Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2016
Mar. 31, 2016
Current assets        
Cash $ 6,302 $ 6,149 $ 9,412 $ 11,231
Restricted cash 331 331    
Accounts receivable, net of allowances of $671 and $597, respectively 20,136 16,554    
Deposits 121 121    
Prepaid expenses and other current assets 582 510    
Total current assets 27,472 23,665    
Property and equipment, net 2,453 2,377    
Deferred tax assets 352 352    
Intangible assets, net 3,975 4,565    
Goodwill 76,621 76,621    
TOTAL ASSETS 110,873 107,580    
Current liabilities        
Accounts payable 20,263 19,868    
Accrued license fees and revenue share 9,952 8,529    
Accrued compensation 1,267 1,073    
Secured line of credit, net of debt issuance costs and discounts of $307 and $0, respectively 1,943 0    
Other current liabilities 1,773 1,304    
Total current liabilities 35,198 30,774    
Convertible notes, net of debt issuance costs and discounts of $5,975 and $6,315, respectively 10,025 9,685    
Other non-current liabilities 849 782    
Total liabilities 52,138 45,535    
Stockholders' equity        
Preferred stock 100 100    
Common stock 8 8    
Additional paid-in capital 300,453 299,580    
Treasury stock (754,599 shares at June 30 and March 31, 2017) (71) (71)    
Accumulated other comprehensive loss (329) (321)    
Accumulated deficit (241,426) (237,251)    
Total stockholders' equity 58,735 62,045    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 110,873 107,580    
Convertible note embedded derivative liability        
Current liabilities        
Derivative liability 4,526 3,218    
Warrant liability        
Current liabilities        
Derivative liability $ 1,540 $ 1,076    

Source

v3.7.0.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]    
Net revenues $ 26,120 $ 24,039
Cost of revenues    
License fees and revenue share 18,881 19,224
Other direct cost of revenues 623 1,880
Total cost of revenues 19,504 21,104
Gross profit 6,616 2,935
Operating expenses    
Product development 2,758 2,835
Sales and marketing 1,558 1,444
General and administrative 3,824 5,105
Total operating expenses 8,140 9,384
Loss from operations (1,524) (6,449)
Interest and other income / (expense), net    
Interest expense, net (707) (682)
Foreign exchange transaction loss (144) (3)
Change in fair value of convertible note embedded derivative liability (1,308) 0
Change in fair value of warrant liability (464) 0
Other income 3 18
Total interest and other income / (expense), net (2,620) (667)
Income / (loss) from operations before income taxes (4,144) (7,116)
Income tax provision 31 296
Net income / (loss) (4,175) (7,412)
Other comprehensive income / (loss)    
Foreign currency translation adjustment (8) 27
Comprehensive income / (loss) $ (4,183) $ (7,385)
Basic and diluted net loss per common share (in usd per share) $ (0.06) $ (0.11)
Weighted average common shares outstanding, basic and diluted (shares) 66,599 66,286

Source

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net loss $ (4,175) $ (7,412)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 888 2,094
Change in allowance for doubtful accounts 75 (109)
Amortization of debt discount and debt issuance costs 353 342
Accrued interest 344 1
Stock-based compensation 788 1,223
Restricted shares and warrants compensation for services rendered 76 80
Change in fair value of convertible note embedded derivative liability 1,308 0
Change in fair value of warrant liability 464 0
(Increase) / decrease in assets:    
Accounts receivable (3,656) 1,980
Deposits 0 66
Prepaid expenses and other current assets (72) 89
Increase / (decrease) in liabilities:    
Accounts payable 395 (169)
Accrued license fees and revenue share 1,423 419
Accrued compensation 194 (72)
Other current liabilities 124 372
Other non-current liabilities 67 0
Net cash used in operating activities (1,404) (1,096)
Cash flows from investing activities    
Capital expenditures (374) (472)
Net cash used in investing activities (374) (472)
Cash flows from financing activities    
Proceeds from short-term borrowings 2,250 0
Payment of debt issuance costs (320) (280)
Options exercised 9 2
Net cash provided by (used in) financing activities 1,939 (278)
Effect of exchange rate changes on cash (8) 27
Net change in cash 153 (1,819)
Cash, beginning of period 6,149 11,231
Cash, end of period $ 6,302 $ 9,412

Source

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