Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2024 | Jun. 24, 2024 | Sep. 30, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001491419 | ||
Entity Registrant Name | LiveOne, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2024 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Mar. 31, 2024 | ||
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., 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 | ||
Trading Symbol | LVO | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 75,300,000 | ||
Entity Common Stock, Shares Outstanding | 98,957,316 | ||
Auditor Name | Macias Gini & O’Connell LLP | ||
Auditor Location | Los Angeles, California | ||
Auditor Firm ID | 324 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Current Assets | ||
Cash and cash equivalents | $ 6,987 | $ 8,409 |
Restricted cash | 155 | 240 |
Accounts receivable, net | 13,205 | 13,658 |
Inventories | 1,801 | 2,596 |
Prepaid expense and other current assets | 2,187 | 2,823 |
Total Current Assets | 24,335 | 27,726 |
Property, Plant and Equipment, Net | 3,646 | 3,325 |
Goodwill | 23,379 | 23,379 |
Intangible assets, net | 12,415 | 11,035 |
Other assets | 88 | 423 |
Total Assets | 63,863 | 65,888 |
Liabilities, Current [Abstract] | ||
Accounts payable and accrued liabilities | 26,953 | 22,772 |
Accrued royalties | 10,862 | 12,826 |
Notes payable, current portion | 692 | 15 |
Bridge loan | 0 | 4,726 |
Senior secured revolving line of credit, net | 7,000 | 0 |
Deferred revenue | 728 | 992 |
Derivative liabilities | 607 | 3,148 |
Total Current Liabilities | 46,842 | 44,479 |
Senior secured revolving line of credit, net | 0 | 7,000 |
Notes payable, net | 771 | 148 |
Lease liabilities, noncurrent | 0 | 161 |
Derivative liabilities, noncurrent | 0 | 376 |
Other long-term liabilities | 9,354 | 9,578 |
Deferred income taxes | 339 | 332 |
Total Liabilities | 57,306 | 62,074 |
Commitments and Contingencies | ||
Mezzanine Equity | ||
Redeemable convertible preferred stock, $0.001 par value; 100,000 shares authorized; 5,000 shares issued and outstanding as of March 31, 2024 and 2023, respectively | 4,962 | 4,827 |
Stockholders’ Equity (Deficit) | ||
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 18,814 and 16,177 shares issued and outstanding as of March 31, 2024 and 2023, respectively | 18,814 | 16,177 |
Common stock, $0.001 par value; 500,000,000 shares authorized; 88,627,420 issued and outstanding as of March 31, 2024; 87,441,247 shares issued and outstanding as of March 31, 2023 | 92 | 90 |
Additional paid in capital | 216,116 | 209,151 |
Treasury stock | (4,782) | (2,162) |
Accumulated deficit | (238,984) | (224,269) |
Total LiveOne's Stockholders’ Deficit | (8,744) | (1,013) |
Non-controlling interest | 10,339 | 0 |
Total equity (deficit) | 1,595 | (1,013) |
Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | $ 63,863 | $ 65,888 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2024 | Mar. 31, 2023 |
Temporary equity, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Temporary equity, authorized (in shares) | 100,000 | 100,000 |
Temporary equity, issued (in shares) | 5,000 | 5,000 |
Temporary equity, outstanding (in shares) | 5,000 | 5,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 18,814 | 16,177 |
Preferred stock, outstanding (in shares) | 18,814 | 16,177 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, issued (in shares) | 88,627,420 | 87,441,247 |
Common stock, outstanding (in shares) | 88,627,420 | 87,441,247 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue: | $ 118,440 | $ 99,611 |
Operating expenses: | ||
Cost of sales | 86,391 | 66,782 |
Sales and marketing | 7,838 | 8,302 |
Product development | 4,681 | 5,136 |
General and administrative | 22,268 | 15,877 |
Amortization of intangible assets | 1,815 | 4,342 |
Impairment of intangible assets | 115 | 1,356 |
Total operating expenses | 123,108 | 101,795 |
Loss from operations | (4,668) | (2,184) |
Other income (expense): | ||
Interest expense, net | (4,366) | (7,341) |
Loss on extinguishment of debt | 0 | (1,034) |
Other income (expense) | (4,159) | 605 |
Total other expense, net | (8,525) | (7,770) |
Loss before income taxes | (13,193) | (9,954) |
Income tax provision | 118 | 65 |
Net loss | (13,311) | (10,019) |
Net loss attributable to non-controlling interest | (1,345) | 0 |
Net loss attributable to LiveOne | $ (11,966) | $ (10,019) |
Net loss per share attributed to LiveOne – basic and diluted (in dollars per share) | $ (0.14) | $ (0.12) |
Weighted average common shares – basic and diluted (in shares) | 87,617,392 | 84,772,708 |
Debt Excluding Paycheck Protection Program CARES Act [Member] | ||
Other income (expense): | ||
Loss on extinguishment of debt | $ 0 | $ (1,034) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Redeemable Convertible Preferred Stock 1 [Member] | Preferred Stock [Member] | Common Stock Outstanding [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) at Mar. 31, 2022 | 0 | 0 | 82,546,189 | 0 | |||||
Balance at Mar. 31, 2022 | $ 0 | $ 0 | $ 83 | $ 202,854 | $ (213,853) | $ 0 | $ 0 | $ (10,916) | |
Stock-based compensation | $ 0 | $ 0 | 1 | 3,048 | 0 | 0 | $ 0 | 3,049 | |
Vested employee restricted stock units (in shares) | 0 | 0 | 2,136,769 | 0 | |||||
Vested employee restricted stock units | $ 0 | $ 0 | 2 | 0 | 0 | 0 | $ 0 | 2 | |
Issuance of shares for modification of debt instruments (in shares) | 0 | 0 | 1,250,000 | 0 | |||||
Issuance of shares for modification of debt instruments | $ 0 | $ 0 | 1 | 1,300 | 0 | 0 | $ 0 | 1,301 | |
Extinguishment of debt – related party | $ 0 | $ 0 | 0 | (488) | 0 | 0 | $ 0 | (488) | |
Issuance of shares for settlement of earnout (in shares) | 0 | 0 | 414,137 | 0 | |||||
Non-cash settlement of contingent consideration in exchange for 414,137 shares of common stock | $ 0 | $ 0 | 0 | 493 | 0 | 0 | $ 0 | 493 | |
Issuance of shares for settlement of accrued expenses (in shares) | 0 | 0 | 1,259,188 | 0 | |||||
Issuance of shares for settlement of accrued expenses | $ 0 | $ 0 | 1 | 944 | 0 | 0 | $ 0 | 945 | |
Common stock issued as part of debt extinguishment (in shares) | 0 | 0 | 825,000 | 0 | |||||
Common stock issued as part of debt extinguishment | $ 0 | $ 0 | 1 | 652 | 0 | 0 | $ 0 | 653 | |
Issuance of preferred stock in exchange of debt (in shares) | 5,000 | 16,177 | 0 | 0 | |||||
Issuance of preferred stock in exchange of debt | $ 4,827 | $ 16,177 | 0 | 0 | 0 | 0 | $ 0 | 16,177 | |
Dividends on Series A preferred stock | $ 0 | $ 0 | 0 | (397) | 0 | $ 0 | (397) | ||
Common stock issued for services (in shares) | 0 | 0 | 1,200,878 | 0 | |||||
Common stock issued for services | $ 0 | $ 0 | 1 | 348 | 0 | 0 | $ 0 | 349 | |
Treasury stock purchases | 0 | 0 | 0 | $ (2,162) | $ (2,162) | ||||
Treasury stock purchases (in shares) | (2,220,914) | (2,220,914) | |||||||
Net loss | $ 0 | $ 0 | 0 | (10,019) | 0 | $ 0 | $ (10,019) | ||
Balance (in shares) at Mar. 31, 2023 | 5,000 | 16,177 | 89,632,161 | (2,220,914) | |||||
Balance at Mar. 31, 2023 | $ 4,827 | $ 16,177 | 90 | 209,151 | (224,269) | 0 | $ (2,162) | (1,013) | |
Vested employee restricted stock units (in shares) | 0 | 0 | 1,855,576 | 0 | |||||
Vested employee restricted stock units | $ 0 | $ 0 | 2 | 0 | 0 | 0 | $ 0 | 2 | |
Non-cash settlement of contingent consideration in exchange for 414,137 shares of common stock | 0 | ||||||||
Dividends on Series A preferred stock | $ 0 | $ 0 | 0 | 0 | (2,749) | 0 | $ 0 | (2,749) | |
Common stock issued for services (in shares) | 0 | 0 | 989,722 | 0 | |||||
Common stock issued for services | $ 0 | $ 0 | 0 | 1,418 | 0 | 0 | $ 0 | 1,418 | |
Treasury stock purchases | 0 | 0 | 0 | $ (2,620) | $ (2,620) | ||||
Treasury stock purchases (in shares) | (1,639,125) | (1,639,125) | |||||||
Net loss | 0 | 0 | 0 | (11,966) | (1,345) | $ 0 | $ (13,311) | ||
Stock-based compensation | $ 0 | $ 0 | 0 | 5,496 | 0 | 0 | $ 0 | 5,496 | |
Exercise of common stock options (in shares) | 0 | 0 | 10,000 | 0 | |||||
Exercise of common stock options | $ 0 | $ 0 | 0 | 8 | 0 | 0 | $ 0 | 8 | |
Common stock issued for purchase of intangible assets | 0 | 0 | 0 | 1,079 | 0 | 0 | 0 | 1,079 | |
Conversion of PC1 bridge loan | 0 | 0 | 0 | 4,752 | 0 | 0 | 0 | 4,752 | |
Dividends from spin-off of PodcastOne | 0 | 0 | 0 | (1,513) | 0 | 1,513 | 0 | 0 | |
Reclassification of common stock warrants | 0 | 0 | 0 | 0 | 0 | 5,896 | 5,896 | ||
Issuance of PodcastOne common stock | $ 0 | $ 0 | 0 | (4,275) | 0 | 4,275 | $ 0 | 0 | |
Accrued dividends converted to preferred stock (in shares) | 0 | 2,637 | 0 | 0 | |||||
Accrued dividends converted to preferred stock | $ 0 | $ 2,637 | 0 | 0 | 0 | 0 | $ 0 | 2,637 | |
Preferred stock accretion | $ 135 | $ 0 | 0 | 0 | 0 | 0 | $ 0 | 0 | |
Balance (in shares) at Mar. 31, 2024 | 5,000 | 18,814 | 92,487,459 | (3,860,039) | |||||
Balance at Mar. 31, 2024 | $ 4,962 | $ 18,814 | $ 92 | $ 216,116 | $ (238,984) | $ 10,339 | $ (4,782) | $ 1,595 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (13,311) | $ (10,019) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 5,107 | 7,969 |
Interest paid in kind | 269 | 322 |
Stock-based compensation | 6,336 | 3,048 |
Change in fair value of bifurcated embedded derivatives | 4,460 | 523 |
Amortization of debt discount | 1,110 | 4,179 |
Deferred income taxes | 7 | (6) |
Change in fair value of contingent consideration liability | 174 | (2,220) |
Accretion of preferred stock | 135 | 0 |
Loss on extinguishment of debt | 0 | 1,034 |
Settlement of accrued expenses | 0 | (7,649) |
Impairment of fixed assets | 2 | 146 |
Impairment of intangibles | 115 | 1,356 |
Provision for credit losses | 485 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (32) | 29 |
Prepaid expenses and other current assets | 682 | (1,660) |
Inventories | 795 | 3 |
Other assets | 289 | 351 |
Deferred revenue | (264) | (165) |
Accounts payable and accrued liabilities | 2,849 | (380) |
Accrued royalties | 1,756 | 0 |
Other liabilities | (4,116) | (704) |
Net cash provided by (used in) operating activities | 6,848 | (3,843) |
Cash Flows from Investing Activities: | ||
Purchases of property and equipment | (3,036) | (2,437) |
Purchase of intangible assets | (1,010) | (13) |
Net cash used in investing activities | (4,046) | (2,450) |
Cash Flows from Financing Activities: | ||
Payment of contingent consideration | 0 | (426) |
Proceeds on notes payable – related party | 0 | 300 |
Repayment of notes payable – related party | 0 | (300) |
Proceeds from notes payable | 1,700 | 0 |
Repayments of notes payable | (397) | 0 |
Proceeds from Bridge Loan | 0 | 4,376 |
Repayment of Bridge Loan | (3,000) | 0 |
Proceeds from exercise of stock options | 8 | 0 |
Purchases of treasury stock | (2,620) | (2,162) |
Net cash (used in) provided by financing activities | (4,309) | 1,788 |
Net change in cash, cash equivalents and restricted cash | (1,507) | (4,505) |
Cash, cash equivalents and restricted cash, beginning of year | 8,649 | 13,154 |
Cash, cash equivalents and restricted cash, end of year | 7,142 | 8,649 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes | 37 | 0 |
Cash paid for interest | 1,113 | 1,931 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Accrual of dividends | 2,749 | 397 |
PodcastOne warrants reclassed from liabilities to non-controlling interest | 5,896 | 0 |
Fair value of 2,075,000 and 1,248,797 shares issued in connection with Senior Secured Convertible Notes and Unsecured Convertible Notes modification and extinguishment | 0 | 1,954 |
Fair value of common stock options and restricted stock issued to employees, capitalized as internally-developed software | 578 | 26 |
Non-cash settlement of contingent consideration in exchange for 414,137 shares of common stock | 0 | 493 |
1,259,188 shares of common stock issued to consultant and vendors to settle accounts payable | 0 | 945 |
Fair value of warrant and derivative liabilities issued with debt and equity instruments | 0 | 3,280 |
Purchase of intangible assets accrued for at period end | 1,221 | 0 |
Purchase of intangible assets with common stock | 1,079 | 0 |
Conversion of Bridge Loan into PodcastOne Common Stock [Member] | ||
Supplemental disclosure of non-cash investing and financing activities: | ||
Debt Conversion, Original Debt | 4,752 | 0 |
Bridge Loan Accrued Interest Converted to Common Stock [Member] | ||
Supplemental disclosure of non-cash investing and financing activities: | ||
Debt Conversion, Original Debt | 142 | 0 |
Conversion of Unsecured Convertible Notes to Series A-1 Preferred Stock [Member] | ||
Supplemental disclosure of non-cash investing and financing activities: | ||
Debt Conversion, Original Debt | 0 | 21,177 |
Accrued Dividends Converted to Preferred Stock [Member] | ||
Supplemental disclosure of non-cash investing and financing activities: | ||
Accrued dividends converted to Series A Preferred Stock | $ 2,637 | $ 0 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - shares | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Shares Issued in Connection With Senior Secured Convertible Notes and Unsecured Convertible Notes Modification and Extinguishment (in shares) | 2,075,000 | 1,248,797 |
Issuance of shares for settlement of earnout (in shares) | 414,137 | |
Shares of Common Stock Issued to Consultant and Vendors to Settle Accounts Payable (in shares) | 1,259,188 | |
Conversion of Unsecured Convertible Notes to Series A-1 Preferred Stock [Member] | ||
