Attached files
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| 8-K - 8-K - Digital Turbine, Inc. | d547319d8k.htm |
Exhibit 99.1
MANDALAY DIGITAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
| Unaudited April 30, 2013 |
Unaudited December 31, 2012 |
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| ASSETS |
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| Current assets |
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| Cash and cash equivalents |
$ | 2,296 | $ | 1,641 | ||||
| Accounts receivable, net of allowance for doubtful accounts |
5,109 | 2,079 | ||||||
| Deposits |
568 | 607 | ||||||
| Prepaid expenses and other current assets |
567 | 258 | ||||||
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| Total current assets |
8,540 | 4,585 | ||||||
| Property and equipment, net |
776 | 201 | ||||||
| Intangible assets, net |
11,568 | 4,976 | ||||||
| Goodwill |
5,023 | 4,537 | ||||||
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| TOTAL ASSETS |
$ | 25,907 | $ | 14,299 | ||||
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| LIABILITIES AND STOCKHOLDERS’ EQUITY |
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| Current liabilities |
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| Accounts payable |
$ | 5,995 | $ | 3,795 | ||||
| Accrued license fees |
669 | 1,000 | ||||||
| Accrued compensation |
1,241 | 507 | ||||||
| Current portion of long term debt, net of discounts |
3,775 | 2,826 | ||||||
| MIA Sellers short term debt |
2,404 | — | ||||||
| Other current liabilities |
2,235 | 651 | ||||||
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| Total currrent liabilities |
16,319 | 8,779 | ||||||
| Long term debt and convertible debt, net of discounts |
1,392 | 1,750 | ||||||
| Long term contingent liability, less discount |
819 | 802 | ||||||
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| Total liabilities |
$ | 18,530 | $ | 11,331 | ||||
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| Stockholders’ equity |
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| Preferred stock |
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| Series A convertible preferred stock at $0.0001 par value; 20,000 shares authorized, issued and outstanding (liquidation preference of $5,000,000) |
100 | 100 | ||||||
| Common stock, $0.0001 par value: 40,000,000 shares authorized; 18,241,208 issued and 17,486,608 outstanding at December 31, 2012; 16,701,389 issued and 15,946,789 outstanding at March 31, 2012; |
7 | 7 | ||||||
| Additional paid-in capital |
149,041 | 141,265 | ||||||
| Treasury Stock (754,600 shares at December 31, 2012 and March 31, 2012) |
(71 | ) | (71 | ) | ||||
| Accumulated other comprehensive loss |
(226 | ) | (148 | ) | ||||
| Accumulated deficit |
(141,474 | ) | (138,185 | ) | ||||
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| Total stockholders’ equity |
7,377 | 2,968 | ||||||
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| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ | 25,907 | $ | 14,299 | ||||
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