RhythmOne plc

 

On the Company discontinued its Non-Core business operations. This included ceasing the operations of its consumer business activities and the sale of certain assets and specific liabilities of Prime Visibility Media Group (“”). The results of these operations are presented as discontinued operations in the Group’s Income Statement. Management committed to a plan to discontinue Non-Core operations and sell certain assets and specific liabilities of PVMG in and the disposals were finalized on There have been discontinued operations for the year ended Results of the discontinued operations for the years ended and are as follows:

 

		YEAR ENDED MARCH 31, 2018 $000’s				YEAR ENDED MARCH 31, 2017 $000’s				YEAR ENDED MARCH 31, 2016 $000’s
Revenue			—				26,356				50,657
Cost of revenue			—				(13,779	)			(27,750	)
Operating expenses			—				(13,480	)			(40,007	)
Loss before tax and loss on other items			—				(903	)			(17,100	)
Finance expense			—				—				(3	)
Loss on disposition of assets			—				(3,858	)			—
Loss before income taxes			—				(4,761	)			(17,103	)
Income tax (charge) credit			—				—				377
Loss from discontinued operations			—				(4,761	)			(16,726	)

 

		CENTS				CENTS				CENTS
LOSS PER SHARE ATTRIBUTABLE TO RHYTHMONE PLC
BASIC			—				(1.13	)			(4.15	)
DILUTED			—				(1.13	)			(4.15	)

 

 

		YEAR ENDED MARCH 31, 2018 $000’s				YEAR ENDED MARCH 31, 2017 $000’s				YEAR ENDED MARCH 31, 2016 $000’s
Net cash from (used in) operating activities			—				(776	)			5,439
Net cash from (used in) investing activities			—				948				(206	)
Net cash used in financing activities			—				(438	)			(5,791	)
Net cash used in discontinued operations			—				(266	)			(558	)

 

 

		MARCH 31, 2017 $000’ s
Consideration received from the purchaser:
Cash consideration received			1,064
Deferred sales proceeds (a)			2,450
Total Consideration Received			3,514

 

 

 

		MARCH 31, 2017 $000’ s
Assets disposed of:
Prepaid expenses			14
Property plant and equipment			15
Intangible assets			922
Goodwill			6,121
Total Assets Disposed Of			7,072

 

 

		MARCH 31, 2017 $000’ s
Consideration received			3,514
Transaction costs			(300	)
Net assets of PVMG disposed of			(7,072	)
Total Loss on Disposition			(3,858	)

 

 

		MARCH 31, 2017 $000’ s
Consideration received, satisfied in cash			1,064
Transaction costs			(300	)
Net Cash Inflow on Disposition			764