Converted Instrument, Shares Issued (in shares) | 21,177 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Organization and Basis of Presentation Organization LiveOne, 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, December 29, 2017, February 5, 2020, July 1, 2020, December 22, 2020, October 5, 2021, October 17, 2021, February 28, 2023, September 8, 2023, Basis of Presentation The accompanying consolidated financial statements include the Company’s results of operations and those of its wholly-owned and majority-owned subsidiaries. The Company’s accounting and financial reporting policies conform to generally accepted accounting principles in the United States of America (“U.S. GAAP”). Reclassifications 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 2 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 $7.1 million as of March 31, 2024 March 31, 2024 one not 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 3” February 17, 2022. 3, May 2024, may 10 not may may may may No may may no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Summary of Significant Accounting Policies 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. 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 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 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 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. 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 30 Third-Party Original Equipment Manufacturers The Company generates revenue for membership services through memberships sold through a third 30 not Advertising Revenue Advertising revenue primarily consist of revenues generated from the sale of audio, video, and display advertising space to third third From time to time we enter into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized ratably over time based on the terms of the contract as delivery of impressions is performed on a consistent basis. Services received are charged to expense in the same manner. Total revenues related to barter transactions were $16.7 million and $8.4 million for the years ended March 31, 2024 March 31, 2023 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. We report our licensing revenue on a gross basis as we act as the principal in the underlying transactions. We report our licensing revenue on a gross basis as we act as the principal in the underlying transactions. 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 one 30 60 March 31, 2024 2023 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 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 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 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, 2024 2023 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 $0.2 million and $0.3 million for the years ended March 31, 2024 2023 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 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 not 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 Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two two The treasury stock method is used to calculate the potentially dilutive effect of stock options and RSUs. The if-converted method is used to calculate the potentially dilutive effect of the Preferred Stock. In both methods, diluted net income (loss) attributable to common stockholders and diluted weighted-average shares outstanding are adjusted to account for the impact of the assumed issuance of potential common shares that are dilutive, subject to dilution sequencing rules. At March 31, 2024 2023 The following table is a reconciling basic and diluted earnings per share under the two Year Ended Year Ended In thousands, except per share amounts March 31, 2024 March 31, 2023 Net loss attributed to LiveOne $ (11,966 ) $ (10,019 ) Dividends on Series A Preferred Stock (2,749 ) (396 ) Net loss attributed to LiveOne $ (14,715 ) $ (10,415 ) Basic and diluted weighted average number of shares of common stock outstanding 87,617,392 84,772,708 Basic and diluted earnings per share $ (0.17 ) $ (0.12 ) 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 Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three 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 ( 2024 2023 Cash and cash equivalents $ 6,987 $ 8,409 Restricted cash 155 240 Total cash and cash equivalents and restricted cash $ 7,142 $ 8,649 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 March 31, 2024 2023 Allowance for Credit Losses 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, 2024 2023 one The following table provides amounts included in accounts receivable, net for the fiscal years ended March 31 ( 2024 2023 Accounts receivable $ 14,260 $ 14,228 Less: Allowance for credit losses 1,055 570 Accounts receivable, net $ 13,205 $ 13,658 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 first 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. 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 (2 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 five March 31, 2024 2023 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 not may not January 1 Our annual goodwill impairment test is performed at the reporting unit level. As of March 31, 2024 2023 three 21 first not not not March 31, 2024 2023 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 March 31, 2024 2023 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 not 2024 19 2023. March 31, 2024 2023, 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 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 may three 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 March 31, 2024 2023 3 no Debt with Warrants In accordance with ASC Topic 470 20 25, Convertible Debt – Derivative Treatment When the Company issues debt with a conversion feature, we must first one one no not 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 appropriate valuation 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. Debt Modifications and Extinguishments When the Company modifies or extinguishes debt, it first 470 60, 1 2 not 470 50 40, If there is a conversion feature within the debt instrument, the Company evaluates whether the conversion feature should be bifurcated under ASC 815 no no not 470 50 40 10 470 20 25 not 470 Concentration of Credit Risk The Company maintains cash balances at commercial banks. Cash balances commonly exceed the $250,000 not not Seasonality Our CPS merchandising business is affected by seasonality, which typically results in higher sales volume during our third December 31. Recently Issued Accounting Pronouncements In November 2023, 2023 07, 280 2024 In December 2023, 2023 09, 740 2023 09” 2023 09 2023 09 first 2026. 2023 09 Recently Adopted Accounting Pronouncements In October 2021, 2021 08, 805 2021 08 606, 2021 08 first 2023. 2021 08 not In June 2016, No. 2016 13, 326 December 15, 2022 2016 13 April 1, 2023 not 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 not |
Note 3 - Revenue
Note 3 - Revenue | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3 Revenue The following table represents a disaggregation of revenue from contracts with customers for the years ended March 31, 2024 2023 Year Ended March 31, 2024 2023 Revenue Membership services $ 66,182 $ 52,388 Advertising 43,729 35,143 Merchandising 8,271 10,830 Sponsorship and Licensing 126 429 Ticket/Event 132 821 Total Revenue $ 118,440 $ 99,611 For some contracts, the Company may not 606 10 50 14 not one For the years ended March 31, 2024 2023 one The following table summarizes the significant changes in contract liabilities (deferred revenue) balances during the years ended March 31, 2024 2023 Contract Liabilities Balance as of April 1, 2022 $ 1,157 Revenue recognized that was included in the contract liability at beginning of the year (506 ) Increase due to cash received, excluding amounts recognized as revenue during the year 341 Balance as of March 31, 2023 992 Revenue recognized that was included in the contract liability at beginning of the year (389 ) Increase due to cash received, excluding amounts recognized as revenue during the year 125 Balance as of March 31, 2024 $ 728 |
Note 4 - Business Combinations
Note 4 - Business Combinations | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 4 Business Combinations Gramophone On October 17, 2021, twelve 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 was to be paid to the seller of Gramophone if, during the period commencing June 1, 2021 May 31, 2022 ( not June 1, 2022 May 31, 2023 ( March 31, 2024 not 14 Goodwill resulted from acquisition as it is intended to augment and diversify the Company’s reportable segments. 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 The following table summarizes the fair value of the assets assumed in the Gramophone acquisition (in thousands): Amortization Period Asset Type (Years) 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 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 Property and Equipment The Company’s property and equipment at March 31, 2024 2023 As of March 31, 2024 2023 Property and equipment, net Computer, machinery, and software equipment $ 6,564 $ 6,501 Furniture and fixtures 556 556 Leasehold improvements 597 531 Capitalized internally developed software 18,109 14,662 Total property and equipment 25,826 22,250 Less accumulated depreciation and amortization (22,180 ) (18,925 ) Total property and equipment, net $ 3,646 $ 3,325 Depreciation and amortization expense was $3.3 million and $3.6 million for the years ended March 31, 2024 2023 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 Goodwill and Intangible Assets Goodwill The Company currently has three March 31, 2024 2023 Goodwill Balance as of April 1, 2022 $ 23,379 Acquisitions - Balance as of March 31, 2023 $ 23,379 Acquisitions - Balance as of March 31, 2024 $ 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, 2024 Tradenames Balance as of April 1, 2022 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2023 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2024 $ 4,637 Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of March 31, 2024 Gross Net Carrying Accumulated Carrying Value Amortization Value Software $ 19,281 $ 19,281 $ - Intellectual property (patents) 5,366 2,236 3,130 Customer relationships 6,570 6,570 - Content creator relationships 4,082 1,568 2,514 Domain names 523 190 333 Brand and trade names 1,071 439 632 Customer list 2,673 1,504 1,169 Total $ 39,566 $ 31,788 $ 7,778 The Company’s finite-lived intangible assets were as follows as of March 31, 2023 Gross Net Carrying Accumulated Carrying Value Amortization Value Software $ 19,281 $ 19,281 $ - Intellectual property (patents) 5,366 1,878 3,488 Customer relationships 6,570 6,570 - Content creator relationships 772 772 - Domain names 523 137 386 Brand and trade names 1,143 347 796 Customer list 2,767 1,039 1,728 Total $ 36,422 $ 30,024 $ 6,398 Intangible assets are amortized over their estimated useful lives based on the pattern in which the economic benefits associated with the asset are expected to be consumed, which to date has approximated the straight-line method of amortization. The estimated useful lives for patents, content creator relationships, domain names, tradename and customer list are generally three 15 one two two five seven ten three four The Company’s amortization expense on its finite-lived intangible assets was $1.8 million and $4.3 million for the years ended March 31, 2024 2023 $1.4 March 31, 2024 2023, March 31, 2024 March 31, 2023 Finder's Agreement In September 2023, third third March 31, 2024 third third The Company estimated future amortization expense on its finite-lived intangible assets as of March 31, 2024 For Years Ended March 31, 2025 $ 2,275 2026 1,910 2027 1,023 2028 508 2029 508 Thereafter 1,554 $ 7,778 |
Note 7 - Accounts Payable and A
Note 7 - Accounts Payable and Accrued Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 7 Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at March 31, 2024 2023 March 31, March 31, 2024 2023 Accounts payable $ 15,154 $ 10,960 Accrued liabilities 11,708 11,539 Lease liabilities, current 91 273 Total $ 26,953 $ 22,772 |
Note 8 - Notes Payable
Note 8 - Notes Payable | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Notes Payable [Text Block] | Note 8 Notes Payable The Company’s notes payable at March 31, 2024 2023 March 31, March 31, 2024 2023 SBA loan $ 160 $ 163 Capchase loan 1,303 - Total 1,463 163 Less: Current portion of Notes payable (692 ) (15 ) Notes payable - long term $ 771 $ 148 SBA Loan On June 17, 2020, 12 no Loan and Security Agreement In August 2023, February 4, 2026. Maturities of notes payables as of March 31, 2024 For Years Ending March 31, 2025 $ 692 2026 627 2027 4 2028 4 2029 4 Thereafter 132 Total $ 1,463 |
Note 9 - PodcastOne Bridge Loan
Note 9 - PodcastOne Bridge Loan | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 PodcastOne Bridge Loan PodcastOne ’ s Private Placement On July 15, 2022 ( “PC1 “PC1 PC1 “PC1 “PC1 PC1 one one three PC1 PC1 PC1 PC1 PC1 PC1 The Company also agreed (i) not no PC1 PC1 not February 15, 2023, March 15, 2023 April 15, 2023, PC1 PC1 tenth three PodcastOne further agreed to register the shares of its common stock issuable upon conversion of the PC1 PC1 not April 15, 2023, PC1 PC1 not July 15, 2023, PC1 PC1 not PC1 not April 15, 2023, PC1 On September 8, 2023, PC1 Warrants The PC1 PC1 PC1 PC1 September 8, 2023, The fair value of the PC1 820 July 15, 2022 Expected dividend yield - % Expected stock-price volatility 88.88 % Risk-free interest rate 3.02 % Simulated share price $ 5.33 Exercise price $ 5.22 The fair value of the PC1 820 September 8, March 31, 2023 2023 Expected dividend yield - % - % Expected stock-price volatility 71.10 % 71.50 % Risk-free interest rate 4.43 % 4.86 % Simulated share price $ 4.39 $ 2.54 Exercise price $ 3.00 $ 2.64 Total loss of $4.0 million and unrealized gain of $1.1 million for warrant liabilities accounted for as derivatives have been recorded in other expense for the year ended March 31, 2024 2023, September 8, 2023 March 31, 2023 March 31, 2024, none Redemption Features The Company determined that the redemption features associated with the PC1 PC1 three 1 2 3 The fair value of the redemption features are measured in accordance with ASC 820 March 31, 2023 Simulations 100,000 Expected stock-price volatility 71.50 % Risk-free interest rate 4.86 % Conversion price $ 2.54 Stock price $ 2.64 The fair value of the Redemption Liability was none at March 31, 2024 PC1 September 8, 2023 March 31, 2024. The fair value of the Redemption Liability of $1.1 million at July 15, 2022 March 31, 2023 March 31, 2023. The resulting discount from the OID, underwriting fees, PC1 July 15, 2023, March 31, 2024 2023 Interest expense with respect to the PC1 March 31, 2024 2023 no PC1 |
Note 10 - Senior Secured Revolv
Note 10 - Senior Secured Revolving Line of Credit | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Line of Credit [Text Block] | Note 10 Senior Secured Revolving Line of Credit On June 2, 2021, June 2, 2023. In July 2022, June 2024 Prime Rate March 31, 2024 On September 8, 2023 August 22, 2023, first On May 31, 2024 90 September 2024, 20. Borrowings under the ABL Credit Facility are subject to certain covenants as set forth in the New Business Loan Agreement and bear interest at a rate equal to the prime rate plus 2.50%, provided that it shall not may In connection with the New Business Loan Agreement, the Company’s current Promissory Note, dated as of June 2, 2021, August 22, 2023, The principal balance under the ABL Credit Facility as of March 31, 2024 2023 March 31, 2024 2023 March 31, 2024 |
Note 11 - Unsecured Convertible
Note 11 - Unsecured Convertible Notes | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Unsecured Notes [Text Block] | Note 11 Unsecured Convertible Notes As of March 31, 2022, The first February 21, 2017, first second March 31, 2014 April 8, 2015, first March 31, 2018 May 31, 2023 ( Between October 27, 2017 December 18, 2017, six March 31, 2018 May 31, 2023 ( March 31, 2023 2022, On August 11, 2021, May 31, 2023, 470 50, March 31, 2023. In July 2022, July 1, 2024, not 470 60 no not 470 50, 84.8%; The Company may not On February 3, 2023 ( September 15, 2020, June 3, 2021 July 6, 2022, September 15, 2020, June 3, 2021 July 6, 2022, $1,000 February 2, 2023 In consideration for entry into the Exchange Agreements and the Holders’ willingness to forego certain rights to common stock of the Company previously agreed by the parties, the Company issued to the Harvest Funds an aggregate of 625,000 shares of its common stock (the “Harvest Shares”) and to Trinad Capital 200,000 shares of its common stock. In connection with the entry of the Exchange Agreements, unless otherwise agreed to by the Harvest Funds, Mr. Ellin agreed to (i) to serve as the Company’s Chief Executive Officer and (ii) extend the period during which he cannot dispose of any equity or convertible securities of the Company owned by him or any entity of which he is the beneficial owner and not no The Company evaluated the Amendment Agreement and the settlement was required to be accounted for as an extinguishment under ASC 470 50, March 31, 2023. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 12 Related Party Transactions As of March 31, 2022, February 2023, December 31, 2023. April 2023 July 2023, On September 8, 2023, December 31, 2023. During the years ended March 31, 2024 2023, none March 31, 2024 2023, During the years ended March 31, 2024 2023, During the year ended March 31, 2024, |
Note 13 - Leases
Note 13 - Leases | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 13 Leases On December 22, 2020, June 30, 2024. The Company leases several office locations with lease terms that are less than 12 $0.2 March 31, 2024 2023, 12 March 31, 2024 2023 Operating lease costs for the years ended March 31, 2024 2023 Year Ended March 31, 2024 2023 Fixed rent cost $ 324 $ 490 Short term lease cost 596 141 Total operating lease cost $ 920 $ 631 Supplemental balance sheet information related to leases was as follows (in thousands): March 31, March 31, Operating leases 2024 2023 Operating lease right-of-use assets $ 88 $ 423 Operating lease liability, current $ 91 $ 273 Operating lease liability, noncurrent - 161 Total operating lease liabilities $ 91 $ 434 The operating lease right-of-use assets are included in other assets in the March 31, 2024 2023 March 31, 2024 2023 Future maturities of operating lease liabilities as of March 31, 2024 For Years Ending March 31, 2025 $ 100 Total lease payments 100 Less: imputed interest (9 ) Present value of operating lease liabilities $ 91 Significant determinations 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 Options – the lease term is the minimum noncancelable period of the lease. The Company does not Lease and non-lease components – Non lease components were considered and determined not PodcastOne arrangement PodcastOne leases certain premises under a month-to-month operating lease. Rent expense for the operating lease totaled $0.3 million and $0.3 million for the year ended March 31, 2024 March 31, 2023 |
Note 14 - Other Long-term Liabi
Note 14 - Other Long-term Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 14 Other Long-Term Liabilities Other long-term liabilities consisted of the following (in thousands): March 31, March 31, 2024 2023 Contingent consideration from Gramophone acquisition $ - $ 174 Accrued royalties 7,508 3,788 Accrued legal - 5,616 Accrued sales tax 1,706 - Other 140 - Total other long-term liabilities $ 9,354 $ 9,578 The Company classified $7.5 million and $3.8 million of accrued royalties into long term based on contractual arrangements with the royalty holders for the year ended March 31, 2024 2023, 15 March 31, 2023. March 31, 2024 no no March 31, 2024. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 15 Commitments and Contingencies Contractual Obligations As of March 31, 2024 March 31, 2025, 2026, 2027 2028, 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 of time is the period that the minimum guarantee relates to, as specified in each agreement, which may 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, which included payments to be made in common stock. 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, 2024 not On August 4, 2022, March 31, 2024 no not one In addition, the Company entered into additional arrangements with vendors to settle outstanding amounts owed in exchange for a cumulative amount of 597,918 shares of common stock with a fair value of $0.4 million. The fair value of the shares was determined to be $0.4 million based on the Company’s share price at the date the shares were issued. Employment Arrangements As of March 31, 2024 two 16 The Company’s CEO agreed to forgive his salary of $0.5 million per annum for the period from August 2021 December 31, 2022 March 31, 2024, not Legal Proceedings On April 10, 2018, 2016, May 5, 2017 ( June 26, 2018, may December 31, 2022, April May 2023. May 2023, November 22, 2018, June 29, 2018 February 2024, During each of the quarters ended March 31, 2024 2023 third not 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 not not |
Note 16 - Employee Benefit Plan
Note 16 - Employee Benefit Plan | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 16 Employee Benefit Plan The Company sponsors a 401 “401 March 31, 2019, 401 401 first may 401 March 31, 2024 2023 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 17 Stockholders Equity Authorized Common Stock and Authority to Create 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, $0.001 par value per share, and 10,000,000 shares of the Company’s preferred stock, $0.001 par value per share (the “preferred stock”). The Company may one no may not It is not may Stock Repurchase Program In December 2020, two November 2022, may no may not may March 31, 2024 2023 March 31, 2024, Series A Preferred Stock The Series A Preferred Stock is convertible at any time at a Holder’s option into shares of the Company’s common stock, at a price of $2.10 per share of common stock, bears a dividend of 12% per annum, is perpetual and has no February 3, 2024, no The Company may, August 3, 2024 ( not x Pursuant to the Exchange Agreements, the Company agreed that at any time that any of the shares of Series A Preferred Stock issued to the Harvest Funds are outstanding, (i) to directly or through its 100% 66% not not third not one one February 3, 2023 ( not February 3, 2023 five no In accordance with ASC 480, 18 not March 31, 2024 2023, In accordance with ASC 480, not not 815. not Each share of Series A Preferred Stock is entitled to receive cumulative dividends payable at a rate per annum of 12% of the Stated Value. Issuance of Restricted Shares of Common Stock for Services to Consultants and Vendors During the year ended March 31, 2024 2023, not 2016 The Company’s board of directors and stockholders approved the Company’s 2016 “2016 September 17, 2020, 2016 June 30, 2021. 2016 not 162 1986, 2016 2016 The Company recognized share-based compensation expense of $7.9 million and $3.0 million during the years ended March 31, 2024 2023 none March 31, 2024 2023 Share-based compensation expense during the year ended March 31, 2024 2023 March 31, 2022. The maximum contractual term for awards is 10 years. As of March 31, 2024 2016 PodcastOne 2022 On December 15, 2022, 2022 “2022 2022 not 162 2022 2022 As of March 31, 2024, 2022 none March 31, 2024. March 31, 2024, Non-Controlling Interest On September 8, 2023, 810, March 31, 2024. PC1 PC1 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 ten As of March 31, 2024 The following table provides information about our option grants made to employees during the last two 2016 Year Ended March 31, 2024 2023 Number of options granted 25,000 43,000 Weighted-average exercise price per share $ 1.75 $ 1.10 Weighted-average grant date fair value per share $ 1.75 $ 1.10 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, 2024 2023 Expected volatility 88.57 % 78.20% - 83.10% Dividend yield - % - % Risk-free rate 4.12 % 3.11% - 3.14% Expected term (in years) 5.18 5.36 - 6.94 The following table summarizes the activity of our options issued under the 2016 March 31, 2024 2023 Weighted-Average Exercise Price per Number of Shares Share Outstanding as of April 1, 2022 3,565,191 $ 3.78 Granted 43,000 1.10 Forfeited or expired (1,191,524 ) 3.71 Outstanding as of March 31, 2023 2,416,667 3.75 Granted 25,000 1.75 Exercised (10,000 ) 0.81 Forfeited or expired (165,000 ) 3.88 Outstanding as of March 31, 2024 2,266,667 $ 3.73 Exercisable as of March 31, 2024 2,224,167 $ 3.74 The weighted-average remaining contractual term for options to employees outstanding and options to employees exercisable as of March 31, 2024 none, March 31, 2024 none none, March 31, 2024 2023 The fair value of stock options that were exercised during the year ended March 31, 2024 2023 March 31, 2024 2023 $4.0 March 31, 2024 March 31, 2023 Options Grants to Non-Employees As of March 31, 2024 no no two The following table summarizes the activity of our options issued to non-employees under the 2016 March 31, 2024 2023 Weighted-Average Exercise Price per Number of Shares Share Outstanding as of April 1, 2022 25,000 $ 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2023 25,000 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2024 25,000 $ 4.00 Exercisable as of March 31, 2024 25,000 $ 4.00 The weighted average remaining contractual term for options to non-employees outstanding as of March 31, 2024 none March 31, 2024 Restricted Stock Units Grants As of March 31, 2024 The following table provides information about our restricted stock units grants made to employees during the last two Year Ended March 31, 2024 2023 Number of units granted 2,075,756 1,172,380 Weighted-average grant date fair value per share $ 1.71 $ 1.73 The following table summarizes the activity of our restricted stock units under the 2016 March 31, 2024 2023 Number of Shares Outstanding as of April 1, 2022 3,064,285 Granted 1,172,380 Vested (2,136,679 ) Cancelled (429,011 ) Outstanding as of March 31, 2023 1,670,975 Granted 2,075,756 Vested (1,850,576 ) Cancelled (50,000 ) Outstanding as of March 31, 2024 1,846,155 The fair value of restricted stock units that vested during the year ended March 31, 2024 2023 March 31, 2024 2023 |
Note 18 - Income Tax Provision
Note 18 - Income Tax Provision | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 18 Income Tax Provision 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, 2024 2023 Loss before income taxes: Domestic $ (13,193 ) $ (9,954 ) Foreign - - Total loss before income taxes $ (13,193 ) $ (9,954 ) The provision for income taxes consisted of the following: Current U.S. Federal $ - $ - State 111 70 Foreign - - Total Current 111 70 Deferred: U.S. Federal (2 ) 2 State 9 (7 ) Foreign - - Total Deferred 7 (5 ) Total provision for income taxes $ 118 $ 65 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, 2024 2023 Income taxes computed at Federal statutory rate $ (2,777 ) $ (2,056 ) State tax — net of federal benefit 156 (9 ) Nondeductible expenses 1,021 1,292 PodcastOne distribution 2,601 - Federal NOL true-up (3,166 ) - Change in tax rates 107 86 Change in valuation allowance 1,764 228 Stock compensation 328 371 Other 84 153 Total provision for income taxes $ 118 $ 65 At March 31, 2024 2028. March 31, 2018 20 80% The Company obtained $133.9 million and $1.5 million of federal net operating loss and credit carryforwards, respectively, and $104.2 million and $1.7 million of state net operating loss and credit carryforwards, respectively, through the acquisition of Slacker, Inc. in December 2017. 382 383 March 31, 2018 382 March 31, 2024 may 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 2018 2017 The Company’s policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of March 31, 2024 2023 not Significant components of the Company’s deferred income tax assets and (liabilities) are as follows as of (in thousands): Year Ended March 31, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 36,781 $ 35,760 Property and equipment - 64 Research and development 1,195 Accruals and reserves 1,821 1,393 Stock compensation 3,520 3,187 163 (j) interest expense carryforwards 784 2,000 Charitable contribution carryforward 8 18 Gross deferred tax assets 44,109 42,422 Deferred tax liabilities: Right of use asset (151 ) (107 ) Property and equipment (575 ) - Intangible assets (1,938 ) (2,627 ) Net deferred tax assets 41,445 39,688 Valuation allowance (41,784 ) (40,020 ) Net deferred tax liability $ (339 ) $ (332 ) 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 March 31, 2024 2023 March 31, 2024 |
Note 19 - Business Segments and
Note 19 - Business Segments and Geographic Reporting | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 19 Business Segments and Geographic Reporting The Company determined its operating segments in accordance with ASC 280, 280” Beginning in the second 2024, three three The Company’s three Customers The Company has one 10% March 31, 2024 2023 March 31, 2024 2023 Segment and Geographic Information The Company’s operations are 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, of which $0.3 million resides in PodcastOne, $2.9 million in Slacker and $0.4 million is attributed to our Media Group. The Company manages its working capital on a consolidated basis. Accordingly, segment assets are not not The following table presents the results of operations for the Company's reportable segments for the years ended March 31, 2024 2023 Year Ended March 31, 2024 PodcastOne Slacker Media Corporate expenses Total Revenue $ 43,302 $ 65,959 $ 9,179 $ - $ 118,440 Net income (loss) $ (14,732 ) $ 13,382 $ (1,397 ) $ (10,564 ) $ (13,311 ) Year Ended March 31, 2023 PodcastOne Slacker Media Corporate expenses Total Revenue $ 34,645 $ 52,203 $ 12,763 $ - $ 99,611 Net income (loss) $ (6,967 ) $ 9,186 $ (2,800 ) $ (9,438 ) $ (10,019 ) |
