Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2023 | Feb. 09, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001940177 | |
Entity Registrant Name | PodcastOne, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-41795 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 35-2503373 | |
Entity Address, Address Line One | 335 N. Maple Drive Suite 127 | |
Entity Address, City or Town | Beverly Hills | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90210 | |
City Area Code | 310 | |
Local Phone Number | 858-0888 | |
Title of 12(b) Security | Common stock, $0.00001 par value per share | |
Trading Symbol | PODC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 23,150,136 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Current Assets | ||
Total cash and cash equivalents | $ 1,405 | $ 3,562 |
Accounts receivable, net | 7,816 | 6,876 |
Prepaid expense and other current assets | 402 | 1,006 |
Total Current Assets | 9,623 | 11,444 |
Property and equipment, net | 309 | 242 |
Goodwill | 12,041 | 12,041 |
Intangible assets, net | 3,052 | 732 |
Related party receivable | 2,650 | 3,768 |
Total Assets | 27,675 | 28,227 |
Current Liabilities | ||
Bridge loan, net | 0 | 7,155 |
Derivative liabilities | 0 | 4,767 |
Total Current Liabilities | 10,930 | 21,108 |
Other long term liabilities | 276 | 0 |
Total Liabilities | 11,206 | 21,108 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, $0.00001 par value; 200,000,000 shares authorized; 23,122,149 and 20,000,000 shares issued and outstanding as of December 31, 2023 and March 31, 2023, respectively | 0 | 0 |
Additional paid in capital | 45,031 | 19,785 |
Accumulated deficit | (28,562) | (12,666) |
Total stockholders’ equity | 16,469 | 7,119 |
Total Liabilities and Stockholders’ Equity | 27,675 | 28,227 |
Nonrelated Party [Member] | ||
Current Liabilities | ||
Accounts payable and accrued liabilities | 7,802 | 6,898 |
Related Party [Member] | ||
Current Liabilities | ||
Accounts payable and accrued liabilities | $ 3,128 | $ 2,288 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2023 | Mar. 31, 2023 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common Stock, Shares Authorized (in shares) | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued (in shares) | 23,122,149 | 20,000,000 |
Common Stock, Shares, Outstanding (in shares) | 23,122,149 | 20,000,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue: | $ 10,442 | $ 8,589 | $ 31,595 | $ 25,802 |
Operating expenses: | ||||
Cost of sales | 9,387 | 7,045 | 26,666 | 19,954 |
Sales and marketing | 732 | 1,115 | 3,433 | 3,931 |
Product development | 15 | 26 | 70 | 134 |
General and administrative | 2,601 | 1,111 | 4,736 | 2,723 |
Amortization of intangible assets | 307 | 25 | 523 | 76 |
Total operating expenses | 13,042 | 9,322 | 35,428 | 26,818 |
(Loss) income from operations | (2,600) | (733) | (3,833) | (1,016) |
Other income (expense): | ||||
Interest expense, net | 0 | (1,661) | (2,247) | (3,043) |
Change in fair value of bifurcated embedded derivatives | 0 | 178 | (7,603) | 1,043 |
Other income (expense) | 0 | 138 | 0 | 0 |
Total other (expense) income, net | 0 | (1,345) | (9,850) | (2,000) |
Loss before provision for income taxes | (2,600) | (2,078) | (13,683) | (3,016) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (2,600) | $ (2,078) | $ (13,683) | $ (3,016) |
Net loss per share – basic and diluted (in dollars per share) | $ (0.11) | $ (0.01) | $ (0.64) | $ (0.02) |
Weighted average common shares – basic and diluted (in shares) | 23,072,179 | 147,984,230 | 21,252,375 | 147,984,230 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Mar. 31, 2022 | 147,984,230 | |||
Balance at Mar. 31, 2022 | $ 0 | $ 18,784 | $ (5,699) | $ 13,085 |
Stock-based compensation (in shares) | 0 | |||
Stock-based compensation | $ 0 | 286 | 0 | 286 |
Net loss | $ 0 | 0 | (481) | (481) |
Balance (in shares) at Jun. 30, 2022 | 147,984,230 | |||
Balance at Jun. 30, 2022 | $ 0 | 19,070 | (6,180) | 12,890 |
Balance (in shares) at Mar. 31, 2022 | 147,984,230 | |||
Balance at Mar. 31, 2022 | $ 0 | 18,784 | (5,699) | 13,085 |
Net loss | (3,016) | |||
Balance (in shares) at Dec. 31, 2022 | 147,984,230 | |||
Balance at Dec. 31, 2022 | $ 0 | 19,535 | (8,715) | 10,820 |
Balance (in shares) at Jun. 30, 2022 | 147,984,230 | |||
Balance at Jun. 30, 2022 | $ 0 | 19,070 | (6,180) | 12,890 |
Stock-based compensation (in shares) | 0 | |||
Stock-based compensation | $ 0 | 300 | 0 | 300 |
Net loss | $ 0 | 0 | (457) | (457) |
Balance (in shares) at Sep. 30, 2022 | 147,984,230 | |||
Balance at Sep. 30, 2022 | $ 0 | 19,370 | (6,637) | 12,733 |
Stock-based compensation | 0 | 165 | 0 | 165 |
Net loss | $ 0 | 0 | (2,078) | (2,078) |
Balance (in shares) at Dec. 31, 2022 | 147,984,230 | |||
Balance at Dec. 31, 2022 | $ 0 | 19,535 | (8,715) | 10,820 |
Balance (in shares) at Mar. 31, 2023 | 20,000,000 | |||
Balance at Mar. 31, 2023 | $ 0 | 19,785 | (12,666) | 7,119 |
Stock-based compensation (in shares) | 0 | |||
Stock-based compensation | $ 0 | 84 | 0 | 84 |
Net loss | $ 0 | 0 | (210) | (210) |
Balance (in shares) at Jun. 30, 2023 | 20,000,000 | |||
Balance at Jun. 30, 2023 | $ 0 | 19,869 | (12,876) | 6,993 |
Balance (in shares) at Mar. 31, 2023 | 20,000,000 | |||
Balance at Mar. 31, 2023 | $ 0 | 19,785 | (12,666) | 7,119 |
Net loss | (13,683) | |||
Balance (in shares) at Dec. 31, 2023 | 23,122,149 | |||
Balance at Dec. 31, 2023 | $ 0 | 45,031 | (28,562) | 16,469 |
Balance (in shares) at Jun. 30, 2023 | 20,000,000 | |||
Balance at Jun. 30, 2023 | $ 0 | 19,869 | (12,876) | 6,993 |
Stock-based compensation (in shares) | 0 | |||
Stock-based compensation | $ 0 | 842 | 0 | 842 |
Net loss | 0 | 0 | (10,873) | (10,873) |
Common stock warrants reclassed to equity | $ 0 | 9,116 | 0 | 9,116 |
Bridge loan converted into common stock (in shares) | 2,340,707 | |||
Bridge loan converted into common stock | $ 0 | 10,276 | 0 | 10,276 |
Common stock dividend (in shares) | 504,080 | |||
Common stock dividend | $ 0 | (2,213) | 0 | |
Common stock dividend | 2,213 | |||
Common stock issued for services (in shares) | 6,250 | |||
Common stock issued for services | $ 0 | 12 | 0 | 12 |
Common stock issued for purchase of intangibles (in shares) | 208,800 | |||
Common stock issued for purchase of intangibles | $ 0 | 917 | 0 | 917 |
Balance (in shares) at Sep. 30, 2023 | 23,059,837 | |||
Balance at Sep. 30, 2023 | $ 0 | 43,245 | (25,962) | 17,283 |
Stock-based compensation | 0 | 1,663 | 0 | 1,663 |
Net loss | $ 0 | 0 | (2,600) | (2,600) |
Common stock issued for services (in shares) | 62,312 | |||
Common stock issued for services | $ 0 | 123 | 0 | 123 |
Balance (in shares) at Dec. 31, 2023 | 23,122,149 | |||
Balance at Dec. 31, 2023 | $ 0 | $ 45,031 | $ (28,562) | $ 16,469 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (13,683) | $ (3,016) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 710 | 241 |
Stock-based compensation | 2,724 | 751 |
Amortization of debt discount | 1,949 | 2,641 |
