EX-5.1

Exhibit 5.1

  Reed Smith LLP 599 Lexington Avenue 22^nd Floor New York, New York 10022
+1 212 521 5400
Fax +1 212 521 5450 reedsmith.com

February 3, 2017

Function(x) Inc.
902 Broadway, 11^th Floor

New York, NY 10010

Ladies and Gentlemen:

This opinion is furnished to you in connection with the Registration Statement on Form S-1, File No. 333-215267 (the “Registration Statement”), filed by Function(x) Inc., a Delaware corporation (the “Company”), with the Securities and Exchange Commission on even date herewith in connection with the registration under the Securities Act of 1933, as amended, of an aggregate of $11,500,000 in shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) as further described in the Registration Statement. The shares of Common Stock are to be sold pursuant to an underwriting agreement (the “Underwriting Agreement”) to be entered into by and between the Company and Aegis Capital Corp. (the “Representative”), as representative of the several underwriters named in Schedule I thereto (the “Underwriters”), the form of which agreement is filed as an exhibit to the Registration Statement. The shares of Common Stock are being registered for sale to the Underwriters by the Company. The Company is also registering warrants to purchase shares of common stock to be issued to the Representative (the “Representative’s Warrant”) as well as an aggregate of up to $312,500 in shares of common stock issuable upon exercise of the Representative’s Warrant (the “Representative’s Warrant Shares”). This opinion is being rendered in connection with the filing of the Registration Statement. All capitalized terms used herein and not otherwise defined shall have the respective meanings given to them in the Registration Statement.

We are acting as counsel for the Company in connection with the registration of Common Stock by the Company.

In rendering the opinions set forth herein, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable.

In such examination, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all items submitted to us as originals, the conformity with originals of all items submitted to us as copies, and the authenticity of the originals of such copies. As to any facts material to the opinions expressed herein, we have relied upon statements and representations of officers and other representatives of the Company and public officials.

NEW YORK ¨ LONDON ¨ HONG KONG ¨ CHICAGO ¨ WASHINGTON, D.C. ¨ BEIJING ¨ PARIS ¨ LOS ANGELES ¨ SAN FRANCISCO ¨ PHILADELPHIA ¨ SHANGHAI ¨ PITTSBURGH ¨ HOUSTON SINGAPORE ¨ MUNICH ¨ ABU DHABI ¨ PRINCETON ¨ NORTHERN VIRGINIA ¨ WILMINGTON ¨ SILICON VALLEY ¨ DUBAI ¨ CENTURY CITY ¨ RICHMOND ¨ GREECE ¨ KAZAKHSTAN

Function(x) Inc. February 3, 2017 Page 2  

This opinion is based solely on the General Corporation Law of the State of Delaware (including all related provisions of the Delaware Constitution and all reported judicial decisions interpreting the Delaware General Corporation Law and the Delaware Constitution) and the laws of the State of New York.

Based on the foregoing and in reliance thereon and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that:

1.          The shares of Common Stock have been duly authorized by the Company and when issued by the Company to the Underwriters in accordance with the terms of the Underwriting Agreement, including receipt of the consideration therefor, will be validly issued, fully paid and non-assessable.

2.          The Representative’s Warrant when issued by the Company in accordance with the terms of the Underwriting Agreement will be a valid and binding obligation of the Company.

We consent to the inclusion of this opinion as an exhibit to the Registration Statement and further consent to all references to us under the caption “Legal Matters” in the Prospectus. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.

Very truly yours,

/s/  Reed Smith LLP

REED SMITH LLP

EX-23.1

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

Function(x) Inc.
New York, New York

We hereby consent to the use in the Prospectus constituting a part of this Registration Statement of our report dated October 11, 2016, relating to the consolidated financial statements of Function(x) Inc. (formerly known as Viggle Inc.) as of June 30, 2016 and 2015 and for each of the years then ended, which is contained in that Prospectus. Our report contains an explanatory paragraph regarding the Company’s ability to continue as a going concern.

We also consent to the reference to us under the caption “Experts” in the Prospectus.

New York, New York

February 3, 2017

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Document and Entity Information	3 Months Ended
	Sep. 30, 2016
Document And Entity Information
Entity Registrant Name	Function(x) Inc.
Entity Central Index Key	0000725876
Document Type	S-1/A
Document Period End Date	Sep. 30, 2016
Amendment Flag	true
Amendment Description	Updated for Q1 2017 financial statements
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company

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CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Current assets:
Cash	$ 827,000
Cash and cash equivalents	827,000	$ 537,000	$ 4,217,000
Marketable securities	0	2,495,000	0
Accounts receivable (net of allowance for doubtful accounts of $20 at June 30, 2016 and 2015)	383,000	307,000	838,000
Prepaid expenses	53,000	226,000	483,000
Other receivables	127,000	114,000	661,000
Other current assets	14,000	110,000	0
Current assets of discontinued operations	20,000	39,000	3,431,000
Total current assets	1,424,000	3,828,000	9,630,000
Restricted cash	435,000	440,000	695,000
Property & equipment, net	1,337,000	1,414,000	2,334,000
Intangible assets, net	10,229,000	5,339,000	18,683,000
Goodwill	18,859,000	11,270,000	24,722,000
Other assets	786,000	748,000	270,000
Non-current assets of discontinued operations		0	13,895,000
Total assets	33,070,000	23,039,000	70,229,000
Current liabilities:
Accounts payable and accrued expenses	9,484,000	11,625,000	10,040,000
Deferred revenue	682,000	637,000	593,000
Current portion of loans payable	8,853,000	8,996,000	1,575,000
Current liabilities of discontinued operations	2,830,000	2,851,000	13,278,000
Total current liabilities	21,849,000	24,109,000	25,486,000
Loans payable, less current portion	0	19,716,000
Loans payable, less current portion		19,716,000	22,516,000
Deferred revenue	3,229,000	3,429,000	3,854,000
Common stock warrant liability	1,510,000	10,000
Common stock warrant liability		10,000	10,000
Other long-term liabilities	929,000	951,000	1,678,000
Non-current liabilities of discontinued operations	0	0	538,000
Total liabilities	27,517,000	48,215,000	54,082,000
Commitments and contingencies	0	0	0
Stockholders' (deficit) equity:
Convertible Preferred Stock	33,912,000
Common stock, $0.001 par value: authorized 300,000,000 shares, issued and outstanding 3,056,353 and 3,023,753 shares as of September 30, 2016 and June 30, 2016, respectively	3,000	3,000	1,000
Additional paid-in-capital	410,995,000	409,765,000	383,607,000
Treasury stock, 10,758 shares at June 30, 2016 and 2015	(11,916,000)	(11,916,000)	(11,916,000)
Accumulated deficit	(435,650,000)	(428,380,000)	(367,360,000)
Accumulated other comprehensive loss	0	(361,000)	0
Non-controlling interest	609,000	773,000	0
Total stockholders' (deficit) equity		(30,116,000)	4,332,000
Total stockholders' equity/(deficit)	5,553,000	(25,176,000)
Total liabilities, convertible redeemable preferred stock and stockholders' (deficit) equity	33,070,000	23,039,000	70,229,000
Series E Convertible Preferred Stock
Stockholders' (deficit) equity:
Convertible Preferred Stock	7,600,000	0
Series A Convertible Preferred Stock
Current liabilities:
Series A Convertible Redeemable Preferred Stock, $1,000 stated value, authorized 100,000 shares, issued and outstanding -0- shares as of September 30, 2016 and June 30, 2016	0	0
Series A Convertible Redeemable Preferred Stock
Current liabilities:
Series A Convertible Redeemable Preferred Stock, $1,000 stated value, authorized 100,000 shares, issued and outstanding -0- shares as of September 30, 2016 and June 30, 2016		0	0
Series C Convertible Preferred Stock
Current liabilities:
Series A Convertible Redeemable Preferred Stock, $1,000 stated value, authorized 100,000 shares, issued and outstanding -0- shares as of September 30, 2016 and June 30, 2016		4,940,000	11,815,000
Stockholders' (deficit) equity:
Convertible Preferred Stock		4,940,000
Series B Convertible Preferred Stock
Stockholders' (deficit) equity:
Convertible Preferred Stock	0	0	0
Series D Preferred Stock
Stockholders' (deficit) equity:
Convertible Preferred Stock	$ 0	$ 0	$ 0

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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Allowance for doubtful accounts	$ 20	$ 20	$ 20
Common stock, par value (usd per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000	300,000,000
Common stock, shares issued (in shares)	3,056,353	3,023,753	1,169,156
Common stock, shares outstanding (in shares)	3,056,353	3,023,753	1,169,156
Treasury stock (in shares)	10,758	10,758	10,758
Series A Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred Stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series A Convertible Redeemable Preferred Stock
Temporary equity, stated value (usd per share)		$ 1,000	$ 1,000
Temporary equity, shares authorized (in shares)		100,000	100,000
Temporary equity, shares issued (in shares)		0	0
Temporary equity, shares outstanding (in shares)		0	0
Series C Convertible Redeemable Preferred Stock
Temporary equity, stated value (usd per share)		$ 1,000	$ 1,000
Temporary equity, shares authorized (in shares)		100,000	100,000
Temporary equity, shares issued (in shares)		10,000	0
Temporary equity, shares outstanding (in shares)		10,000	0
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred Stock, shares issued (in shares)	33,175	3,000
Preferred stock, shares outstanding (in shares)	33,175	3,000
Series B Convertible Preferred Stock
Temporary equity, shares outstanding (in shares)			0
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	50,000	50,000	50,000
Preferred Stock, shares issued (in shares)	0	0	0
Preferred stock, shares outstanding (in shares)	0	0	0
Series D Preferred Stock
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	150	150	150
Preferred Stock, shares issued (in shares)	110	0	0
Preferred stock, shares outstanding (in shares)	110	0	0
Series E Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred Stock, shares issued (in shares)	4,435	0
Preferred stock, shares outstanding (in shares)	4,435	0

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenues	$ 659	$ 922	$ 4,509	$ 5,674
Selling, general and administrative expenses	(4,040)	(7,700)	(29,324)	(47,072)
Impairment loss			(28,541)	(2,085)
Operating loss	(3,381)	(6,778)	(53,356)	(43,483)
Other income (expense):
Other income, net	(2,485)	2	(23)	6
Interest expense, net	(1,651)	(856)	(3,788)	(2,050)
Total other expense, net	(4,136)	(854)	(3,811)	(2,044)
Net loss before provision for income taxes	(7,517)	(7,632)	(57,167)	(45,527)
Income tax expense	0	0	0	0
Net loss from continuing operations	(7,517)	(7,632)
Net loss from continuing operations			(57,167)	(45,527)
Net loss from discontinued operations, net of tax	(36)	(5,780)	(6,522)	(33,012)
Net loss	(7,553)	(13,412)	(63,689)	(78,539)
Accretion of Convertible Redeemable Preferred Stock	22	74	280	135
Undeclared Series C Convertible Redeemable Preferred Stock Dividend	(494)	(307)	(1,156)	(468)
Add: Net loss attributable to non-controlling interest	283	168	1,826	0
Net loss attributable to common stockholders	$ (7,742)	$ (13,477)	$ (62,739)	$ (78,872)
Net loss per common stock - basic and diluted:
Continuing operations (in dollars per share)	$ (2.52)	$ (6.46)	$ (33.03)	$ (54.78)
Discontinued operations (in dollars per share)	(0.01)	(4.85)	(3.83)	(39.44)
Net loss per common share attributable to common stockholders - basic and diluted (in dollars per share)	$ (2.53)	$ (11.31)	$ (36.86)	$ (94.22)
Weighted average common shares outstanding - basic and diluted (in shares)	3,053,796	1,191,434	1,702,080	837,093

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,553)	$ (13,412)	$ (63,689)	$ (78,539)
Other comprehensive income, net of tax
Unrealized loss on available for sale securities	(289)	0	(361)	0
Reclass of available for sale securities to Consolidated Statements of Operations	650	0
Other comprehensive loss	361	0	(361)	0
Comprehensive loss	$ (7,192)	$ (13,412)	$ (64,050)	$ (78,539)

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($)	Total	Series D conversion to common stock	Common stock issued for MGT debt conversion	Conversion of Sillerman debt to common stock	Common stock issued for Kuusamo debt conversion	Common stock issued to Coda search - debt conversion	Common stock purchased - PP - Reaz Islam	Series C conversion to common	Stock Options	Restricted Stock	Public Offering	Common Stock	Common Stock Conversion of Sillerman debt to common stock	Common Stock Series C conversion to common	Preferred Stock	Preferred Stock Series D conversion to common stock	Additional Paid-In Capital	Additional Paid-In Capital Series D conversion to common stock	Additional Paid-In Capital Common stock issued for MGT debt conversion	Additional Paid-In Capital Conversion of Sillerman debt to common stock	Additional Paid-In Capital Common stock issued for Kuusamo debt conversion	Additional Paid-In Capital Common stock issued to Coda search - debt conversion	Additional Paid-In Capital Common stock purchased - PP - Reaz Islam	Additional Paid-In Capital Series C conversion to common	Additional Paid-In Capital Stock Options	Additional Paid-In Capital Restricted Stock	Additional Paid-In Capital Public Offering	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Non-Controlling Interest	Series C Convertible Preferred Stock	Series C Convertible Preferred Stock Preferred Stock	Series C Convertible Preferred Stock Additional Paid-In Capital	Series E Convertible Preferred Stock	Series E Convertible Preferred Stock Preferred Stock
Beginning balance at Jun. 30, 2014	$ 39,802,000											$ 1,000			$ 0		$ 340,178,000											$ (11,556,000)		$ (288,821,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(78,539,000)																													(78,539,000)
Purchase of common stock from former officer	(360,000)																											(360,000)
Accretion of Series C Convertible Redeemable Preferred Stock	135,000																135,000
Undeclared Series C Preferred Stock Dividend	(468,000)																(468,000)
Common stock offerings	0										$ 12,459,000																$ 12,459,000
Common stock issued for services	208,000																208,000
Common stock issued in settlement of Blue Spike litigation	139,000																139,000
Share based compensation in connection with Securities Purchase Agreement	2,657,000																2,657,000
Restricted stock - share based compensation	24,649,000																24,649,000
Employee stock options share based compensation									$ 3,650,000																$ 3,650,000
Other comprehensive loss	0
Add: Net loss attributable to non-controlling interest	0
Series D issuance	0
Preferred stock issued	0
Other matter related to Choose Digital RSUs (Note 12)	0
Ending balance at Jun. 30, 2015	4,332,000											1,000			0		383,607,000											(11,916,000)		(367,360,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(63,689,000)																													(61,863,000)	$ (1,826,000)
Series A investment into DDGG	256,000																														256,000
Undeclared Series C Preferred Stock Dividend	(1,156,000)																(1,156,000)
Common stock offerings	4,117,000
Employee stock options share based compensation									235,000	$ 11,998,000															235,000	$ 11,998,000
Other comprehensive loss	(361,000)																												$ (361,000)
Add: Net loss attributable to non-controlling interest	1,826,000
Shares issued for acquisition	2,365,000																1,755,000														610,000
Common stock and warrants of Draftday issued for management service contracts	1,733,000																														1,733,000
Series D issuance	110,000														110,000
Preferred stock issued	7,751,000	$ 0	$ 797,000		$ 71,000	$ 5,000	$ 200,000	$ 7,751,000						$ 1,000		$ (110,000)		$ 110,000	$ 797,000		$ 71,000	$ 5,000	$ 200,000	$ 7,750,000
Conversion of Sillerman debt to common stock				$ 4,112,000									$ 1,000							$ 4,111,000
Accretion of Series C Convertible Redeemable Preferred Stock	280,000																280,000
Interest income on note receivable from shareholders	2,000																2,000
Other matter related to Choose Digital RSUs (Note 12)	843,000																													843,000
Ending balance at Jun. 30, 2016	(25,176,000)											3,000					409,765,000											(11,916,000)	(361,000)	(428,380,000)	773,000		$ 4,940,000			$ 0
Ending balance at Jun. 30, 2016	(30,116,000)											3,000			$ 0		409,765,000											(11,916,000)	(361,000)	(428,380,000)	773,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,553,000)																													(7,270,000)	(283,000)
Unrealized loss on marketable securities	(289,000)																												(289,000)
Sale of Perk shares	650,000																												650,000
Series A investment into DDGG	119,000																														119,000
Undeclared Series C Preferred Stock Dividend																																$ 0	494,000	$ (494,000)
Common stock offerings	0
Employee stock options share based compensation									$ 12,000	$ 15,000															$ 12,000	$ 15,000
Other comprehensive loss	361,000
Add: Net loss attributable to non-controlling interest	283,000
Shares issued for acquisition																																30,175,000	28,500,000	1,675,000	$ 7,600,000	7,600,000
Series D issuance	7,600,000
Accretion of Series C Convertible Redeemable Preferred Stock																																$ 0	(22,000)	$ 22,000
Ending balance at Sep. 30, 2016	$ 5,553,000											$ 3,000					$ 410,995,000											$ (11,916,000)	$ 0	$ (435,650,000)	$ 609,000		$ 33,912,000			$ 7,600,000

