Note 10 - Related Party Transactions

3 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 10 — Related Party Transactions

As of March 31, 2022, the Company had unsecured convertible Trinad Notes outstanding which were issued to Trinad Capital. In February 2023, the Trinad Notes along with accrued interest were converted into 6,177 shares of Series A Preferred Stock in addition to 200,000 shares of common stock. 3,813 shares of Series A Preferred Stock was outstanding as of June 30, 2024. In April 2023 and July 2023, the Company issued 116 and 192 shares of its Series A Preferred Stock, respectively, to Trinad Capital as dividend payments required by the terms of the 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 in PodcastOne along with 1,100,000 common stock warrants to purchase shares of PodcastOne's common stock as of March 31, 2024. 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 three months ended June 30, 2024 and the year ended  March 31, 2024, the Company received 200,000 and 159,333 shares of PodcastOne Common stock with a fair value of $0.4 million $0.3 million, respectively, in exchange for amounts owed under a cost sharing arrangement between PodcastOne and the Company.

During the three months ended June 30, 2024 and 2023, the Company issue or reserved 46,113 and 149,496 shares of common stock with a value of $0.1 million and $0.2 million to a relative of the CEO for services performed, respectively.