Note 20 - Fair Value Measuremen
Note 20 - Fair Value Measurements | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 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, 2024 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Assets: Prepaid expenses - common stock issued subject to market adjustment at settlement $ - $ - $ - $ - Total $ - $ - $ - $ - Liabilities: Bifurcated embedded derivative on Series A Preferred Stock $ 607 $ - $ - $ 607 $ 607 $ - $ - $ 607 March 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Assets: Prepaid expenses - common stock issued subject to market adjustment at settlement $ 140 $ 140 $ - $ - Total $ 140 $ 140 $ - $ - Liabilities: Contingent consideration liability from Gramophone acquisition $ 174 $ - $ - $ 174 Warrant liability on PodcastOne bridge loan 1,860 - - 1,860 Bifurcated embedded derivative on PodcastOne bridge loan 1,288 - - 1,288 Bifurcated embedded derivative on Series A Preferred Stock 376 - - 376 $ 3,698 $ - $ - $ 3,698 The following table presents a reconciliation of the Company’s financial liabilities that are measured at Level 3 Amount Balance as of April 1, 2022 $ 3,157 Embedded derivative and warrant issued in connection with PodcastOne bridge loan 2,845 Embedded derivative and warrant issued in connection with Series A Preferred Stock 173 Settlement of PodcastOne contingent consideration (3,000 ) Change in fair value of bifurcated embedded derivatives, reported in earnings 523 Balance as of March 31, 2023 $ 3,698 Change in fair value of bifurcated embedded derivatives, reported in earnings 4,460 Conversion of embedded derivatives to equity (1,481 ) Conversion of warrant liability to non-controlling interest (5,896 ) Change in fair value of contingent consideration liabilities, reported in earnings (174 ) Balance as of March 31, 2024 $ 607 The settlement of the PodcastOne contingent consideration of $3.0 million consisted of 414,137 shares of the Company's common stock issued to the Company with a fair value of $0.5 million, cash payment of $0.3 million and a gain of $2.2 million attributed to the former owners of PodcastOne forgiving the remaining balance of $2.2 million. The Company did not March 31, 2023 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: PodcastOne bridge loan $ 4,726 $ - $ - $ 9,152 The fair values of financial instruments not March 31, 2024 March 31, 2023 Cash equivalents and restricted cash equivalents primarily consisted of short-term interest-bearing money market funds with maturities of less than 90 Due to their short maturity, the carrying amounts of the Company’s accounts receivable, accounts payable and accrued expenses approximated their fair values as of March 31, 2024 March 31, 2023 The Company’s notes payable and senior secured line of credit are not |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 12 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 21 Subsequent Events Subsequent to March 31, 2024 July1, 2024, On April 1, 2024 ( three In addition, pursuant to the Agreements, the Harvest Funds agreed ( x August 3, 2024. The Company further agreed, on or prior to the date that is 45 July 1, 2024, 3 45 90 three On May 14, 2024, may may not may 3 No. 333 262549 The Company agreed to pay Roth Capital a commission equal to 3.0% of the gross sales price per share for any Shares sold through Roth Capital under the Sales Agreement and reimburse Roth Capital’s fees and expenses up to $50,000 in connection with entering into the Sales Agreement, in addition to certain ongoing disbursements of their legal counsel. The Company has provided Roth Capital with customary indemnification and contribution rights. The Sales Agreement may On May 31, 2024, June 2, 2024 September 2, 2024. |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B. None. |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | 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. 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 [Policy Text Block] | 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 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 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 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. 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 30 Third-Party Original Equipment Manufacturers The Company generates revenue for membership services through memberships sold through a third 30 not Advertising Revenue Advertising revenue primarily consist of revenues generated from the sale of audio, video, and display advertising space to third third From time to time we enter into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized ratably over time based on the terms of the contract as delivery of impressions is performed on a consistent basis. Services received are charged to expense in the same manner. Total revenues related to barter transactions were $16.7 million and $8.4 million for the years ended March 31, 2024 March 31, 2023 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. We report our licensing revenue on a gross basis as we act as the principal in the underlying transactions. We report our licensing revenue on a gross basis as we act as the principal in the underlying transactions. 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 one 30 60 March 31, 2024 2023 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 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 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 |
Cost of Goods and Service [Policy Text Block] | 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, 2024 2023 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. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | 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 $0.2 million and $0.3 million for the years ended March 31, 2024 2023 |
Research and Development Expense, Policy [Policy Text Block] | 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 |
Share-Based Payment Arrangement [Policy Text Block] | 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 Tax, Policy [Policy Text Block] | 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 not |
Earnings Per Share, Policy [Policy Text Block] | 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 Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two two The treasury stock method is used to calculate the potentially dilutive effect of stock options and RSUs. The if-converted method is used to calculate the potentially dilutive effect of the Preferred Stock. In both methods, diluted net income (loss) attributable to common stockholders and diluted weighted-average shares outstanding are adjusted to account for the impact of the assumed issuance of potential common shares that are dilutive, subject to dilution sequencing rules. At March 31, 2024 2023 The following table is a reconciling basic and diluted earnings per share under the two Year Ended Year Ended In thousands, except per share amounts March 31, 2024 March 31, 2023 Net loss attributed to LiveOne $ (11,966 ) $ (10,019 ) Dividends on Series A Preferred Stock (2,749 ) (396 ) Net loss attributed to LiveOne $ (14,715 ) $ (10,415 ) Basic and diluted weighted average number of shares of common stock outstanding 87,617,392 84,772,708 Basic and diluted earnings per share $ (0.17 ) $ (0.12 ) |
Business Combinations Policy [Policy Text Block] | 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 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three 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 ( 2024 2023 Cash and cash equivalents $ 6,987 $ 8,409 Restricted cash 155 240 Total cash and cash equivalents and restricted cash $ 7,142 $ 8,649 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | 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 March 31, 2024 2023 |
Credit Loss, Financial Instrument [Policy Text Block] | Allowance for Credit Losses 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, 2024 2023 one The following table provides amounts included in accounts receivable, net for the fiscal years ended March 31 ( 2024 2023 Accounts receivable $ 14,260 $ 14,228 Less: Allowance for credit losses 1,055 570 Accounts receivable, net $ 13,205 $ 13,658 |
Inventory, Policy [Policy Text Block] | 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 first 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. |
Property, Plant and Equipment, Policy [Policy Text Block] | 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 (2 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. |
Internal Use Software, Policy [Policy Text Block] | 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 five March 31, 2024 2023 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | 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 not may not January 1 Our annual goodwill impairment test is performed at the reporting unit level. As of March 31, 2024 2023 three 21 first not not not March 31, 2024 2023 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 March 31, 2024 2023 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 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 not 2024 19 2023. March 31, 2024 2023, |
Deferred Charges, Policy [Policy Text Block] | 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 |
Fair Value Measurement, Policy [Policy Text Block] | 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 may three 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 March 31, 2024 2023 3 no |
Debt With Warrants [Policy Text Block] | Debt with Warrants In accordance with ASC Topic 470 20 25, |
Convertible Debt, Derivative Treatment [Policy Text Block] | Convertible Debt – Derivative Treatment When the Company issues debt with a conversion feature, we must first one one no not 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 appropriate valuation 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. |
Debt Modifications and Extinguishments [Policy Text Block] | Debt Modifications and Extinguishments When the Company modifies or extinguishes debt, it first 470 60, 1 2 not 470 50 40, If there is a conversion feature within the debt instrument, the Company evaluates whether the conversion feature should be bifurcated under ASC 815 no no not 470 50 40 10 470 20 25 not 470 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk The Company maintains cash balances at commercial banks. Cash balances commonly exceed the $250,000 not not |
Seasonality [Policy Text Block] | Seasonality Our CPS merchandising business is affected by seasonality, which typically results in higher sales volume during our third December 31. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In November 2023, 2023 07, 280 2024 In December 2023, 2023 09, 740 2023 09” 2023 09 2023 09 first 2026. 2023 09 Recently Adopted Accounting Pronouncements In October 2021, 2021 08, 805 2021 08 606, 2021 08 first 2023. 2021 08 not In June 2016, No. 2016 13, 326 December 15, 2022 2016 13 April 1, 2023 not 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 not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended Year Ended In thousands, except per share amounts March 31, 2024 March 31, 2023 Net loss attributed to LiveOne $ (11,966 ) $ (10,019 ) Dividends on Series A Preferred Stock (2,749 ) (396 ) Net loss attributed to LiveOne $ (14,715 ) $ (10,415 ) Basic and diluted weighted average number of shares of common stock outstanding 87,617,392 84,772,708 Basic and diluted earnings per share $ (0.17 ) $ (0.12 ) |
Schedule of Cash and Cash Equivalents [Table Text Block] | 2024 2023 Cash and cash equivalents $ 6,987 $ 8,409 Restricted cash 155 240 Total cash and cash equivalents and restricted cash $ 7,142 $ 8,649 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2024 2023 Accounts receivable $ 14,260 $ 14,228 Less: Allowance for credit losses 1,055 570 Accounts receivable, net $ 13,205 $ 13,658 |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended March 31, 2024 2023 Revenue Membership services $ 66,182 $ 52,388 Advertising 43,729 35,143 Merchandising 8,271 10,830 Sponsorship and Licensing 126 429 Ticket/Event 132 821 Total Revenue $ 118,440 $ 99,611 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Contract Liabilities Balance as of April 1, 2022 $ 1,157 Revenue recognized that was included in the contract liability at beginning of the year (506 ) Increase due to cash received, excluding amounts recognized as revenue during the year 341 Balance as of March 31, 2023 992 Revenue recognized that was included in the contract liability at beginning of the year (389 ) Increase due to cash received, excluding amounts recognized as revenue during the year 125 Balance as of March 31, 2024 $ 728 |
Note 4 - Business Combinations
Note 4 - Business Combinations (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Fair Value of Consideration Transferred: Cash $ 150 Common stock 89 Contingent consideration 174 Total $ 413 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Amortization Period Asset Type (Years) 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 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of March 31, 2024 2023 Property and equipment, net Computer, machinery, and software equipment $ 6,564 $ 6,501 Furniture and fixtures 556 556 Leasehold improvements 597 531 Capitalized internally developed software 18,109 14,662 Total property and equipment 25,826 22,250 Less accumulated depreciation and amortization (22,180 ) (18,925 ) Total property and equipment, net $ 3,646 $ 3,325 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Goodwill Balance as of April 1, 2022 $ 23,379 Acquisitions - Balance as of March 31, 2023 $ 23,379 Acquisitions - Balance as of March 31, 2024 $ 23,379 |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | Tradenames Balance as of April 1, 2022 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2023 $ 4,637 Acquisitions - Impairment losses - Balance as of March 31, 2024 $ 4,637 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Net Carrying Accumulated Carrying Value Amortization Value Software $ 19,281 $ 19,281 $ - Intellectual property (patents) 5,366 2,236 3,130 Customer relationships 6,570 6,570 - Content creator relationships 4,082 1,568 2,514 Domain names 523 190 333 Brand and trade names 1,071 439 632 Customer list 2,673 1,504 1,169 Total $ 39,566 $ 31,788 $ 7,778 Gross Net Carrying Accumulated Carrying Value Amortization Value Software $ 19,281 $ 19,281 $ - Intellectual property (patents) 5,366 1,878 3,488 Customer relationships 6,570 6,570 - Content creator relationships 772 772 - Domain names 523 137 386 Brand and trade names 1,143 347 796 Customer list 2,767 1,039 1,728 Total $ 36,422 $ 30,024 $ 6,398 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For Years Ended March 31, 2025 $ 2,275 2026 1,910 2027 1,023 2028 508 2029 508 Thereafter 1,554 $ 7,778 |
