Intangible Assets and Goodwill

9 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]



		March 31, 2016										June 30, 2015
Description	Amortization Period	Amount			Accumulated Amortization				Carrying Value			Amount			Accumulated Amortization				Carrying Value

Wetpaint technology	60 months		$	4,932		$	(3,184	)		$	1,748		$	10,600		$	(2,336	)		$	8,264
Wetpaint trademarks	276 months		1,423			(404		)		1,019			5,800			(296		)		5,504
Wetpaint customer relationships	60 months		917			(822		)		95			2,000			(617		)		1,383
Wetpaint non-compete agreements	36 months		—			—				—			609			(313		)		296
Choose Digital licenses	60 months		829			(544		)		285			1,740			(355		)		1,385
Choose Digital software	60 months		627			(190		)		437			550			(112		)		438
DraftDay technology	120 months		2,396			(130		)		2,266			—			—				—
Internally generated capitalized software	36 months		—			—				—			1,610			(515		)		1,095
Other	various		326			(16		)		310			326			(8		)		318

Total			$	11,450		$	(5,290	)		$	6,160		$	23,235		$	(4,552	)		$	18,683

See Note 3, Summary of Significant Accounting Policies, for a discussion of the write-downs recorded with respect to intangible assets related to the Wetpaint and Choose Digital businesses in the quarter ended December 31, 2015. The changes in the gross amounts and useful lives of intangibles related to the Wetpaint and Choose Digital businesses, and to internally generated capitalized software, are a result of these write-downs during the three months ended December 31, 2015, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs.

Amortization of intangible assets included in selling, general and administrative expenses for the three and nine months ended March 31, 2016 amounted to $219 and $487, respectively. Amortization of intangible assets included in selling, general and administrative expenses for the three and nine months ended March 31, 2015 amounted to $498 and $718, respectively. Future annual amortization expense expected is as follows:



Years ending June 30,

2016	$	208
2017	$	831
2018	$	834
2019	$	834
2020	$	834

Goodwill consists of the following:



Description	Amount
Balance at July 1, 2015	$	30,632
DraftDay preliminary purchase price allocation	2,622
Wetpaint impairment loss	(15,507		)
Choose Digital impairment loss	(2,095		)
Balance at March 31, 2016	$	15,652

See Note 3, Summary of Significant Accounting Policies, for a discussion of the goodwill impairment losses recorded in relation to Wetpaint and Choose Digital businesses during the three months ended December 31, 2015. There were no impairments recorded during the three months ended March 31, 2016.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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