expenses relating to potential claims arising in connection with litigation brought against the Company by certain third-parties were not material and were included in general and administrative expenses in the accompanying consolidated statement of operations. From time to time, the Company is involved in legal proceedings and other matters arising in connection with the conduct of its business activities. Many of these proceedings may be at preliminary stages and/or seek an indeterminate amount of damages. In the opinion of management, after consultation with legal counsel, such routine claims and lawsuits are not significant and we do not currently expect them to have a material adverse effect on our business, financial condition, results of operations, or liquidity.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Mar. 31, 2022
Employee Benefit Plan [Abstract]
Employee Benefit Plan	Note 16 — Employee Benefit Plan The Company sponsors a 401(k) plan (the “401(k) Plan”) covering all employees. Prior to March 31, 2019, only Slacker employees were eligible to participate in the 401(k) Plan. Employees are eligible to participate in the 401(k) Plan the first day of the calendar month following their date of hire. The Company may make discretionary matching contributions to the 401(k) Plan on behalf of its employees up to a maximum of 100% of the participant’s elective deferral up to a maximum of 5% of the employees’ annual compensation. The Company provided a contribution of $0.1 million and $0.1 million, to its employees for the years ended March 31, 2022 and 2021, respectively.

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Stockholders’ Equity	Note 17 — Stockholders’ Equity Issuance of Common Stock in Private Offerings In July 2020, the Company issued directly to a certain institutional investor and another investor a total of 1,820,000 shares of the Company’s common stock for net proceeds of approximately $7.3 million after offering costs at a price per share of $4.14. The offering of the shares was made pursuant to the Shelf S-3 and a prospectus supplement related to the offering filed with the SEC on July 23, 2020. Issuance of Restricted Shares of Common Stock for Services to Consultants and Vendors During the year ended March 31, 2022, the Company incurred $0.7 million in accounts payable and accrued liabilities for stock earned by its consultants, but not yet issued. The remaining unrecognized compensation cost of less than $0.1 million is expected to be recorded over the next year as the shares vest. During year ended March 31, 2021, the Company issued 4,061,326 shares of its common stock and restricted common stock valued at $12.6 million to certain Company consultants and vendors of which $8.8 million related to shares issued to settle accounts payable which includes the shares issued to MBRG Investors, LLC and the shares issued to a certain music partner and $3.8 million relates to shares issued in exchange for services and is included in share-based compensation. Additionally, the Company incurred $1.2 million in accounts payable and accrued liabilities for stock earned by its consultants, but not yet issued. The remaining unrecognized compensation cost associated with restricted shares of common stock issued to consultants and vendors of $0.7 million was recorded during the year ended March 31, 2022. Issuance of Common Stock to Certain Music Partner In June 2020, the Company entered into a new two-year license agreement with a certain music partner which owns and license rights to Slacker to certain sound recordings. Pursuant to this agreement, the Company agreed to certain minimum yearly guarantee payments and issued 264,000 shares of its restricted common stock to such music partner in consideration of all payments due to the music partner prior the date of the agreement. These shares issued are included in the total number of shares issued to consultants and vendors above. In July 2020, the Company issued to a certain music licensor 2,415,459 shares (the “Shares”) of its common stock at a price of $3.28 per share, to satisfy the Company’s payment obligation in the amount of $10.0 million owed to such music licensor (the “Threshold Amount”). These shares issued are included in the total number of shares issued to consultants and vendors above. In the event that the value of the Shares as of September 30, 2020 was less than the Threshold Amount, the Company agreed to make an additional cash payment to such music licensor in an amount equal to the difference between (i) the Threshold Amount and (ii) the sum of (x) the net proceeds of any sales of the Shares by the music licensor plus (y) the aggregate value of the Shares not sold by the music licensor as of such date. As of March 31, 2021, the Company accrued $1.8 million related to additional cash payment required which is included in Accrued Royalties in the consolidated balance sheet and classified as a current liability. The shares were issued pursuant to the Shelf S-3 and a prospectus supplement related to the offering of these shares filed with the SEC on July 22, 2020. The Company did not receive any cash proceeds from the offering of these shares. 2016 Equity Incentive Plan The Company’s board of directors and stockholders approved the Company’s 2016 Equity Incentive Plan, as amended (the “2016 Plan”) which reserved a total of 12,600,000 shares of the Company’s common stock for issuance. On September 17, 2020, our stockholders approved the amendment to the 2016 Plan to increase the number of shares available for issuance under the plan by 5,000,000 shares increasing the total up to 17,600,000 shares which the Company formally increased on June 30, 2021. Incentive awards authorized under the 2016 Plan include, but are not limited to, nonqualified stock options, incentive stock options, restricted stock awards, restricted stock units, performance grants intended to comply with Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), and stock appreciation rights. If an incentive award granted under the 2016 Plan expires, terminates, is unexercised or is forfeited, or if any shares are surrendered to the Company in connection with the exercise of an incentive award, the shares subject to such award and the surrendered shares will become available for further awards under the 2016 Plan. The Company recognized share-based compensation expense of $12.7 million and $11.3 million during the years ended March 31, 2022 and 2021, respectively. The total tax benefit recognized related to share-based compensation expense was $0 for the years ended March 31, 2022 and 2021. Share-based compensation expense during the year ended March 31, 2022 and 2021 includes the impact from differences in the timing of expense recognized in the statement of operations and the share issuances recorded in additional paid in capital, capitalization of internally developed software costs, and the benefit from the reversal of a previously accrued discretionary share-based award bonus of $1.1 million during the year ended March 31, 2022. The maximum contractual term for awards is 10 years. As of March 31, 2022, there were 4,484,713 shares of common stock available for future issuance under the 2016 Plan. Options Grants to Employees Stock option awards are granted with an exercise price equal to the fair market value of the Company’s common stock at the date of grant based on the closing market price of its common stock as reported on The Nasdaq Capital Market. The option awards generally vest over four years and are exercisable any time after vesting. The stock options expire ten years after the date of grant. As of March 31, 2022, unrecognized compensation costs for unvested awards to employees was $1.1 million, which is expected to be recognized over a weighted-average service period of 5.83 years. The following table provides information about our option grants made to employees during the last two fiscal years: Year Ended March 31, 2022 2021 Number of options granted 205,000 350,000 Weighted-average exercise price per share $ 1.19 $ 4.11 Weighted-average grant date fair value per share $ 1.74 $ 1.85 The grant date fair value of each of these option grants to employees was determined using the Black-Sholes-Merton option-pricing model with the following assumptions: Year Ended March 31, 2022 2021 Expected volatility 77.36% - 84.98 % 53.97% - 73.61 % Dividend yield - % - % Risk-free rate 0.75% - 2.17 % 0.22% - 0.46 % Expected term (in years) 5.09 – 6.87 5.25 - 7.00 The following table summarizes the activity of our options issued to employees during the years ended March 31, 2022 and 2021: Number of Shares Weighted- Outstanding as of April 1, 2020 4,403,334 $ 3.74 Granted 350,000 4.11 Exercised (654,250 ) 3.90 Forfeited or expired (177,500 ) 4.00 Outstanding as of March 31, 2021 3,921,584 3.74 Granted 205,000 1.74 Exercised (400,460 ) 2.18 Forfeited or expired (160,933 ) 4.10 Outstanding as of March 31, 2022 3,565,191 3.78 Exercisable as of March 31, 2022 3,207,358 3.97 The weighted-average remaining contractual term for options to employees outstanding and options to employees exercisable as of March 31, 2022 was 6.22 years and 5.83 years, respectively. The intrinsic value of options to employees outstanding and options to employees exercisable was none and none, respectively, at March 31, 2022. The intrinsic value of options exercised was $0.3 million and none, respectively, at March 31, 2022 and 2021. The fair value of stock options that were exercised during the year ended March 31, 2022 and 2021 was $0.9 million and $2.6 million, respectively. The fair value of stock options that were forfeited during the year ended March 31, 2022 and 2021 was $0.7 million and $0.7 million, respectively. The fair value of stock options outstanding and exercisable at March 31, 2022 was $13.5 million and $12.7 million, respectively. The fair value of stock options outstanding and exercisable at March 31, 2021 was $14.8 million and $12.9 million, respectively. On April 11, 2018, the Company granted options to purchase 1,326,667 shares of its common stock to 4 key executives. In fiscal 2021, the Board of Directors approved an amendment to the key executive’s employment agreement which modified the exercise periods associated with these options. The modified terms approved by the Board of Directors, which extended the original exercise period from 3 to 12 months, resulted in incremental fair value which was recognized as incremental share-based compensation expense of $0.9 million during the year ended March 31, 2021. Options Grants to Non-Employees As of March 31, 2022, there were no unrecognized compensation costs for unvested awards to non-employees. There were no option grants to non-employees for the last two fiscal years. The following table summarizes the activity of our options issued to non-employees during the years ended March 31, 2022 and 2021: Number of Shares Weighted- Outstanding as of April 1, 2020 25,000 $ 4.00 Granted - - Exercised - - Forfeited or expired 4.00 Outstanding as of March 31, 2021 25,000 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2022 25,000 4.00 Exercisable as of March 31, 2022 25,000 4.00 The weighted average remaining contractual term for options to non-employees outstanding as of March 31, 2022 was 5.9 years. The intrinsic value of options to non-employees outstanding and options to non-employees exercisable was none at March 31, 2022. Restricted Stock Units Grants As of March 31, 2022, unrecognized compensation costs for unvested awards to employees was $2.1 million, which is expected to be recognized over a weighted-average service period of 0.96 years. The following table provides information about our restricted stock units grants made to employees during the last two fiscal years: Year Ended March 31, 2022 2021 Number of units granted 2,555,767 1,914,136 Weighted-average grant date fair value per share $ 3.77 $ 3.15 The following table summarizes the activity of our restricted stock units issued to employees during the years ended March 31, 2022 and 2021: Number of Shares Outstanding as of April 1, 2020 4,530,705 Granted 1,914,136 Vested (1,641,082 ) Cancelled (290,843 ) Outstanding as of March 31, 2021 4,512,916 Granted 2,555,767 Vested (2,518,791 ) Cancelled (1,485,517 ) Outstanding as of March 31, 2022 3,064,375 The fair value of restricted stock units that vested during the year ended March 31, 2022 and 2021 was $10.7 million and $5.8 million, respectively. The fair value of restricted stock units that were forfeited during the year ended March 31, 2022 and 2021 was $5.0 million and $0.6 million, respectively. Restricted Stock Awards The following table summarizes the activity of our restricted stock awards made to employees during the years ended March 31, 2022 and 2021: Number of Shares Outstanding as of April 1, 2020 24,675 Cancelled (24,675 ) Outstanding as of March 31, 2021 - Cancelled - Outstanding as of March 31, 2022 - In April 2018, the Company granted 1,150,000 restricted stock units to two key executives. In fiscal year 2021 (“the Modification Date”), the Company’s board of directors approved an amendment to the key executives’ employment agreement which modified the vesting terms associated with these awards. The modified vesting terms approved by the Company’s board of directors, which modified the number of shares issued and the timing of vesting, resulted in an additional 464,557 units probable of vesting as of the Modification Date. This resulted in incremental share-based compensation expense of $0.3 million during the year ended March 31, 2021. Issuance of Restricted Shares of Common Stock for Services to Employees During each of the years ended March 31, 2022 and 2021, the Company issued no shares of its restricted common stock to employees. As of March 31, 2022 and 2021, there was no remaining unrecognized compensation cost related to these awards. Warrants The table below summarizes the Company’s warrant activities: Number of Warrants Weighted Average Exercise Weighted- Balance outstanding, April 1, 2020 167,363 $ 4.01 0.94 Granted - - - Exercised - - - Forfeited/expired (167,363 ) 4.01 0.94 Balance outstanding, March 31, 2021 - - - Granted - - - Balance outstanding, March 31, 2022 - - - Exercisable, March 31, 2022 - - - Authorized Common Stock and Creation of Preferred Stock The Company has the authority to issue up to 510,000,000 shares, consisting of 500,000,000 shares of the Company’s common stock and 10,000,000 shares of the Company’s preferred stock, $0.001 par value per share (the “preferred stock”). The Company may issue shares of preferred stock from time to time in one or more series, each of which will have such distinctive designation or title as shall be determined by the Company’s board of directors and will have such voting powers, full or limited, or no voting powers, and such preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated in the resolution or resolutions providing for the issue of such class or series of preferred stock as may be adopted from time to time by the Company’s board of directors. The Company’s board of directors will have the power to increase or decrease the number of shares of preferred stock of any series after the issuance of shares of that series, but not below the number of shares of such series then outstanding. In case the number of shares of any series shall be decreased, the shares constituting such decrease will resume the status of authorized but unissued shares of preferred stock. While the Company does not currently have any plans for the issuance of preferred stock, the issuance of such preferred stock could adversely affect the rights of the holders of common stock and, therefore, reduce the value of the common stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of the common stock until and unless the Company’s board of directors determines the specific rights of the holders of the preferred stock; however, these effects may include: restricting dividends on the common stock, diluting the voting power of the common stock, impairing the liquidation rights of the common stock, or delaying or preventing a change in control of the Company without further action by the stockholders. Stock Repurchase Program In December 2020, we announced that our board of directors has authorized the repurchase up to two million shares of our outstanding common stock from time to time. The timing, price, and quantity of purchases under the program will be at the discretion of our management and will depend upon a variety of factors including share price, general and business market conditions, compliance with applicable laws and regulations, corporate and regulatory requirements, and alternative uses of capital. The program may be expanded, suspended, or discontinued by our board of directors at any time. Although our board of directors has authorized this stock repurchase program, there is no guarantee as to the exact number of shares, if any, that will be repurchased by us, and we may discontinue purchases at any time that management determines additional purchases are not warranted. We cannot guarantee that the program will be consummated, fully or all, or that it will enhance long-term stockholder value. The program could affect the trading price of our common stock and increase volatility, and any announcement of a termination of this program may result in a decrease in the trading price of our common stock. In addition, this program could diminish our cash reserves. The Company did not purchase any shares of its common stock under the stock repurchase program for the years ended March 31, 2022 and 2021, respectively.