Note 7 - Accounts Payable and_2
Note 7 - Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | March 31, March 31, 2024 2023 Accounts payable $ 15,154 $ 10,960 Accrued liabilities 11,708 11,539 Lease liabilities, current 91 273 Total $ 26,953 $ 22,772 |
Note 8 - Notes Payable (Tables)
Note 8 - Notes Payable (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, March 31, 2024 2023 SBA loan $ 160 $ 163 Capchase loan 1,303 - Total 1,463 163 Less: Current portion of Notes payable (692 ) (15 ) Notes payable - long term $ 771 $ 148 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | For Years Ending March 31, 2025 $ 692 2026 627 2027 4 2028 4 2029 4 Thereafter 132 Total $ 1,463 |
Note 9 - PodcastOne Bridge Lo_2
Note 9 - PodcastOne Bridge Loan (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | July 15, 2022 Expected dividend yield - % Expected stock-price volatility 88.88 % Risk-free interest rate 3.02 % Simulated share price $ 5.33 Exercise price $ 5.22 September 8, March 31, 2023 2023 Expected dividend yield - % - % Expected stock-price volatility 71.10 % 71.50 % Risk-free interest rate 4.43 % 4.86 % Simulated share price $ 4.39 $ 2.54 Exercise price $ 3.00 $ 2.64 March 31, 2023 Simulations 100,000 Expected stock-price volatility 71.50 % Risk-free interest rate 4.86 % Conversion price $ 2.54 Stock price $ 2.64 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended March 31, 2024 2023 Fixed rent cost $ 324 $ 490 Short term lease cost 596 141 Total operating lease cost $ 920 $ 631 March 31, March 31, Operating leases 2024 2023 Operating lease right-of-use assets $ 88 $ 423 Operating lease liability, current $ 91 $ 273 Operating lease liability, noncurrent - 161 Total operating lease liabilities $ 91 $ 434 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | For Years Ending March 31, 2025 $ 100 Total lease payments 100 Less: imputed interest (9 ) Present value of operating lease liabilities $ 91 |
Note 14 - Other Long-term Lia_2
Note 14 - Other Long-term Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Other Liabilities [Table Text Block] | March 31, March 31, 2024 2023 Contingent consideration from Gramophone acquisition $ - $ 174 Accrued royalties 7,508 3,788 Accrued legal - 5,616 Accrued sales tax 1,706 - Other 140 - Total other long-term liabilities $ 9,354 $ 9,578 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | Year Ended March 31, 2024 2023 Number of options granted 25,000 43,000 Weighted-average exercise price per share $ 1.75 $ 1.10 Weighted-average grant date fair value per share $ 1.75 $ 1.10 Year Ended March 31, 2024 2023 Number of units granted 2,075,756 1,172,380 Weighted-average grant date fair value per share $ 1.71 $ 1.73 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended March 31, 2024 2023 Expected volatility 88.57 % 78.20% - 83.10% Dividend yield - % - % Risk-free rate 4.12 % 3.11% - 3.14% Expected term (in years) 5.18 5.36 - 6.94 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted-Average Exercise Price per Number of Shares Share Outstanding as of April 1, 2022 3,565,191 $ 3.78 Granted 43,000 1.10 Forfeited or expired (1,191,524 ) 3.71 Outstanding as of March 31, 2023 2,416,667 3.75 Granted 25,000 1.75 Exercised (10,000 ) 0.81 Forfeited or expired (165,000 ) 3.88 Outstanding as of March 31, 2024 2,266,667 $ 3.73 Exercisable as of March 31, 2024 2,224,167 $ 3.74 Weighted-Average Exercise Price per Number of Shares Share Outstanding as of April 1, 2022 25,000 $ 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2023 25,000 4.00 Granted - - Exercised - - Forfeited or expired - - Outstanding as of March 31, 2024 25,000 $ 4.00 Exercisable as of March 31, 2024 25,000 $ 4.00 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Number of Shares Outstanding as of April 1, 2022 3,064,285 Granted 1,172,380 Vested (2,136,679 ) Cancelled (429,011 ) Outstanding as of March 31, 2023 1,670,975 Granted 2,075,756 Vested (1,850,576 ) Cancelled (50,000 ) Outstanding as of March 31, 2024 1,846,155 |
Note 18 - Income Tax Provision
Note 18 - Income Tax Provision (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended March 31, 2024 2023 Loss before income taxes: Domestic $ (13,193 ) $ (9,954 ) Foreign - - Total loss before income taxes $ (13,193 ) $ (9,954 ) The provision for income taxes consisted of the following: Current U.S. Federal $ - $ - State 111 70 Foreign - - Total Current 111 70 Deferred: U.S. Federal (2 ) 2 State 9 (7 ) Foreign - - Total Deferred 7 (5 ) Total provision for income taxes $ 118 $ 65 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended March 31, 2024 2023 Income taxes computed at Federal statutory rate $ (2,777 ) $ (2,056 ) State tax — net of federal benefit 156 (9 ) Nondeductible expenses 1,021 1,292 PodcastOne distribution 2,601 - Federal NOL true-up (3,166 ) - Change in tax rates 107 86 Change in valuation allowance 1,764 228 Stock compensation 328 371 Other 84 153 Total provision for income taxes $ 118 $ 65 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year Ended March 31, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 36,781 $ 35,760 Property and equipment - 64 Research and development 1,195 Accruals and reserves 1,821 1,393 Stock compensation 3,520 3,187 163 (j) interest expense carryforwards 784 2,000 Charitable contribution carryforward 8 18 Gross deferred tax assets 44,109 42,422 Deferred tax liabilities: Right of use asset (151 ) (107 ) Property and equipment (575 ) - Intangible assets (1,938 ) (2,627 ) Net deferred tax assets 41,445 39,688 Valuation allowance (41,784 ) (40,020 ) Net deferred tax liability $ (339 ) $ (332 ) |
Note 19 - Business Segments a_2
Note 19 - Business Segments and Geographic Reporting (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended March 31, 2024 PodcastOne Slacker Media Corporate expenses Total Revenue $ 43,302 $ 65,959 $ 9,179 $ - $ 118,440 Net income (loss) $ (14,732 ) $ 13,382 $ (1,397 ) $ (10,564 ) $ (13,311 ) Year Ended March 31, 2023 PodcastOne Slacker Media Corporate expenses Total Revenue $ 34,645 $ 52,203 $ 12,763 $ - $ 99,611 Net income (loss) $ (6,967 ) $ 9,186 $ (2,800 ) $ (9,438 ) $ (10,019 ) |
Note 20 - Fair Value Measurem_2
Note 20 - Fair Value Measurements (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2024 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Assets: Prepaid expenses - common stock issued subject to market adjustment at settlement $ - $ - $ - $ - Total $ - $ - $ - $ - Liabilities: Bifurcated embedded derivative on Series A Preferred Stock $ 607 $ - $ - $ 607 $ 607 $ - $ - $ 607 March 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Assets: Prepaid expenses - common stock issued subject to market adjustment at settlement $ 140 $ 140 $ - $ - Total $ 140 $ 140 $ - $ - Liabilities: Contingent consideration liability from Gramophone acquisition $ 174 $ - $ - $ 174 Warrant liability on PodcastOne bridge loan 1,860 - - 1,860 Bifurcated embedded derivative on PodcastOne bridge loan 1,288 - - 1,288 Bifurcated embedded derivative on Series A Preferred Stock 376 - - 376 $ 3,698 $ - $ - $ 3,698 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Amount Balance as of April 1, 2022 $ 3,157 Embedded derivative and warrant issued in connection with PodcastOne bridge loan 2,845 Embedded derivative and warrant issued in connection with Series A Preferred Stock 173 Settlement of PodcastOne contingent consideration (3,000 ) Change in fair value of bifurcated embedded derivatives, reported in earnings 523 Balance as of March 31, 2023 $ 3,698 Change in fair value of bifurcated embedded derivatives, reported in earnings 4,460 Conversion of embedded derivatives to equity (1,481 ) Conversion of warrant liability to non-controlling interest (5,896 ) Change in fair value of contingent consideration liabilities, reported in earnings (174 ) Balance as of March 31, 2024 $ 607 |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | March 31, 2023 Carrying Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: PodcastOne bridge loan $ 4,726 $ - $ - $ 9,152 |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | May 14, 2024 | |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | $ 7,142,000 | $ 8,649,000 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (13,311,000) | $ (10,019,000) | |
Working Capital | (22,500,000) | ||
Potential Financing Amount | $ 150,000,000 | ||
Subsequent Event [Member] | Roth Capital [Member] | |||
Sale of Stocks, Maximum Amount Authorized to Sell | $ 25,000,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 118,440 | $ 99,611 |
Customer Refund Liability, Current | 100 | 100 |
Accrued Royalties | 18,400 | 16,600 |
Advertising Expense | $ 200 | $ 300 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | shares | 2,266,667 | 2,416,667 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | shares | 0 | |
Restricted Cash, Current | $ 155 | $ 240 |
Capitalized Computer Software, Additions | $ 3,400 | $ 2,400 |
Number of Operating Segments | 3 | 3 |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Impairment of Intangible Assets, Finite-Lived | $ 115 | 1,356 |
Intellectual Property [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |
Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |
Noncompete Agreements [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |
Trademarks and Trade Names [Member] | ||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 0 | $ 0 |
Minimum [Member] | ||
Capitalized Computer Software, Useful Life (Year) | 3 years | |
Minimum [Member] | Content Creator and Wholesale Relationships [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | |
Minimum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |
Maximum [Member] | ||
Capitalized Computer Software, Useful Life (Year) | 5 years | |
Maximum [Member] | Content Creator and Wholesale Relationships [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years | |
Maximum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |
Building Improvements [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Computer Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Computer Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number of Major Customers | 1 | 1 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 42% | 32% |
Restricted Stock Units (RSUs) [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares) | shares | 1,846,245 | 1,670,975 |
Barter Transactions [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 16,700 | $ 8,400 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss attributed to LiveOne | $ (11,966) | $ (10,019) |
Dividends on Series A Preferred Stock | (2,749) | (396) |
Net loss attributed to LiveOne | $ (14,715) | $ (10,415) |
Basic and diluted weighted average number of shares of common stock outstanding (in shares) | 87,617,392 | 84,772,708 |
Basic and diluted earnings per share (in dollars per share) | $ (0.17) | $ (0.12) |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Cash and cash equivalents | $ 6,987 | $ 8,409 |
Restricted cash | 155 | 240 |
Total cash and cash equivalents and restricted cash | $ 7,142 | $ 8,649 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Accounts receivable | $ 14,260 | $ 14,228 |
Less: Allowance for credit losses | 1,055 | 570 |
Accounts receivable, net | $ 13,205 | $ 13,658 |
Note 3 - Revenue (Details Textu
Note 3 - Revenue (Details Textual) - Customer Concentration Risk [Member] - Revenue Benchmark [Member] | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Number of Major Customers | 1 | 1 |
One Customer [Member] | ||
Concentration Risk, Percentage | 51% | 44% |
Note 3 - Revenue - Disaggregati
Note 3 - Revenue - Disaggregation of Revenues (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Total Revenue | $ 118,440 | $ 99,611 |
Membership Services [Member] | ||
Total Revenue | 66,182 | 52,388 |
Advertising [Member] | ||
Total Revenue | 43,729 | 35,143 |
Merchandising Revenue [Member] | ||
Total Revenue | 8,271 | 10,830 |
Sponsorship and Licensing [Member] | ||
Total Revenue | 126 | 429 |
Ticket or Event Revenue [Member] | ||
Total Revenue | $ 132 | $ 821 |
Note 3 - Revenue - Schedule of
Note 3 - Revenue - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 992 | $ 1,157 |
Revenue recognized that was included in the contract liability at beginning of the year | (389) | (506) |
Increase due to cash received, excluding amounts recognized as revenue during the year | 125 | 341 |
Balance | $ 728 | $ 992 |
Note 4 - Business Combination_2
Note 4 - Business Combinations (Details Textual) - Gramophone Acquisition [Member] $ in Thousands | Oct. 17, 2021 USD ($) shares |
Business Acquisition, Percentage of Voting Interests Acquired | 100% |
Business Combination, Consideration Transferred | $ 413 |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 79,365 |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 89 |
Business Combination, Consideration Transferred, Liabilities Incurred | 174 |
Payments to Acquire Businesses, Gross | 150 |
Business Combination, Contingent Consideration Arrangements, First Year Revenue Target | 1,400 |
Business Combination, Contingent Consideration Arrangements, First Year EBITDA Target | 300 |
Business Combination, Contingent Consideration Arrangements, Second Year Revenue Target | 2,000 |
Business Combination, Contingent Consideration Arrangements, Second Year EBITDA Target | 500 |
Cash Earnout [Member] | |
Business Combination, Contingent Consideration, Liability | $ 300 |
Measurement Input, Discount for Lack of Marketability [Member] | |
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.25 |
Note 4 - Business Combination_3