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Net loss	$ (7,553,000)	$ (13,412,000)	$ (63,689,000)	$ (78,539,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Restricted stock based compensation	15,000	4,991,000	11,998,000	24,649,000
Employee stock options - share based compensation	12,000	173,000	235,000	3,650,000
Share based compensation in connection with securities purchase agreement	0	50,000	0	4,140,000
Write-off of certain intangible assets related to Choose Digital			0	2,086,000
Stock issued for services			0	208,000
Stock issued in settlement of litigation			0	139,000
Gain on sale of a business	2,193,000	0	(1,262,000)	0
Gain on settlement of accounts payable			(2,132,000)	0
Fair value loss in financial assets			376,000	0
Loss on abandonment of assets			173,000	0
Loss on settlement of receivables			549,000	0
Impairment loss	0		28,541,000	0
Decrease in fair value of common stock warrants			0	(5,000)
Increase in fair value of contingent consideration related to acquisitions			0	2,222,000
Accretion of note discount	1,075,000		200,000	115,000
Depreciation and amortization	687,000	1,196,000	3,748,000	6,040,000
Interest income on notes receivable from shareholders and officer			2,000	0
Changes in operating assets and liabilities:
Marketable securities			(148,000)	0
Accounts receivable	(76,000)	732,000	3,299,000	(157,000)
Other receivables	(13,000)	106,000	547,000	(581,000)
Prepaid expenses	173,000	(58,000)	2,065,000	316,000
Other assets	58,000	(140,000)	319,000	41,000
Deferred revenue	(155,000)	3,082,000	(381,000)	(818,000)
Points liability	0	(285,000)	(64,000)	4,102,000
Accounts payable and accrued expenses	(591,000)	(30,000)	6,213,000	1,737,000
Other liabilities	(21,000)	92,000	(180,000)	(40,000)
Net cash used in operating activities	(4,196,000)	(3,503,000)	(9,595,000)	(30,695,000)
Investing activities:
Purchase of property and equipment	0	535,000	0	(113,000)
Proceeds from Divestiture of Businesses	1,300,000	0
Capitalized software costs			0	(1,051,000)
Net cash used in investing activities	1,300,000	535,000	0	(1,164,000)
Financing activities:
Issuance of common stock and warrants for cash			200,000	12,459,000
Proceeds from loans	4,348,000	5,000,000	11,535,000	35,975,000
Repayments on loans	(1,162,000)	(3,000,000)	(3,000,000)	(27,000,000)
Sale of Class C Convertible Redeemable Preferred Stock			0	10,000,000
Purchase of common stock from former officer			0	(360,000)
Restricted cash			0	4,995,000
Payments related to contingent consideration	0	(1,728,000)	(2,570,000)	0
Repayment on notes payable			(250,000)	0
Net cash provided by financing activities	3,186,000	272,000	5,915,000	36,069,000
Net change in cash	290,000	(2,696,000)	(3,680,000)	4,210,000
Cash at beginning of period	537,000	4,217,000	4,217,000	7,000
Cash at end of period	827,000	1,521,000	537,000	4,217,000
Supplemental cash flow information:
Cash paid during the year for interest	30,000	0	110,000	999,000
Landlord lease incentive build-out allowance			0	449,000
Common stock and warrants issued for acquisition			1,755,000	0
Notes issued for DraftDay acquisition			2,250,000	0
Common stock and warrants issued for management service contracts			2,111,000	0
Common stock issued for partially settled notes related to DraftDay acquisition	28,500,000	0	868,000	0
Preferred Series D shares issued to partially settle notes related to DraftDay acquisition	7,600,000	0	110,000	0
Rant Note issuance in connection with the Rant acquisition (Note 6)	3,500,000
Liabilities assumed in connection with Rant acquisition (Note 6)	1,990,000	0
Settlement of Perk Loan in common stock			1,000,000	0
Loans converted to common stock	0	1,757,000	4,117,000	0
Preferred Series C shares converted to common stock			7,751,000	0
Other matter related to Choose Digital RSUs (Note 12)			843,000	0
Stock Issued	$ 0	$ 3,475,000
DDGG
Supplemental cash flow information:
Common stock and warrants issued for acquisition			$ 610,000	$ 0

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Basis of Presentation and Consolidation

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

Basis of Presentation and Consolidation

Overview

On January 27, 2016, Function(x) Inc. ("Company", "Function(x)" and "we") changed its name from Viggle Inc. to DraftDay Fantasy Sports, Inc. ("DraftDay"), and changed its ticker symbol from VGGL to DDAY. On June 10, 2016, the Company changed its name from DraftDay Fantasy Sports, Inc. to Function(x) Inc., and changed its ticker symbol from DDAY to FNCX. It now conducts business under the name Function(x) Inc.

The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiaries, and DraftDay Gaming Group, Inc. ("DDGG").  The Company has nine wholly-owned subsidiaries, Function(x) Inc., Project Oda, Inc., Sports Hero Inc., Loyalize Inc., Viggle Media Inc., VX Acquisition Corp., Nextguide Inc., Wetpaint.com, Inc. ("Wetpaint"), and Choose Digital, Inc. ("Choose Digital"), each a Delaware corporation. DraftDay owns approximately 60% of the issued and outstanding common stock of DDGG, and also appoints a majority of the members of its Board of Directors.