Income Tax Provision

Income Tax Provision	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax Provision	Note 18 — Income Tax Provision On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in the United States. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company evaluated the provisions of the CARES Act and does not anticipate the associated impacts, if any, will have a material effect on its financial position. The Company’s income tax provision can be affected by many factors, including the overall level of pre-tax income, the mix of pre-tax income generated across the various jurisdictions in which the Company operates, changes in tax laws and regulations in those jurisdictions, changes in valuation allowances on its deferred tax assets, tax planning strategies available to the Company, and other discrete items. The components of pretax loss and income tax (benefit) expense are as follows (in thousands): Year Ended March 31, 2022 2021 Loss before income taxes: Domestic $ (43,729 ) $ (42,165 ) Foreign - - Total loss before income taxes $ (43,729 ) $ (42,165 ) The provision for income taxes consisted of the following: Current U.S. Federal $ - $ - State 22 14 Foreign - - Total Current 22 14 Deferred: U.S. Federal 86 (330 ) State 75 (29 ) Foreign - - Total Deferred 161 (359 ) Total provision for income taxes $ 183 $ (345 ) The differences between income taxes expected at U.S. statutory income tax rates and the income tax provision are as follows (in thousands): Year Ended March 31, 2022 2021 Income taxes computed at Federal statutory rate $ (9,183 ) $ (8,855 ) State tax — net of federal benefit (1,343 ) (888 ) State minimum taxes - 14 Change in tax rates (51 ) (375 ) Change in valuation allowance 10,175 7,165 Permanent differences 585 2,594 Total provision for income taxes $ 183 $ (345 ) At March 31, 2022, the Company had available federal and state net operating loss carryforwards to reduce future taxable income of approximately $143.6 million and $91.7 million, respectively. The federal and state net operating loss carryforwards begin to expire on various dates beginning in 2028. Of the $143.6 million of federal net operating loss carryforwards, $54.1 million was generated in tax years beginning before March 31, 2018 and is subject to the 20-year carryforward period (“pre-Tax Act losses”), the remaining $89.5 million (“post-Tax Act losses”) can be carried forward indefinitely but is subject to the 80% taxable income limitation. The Company obtained $136.0 million and $2.6 million of net operating loss and credit carryforwards, respectively, through the acquisition of Slacker, Inc. in December 2017. Utilization of these losses is limited by Section 382 and 383 of the Code in fiscal year end March 31, 2018 and each taxable year thereafter. The Company has estimated a limitation and revalued the losses and credits at $22.0 million and $0, respectively. It is possible that the utilization of these NOL carryforwards and tax credits may be further limited. The Company will undertake a study to determine the applicable limitations, if any. Upon the attainment of taxable income by the Company, management will assess the likelihood of realizing the tax benefit associated with the use of the carryforwards and will recognize the appropriate deferred tax asset at that time. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by the federal and state jurisdictions where applicable. There are currently no pending income tax examinations. The Company’s tax years for 2017 and forward are subject to examination by the federal tax authorities and tax years for 2016 and forward are subject to examination by California tax authorities due to the carryforward of unutilized net operating losses. The Company’s policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of March 31, 2022 and 2021, the Company has not accrued interest or penalties related to uncertain tax positions. Significant components of the Company’s deferred income tax assets and (liabilities) are as follows as of (in thousands): Year Ended March 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 36,368 $ 25,994 Property and equipment 258 307 Accruals and reserves 1,718 2,060 Stock compensation 3,868 4,653 163 (j) interest expense carryforwards 1,125 832 Charitable contribution carryforward 69 63 Capital loss carryforward - 522 Gross deferred tax assets 43,406 34,431 Deferred tax liabilities: Right of use asset (185 ) - Intangible assets (3,767 ) (4,951 ) Net deferred tax assets 39,454 29,480 Valuation allowance (39,792 ) (29,617 ) Net deferred tax liability $ (338 ) $ (137 ) As the ultimate realization of the potential benefits of a portion of the Company’s deferred tax assets is considered unlikely by management, the Company has offset the deferred tax assets attributable to those potential benefits through valuation allowances. Accordingly, the Company did not recognize any benefit from income taxes in the accompanying consolidated statements of operations to offset its pre-tax losses. The valuation allowance against deferred tax assets is $39.8 million and $29.6 million for the years ended March 31, 2022 and 2021, respectively. The valuation allowance increased by $10.2 million for the year ended March 31, 2022.