Note 4 - Business Combinations - Summary of Business Combinations (Details) - Gramophone Acquisition [Member] $ in Thousands | Oct. 17, 2021 USD ($) |
Cash | $ 150 |
Common stock | 89 |
Contingent consideration | 174 |
Total | $ 413 |
Note 4 - Business Combination_4
Note 4 - Business Combinations - Schedule of Assets Acquired (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Oct. 17, 2021 |
Goodwill | $ 23,379 | $ 23,379 | $ 23,379 | |
Gramophone Acquisition [Member] | ||||
Cash and cash equivalents | $ 4 | |||
Accounts receivable | 4 | |||
Goodwill | 459 | |||
Deferred revenue | (51) | |||
Deferred tax liability | (41) | |||
Accrued liabilities | (129) | |||
Net assets acquired | $ 413 | |||
Gramophone Acquisition [Member] | Trade Names [Member] | ||||
Useful Life (Year) | 5 years | |||
Finite-Lived Intangibles | $ 73 | |||
Gramophone Acquisition [Member] | Customer Lists [Member] | ||||
Useful Life (Year) | 2 years | |||
Finite-Lived Intangibles | $ 94 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Depreciation | $ 3.3 | $ 3.6 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Total property and equipment | $ 25,826 | $ 22,250 |
Less accumulated depreciation and amortization | (22,180) | (18,925) |
Total property and equipment, net | 3,646 | 3,325 |
Computer Equipment [Member] | ||
Total property and equipment | 6,564 | 6,501 |
Furniture and Fixtures [Member] | ||
Total property and equipment | 556 | 556 |
Leasehold Improvements [Member] | ||
Total property and equipment | 597 | 531 |
Software and Software Development Costs [Member] | ||
Total property and equipment | $ 18,109 | $ 14,662 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Sep. 30, 2023 | |
Amortization of Intangible Assets | $ 1,815 | $ 4,342 | |
Impairment of Intangible Assets (Excluding Goodwill) | 115 | 1,356 | |
Intangible Assets, Net (Excluding Goodwill) | 12,415 | $ 11,035 | |
Cost Capitalized to Content Creator Relationship Intangibles [Member] | |||
Shares Issued, Price Per Share (in dollars per share) | $ 8 | ||
Intangible Assets, Net (Excluding Goodwill) | 3,200 | ||
Payments for Capitalized Prepayments With Stock | $ 1,800 | ||
Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
Patents [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||
Patents [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
Content Creator Relationships [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | ||
Content Creator Relationships [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | ||
Domain Names [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | ||
Domain Names [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | ||
Trade Names [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | ||
Trade Names [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | ||
Customer Lists [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||
Customer Lists [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 4 years |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 23,379 | $ 23,379 |
Acquisitions | 0 | 0 |
Balance | $ 23,379 | $ 23,379 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets - Schedule of Indefinite Lived Intangible Assets (Details) - Trade Names [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 4,637 | $ 4,637 |
Acquisitions | 0 | 0 |
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | 0 | 0 |
Balance as of March 31, 2024 | $ 4,637 | $ 4,637 |
Note 6 - Goodwill and Intangi_6
Note 6 - Goodwill and Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Finite lived intangible assets, gross | $ 39,566 | $ 36,422 |
Finite lived intangible assets, accumulated amortization | 31,788 | 30,024 |
Finite lived intangible assets, net | 7,778 | 6,398 |
Computer Software, Intangible Asset [Member] | ||
Finite lived intangible assets, gross | 19,281 | 19,281 |
Finite lived intangible assets, accumulated amortization | 19,281 | 19,281 |
Finite lived intangible assets, net | 0 | 0 |
Intellectual Property [Member] | ||
Finite lived intangible assets, gross | 5,366 | 5,366 |
Finite lived intangible assets, accumulated amortization | 2,236 | 1,878 |
Finite lived intangible assets, net | 3,130 | 3,488 |
Customer Relationships [Member] | ||
Finite lived intangible assets, gross | 6,570 | 6,570 |
Finite lived intangible assets, accumulated amortization | 6,570 | 6,570 |
Finite lived intangible assets, net | 0 | 0 |
Content Creator Relationships [Member] | ||
Finite lived intangible assets, gross | 4,082 | 772 |
Finite lived intangible assets, accumulated amortization | 1,568 | 772 |
Finite lived intangible assets, net | 2,514 | 0 |
Domain Names [Member] | ||
Finite lived intangible assets, gross | 523 | 523 |
Finite lived intangible assets, accumulated amortization | 190 | 137 |
Finite lived intangible assets, net | 333 | 386 |
Trade Names [Member] | ||
Finite lived intangible assets, gross | 1,071 | 1,143 |
Finite lived intangible assets, accumulated amortization | 439 | 347 |
Finite lived intangible assets, net | 632 | 796 |
Customer Lists [Member] | ||
Finite lived intangible assets, gross | 2,673 | 2,767 |
Finite lived intangible assets, accumulated amortization | 1,504 | 1,039 |
Finite lived intangible assets, net | $ 1,169 | $ 1,728 |
Note 6 - Goodwill and Intangi_7
Note 6 - Goodwill and Intangible Assets - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
2025 | $ 2,275 | |
2026 | 1,910 | |
2027 | 1,023 | |
2028 | 508 | |
2029 | 508 | |
Thereafter | 1,554 | |
Finite-Lived Intangible Assets, Net | $ 7,778 | $ 6,398 |
Note 7 - Accounts Payable and_3
Note 7 - Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Accounts payable | $ 15,154 | $ 10,960 |
Accrued liabilities | 11,708 | 11,539 |
Lease liabilities, current | 91 | 273 |
Total | $ 26,953 | $ 22,772 |
Note 8 - Notes Payable (Details
Note 8 - Notes Payable (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Jun. 17, 2020 | Aug. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jul. 31, 2022 | |
Proceeds from Notes Payable | $ 1,700,000 | $ 0 | |||
Revolving Credit Facility [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | ||||
Capchase [Member] | Subordinated Debt [Member] | Revolving Credit Facility [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 9% | ||||
Debt Instrument, Face Amount | $ 1,700,000 | ||||
Debt Instrument, Periodic Payment | $ 73,100 | ||||
SBA Loan [Member] | |||||
Proceeds from Notes Payable | $ 200,000 | ||||
Debt Instrument, Term (Year) | 30 years | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% |
Note 8 - Notes Payable - Schedu
Note 8 - Notes Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Total notes payable | $ 1,463 | $ 163 |
Less: Current portion of Notes payable | (692) | (15) |
Notes payable - long term | 771 | 148 |
SBA Loan [Member] | ||
Total notes payable | 160 | 163 |
Capchase [Member] | ||
Total notes payable | $ 1,303 | $ 0 |
Note 8 - Notes Payable - Maturi
Note 8 - Notes Payable - Maturities of Note Payable (Details) - Notes Payable, Other Payables [Member] $ in Thousands | Mar. 31, 2024 USD ($) |
2025 | $ 692 |
2026 | 627 |
2027 | 4 |
2028 | 4 |
2029 | 4 |
Thereafter | 132 |
Total | $ 1,463 |
Note 9 - PodcastOne Bridge Lo_3
Note 9 - PodcastOne Bridge Loan (Details Textual) - USD ($) | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 08, 2023 | Jul. 15, 2022 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 15, 2023 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||
Bridge Loan | $ 0 | $ 4,726,000 | $ 0 | $ 4,726,000 | |||
Redemption Liability [Member] | |||||||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | $ 1,100,000 | 0 | 1,200,000 | 0 | 1,200,000 | ||
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss) | (200,000) | 100,000 | |||||
Derivative Liability, Subject to Master Netting Arrangement, after Offset | $ 2,800,000 | 2,800,000 | |||||
Interest Expense, Operating and Nonoperating | $ 1,100,000 | 1,700,000 | |||||
PC1 Note Warrants [Member] | |||||||
Warrants and Rights Outstanding | $ 5,900,000 | $ 1,700,000 | $ 1,900,000 | 1,900,000 | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,114,000 | 3,114,000 | 3,114,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | ||||||
Fair Value Adjustment of Warrants | $ 4,000,000 | 1,100,000 | |||||
PC1 Note Warrants [Member] | Redeemed Prior to Initial Maturity [Member] | |||||||
Warrant and Rights Outstanding, Monte Carlo Simulation Weights | 65% | 65% | |||||
PC1 Note Warrants [Member] | Redemption at Initial Maturity [Member] | |||||||
Warrant and Rights Outstanding, Monte Carlo Simulation Weights | 25% | 25% | |||||
PC1 Note Warrants [Member] | Redemption After the Initial Maturity [Member] | |||||||
Warrant and Rights Outstanding, Monte Carlo Simulation Weights | 10% | 10% | |||||
PodcastOne [Member] | |||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | ||||||
PC1 Notes [Member] | |||||||
Debt Instrument, Discount Percentage | 10% | ||||||
Debt Instrument, Face Amount | $ 8,800,000 | ||||||
Proceeds from Issuance of Debt | $ 8,000,000 | ||||||
Debt Instrument, Term (Year) | 1 year | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | $ 60,000,000 | ||||||
Debt Instrument, Convertible, Percent of Offering Price | 70% | ||||||
Debt Instrument, Convertible, Percentage of Listing Price | 70% | ||||||
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 45% | ||||||
Debt Instrument, Redemption Amount | $ 3,000,000 | ||||||
Debt Instrument, Maximum Percentage of Equity Ownable | 66% | ||||||
Debt Instrument, Periodic Redemption | $ 1,000,000 | ||||||
Debt Instrument, Prepayment Costs | 3,000,000 | ||||||
Interest Expense, Operating and Nonoperating | $ 200,000 | $ 400,000 | |||||
PC1 Notes [Member] | Conversion of Debt Upon Completing a Qualified Event [Member] | |||||||
Debt Conversion, Converted Instrument, Amount | $ 7,020,000 | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 2,341,000 | ||||||
PC1 Notes [Member] | Intersegment Eliminations [Member] | |||||||
Bridge Loan | $ 3,000,000 | ||||||
PC1 Notes [Member] | Other Note Holders [Member] | |||||||
Debt Instrument, Prepayment Costs | 1,000,000 | ||||||
PC1 Notes [Member] | Reg St Redemption [Member] | |||||||
Debt Instrument, Prepayment Costs | $ 2,000,000 |
Note 9 - PodcastOne Bridge Lo_4
Note 9 - PodcastOne Bridge Loan - Monte Carlo Assumptions (Details) | Sep. 08, 2023 | Mar. 31, 2023 | Jul. 15, 2022 |
Redemption Liability [Member] | |||
Simulations | 100,000 | ||
Measurement Input, Price Volatility [Member] | Redemption Liability [Member] | |||
Measurement input | 0.715 | ||
Measurement Input, Risk Free Interest Rate [Member] | Redemption Liability [Member] | |||
Measurement input | 0.0486 | ||
Measurement Input, Share Price [Member] | Redemption Liability [Member] | |||
Measurement input | 2.64 | ||
Measurement Input, Conversion Price [Member] | Redemption Liability [Member] | |||
Measurement input | 2.54 | ||
PC1 Note Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | |||
Warrants, measurement input | 0 | 0 | 0 |
PC1 Note Warrants [Member] | Measurement Input, Price Volatility [Member] | |||
Warrants, measurement input | 0.711 | 0.715 | 0.8888 |
PC1 Note Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants, measurement input | 0.0443 | 0.0486 | 0.0302 |
PC1 Note Warrants [Member] | Measurement Input, Share Price [Member] | |||
Warrants, measurement input | 4.39 | 2.54 | 5.33 |
PC1 Note Warrants [Member] | Measurement Input, Exercise Price [Member] | |||
Warrants, measurement input | 3 | 2.64 | 5.22 |
Note 10 - Senior Secured Revo_2
Note 10 - Senior Secured Revolving Line of Credit (Details Textual) - USD ($) | 12 Months Ended | |||||
Sep. 08, 2023 | Jul. 31, 2022 | Mar. 31, 2024 | Mar. 31, 2023 | Jul. 31, 2023 | Jun. 02, 2021 | |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Prime Rate [Member] | Prime Rate [Member] | ||||
Promissory Note [Member] | ||||||
Debt Instrument, Face Amount | $ 7,000,000 | |||||
Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | 2.50% | ||||
Line of Credit Facility, Interest Rate at Period End | 11% | |||||
Debt Instrument, Covenant, Deposits Held | $ 5,000,000 | $ 8,000,000 | ||||
Long-Term Line of Credit | $ 7,000,000 | $ 7,000,000 | ||||
Interest Expense, Operating and Nonoperating | $ 600,000 | $ 600,000 | ||||
Revolving Credit Facility [Member] | Minimum [Member] | ||||||
Line of Credit Facility, Interest Rate at Period End | 7% |
Note 11 - Unsecured Convertib_2
Note 11 - Unsecured Convertible Notes (Details Textual) | 1 Months Ended | 12 Months Ended | ||||||
Feb. 03, 2023 USD ($) $ / shares shares | Aug. 11, 2021 shares | Feb. 21, 2017 USD ($) | Jul. 31, 2022 USD ($) shares | Mar. 31, 2024 USD ($) $ / shares | Mar. 31, 2023 USD ($) $ / shares | Mar. 31, 2022 USD ($) $ / shares | Dec. 18, 2017 USD ($) | |
Gain (Loss) on Extinguishment of Debt | $ 0 | $ (1,034,000) | ||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $ 4,752,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||||
Trinad Capital [Member] | Convertible Debt [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | 8.50% | ||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 3 | |||||||
Debt Instrument, Face Amount | $ 1,100,000 | |||||||
Interest Payable | $ 300,000 | $ 300,000 | ||||||
Trinad Capital [Member] | Convertible Debt [Member] | Series A Preferred Stock [Member] | ||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | HSCPM Note [Member] | ||||||||
Debt Instrument, Face Amount | $ 10,503,965 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | HSCP Note [Member] | ||||||||
Debt Instrument, Face Amount | 4,496,035 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Trinidad Notes [Member] | ||||||||
Debt Instrument, Face Amount | $ 6,177,218 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Embedded Derivative Financial Instruments [Member] | ||||||||
Derivative, Notional Amount | $ 200,000 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Embedded Derivative Financial Instruments [Member] | Measurement Input, Share Price [Member] | ||||||||
Derivative Asset (Liability) Net, Measurement Input | 0.71 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Embedded Derivative Financial Instruments [Member] | Measurement Input, Exercise Price [Member] | ||||||||
Derivative Asset (Liability) Net, Measurement Input | 3 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Embedded Derivative Financial Instruments [Member] | Measurement Input, Price Volatility [Member] | ||||||||