On September 8, 2015, the Company and its newly created subsidiary DraftDay Gaming Group, Inc. (“DDGG”) entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with MGT Capital Investments, Inc. (“MGT Capital”) and MGT Sports, Inc. (“MGT Sports”), pursuant to which the Company acquired all of the assets of the DraftDay.com business (the “DraftDay Business” or "DraftDay.com") from MGT Capital and MGT Sports.

In December 2015, as a result of the sale of certain assets to Perk and acquisition of the DraftDay Business, we reorganized the organizational management and oversight of the Company into three segments (see Note 4, Segments). Accordingly, prior period financial information has been recast to confirm to the current period presentation. These changes impacted Note 4: Segments and Note 3: Summary of Significant Accounting Policies, with no impact on consolidated net loss or cash flows in any period.

On February 8, 2016, the Company completed the sale of assets related to the Company’s rewards business, including the Viggle App, in accordance with the Asset Purchase Agreement (the "Perk Agreement") with Perk.com, Inc. ("Perk") entered into on December 13, 2015. Management entered into this binding sales agreement following a strategic decision to divest the operations related to the Viggle App and place greater focus on its remaining businesses. The assets, liabilities and operations related to Loyalize Inc., and Nextguide Inc. (as well as the portion of the assets relating to our discontinued rewards business within the Company) have been classified as discontinued operations on the accompanying consolidated financial statements for all periods presented. In accordance with Accounting Standards Codification ("ASC") No. 205, Presentation of Financial Statements, the inter-segment revenues and expenses related to services provided by Choose Digital to the Viggle rewards business (discontinued operations) are presented at cost in the Consolidated Statements of Operations.  

On July 12, 2016, the Company and RACX Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“RACX”), completed an acquisition pursuant to an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Rant, Inc., a Delaware corporation, pursuant to which RACX has acquired the assets of Rant (the “Asset Purchase”) used in the operation of Rant’s Rant.com independent media network and related businesses (the “Rant Assets”). The Company acquired assets of Rant for approximately $1,990 in assumed liabilities, a $3,000 note, and 4,435 shares of Series E Convertible Preferred stock which, upon satisfaction of certain conditions including shareholder approval, will be convertible into shares of our common stock equal to 22% of the fully diluted shares outstanding, in a move to become a market leader in social publishing.

On September 16, 2016,the Company amended its Certificate of Incorporation to effect a reverse stock split of all issued and outstanding shares of common stock at a ratio of 1 for 20 (the "Reverse Stock Split"). Owners of fractional shares outstanding after the Reverse Stock Split will be paid cash for such fractional interests. The effective date of the Reverse Stock Split is September 16, 2016. All common stock share amounts disclosed in these financial statements have been adjusted to reflect the Reverse Stock Split.

Going Concern

These financial statements have been prepared on a going concern basis which assumes the Company's ability to continue to realize its assets and discharge its liabilities in the normal course of business. The Company is unlikely to generate significant revenue or earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders, the ability of the Company to obtain necessary equity or debt financing to continue development of its business and to generate revenue and the Company's ability to cure the events of default (Note 16, Subsequent Events.) Management intends to raise additional funds through equity and/or debt offerings until sustainable revenues are developed. There is no assurance such equity and/or debt offerings will be successful and therefore there is substantial doubt about the Company’s ability to continue as a going concern within one year after the financial statements are issued. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties, including the events of default.

Basis of Presentation and Consolidation

On January 27, 2016, Function(x) Inc. (“Function(x)” and/or the “Company”) changed its name from Viggle Inc. to DraftDay Fantasy Sports, Inc. ("DraftDay"), and changed its ticker symbol from VGGL to DDAY. On June 10, 2016, the Company changed its name from DraftDay Fantasy Sports, Inc. to Function(x) Inc., and changed its ticker symbol from DDAY to FNCX. It now conducts business under the name Function(x) Inc. The Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries.  The Company has nine wholly-owned subsidiaries, Function(x) Inc., Project Oda, Inc., Sports Hero Inc., Loyalize Inc., Viggle Media Inc., VX Acquisition Corp., Nextguide Inc., Wetpaint.com, Inc. ("Wetpaint"), and Choose Digital Inc. ("Choose Digital"), each a Delaware corporation. The Company also owns approximately 49% of the issued and outstanding common stock of DDGG, and also appoints a majority of the members of its Board of Directors. All significant intercompany accounts and transactions have been eliminated in consolidation.

On September 8, 2015, the Company and its newly created subsidiary DraftDay Gaming Group, Inc. (“DDGG”) entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with MGT Capital Investments, Inc. (“MGT Capital”) and MGT Sports, Inc. (“MGT Sports”), pursuant to which the Company acquired all of the assets of the DraftDay.com business (the “DraftDay Business” or "DraftDay.com") from MGT Capital and MGT Sports.

On February 8, 2016, the Company completed the sale of assets related to the Company’s rewards business, including the Viggle App, in accordance with the Asset Purchase Agreement (the "Perk Agreement") with Perk.com, Inc. ("Perk") entered into on December 13, 2015. Management entered into this binding sales agreement following a strategic decision to divest the operations related to the Viggle App and place greater focus on its remaining businesses. The assets, liabilities and operations related to Loyalize Inc., and Nextguide Inc. (as well as the portion of the assets relating to the Company's discontinued rewards business within the Company) have been classified as discontinued operations in the accompanying consolidated financial statements for all periods presented. In accordance with Accounting Standards Codification ("ASC") No. 205, Presentation of Financial Statements, the inter-segment revenues and expenses related to services provided by Choose Digital to the Viggle rewards business (discontinued operations) are presented at cost in the Consolidated Statements of Operations.  

