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BUSINESS ACQUISITION (Tables)
6 Months Ended
Sep. 30, 2013
BUSINESS ACQUISITION  
Schedule of total purchase price consideration

Total consideration to acquire Storycode was approximately $5.6 million and comprised of the following (in thousands):

 

Fair value of common stock issued at closing

 

$

3,285

 

Fair value of common stock issuable-subject to the 18-month holdback

 

861

 

Fair value of stock options assumed

 

949

 

Cash consideration paid

 

499

 

Total purchase price

 

$

5,594

 

Schedule of preliminary purchase price allocation

 

 

 

Amount

 

Useful Life
(years)

 

 

 

 

 

 

 

Identifiable intangible assets:

 

 

 

 

 

Trade and domain names

 

$

80

 

10

 

Technology

 

530

 

7

 

Goodwill

 

5,268

 

N/A

 

Net tangible liabilities

 

(284

)

N/A

 

Total purchase price allocation

 

$

5,594

 

 

 

Schedule of pro forma results

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

September 30, 2012

 

September 30, 2012

 

 

 

(in thousands, except per share data)

 

 

 

(unaudited)

 

Net revenue

 

$

3,557

 

$

7,089

 

Net loss

 

$

786

 

$

1,730

 

Net loss per basic and diluted share

 

$

(0.03

)

$

(0.06

)