Digital Turbine (APPS) 8-K Other Events

Exhibit 99.1

MANDALAY DIGITAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

	Unaudited April 30, 2013			Unaudited December 31, 2012
ASSETS
Current assets
Cash and cash equivalents	$	2,296		$	1,641
Accounts receivable, net of allowance for doubtful accounts		5,109			2,079
Deposits		568			607
Prepaid expenses and other current assets		567			258
Total current assets		8,540			4,585
Property and equipment, net		776			201
Intangible assets, net		11,568			4,976
Goodwill		5,023			4,537
TOTAL ASSETS	$	25,907		$	14,299
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	5,995		$	3,795
Accrued license fees		669			1,000
Accrued compensation		1,241			507
Current portion of long term debt, net of discounts		3,775			2,826
MIA Sellers short term debt		2,404			—
Other current liabilities		2,235			651
Total currrent liabilities		16,319			8,779
Long term debt and convertible debt, net of discounts		1,392			1,750
Long term contingent liability, less discount		819			802
Total liabilities	$	18,530		$	11,331
Stockholders’ equity
Preferred stock
Series A convertible preferred stock at $0.0001 par value; 20,000 shares authorized, issued and outstanding (liquidation preference of $5,000,000)		100			100
Common stock, $0.0001 par value: 40,000,000 shares authorized; 18,241,208 issued and 17,486,608 outstanding at December 31, 2012; 16,701,389 issued and 15,946,789 outstanding at March 31, 2012;		7			7
Additional paid-in capital		149,041			141,265
Treasury Stock (754,600 shares at December 31, 2012 and March 31, 2012)		(71	)		(71	)
Accumulated other comprehensive loss		(226	)		(148	)
Accumulated deficit		(141,474	)		(138,185	)
Total stockholders’ equity		7,377			2,968
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	25,907		$	14,299