Capital Structure and Share Issuance - The company amended its Memorandum and Articles to increase its authorized share capital from 230 million shares to 5 billion shares[144]. - The company issued 3.8 billion restricted common shares to the Lytus Trust for management and employee services[145]. - The company sold 965 million common shares at a price of $0.016 per share, generating gross proceeds of $15.44 million[146]. Business Expansion and Services - The company aims to expand its business by offering additional online services, targeting underserved areas in India due to low internet penetration[148]. - The company plans to enhance its service platform by investing in technology and expanding into new geographic markets[152]. - The company launched its Fintech business in 2023, focusing on converting cash collections into e-wallet payments and offering additional services like credit cards and microloans[166]. - The company is developing telemedicine solutions to address unmet medical needs in rural India, leveraging its existing fiber-optic network[163]. - The company is actively pursuing the provision of IPTV and broadband services to enhance revenue and customer loyalty, having obtained an Internet Service Provider License[384]. Financial Performance - Total revenue for the fiscal year ended March 31, 2024, was $23,003,342, representing a 19% increase from $19,393,329 in the previous year[335]. - Revenue from contracts with customers increased by $2,355,591 or 12%, totaling $21,363,775 for the fiscal year ended March 31, 2024[336]. - Subscription income grew by 7% to $14,955,197, while carriage/placement fees surged by 59% to $5,410,248[337]. - Other income saw a significant increase of 326%, reaching $1,639,567, primarily due to the reversal of finance costs related to warrants liability[336]. - Net income for the fiscal year ended March 31, 2024, was $1,439,610, a 33% increase from $1,078,491 in the previous year[332]. Cost Management - Cost of revenue increased by 21% to $16,762,580, reflecting the growth in operational scale[332]. - Interest expenses decreased by 71% to $638,957, down from $2,210,404, indicating improved financial management[332]. - Staffing expenses rose to $844,098 for the fiscal year ended March 31, 2024, reflecting an increase of $210,119 or 33% from $633,979 in 2023, primarily due to increased deployment of device boxes[344]. - Amortization and depreciation costs increased by $230,260 or 33% to $926,484 for the fiscal year ended March 31, 2024, attributed to additions in property, plant, and equipment[346]. Regulatory Compliance - The company is subject to extensive governmental laws and regulations in both the United States and India, particularly in the areas of streaming and telemedicine[192]. - The company must comply with the Cable Television Networks (Regulation) Act, 1995, which regulates the operation of cable television networks in India[196]. - The company is required to adhere to the Standards of Quality of Service (Digital Addressable Cable TV Systems) Regulations, 2012, ensuring timely responses to subscriber complaints[203]. - The company faces potential regulatory changes that could increase the regulatory burden on its products and services[192]. - The company must navigate complex state laws regarding the corporate practice of medicine and fee-splitting, which vary significantly and can lead to legal challenges[230]. Intellectual Property and Legal Matters - The company is in the process of registering its intellectual property rights to protect its business interests and competitive position[187]. - As of March 31, 2025, the company has applied for one trademark for the name "Lytus" and for two domain names in India and overseas[188]. - The company is not currently involved in any legal proceedings that are likely to have a material adverse effect on its business or financial position[190]. - The company is committed to protecting its technology and proprietary rights, although there are no assurances of success in these efforts[187]. Cash Flow and Financing Activities - Net cash provided by operating activities for the fiscal year ended March 31, 2024, was $886,034, a decrease from $1,153,335 in 2023[370]. - Net cash used in investing activities was $3,651,681 for the fiscal year ended March 31, 2024, compared to $12,920,014 in 2023[370]. - Net cash provided by financing activities was $2,705,230 for the fiscal year ended March 31, 2024, down from $11,655,402 in 2023[370]. - The company expects to utilize free cash flow and cash on hand for business growth, including potential mergers and acquisitions[366]. - The company plans to evaluate cash deployment for business growth, including potential mergers and acquisitions, stock repurchases, and dividends[381].
Lytus Technologies PTV. .(LYT) - 2025 Q4 - Annual Report