Related Party Transactions
|12 Months Ended|
Mar. 31, 2016
|Related Party Transactions [Abstract]|
|Related Party Transactions||
On December 28, 2015, DT Media entered into a license with respect to certain of DTM’s intellectual property assets with Sift, in exchange for 9.9% of Sift’s newly-issued Preferred Stock and a cash payment of $1,000. Judson Bowman, a Director at the time of the transaction, is the founder, CEO, and majority shareholder of Sift. Mr Bowman has subsequently stepped down from Digital Turbine's board effective January 25, 2016. For so long as DT Media holds Preferred Stock in Sift, DT Media shall be entitled to nominate for election one member of the five-member Board of Sift, which DT Media nominated as director Bill Stone, CEO of Digital Turbine.
The investment in Sift’s Preferred Stock is recorded at cost, equal to its fair value at the date of issuance of $999.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef