Subsequent Events |
12 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | 11. SUBSEQUENT EVENTS
On April 27, 2026, the Company agreed to issue shares of Common Stock in exchange for an aggregate of the holder’s 3.118 shares of Series A Preferred Stock. The exchange will be made in five (5) equal tranches, and commenced on May 1, 2026. The number of shares of Common Stock issuable in each tranche is to be calculated by dividing the value of the shares of Series A Preferred Stock being exchanged by the 5-day volume weighted average price ending on the trading day preceding the exchange. The Company is authorized to issue up to 1,500,000 shares of Common Stock under the Exchange Agreement. Upon the exchange of each tranche, the shares of Series A Preferred Stock so exchanged will be immediately retired and restored to the status of authorized but unissued preferred stock.
On May 7, 2026, we acquired the remaining outstanding ownership interests in CONtv from the minority interest holders in exchange for a total of 380,238 shares of the Common Stock and $89 thousand of cash payments. As a result of these transactions, CONtv became a wholly-owned subsidiary of the Company.
Effective May 1, 2026, the Company entered into a lease for New York, NY office location. The lease term ends on May 31, 2029. The lease contained standard and customary terms which included a security deposit of $96 thousand among other amounts due at lease execution date. The monthly base rent installment escalates over the term of the lease from $19 thousand to $20 thousand per month at the end of the lease term.
Effective May 1, 2026, the Company entered into a lease for its Burbank, CA office location. The lease term ends on June 30, 2029. The lease contained standard and customary terms which included a security deposit of $38 thousand among other amounts due at lease execution date.The monthly rent installment of base rent escalates over the term of the lease from $35 thousand, after an initial four month introductory rate, to $38 thousand per month at the end of the lease term. |