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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Mar. 31, 2024
Current Assets    
Cash and cash equivalents $ 2,429 $ 5,167
Accounts receivable, net of allowance for credit losses of $84 and $269, respectively 14,814 15,106
Employee retention tax credit 79 1,671
Content advances 10,788 9,345
Other current assets 2,069 1,432
Total current assets 30,179 32,721
Property and equipment, net 2,932 2,276
Intangible assets, net 17,937 18,328
Goodwill 6,799 6,799
Content advances, net of current portion 1,472 2,551
Other long-term assets 1,281 1,703
Total Assets 60,600 64,378
Current Liabilities    
Accounts payable and accrued expenses 19,928 20,817
Line of credit, including unamortized debt issuance costs of $180 and $81, respectively 4,637 6,301
Current portion of deferred consideration on purchase of business 3,040 3,114
Earnout consideration on purchase of business 0 180
Current portion of operating lease liabilities 273 401
Deferred revenue 352 436
Total current liabilities 31,377 31,249
Deferred consideration on purchase of business, net of current portion   457
Operating lease liabilities, net of current portion 371 462
Other long-term liabilities 61 59
Total Liabilities 31,809 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 September 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 September 30, 2024, and March 31, 2024; 16,287,824 and 15,985,620 shares issued, with 15,786,074 and 15,699,135 shares outstanding as of September 30, 2024 and March 31, 2024, respectively 194 194
Additional paid-in capital 547,234 545,996
Treasury stock, at cost; 503,819 and 288,554 shares as of September 30, 2024 and March 31, 2024, respectively (12,193) (11,978)
Accumulated deficit (508,691) (504,153)
Accumulated other comprehensive loss (297) (345)
Total stockholders' equity of Cineverse Corp. 29,806 33,273
Deficit attributable to noncontrolling interest (1,015) (1,122)
Total equity 28,791 32,151
Total Liabilities and Equity 60,600 $ 64,378
Terrifier 3 Financing [Member]    
Current Liabilities    
Term loan, including unamortized debt issuance costs of $87 and $0, respectively $ 3,147