Business Segment and Geographic

Business Segment and Geographic Reporting	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segment and Geographic Reporting	Note 19 — Business Segment and Geographic Reporting The Company determined its operating segments in accordance with ASC 280, “Segment Reporting” (“ASC 280”). Management has determined that the Company has one operating segment. The Company’s reporting segment reflects the manner in which its chief operating decision maker (“CODM”) reviews results and allocates resources. The CODM reviews operating segment performance exclusive of: share-based compensation expense, amortization of intangible assets, depreciation, and other expenses (including legal fees, expenses, and accruals) related to acquisitions, associated integration activities, and certain other non-cash charges. Our single operating segment is also consistent with our internal organizational structure, the way we assess operating performance and allocate sources. Customers The Company has one external customer that accounts for more than 10% of its revenue and accounts receivable. Such original equipment manufacturer (the “OEM”) provides premium Slacker service in its new vehicles. Total revenues from the OEM were $32.3 million and $23.3 million for the years ended March 31, 2022 and 2021, respectively. Total receivables from the OEM were 24% and 21% of total accounts receivable as of March 31, 2022 and 2021, respectively. Geographic Information The Company operates as an Internet live music streaming platform based in the United States. All material revenues of the Company are derived from the United States. All long-lived assets of the Company are located in the United States.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 20 — Fair Value Measurements The following table presents the fair value of the Company’s financial liabilities that are measured at fair value on a recurring basis (in thousands): March 31, 2022 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Contingent consideration liability from PodcastOne acquisition $ 2,965 $ - $ - $ 2,965 Contingent consideration liability from Gramophone acquisition 174 - - 174 Bifurcated embedded derivative on senior secured convertible note payable 18 - - 18 $ 3,157 $ - $ - $ 3,157 March 31, 2021 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Contingent consideration liability from PodcastOne acquisition $ 2,423 $ - $ - $ 2,423 Contingent consideration liability from CPS acquisition 2,513 - - 2,513 Bifurcated embedded derivative on senior secured convertible notes payable 118 - - 118 Bifurcated embedded derivative on unsecured convertible note payable 13 - - 13 $ 5,067 $ - $ - $ 5,067 The following table presents a reconciliation of the Company’s financial liabilities that are measured at Level 3 within the fair value hierarchy (in thousands): Amount Balance as of April 1, 2020 $ 665 Initial measurement of contingent consideration from PodcastOne acquisition on July 1, 2020 1,100 Initial measurement of contingent consideration from CPS acquisition on December 22, 2020 1,654 Initial measurement of embedded derivatives on senior secured convertible notes issued on September 15, 2020 671 Total fair value adjustments reported in earnings 977 Balance as of March 31, 2021 5,067 Change in fair value of bifurcated embedded derivatives, reported in earnings (113 ) Change in fair value of contingent consideration liabilities, reported in earnings (145 ) Common stock settlement of contingent consideration liability from CPS acquisition (1,826 ) Initial measurement of contingent consideration for Gramophone acquisition 174 Balance as of March 31, 2022 $ 3,157 Convertible debt and beneficial conversion features When the Company issues debt with a conversion feature, we must first assess whether the conversion feature meets the requirements to be treated as a derivative, as follows: a) one or more underlyings, typically the price of our common stock; b) one or more notional amounts or payment provisions or both, generally the number of shares upon conversion; c) no initial net investment, which typically excludes the amount borrowed; and d) net settlement provisions, which in the case of convertible debt generally means the stock received upon conversion can be readily sold for cash. An embedded equity-linked component that meets the definition of a derivative does not have to be separated from the host instrument if the component qualifies for the scope exception for certain contracts involving an issuer’s own equity. The scope exception applies if the contract is both a) indexed to its own stock; and b) classified in shareholders’ equity in its statement of financial position. If the conversion feature within convertible debt meets the requirements to be treated as a derivative, we estimate the fair value of the convertible debt derivative using the yield model with a black-scholes option pricing model upon the date of issuance. If the fair value of the convertible debt derivative is higher than the face value of the convertible debt, the excess is immediately recognized as interest expense. Otherwise, the fair value of the convertible debt derivative is recorded as a liability with an offsetting amount recorded as a debt discount, which offsets the carrying amount of the debt. The convertible debt derivative is revalued at the end of each reporting period and any change in fair value is recorded as a gain or loss in the statement of operations. The debt discount is amortized through interest expense over the life of the debt. Bifurcated embedded derivative on senior secured convertible debentures, senior secured convertible notes payable and unsecured convertible notes payable The fair value of the bifurcated embedded derivatives on senior secured convertible debentures, senior secured convertible notes payable and unsecured convertible notes was determined using the following significant unobservable inputs: March 31, March 31, 2022 2021 Bifurcated embedded derivative on senior secured convertible notes payable Market yield 4.7 % 17.0 % Bifurcated embedded derivative on unsecured convertible note payable Market yield NA % 26.5 % Significant increases or decreases in the inputs noted above in isolation would result in a significantly lower or higher fair value measurement. The Company did not elect the fair value measurement option for the following financial assets and liabilities. The fair values of certain financial instruments and the hierarchy level the Company used to estimate the fair values are shown below (in thousands): March 31, 2022 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Senior secured convertible notes payable, net 13,650 - - 15,448 Unsecured convertible notes payable related party, net 5,879 - - 6,084 March 31, 2021 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Senior secured convertible notes payable, net 13,047 - - 20,228 Unsecured convertible notes payable related party, net 5,501 - - 9,216 Unsecured convertible note payable 1,976 - - 2,167 The fair values of financial assets and liabilities not included in these tables are estimated to be equal to their carrying values as of March 31, 2022 and 2021. The Company’s estimates of the fair values were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop the estimated fair values. The fair value of the financial assets and liabilities, where the Company did not elect the fair value measurement option and carried at amortized cost, were determined using the following significant unobservable inputs: Year Ended March 31, 2022 2021 Senior secured convertible notes payable, net (binomial lattice model): Market yield 6.3 % 17.0 % Unsecured convertible notes payable related party, net (yield model with a Black-Scholes-Merton option pricing model): Market yield 6.6 % 23.0 % Unsecured convertible note payable (yield model with a Black-Scholes-Merton option pricing model): Market yield - % 26.5 % Significant increases or decreases in the inputs noted above in isolation would result in a significantly lower or higher fair value measurement. Cash equivalents and restricted cash equivalents primarily consisted of short-term interest-bearing money market funds with maturities of less than 90 days and time deposits. The estimated fair values were based on available market pricing information of similar financial instruments. Due to their short maturity, the carrying amounts of the Company’s accounts receivable, accounts payable and accrued expenses approximated their fair values at March 31, 2022 and 2021. The Company’s note payable is not publicly traded and fair value is estimated to equal carrying value. The Company’s debentures, senior secured line of credit and unsecured convertible notes payable with fixed rates are not publicly traded and the Company has estimated fair values using a variety of valuation models and market rate assumptions detailed above. The senior convertible notes payable and unsecured convertible notes are valued using a binomial lattice model and a yield model with a Black-Scholes-Merton option pricing model, respectively. The Company has estimated the fair value of contingent consideration related to the acquisitions of PodcastOne, CPS and Gramophone based on the number of shares issuable based on the achievement of certain provisions within the purchase agreement, as detailed in Note 4 – Business Combinations, using the quoted price of the Company’s common stock. The inputs used to fair value the contingent consideration on the date of acquisition were also used as of the balance sheet date.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 21 — Subsequent Events Subsequent to March 31, 2022 and as of June 28, 2022, the Company repurchased 1,186,221 shares of its common stock at an average price of $0.84 per share. On June 28, 2022, SoundExchange, Inc. (“SX”) filed a complaint in the U.S. District Court, Central District of California, against the Company and Slacker (“the defendants”). As of the date of this Annual Report, the complaint has not yet been served on the defendants. The complaint alleges that the defendants have failed to make the necessary music royalty payments and corresponding late fees required under the Digital Millennium Copyright Act late allegedly due to SX. As SX also filed an application for an order to file under seal the complaint, the amount allegedly owed by the defendants is unknown on the face of the complaint. The Company believes it has already adequately reserved for the amounts due to SX. The Company is currently evaluating its options related to this litigation and if necessary, intends to hire counsel to defend the defendants in this matter.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
COVID-19	COVID-19 In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease (“COVID-19”) as a pandemic. The global impact of the COVID-19 pandemic has had a negative effect on the global economy, disrupting the financial markets creating increasing volatility and overall uncertainty. The Company began to experience modest adverse impacts of the COVID-19 pandemic in the fourth quarter of fiscal year ended March 31, 2020 and became more adverse throughout the fiscal year ended March 31, 2021 and up to the third quarter of fiscal year ended March 31, 2022. Although the impact has subsided, the Company expects to continue experiencing modest adverse impacts throughout the fiscal year ending March 31, 2023. The Company’s event and programmatic advertising revenues were directly impacted throughout the 2021 fiscal year and mid-way through the 2022 fiscal year with all on-premise in-person live music festivals and events postponed and mixed demand from historical advertising partners. Further, one of the Company’s larger customers also experienced a temporary halt to its production as a result of COVID-19, which negatively impacted the Company’s near-term member growth in the 2021 fiscal year. During the fiscal year ended March 31, 2021, the Company enacted several initiatives to counteract these near-term challenges, including salary reductions, obtaining a Paycheck Protection Program (“PPP”) loan (see Note 8 - Notes Payable) and pivoting its live music production to 100% digital. The Company began producing, curating, and broadcasting digital music festivals and events across its platform which has resulted in the growth in the number of live events streamed, related sponsorship revenue and overall viewership. The Company also launched a new pay-per-view (“PPV”) offering in May 2020, enabling new forms of artist revenue including digital tickets, tipping, digital meet and greet and merchandise sales. However, there is uncertainty as to the duration and overall impact of the COVID-19 pandemic, which could result in an adverse material change in a future period to the Company’s results of operations, financial position and liquidity. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in the United States. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company evaluated the provisions of the CARES Act and determined it is eligible for Employee Retention Credits related to payroll taxes paid during the quarter ended September 30, 2021. In accordance with ASC 105-10-05-02, the Company analogized to International Financial Reporting Standards (“IFRS”), specifically International Accounting Standards (“IAS”) 20, Accounting for Government Grants and Disclosures of Government Assistance, On December 29, 2020, the Consolidated Appropriations Act (“CAA”) was enacted in the United States. The CAA provides numerous tax provisions and most notably for the Company changes the tax treatment of those expenses paid for with a PPP loan from non-deductible to deductible. The Company is in the process of evaluating the provisions of the CAA including obtaining a second draw Paycheck Protection Program loans and applying for the potential eligibility for Employee Retention Credits and does not anticipate the provisions included will have a material impact on its provision for income taxes.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with the United States of America (“US”) generally accepted accounting principles (“GAAP”) requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue, allowance for doubtful accounts, the assigned value of acquired assets and assumed and contingent liabilities associated with business combinations and the related purchase price allocation, useful lives and impairment of property and equipment, intangible assets, goodwill and other assets, inventory calculations and reserves, the fair value of the Company’s equity-based compensation awards and convertible debt and debenture instruments, fair values of derivatives, and contingencies. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Given the overall uncertainty surrounding the COVID-19 pandemic, there is a reasonable possibility that actual results could differ from those estimates and such differences could be material to the financial position and results of operations, specifically in assessing when the collectability of revenue related consideration is probable, and the impairment assessment of goodwill, indefinite lived assets or long-lived assets that are depreciated or amortized.
Revenue Recognition Policy	Revenue Recognition Policy The Company accounts for a contract with a customer when an approved contract exists, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and the collectability of substantially all of the consideration is probable. Revenue is recognized when the Company satisfies its obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company uses the expected value method to estimate the value of variable consideration on advertising and with original equipment manufacturer contracts to include in the transaction price and reflect changes to such estimates in periods in which they occur. Variable consideration for these services is allocated to and recognized over the related time period such advertising and membership services are rendered as the amounts reflect the consideration the Company is entitled to and relate specifically to the Company’s efforts to satisfy its performance obligation. The amount of variable consideration included in revenue is limited to the extent that it is probable that the amount will not be subject to significant reversal when the uncertainty associated with the variable consideration is subsequently resolved. Practical Expedients The Company elected the practical expedient and recognized the incremental costs of obtaining a contract, if any, as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Gross Versus Net Revenue Recognition The Company reports revenue on a gross or net basis based on management’s assessment of whether the Company acts as a principal or agent in the transaction and is evaluated on a transaction by transaction basis. To the extent the Company acts as the principal, revenue is reported on a gross basis net of any sales tax from customers, when applicable. The determination of whether the Company acts as a principal or an agent in a transaction is based on an evaluation of whether the Company controls the good or service prior to transfer to the customer. Where applicable, the Company has determined that it acts as the principal in all of its membership service, sponsorship, and merchandising streams and may act as principal or agent for its ticketing/live events, advertising and licensing revenue streams. The Company’s revenue is principally derived from the following services: Membership Services Membership services revenue substantially consist of monthly to annual recurring membership fees, which are primarily paid in advance by credit card or through direct billings arrangements. The Company defers the portions of monthly to annual recurring membership fees collected in advance and recognizes them in the period earned. Membership revenue is recognized in the period of services rendered. The Company’s membership revenue consists of performance obligations that are satisfied over time. This has been determined based on the fact that the nature of services offered are membership based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services or not. As a result, the Company has concluded that the best measure of progress toward the complete satisfaction of the performance obligation over time is a time-based measure. The Company recognizes membership revenue straight-line through the membership period. Membership Services consist of:
Direct member, mobile service provider and mobile app services	Direct member, mobile service provider and mobile app services The Company generates revenue for membership services on both a direct basis and through memberships sold through certain third-party mobile service providers and mobile app services (collectively the “Mobile Providers”). For memberships sold through the Mobile Providers, the member executes an on-line agreement with Slacker outlining the terms and conditions between Slacker and the member upon purchase of the membership. The Mobile Providers promote the Slacker app through their e-store, process payments for memberships, and retain a percentage of revenue as a fee. The Company reports this revenue gross of the fee retained by the Mobile Providers, as the member is Slacker’s customer in the contract and Slacker controls the service prior to the transfer to the member. Membership revenues from monthly memberships sold directly through Mobile Providers are subject to such Mobile Providers’ refund or cancellation terms. Revenues from Mobile Providers are recognized net of any such adjustments for variable consideration, including refunds and other fees. The Company’s payment terms vary based on whether the membership is sold on a direct basis or through Mobile Providers. Memberships sold on a direct basis require payment before the services are delivered to the customer. The payment terms for memberships sold through Mobile Providers vary, but are generally payable within 30 days.
Third-Party Original Equipment Manufacturers	Third-Party Original Equipment Manufacturers The Company generates revenue for membership services through memberships sold through a third-party Original Equipment Manufacturer (the “OEM”). For memberships sold through the OEM, the OEM executes an agreement with Slacker outlining the terms and conditions between Slacker and the OEM upon purchase of the membership. The OEM installs the Slacker app in their equipment and provides the Slacker service to the OEM’s customers. The monthly fee charged to the OEM is based upon a fixed rate per vehicle, multiplied by the variable number of total vehicles which have signed up for a paid membership. The number of customers, or the variable consideration, is reported by OEMs and resolved on a monthly basis. The Company’s payment terms with OEM are up to 30 days. Advertising Revenue Advertising revenue primarily consist of revenues generated from the sale of audio, video, and display advertising space to third-party advertising exchanges. Revenues are recognized based on delivery of impressions over the contract period to the third-party exchanges, either when an ad is placed for listening or viewing by a visitor or when the visitor “clicks through” on the advertisement. The advertising exchange companies report the variable advertising revenue performed on a monthly basis which represents the Company’s efforts to satisfy the performance obligation. Additionally, following the acquisition of PodcastOne, the Company began deriving revenue from podcast advertising. PodcastOne earns advertising revenues primarily for fees earned from advertisement placement purchased by the customer during the time the podcast is delivered to the viewing audience, under the terms and conditions as set forth in the applicable podcasting agreement calculated using impressions. From time to time we enter into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized based on delivery of impressions and in the same manner as described above. Services received are charged to expense when received or utilized. If services are received prior to the delivery of impressions, a liability is recorded. If delivery of impressions have occurred before the receipt of goods or services, a receivable is recorded. Total revenues related to barter transactions were $4.3 million and $3.5 million for the years ended March 31, 2022 and March 31, 2021, respectively. Licensing Revenue Licensing revenue primarily consists of sales of licensing rights to digitally stream its live music services. Licensing revenue is recognized when the Company satisfies its performance obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services, which is typically when the live event has aired. Any license fees collected in advance of an event are deferred until the event airs. Sponsorship Revenue Sponsorship revenue primarily consists of sales of sponsorship programs that provide sponsors with opportunities to reach our customers. Sponsorship revenue is recognized as the event airs. Any sponsorship fees collected in advance of the contract term (typically an event) are deferred until the event airs. The Company reports sponsorship revenue on a gross basis as the Company acts as the principal in the underlying transactions. Merchandising Revenue Revenue is recognized upon the transfer of control to the customer. The Company recognizes revenue and measures the transaction price net of taxes collected from customers and remitted to governmental authorities. Sales also include shipping and handling charges billed to customers, with the related freight costs included in cost of goods sold. Sales commissions are expensed as incurred and are recorded in sales and marketing expenses in the consolidated statements of operations. The Company's customer contracts do not have a significant financing component due to their short durations, which are typically effective for one year or less and have payment terms that are generally 30 to 60 days. Wholesale revenue is generally recognized when products are shipped, depending on the applicable contract terms. The Company records a refund liability for expected returns based on prior returns history, recent trends, and projections for returns on sales in the current period. The refund liability at March 31, 2022 and 2021 was less than $0.1 million, respectively. Ticket/Event Revenue Ticket/Event revenue is primarily from the sale of tickets and promoter fees earned from venues or other co-promoters under one of several formulas, including a fixed guaranteed amount and/or a percentage of ticket sales or event profits. Revenue from the promotion or production of an event is recognized at a point in time when the show occurs. Revenue collected in advance of the event is recorded as deferred revenue until the event occurs. Revenue collected from sponsorship agreements, which is not related to a single event, is classified as deferred revenue and recognized over the term of the agreement or operating season as the benefits are provided to the sponsor. Revenue from our ticketing operations primarily consists of service fees charged at the time a ticket for an event is sold in either the primary or secondary markets, including both online pay-per-view (“PPV”) tickets as well as ticket physically purchased through a ticket sale vendor. For primary tickets sold to the Company’s PPV and festival events the revenue for the associated ticket service charges collected in advance of the event is recorded as deferred revenue until the event occurs. For PPV arrangements that include multiple performance obligations, i.e. delivery of the online stream, sponsorships, digital meet and greet, or physical merchandise, we allocate the total contract consideration to each performance obligation using the standalone selling price. If the standalone selling price is not readily determinable, it is estimated using observable inputs including an adjusted market based approach, expected cost plus margin, or the residual approach.
Cost of Sales	Cost of Sales Cost of Sales principally consist of royalties paid for the right to stream video, music and non-music content to the Company’s customers and the cost of securing the rights to produce and stream live events from venues and promoters. Royalties are calculated using negotiated and regulatory rates documented in content license agreements and are based on usage measures or revenue earned. Music royalties to record labels, professional rights organizations and music publishers relate to the consumption of music listened to on Slacker’s radio services. As of March 31, 2022, and 2021, the Company accrued $13.5 million and $12.3 million of royalties, respectively, due to artists from use of Slacker’s radio services. Cost of sales for the Company’s advertising revenue primarily includes PodcastOne direct costs comprised of revenue sharing and commissions. Cost of sales for the Company’s merchandising revenue includes purchase costs and related direct costs. Direct costs include all costs for personalization, production, planning, quality control, fulfillment and inbound freight.
Sales and Marketing	Sales and Marketing Sales and Marketing include the direct and indirect costs related to the Company’s product and event advertising and marketing. Additionally, sales and marketing include merchandising advertising and royalty costs. Advertising expenses to promote the Company’s services are expensed as incurred. Advertising expenses included in sales and marketing expense were $0.3 million and $0.3 million for the years ended March 31, 2022 and 2021, respectively.
Product Development	Product Development Product development costs primarily are expenses for research and development, product and content development activities, including internal software development and improvement costs which have not been capitalized by the Company.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which is the vesting period, on an accelerated basis. The Company accounts for awards with graded vesting as if each vesting tranche is valued as a separate award. The Company uses the Black-Scholes-Merton option pricing model to determine the grant date fair value of stock options. This model requires the Company to estimate the expected volatility and the expected term of the stock options which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected employee stock option exercise behavior. The Company uses a predicted volatility of its stock price during the expected life of the options that is based on the historical performance of the Company’s stock price as well as including an estimate using guideline companies. The expected term is computed using the simplified method as the Company’s best estimate given its lack of actual exercise history. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the stock. Compensation expense resulting from granted restricted stock units and restricted stock awards is measured at fair value on the date of grant and is recognized as share-based compensation expense over the applicable vesting period. Stock-based awards are comprised principally of stock options, restricted stock, restricted stock units (“RSUs”), and restricted stock awards (“RSAs”). Forfeitures are recognized as incurred. Stock option awards issued to non-employees are accounted for at grant date fair value determined using the Black-Scholes-Merton option pricing model. Management believes that the fair value of the stock options is more reliably measured than the fair value of the services received. The Company records the fair value of these equity-based awards and expense at their cost ratably over related vesting periods.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Company’s consolidated statements of operations in the period that includes the enactment date.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted-average number of common shares and the dilutive effect of contingent shares outstanding during the period. Potentially dilutive contingent shares, which primarily consist of stock options issued to employees, directors and consultants, restricted stock units, warrants issued to third parties and accounted for as equity instruments and convertible notes would be excluded from the diluted earnings per share calculation because their effect is anti-dilutive. At March 31, 2022 and 2021, the Company had 3,565,191 and 3,921,584 options outstanding, respectively, 3,064,375 and 4,512,916 restricted stock units outstanding, respectively, and 5,403,693 and 5,723,685 shares of common stock issuable underlying the Company’s convertible notes and convertible debentures, respectively.
Business Combinations	Business Combinations The Company accounts for its business combinations using the acquisition method of accounting where the purchase consideration is allocated to the underlying net tangible and intangible assets acquired, based on their respective fair values. The excess of the purchase consideration over the estimated fair values of the net assets acquired is recorded as goodwill. Identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree are recognized and measured as of the acquisition date at fair value. Additionally, any contingent consideration is recorded at fair value on the acquisition date and classified as a liability. Goodwill is recognized to the extent by which the aggregate of the acquisition-date fair value of the consideration transferred and any noncontrolling interest in the acquiree exceeds the recognized basis of the identifiable assets acquired, net of assumed liabilities. Determining the fair value of assets acquired, liabilities assumed and noncontrolling interests requires management’s judgment and often involves the use of significant estimates and assumptions, including, but not limited to, the selection of appropriate valuation methodology, projected revenue, expenses and cash flows, weighted average cost of capital, discount rates, estimates of customer turnover rates, estimates of terminal values, and royalty rates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three months or less. The following table provides amounts included in cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows for the fiscal years ended March 31 (in thousands): 2022 2021 Cash and cash equivalents $ 12,894 $ 18,635 Restricted cash 260 135 Total cash and cash equivalents and restricted cash $ 13,154 $ 18,770
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents The Company maintains certain letters of credit agreements with its banking provider, which are secured by the Company’s cash for periods of less than one year. As of March 31, 2022 and 2021, the Company had restricted cash of $0.3 million and $0.1 million, respectively.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company evaluates the collectability of its accounts receivable based on a combination of factors. Generally, it records specific reserves to reduce the amounts recorded to what it believes will be collected when a customer’s account ages beyond typical collection patterns, or the Company becomes aware of a customer’s inability to meet its financial obligations. The Company believes that the credit risk with respect to trade receivables is limited due to the large and established nature of its largest customers and the short-term nature of its membership receivables. At March 31, 2022, the Company had one customer that made up 24% of the total accounts receivable balance. At March 31, 2021, the Company had two customers that made up 21% and 15% of the total accounts receivable balance. The following table provides amounts included in accounts receivable, net for the fiscal years ended March 31 (in thousands): 2022 2021 Accounts receivable $ 14,404 $ 10,679 Less: Allowance for doubtful accounts 717 112 Accounts receivable, net $ 13,687 $ 10,567
Inventories	Inventories Inventories, principally raw materials awaiting final customization process, are stated at the lower of cost or net realizable value. Inventories are relieved on a first-in, first-out basis. The carrying value of inventories is reduced for any excess and obsolete inventory. Excess and obsolete reductions are determined based on currently available information, including the likely method of disposition, such as through sales to individual customers and liquidations, and the age of inventory.
Paycheck Protection Program Loans	Paycheck Protection Program Loans In response to the COVID-19 pandemic, the PPP was established under the CARES Act and administered by the U.S. Small Business Administration (“SBA”). Companies who met the eligibility requirements set forth by the PPP could qualify for PPP loans provided by local lenders, which supports payroll, rent and utility expenses (“qualified expenses”). If the loan proceeds are fully utilized to pay qualified expenses over the covered period, as further defined by the PPP, the full principal amount of the PPP loan may qualify for loan forgiveness, subject to potential reduction based on the level of full-time employees maintained by the organization during the covered period as compared to a baseline period. During the year ended March 31, 2022, the Company received confirmation from the SBA that $3.1 million in PPP loans (see Note 8 – Notes Payable) were forgiven. As the loans were forgiven and we were released from being the primary obligor, the Company recognized income in the amount forgiven in accordance with ASC 470-20. The Company recognized a gain on forgiveness of the PPP loans during the fiscal year ended March 31, 2022 and is included in total other expense, net in the accompanying consolidated statement of operations for the year ended March 31, 2022.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Costs of improvements that extend the economic life or improve service potential are also capitalized. Capitalized costs are depreciated over their estimated useful lives. Costs for normal repairs and maintenance are expensed as incurred. Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: buildings and improvements (5 years), furniture and equipment (3 to 5 years) and computer equipment and software (3 to 5 years). Leasehold improvements are depreciated over the shorter of the estimated useful life, based on the estimates above, or the lease term. The Company evaluates the carrying value of its property and equipment if there are indicators of potential impairment. If there are indicators of potential impairment, the Company performs an analysis to determine the recoverability of the asset group carrying value by comparing the expected undiscounted future cash flows to the net book value of the asset group. If it is determined that the expected undiscounted future cash flows are less than the net book value of the asset group, the excess of the net book value over the estimated fair value is recorded in the Company’s consolidated statements of operations. Fair value is generally estimated using valuation techniques that consider the discounted cash flows of the asset group using discount and capitalization rates deemed reasonable for the type of assets, as well as prevailing market conditions, appraisals, recent similar transactions in the market and, if appropriate and available, current estimated net sales proceeds from pending offers.
Capitalized Internal-Use Software	Capitalized Internal-Use Software The Company capitalizes certain costs incurred to develop software for internal use. Costs incurred in the preliminary stages of development are expensed as incurred. Once software has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as part of property and equipment. Costs related to minor enhancements, maintenance and training are expensed as incurred. Capitalized internal-use software costs are amortized on a straight-line basis over their three- to five-year estimated useful lives. The Company evaluates the useful lives of these assets and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. During the years ended March 31, 2022 and 2021, the Company capitalized $3.4 million and $3.4 million of internal use software, respectively.
Goodwill and Indefinite-Lived Assets	Goodwill and Indefinite-Lived Assets Goodwill represents the excess of the purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired in a business combination and is carried at cost. Acquired trademarks and trade names are assessed as indefinite lived assets if there are no foreseeable limits on the periods of time over which they are expected to contribute cash flows. Goodwill and indefinite-lived assets are not amortized, but are subject to an annual impairment testing, as well as between annual tests when events or circumstances indicate that the carrying value may not be recoverable. We perform our annual impairment testing at January 1 of each year. Our annual goodwill impairment test is performed at the reporting unit level. As of March 31, 2022 and 2021, our single reporting unit is the same as our operating segment, as described in Note 19. We generally test goodwill for possible impairment by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If a qualitative assessment is not used, or if the qualitative assessment is not conclusive, a quantitative impairment test is performed. If a quantitative test is performed, we determine the fair value of the related reporting unit and compare this value to the recorded net assets of the reporting unit, including goodwill. The fair value of our reporting unit is determined using a market approach based on quoted prices in active markets. In the event the recorded net assets of the reporting unit exceed the estimated fair value of such assets, an impairment charge is recorded. Based on our annual impairment assessment, no impairments of goodwill were identified in the fiscal years ended March 31, 2022 and 2021. Estimations and assumptions regarding, future performance, results of the Company’s operations and comparability of its market capitalization and net book value will be used. We test our acquired trademarks and trade names for possible impairment by applying the same process as for goodwill. In the instance when a qualitative test is not performed or is inconclusive, a quantitative test is performed by using a discounted cash flow model to estimate fair value of our acquired trademarks and trade names. Based on our annual impairment assessment, no impairments of acquired trademarks and trade names were identified in the fiscal years ended March 31, 2022 and 2021.
Intangible Assets with Finite Useful Lives	Intangible Assets with Finite Useful Lives The Company has certain finite-lived intangible assets that were initially recorded at their fair value at the time of acquisition. These intangible assets consist of Intellectual Property, Customer Relationships, Content Creator Relationships, Wholesale Relationships, Domain Names, Customer List, Capitalized Software Development Costs, and Non-compete Agreements resulting from business combinations. Intangible assets with finite useful lives are amortized using the straight-line method over their respective estimated useful lives, which are generally as follows: Intellectual Property (15 years), Customer, Content Creator and Wholesale Relationships (1-6 years), Domain Names, Customer Lists, and Software (5 years), Patents (15 years), and Non-Compete Agreements (3 years). The Company reviews all finite lived intangible assets for impairment when circumstances indicate that their carrying values may not be recoverable. If the carrying value of an asset group is not recoverable, the Company recognizes an impairment loss for the excess carrying value over the fair value in its consolidated statements of operations. In our assessment for potential impairment we identified triggering events due to the events resulting from the global COVID-19 pandemic which caused the temporary halting of car production of our OEM partner as well as overall advertising spend decrease from our advertising partners. No impairment losses have been recorded in the fiscal years ended March 31, 2022 and 2021. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown, which may impair the Company’s asset values, including intangible assets.
Deferred Revenue and Costs	Deferred Revenue and Costs Deferred revenue consists substantially of amounts received from customers in advance of the Company’s performance service period. Deferred revenue is recognized as revenue on a systematic basis that is proportionate to the period that the underlying services are rendered, which in certain arrangements is straight line over the remaining contractual term or estimated customer life of an agreement. In the event the Company receives cash in advance of providing its music services, the Company will also defer an amount of such future royalty and costs to 3rd party music labels, publishers and other providers on its balance sheets. Deferred costs are amortized to expense concurrent with the recognition of the related revenue and the expense is included in cost of sales.
Fair Value Measurements - Valuation Hierarchy	Fair Value Measurements - Valuation Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date (i.e., an exit price). The Company uses the three-level valuation hierarchy for classification of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect the Company’s own assumptions about the data market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized below: Level 1 Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument. Level 3 Valuation is based upon other unobservable inputs that are significant to the fair value measurement. The classification of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety. Proper classification of fair value measurements within the valuation hierarchy is considered each reporting period. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The derivative liabilities are recognized at fair value on a recurring basis at March 31, 2022 and 2021, respectively, and are Level 3 measurements. There have been no transfers between levels.
Concentration of Credit Risk	Concentration of Credit Risk The Company maintains cash balances at commercial banks. Cash balances commonly exceed the $250,000 amount insured by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to any significant credit risk with respect to such cash and cash equivalents.
Seasonality	Seasonality Our CPS merchandising business is affected by seasonality, which typically results in higher sales volume during our third quarter, which ends December 31.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40). In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832) Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the U.S. Securities and Exchange Commission (the “SEC”) did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statement presentation or disclosures.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of cash, cash equivalents and restricted cash	2022 2021 Cash and cash equivalents $ 12,894 $ 18,635 Restricted cash 260 135 Total cash and cash equivalents and restricted cash $ 13,154 $ 18,770
Schedule of accounts receivable	2022 2021 Accounts receivable $ 14,404 $ 10,679 Less: Allowance for doubtful accounts 717 112 Accounts receivable, net $ 13,687 $ 10,567

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	Year Ended March 31, 2022 2021 Revenue Membership services $ 41,264 $ 33,577 Advertising 33,739 20,779 Merchandising 15,447 5,168 Sponsorship and Licensing 7,051 3,878 Ticket/Event 19,518 1,828 Total Revenue $ 117,019 $ 65,230
Schedule of contract liabilities balances	Contract Liabilities Balance as of April 1, 2020 $ 949 Revenue recognized that was included in the contract liability at beginning of period (949 ) Increase due to cash received, excluding amounts recognized as revenue during the period 1,262 Balance as of March 31, 2021 1,262 Revenue recognized that was included in the contract liability at beginning of period (1,262 ) Increase due to cash received, excluding amounts recognized as revenue during the period 1,157 Balance as of March 31, 2022 $ 1,157

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Schedule of consideration of common stock	Fair Value of Consideration Transferred: Cash $ 150 Common stock 89 Contingent consideration 174 Total $ 413 Fair Value of Consideration Transferred: Common stock $ 14,991 Contingent consideration 1,100 Total $ 16,091 Fair Value of Consideration Transferred: Common stock $ 6,391 Additional paid-in capital – common stock to be issued 615 Contingent consideration 1,654 Total $ 8,660
Schedule of fair value of assets assumed in gramophone acquisition	Asset Type Amortization Fair Value Cash and cash equivalents $ 4 Accounts receivable 4 Trade name 5 73 Customer list 2 94 Goodwill 459 Deferred revenue (51 ) Deferred tax liability (41 ) Accrued liabilities (129 ) Net assets acquired $ 413 Asset Type Weighted Fair Value Cash and cash equivalents $ 1,286 Accounts receivable 3,951 Prepaid expense and other assets 316 Property and equipment 119 Content creator relationships 1.6 772 Trade name 10 1,010 Goodwill 12,042 Accounts payable and accrued liabilities (2,934 ) Deferred tax asset 972 Allowance for deferred tax asset (972 ) Note payable (471 ) Net assets acquired $ 16,091 Asset Type Weighted Fair Value Cash and cash equivalents $ 1,132 Accounts receivable 6,153 Inventories 2,600 Prepaid expense 29 Property and equipment 585 Wholesale relationship 6 2,500 Domain name 10 400 Customer list 5 172 Goodwill 1,207 Other assets 53 Right of use asset 1,086 Lease liability (1,086 ) Accounts payable (5,067 ) Deferred tax liability (388 ) Other liabilities (716 ) Net assets acquired $ 8,660
Schedule of revenues, net loss and earnings per share	Year Ended 2021 Revenues $ 83,050 Net loss (41,801 ) Net loss per share – basic and diluted $ (0.61 ) Year Ended 2021 Revenues $ 69,953 Net loss (42,656 ) Net loss per share – basic and diluted $ (0.62 ) Year Ended March 31, 2022 2021 Revenues $ 117,623 $ 66,098 Net loss (43,592 ) (41,985 ) Net loss per share – basic and diluted $ (0.55 ) $ (0.61 )

