RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 14 –RELATED PARTY TRANSACTIONS

Stingray is part of the group of investors who participated in the August 2021 Private Placement and acquired a minority interest in the Company. Stingray has designated one Director who served on the Company’s Board of Directors (see Note 11 – August 2021 Private Placement ).

DUE TO/FROM RELATED PARTIES

On December 31, 2022 and March 31, 2022, the Company had amounts due from Stingray of approximately $282,000 and $152,000, respectively for shared revenue from music content provided to our customers from Stingray’s library of produced and licensed karaoke content.

TRADE

The Company has a music subscription sharing agreement with Stingray. For the three months ended December 31, 2022 and 2021 the Company received music subscription revenue of approximately $201,000 and $160,000, respectively. For the nine months ended December 31, 2022 and 2021 the Company received music subscription revenue of approximately $456,000 and $384,000, respectively. These amounts were included as a component of net sales in the accompanying condensed consolidated statements of operations.