Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Operations and Comprehensive (Loss) Income

v2.4.0.8
Consolidated Statements of Operations and Comprehensive (Loss) Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Net revenues $ 7,033 $ 2,049 $ 19,121 $ 4,252
Cost of revenues        
License fees 4,466 190 11,228 957
Other direct cost of revenues 513 737 1,488 1,018
Total cost of revenues 4,979 927 12,716 1,975
Gross profit 2,054 1,122 6,405 2,277
Operating expenses        
Product development 2,120 577 6,299 1,308
Sales and marketing 555 329 1,569 647
General and administrative 3,567 3,795 10,770 9,386
Total operating expenses 6,242 4,701 18,638 11,341
Loss from operations (4,188) (3,579) (12,233) (9,064)
Interest and other income / (expense)        
Interest expense (4) (536) (3,282) (1,490)
Foreign exchange transaction gain / (loss) 9 (18) 62 (52)
Loss on change in fair value of derivative liabilities loss     (811) (22)
Loss on disposal of fixed assets (1)   (14)  
Gain/ (loss) on settlement of debt 27 (4) 67 (4)
Gain / (loss) on change on valuation of long term contingent liability   (44) 603 (44)
Loss on extinguishment of debt     (442)  
Interest and other income / (expense) 31 (602) (3,817) (1,612)
Loss from operations before income taxes (4,157) (4,181) (16,050) (10,676)
Income tax provision (19) (33) (34) (66)
Net income (4,176) (4,214) (16,084) (10,742)
Other comprehensive income / (loss):        
Foreign currency translation adjustment (63) 49 375 46
Comprehensive loss $ (4,239) $ (4,165) $ (15,710) $ (10,696)
Basic and diluted net loss per common share $ (0.13) $ (0.24) $ (0.63) $ (0.62)
Weighted average common shares outstanding, basic and diluted 31,329 17,797 25,544 17,383