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	As of March 31, 2022 2021 Property and equipment, net Computer, machinery, and software equipment $ 5,508 $ 5,277 Furniture and fixtures 141 141 Leasehold improvements 531 531 Capitalized internally developed software 13,860 10,154 Total property and equipment 20,040 16,103 Less accumulated depreciation and amortization (15,352 ) (11,736 ) Total property and equipment, net $ 4,688 $ 4,367

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in carrying amount of goodwill	Goodwill Balance as of April 1, 2020 $ 9,672 Acquisitions 12,947 Balance as of March 31, 2021 $ 22,619 Acquisition 459 Purchase price adjustment (See Note 4 – Business Combinations) 301 Balance as of March 31, 2022 $ 23,379
Schedule of changes in carrying amount of indefinite-lived intangible assets	Tradenames Balance as of April 1, 2020 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2021 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2022 $ 4,637
Schedule of finite-lived intangible assets	Gross Accumulated Net Software $ 19,281 $ 16,389 $ 2,892 Intellectual property (patents) 5,366 1,520 3,846 Customer relationships 6,570 6,177 393 Content creator relationships 772 772 - Domain names 514 83 431 Brand and trade names 2,643 454 2,189 Non-compete agreement 250 181 69 Customer list 2,998 735 2,263 Total $ 38,394 $ 26,311 $ 12,083 Gross Accumulated Net Software $ 19,281 $ 12,533 $ 6,748 Intellectual property (patents) 5,366 1,163 4,203 Customer relationships 6,570 5,652 918 Content creator relationships 772 371 401 Domain names 429 31 398 Brand and trade names 2,571 253 2,318 Non-compete agreement 250 97 153 Customer list 2,903 211 2,692 Total $ 38,142 $ 20,311 $ 17,831
Schedule of estimated future amortization expense	For Years Ended March 31, 2023 $ 4,543 2024 1,074 2025 1,074 2026 1,074 2027 1,074 Thereafter 3,244 $ 12,083

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	March 31, March 31, 2022 2021 Accounts payable $ 29,640 $ 18,541 Accrued liabilities 15,505 13,786 Lease liabilities, current 273 319 Total $ 45,418 $ 32,646

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Mar. 31, 2022
Note Payable [Abstract]
Schedule of notes payable	March 31, March 31, 2022 2021 Senior promissory note $ - $ 351 SBA loan 160 153 PPP loans - 3,110 160 3,614 Less: Current portion of Notes payable (12 ) (2,729 ) Notes payable $ 148 $ 885

Unsecured Convertible Notes (Ta

Unsecured Convertible Notes (Tables)	12 Months Ended
	Mar. 31, 2022
Unsecured Convertible Notes [Abstract]
Schedule of unsecured convertible notes payable	March 31, March 31, 2022 2021 Unsecured Convertible Notes - Related Party (A) 8.5% Unsecured Convertible Note - Due May 31, 2023 $ 4,702 $ 4,397 (B) 8.5% Unsecured Convertible Notes - Due May 31, 2023 1,177 1,104 Net 5,879 5,501 Unsecured Convertible Promissory Note $ - $ 2,000 Accrued interest - 186 Less: Discount - (223 ) Fair Value of Embedded Derivatives - 13 Net - 1,976 Unsecured Convertible Promissory Notes, Net $ 5,879 $ 7,477 Unsecured Convertible Promissory Notes, Net, Current - 1,976 Unsecured Convertible Promissory Notes, Net, Long-Term $ 5,879 $ 5,501

Senior Secured Convertible No_2

Senior Secured Convertible Notes (Tables)	12 Months Ended
	Mar. 31, 2022
Senior Secured Convertible Notes [Abstract]
Schedule of senior secured convertible notes	March 31, March 31, 2022 2021 Senior Secured Convertible Notes $ 15,000 $ 15,000 Fair value of embedded derivatives 18 118 Less: Discount (1,368 ) (2,071 ) Senior Secured Convertible Notes, long-term $ 13,650 $ 13,047

Senior Secured Revolving Line_2

Senior Secured Revolving Line of Credit (Tables)	12 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Schedule of maturity senior secured revolving line of credit	For the years ended March 31, 2023 $ 12 2024 27,897 Thereafter 148 Total debt outstanding 28,057 Less: Debt discount on senior secured convertible notes and line of credit (1,403 ) Total notes payable, convertible notes, related and non-related party, net and senior secured line of credit $ 26,654

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of operating lease costs	Year Ended March 31, 2022 2021 Fixed rent cost $ 752 507 Short term lease cost 210 281 Total operating lease cost $ 962 788
Schedule of supplemental balance sheet information related to leases	Operating leases March 31, March 31, Operating lease right-of-use assets $ 728 1,057 Operating lease liability, current $ 273 319 Operating lease liability, noncurrent 468 742 Total operating lease liabilities $ 741 1,061
Schedule of maturities of operating lease liabilities	For Years Ending March 31, 2023 $ 358 2024 320 2025 93 Total lease payments 771 Less: imputed interest (30 ) Present value of operating lease liabilities $ 741

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	12 Months Ended
	Mar. 31, 2022
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Schedule of other long term liabilities	March 31, March 31, 2022 2021 Due to Music Partner $ - $ 3,937 Other long-term liabilities 174 2,422

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Schedule of stock option activity	Year Ended March 31, 2022 2021 Number of options granted 205,000 350,000 Weighted-average exercise price per share $ 1.19 $ 4.11 Weighted-average grant date fair value per share $ 1.74 $ 1.85 Year Ended March 31, 2022 2021 Number of units granted 2,555,767 1,914,136 Weighted-average grant date fair value per share $ 3.77 $ 3.15
Schedule of Black-Sholes-Merton option-pricing model	Year Ended March 31, 2022 2021 Expected volatility 77.36% - 84.98 % 53.97% - 73.61 % Dividend yield - % - % Risk-free rate 0.75% - 2.17 % 0.22% - 0.46 % Expected term (in years) 5.09 – 6.87 5.25 - 7.00
Schedule of warrant	Number of Shares Weighted- Outstanding as of April 1, 2020 4,403,334 $ 3.74 Granted 350,000 4.11 Exercised (654,250 ) 3.90 Forfeited or expired (177,500 ) 4.00 Outstanding as of March 31, 2021 3,921,584 3.74 Granted 205,000 1.74 Exercised (400,460 ) 2.18 Forfeited or expired (160,933 ) 4.10 Outstanding as of March 31, 2022 3,565,191 3.78 Exercisable as of March 31, 2022 3,207,358 3.97 Number of Shares Weighted- Outstanding as of April 1, 2020 25,000 $ 4.00 Granted - - Exercised - - Forfeited or expired 4.00 Outstanding as of March 31, 2021 25,000 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2022 25,000 4.00 Exercisable as of March 31, 2022 25,000 4.00
Schedule of activity restricted stock units issued to employees	Number of Shares Outstanding as of April 1, 2020 4,530,705 Granted 1,914,136 Vested (1,641,082 ) Cancelled (290,843 ) Outstanding as of March 31, 2021 4,512,916 Granted 2,555,767 Vested (2,518,791 ) Cancelled (1,485,517 ) Outstanding as of March 31, 2022 3,064,375 Number of Shares Outstanding as of April 1, 2020 24,675 Cancelled (24,675 ) Outstanding as of March 31, 2021 - Cancelled - Outstanding as of March 31, 2022 -
Schedule of warrant	Number of Warrants Weighted Average Exercise Weighted- Balance outstanding, April 1, 2020 167,363 $ 4.01 0.94 Granted - - - Exercised - - - Forfeited/expired (167,363 ) 4.01 0.94 Balance outstanding, March 31, 2021 - - - Granted - - - Balance outstanding, March 31, 2022 - - - Exercisable, March 31, 2022 - - -

Income Tax Provision (Tables)

Income Tax Provision (Tables)	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of pretax loss and income tax (benefit)	Year Ended March 31, 2022 2021 Loss before income taxes: Domestic $ (43,729 ) $ (42,165 ) Foreign - - Total loss before income taxes $ (43,729 ) $ (42,165 ) The provision for income taxes consisted of the following: Current U.S. Federal $ - $ - State 22 14 Foreign - - Total Current 22 14 Deferred: U.S. Federal 86 (330 ) State 75 (29 ) Foreign - - Total Deferred 161 (359 ) Total provision for income taxes $ 183 $ (345 )
Schedule of statutory income tax rates and the income tax provision	Year Ended March 31, 2022 2021 Income taxes computed at Federal statutory rate $ (9,183 ) $ (8,855 ) State tax — net of federal benefit (1,343 ) (888 ) State minimum taxes - 14 Change in tax rates (51 ) (375 ) Change in valuation allowance 10,175 7,165 Permanent differences 585 2,594 Total provision for income taxes $ 183 $ (345 )
Schedule of deferred income tax assets and (liabilities)	Year Ended March 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 36,368 $ 25,994 Property and equipment 258 307 Accruals and reserves 1,718 2,060 Stock compensation 3,868 4,653 163 (j) interest expense carryforwards 1,125 832 Charitable contribution carryforward 69 63 Capital loss carryforward - 522 Gross deferred tax assets 43,406 34,431 Deferred tax liabilities: Right of use asset (185 ) - Intangible assets (3,767 ) (4,951 ) Net deferred tax assets 39,454 29,480 Valuation allowance (39,792 ) (29,617 ) Net deferred tax liability $ (338 ) $ (137 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of fair value of financial liabilities are measured at fair value on a recurring basis	March 31, 2022 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Contingent consideration liability from PodcastOne acquisition $ 2,965 $ - $ - $ 2,965 Contingent consideration liability from Gramophone acquisition 174 - - 174 Bifurcated embedded derivative on senior secured convertible note payable 18 - - 18 $ 3,157 $ - $ - $ 3,157 March 31, 2021 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Contingent consideration liability from PodcastOne acquisition $ 2,423 $ - $ - $ 2,423 Contingent consideration liability from CPS acquisition 2,513 - - 2,513 Bifurcated embedded derivative on senior secured convertible notes payable 118 - - 118 Bifurcated embedded derivative on unsecured convertible note payable 13 - - 13 $ 5,067 $ - $ - $ 5,067
Schedule of derivative instruments	Amount Balance as of April 1, 2020 $ 665 Initial measurement of contingent consideration from PodcastOne acquisition on July 1, 2020 1,100 Initial measurement of contingent consideration from CPS acquisition on December 22, 2020 1,654 Initial measurement of embedded derivatives on senior secured convertible notes issued on September 15, 2020 671 Total fair value adjustments reported in earnings 977 Balance as of March 31, 2021 5,067 Change in fair value of bifurcated embedded derivatives, reported in earnings (113 ) Change in fair value of contingent consideration liabilities, reported in earnings (145 ) Common stock settlement of contingent consideration liability from CPS acquisition (1,826 ) Initial measurement of contingent consideration for Gramophone acquisition 174 Balance as of March 31, 2022 $ 3,157
Schedule of derivative on senior secured convertible debentures	March 31, March 31, 2022 2021 Bifurcated embedded derivative on senior secured convertible notes payable Market yield 4.7 % 17.0 % Bifurcated embedded derivative on unsecured convertible note payable Market yield NA % 26.5 %
Schedule of fair value measurement option for financial assets or liabilities	March 31, 2022 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Senior secured convertible notes payable, net 13,650 - - 15,448 Unsecured convertible notes payable related party, net 5,879 - - 6,084 March 31, 2021 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Senior secured convertible notes payable, net 13,047 - - 20,228 Unsecured convertible notes payable related party, net 5,501 - - 9,216 Unsecured convertible note payable 1,976 - - 2,167
Schedule of fair value of each of the debentures	Year Ended March 31, 2022 2021 Senior secured convertible notes payable, net (binomial lattice model): Market yield 6.3 % 17.0 % Unsecured convertible notes payable related party, net (yield model with a Black-Scholes-Merton option pricing model): Market yield 6.6 % 23.0 % Unsecured convertible note payable (yield model with a Black-Scholes-Merton option pricing model): Market yield - % 26.5 %

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Oct. 17, 2021	Dec. 22, 2020	Jul. 01, 2020
Organization and Basis of Presentation (Details) [Line Items]
Cash equivalents and restricted cash	$ 13.2
Net loss	43.9
Cash	9.1
Working capital deficiency	$ 28.8
Description of cash raised from sale of equity	Under the New Shelf S-3, the Company will have the ability to raise up to $150.0 million in cash from the sale of its equity, debt and/or other financial instruments.
Proceeds from sale of equity	$ 150
Business Combination [Member]
Organization and Basis of Presentation (Details) [Line Items]
Outstanding equity interest, percentage		100%		100%
Custom Personalization Solutions, Inc. Member] | Business Combination [Member]
Organization and Basis of Presentation (Details) [Line Items]
Outstanding equity interest, percentage			100%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of note payable	100%
Reduction of payroll tax expense	$ 1,200
Amortization period	1 year
Total revenue transactions amount	$ 4,300	$ 3,500
Financial term	1 year
Refund liability	$ 100	100
Accrued royalties	13,500	12,300
Sales and marketing expense	300	300
Restricted cash	$ 300	$ 100
Total accounts receivable	24%	21%
PPP loans	$ 3,100
Capitalized internal use software	3,400	$ 3,400
Federal deposit insurance corporation	$ 250,000
Options [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Options outstanding (in Shares)	3,565,191	3,921,584
Restricted Stock Units (RSUs) [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Restricted stock outstanding (in Shares)	3,064,375	4,512,916
Convertible Notes [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Common stock issuable (in Shares)	5,403,693	5,723,685
Intellectual Property [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	15 years
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Total accounts receivable		15%
Buildings and Improvements [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives	5 years
Furniture and Equipment [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives	3 years
Furniture and Equipment [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives	5 years
Computer Equipment [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives	3 years
Computer Equipment [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives	5 years
Customer Content Creator and Wholesale Relationships [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	1 year
Customer Content Creator and Wholesale Relationships [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	6 years
Domain Names Customer Lists And Software [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	5 years
Patents [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	15 years
Non-Compete Agreements [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets finite useful lives	3 years

