Segment Information

12 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

Note 14. Segment Information

Segment Information —The Company’s CODM has been identified as the Chief Executive Officer, who reviews the operating results and financial metrics for the Company to make decisions about allocating resources and assessing financial performance. We have one segment manager who reports directly to the CODM. The Company operates as one operating segment, Telecommunications, which provides broadband internet, voice over internet protocol (VOIP), and video services within service areas located primarily in Northwest and North Central Ohio. Customers include residential clients and commercial clients. In previous years, the Company had a consumer finance segment, however, this is now reported within discontinued operations for the periods presented (refer to Note 13 for further details).

The CODM uses segment operating income (loss) and assets to assess performance and allocate resources at the Telecommunications operating segment, which excludes corporate and discontinued operations of the Company. We define operating income (loss) as revenues less operating expenses. Operating expenses include cost of wireless and fiber internet services, cost of other revenue (exclusive of depreciation shown separately), plant specific and nonspecific operations expenses, general and administrative expenses, and depreciation and amortization expenses.

Costs incurred at corporate generally include legal, salary and wages for the executive management team, professional fees for services received, human resources, finance, and taxes.

The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies.

Reported segment revenue, segment operating income (loss), and significant segment expenses for the year ended March 31, 2025 are as follows (note: this segment was acquired during the current fiscal year and therefore no comparative results are disclosed):

2025 ($ in thousands)	Telecommunications
Telecommunications Segment Revenue
Wireless internet services	$	5,432
Fiber internet services		2,600
Other revenue		1,334
Total revenue		9,366
Operating expenses
General and administrative		4,406
Depreciation and amortization		1,960
Plant specific operations		1,240
Plant nonspecific operations		771
Cost of other revenue (exclusive of depreciation shown separately)		638
Cost of wireless and fiber internet services (exclusive of depreciation shown separately)		548
Marketing		256
Total segment operating expenses		9,819
Telecommunications segment operating loss		(453	)
Other segment items1		95
Segment loss before income taxes and discontinued operations		(358	)
Reconciliation to consolidated net loss before income taxes and discontinued operations:
Corporate overhead and other income
General and administrative		(6,407	)
Marketing		(52	)
Depreciation and amortization		(47	)
Interest income, net		1,379
Emigration tax (expense)		(1,711	)
(Loss) on dissenting shareholders' liability		(1,103	)
Gain on lease settlement		14
Loss on sale of assets		(1	)
Other income (expense)		(2	)
Consolidated net loss before income taxes and discontinued operations	$	(8,288	)

1. Other segment items included in Segment operating loss include interest expense, gain on the sale of assets, and other income.

Assets by segment as of March 31, 2025 are as follows:

	March 31,
($ in thousands)	2025
Telecommunications operating segment assets	$	53,994
Corporate assets		23,678
Total Assets	$	77,672