# EDGAR Filing Document

**Accession Number:** 0001940177
**File Stem:** 0000000000-23-003053
**Filing Date:** 2023-3
**Character Count:** 18068
**Document Hash:** 4d15e451b8f4e99d31f5579322bd0a2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-003053.hdr.sgml**: 20230613

**ACCESSION NUMBER**: 0000000000-23-003053

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230327

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Courtside Group, Inc.
- **CENTRAL INDEX KEY:** 0001940177
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **IRS NUMBER:** 352503373
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 335 NORTH MAPLE DRIVE
- **STREET 2:** #127
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90210
- **BUSINESS PHONE:** 310-858-0888

**MAIL ADDRESS:**
- **STREET 1:** 335 NORTH MAPLE DRIVE
- **STREET 2:** #127
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Courtside Group, Inc
- **DATE OF NAME CHANGE:** 20220727
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-22-082965

## Text-Extract

```

United States securities and exchange commission logo

                     March 27, 2023

       Kit Gray
       President
       Courtside Group, Inc.
       335 N. Maple Drive, Suite 127
       Beverly Hills, California 90210

                                                        Re: Courtside Group,
Inc.
                                                            Amendment No. 1 to
Registration Statement on Form S-1
                                                            Filed March 13,
2023
                                                            File No. 333-269028

       Dear Kit Gray:

             We have reviewed your amended registration statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
January 31, 2023 letter.
 Kit Gray
FirstName  LastNameKit
Courtside Group, Inc. Gray
Comapany
March      NameCourtside Group, Inc.
       27, 2023
March2 27, 2023 Page 2
Page
FirstName LastName
Amendment No. 1 to Registration Statement on Form S-1

Summary Unaudited Pro Forma Condensed Consolidated Financial and Operating
Data, page 21

1.       We note your revised presentation in response to prior comment 8.
Please address the
         following:
             Revise to remove the reference to "Pro Forma" in the header to the
Summary
              Condensed Consolidated Financial and Operating Data. In this
regard, only some of
              the information presented is pro forma. Also, ensure that the
paragraphs before the
              tables clearly indicate what information is presented on an
actual versus a pro forma
              basis.
             It's unclear why you have removed historical comparable financial
information from
              these tables. Please revise to include the appropriate historical
comparable statement
              of operations and cash flow information as previously provided.
Ensure any restated
              periods are appropriately labeled as restated.
             Footnote (3) on page 22 still makes reference to the period from
July 1, 2020 to
              March 31, 2021 and the period from April 1, 2020 to June 30,
2020. Please revise to
              remove these references as pro forma information for those
periods is no longer
              presented.
2.       We note your additional disclosure in footnote (3) in response to
prior comment 9 and
         your disclosure on page 130, which indicates that these shares give no
effect to Mandatory
         Redemption that was triggered as of February 15, 2023. Since
redemption of $1 million
         of the Bridge Notes has occurred, tell us your basis for excluding the
impact in your pro
         forma presentation and share amounts throughout, or revise.
Non-GAAP Financial Measures, page 24

3.       We note your revisions in response to prior comment 12. Please revise
to reconcile from
         GAAP gross profit to Non-GAAP contribution margin. In this regard,
revise your
         reconciliation to be consistent with what was included in the initial
filing, which began
         with gross profit and ended with contribution margin. Refer to
Question 102.10(b) of the
         Non-GAAP C&DIs. Further, revise the sentence above the table to state
this is the
         reconciliation of Contribution Margin to Gross Profit, the most
comparable GAAP
         financial measure. Similar revisions should be made on page 86.
 Kit Gray
FirstName  LastNameKit
Courtside Group, Inc. Gray
Comapany
March      NameCourtside Group, Inc.
       27, 2023
March3 27, 2023 Page 3
Page
FirstName LastName
Risk Factors
Risks Relating to Our Common Stock and the Securities Market
The trading price of our common stock...may have little or no relationship to
the historical sales
prices of our capital stock in private..., page 64

4.       We note your response to prior comment 19 clarifying that other than
the sale of the
         Bridge Notes, there have not been any private transactions of the
Company   s common
         stock in the recent past and that its common stock does not have a
history of trading. We
         also note your disclosure that, "there is no recent price history for
our common stock
         being sold in private transactions and accordingly, the sale price
history or historical
         private sales will not be a factor affecting the current reference
price to be determined by
         the Nasdaq Capital Market." Given that your Bridge Notes will
automatically convert to
         the Company's common stock, please reconcile this conflicting
information or advise.
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Key Business Metric, page 85

5.       We note your response to prior comment 21 and reissue it. We note your
disclosure that
         you review a number of operating and financial metrics to evaluate
your business,
         measure your performance, identify trends affecting your business,
formulate business
         plans, and make strategic decisions. Tell us your consideration for
disclosing the number
         of impressions sold in each period, monthly unique listeners, monthly
average listeners
         and/or any other measures used to evaluate your business and measure
performance, in
         addition to Number of Podcast Downloads disclosed, that would provide
a better
         understanding of the company   s results. Refer to SEC Release No.
33-10751.
Liquidity and Capital Resources, page 91

6.       We note your disclosure on page F-29 regarding additional interim
financing and when
         you believe existing cash resources will not be sufficient to meet
current operating and
         liquidity needs. Please revise your disclosures here to incorporate
this information.
PodcastOne is a Leading Podcasting Company, page 99

7.       We note your disclosure that you    are the most partner friendly
network out there.    Please
         revise to provide the basis for this statement.
Plan of Distribution, page 142

8.       We note your response to prior comments 7 and 32. Please explain the
precise order and
         mechanics of the events that will occur to effect the contemplated
transactions.
 Kit Gray
FirstName  LastNameKit
Courtside Group, Inc. Gray
Comapany
March      NameCourtside Group, Inc.
       27, 2023
March4 27, 2023 Page 4
Page
FirstName LastName
Consolidated Financial Statements
Note 2 - Summary of Significant Accounting Policies
Gross Versus Net Revenue Recognition, page F-9

9.       We note your revised disclosure in response to prior comment 35.
Please further revise to
         clarify who the agency is in your "agency contracts". Also, you
disclose that revenue is
         reported on a gross basis but does not include any revenue sharing
expenses, however,
         in the last sentence you stated revenue is gross of revenue sharing
expenses. Please revise
         to address this apparent inconsistency. Similar revisions should be
made on page F-31.
Allowance for Doubtful Accounts, page F-11

10.      Please revise to remove your reference to "membership" receivables
here and on page F-
         33. In this regard, since you indicate in response to prior comment 34
that you do not
         have membership revenue, it would appear you would not have membership
receivables.
Condensed Unaudited Interim Financial Statements
Note 15 - Subsequent Events, page F-46

11.      Please revise to disclose that as part of the exchange agreement
LiveOne entered into on
         February 3, 2023, PodcastOne issued 162,338 shares of common stock to
the Harvest
         Funds, as disclosed on page 128.
General

12.      We note that in February 2023, LiveOne obtained a valuation report.
Please file the report
         as an exhibit. Refer to Item 601(b)(10) of Regulation S-K.

        You may contact Melissa Kindelan, Senior Staff Accountant, at (202)
551-3564 or
Christine Dietz, Senior Staff Accountant, at (202) 551-3408 if you have
questions regarding
comments on the financial statements and related matters. Please contact Kyle
Wiley, Staff
Attorney, at (202) 344-5791 or Matthew Crispino, Staff Attorney at (202)
551-3456 with any
other questions.

                                                              Sincerely,

                                                              Division of
Corporation Finance
                                                              Office of
Technology
cc:      Sasha Ablovatskiy

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

March 27, 2023

Kit Gray  
President  
Courtside Group, Inc.  
335 N. Maple Drive, Suite 127  
Beverly Hills, California 90210

**Re: Courtside Group, Inc.**  
**Amendment No. 1 to Registration Statement on Form S-1**  
**Filed March 13, 2023**  
**File No. 333-269028**

Dear Kit Gray:

We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our January 31, 2023 letter.

Kit Gray
Courtside Group, Inc.
March 27, 2023
Page 2

# Amendment No. 1 to Registration Statement on Form S-1

# Summary Unaudited Pro Forma Condensed Consolidated Financial and Operating Data, page 21

1. We note your revised presentation in response to prior comment 8. Please address the following:
- Revise to remove the reference to "Pro Forma" in the header to the Summary Condensed Consolidated Financial and Operating Data. In this regard, only some of the information presented is pro forma. Also, ensure that the paragraphs before the tables clearly indicate what information is presented on an actual versus a pro forma basis.
- It's unclear why you have removed historical comparable financial information from these tables. Please revise to include the appropriate historical comparable statement of operations and cash flow information as previously provided. Ensure any restated periods are appropriately labeled as restated.
- Footnote (3) on page 22 still makes reference to the period from July 1, 2020 to March 31, 2021 and the period from April 1, 2020 to June 30, 2020. Please revise to remove these references as pro forma information for those periods is no longer presented.
2. We note your additional disclosure in footnote (3) in response to prior comment 9 and your disclosure on page 130, which indicates that these shares give no effect to Mandatory Redemption that was triggered as of February 15, 2023. Since redemption of $1 million of the Bridge Notes has occurred, tell us your basis for excluding the impact in your pro forma presentation and share amounts throughout, or revise.

# Non-GAAP Financial Measures, page 24

3. We note your revisions in response to prior comment 12. Please revise to reconcile from GAAP gross profit to Non-GAAP contribution margin. In this regard, revise your reconciliation to be consistent with what was included in the initial filing, which began with gross profit and ended with contribution margin. Refer to Question 102.10(b) of the Non-GAAP C&DIs. Further, revise the sentence above the table to state this is the reconciliation of Contribution Margin to Gross Profit, the most comparable GAAP financial measure. Similar revisions should be made on page 86.

Kit Gray  
Courtside Group, Inc.  
March 27, 2023  
Page 3

### Risk Factors

#### Risks Relating to Our Common Stock and the Securities Market

#### The trading price of our common stock...may have little or no relationship to the historical sales prices of our capital stock in private..., page 64

4. We note your response to prior comment 19 clarifying that other than the sale of the Bridge Notes, there have not been any private transactions of the Company's common stock in the recent past and that its common stock does not have a history of trading. We also note your disclosure that, 'there is no recent price history for our common stock being sold in private transactions and accordingly, the sale price history or historical private sales will not be a factor affecting the current reference price to be determined by the Nasdaq Capital Market.' Given that your Bridge Notes will automatically convert to the Company's common stock, please reconcile this conflicting information or advise.

#### Management's Discussion and Analysis of Financial Condition and Results of Operations

#### Key Business Metric, page 85

5. We note your response to prior comment 21 and reissue it. We note your disclosure that you review a number of operating and financial metrics to evaluate your business, measure your performance, identify trends affecting your business, formulate business plans, and make strategic decisions. Tell us your consideration for disclosing the number of impressions sold in each period, monthly unique listeners, monthly average listeners and/or any other measures used to evaluate your business and measure performance, in addition to Number of Podcast Downloads disclosed, that would provide a better understanding of the company's results. Refer to SEC Release No. 33-10751.

#### Liquidity and Capital Resources, page 91

6. We note your disclosure on page F-29 regarding additional interim financing and when you believe existing cash resources will not be sufficient to meet current operating and liquidity needs. Please revise your disclosures here to incorporate this information.

#### PodcastOne is a Leading Podcasting Company, page 99

7. We note your disclosure that you 'are the most partner friendly network out there.' Please revise to provide the basis for this statement.

#### Plan of Distribution, page 142

8. We note your response to prior comments 7 and 32. Please explain the precise order and mechanics of the events that will occur to effect the contemplated transactions.

Kit Gray
Courtside Group, Inc.
March 27, 2023
Page 4

# Consolidated Financial Statements

# Note 2 - Summary of Significant Accounting Policies

# Gross Versus Net Revenue Recognition, page F-9

9. We note your revised disclosure in response to prior comment 35. Please further revise to clarify who the agency is in your "agency contracts". Also, you disclose that revenue is reported on a gross basis but does not include any revenue sharing expenses, however, in the last sentence you stated revenue is gross of revenue sharing expenses. Please revise to address this apparent inconsistency. Similar revisions should be made on page F-31.

# Allowance for Doubtful Accounts, page F-11

10. Please revise to remove your reference to "membership" receivables here and on page F-33. In this regard, since you indicate in response to prior comment 34 that you do not have membership revenue, it would appear you would not have membership receivables.

# Condensed Unaudited Interim Financial Statements

# Note 15 - Subsequent Events, page F-46

11. Please revise to disclose that as part of the exchange agreement LiveOne entered into on February 3, 2023, PodcastOne issued 162,338 shares of common stock to the Harvest Funds, as disclosed on page 128.

# General

12. We note that in February 2023, LiveOne obtained a valuation report. Please file the report as an exhibit. Refer to Item 601(b)(10) of Regulation S-K.

You may contact Melissa Kindelan, Senior Staff Accountant, at (202) 551-3564 or Christine Dietz, Senior Staff Accountant, at (202) 551-3408 if you have questions regarding comments on the financial statements and related matters. Please contact Kyle Wiley, Staff Attorney, at (202) 344-5791 or Matthew Crispino, Staff Attorney at (202) 551-3456 with any other questions.

Sincerely,

Division of Corporation Finance
Office of Technology

cc: Sasha Ablovatskiy