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of cash, cash equivalents and restricted cash - Cash and Cash Equivalents [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 12,894	$ 18,635
Restricted cash	260	135
Total cash and cash equivalents and restricted cash	$ 13,154	$ 18,770

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of accounts receivable - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Schedule of accounts receivable [Abstract]
Accounts receivable, gross	$ 14,404	$ 10,679
Less: Allowance for doubtful accounts	717	112
Accounts receivable, net	$ 13,687	$ 10,567

Revenue (Details)

Revenue (Details)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Consolidated revenues	28%	36%

Revenue (Details) - Schedule of

Revenue (Details) - Schedule of disaggregation of revenue - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue
Membership services	$ 41,264	$ 33,577
Advertising	33,739	20,779
Merchandising	15,447	5,168
Sponsorship and Licensing	7,051	3,878
Ticket/Event	19,518	1,828
Total Revenue	$ 117,019	$ 65,230

Revenue (Details) - Schedule _2

Revenue (Details) - Schedule of contract liabilities balances - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of contract liabilities balances [Abstract]
Balance	$ 1,262	$ 949
Revenue recognized that was included in the contract liability at beginning of period	(1,262)	(949)
Increase due to cash received, excluding amounts recognized as revenue during the period	1,157	1,262
Balance	$ 1,157	$ 1,262

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended			6 Months Ended	12 Months Ended
	Jul. 07, 2021	Jul. 01, 2020	Oct. 17, 2021	Dec. 22, 2020	Jul. 31, 2020	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Combinations (Details) [Line Items]
Additional shares of common stock (in Shares)			79,365		203,249
Common stock fair value			$ 100		$ 14,600
Lack of marketability, percentage			25%	25%	24%
Fair-valued			$ 200		$ 1,100
Business combination, cash consideration			$ 200
Revenue							$ 400
Net loss							100
Transaction costs							$ 100	$ 100
Podcastone for net consideration					$ 16,100
Common stock, shares (in Shares)					5,363,636
Additional value of common stock					$ 400			$ 14,991
Discount for lack marketability					24%
Market price of common stock, description							If, during the period commencing after May 7, 2020 and ending on July 1, 2022, for five consecutive trading days the closing market price of the Company’s common stock exceeds $5.00 per share, an additional aggregate payment of $3.0 million in cash shall be paid to the sellers of PodcastOne in accordance with their respective pro rata percentage within five business days of the second anniversary of the closing date (July 1, 2022).
Contingent fair value		$ 1,100
Credit yield, percentage		21.90%
Common stock exceeds (in Dollars per share)								$ 5
Charge to other income (expense)								$ 1,300
Other long-term liabilities							$ 2,900	2,400
Accounts receivable							4,000
Total amount of purchase price							600
Adjustment of purchase price							301
Restricted common stock (in Shares)	214,475
Tax benefit								400
Amortization of intangible assets							$ 100	1,700
Business Combination [Member]
Business Combinations (Details) [Line Items]
Equity interests, percentage			100%	100%	100%
Gramophone for net consideration			$ 400
Contingent consideration description							Contingent consideration in the form of a cash earnout of $0.3 million will be paid to the seller of Gramophone if, during the period commencing June 1, 2021 and ending on May 31, 2022 (“First Year Target”), Gramophone reports GAAP revenues of $1.4 million and EBITDA (as defined in the purchase agreement) of $0.3 million. If the First Year Target is not met, the cash earnout will be paid to the seller of Gramophone if, during the period commencing June 1, 2022 and ending on May 31, 2023 (“Second Year Target”), Gramophone reports GAAP revenues of $2 million and EBITDA of $0.5 million.
Contingent consideration related to cash earnout							$ 200
Contingent consideration liability							200
Gramophone Acquisition [Member]
Business Combinations (Details) [Line Items]
Gramophone for net consideration							89
Transaction costs							100
PodcastOne, Inc. [Member]
Business Combinations (Details) [Line Items]
Revenue								15,700
Net loss								3,100
Transaction costs								100
Gross amount							4,200
Uncollectible amount							$ 200
CPS [Member]
Business Combinations (Details) [Line Items]
Additional shares of common stock (in Shares)							214,000
Lack of marketability, percentage							25%
Additional value of common stock							$ 600
Charge to other income (expense)						$ 200
Restricted common stock (in Shares)				2,230,769
Restricted value				$ 6,400
Description of business combination				The Company agreed to also issue up to approximately 577,000 additional shares of its restricted common stock, classified as contingent consideration, as CPS reported GAAP revenue of at least $20.0 million and $1.0 million of EBITDA (as defined in the purchase agreement) for its fiscal year ended December 31, 2020. Based on their likelihood of achievement this number of shares reflected management’s current estimate and were valued at $1.7 million based on the Company’s stock price on the date of acquisition, net of a 25% discount for lack of marketability.
Restricted common stock (in Shares)	576,923
Working capital							4,000
CPS acquisition [Member]
Business Combinations (Details) [Line Items]
Revenue								5,200
Net loss								$ 300
Accounts receivable							6,200
Gross amount							6,500
Uncollectible amount							300
Adjustment of purchase price							$ 300

Business Combinations (Detail_2

Business Combinations (Details) - Schedule of consideration of common stock $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Gramophone [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash	$ 150
Common stock	89
Contingent consideration	174
Total	413
PodcastOne [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Common stock	14,991
Contingent consideration	1,100
Total	16,091
CPS [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Common stock	6,391
Additional paid-in capital – common stock to be issued	615
Contingent consideration	1,654
Total	$ 8,660

Business Combinations (Detail_3

Business Combinations (Details) - Schedule of fair value of assets assumed in gramophone acquisition - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Lease liability	$ (1,086)
Accounts payable	(5,067)
Deferred tax asset	43,406	$ 34,431
Allowance for deferred tax asset	(10,200)
Deferred tax liability	(388)
Other liabilities	(716)
Net assets acquired	8,660
Gramophone Acquisition [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	4
Accounts receivable	$ 4
Trade name	5 years
Trade name	$ 73
Customer list	2 years
Customer list	$ 94
Goodwill	459
Deferred revenue	(51)
Deferred tax liability	(41)
Accrued liabilities	(129)
Net assets acquired	413
Podcast One [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	1,286
Accounts receivable	3,951
Prepaid expense and other assets	316
Property and equipment	$ 119
Content creator relationships	1 year 7 months 6 days
Content creator relationships	$ 772
Trade name	10 years
Trade name	$ 1,010
Goodwill	12,042
Accounts payable and accrued liabilities	(2,934)
Deferred tax asset	972
Allowance for deferred tax asset	(972)
Note payable	(471)
Net assets acquired	16,091
CPS [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	1,132
Accounts receivable	6,153
Inventories	2,600
Prepaid expense	29
Property and equipment	$ 585
Wholesale relationship	6 years
Wholesale relationship	$ 2,500
Domain name	10 years
Domain name	$ 400
Customer list	5 years
Customer list	$ 172
Goodwill	1,207
Other assets	53
Right of use asset	$ 1,086

Business Combinations (Detail_4

Business Combinations (Details) - Schedule of revenues, net loss and earnings per share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CPS [Member]
Condensed Income Statements, Captions [Line Items]
Revenues		$ 83,050
Net loss		$ (41,801)
Net loss per share – basic and diluted (in Dollars per share)		$ (0.61)
PodcastOne [Member]
Condensed Income Statements, Captions [Line Items]
Revenues		$ 69,953
Net loss		$ (42,656)
Net loss per share – basic and diluted (in Dollars per share)		$ (0.62)
Gramophone Acquisition [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	$ 117,623	$ 66,098
Net loss	$ (43,592)	$ (41,985)
Net loss per share – basic and diluted (in Dollars per share)	$ (0.55)	$ (0.61)

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.6
Amortization expense		$ 3.2

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property and equipment, net
Total property and equipment	$ 20,040	$ 16,103
Less accumulated depreciation and amortization	(15,352)	(11,736)
Total property and equipment, net	4,688	4,367
Computer, machinery, and software equipment [Member]
Property and equipment, net
Total property and equipment	5,508	5,277
Furniture and fixtures [Member]
Property and equipment, net
Total property and equipment	141	141
Leasehold improvements [Member]
Property and equipment, net
Total property and equipment	531	531
Capitalized internally developed software [Member]
Property and equipment, net
Total property and equipment	$ 13,860	$ 10,154

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-lived intangible assets	$ 6	$ 5.6

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details) - Schedule of changes in carrying amount of goodwill - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of changes in carrying amount of goodwill [Abstract]
Balance as of beginning	$ 22,619	$ 9,672
Acquisitions	459	12,947
Purchase price adjustment (See Note 4 – Business Combinations)	301
Balance as of ending	$ 23,379	$ 22,619

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details) - Schedule of changes in carrying amount of indefinite-lived intangible assets - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of changes in carrying amount of indefinite-lived intangible assets [Abstract]
Balance as of beginning	$ 4,637	$ 4,637
Acquisitions
Impairment losses
Balance as of ending	$ 4,637	$ 4,637

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Details) - Schedule of finite-lived intangible assets - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 38,394	$ 38,142
Accumulated Amortization	26,311	20,311
Net Carrying Value	12,083	17,831
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	19,281	19,281
Accumulated Amortization	16,389	12,533
Net Carrying Value	2,892	6,748
Intellectual property (patents) [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	5,366	5,366
Accumulated Amortization	1,520	1,163
Net Carrying Value	3,846	4,203
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	6,570	6,570
Accumulated Amortization	6,177	5,652
Net Carrying Value	393	918
Content creator relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	772	772
Accumulated Amortization	772	371
Net Carrying Value		401
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	514	429
Accumulated Amortization	83	31
Net Carrying Value	431	398
Brand and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	2,643	2,571
Accumulated Amortization	454	253
Net Carrying Value	2,189	2,318
Non-compete agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	250	250
Accumulated Amortization	181	97
Net Carrying Value	69	153
Customer list [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	2,998	2,903
Accumulated Amortization	735	211
Net Carrying Value	$ 2,263	$ 2,692

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Details) - Schedule of estimated future amortization expense $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Schedule of estimated future amortization expense [Abstract]
2023	$ 4,543
2024	1,074
2025	1,074
2026	1,074
2027	1,074
Thereafter	3,244
Total	$ 12,083

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - Schedule of accounts payable and accrued liabilities - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Schedule of accounts payable and accrued liabilities [Abstract]
Accounts payable	$ 29,640	$ 18,541
Accrued liabilities	15,505	13,786
Lease liabilities, current	273	319
Total	$ 45,418	$ 32,646

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Mar. 20, 2021	Jun. 17, 2020	Apr. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2014
Notes Payable (Details) [Line Items]
Aggregate principal amount					$ 0.5	$ 0.2
Proceeds from a loan			$ 2
Other income expense				$ 3.1
Convertible Notes Payable [Member]
Notes Payable (Details) [Line Items]
Proceeds from a loan	$ 0.6	$ 0.2
Balance is payable years		30 years
Interest at a rate	1%	3.75%

Notes Payable (Details) - Sched

Notes Payable (Details) - Schedule of notes payable - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Notes Payable (Details) - Schedule of notes payable [Line Items]
Notes payable, Total	$ 160	$ 3,614
Less: Current portion of Notes payable	(12)	(2,729)
Notes payable	148	885
Senior promissory note [Member]
Notes Payable (Details) - Schedule of notes payable [Line Items]
Notes payable, Total		351
SBA loan [Member]
Notes Payable (Details) - Schedule of notes payable [Line Items]
Notes payable, Total	160	153
PPP loans [Member]
Notes Payable (Details) - Schedule of notes payable [Line Items]
Notes payable, Total		$ 3,110

