XML 46 R36.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Restatement of Previously Issued Financial Statements - Consolidated Cash Flow Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net income (loss) $ 715 $ 2,881 $ (421) $ 5,568
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation and amortization     3,391 1,611
Share based compensation     3,489 3,217
Deferred income taxes     (146) (815)
Bad debt expense     36 66
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:        
Accounts receivable     (345) 257
Inventories - finished goods     3,237 (1,567)
Prepaid income taxes     426 86
Prepaid expenses and other current assets     (3,516) (597)
Operating lease right-of-use assets, net     394 0
Accounts payable     (5,542) (3,520)
Sales tax payable     (1,278) 1,894
Accrued expenses and other current liabilities     (136) (1,092)
Lease liabilities     (383) 0
Deferred memberships fees received     579 0
Net cash (used in) provided by operating activities     (215) 5,108
Cash flows from investing activities:        
Purchase of minority interest investment in Vetster     0 (5,000)
Acquisition of PetCareRx, net of cash acquired     (35,859) 0
Purchases of property and equipment     (2,137) (2,336)
Net cash used in investing activities     (37,996) (7,336)
Cash flows from financing activities:        
Dividends paid     (12,404) (12,306)
Net cash used in financing activities     (12,404) (12,306)
Net decrease in cash and cash equivalents     (50,615) (14,534)
Cash and cash equivalents, at beginning of year     104,086 111,080
Cash and cash equivalents, at end of year 53,471 96,546 53,471 96,546
Supplemental disclosure of cash flow information:        
Cash paid for income taxes     0 2,560
Dividends payable in accrued expenses     1,513 856
As Previously Reported        
Cash flows from operating activities:        
Net income (loss) (70) 2,579 (957) 5,354
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation and amortization     3,391 1,611
Share based compensation     3,489 3,217
Deferred income taxes     (81) (389)
Bad debt expense     36 66
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:        
Accounts receivable     (345) 257
Inventories - finished goods     3,237 (1,567)
Prepaid income taxes     426 86
Prepaid expenses and other current assets     (3,516) (597)
Operating lease right-of-use assets, net     394 0
Accounts payable     (5,542) (3,520)
Sales tax payable     0 0
Accrued expenses and other current liabilities     (943) 590
Lease liabilities     (383) 0
Deferred memberships fees received     579 0
Net cash (used in) provided by operating activities     (215) 5,108
Cash flows from investing activities:        
Purchase of minority interest investment in Vetster     0 (5,000)
Acquisition of PetCareRx, net of cash acquired     (35,859) 0
Purchases of property and equipment     (2,137) (2,336)
Net cash used in investing activities     (37,996) (7,336)
Cash flows from financing activities:        
Dividends paid     (12,404) (12,306)
Net cash used in financing activities     (12,404) (12,306)
Net decrease in cash and cash equivalents     (50,615) (14,534)
Cash and cash equivalents, at beginning of year     104,086 111,080
Cash and cash equivalents, at end of year 53,471 96,546 53,471 96,546
Supplemental disclosure of cash flow information:        
Cash paid for income taxes     0 2,560
Dividends payable in accrued expenses     1,513 856
Restatement Adjustments        
Cash flows from operating activities:        
Net income (loss) 785 302 536 214
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation and amortization     0 0
Share based compensation     0 0
Deferred income taxes     (65) (426)
Bad debt expense     0 0
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:        
Accounts receivable     0 0
Inventories - finished goods     0 0
Prepaid income taxes     0 0
Prepaid expenses and other current assets     0 0
Operating lease right-of-use assets, net     0 0
Accounts payable     0 0
Sales tax payable     (1,278) 1,894
Accrued expenses and other current liabilities     807 (1,682)
Lease liabilities     0 0
Deferred memberships fees received     0 0
Net cash (used in) provided by operating activities     0 0
Cash flows from investing activities:        
Purchase of minority interest investment in Vetster     0 0
Acquisition of PetCareRx, net of cash acquired     0 0
Purchases of property and equipment     0 0
Net cash used in investing activities     0 0
Cash flows from financing activities:        
Dividends paid     0 0
Net cash used in financing activities     0 0
Net decrease in cash and cash equivalents     0 0
Cash and cash equivalents, at beginning of year     0 0
Cash and cash equivalents, at end of year $ 0 $ 0 0 0
Supplemental disclosure of cash flow information:        
Cash paid for income taxes     0 0
Dividends payable in accrued expenses     $ 0 $ 0