Reservoir Media Inc
For the period ended Mar 31, 2024. Filed May 30, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 30, 2024
RSVR$10.29-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| | Fiscal Year Ended March 31, | |||||
|---|---|---|---|---|---|---|
| · · 2024 · 2023 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net income | | $837,261 | | $2,779,633 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | |||
| Amortization of intangible assets | | 24,743,082 | | 21,894,754 | ||
| Depreciation of property, plant and equipment | | 242,606 | | 180,143 | ||
| Share-based compensation | | 3,386,543 | | 3,202,642 | ||
| Non-cash interest charges | | 1,339,413 | | 2,071,932 | ||
| Loss on early extinguishment of debt | | | — | | | 914,040 |
| Loss (gain) on fair value of swaps | | 1,124,770 | | (2,765,082) | ||
| Impairment of equity investment | | | 991,105 | | | — |
| Share of loss (earnings) of equity affiliates, net of tax | | 100,000 | | (34,131) | ||
| Dividend from equity affiliates | | — | | 62,306 | ||
| Deferred income taxes | | (220,936) | | 5,250,590 | ||
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | (1,971,515) | | (6,044,931) | ||
| Inventory and prepaid expenses | | (842,393) | | (1,417,051) | ||
| Royalty advances | | (2,745,666) | | (9,913,746) | ||
| Other assets and liabilities | | 736,801 | | (369,722) | ||
| Accounts payable and accrued liabilities | | 8,237,314 | | 15,264,856 | ||
| Income taxes payable | | 234,165 | | 127,491 | ||
| Net cash provided by operating activities | | 36,192,550 | | 31,203,724 | ||
| | | | | | | |
| Cash flows from investing activities: | | | | |||
| Purchases of music catalogs | | (50,127,625) | | (71,824,744) | ||
| Investments in affilitates | | (200,000) | | — | ||
| Purchase of property, plant and equipment | | (225,677) | | (406,402) | ||
| Net cash used for investing activities | | (50,553,302) | | (72,231,146) | ||
| | | | | | | |
| Cash flows from financing activities: | | | ||||
| Proceeds from secured line of credit | | 34,000,000 | | 42,182,694 | ||
| Repayments of secured line of credit | | (16,000,000) | | — | ||
| Proceeds from stock option exercises | | 288,543 | | 288,551 | ||
| Taxes paid related to net share settlement of restricted stock units | | | (689,152) | | | (475,880) |
| Deferred financing costs paid | | (39,387) | | (3,533,254) | ||
| Net cash provided by financing activities | | 17,560,004 | | 38,462,111 | ||
| | | | | | | |
| Foreign exchange impact on cash | | 30,687 | | (346,905) | ||
| | | | | | | |
| Increase (decrease) in cash and cash equivalents | | 3,229,939 | | (2,912,216) | ||
| Cash and cash equivalents beginning of period | | 14,902,076 | | 17,814,292 | ||
| Cash and cash equivalents end of period | | $18,132,015 | | $14,902,076 | ||
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