Unsecured Convertible Notes (De

Unsecured Convertible Notes (Details) - USD ($) $ in Millions			12 Months Ended
	Dec. 31, 2021	Feb. 05, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2024	Aug. 11, 2021
Unsecured Convertible Notes (Details) [Line Items]
incurred interest expense			$ 0.5	$ 0.7
Unsecured convertible notes payable outstanding, description			As of March 31, 2022 and March 31, 2021, the Company had outstanding 8.5% unsecured convertible notes payable (the “Trinad Notes”) issued to Trinad Capital Master Fund Ltd. (“Trinad Capital”), a fund controlled by Mr. Ellin, the Company’s Chief Executive Officer, Chairman, director and principal stockholder, as discussed below. The Trinad Notes are convertible into shares of the Company’s common stock at a fixed conversion price of $3.00 per share. The first Trinad Note was issued on February 21, 2017, to convert aggregate principal and interest of $3.6 million under the first senior promissory note and second senior promissory note with Trinad Capital previously issued on December 31, 2014 and April 8, 2015, respectively. The first Trinad Note was due on March 31, 2018 and was extended to May 31, 2023 (as discussed below). At March 31, 2022, the balance due of $5.9 million, which included $1.4 million of accrued interest, was outstanding under the first Trinad Note. At March 31, 2021, the balance due of $4.4 million, which included $1.0 million of accrued interest, was outstanding under the first Trinad Note. Between October 27, 2017 and December 18, 2017, the Company issued six unsecured convertible notes payable to Trinad Capital for aggregate total principal amount of $1.1 million. The notes were due on various dates through December 31, 2018 and were extended to May 31, 2023 (as discussed below).
Accrued interest			$ 0.3	$ 0.1
Trinad Capital issued (in Shares)						33,654
Loss on extinguishment of debt			4.3
Additional paid in capital			$ 4.2
Unsecured convertible promissory note, description		React Presents issued a two-year $2 million Convertible Promissory Note (the “Note”), bearing annual interest at 8%. The purpose of the Note was to fund the acquisition of React Presents. All unpaid and outstanding principal and any unpaid and accrued interest was due on February 5, 2022. At issuance, the Note was convertible by the holder at any time prior to maturity in part or in whole with the unpaid interest and principal convertible at a conversion price equal to $4.50 per share of the Company’s common stock, subject to certain protective adjustments. The Note may be prepaid in whole or in part in cash without penalty at any time prior to maturity. Any such prepayment will be applied to accrued interest first and then the principal.
Conversion of stock, description	the Note holder converted the Note in whole pursuant to an exchange agreement entered into during the year ended March 31, 2022, which provided for an exchange of the Note into shares of the Company’s common stock at a price of $2.10 per share, resulting in 1,155,143 shares issued upon the exchange. As a result of the effective exchange incentives offered to the Note holder, the Company recorded a $0.8 million expense to Other Income (expense) in the accompanying consolidated statement of operations for the year ended March 31, 2022.
Convertible Notes [Member] | Forecast [Member]
Unsecured Convertible Notes (Details) [Line Items]
Unsecured convertible notes					$ 5.9

Unsecured Convertible Notes (_2

Unsecured Convertible Notes (Details) - Schedule of unsecured convertible notes payable - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
8.5% Unsecured Convertible Note - Due May 31, 2023 [Member]
Unsecured Convertible Notes (Details) - Schedule of unsecured convertible notes payable [Line Items]
Unsecured Convertible Notes - Related Party	$ 4,702	$ 4,397
8.5% Unsecured Convertible Note - Due May 31, 2023 [Member]
Unsecured Convertible Notes (Details) - Schedule of unsecured convertible notes payable [Line Items]
Unsecured Convertible Notes - Related Party	1,177	1,104
Unsecured Convertible Notes - Related Party [Member]
Unsecured Convertible Notes (Details) - Schedule of unsecured convertible notes payable [Line Items]
Net	5,879	5,501
Unsecured Convertible Promissory Note [Member]
Unsecured Convertible Notes (Details) - Schedule of unsecured convertible notes payable [Line Items]
Unsecured Convertible Promissory Note		2,000
Accrued interest		186
Less: Discount		(223)
Fair Value of Embedded Derivatives		13
Net		1,976
Unsecured Convertible Promissory Notes, Net	5,879	7,477
Unsecured Convertible Promissory Notes, Net, Current		1,976
Unsecured Convertible Promissory Notes, Net, Long-Term	$ 5,879	$ 5,501

Senior Secured Convertible No_3

Senior Secured Convertible Notes (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2021	Sep. 15, 2020	Mar. 31, 2022	Mar. 31, 2021
Senior Secured Convertible Notes (Details) [Line Items]
Debt, description		the Company issued two-year secured convertible notes in the aggregate principal amount of $15.0 million (the “Harvest Notes”) to Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners, Ltd. (collectively, the “Purchaser”).
Aggregate cash deposits			$ 10
Secured revolving credit facility	$ 7
Company issued shares of common stock (in Shares)	60,000
Accretion of debt discount			2.3	$ 0.5
Interest expense			$ 1	$ 0.9
Registration Rights Agreement [Member]
Senior Secured Convertible Notes (Details) [Line Items]
Debt, description			The Harvest Notes mature on June 3, 2023, accrued interest at 8.5% per year with interest is payable quarterly in cash in arrears, and are convertible into shares of the Company’s common stock at a conversion price of $4.50 per share at the applicable Purchaser’s option, subject to certain customary adjustments such as stock splits, stock dividends and stock combinations (the “Conversion Price”).

Senior Secured Convertible No_4

Senior Secured Convertible Notes (Details) - Schedule of senior secured convertible notes - Senior Secured Convertible Notes [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Senior Secured Convertible Notes (Details) - Schedule of senior secured convertible notes [Line Items]
Senior Secured Convertible Notes	$ 15,000	$ 15,000
Fair value of embedded derivatives	18	118
Less: Discount	(1,368)	(2,071)
Senior Secured Convertible Notes, long-term	$ 13,650	$ 13,047

Senior Secured Revolving Line_3

Senior Secured Revolving Line of Credit (Details) - Revolving Credit Facility [Member] - USD ($) $ in Millions		12 Months Ended
	Jun. 02, 2021	Mar. 31, 2022
Senior Secured Revolving Line of Credit (Details) [Line Items]
Line of credit amount	$ 7
Maturity date	Jun. 02, 2023
Variable rate of interest	0.50%
Interest rate		4%
Principal balance		$ 7

Senior Secured Revolving Line_4

Senior Secured Revolving Line of Credit (Details) - Schedule of maturity senior secured revolving line of credit $ in Thousands	Mar. 31, 2022 USD ($)
Schedule of maturity senior secured revolving line of credit [Abstract]
2023	$ 12
2024	27,897
Thereafter	148
Total debt outstanding	28,057
Less: Debt discount on senior secured convertible notes and line of credit	(1,403)
Total notes payable, convertible notes, related and non-related party, net and senior secured line of credit	$ 26,654

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases (Details) [Line Items]
Description of operating lease	The Company leases a space at a location under a non-cancellable operating lease with a remaining lease term of 1 year, which expired in fiscal year 2022 and was renewed for an additional year. On December 22, 2020, the Company acquired CPS which included the assumption of an operating lease for a 55,120 square foot light manufacturing facility located in Addison Illinois, expiring June 30, 2024.
Operating leases total	$ 0.3	$ 0.3
Borrowing rate		8.50%
CHICAGO BOARD OF TRADE [Member]
Leases (Details) [Line Items]
Operating leases total	0.1	$ 0.1
Lease Agreements [Member]
Leases (Details) [Line Items]
Rent expense	0.3
Operating leases total	$ 0.8	$ 0.5

Leases (Details) - Schedule of

Leases (Details) - Schedule of operating lease costs - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of operating lease costs [Abstract]
Fixed rent cost	$ 752	$ 507
Short term lease cost	210	281
Total operating lease cost	$ 962	$ 788

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of supplemental balance sheet information related to leases - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of supplemental balance sheet information related to leases [Abstract]
Operating lease right-of-use assets	$ 728	$ 1,057
Operating lease liability, current	273	319
Operating lease liability, noncurrent	468	742
Total operating lease liabilities	$ 741	$ 1,061

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of maturities of operating lease liabilities $ in Thousands	Mar. 31, 2022 USD ($)
Schedule of maturities of operating lease liabilities [Abstract]
2023	$ 358
2024	320
2025	93
Total lease payments	771
Less: imputed interest	(30)
Present value of operating lease liabilities	$ 741

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details)	1 Months Ended
	Oct. 30, 2020
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Payment terms	Pursuant to this amendment, payment terms on $5.9 million of outstanding balances to the Music Partner were extended over periods between 12 and 24 months.

Other Long-Term Liabilities (_2

Other Long-Term Liabilities (Details) - Schedule of other long-term liabilities - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Schedule of other long-term liabilities [Abstract]
Due to Music Partner		$ 3,937
Other long-term liabilities	$ 174	$ 2,422

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Apr. 10, 2018
Commitments and Contingencies (Details) [Line Items]
Licenses, production and/or distribution agreements, Description	As of March 31, 2022, the Company has licenses, production and/or distribution agreements to make guaranteed payments as follows: $0.1 million for the fiscal year ending March 31, 2023.
Net revenues percentage	50%
Contractual obligations, description	As of March 31, 2022, the Company is obligated under agreements with Content Providers and other contractual obligations to make guaranteed payments as follows: $6.6 million for the fiscal year ending March 31, 2023, $5.5 million for the fiscal year ending March 31, 2024, $0.3 million for the fiscal year ending March 31, 2025 and $0.2 million for the fiscal year ending March 31, 2026.
Provide salary payments	$ 0.5
Bonus compensation	0.5
Aggregate amount	$ 10.5
Minimum [Member]
Commitments and Contingencies (Details) [Line Items]
Net revenues percentage	35%
Maximum [Member]
Commitments and Contingencies (Details) [Line Items]
Net revenues percentage	50%
Mr. Schnaier [Member]
Commitments and Contingencies (Details) [Line Items]
Ownership percentage		90%
Investment value		$ 10

Employee Benefit Plan (Details)

Employee Benefit Plan (Details)	12 Months Ended
	Mar. 31, 2022
Employee Benefit Plan [Abstract]
Employee benefit plan, description	The Company may make discretionary matching contributions to the 401(k) Plan on behalf of its employees up to a maximum of 100% of the participant’s elective deferral up to a maximum of 5% of the employees’ annual compensation. The Company provided a contribution of $0.1 million and $0.1 million, to its employees for the years ended March 31, 2022 and 2021, respectively.

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended			13 Months Ended
	Jul. 30, 2022	Jun. 30, 2022	Jul. 31, 2020	Apr. 30, 2018	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020	Apr. 18, 2022	Sep. 17, 2020
Stockholders’ Equity (Details) [Line Items]
Debt, description			In July 2020, the Company issued directly to a certain institutional investor and another investor a total of 1,820,000 shares of the Company’s common stock for net proceeds of approximately $7.3 million after offering costs at a price per share of $4.14.
Sale of common stock shares (in Shares)			1,820,000
Accounts payable and accrued liabilities						$ 700
Unrecognized compensation cost						100
Common restricted stock issued for services, value
Additional cash payment							1,800
Recognized share based compensation expense						12,700	11,300
Share-based compensation expense					$ 0	0
Share-based award bonus						1,100
Unrecognized compensation cost							300
Stock option exercised						$ 872	$ 2,600
Stock option forfeited (in Shares)						700,000	700,000
Stock options outstanding and exercisable						$ 12,700	$ 12,900
Incremental share-based compensation expense							900
Weighted average remaining contractual term						5 years 10 months 24 days
Fair value of restricted stock units						$ 10,700	5,800
Fair value of restricted stock units						$ 5,000	$ 600
Restricted stock units granted to key executive (in Shares)				1,150,000
Number of shares issued and timing of vesting (in Shares)				464,557
Aggregate number of shares of capital stock authority to issue shares (in Shares)						510,000,000
Common stock, authorized (in Shares)						500,000,000	500,000,000
Preferred stock authorized (in Shares)						10,000,000	10,000,000
Preferred stock, par value (in Dollars per share)						$ 0.001	$ 0.001
Repurchase of shares (in Shares)								2,000,000
2016 Equity Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)						12,600,000
Maximum contractual term						10 years
Number of shares issuance increase under the plan (in Shares)						4,484,713
Stock options expire period						10 years
Options Grants to Employees [Member]
Stockholders’ Equity (Details) [Line Items]
Option awards period						4 years
Unrecognized compensation cost						$ 1,100
Weighted average service period						5 years 9 months 29 days
Options to employees exercisable						6 years 2 months 19 days
Options to employees outstanding						5 years 9 months 29 days
Intrinsic value of options exercisable						$ 300
Restricted Stock Units Grants [Member]
Stockholders’ Equity (Details) [Line Items]
Weighted average service period						11 months 15 days
Compensation costs for unvested awards						$ 2,100
Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Weighted average service period						5 years 1 month 2 days	5 years 3 months
Original exercise period									3 years
Minimum [Member] | 2016 Equity Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Shares available for issuance (in Shares)										5,000,000
Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Weighted average service period						6 years 10 months 13 days	7 years
Original exercise period									12 years
Maximum [Member] | 2016 Equity Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Shares available for issuance (in Shares)										17,600,000
Stock Option [Member]
Stockholders’ Equity (Details) [Line Items]
Stock options outstanding and exercisable						$ 13,500	$ 14,800
Consultants [Member]
Stockholders’ Equity (Details) [Line Items]
Debt, description						During year ended March 31, 2021, the Company issued 4,061,326 shares of its common stock and restricted common stock valued at $12.6 million to certain Company consultants and vendors of which $8.8 million related to shares issued to settle accounts payable which includes the shares issued to MBRG Investors, LLC and the shares issued to a certain music partner and $3.8 million relates to shares issued in exchange for services and is included in share-based compensation. Additionally, the Company incurred $1.2 million in accounts payable and accrued liabilities for stock earned by its consultants, but not yet issued. The remaining unrecognized compensation cost associated with restricted shares of common stock issued to consultants and vendors of $0.7 million was recorded during the year ended March 31, 2022.
Common restricted stock issued for services, shares (in Shares)						4,061,326
Common restricted stock issued for services, value						$ 12,600
Music licensor [Member]
Stockholders’ Equity (Details) [Line Items]
Debt, description	In July 2020, the Company issued to a certain music licensor 2,415,459 shares (the “Shares”) of its common stock at a price of $3.28 per share, to satisfy the Company’s payment obligation in the amount of $10.0 million owed to such music licensor (the “Threshold Amount”).
Guarantee payments and issued shares of common stock (in Shares)		264,000
Key Executives [Member]
Stockholders’ Equity (Details) [Line Items]
Options granted (in Shares)									1,326,667

