Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
 12 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Financial Results of Discontinued Operations
The following table summarizes the financial results of our discontinued operations for all periods presented herein:
Condensed Statements of Operations and Comprehensive Loss
For Discontinued Operations
(in thousands, except per share amounts)
Year ended March 31,
2020 2019
Net revenues $ —  $ 3,970 
Total costs of revenues (1,202) 1,788 
Product development 60  732 
Sales and marketing —  350 
General and administrative 1,433  2,671 
Loss from operations (291) (1,571)
Interest and other income / (expense), net (89) (137)
Loss from discontinued operations before income taxes (380) (1,708)
Income tax provision / (benefit) —  — 
Loss from discontinued operations, net of taxes (380) (1,708)
Foreign currency translation adjustment —  — 
Comprehensive loss (380) (1,708)
Basic and diluted net loss per common share $ —  $ (0.02)
Weighted-average common shares outstanding, basic 84,594  77,440 
Weighted-average common shares outstanding, diluted 89,558  77,440 
The following table provides reconciling cash flow information for our discontinued operations:
Year ended March 31,
2020 2019
Cash flows from operating activities
Net loss from discontinued operations, net of taxes (380) (1,708)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization 19  279 
Change in allowance for doubtful accounts (1,589) 1,011 
Loss on disposal of fixed assets 109  — 
Stock-based compensation —  37 
(Increase) / decrease in assets:
Accounts receivable 3,472  5,119 
Goodwill —  309 
Prepaid expenses and other current assets —  54 
Increase / (decrease) in liabilities:
Accounts payable (3,158) (5,631)
Accrued license fees and revenue share (537) (2,522)
Accrued compensation (226) (303)
Other current liabilities (3) (346)
Cash used in operating activities (2,293) (3,701)
Cash used in discontinued operations (2,293) (3,701)