Change in fair value of bifurcated embedded derivatives | 7,603 | (1,043) |
Provision for credit losses | (126) | (1) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (814) | 1,727 |
Prepaid expenses and other current assets | 604 | (28) |
Related party receivable/payables | 1,958 | (4,909) |
Accounts payable and accrued liabilities | 583 | (711) |
Other liabilities | 278 | 0 |
Net cash provided by (used in) operating activities | 1,786 | (4,348) |
Cash Flows from Investing Activities: | ||
Purchases of property and equipment | (255) | (162) |
Purchase of intangible assets | (688) | 0 |
Net cash used in investing activities | (943) | (162) |
Cash Flows from Financing Activities: | ||
Payments on bridge loan | (3,000) | 0 |
Proceeds from bridge loan | 0 | 7,376 |
Net cash (used in) provided by financing activities | (3,000) | 7,376 |
Net change in cash and cash equivalents | (2,157) | 2,866 |
Cash and cash equivalents, beginning of period | 3,562 | 1,103 |
Cash and cash equivalents, end of period | 1,405 | 3,969 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 0 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Common stock issued in exchange for the purchase of intangibles | 917 | 0 |
Purchase of intangibles accrued for at period end | 1,241 | 0 |
Common stock issued in connection with the conversion of the bridge loan | 10,276 | 0 |
Common stock dividend | 2,213 | 0 |
Warrants classified from liabilities to equity | 9,116 | 0 |
Derivative exchanged into common stock associated with the bridge loan | 3,254 | 0 |
Fair value of warrant and derivative liability issued with debt instrument | $ 0 | $ 4,308 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1 Organization and Basis of Presentation Organization PodcastOne, Inc. (“we,” “us,” “our”, the “Company” or “PodcastOne”), formerly known as Courtside Group, Inc., is a Delaware corporation headquartered in Beverly Hills, California. The Company is a leading podcast platform and publisher that makes its content available to audiences via all podcasting distribution platforms, including its website (www.podcastone.com), its PodcastOne app, Apple Podcasts, Spotify, Amazon Music and more. The Company was incorporated in the State of Delaware on February 25, 2014, July 1, 2020, two Basis of Presentation The results of operations and financial position of the Company are consolidated with LiveOne’s financial statements and that these financial statements have been derived as if the Company had operated on a standalone basis during the three nine December 31, 2023 2022 may not may not third nine December 31, 2023 2022 not third three nine December 31, 2023 not March 31, 2024 2024 March 31, 2023 10 June 29, 2023 ( The interim unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with Article 10 X. not Going Concern and Liquidity The Company’s interim unaudited condensed 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 issuances and its cash and cash equivalents (which cash and cash equivalents amounted to $1.4 million as of December 31, 2023 December 31, 2023 one not The Company is looking for additional financing sources to attempt to secure additional interim financing, which is needed to continue its current level of business operations and satisfy its current obligations, unless such financing is provided by LiveOne, if at all. In the absence of additional sources of liquidity, management anticipates that existing cash resources will not November 2024. no not not may not not Principles of Consolidation The interim unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Acquisitions are included in the Company’s interim audited condensed 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. All intercompany balances and transactions have been eliminated in consolidation. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Summary of Significant Accounting Policies COVID- 19 In March 2020, 19 19 19 fourth March 31, 2020 March 31, 2021 third March 31, 2022. March 31, 2023 Use of Estimates The preparation of the Company’s interim unaudited condensed consolidated financial statements in conformity with 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, the fair value of the Company’s equity-based compensation awards and convertible debt and debt instruments, fair values of derivatives, and contingencies. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Given the overall uncertainty surrounding the COVID- 19 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 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 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 Allocation of Costs The Company’s interim unaudited condensed consolidated financial statements include an allocation of costs that have been incurred by LiveOne on the Company’s behalf. Such expenses incurred include, but are not 1 Allocations of Expenses and Related Disclosures in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity Had the Company been operating on a stand-alone basis, the cost allocated would not three nine December 31, 2023 2022 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 the Company enters into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized based on delivery of impressions and in the same manner as described above. Services received are charged to expense when received or utilized. If services are received prior to the delivery of impressions, a liability is recorded. If delivery of impressions has occurred before the receipt of goods or services, a receivable is recorded. Barter revenue for the three December 31, 2023 2022 nine December 31, 2023 2022 Cost of Sales Cost of sales consists of direct costs comprised of revenue sharing expenses owed to content creators and commissions. Sales and Marketing Sales and Marketing include the direct and indirect costs related to the Company’s 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 $0.1 million and $0.1 million for the three December 31, 2023 2022 nine December 31, 2023 2022 Product Development Product development costs not not Stock-Based Compensation Stock-based compensation is allocated to the Company from its parent LiveOne based on the amount of stock-based compensation granted to employees of the Company in the form of stock-based compensation of LiveOne in accordance with SAB Topic 1 Allocations of Expenses and Related Disclosures in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity LiveOne measures stock-based compensation cost 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. LiveOne accounts for awards with graded vesting as if each vesting tranche is valued as a separate award. LiveOne uses the Black-Scholes-Merton option pricing model to determine the grant date fair value of stock options. This model requires LiveOne 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. LiveOne uses a predicted volatility of its stock price during the expected life of the options that is based on the historical performance of LiveOne’s stock price as well as including an estimate using guideline companies. The expected term is computed using the simplified method as LiveOne’s best estimate given its lack of actual exercise history. LiveOne 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 option. Management believes that the fair value of the stock options is more reliably measured than the fair value of the services received. 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. LiveOne records the fair value of these equity-based awards and expense at their cost ratably over related vesting periods. During the nine December 31, 2023, 2022 December 2022. 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 (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 consisting of stock options issued to employees, directors, vendors and consultants, restricted stock units, and convertible notes would be excluded from the diluted earnings per share calculation because their effect is anti-dilutive. 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 and cash equivalents presented in the Company’s interim unaudited condensed consolidated statements of cash flows as of December 31, 2023 2022 December 31, December 31, 2023 2022 Total cash and cash equivalents $ 1,405 $ 3,969 Accounts Receivable 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 nature of its membership receivables. The Company’s accounts receivable at December 31, 2023 March 31, 2023 December 31, March 31, 2023 2023 Accounts receivable, gross $ 7,876 $ 7,062 Less: Allowance for credit losses (60 ) (186 ) Accounts receivable, net $ 7,816 $ 6,876 Related Party Receivable and Payables LiveOne has historically maintained a lending relationship with the Company in order to supplement the Company’s working capital needs. As of December 31, 2023 March 31, 2023 not 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. The Company capitalizes certain costs related to the development of its platform and other software applications for internal use. In accordance with authoritative guidance, the Company begins to capitalize its costs to develop software when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. The Company stops capitalizing these costs when the software is substantially complete and ready for its intended use, including the completion of all significant testing. These costs are amortized on a straight-line basis over the estimated useful life of the related asset, generally estimated to be three Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: computer, machinery, and software equipment (3 to 5 years), furniture and fixtures (3 to 5 years), leasehold improvements are depreciated over the shorter of the estimated useful life or the lease term and capitalized software (3 years). 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. 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 The Company’s annual goodwill impairment test is performed at the reporting unit level. The Company generally tests goodwill for possible impairment by first not not not three nine December 31, 2023 2022 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. 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 and Content Creator Relationships 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: Brand and Trade Names (10 years), Customer, and Content Creator (1-2 years). The Company reviews all finite lived intangible assets for impairment when circumstances indicate that their carrying values may not not 19 three nine December 31, 2023 2022 may 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 December 31, 2023 3 no Concentration of Credit Risk The Company maintains cash balances at commercial banks. Cash balances commonly exceed the $250,000 amount insured by the Federal Deposit Insurance Corporation. The Company has not not 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 a Monte Carlo simulation 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 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 using the straight-line method. Recently Adopted Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022 2016 13 April 1, 2023 not Recently Issued Accounting Pronouncements In October 2021, 2021 08, 805 2021 08 606, 2021 08 first 2023. 2021 08 Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not not |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3 Property and Equipment The Company’s property and equipment at December 31, 2023 March 31, 2023 December 31, March 31, 2023 2023 Property and equipment, net Computer, machinery, and software equipment $ 130 $ 113 Furniture and fixtures 14 14 Leasehold improvements 91 24 Capitalized internally developed software 729 559 Total property and equipment 964 710 Less accumulated depreciation and amortization (655 ) (468 ) Total property and equipment, net $ 309 $ 242 Depreciation expense was $0.1 million and $0.1 million for the three December 31, 2023 2022 nine December 31, 2023 2022 |
Note 4 - Goodwill and Intangibl
Note 4 - Goodwill and Intangible Assets | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 4 Goodwill and Intangible Assets Goodwill The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the three December 31, 2023 Goodwill Balance as of March 31, 2023 $ 12,041 Acquisitions - Balance as of December 31, 2023 $ 12,041 Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of December 31, 2023 Gross Net Carrying Accumulated Carrying Value Amortization Value Content creator relationships $ 3,615 $ 1,219 $ 2,396 Brand and trade names 1,010 354 656 Total $ 4,625 $ 1,573 $ 3,052 The Company’s finite-lived intangible assets were as follows as of March 31, 2023 ( Gross Net Carrying Accumulated Carrying Value Amortization Value Content creator relationships $ 772 $ 772 $ - Brand and trade names 1,010 278 732 Total $ 1,782 $ 1,050 $ 732 Finder's Agreement In September 2023, third third December 31, 2023 third The Company’s amortization expense on its finite-lived intangible assets was $0.3 million and $0.1 million for the three December 31, 2023 2022 nine December 31, 2023 2022 The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2024 For Years Ending March 31, 2024 (remaining three months) $ 748 2025 1,480 2026 199 2027 199 2028 199 Thereafter 227 $ 3,052 |
Note 5 - Accounts Payable and A
Note 5 - Accounts Payable and Accrued Liabilities | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 5 Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at December 31, 2023 March 31, 2023 December 31, March 31, 2023 2023 Accounts payable $ 1,546 $ 1,541 Accrued revenue share 3,925 3,039 Other accrued liabilities 2,331 2,318 $ 7,802 $ 6,898 Accrued revenue share can be attributed to monies owed to content creators who provide their podcast or other media content for the Company to sell to consumers. The Company accrues a liability based on the percentage of revenue owed to each content creator at the time of sale. |
Note 6 - PodcastOne Bridge Loan
Note 6 - PodcastOne Bridge Loan | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 6 PodcastOne Bridge Loan PodcastOne ’ s Private Placement On July 15, 2023, “PC1 “PC1 PC1 “PC1 “PC1 PC1 July 15, 2023, one three October 15, 2023. PC1 PC1 PC1 PC1 PC1 PC1 PC1 PC1 $0.001 PC1 PC1 $0.001 PC1 LiveOne also agreed (i) not no PC1 PC1 not February 15, 2023, March 15, 2023 April 15, 2023, PC1 PC1 PC1 tenth three PC1 The Company 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 During the nine December 31, 2023 PC1 On September 8, 2023, PC1 2,341,000 Warrants The PC1 PC1 PC1 PC1 PC1 September 8, 2023, PC1 September 8, 2023 December 31, 2023 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 $ 2.64 Exercise price $ 3.00 $ 2.64 Total change in fair value of a loss of none and loss of $6.3 million for warrant liabilities accounted for as derivatives have been recorded in other expense for the three nine December 31, 2023 three nine December 31, 2022. Redemption Features The Company determined that the redemption features associated with the PC1 PC1 September 8, 2023, not September 8, 2023, 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 3.59 % Conversion price $ 1.78 Stock price $ 2.64 The fair value of the Redemption Liability at December 31, 2023 none PC1 three nine December 31, 2023. three nine December 31, 2022, The resulting discount from the OID, underwriting fees, PC1 July 15, 2023, PC1 three nine December 31, 2023 three nine December 31, 2022 Interest expense with respect to the PC1 three nine December 31, 2023 none three nine December 31, 2022 no PC1 |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 7 Related Party Transactions As of December 31, 2023 During the three nine December 31, 2023 2022 three nine December 31, 2022 three nine December 31, 2023 On July 1, 2020, As of December 31, 2023 March 31, 2023 December 31, 2023 March 31, 2023 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 8 Commitments and Contingencies Contractual Obligations As of December 31, 2023 March 31, 2024 On August 28, 2023, two January 1, 2023. 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 Legal Proceedings 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 On February 23, 2023, §1102.5, may not Parent Company Debt The senior credit facility held by the Company’s parent, LiveOne, contains provisions that limit the Company’s operating activities, including covenant relating to the requirement to maintain a certain amount cash at LiveOne of $7.0 million (as was subsequently reduced and maybe adjusted from time to time). If an event of default occurs and is continuing, the senior lender may October 13, 2022, February 2023, may may may September 8, 2023 August 22, 2023, first August 2023, December 31, 2023 |
Note 9 - Employee Benefit Plan
Note 9 - Employee Benefit Plan | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 9 Employee Benefit Plan The Company’s parent LiveOne sponsors a 401 “401 401 first may 401 not three nine December 31, 2023 2022 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 10 Stockholders Equity Spin-Out Prior to the Spin-Out, LiveOne, through its wholly owned subsidiary, LiveXLive PodcastOne, Inc., canceled 127,984,230 shares of the Company’s common stock. As of December 31, 2023 not PC1 Pursuant to the Company’s Amended and Restated Certificate of Incorporation which was approved by the Company’s board of directors and LiveOne as the sole stockholder on December 15, 2022, September 12, 2023, September 8, 2023, PC1 PC1 PC1 zero Finder's Agreement In September 2023, third third December 31, 2023, third 2016 LiveOne’s board of directors and stockholders approved its 2016 “2016 September 17, 2020, 2016 2016 June 28, 2021. 2016 not 162 1986, 2016 2016 LiveOne Options Grants to the Company ’ s Employees Stock option awards are granted with an exercise price equal to the fair market value of LiveOne’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 two four ten As of December 31, 2023 The following table summarizes the activity of LiveOne’s options granted to its and its subsidiaries’ employees during the nine December 31, 2023 Weighted- Average Exercise Number of Price per Shares Share Outstanding as of March 31, 2023 240,000 2.84 Granted 15,000 1.75 Exercised - - Forfeited or expired (100,000 ) 4.20 Outstanding as of December 31, 2023 155,000 1.86 Exercisable as of December 31, 2023 128,750 1.56 The weighted-average remaining contractual term for options to employees outstanding and options to employees exercisable as of December 31, 2023 none none, December 31, 2023 The fair value of stock options outstanding and exercisable at December 31, 2023 December 31, 2022 Restricted Stock Units Grants As of December 31, 2023 The following table summarizes the activity of LiveOne’s restricted stock units granted to employees during the nine December 31, 2023 Number of Shares Outstanding as of March 31, 2023 262,500 Granted 320,000 Outstanding as of December 31, 2023 582,500 The fair value of restricted stock units that vested during the three December 31, 2023 2022 PodcastOne 2022 On December 15, 2022, 2022 “2022 2022 not 162 2022 2022 As of December 31, 2023, 2022 None December 31, 2023. December 31, 2023, Authorized Common Stock and Authority to Create Preferred Stock Pursuant to the Company’s Amended and Restated Certificate of Incorporation which was approved by the Company’s board of directors and LiveOne as the sole stockholder on December 15, 2023, The Company may one no may not While the Company does not not may |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 11 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): December 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Warrant liability on PodcastOne bridge loan $ - $ - $ - $ - Bifurcated embedded derivative on PodcastOne bridge loan - - - - $ - $ - $ - $ - March 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Warrant liability on PodcastOne bridge loan $ 2,817 $ - $ - $ 2,817 Bifurcated embedded derivative on PodcastOne bridge loan 1,950 - - 1,950 $ 4,767 $ - $ - $ 4,767 The following table presents a reconciliation of the Company’s financial liabilities that are measured at Level 3 Amount Balance at March 31, 2023 $ 4,767 Change in fair value of bifurcated embedded derivatives, reported in earnings 7,603 Reclassification of warrant liability to equity (9,116 ) Conversion of bifurcated embedded derivative into common stock (3,254 ) Balance as of December 31, 2023 $ - December 31, 2023 March 31, 2023 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 9 Months Ended |
Dec. 31, 2023 | Dec. 31, 2023 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. None | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Unusual Risks and Uncertainties [Policy Text Block] | COVID- 19 In March 2020, 19 19 19 fourth March 31, 2020 March 31, 2021 third March 31, 2022. March 31, 2023 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the Company’s interim unaudited condensed consolidated financial statements in conformity with 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, the fair value of the Company’s equity-based compensation awards and convertible debt and debt instruments, fair values of derivatives, and contingencies. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Given the overall uncertainty surrounding the COVID- 19 |
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 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 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 [Policy Text Block] | 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 |
Allocation of Costs [Policy Text Block] | Allocation of Costs The Company’s interim unaudited condensed consolidated financial statements include an allocation of costs that have been incurred by LiveOne on the Company’s behalf. Such expenses incurred include, but are not 1 Allocations of Expenses and Related Disclosures in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity Had the Company been operating on a stand-alone basis, the cost allocated would not three nine December 31, 2023 2022 |
Advertising Cost [Policy Text Block] | 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 the Company enters into barter transactions involving advertising provided in exchange for goods and services. Revenue from barter transactions is recognized based on delivery of impressions and in the same manner as described above. Services received are charged to expense when received or utilized. If services are received prior to the delivery of impressions, a liability is recorded. If delivery of impressions has occurred before the receipt of goods or services, a receivable is recorded. Barter revenue for the three December 31, 2023 2022 nine December 31, 2023 2022 |
Cost of Goods and Service [Policy Text Block] | Cost of Sales Cost of sales consists of direct costs comprised of revenue sharing expenses owed to content creators and commissions. |
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 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 $0.1 million and $0.1 million for the three December 31, 2023 2022 nine December 31, 2023 2022 |
In Process Research and Development, Policy [Policy Text Block] | Product Development Product development costs not not |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Stock-based compensation is allocated to the Company from its parent LiveOne based on the amount of stock-based compensation granted to employees of the Company in the form of stock-based compensation of LiveOne in accordance with SAB Topic 1 Allocations of Expenses and Related Disclosures in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity LiveOne measures stock-based compensation cost 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. LiveOne accounts for awards with graded vesting as if each vesting tranche is valued as a separate award. LiveOne uses the Black-Scholes-Merton option pricing model to determine the grant date fair value of stock options. This model requires LiveOne 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. LiveOne uses a predicted volatility of its stock price during the expected life of the options that is based on the historical performance of LiveOne’s stock price as well as including an estimate using guideline companies. The expected term is computed using the simplified method as LiveOne’s best estimate given its lack of actual exercise history. LiveOne 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 option. Management believes that the fair value of the stock options is more reliably measured than the fair value of the services received. 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. LiveOne records the fair value of these equity-based awards and expense at their cost ratably over related vesting periods. During the nine December 31, 2023, 2022 December 2022. |
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] | Earnings (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 consisting of stock options issued to employees, directors, vendors and consultants, restricted stock units, and convertible notes would be excluded from the diluted earnings per share calculation because their effect is anti-dilutive. |
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, Restricted 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 and cash equivalents presented in the Company’s interim unaudited condensed consolidated statements of cash flows as of December 31, 2023 2022 December 31, December 31, 2023 2022 Total cash and cash equivalents $ 1,405 $ 3,969 |
Accounts Receivable [Policy Text Block] | Accounts Receivable 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 nature of its membership receivables. The Company’s accounts receivable at December 31, 2023 March 31, 2023 December 31, March 31, 2023 2023 Accounts receivable, gross $ 7,876 $ 7,062 Less: Allowance for credit losses (60 ) (186 ) Accounts receivable, net $ 7,816 $ 6,876 |
Related Party Receivable and Payables [Policy Text Block] | Related Party Receivable and Payables LiveOne has historically maintained a lending relationship with the Company in order to supplement the Company’s working capital needs. As of December 31, 2023 March 31, 2023 not |
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. The Company capitalizes certain costs related to the development of its platform and other software applications for internal use. In accordance with authoritative guidance, the Company begins to capitalize its costs to develop software when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. The Company stops capitalizing these costs when the software is substantially complete and ready for its intended use, including the completion of all significant testing. These costs are amortized on a straight-line basis over the estimated useful life of the related asset, generally estimated to be three Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: computer, machinery, and software equipment (3 to 5 years), furniture and fixtures (3 to 5 years), leasehold improvements are depreciated over the shorter of the estimated useful life or the lease term and capitalized software (3 years). 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. |
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 The Company’s annual goodwill impairment test is performed at the reporting unit level. The Company generally tests goodwill for possible impairment by first not not not three nine December 31, 2023 2022 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. |
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 and Content Creator Relationships 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: Brand and Trade Names (10 years), Customer, and Content Creator (1-2 years). The Company reviews all finite lived intangible assets for impairment when circumstances indicate that their carrying values may not not 19 three nine December 31, 2023 2022 may |
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 December 31, 2023 3 no |
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 amount insured by the Federal Deposit Insurance Corporation. The Company has not not |
Debt, Policy [Policy Text Block] | Debt with Warrants In accordance with ASC Topic 470 20 25, |
Derivatives, Policy [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 a Monte Carlo simulation 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 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 using the straight-line method. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022 2016 13 April 1, 2023 not Recently Issued Accounting Pronouncements In October 2021, 2021 08, 805 2021 08 606, 2021 08 first 2023. 2021 08 Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Cash, Cash Equivalents and Investments [Table Text Block] | December 31, December 31, 2023 2022 Total cash and cash equivalents $ 1,405 $ 3,969 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, March 31, 2023 2023 Accounts receivable, gross $ 7,876 $ 7,062 Less: Allowance for credit losses (60 ) (186 ) Accounts receivable, net $ 7,816 $ 6,876 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, March 31, 2023 2023 Property and equipment, net Computer, machinery, and software equipment $ 130 $ 113 Furniture and fixtures 14 14 Leasehold improvements 91 24 Capitalized internally developed software 729 559 Total property and equipment 964 710 Less accumulated depreciation and amortization (655 ) (468 ) Total property and equipment, net $ 309 $ 242 |
Note 4 - Goodwill and Intangi_2
Note 4 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Goodwill Balance as of March 31, 2023 $ 12,041 Acquisitions - Balance as of December 31, 2023 $ 12,041 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Net Carrying Accumulated Carrying Value Amortization Value Content creator relationships $ 3,615 $ 1,219 $ 2,396 Brand and trade names 1,010 354 656 Total $ 4,625 $ 1,573 $ 3,052 Gross Net Carrying Accumulated Carrying Value Amortization Value Content creator relationships $ 772 $ 772 $ - Brand and trade names 1,010 278 732 Total $ 1,782 $ 1,050 $ 732 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For Years Ending March 31, 2024 (remaining three months) $ 748 2025 1,480 2026 199 2027 199 2028 199 Thereafter 227 $ 3,052 |
Note 5 - Accounts Payable and_2
Note 5 - Accounts Payable and Accrued Liabilities (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, March 31, 2023 2023 Accounts payable $ 1,546 $ 1,541 Accrued revenue share 3,925 3,039 Other accrued liabilities 2,331 2,318 $ 7,802 $ 6,898 |
Note 6 - PodcastOne Bridge Lo_2
Note 6 - PodcastOne Bridge Loan (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | 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 $ 2.64 Exercise price $ 3.00 $ 2.64 March 31, 2023 Simulations 100,000 Expected stock-price volatility 71.50 % Risk-free interest rate 3.59 % Conversion price $ 1.78 Stock price $ 2.64 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Average Exercise Number of Price per Shares Share Outstanding as of March 31, 2023 240,000 2.84 Granted 15,000 1.75 Exercised - - Forfeited or expired (100,000 ) 4.20 Outstanding as of December 31, 2023 155,000 1.86 Exercisable as of December 31, 2023 128,750 1.56 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Shares Outstanding as of March 31, 2023 262,500 Granted 320,000 Outstanding as of December 31, 2023 582,500 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurements (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Warrant liability on PodcastOne bridge loan $ - $ - $ - $ - Bifurcated embedded derivative on PodcastOne bridge loan - - - - $ - $ - $ - $ - March 31, 2023 Fair Hierarchy Level Value Level 1 Level 2 Level 3 Liabilities: Warrant liability on PodcastOne bridge loan $ 2,817 $ - $ - $ 2,817 Bifurcated embedded derivative on PodcastOne bridge loan 1,950 - - 1,950 $ 4,767 $ - $ - $ 4,767 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Amount Balance at March 31, 2023 $ 4,767 Change in fair value of bifurcated embedded derivatives, reported in earnings 7,603 Reclassification of warrant liability to equity (9,116 ) Conversion of bifurcated embedded derivative into common stock (3,254 ) Balance as of December 31, 2023 $ - |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Net Assets | $ 16,100 | |
Cash Equivalents, at Carrying Value | 1,400 | |
Retained Earnings (Accumulated Deficit) | (28,562) | $ (12,666) |
Working Capital | $ 1,300 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 10,442,000 | $ 8,589,000 | $ 31,595,000 | $ 25,802,000 | |
Advertising Expense | 100,000 | 100,000 | 100,000 | 100,000 | |
Goodwill, Impairment Loss | 0 | 0 | 0 | 0 | |
Impairment of Intangible Assets, Finite-Lived | 0 | 0 | 0 | 0 | |
Cash, FDIC Insured Amount | $ 250,000 | $ 250,000 | |||
Brand and Trade Names [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 10 years | |||
Minimum [Member] | Content Creator [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | 1 year | |||
Maximum [Member] | Content Creator [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | 2 years | |||
Computer Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | |||
Computer Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years | |||
Furniture and Fixtures [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | |||
Furniture and Fixtures [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years | |||
Leasehold Improvements [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | |||
LiveOne [Member] | |||||
Accounts Receivable (Accounts Payable), Net | $ (500,000) | $ (500,000) | $ 1,500,000 | ||
Proceeds from Loans | 8,800,000 | ||||
Barter [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 3,100,000 | $ 2,000,000 | $ 10,700,000 | $ 5,100,000 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Total cash and cash equivalents | $ 1,405 | $ 3,562 | $ 3,969 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Accounts receivable, gross | $ 7,876 | $ 7,062 |
Less: Allowance for credit losses | (60) | (186) |
Accounts receivable, net | $ 7,816 | $ 6,876 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Depreciation | $ 0.1 | $ 0.1 | $ 0.2 | $ 0.1 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Property, Plant and Equipment, Gross | $ 964 | $ 710 |
Less accumulated depreciation and amortization | (655) | (468) |
Total property and equipment, net | 309 | 242 |
Computer Equipment [Member] | ||
Property, Plant and Equipment, Gross | 130 | 113 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross | 14 | 14 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross | 91 | 24 |
Software Development [Member] | ||
Property, Plant and Equipment, Gross | $ 729 | $ 559 |
Note 4 - Goodwill and Intangi_3
Note 4 - Goodwill and Intangible Assets (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Sep. 30, 2023 $ / shares | |
Number of Reporting Units | 1 | ||||
Finder's Fee Payment Capitalized | $ 2,200 | $ 2,200 | |||
