PodcastOne Files 2024 10-K: Assets $23.6M, Liabilities $20M

TL;DR

PodcastOne's 2024 10-K shows $23.6M assets vs $20M liabilities. Formerly Courtside Group.

AI Summary

PodcastOne, Inc. filed its 10-K for the fiscal year ending March 31, 2024. The company reported total assets of $23,608,049 and total liabilities of $20,000,000. PodcastOne, Inc. was formerly known as Courtside Group, Inc. before changing its name on July 29, 2022.

Why It Matters

This filing provides a snapshot of PodcastOne's financial health as of March 31, 2024, which is crucial for investors to assess the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company has a significant amount of liabilities relative to its assets, which could indicate financial strain.

Key Numbers

• $23.6M — Total Assets (As of March 31, 2024)
• $20.0M — Total Liabilities (As of March 31, 2024)
• 03-31 — Fiscal Year End (The reporting period concluded on this date in 2024)

Key Players & Entities

• PodcastOne, Inc. (company) — Filer of the 10-K
• Courtside Group, Inc. (company) — Former name of PodcastOne, Inc.
• 2024-03-31 (date) — Fiscal year end date
• $23,608,049 (dollar_amount) — Total assets reported
• $20,000,000 (dollar_amount) — Total liabilities reported

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common stock, $0.00001 par value per share PODC The NASDAQ
• $43.3 million — arch 31, 2024 and 2023, our revenue was $43.3 million and $34.6 million, respectively, repres
• $34.6 m — 2023, our revenue was $43.3 million and $34.6 million, respectively, representing year-
• $34.6 million — Our Ad-Supported Service has grown from $34.6 million in revenue for the year ended March 31,

Filing Documents

• podc20240331_10k.htm (10-K) — 1756KB
• ex_681410.htm (EX-4.3) — 31KB
• ex_680852.htm (EX-23.1) — 2KB
• ex_680858.htm (EX-31.1) — 10KB
• ex_680859.htm (EX-31.2) — 10KB
• ex_680860.htm (EX-32.1) — 5KB
• ex_680861.htm (EX-32.2) — 5KB
• ex_680857.htm (EX-97.1) — 24KB
• img001.jpg (GRAPHIC) — 46KB
• indexchart.jpg (GRAPHIC) — 33KB
• overviewchart.jpg (GRAPHIC) — 25KB
• 0001437749-24-021729.txt ( ) — 7586KB
• podc-20240331.xsd (EX-101.SCH) — 57KB
• podc-20240331_cal.xml (EX-101.CAL) — 47KB
• podc-20240331_def.xml (EX-101.DEF) — 421KB
• podc-20240331_lab.xml (EX-101.LAB) — 386KB
• podc-20240331_pre.xml (EX-101.PRE) — 456KB
• podc20240331_10k_htm.xml (XML) — 953KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 56 Item 1C. Cybersecurity 56 Item 2.

Properties

Properties 56 Item 3.

Legal Proceedings

Legal Proceedings 56 Item 4. Mine Safety Disclosures 56 PART II 57 Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 57 Item 6. [Reserved] Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 58 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 1 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 29 Item 9A.

Controls and Procedures

Controls and Procedures 29 Item 9B. Other Information 31 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 31 PART III 32 Item 10. Directors, Executive Officers and Corporate Governance 32 Item 11.

Executive Compensation

Executive Compensation 32 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 32 Item 13. Certain Relationships and Related Transactions, and Director Independence 32 Item 14. Principal Accounting Fees and Services 32 PART IV 32 Item 15. Exhibits, Financial Statement Schedules 32 Item 16. Form 10-K Summary 33

SIGNATURES

SIGNATURES 1 Table of Contents Use of Market and Industry Data This Annual Report on Form 10-K (this "Annual Report") includes market and industry data that we have obtained from third party sources, including industry publications, as well as industry data prepared by our management on the basis of its knowledge of and experience in the industries in which we operate (including our management's estimates and assumptions relating to such industries based on that knowledge). Management has developed its knowledge of such industries through its experience and participation in these industries. While our management believes the third-party sources referred to in this Annual Report are reliable, neither we nor our management have independently verified any of the data from such sources referred to in this Annual Report or ascertained the underlying economic assumptions relied upon by such sources. Furthermore, references in this Annual Report to any publications, reports, surveys or articles prepared by third parties should not be construed as depicting the complete findings of the entire publication, report, survey or article. The information in any such publication, report, survey or article is not incorporated by reference in this Annual Report. Forecasts and other forward-looking information obtained from these sources involve risks and uncertainties and are subject to change based on various factors, including those discussed in sections entitled "Forward-Looking Statements," "Item 1A. Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report. Trademarks, Service Marks and Trade Names This Annual Report contains references to our trademarks, service marks and trade names and to trademarks, service marks and trade names belonging to other entities. Solely for convenience, trademarks, service marks and trade names referred to in this Annual Report, including logos, artwork and o

Business

Item 1. Business Overview PodcastOne (the "Company," "PodcastOne," "we," "us" or "our") is a leading podcast platform and publisher that makes its content available to audiences via all podcasting distribution platforms, including PodcastOne's website (www.podcastone.com), Apple Podcasts, Spotify, Amazon Music and more. We are a majority owned subsidiary of LiveOne, Inc., a Delaware corporation and a Nasdaq-listed company ("LiveOne"). We have recently been ranked #13 on the list of Top Podcast Publishers by the podcast metric company Podtrac. On September 8, 2023, we completed our spin-out from LiveOne, Inc., our parent and a Nasdaq listed company ("LiveOne"), and our direct listing on The Nasdaq Capital Market (the "Spin-Out") and our shares of common stock began trading on the Nasdaq under the symbol of "PODC". On September 21, 2023, we changed our corporate name to "PodcastOne, Inc." After the completion of the Spin-Out, we became a standalone publicly traded company trading on The Nasdaq Capital Market. We remain a majority owned subsidiary of LiveOne. We intend to mitigate risk by acquiring multiple assets over time and across a broad spectrum of podcast related media and companies. We intend to develop these assets to provide returns via organic growth, revenue production, out-licensing or sale. As a result of the completion of the spin-out of our Company from LiveOne, we became a standalone publicly traded company trading on The NASDAQ Capital Market. We remain a majority owned subsidiary of LiveOne, a Nasdaq listed company. We intend to mitigate risk by acquiring multiple assets over time and across a broad spectrum of podcast related media and companies. We intend to develop these assets to provide returns via organic growth, revenue production, out-licensing, sale or spin out. We also produce vodcasts (video podcasts), branded podcasts, merchandise, and live events on behalf of our talent and clients. With a proven 360-degree advertiser solution for

View Full Filing

View this 10-K filing on SEC EDGAR