In December 2015, as a result of the sale of certain assets to Perk and acquisition of the DraftDay Business, we reorganized the organizational management and oversight of the Company into three segments (see Note 4, Segments). Accordingly, prior period financial information has been recast to confirm to the current period presentation. These changes impacted Note 4: Segments and Note 3: Summary of Significant Accounting Policies, with no impact on consolidated net loss or cash flows in any period.

On July 12, 2016, the Company and RACX Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“RACX”), completed an acquisition pursuant to an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Rant, Inc., a Delaware corporation, pursuant to which RACX has acquired the assets of Rant (the “Asset Purchase”) used in the operation of Rant’s Rant.com independent media network and related businesses (the “Rant Assets”). We acquired assets of Rant for $2,000 in assumed liabilities, a $3,000 note, and 4,435 shares of Function(x) Inc. Series E Convertible Preferred Stock which, upon satisfaction of certain conditions including shareholder approval, will be convertible into shares of our common stock equal to 22% of the fully diluted shares outstanding, in a move to become a market leader in social publishing.

On September 16, 2016,the Company amended its Certificate of Incorporation to effect a reverse stock split of all issued and outstanding shares of common stock at a ratio of 1 for 20 (the "Reverse Stock Split"). Owners of fractional shares outstanding after the Reverse Stock Split will be paid cash for such fractional interests. The effective date of the Reverse Stock Split is September 16, 2016. All common stock share amounts disclosed in these financial statements have been adjusted to reflect the Reverse Stock Split.

Going Concern

These consolidated financial statements have been prepared on a going concern basis which assumes the Company's ability to continue to realize its assets and discharge its liabilities in the normal course of business. The Company is unlikely to generate significant revenue or earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders, the ability of the Company to obtain necessary equity or debt financing to continue development of its business and to generate revenue. Management intends to raise additional funds through equity and/or debt offerings until sustainable revenues are developed. There is no assurance such equity and/or debt offerings will be successful and therefore there is substantial doubt about the Company’s ability to continue as a going concern within one year after the financial statements are issued. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.

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Line of Business

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Line of Business

Lines of Business

The Company conducts business through three operating segments:Wetpaint, Choose Digital, and DDGG. These operating segments are described below.

Through Wetpaint, the Company reports original news stories and publishes information content covering top television shows, music, celebrities, entertainment news and fashion. Wetpaint publishes more than 55 new articles, videos and galleries each day. The Company generates revenues through wetpaint.com by displaying advertisements to wetpaint.com users as they view its content.

To enhance our digital publishing business, the Company recently acquired assets of Rant Inc. ("Rant'), a leading digital publisher that publishes original content in 13 different verticals, most notably in sports, entertainment, pets, cars, and food. The combined Wetpaint and Rant properties currently have approximately 13.5 million fans on their Facebook pages and generate an average of 14.4 million visits per month.

Choose Digital is a white-label digital marketplace featuring a recent and wide range of digital content, including music, movies, TV shows, eBooks and audiobooks. The content is sourced from the world’s leading record companies and book publishers and an aggregator of movie and TV content. Choose Digital generates revenues when participants in Choose Digital's clients' loyalty programs redeem loyalty credits for digital content provided by Choose Digital. For example, if a participant in a loyalty program redeems credits for a song download provided by Choose Digital, the client loyalty program pays Choose Digital for the download.

The Company's wholly owned subsidiary, DDGG, made a recent investment in the DraftDay.com platform. Through DraftDay.com, users can draft a fantasy sports team within a salary cap, follow game action and reap rewards.  DraftDay.com will continue to offer high-quality entertainment to consumers as well as to businesses desiring turnkey solutions to new revenue streams. See Note 6, Acquisitions, for further details on this acquisition.

Line of Business

Line of Business

The Company conducts business through three operating segments: Wetpaint, Choose Digital and DDGG. These operating segments are described below.

Through Wetpaint, the Company reports original news stories and publishes information content covering top television shows, music, celebrities, entertainment news and fashion. Wetpaint publishes more than 55 new articles, videos and galleries each day. The Company generates revenues through wetpaint.com by displaying advertisements to wetpaint.com users as they view its content.

Choose Digital is a white-label digital marketplace featuring a recent and wide range of digital content, including music, movies, TV shows, eBooks and audiobooks. The content is sourced from the world’s leading record companies and book publishers and an aggregator of movie and TV content. Choose Digital generates revenues when participants in Choose Digital's clients' loyalty programs redeem loyalty credits for digital content provided by Choose Digital. For example, if a participant in a loyalty program redeems credits for a song download provided by Choose Digital, the client loyalty program pays Choose Digital for the download.

The Company's wholly owned subsidiary, DDGG, made a recent investment in the DraftDay.com platform. Through DraftDay.com, users can draft a fantasy sports team within a salary cap, follow game action and reap rewards.  DraftDay.com will continue to offer high-quality entertainment to consumers as well as to businesses desiring turnkey solutions to new revenue streams. See Note 6, Acquisitions, for further details on this acquisition.

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Summary of Significant Accounting Policies

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending June 30, 2017.

Cash and Cash Equivalents and Restricted Cash

The Company considers all highly liquid securities purchased with original maturities of 90 days or less to be cash equivalents.  Cash equivalents are stated at cost which approximates market value and primarily consists of money market funds that are readily convertible into cash.  Restricted cash comprises amounts held in deposit that were required as collateral under leases of office space.