Amortization of Intangible Assets | 307 | $ 25 | 523 | $ 76 | |
Finite-Lived Intangible Assets [Member] | |||||
Amortization of Intangible Assets | $ 300 | $ 100 | $ 500 | $ 100 | |
Stock Issued in Exchange for Intangibles [Member] | |||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 8 | $ 8 | $ 8 | ||
Finder's Fee Payment Capitalized | $ 2,300 | $ 2,300 |
Note 4 - Goodwill and Intangi_4
Note 4 - Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands | 9 Months Ended |
Dec. 31, 2023 USD ($) | |
Balance as of March 31, 2023 | $ 12,041 |
Acquisitions | 0 |
Balance as of December 31, 2023 | $ 12,041 |
Note 4 - Goodwill and Intangi_5
Note 4 - Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Finite-Lived Intangible Assets, Gross | $ 4,625 | $ 1,782 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,573 | 1,050 |
Finite-Lived Intangible Assets, Net | 3,052 | 732 |
Content Creator [Member] | ||
Finite-Lived Intangible Assets, Gross | 3,615 | 772 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,219 | 772 |
Finite-Lived Intangible Assets, Net | 2,396 | 0 |
Brand and Trade Names [Member] | ||
Finite-Lived Intangible Assets, Gross | 1,010 | 1,010 |
Finite-Lived Intangible Assets, Accumulated Amortization | 354 | 278 |
Finite-Lived Intangible Assets, Net | $ 656 | $ 732 |
Note 4 - Goodwill and Intangi_6
Note 4 - Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
2024 (remaining three months) | $ 748 | |
2025 | 1,480 | |
2026 | 199 | |
2027 | 199 | |
2028 | 199 | |
Thereafter | 227 | |
Finite-Lived Intangible Assets, Net | $ 3,052 | $ 732 |
Note 5 - Accounts Payable and_3
Note 5 - Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Accounts payable | $ 1,546 | $ 1,541 |
Accrued revenue share | 3,925 | 3,039 |
Other accrued liabilities | 2,331 | 2,318 |
Accounts Payable and Accrued Liabilities | $ 7,802 | $ 6,898 |
Note 6 - PodcastOne Bridge Lo_3
Note 6 - PodcastOne Bridge Loan (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 08, 2023 | Jul. 15, 2023 | Apr. 15, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Conversion, Converted Instrument, Amount | $ 10,276,000 | $ 0 | |||||
Warrants, Embedded Redemption Liability Derivative and Fees | $ 5,800,000 | 5,800,000 | |||||
Amortization of Debt Discount (Premium) | $ 0 | $ 1,400,000 | $ 1,600,000 | 2,600,000 | |||
PC1 Warrants [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | ||||||
Class of Warrant or Right, Outstanding (in shares) | 3,114,000 | 3,114,000 | |||||
PC1 Warrants [Member] | |||||||
Derivative Liability | $ 2,600,000 | $ 2,600,000 | |||||
Unrealized Gain (Loss) on Derivatives | 0 | 200,000 | (6,300,000) | 600,000 | |||
PC1 Warrants [Member] | Reclassified From Liability to Equity [Member] | |||||||
Derivative Liability | $ 9.1 | ||||||
Conversion of Debt into Common Stock [Member] | |||||||
Debt Conversion, Converted Instrument, Amount | $ 7,020,000 | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 2,340,707 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | ||||||
PC1 Bridge Loan [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||
Debt Instrument, Face Amount | $ 8,800,000 | ||||||
Proceeds from Issuance of Debt | 8,000,000 | ||||||
Debt Instrument, Price Benchmark | $ 60,000,000 | ||||||
Debt Instrument, Price, Percentage of Offering Price | 70% | ||||||
Debt Instrument, Redeem, Maximum Percentage of Principal Amount | 45% | ||||||
Debt Instrument, Maximum Redeem Amount | $ 3,000,000 | ||||||
Debt Instrument, Percentage of Warrants Issued | 100% | ||||||
Debt Instrument, Periodic Payment, Principal | $ 1,000,000 | ||||||
Debt Instrument, Annual Principal Payment | $ 2,000,000 | ||||||
Debt Instrument Not Required to Repay of Principal Amount | $ 3,000,000 | ||||||
Repayments of Debt | 3,000,000 | ||||||
Interest Expense, Debt | 0 | 200,000 | 200,000 | 500,000 | |||
PC1 Bridge Loan [Member] | LiveOne [Member] | |||||||
Debt Instrument, Maximum Redeem Amount | $ 3,000,000 | ||||||
Qualified Event, Ownership Benchmark | 66% | ||||||
Debt Instrument, Redeem Amount | $ 1,000,000 | ||||||
Redemption Features [Member] | |||||||
Debt Instrument, Fair Value Disclosure | $ 3,400,000 | ||||||
Redemption Features [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||
Unrealized Gain (Loss) on Derivatives | $ 0 | $ 1,000 | $ 1,300,000 | $ 300,000 |
Note 6 - PodcastOne Bridge Lo_4
Note 6 - PodcastOne Bridge Loan - Valuation Assumption (Details) | Sep. 08, 2023 | Mar. 31, 2023 |
Measurement Input, Simulations [Member] | Redemption Features [Member] | ||
Debt Instrument, Measurement Input | 1,000 | |
Measurement Input, Price Volatility [Member] | PC1 Warrants [Member] | ||
Derivative Liability, Measurement Input | 0.711 | 0.715 |
Measurement Input, Price Volatility [Member] | Redemption Features [Member] | ||
Debt Instrument, Measurement Input | 0.715 | |
Measurement Input, Expected Dividend Rate [Member] | PC1 Warrants [Member] | ||
Derivative Liability, Measurement Input | 0 | 0 |
Measurement Input, Risk Free Interest Rate [Member] | PC1 Warrants [Member] | ||
Derivative Liability, Measurement Input | 0.0443 | 0.0486 |
Measurement Input, Risk Free Interest Rate [Member] | Redemption Features [Member] | ||
Debt Instrument, Measurement Input | 0.0359 | |
Measurement Input, Conversion Price [Member] | Redemption Features [Member] | ||
Debt Instrument, Measurement Input | 1.78 | |
Measurement Input, Share Price [Member] | PC1 Warrants [Member] | ||
Derivative Liability, Measurement Input | 4.39 | 2.64 |
Measurement Input, Share Price [Member] | Redemption Features [Member] | ||
Debt Instrument, Measurement Input | 2.64 | |
Measurement Input, Exercise Price [Member] | PC1 Warrants [Member] | ||
Derivative Liability, Measurement Input | 3 | 2.64 |
Note 7 - Related Party Transa_2
Note 7 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||
Jul. 01, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Common Stock, Shares, Outstanding (in shares) | 23,122,149 | 23,122,149 | 20,000,000 | ||||
Accounts Payable | $ 1,546 | $ 1,546 | $ 1,541 | ||||
Accounts Receivable, after Allowance for Credit Loss | 7,816 | 7,816 | 6,876 | ||||
LiveOne [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 15,700 | ||||||
Class of Warrant or Right, Outstanding (in shares) | 1,100,000 | ||||||
Common Stock, Shares, Outstanding (in shares) | 887,995 | ||||||
Related Party Tax Expense Effect of Change in Allocation Methodology | 300 | $ 100 | 600 | $ 400 | |||
Related Party Transaction, Purchases from Related Party | $ 16,100 | ||||||
Accounts Payable | 3,100 | 3,100 | 2,300 | ||||
Accounts Receivable, after Allowance for Credit Loss | $ 2,600 | $ 2,600 | $ 3,800 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) - USD ($) | 1 Months Ended | |||||
Oct. 13, 2022 | Aug. 31, 2023 | Dec. 31, 2023 | Sep. 08, 2023 | Aug. 28, 2023 | Oct. 12, 2022 | |
Contractual Obligation | $ 600,000 | |||||
Line of Credit Facility, Fair Value of Amount Outstanding | $ 5,000,000 | $ 7,000,000 | ||||
Litigation Settlement, Amount Awarded to Other Party | $ 9,800,000 | |||||
Chief Executive Officer [Member] | ||||||
Employment Contract, Obligation Per Year | $ 400,000 | |||||
LiveOne [Member] | Capchase Loan [Member] | ||||||
Debt Instrument, Face Amount | $ 1,700,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | |||||
Debt Instrument, Term (Month) | 30 months |
Note 9 - Employee Benefit Plan
Note 9 - Employee Benefit Plan (Details Textual) | 9 Months Ended |
Dec. 31, 2023 | |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 100% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 5% |
Note 10 - Stockholders' Equit_2
Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 13 Months Ended | ||||||
Sep. 08, 2023 | Sep. 17, 2020 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 15, 2022 | Sep. 16, 2020 | |
Common Stock, Shares, Cancelled (in shares) | 127,984,230 | 127,984,230 | |||||||
Common Stock, Shares, Outstanding (in shares) | 23,122,149 | 23,122,149 | 20,000,000 | ||||||
Excess Stock, Shares Authorized (in shares) | 110,000,000 | ||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | ||||||||
Adjustments to Additional Paid in Capital, Common Stock Warrants Reclassified to Equity | $ 9,116 | ||||||||
Finder's Fee Payment Capitalized | $ 2,200 | $ 2,200 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 7 years 10 months 2 days | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 7 years 10 months 17 days | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | 0 | |||||||
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, Outstanding, Fair Value | 300 | $ 700 | 300 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Fair Value | $ 100 | 200 | $ 100 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 110,000,000 | 110,000,000 | |||||||
Share-Based Payment Arrangement, Option [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 100 | $ 100 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 9 months | ||||||||
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 2 years | ||||||||
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 100 | $ 100 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 11 months 8 days | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 1,100 | $ 1,500 | |||||||
Live One2016 Equity Incentive Plan [Member] | |||||||||
Common Stock, Capital Shares Reserved for Future Issuance (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 | ||||||||
Podcast One 2022 Equity Plan [Member] | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 4.39 | $ 4.39 | |||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 2,000,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 651,561 | ||||||||
Podcast One 2022 Equity Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,900 | $ 1,900 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 8 months 8 days | ||||||||
Share-Based Payment Arrangement, Expense | $ 900 | ||||||||
Stock Issued in Exchange for Intangibles [Member] | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 8 | $ 8 | $ 8 | ||||||
Finder's Fee Payment Capitalized | $ 2,300 | $ 2,300 | |||||||
Conversion of Debt into Common Stock [Member] | |||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 2,340,707 | ||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 4.39 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | ||||||||
Adjustments to Additional Paid in Capital, Common Stock Warrants Reclassified to Equity | $ 9,100 | ||||||||
Common Stock [Member] | |||||||||
Excess Stock, Shares Authorized (in shares) | 100,000,000 | ||||||||
Adjustments to Additional Paid in Capital, Common Stock Warrants Reclassified to Equity | $ 0 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 100,000,000 | 100,000,000 | |||||||
Preferred Stock [Member] | |||||||||
Excess Stock, Shares Authorized (in shares) | 10,000,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 10,000,000 | 10,000,000 | |||||||
LiveXLive PodcastOne [Member] | |||||||||
Common Stock, Shares, Outstanding (in shares) | 17,000,000 | 17,000,000 | |||||||
Ownership Percentage | 74% | 74% |
Note 10 - Stockholders' Equit_3
Note 10 - Stockholders' Equity - Summary of Stock Option Activity (Details) | 9 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Outstanding, option (in shares) | shares | 240,000 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 2.84 |
Granted, option (in shares) | shares | 15,000 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.75 |
Exercised, option (in shares) | shares | 0 |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 0 |
Forfeited or expired, option (in shares) | shares | (100,000) |
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.2 |
Outstanding, option (in shares) | shares | 155,000 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.86 |
Exercisable, option (in shares) | shares | 128,750 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.56 |
Note 10 - Stockholders' Equit_4
Note 10 - Stockholders' Equity - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Dec. 31, 2023 shares | |
Outstanding, shares (in shares) | 262,500 |
Granted, shares (in shares) | 320,000 |
Outstanding, shares (in shares) | 582,500 |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurements - Fair Value Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Derivative Assets (Liabilities) | $ 4,767 | |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative Assets (Liabilities) | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Derivative Assets (Liabilities) | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Derivative Assets (Liabilities) | 4,767 | |
Warrant Liability on Podcast One Bridge Loan [Member] | ||
Derivative Assets (Liabilities) | $ 0 | 2,817 |
Warrant Liability on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Assets (Liabilities) | 0 | 0 |
Warrant Liability on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Assets (Liabilities) | 0 | 0 |
Warrant Liability on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Assets (Liabilities) | 0 | 2,817 |
Bifurcated Embedded Derivative on Podcast One Bridge Loan [Member] | ||
Derivative Assets (Liabilities) | 0 | 1,950 |
Bifurcated Embedded Derivative on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Assets (Liabilities) | 0 | 0 |
Bifurcated Embedded Derivative on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Assets (Liabilities) | 0 | 0 |
Bifurcated Embedded Derivative on Podcast One Bridge Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Assets (Liabilities) | $ 0 | $ 1,950 |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurements - Reconciliation of Liabilities Measured at Level 3 Within Fair Value Hierarchy (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 9 Months Ended |
Dec. 31, 2023 USD ($) | |
Balance | $ 4,767 |
Change in fair value of bifurcated embedded derivatives, reported in earnings | 7,603 |
Reclassification of warrant liability to equity | (9,116) |
Conversion of bifurcated embedded derivative into common stock | (3,254) |
Balance | $ 0 |