Derivative Asset (Liability) Net, Measurement Input | 0.848 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Embedded Derivative Financial Instruments [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||
Derivative Asset (Liability) Net, Measurement Input | 0.0409 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Conversion of Original Trinidad Loan [Member] | ||||||||
Debt Conversion, Converted Instrument, Amount | $ 3,600,000 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Amendment Agreement [Member] | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 33,654 | |||||||
Gain (Loss) on Extinguishment of Debt | (4,300,000) | |||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | 4,200,000 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Conversion of Debt to Restricted Stock [Member] | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 500,000 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Conversion of Debt to Series A Preferred Stock [Member] | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 21,177 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Harvest Shares Conversion [Member] | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 625,000 | |||||||
Trinad Capital [Member] | Convertible Debt [Member] | Trinidad Capital Conversion [Member] | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 200,000 | |||||||
Gain (Loss) on Extinguishment of Debt | $ (500,000) |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Sep. 08, 2023 | Jul. 31, 2023 | Apr. 30, 2023 | Feb. 28, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Feb. 03, 2023 | Mar. 31, 2022 | |
Preferred Stock, Shares Outstanding (in shares) | 18,814 | 16,177 | ||||||
Common Stock, Shares, Outstanding (in shares) | 88,627,420 | 87,441,247 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 1,418 | $ 349 | ||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | $ 0 | |||||||
PodcastOne [Member] | ||||||||
Common Stock, Shares, Outstanding (in shares) | 15,672,186 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,100,000 | |||||||
Preferred Stock [Member] | ||||||||
Preferred Stock Dividends, Shares (in shares) | 2,637 | |||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 0 | 0 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 0 | ||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 0 | |||||||
Common Stock [Member] | ||||||||
Stock Issued During Period, Value, Issued for Services | 0 | 1 | ||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 0 | |||||||
Trinad Capital [Member] | Series A Preferred Stock [Member] | ||||||||
Preferred Stock, Shares Outstanding (in shares) | 6,177 | |||||||
Preferred Stock Dividends, Shares (in shares) | 192 | 116 | ||||||
Trinad Capital [Member] | Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||||||
Conversion of Stock, Shares Converted (in shares) | 6,177 | |||||||
Trinad Capital [Member] | Common Stock [Member] | ||||||||
Conversion of Stock, Shares Converted (in shares) | 200,000 | |||||||
Chief Executive Officer [Member] | Preferred Stock Dividend [Member] | ||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 147,044 | |||||||
Affiliate of the Director [Member] | Production Agreement Costs [Member] | ||||||||
Related Party Transaction, Amounts of Transaction | $ 0 | $ 100 | ||||||
Relative of the CEO [Member] | Common Stock [Member] | ||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 123,425 | 150,593 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 100 | $ 200 | ||||||
PodcastOne [Member] | Cost Sharing Agreement [Member] | ||||||||
Stock Received During Period, Shares (in shares) | 159,333 | |||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | $ 300 | |||||||
Convertible Debt [Member] | Trinad Capital [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | 8.50% |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) $ in Millions | 12 Months Ended | |||
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2023 | Dec. 22, 2020 ft² | |
Lessee, Operating Lease, Discount Rate | 8.50% | |||
PodcastOne [Member] | ||||
Operating Lease, Expense | $ 0.3 | $ 0.3 | ||
Leases Under 12 Months [Member] | ||||
Operating Lease, Expense | 0.5 | 0.2 | ||
Leases Over 12 Months [Member] | ||||
Operating Lease, Expense | $ 0.4 | $ 0.4 | ||
Addison, Illinois Manufacturing Facility [Member] | ||||
Area of Real Estate Property (Square Foot) | ft² | 55,120 |
Note 13 - Leases - Lease Cost (
Note 13 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Assets [Abstract] | ||
Property, Plant and Equipment, Net | $ 3,646 | $ 3,325 |
Liabilities, Current [Abstract] | ||
Accounts Payable and Accrued Liabilities, Current | 26,953 | 22,772 |
Fixed rent cost | 324 | 490 |
Short term lease cost | 596 | 141 |
Total operating lease cost | $ 920 | $ 631 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property, Plant and Equipment, Net | Property, Plant and Equipment, Net |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accounts Payable and Accrued Liabilities, Current | Accounts Payable and Accrued Liabilities, Current |
Operating lease right-of-use assets | $ 88 | $ 423 |
Lease liabilities, current | 91 | 273 |
Operating lease liability, noncurrent | 0 | 161 |
Total operating lease liabilities | $ 91 | $ 434 |
Note 13 - Leases - Maturity of
Note 13 - Leases - Maturity of Lease Liability (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
2025 | $ 100 | |
Total lease payments | 100 | |
Less: imputed interest | (9) | |
Present value of operating lease liabilities | $ 91 | $ 434 |
Note 14 - Other Long-term Lia_3
Note 14 - Other Long-term Liabilities (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Accrued Royalties | $ 18,400 | $ 16,600 |
Other Liabilities, Noncurrent | 9,354 | 9,578 |
Reclassification of Accrued Royalties to Long Term [Member] | ||
Accrued Royalties | 7,500 | $ 3,800 |
Sound Exchange Settlement [Member] | ||
Other Liabilities, Noncurrent | $ 5,600 |
Note 14 - Other Long-term Lia_4
Note 14 - Other Long-term Liabilities - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Contingent consideration from Gramophone acquisition | $ 0 | $ 174 |
Accrued royalties | 7,508 | 3,788 |
Accrued legal | 0 | 5,616 |
Accrued sales tax | 1,706 | 0 |
Other | 140 | 0 |
Total other long-term liabilities | $ 9,354 | $ 9,578 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Aug. 04, 2022 | Nov. 22, 2018 | May 31, 2023 | Mar. 31, 2025 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 29, 2018 | Apr. 10, 2018 | |
Stock Issued During Period, Value, Settlement of Accrued Expenses | $ 945 | |||||||
Schnaier Versus LiveXTickets, Inc. [Member] | ||||||||
Gain (Loss) Related to Litigation Settlement | $ 150 | $ 230 | ||||||
Statutory Interest Rate | 9% | 9% | ||||||
Wantickets [Member] | Danco Enterprises, LLC [Member] | ||||||||
Equity Method Investment, Ownership Percentage | 90% | |||||||
Chief Executive Officer [Member] | ||||||||
Salaries Forgiven for Shares Annually | $ 500 | |||||||
Agreements With Content Providers [Member] | ||||||||
Other Commitment, to be Paid, Year One | 6,600 | |||||||
Other Commitment, to be Paid, Year Two | 600 | |||||||
Other Commitment, to be Paid, Year Three | 500 | |||||||
Other Commitment, to be Paid, Year Four | 500 | |||||||
Settlement Agreement with A Certain Music Partner [Member] | ||||||||
Stock Issued During Period, Shares, Settlement of Accrued Expenses (in shares) | 800,000 | |||||||
Increase (Decrease) in Accounts Payable | $ 400 | |||||||
Stock Issued During Period, Value, Settlement of Accrued Expenses | $ 1,000 | |||||||
Stock Issued During Period, Shares, Settlement of Amounts Owned (in shares) | 597,918 | |||||||
Stock Issued During Period, Value, Settlement of Amounts Owned | $ 400 | |||||||
Settlement Agreement with A Certain Music Partner [Member] | Forecast [Member] | ||||||||
Stock Issued During Period, Shares, Settlement of Accrued Expenses (in shares) | 200,000 | |||||||
Employment Agreement With Two Executive Officers [Member] | ||||||||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | 700 | |||||||
Officers Bonuses | 300 | |||||||
Severance Costs | $ 300 |
Note 16 - Employee Benefit Pl_2
Note 16 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 5% | |
Defined Contribution Plan, Cost | $ 0.2 | $ 0.1 |
Maximum [Member] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100% |
Note 17 - Stockholders' Equit_2
Note 17 - Stockholders' Equity (Details Textual) - USD ($) | 7 Months Ended | 12 Months Ended | ||||||||
Sep. 08, 2023 | Sep. 17, 2020 | Mar. 31, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 15, 2022 | Dec. 01, 2022 | Dec. 31, 2020 | Mar. 31, 2016 | |
Stock Authorized (in shares) | 510,000,000 | 510,000,000 | ||||||||
Common Stock, Shares Authorized (in shares) | 500,000,000 | 500,000,000 | 500,000,000 | |||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 2,000,000 | |||||||||
Stock Repurchase Program, Increase in Authorized Amount | $ 2,500,000 | $ 2,500,000 | $ 2,000,000 | |||||||
Treasury Stock, Shares, Acquired (in shares) | 1,639,125 | 2,220,914 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 2,620,000 | $ 2,162,000 | ||||||||
Share Repurchase Program, Remaining Authorized, Amount | 1,100,000 | 1,100,000 | ||||||||
Share Repurchase Program, Authorized, Amount | 2,500,000 | 2,500,000 | ||||||||
Temporary Equity, Carrying Amount, Attributable to Parent | 4,962,000 | 4,962,000 | 4,827,000 | |||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | (4,460,000) | (523,000) | ||||||||
Preferred Stock, Value, Issued | 18,814,000 | 18,814,000 | 16,177,000 | |||||||
Accounts Payable and Accrued Liabilities | 900,000 | 900,000 | $ 700,000 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 100,000 | $ 100,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 0 | 0 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,075,756 | 1,172,380 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 1,850,576 | 2,136,679 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 50,000 | 429,011 | ||||||||
Stock Issued to Noncontrolling Owners (in shares) | 4,300,000 | 3,200,000 | ||||||||
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | $ 1,500,000 | $ 2,500,000 | ||||||||
Share-Based Payment Arrangement, Employee [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 4 years 1 month 17 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 4 years 25 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | 100,000 | $ 100,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | 0 | 0 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | 0 | $ 0 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Fair Value | 8,300,000 | 8,300,000 | 9,100,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Fair Value | 8,500,000 | $ 8,500,000 | 8,600,000 | |||||||
Share-Based Payment Arrangement, Nonemployee [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 3 years 10 months 24 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | 0 | $ 0 | ||||||||
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Employee [Member] | ||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 100,000 | $ 100,000 | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 10 months 20 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Shares Granted, Value, Share-Based Payment Arrangement, Forfeited | $ 600,000 | $ 4,000,000 | ||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 1,200,000 | $ 1,200,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,075,756 | 1,172,380 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.71 | $ 1.73 | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 8 months 12 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 4,000,000 | $ 2,300,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Fair Value | 100,000 | 1,100,000 | ||||||||
Warrants Issued in Podcastone Common Stock and Reclassified to Equity [Member] | ||||||||||
Warrants and Rights Outstanding | $ 5,900,000 | $ 5,900,000 | ||||||||
PodcastOne [Member] | ||||||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 21.64% | 26.50% | 26.50% | |||||||
The 2016 Equity Incentive Plan [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 17,600,000 | 12,600,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 5,000,000 | |||||||||
Share-Based Payment Arrangement, Expense | $ 7,900,000 | 3,000,000 | ||||||||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 0 | 0 | ||||||||
Sharebased Award Bonus | $ 1,100,000 | |||||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term (Year) | 10 years | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 3,269,910 | 3,269,910 | ||||||||
Podcastone 2022 Equity Plan [Member] | ||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,900,000 | $ 1,900,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 2,000,000 | |||||||||
Share-Based Payment Arrangement, Expense | $ 1,300,000 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 879,060 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.64 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 287,500 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 0 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 11 months 19 days | |||||||||
Series A Preferred Stock [Member] | ||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 2.1 | $ 2.1 | ||||||||
Preferred Stock, Dividend Rate, Percentage | 12% | |||||||||
Preferred Stock, Maximum Redemption Amount | $ 5,000,000 | $ 5,000,000 | ||||||||
Proceeds from Issuance of Mandatory Redeemable Capital Securities | $ 20,000,000 | |||||||||
Accelerated Share Repurchases, Final Price Paid Per Share (in dollars per share) | $ 2.25 | |||||||||
Shares Issued in Event of a Breach (in shares) | 56,473 | 56,473 | ||||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 5,000,000 | $ 5,000,000 | ||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 200,000 | 200,000 | ||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | (200,000) | $ 200,000 | ||||||||
Preferred Stock, Value, Issued | $ 16,200,000 | $ 16,200,000 |
Note 17 - Stockholders' Equit_3
Note 17 - Stockholders' Equity - Summary of Sharebased Compensation Activity (Details) - $ / shares | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Number of options granted (in shares) | 25,000 | 43,000 |
Weighted-average exercise price per share (in dollars per share) | $ 1.75 | $ 1.1 |
Weighted-average grant date fair value per share (in dollars per share) | $ 1.75 | $ 1.1 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,075,756 | 1,172,380 |