Marketable Securities

In February 2016, the Company received 1,370,000 shares of Perk's stock, which is publicly traded on the Toronto Stock Exchange, as part of the consideration in the sale of assets described in the Perk Agreement. These securities are short-term marketable securities, and have been classified as “available-for-sale” securities. Pursuant to Accounting Standards Codification ("ASC") 320-10, “Investments - Debt and Equity Securities” the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss. On September 30, 2016, the Company sold to Perk the remaining shares (1,013,068) of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. The execution of the Securities Purchase Agreement and closing were simultaneous. In connection with the sale of the Perk shares, the warrants for additional shares and the right to the Earn-Out Shares, the Company recorded a loss of $2,193 in the Other Expense line item of the Consolidated Statements of Operations for the three months ended September 30, 2016.

Accounts Receivable

Accounts receivable are recorded net of an allowance for doubtful accounts. The Company's allowance for doubtful accounts is based upon historical loss patterns, the number of days that the billings are past due and an evaluation of the potential risk associated with delinquent accounts. The Company also considers any changes to the financial condition of its customers and any other external market factors that could impact the collectability of its receivables in the determination of its allowance for doubtful accounts. The Company's allowance for doubtful accounts as of September 30, 2016 and June 30, 2016 was $20.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with domestic financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of such institutions.

The Company performs ongoing credit evaluations of customers to assess the probability of accounts receivable collection based on a number of factors, including past transaction experience with the customer, evaluation of their credit history, and review of the invoicing terms of the contract. The Company generally does not require collateral. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Actual credit losses during the three months ended September 30, 2016 and September 30, 2015 were $0.

Fair Value of Financial Instruments

The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts and other receivables, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The carrying amount of Perk marketable securities held is marked-to-market on a quarterly basis using the closing day share price of the last business day of the quarter. The changes to fair value are recorded in Other Comprehensive Income/Loss.  The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model. The changes to fair value are recorded in the Consolidated Statement of Operations. The carrying amount of loans payable approximates fair value as current borrowing rates for the same, or similar issues, are the same as those that were given to the Company at the issuance of these loans.

Property and Equipment

Property and equipment (consisting primarily of computers, software, furniture and fixtures, and leasehold improvements) is recorded at historical cost and is depreciated using the straight-line method over their estimated useful lives.  The useful life and depreciation method are reviewed periodically to ensure that they are consistent with the anticipated pattern of future economic benefits.  Expenditures for maintenance and repairs are charged to operations as incurred, while betterments are capitalized. Gains and losses on disposals are included in the results of operations.  The estimated useful lives of the Company's property and equipment is as follows: computer equipment and software: 3 years; furniture and fixtures: 4 years; and leasehold improvements: the lesser of the lease term or life of the asset.

Business Combinations and Goodwill

Business combinations are accounted for using the acquisition method of accounting. The Company allocates the purchase price of acquired companies to the identifiable assets acquired, liabilities assumed and any non-controlling interest based on their acquisition date estimated fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the identifiable assets acquired and liabilities assumed.  Any contingent consideration to be transferred to the acquiree is recognized at fair value at the acquisition date.

Determining the fair value of assets acquired and liabilities assumed requires the Company to make significant estimates and assumptions, including assumptions related to future cash flows, discount rates, asset lives and the probability of future cash pay-outs related to contingent consideration. The estimates of fair value are based upon assumptions believed to be reasonable by management, but are inherently uncertain and unpredictable and, therefore, actual results may differ from estimates. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company's reporting units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative fair values of the disposed operation and the portion of the reporting units retained.

As required by ASC 350, "Goodwill and Other Intangible Assets", the Company tests goodwill for impairment during the fourth quarter of its fiscal year. Goodwill is not amortized, but instead tested for impairment at the reporting unit level at least annually and more frequently upon occurrence of certain events. As noted above, the Company has three reporting units. The annual goodwill impairment test is a two step process. First, the Company determines if the carrying value of its reporting unit exceeds fair value, which would indicate that goodwill may be impaired. If the Company then determines that goodwill may be impaired, it compares the implied fair value of the goodwill to its carry amount to determine if there is an impairment loss.

Historically, the Company had one reporting unit. However, in connection with the sale of a significant portion of the Company's assets (see Note 1, Basis of Presentation and Consolidation), the remaining operations were divided into three reporting units (see Note 4, Segments). The Company engaged a third-party valuation firm to test the Choose Digital and Wetpaint reporting units for goodwill impairment. The DDGG reporting unit was not tested for impairment at December 31, 2015 as the acquisition of this entity occurred in September 2015. The Company determined that the fair value of both of the Wetpaint and Choose Digital reporting units were significantly below their respective carrying values, indicating that goodwill related to these reporting units may be impaired. The Company determined the fair value of all long-lived assets other than goodwill related to each reporting unit and calculated the residual goodwill value for each. Upon comparing the residual goodwill values to the respective carrying values, the Company determined that there was an impairment loss on both the Choose Digital and Wetpaint reporting units.

The Company recorded an impairment loss of $4,335 related to the Choose Digital reporting unit and $10,708 related to the Wetpaint reporting unit during the three months ended December 31, 2015. Upon the finalization of the December 31, 2015 Choose Digital and Wetpaint goodwill impairment analysis, the consolidated goodwill ending balances as of March 31, 2016 were adjusted by $3,350 at June 30, 2016. The Company also recorded an additional goodwill impairment loss of $1,672 in the Selling, general and administrative expense line and reduced the gain on the sale of the Viggle Business by $1,672 in the Consolidated Statement of Operations during the nine months ended March 31, 2016 as a result of the finalization of the December 2015 Choose Digital and Wetpaint impairment analysis. There were no impairments recorded during the three months ended September 30, 2016.

