v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows used in operating activities:    
Net income (loss) $ (164,730) $ (803)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 746 1,695
Net amortization of debt premium and discount (related party of $772 and $296) 772 296
Loss on impairment of goodwill and intangible assets 3,100 3,692
Accrual (release) of loss contingency related to arbitration award 62,831 (54,973)
Gain (loss) on financial instruments, net (related party of $(9,491) and $552) (9,774) 2,242
Investment (income) loss, net 49,532 6,500
Non cash interest expense (related party of $11,827 and $9,715) 17,151 12,214
Non cash interest income (385) (494)
Non cash share-based compensation 1,629 5,649
Provision for credit losses 1,048 1,000
Provision for deferred taxes 214 80
(Gain) loss on liability resolution (1,996) (23,462)
Changes in assets and liabilities:    
Changes in other assets 1,204 (32,784)
Changes in accounts payable and accrued expenses (59) 41,445
Net cash used in operating activities (38,717) (37,703)
Cash flows from investing activities:    
Return of investments in alternative assets held by Customer ExAlt Trusts 12,062 30,368
Proceeds from disposition of alternative assets held by Customer ExAlt Trusts 51,480 0
Purchase of investments in alternative assets held by Customer ExAlt Trusts (2,238) (1,219)
Purchase of premises and equipment (96) (1,099)
Proceeds from sale of public equity securities held by Customer ExAlt Trusts 0 55
Net cash provided by investing activities 61,208 28,105
Cash flows from financing activities:    
Proceeds from related party debt financings 850 1,675
Payments on related party debt financings (22,850) (4,675)
Proceeds from issuance of convertible debt 0 3,575
Payments on convertible debt 0 (4,000)
Proceeds received from issuance of Class A common under standby equity purchase agreement 706 7,859
Payment of deferred financing costs for equity 0 (2,140)
Proceeds from sale of Class A common shares 0 673
Net cash provided by (used in) financing activities (21,294) 2,967
Net increase (decrease) in cash and cash equivalents 1,197 (6,631)
Cash and cash equivalents at beginning of period 1,346 7,977
Cash and cash equivalents at end of period $ 2,543 $ 1,346