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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Current Assets    
Cash and cash equivalents $ 3,955 $ 5,167
Accounts receivable, net of allowance for credit losses of $114 and $269, respectively 9,262 8,667
Unbilled revenue 4,596 6,439
Employee retention tax credit 79 1,671
Content advances 12,226 9,345
Other current assets 1,413 1,432
Total current assets 31,531 32,721
Property and equipment, net 2,722 2,276
Intangible assets, net 18,238 18,328
Goodwill 6,799 6,799
Content advances, net of current portion 1,655 2,551
Other long-term assets 1,397 1,703
Total Assets 62,342 64,378
Current Liabilities    
Accounts payable and accrued expenses 20,247 20,817
Line of credit, including unamortized debt issuance costs of $127 and $81, respectively 4,690 6,301
Current portion of deferred consideration on purchase of business 3,539 3,114
Earnout consideration on purchase of business 180 180
Current portion of operating lease liabilities 338 401
Deferred revenue 332 436
Total current liabilities 32,429 31,249
Deferred consideration on purchase of business, net of current portion   457
Operating lease liabilities, net of current portion 418 462
Other long-term liabilities 58 59
Total Liabilities 32,905 32,227
Commitments and contingencies (see Note 6)
Stockholders’ Equity    
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 7 shares issued and 7 shares outstanding at June 30, 2024 and March 31, 2024. 3,559 3,559
Common Stock, $0.001 par value; Class A Stock: 275,000,000 shares authorized as of June 30, 2024, and March 31, 2024; 16,081,458 and 15,985,620 shares issued, with 15,608,410 and 15,699,135 shares outstanding as of June 30, 2024 and March 31, 2024, respectively. 194 194
Additional paid-in capital 546,554 545,996
Treasury stock, at cost; 473,049 and 288,554 shares at June 30, 2024 and March 31, 2024, respectively. (12,166) (11,978)
Accumulated deficit (507,315) (504,153)
Accumulated other comprehensive loss (290) (345)
Total stockholders' equity of Cineverse Corp. 30,536 33,273
Deficit attributable to noncontrolling interest (1,099) (1,122)
Total equity 29,437 32,151
Total Liabilities and Equity 62,342 $ 64,378
Terrifier 3 Financing [Member]    
Current Liabilities    
Term Loan, including unamortized debt issuance costs of $131 and $0, respectively $ 3,103