Financials

v3.19.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Mar. 31, 2019
Current assets    
Cash $ 16,222 $ 10,894
Restricted cash 165 165
Accounts receivable, net of allowances of $961 and $895, respectively 22,733 22,707
Prepaid expenses and other current assets 1,511 1,331
Current assets held for disposal 1,817 2,026
Total current assets 42,448 37,123
Property and equipment, net 3,748 3,430
Right-of-use assets 2,168  
Deferred tax assets 85 40
Goodwill 42,268 42,268
TOTAL ASSETS 90,717 82,861
Current liabilities    
Accounts payable 18,916 14,912
Accrued license fees and revenue share 12,833 16,205
Accrued compensation 1,456 2,441
Other current liabilities 1,922 826
Current liabilities held for disposal 3,654 3,924
Total current liabilities 38,781 38,308
Other non-current liabilities 2,178 182
Total liabilities 53,484 46,503
Stockholders' equity    
Preferred stock - Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1,000) 100 100
Common stock - $0.0001 par value: 200,000,000 shares authorized; 83,222,158 issued and 82,487,702 outstanding at June 30, 2019; 82,354,940 issued and 81,620,484 outstanding at March 31, 2019 10 10
Additional paid-in capital 335,389 332,793
Treasury stock (754,599 shares at June 30, 2019 and March 31, 2019) (71) (71)
Accumulated other comprehensive income / (loss) (258) (356)
Accumulated deficit (297,937) (296,118)
Total stockholders' equity 37,233 36,358
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 90,717 82,861
Warrant liability    
Current liabilities    
Warrant liability $ 12,525 $ 8,013

Source

v3.19.2
Consolidated Statements of Operations and Comprehensive Income / (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]    
Net revenues $ 30,553 $ 22,112
Cost of revenues    
License fees and revenue share 18,275 15,216
Other direct costs of revenues 278 507
Total cost of revenues 18,553 15,723
Gross profit 12,000 6,389
Operating expenses    
Product development 2,794 3,109
Sales and marketing 2,278 1,836
General and administrative 3,888 2,704
Total operating expenses 8,960 7,649
Income / (loss) from operations 3,040 (1,260)
Interest and other income / (expense), net    
Interest expense 0 (319)
Foreign exchange transaction gain / (loss) (1) 8
Change in fair value of convertible note embedded derivative liability 0 1,620
Change in fair value of warrant liability (5,226) 1,570
Other income / (expense) 409 (127)
Total interest and other income / (expense), net (4,818) 2,752
Income / (loss) from continuing operations before income taxes (1,778) 1,492
Income tax benefit (107) (36)
Income / (loss) from continuing operations, net of taxes (1,671) 1,528
Loss from discontinued operations (148) (1,044)
Net income / (loss) (1,819) 484
Foreign currency translation adjustment 98 0
Comprehensive income / (loss) $ (1,721) $ 484
Basic and diluted net income / (loss) per common share    
Continuing operations (in dollars per share) $ (0.02) $ 0.02
Discontinued operations (in dollars per share) 0.00 (0.01)
Net income / (loss) (in dollars per share) $ (0.02) $ 0.01
Weighted-average common shares outstanding, basic (in shares) 81,814 76,204
Weighted-average common shares outstanding, diluted (in shares) 81,814 79,598

Source

v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income / (loss) from continuing operations, net of taxes $ (1,671) $ 1,528
Adjustments to reconcile net income / (loss) from continuing operations to net cash provided by / (used in) operating activities:    
Depreciation and amortization 462 729
Change in allowance for doubtful accounts 66 278
Non-cash interest expense 0 161
Stock-based compensation 560 463
Stock-based compensation for services rendered 122 85
Change in fair value of convertible note embedded derivative liability 0 (1,620)
Change in fair value of warrant liability 5,226 (1,570)
(Increase) / decrease in assets:    
Accounts receivable (92) (2,574)
Deferred tax assets (45) (36)
Prepaid expenses and other current assets (151) (52)
Right-of-use assets (2,168)  
Increase / (decrease) in liabilities:    
Accounts payable 3,982 (1,603)
Accrued license fees and revenue share (3,347) 3,259
Accrued compensation (993) (1,781)
Other current liabilities 1,096 344
Other non-current liabilities 1,997 (6)
Net cash provided by / (used in) operating activities - continuing operations 5,044 (2,395)
Net cash used in operating activities - discontinued operations (230) (1,224)
Net cash provided by / (used in) operating activities 4,814 (3,619)
Cash flows from investing activities    
Capital expenditures (783) (411)
Net cash used in investing activities - continuing operations (783) (411)
Net cash used in investing activities - discontinued operations 0 (41)
Net cash used in investing activities (783) (452)
Cash flows from financing activities    
Options and warrants exercised 1,199 39
Repayment of debt obligations 0 (50)
Net cash provided by / (used in) financing activities 1,199 (11)
Effect of exchange rate changes on cash 98 0
Net change in cash 5,328 (4,082)
Cash and restricted cash, beginning of year 11,059 13,051
Cash and restricted cash, end of year 16,387 8,969
Supplemental disclosure of cash flow information    
Interest paid $ 0 $ 26

Source

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