Restricted Stock Units (RSUs) [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,075,756 | 1,172,380 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.71 | $ 1.73 |
Note 17 - Stockholders' Equit_4
Note 17 - Stockholders' Equity - Summary of Valuation Assumptions (Details) - Share-Based Payment Arrangement, Option [Member] | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expected volatility | 88.57% | |
Expected volatility, minimum | 78.20% | |
Expected volatility, maximum | 83.10% | |
Dividend yield | 0% | 0% |
Risk-free rate | 4.12% | |
Risk-free rate, minimum | 3.11% | |
Risk-free rate, maximum | 3.14% | |
Expected term (in years) (Year) | 5 years 2 months 4 days | |
Minimum [Member] | ||
Expected term (in years) (Year) | 5 years 4 months 9 days | |
Maximum [Member] | ||
Expected term (in years) (Year) | 6 years 11 months 8 days |
Note 17 - Stockholders' Equit_5
Note 17 - Stockholders' Equity - Option Activity (Details) - $ / shares | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Outstanding, options (in shares) | 2,416,667 | |
Number of options granted (in shares) | 25,000 | 43,000 |
Weighted-average exercise price per share (in dollars per share) | $ 1.75 | $ 1.1 |
Outstanding, options (in shares) | 2,266,667 | 2,416,667 |
Share-Based Payment Arrangement, Employee [Member] | ||
Outstanding, options (in shares) | 2,416,667 | 3,565,191 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.75 | $ 3.78 |
Number of options granted (in shares) | 25,000 | 43,000 |
Weighted-average exercise price per share (in dollars per share) | $ 1.75 | $ 1.1 |
Forfeited or expired, options (in shares) | (165,000) | (1,191,524) |
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 3.88 | $ 3.71 |
Exercised, options (in shares) | (10,000) | |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 0.81 | |
Outstanding, options (in shares) | 2,266,667 | 2,416,667 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.73 | $ 3.75 |
Exercisable, options (in shares) | 2,224,167 | |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.74 | |
Share-Based Payment Arrangement, Nonemployee [Member] | ||
Outstanding, options (in shares) | 25,000 | 25,000 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4 | $ 4 |
Number of options granted (in shares) | 0 | 0 |
Weighted-average exercise price per share (in dollars per share) | $ 0 | $ 0 |
Forfeited or expired, options (in shares) | 0 | 0 |
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 0 | $ 0 |
Exercised, options (in shares) | 0 | 0 |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 0 | $ 0 |
Outstanding, options (in shares) | 25,000 | 25,000 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4 | $ 4 |
Exercisable, options (in shares) | 25,000 | |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4 |
Note 17 - Stockholders' Equit_6
Note 17 - Stockholders' Equity - Restricted Stock Units Activity (Details) - shares | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Outstanding, units (in shares) | 1,670,975 | 3,064,285 |
Granted, units (in shares) | 2,075,756 | 1,172,380 |
Vested, units (in shares) | (1,850,576) | (2,136,679) |
Cancelled, units (in shares) | (50,000) | (429,011) |
Outstanding, units (in shares) | 1,846,155 | 1,670,975 |
Note 18 - Income Tax Provisio_2
Note 18 - Income Tax Provision (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2017 | |
Deferred Tax Assets, Valuation Allowance | $ 41,784 | $ 40,020 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,800 | ||
Slacker [Member] | |||
Operating Loss Carryforwards, Limitations on Use, Amount | $ 96,800 | ||
Tax Credit Carryforward, Limitations on Use, Amount | 80,600 | ||
Domestic Tax Jurisdiction [Member] | |||
Operating Loss Carryforwards | 147,900 | ||
Operating Loss Carryforwards Subject to Expiration | 66,000 | ||
Operating Loss Carryforwards Not Subject to Expiration | 81,900 | ||
Domestic Tax Jurisdiction [Member] | Slacker [Member] | |||
Operating Loss Carryforwards | 133,900 | ||
Tax Credit Carryforward, Amount | 1,500 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards | $ 84,300 | ||
State and Local Jurisdiction [Member] | Slacker [Member] | |||
Operating Loss Carryforwards | 104,200 | ||
Tax Credit Carryforward, Amount | $ 1,700 |
Note 18 - Income Tax Provisio_3
Note 18 - Income Tax Provision - Schedule of Components of Income Tax Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Domestic | $ (13,193) | $ (9,954) |
Foreign | 0 | 0 |
Loss before income taxes | (13,193) | (9,954) |
U.S. Federal | 0 | 0 |
State | 111 | 70 |
Foreign | 0 | 0 |
Total Current | 111 | 70 |
U.S. Federal | (2) | 2 |
State | 9 | (7) |
Foreign | 0 | 0 |
Total Deferred | 7 | (5) |
Total provision for income taxes | $ 118 | $ 65 |
Note 18 - Income Tax Provisio_4
Note 18 - Income Tax Provision - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income taxes computed at Federal statutory rate | $ (2,777) | $ (2,056) |
State tax — net of federal benefit | 156 | (9) |
Nondeductible expenses | 1,021 | 1,292 |
PodcastOne distribution | 2,601 | 0 |
Federal NOL true-up | (3,166) | 0 |
Change in tax rates | 107 | 86 |
Change in valuation allowance | 1,764 | 228 |
Stock compensation | 328 | 371 |
Other | 84 | 153 |
Total provision for income taxes | $ 118 | $ 65 |
Note 18 - Income Tax Provisio_5
Note 18 - Income Tax Provision - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Net operating loss carryforwards | $ 36,781 | $ 35,760 |
Property and equipment | 0 | 64 |
Research and development | 1,195 | |
Accruals and reserves | 1,821 | 1,393 |
Stock compensation | 3,520 | 3,187 |
163 (j) interest expense carryforwards | 784 | 2,000 |
Charitable contribution carryforward | 8 | 18 |
Gross deferred tax assets | 44,109 | 42,422 |
Right of use asset | (151) | (107) |
Property and equipment | (575) | 0 |
Intangible assets | (1,938) | (2,627) |
Net deferred tax assets | 41,445 | 39,688 |
Valuation allowance | (41,784) | (40,020) |
Net deferred tax liability | $ (339) | $ (332) |
Note 19 - Business Segments a_3
Note 19 - Business Segments and Geographic Reporting (Details Textual) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | |
Number of Operating Segments | 3 | 3 |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 118,440 | $ 99,611 |
PodastOne Segment [Member] | ||
Assets, Noncurrent | 300 | |
Slacker Segment [Member] | ||
Assets, Noncurrent | 2,900 | |
Media Operations [Member] | ||
Assets, Noncurrent | 400 | |
Original Equipment Manufacturer OEM [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 59,900 | $ 44,300 |
Original Equipment Manufacturer OEM [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 42% | 32% |
Note 19 - Business Segments a_4
Note 19 - Business Segments and Geographic Reporting - Results of Operations by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 118,440 | $ 99,611 |
Net loss | (13,311) | (10,019) |
Operating Segments [Member] | PodcastOne [Member] | ||
Revenue | 43,302 | 34,645 |
Net loss | (14,732) | (6,967) |
Operating Segments [Member] | Slacker [Member] | ||
Revenue | 65,959 | 52,203 |
Net loss | 13,382 | 9,186 |
Operating Segments [Member] | Media Operations [Member] | ||
Revenue | 9,179 | 12,763 |
Net loss | (1,397) | (2,800) |
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member] | ||
Revenue | 0 | 0 |
Net loss | $ (10,564) | $ (9,438) |
Note 20 - Fair Value Measurem_3
Note 20 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 174 | $ (2,220) |
PodcastOne [Member] | ||
Business Combination, Contingent Consideration, Liability | $ 3,000 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 414,137 | |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 500 | |
Payments to Acquire Businesses, Gross | 300 | |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 2,200 | |
Forgiveness Amount of Contingent Consideration | $ 2,200 |
Note 20 - Fair Value Measurem_4
Note 20 - Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Assets, fair value | $ 0 | $ 140 | |
Liabilities, fair value | 607 | 3,698 | |
Derivative Financial Instruments, Liabilities [Member] | PC1 Notes [Member] | |||
Liabilities, fair value | 1,288 | ||
Derivative Financial Instruments, Liabilities [Member] | Series A Preferred Stock [Member] | |||
Liabilities, fair value | 607 | 376 | |
Contingent Liabilities [Member] | |||
Liabilities, fair value | 174 | ||
Warrant Liability [Member] | |||
Liabilities, fair value | 1,860 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Assets, fair value | 0 | 140 | |
Liabilities, fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member] | PC1 Notes [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member] | Series A Preferred Stock [Member] | |||
Liabilities, fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Contingent Liabilities [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Warrant Liability [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Assets, fair value | 0 | 0 | |
Liabilities, fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member] | PC1 Notes [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member] | Series A Preferred Stock [Member] | |||
Liabilities, fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Contingent Liabilities [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Warrant Liability [Member] | |||
Liabilities, fair value | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Assets, fair value | 0 | 0 | |
Liabilities, fair value | 607 | 3,698 | $ 3,157 |
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member] | PC1 Notes [Member] | |||
Liabilities, fair value | 1,288 | ||
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member] | Series A Preferred Stock [Member] | |||
Liabilities, fair value | 607 | 376 | |
Fair Value, Inputs, Level 3 [Member] | Contingent Liabilities [Member] | |||
Liabilities, fair value | 174 | ||
Fair Value, Inputs, Level 3 [Member] | Warrant Liability [Member] | |||
Liabilities, fair value | 1,860 | ||
Prepaid Expenses [Member] | |||
Assets, fair value | 0 | 140 | |
Prepaid Expenses [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets, fair value | 0 | 140 | |
Prepaid Expenses [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets, fair value | 0 | 0 | |
Prepaid Expenses [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets, fair value | $ 0 | $ 0 |
Note 20 - Fair Value Measurem_5
Note 20 - Fair Value Measurements - Reconciliation of Financial Liabilities Measured at Level (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 3,698 | |
Balance | 607 | $ 3,698 |
Fair Value, Inputs, Level 3 [Member] | ||
Balance | 3,698 | 3,157 |
Embedded derivative and warrant issued in connection with PodcastOne bridge loan | 2,845 | |
Embedded derivative and warrant issued in connection with Series A Preferred Stock | 173 | |
Settlement of PodcastOne contingent consideration | (3,000) | |
Conversion of embedded derivatives to equity | (1,481) | |
Conversion of warrant liability to non-controlling interest | (5,896) | |
Balance | 607 | 3,698 |
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member] | ||
Change in fair value, reported in earnings | 4,460 | $ 523 |
Fair Value, Inputs, Level 3 [Member] | Contingent Consideration Liability [Member] | ||
Change in fair value, reported in earnings | $ (174) |
Note 20 - Fair Value Measurem_6
Note 20 - Fair Value Measurements - Schedule of Assets and Liabilities on Nonrecurring Basis (Details) - Borrowings [Member] - PC1 Notes [Member] $ in Thousands | Mar. 31, 2023 USD ($) |
PodcastOne bridge loan | $ 4,726 |
Fair Value, Inputs, Level 1 [Member] | |
PodcastOne bridge loan | 0 |
Fair Value, Inputs, Level 2 [Member] | |
PodcastOne bridge loan | 0 |
Fair Value, Inputs, Level 3 [Member] | |
PodcastOne bridge loan | $ 9,152 |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
May 14, 2024 | Apr. 01, 2024 | Jul. 01, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | |
Treasury Stock, Shares, Acquired (in shares) | 1,639,125 | 2,220,914 | |||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | |||
Subsequent Event [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 3 years | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.1 | ||||
Aggregate Outstanding Preferred Stock Required to be Purchased | $ 5,000,000 | ||||
Subsequent Event [Member] | H S C P M [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 910,340 | ||||
Subsequent Event [Member] | H S C P [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 389,660 | ||||
Subsequent Event [Member] | Trinad Capital [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 535,399 | ||||
Subsequent Event [Member] | Roth Capital [Member] | |||||
Sale of Stocks, Maximum Amount Authorized to Sell | $ 25,000,000 | ||||
Sale of Stock, Maximum Price Allowed (in dollars per share) | $ 5 | ||||
Commission Fee, Percentage of Gross Sale Price Per Share | 3% | ||||
Commission Fee, Maximum Amount Allowed | $ 50,000 | ||||
Subsequent Event [Member] | Conversion of Series A Preferred Stock into Common Stock [Member] | |||||
Conversion of Stock, Amount Converted | $ 11,400,000 | ||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 2.1 | ||||
Subsequent Event [Member] | Conversion of Series A Preferred Stock into Common Stock [Member] | H S C P M [Member] | |||||
Conversion of Stock, Shares Converted (in shares) | 5,602.09 | ||||
Conversion of Stock, Shares Issued (in shares) | 2,667,664 | ||||
Subsequent Event [Member] | Conversion of Series A Preferred Stock into Common Stock [Member] | H S C P [Member] | |||||
Conversion of Stock, Shares Converted (in shares) | 2,397.91 | ||||
Conversion of Stock, Shares Issued (in shares) | 1,141,860 | ||||
Subsequent Event [Member] | Conversion of Series A Preferred Stock into Common Stock [Member] | Trinad Capital [Member] | |||||
Conversion of Stock, Shares Converted (in shares) | 3,395.09 | ||||
Conversion of Stock, Shares Issued (in shares) | 1,616,709 | ||||
Series A Preferred Stock [Member] | |||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 2.1 | ||||
Series A Preferred Stock [Member] | Subsequent Event [Member] | |||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||
Preferred Stock, Stated Value Per Share (in dollars per share) | $ 1,000 | ||||
Forecast [Member] | |||||
Treasury Stock, Shares, Acquired (in shares) | 402,593 | ||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 1.86 |