Note 12 - Related Party Transactions |
12 Months Ended |
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Mar. 31, 2026 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
Note 12 — Related Party Transactions
As of March 31, 2022, the Company had unsecured 8.5% Senior Secured Convertible Notes previously issued to Trinad Capital (as defined below). In February 2023, the Trinad Notes along with accrued interest thereunder were converted into 6,177 shares of Series A Preferred Stock, with a stated value of $1,000 per share of Series A Preferred Stock and convertible at $21.00 per share, and Trinad Capital also received 200,000 shares of the Company's common stock. On April 1, 2024, Trinad Capital converted 3,395.09 shares of Series A Preferred Stock into 161,671 shares of the Company’s common stock and received 53,540 -year warrants to purchase the Company’s common stock exercisable at a price of $21.00 per share. For the fiscal years ended March 31, 2026 and 2025, the Company issued 205.19 and 802.20 shares of its Series A Preferred Stock, respectively, to Trinad Capital as dividend payments required by the terms of the Series A Preferred Stock. As of March 31, 2026, Trinad Capital owned 2,253.99 shares of Series A Preferred Stock.
On September 8, 2023, PodcastOne completed its Direct Listing on the Nasdaq Capital Market which resulted in the Company owning 15,672,186 shares of common stock of PodcastOne along with 1,100,000 warrants to purchase shares of PodcastOne's common stock with an exercise price of $3.00 per share, which remain outstanding as of March 31, 2026. Also, on this date, PodcastOne issued 147,044 shares of PodcastOne common stock to the Company's CEO as a result of his ownership of the Company's preferred stock.
During the years ended March 31, 2026 and 2025, the Company issue or reserved 2,562 and 12,343 shares of common stock with a value of $0.1 million and $0.1 million to relatives of the CEO for services performed, respectively.
During the year ended March 31, 2026 and 2025, the Company received 906,189 and 1,315,880 shares of PodcastOne common stock with a fair value of $1.7 million and $2.5 million, respectively, in exchange for services provided by the Company to PodcastOne and for amounts owed under a cost sharing agreement between PodcastOne and the Company.
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