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Schedule of option grants employees - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders’ Equity (Details) - Schedule of option grants employees [Line Items]
Number of options granted (in Shares)	205,000	350,000
Weighted-average exercise price per share	$ 1.19	$ 4.11
Weighted-average grant date fair value per share	1.74	1.85
Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity (Details) - Schedule of option grants employees [Line Items]
Weighted-average grant date fair value per share	$ 3.77	$ 3.15
Number of units granted (in Shares)	2,555,767	1,914,136

Stockholders_ Equity (Details_2

Stockholders’ Equity (Details) - Schedule of Black-Sholes-Merton option-pricing model	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders’ Equity (Details) - Schedule of Black-Sholes-Merton option-pricing model [Line Items]
Dividend yield
Minimum [Member]
Stockholders’ Equity (Details) - Schedule of Black-Sholes-Merton option-pricing model [Line Items]
Expected volatility	77.36%	53.97%
Risk-free rate	0.75%	0.22%
Expected term (in years)	5 years 1 month 2 days	5 years 3 months
Maximum [Member]
Stockholders’ Equity (Details) - Schedule of Black-Sholes-Merton option-pricing model [Line Items]
Expected volatility	84.98%	73.61%
Risk-free rate	2.17%	0.46%
Expected term (in years)	6 years 10 months 13 days	7 years

Stockholders_ Equity (Details_3

Stockholders’ Equity (Details) - Schedule of stock option activity - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employees [Member]
Stockholders’ Equity (Details) - Schedule of stock option activity [Line Items]
Number of Shares, Outstanding Beginning balance	3,921,584	4,403,334
Weighted- Average Exercise Price per Share, Outstanding Beginning balance	$ 3.74	$ 3.74
Number of Shares, Granted	205,000	350,000
Weighted- Average Exercise Price per Share, Granted	$ 1.74	$ 4.11
Number of Shares, Exercised	(400,460)	(654,250)
Weighted- Average Exercise Price per Share, Exercised	$ 2.18	$ 3.9
Number of Shares, Forfeited or expired	(160,933)	(177,500)
Weighted- Average Exercise Price per Share, Forfeited or expired	$ 4.1	$ 4
Number of Shares, Outstanding Ending balance	3,565,191	3,921,584
Weighted- Average Exercise Price per Share, Outstanding Ending balance	$ 3.78	$ 3.74
Number of Shares, Exercisable Ending balance	3,207,358
Weighted- Average Exercise Price per Share, Exercisable Ending balance	$ 3.97
Non-Employees [Member]
Stockholders’ Equity (Details) - Schedule of stock option activity [Line Items]
Number of Shares, Outstanding Beginning balance	25,000	25,000
Weighted- Average Exercise Price per Share, Outstanding Beginning balance	$ 4	$ 4
Number of Shares, Granted
Weighted- Average Exercise Price per Share, Granted
Number of Shares, Exercised
Weighted- Average Exercise Price per Share, Exercised
Number of Shares, Forfeited or expired
Weighted- Average Exercise Price per Share, Forfeited or expired		$ 4
Number of Shares, Outstanding Ending balance	25,000	25,000
Weighted- Average Exercise Price per Share, Outstanding Ending balance	$ 4	$ 4
Number of Shares, Exercisable Ending balance	25,000
Weighted- Average Exercise Price per Share, Exercisable Ending balance	$ 4

Stockholders_ Equity (Details_4

Stockholders’ Equity (Details) - Schedule of activity restricted stock units issued to employees - shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Apr. 01, 2020
Restricted Stock Units Grants [Member]
Stockholders’ Equity (Details) - Schedule of activity restricted stock units issued to employees [Line Items]
Outstanding	3,064,375	4,512,916	4,530,705
Granted	2,555,767	1,914,136
Vested	(2,518,791)	(1,641,082)
Cancelled	(1,485,517)	(290,843)
Restricted Stock Awards [Member]
Stockholders’ Equity (Details) - Schedule of activity restricted stock units issued to employees [Line Items]
Outstanding			24,675
Cancelled		(24,675)

Stockholders_ Equity (Details_5

Stockholders’ Equity (Details) - Schedule of warrant - shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of warrant [Abstract]
Number of Warrants, Balance outstanding		167,363
Weighted Average Exercise Price, Balance outstanding		4.01
Weighted- Average Remaining Contractual Term (in years), Balance outstanding		11 months 8 days
Number of Warrants, Granted
Weighted Average Exercise Price, Granted
Weighted- Average Remaining Contractual Term (in years), Granted
Number of Warrants, Exercised
Weighted Average Exercise Price, Exercised
Weighted- Average Remaining Contractual Term (in years), Exercised
Number of Warrants, Forfeited/expired		(167,363)
Weighted Average Exercise Price, Forfeited/expired		4.01
Weighted- Average Remaining Contractual Term (in years), Forfeited/expired		11 months 8 days
Number of Warrants, Balance outstanding
Weighted Average Exercise Price, Balance outstanding
Weighted- Average Remaining Contractual Term (in years), Balance outstanding
Number of Warrants, Exercisable
Weighted Average Exercise Price, Exercisable
Weighted- Average Remaining Contractual Term (in years), Exercisable

Income Tax Provision (Details)

Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Federal and state net operating loss carryforwards, description	the Company had available federal and state net operating loss carryforwards to reduce future taxable income of approximately $143.6 million and $91.7 million, respectively. The federal and state net operating loss carryforwards begin to expire on various dates beginning in 2028. Of the $143.6 million of federal net operating loss carryforwards, $54.1 million was generated in tax years beginning before March 31, 2018 and is subject to the 20-year carryforward period (“pre-Tax Act losses”), the remaining $89.5 million (“post-Tax Act losses”) can be carried forward indefinitely but is subject to the 80% taxable income limitation.
Income tax, description	The Company obtained $136.0 million and $2.6 million of net operating loss and credit carryforwards, respectively, through the acquisition of Slacker, Inc. in December 2017.  Utilization of these losses is limited by Section 382 and 383 of the Code in fiscal year end March 31, 2018 and each taxable year thereafter.  The Company has estimated a limitation and revalued the losses and credits at $22.0 million and $0, respectively.  It is possible that the utilization of these NOL carryforwards and tax credits may be further limited. The Company will undertake a study to determine the applicable limitations, if any. Upon the attainment of taxable income by the Company, management will assess the likelihood of realizing the tax benefit associated with the use of the carryforwards and will recognize the appropriate deferred tax asset at that time.
Net operating loss carryforwards	$ 39.8	$ 29.6
Valuation allowance	$ 10.2

Income Tax Provision (Details)

Income Tax Provision (Details) - Schedule of pretax loss and income tax (benefit) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loss before income taxes:
Domestic	$ (43,729)	$ (42,165)
Foreign
Total loss before income taxes	(43,729)	(42,165)
Current
U.S. Federal
State	22	14
Foreign
Total Current	22	14
Deferred:
U.S. Federal	86	(330)
State	75	(29)
Foreign
Total Deferred	161	(359)
Total provision for income taxes	$ 183	$ (345)

Income Tax Provision (Details_2

Income Tax Provision (Details) - Schedule of statutory income tax rates and the income tax provision - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of statutory income tax rates and the income tax provision [Abstract]
Income taxes computed at Federal statutory rate	$ (9,183)	$ (8,855)
State tax — net of federal benefit	(1,343)	(888)
State minimum taxes		14
Change in tax rates	(51)	(375)
Change in valuation allowance	10,175	7,165
Permanent differences	585	2,594
Total provision for income taxes	$ 183	$ (345)

Income Tax Provision (Details_3

Income Tax Provision (Details) - Schedule of deferred income tax assets and (liabilities) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 36,368	$ 25,994
Property and equipment	258	307
Accruals and reserves	1,718	2,060
Stock compensation	3,868	4,653
163 (j) interest expense carryforwards	1,125	832
Charitable contribution carryforward	69	63
Capital loss carryforward		522
Gross deferred tax assets	43,406	34,431
Deferred tax liabilities:
Right of use asset	(185)
Intangible assets	(3,767)	(4,951)
Net deferred tax assets	39,454	29,480
Valuation allowance	(39,792)	(29,617)
Net deferred tax liability	$ (338)	$ (137)

Business Segment and Geograph_2

Business Segment and Geographic Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Segment and Geographic Reporting (Details) [Line Items]
Number of operating segment	1
Concentration risk percentage	24%	21%
Totel revenue (in Dollars)	$ 117,019	$ 65,230
Sales Revenue, Net [Member] | One External Customer [Member]
Business Segment and Geographic Reporting (Details) [Line Items]
Number of customers	1
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | One External Customer [Member]
Business Segment and Geographic Reporting (Details) [Line Items]
Concentration risk percentage	10%
OEM [Member]
Business Segment and Geographic Reporting (Details) [Line Items]
Totel revenue (in Dollars)	$ 32,300	$ 23,300

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of fair value of financial liabilities are measured at fair value on a recurring basis - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability from PodcastOne acquisition	$ 2,965	$ 2,423
Contingent consideration liability from CPS acquisition		2,513
Bifurcated embedded derivative on senior secured convertible notes payable		118
Contingent consideration liability from Gramophone acquisition	174
Bifurcated embedded derivative on senior secured convertible note payable	18	13
Total convertible debt liabilities	3,157	5,067
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability from PodcastOne acquisition
Contingent consideration liability from CPS acquisition
Bifurcated embedded derivative on senior secured convertible notes payable
Contingent consideration liability from Gramophone acquisition
Bifurcated embedded derivative on senior secured convertible note payable
Total convertible debt liabilities
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability from PodcastOne acquisition
Contingent consideration liability from CPS acquisition
Bifurcated embedded derivative on senior secured convertible notes payable
Contingent consideration liability from Gramophone acquisition
Bifurcated embedded derivative on senior secured convertible note payable
Total convertible debt liabilities
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability from PodcastOne acquisition	2,965	2,423
Contingent consideration liability from CPS acquisition		2,513
Bifurcated embedded derivative on senior secured convertible notes payable		118
Contingent consideration liability from Gramophone acquisition	174
Bifurcated embedded derivative on senior secured convertible note payable	18	13
Total convertible debt liabilities	$ 3,157	$ 5,067

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of derivative instruments - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of derivative instruments [Abstract]
Balance as of April 1, 2020	$ 5,067	$ 665
Initial measurement of contingent consideration from PodcastOne acquisition on July 1, 2020		1,100
Initial measurement of contingent consideration from CPS acquisition on December 22, 2020		1,654
Initial measurement of embedded derivatives on senior secured convertible notes issued on September 15, 2020		671
Total fair value adjustments reported in earnings		977
Balance as of March 31, 2021		$ 5,067
Change in fair value of bifurcated embedded derivatives, reported in earnings	(113)
Change in fair value of contingent consideration liabilities, reported in earnings	(145)
Common stock settlement of contingent consideration liability from CPS acquisition	(1,826)
Initial measurement of contingent consideration for Gramophone acquisition	174
Balance as of March 31, 2022	$ 3,157

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of derivative on senior secured convertible debentures	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Measurements (Details) - Schedule of derivative on senior secured convertible debentures [Line Items]
Market yield	4.70%	17%
Notes payable [Member]
Fair Value Measurements (Details) - Schedule of derivative on senior secured convertible debentures [Line Items]
Market yield		26.50%

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of fair value measurement option for financial assets or liabilities - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Liabilities:
Senior secured convertible notes payable, net	$ 13,650	$ 13,047
Unsecured convertible notes payable related party, net	5,879	5,501
Unsecured convertible note payable		1,976
Level 1 [Member]
Liabilities:
Senior secured convertible notes payable, net
Unsecured convertible notes payable related party, net
Unsecured convertible note payable
Level 2 [Member]
Liabilities:
Senior secured convertible notes payable, net
Unsecured convertible notes payable related party, net
Unsecured convertible note payable
Level 3 [Member]
Liabilities:
Senior secured convertible notes payable, net	15,448	20,228
Unsecured convertible notes payable related party, net	$ 6,084	9,216
Unsecured convertible note payable		$ 2,167

Fair Value Measurements (Deta_5

Fair Value Measurements (Details) - Schedule of fair value of each of the debentures	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Secured Convertible Notes Payable Net [Member]
Fair Value Measurements (Details) - Schedule of fair value of each of the debentures [Line Items]
Market yield	6.30%	17%
Unsecured convertible notes payable related party, net [Member]
Fair Value Measurements (Details) - Schedule of fair value of each of the debentures [Line Items]
Market yield	6.60%	23%
Unsecured convertible note payable [Member]
Fair Value Measurements (Details) - Schedule of fair value of each of the debentures [Line Items]
Market yield		26.50%

Subsequent Events (Details)

Subsequent Events (Details)	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent events ,description	Subsequent to March 31, 2022 and as of June 28, 2022, the Company repurchased 1,186,221 shares of its common stock at an average price of $0.84 per share.