At June 30, 2016, the Company determined that the fair value of the DDGG reporting unit was significantly below its carrying value, indicating that goodwill may be impaired. The Company determined the fair value of all long-lived assets other than goodwill and calculated the residual goodwill for the reporting unit. The residual goodwill was higher than the carrying value of goodwill related to the DDGG reporting unit, therefore the Company did not record an impairment loss for DDGG goodwill during the year ended June 30, 2016.

Other Long-Lived Assets

The Company accounts for the impairment of long-lived assets other than goodwill in accordance with ASC 360, “Property, Plant, and Equipment” ("ASC 360"), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets.  ASC 360 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets (fair value) are less than the assets' carrying amounts.  In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets.  Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal.  

At June 30, 2015, the Company determined that certain intangible assets related to the acquisition of Choose Digital (see Note 6, Acquisitions for further detail regarding the Choose Digital acquisition) were impaired. Due to a shift in the Company's business operations and utilization of its resources, during the fourth quarter of fiscal 2015 the Company determined that intangible assets related to customer relationships and trade name no longer had value. Therefore, such assets were written off as of June 30, 2015. The total amount of the write-off was $2,086.

At December 31, 2015, as described above, the Company determined that the fair value of the Choose Digital and Wetpaint reporting units tested was significantly below the respective carrying values and assessed the fair values of the long-lived assets other than goodwill for each reporting unit. Upon comparing the fair values of the long-lived assets to their respective carrying values, the Company recorded a loss of $1,331 on intangible assets related to Choose Digital's software and licenses, and a loss of $11,418 on intangible assets related to Wetpaint's technology, trademark, customer relationships and non-competition agreements, during the three months ended December 31, 2015. No impairments were recorded during the three months ended September 30, 2016.

At June 30, 2016, the Company determined that certain intangible assets related to the acquisition of Draftday.com were impaired. At June 30, 2016, DDGG's Management Services Agreement By and Between DraftDay Gaming Group, Inc. and Sportech Racing, LLC ("Sportech MSA") terminated, which led to a significantly lower revenues forecast for the reporting unit. As a result, the Company determined that the intangible assets related to internally developed software, trade name and non-compete agreements were impaired. The Company recorded a loss of $749 on intangible assets related to DDGG during the year ended June 30, 2016.

No impairments were recorded during the three months ended September 30, 2016.

Capitalized Software

The Company records amortization of acquired software on a straight-line basis over the estimated useful life of the software.  

In addition, the Company records and capitalizes internally generated computer software and, appropriately, certain internal costs have been capitalized in the amount of $1,498 as of September 30, 2016 and $1,498 as of June 30, 2016, in accordance with ASC 350-40 "Internal-use Software".  At the time software is placed into service, the Company records amortization on a straight-line basis over the estimated useful life of the software. The change in capitalized software is due to impairment of long-term assets related to the Choose Digital and Wetpaint businesses described earlier, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs.

DDGG Player Deposits

The Company maintains a separate bank account to hold player deposits in accordance with current industry regulations. The player deposits bank account represents money reserved for player withdrawals and winnings. Accordingly, the Company records an offsetting liability at the time of receipt of player deposits.

Deferred Rent

The Company leases its corporate office, and as part of the lease agreement the landlord provided a rent abatement for the first 10 months of the lease. In 2014, the Company entered into two lease agreements for its satellite offices which provided for tenant improvement work sponsored by the landlords. The abatement and landlord sponsored improvements have been accounted for as a reduction of rental expense over the life of the lease. The Company accounts for rental expense on a straight-line basis over the entire term of the lease. Deferred rent is equal to the cumulative timing difference between actual rent payments and recognized rental expense. The satellite office leases were terminated in Fiscal 2016. The Company wrote-off residual leasehold improvement and deferred rent balances related to landlord sponsored tenant improvement work, and recorded a write-off of $83 in the Consolidated Statements of Operations for the year ended June 30, 2016.

Revenue Recognition

The Company recognizes revenue when: (1) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. For all revenue transactions, the Company considers a signed agreement, a binding insertion order or other similar documentation to be persuasive evidence of an arrangement.

Advertising Revenue: the Company generates advertising revenue primarily from third-party advertising via real-time bidding, which is typically sold on a per impression basis. 

Deferred Revenue:  deferred revenue consists principally of prepaid but unrecognized revenue.  Deferred revenue is recognized as revenue when the services are provided and all other revenue recognition criteria have been met.

Barter Revenue: barter transactions represent the exchange of advertising or programming for advertising, merchandise or services. Barter transactions which exchange advertising for advertising are accounted for in accordance with Emerging Issues Task Force Issue No. 99-17 "Accounting for Advertising Barter Transactions" (ASC Topic 605-20-25). Such transactions are recorded at the fair value of the advertising provided based on the Company's own historical practice of receiving cash for similar advertising from buyers unrelated to the counter party in the barter transactions. Barter transactions which exchange advertising or programming for merchandise or services are recorded at the monetary value of the revenue expected to be realized from the ultimate disposition of merchandise or services.

The Company recognized barter revenue and barter expense in the amount of $0 and $2,609for the three months ended September 30, 2016 and September 30, 2015, respectively.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718").  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period.  The Company uses the Black-Scholes option pricing model to determine the fair value of stock options and warrants issued.  Stock-based awards issued to date are comprised of both restricted stock awards (RSUs) and employee stock options.

Marketing

Marketing costs are expensed as incurred.  Marketing expense for the Company for the three months ended September 30, 2016 and September 30, 2015 was $32 and $3,321, respectively.

Income Taxes

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, "Income Taxes" ("ASC 740").  Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse.  A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.  The Company assesses its income tax positions and record tax benefits for all years subject to examination based upon the Company's evaluation of the facts, circumstances and information available at the reporting date.  In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information.  For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

Comprehensive Loss

In accordance with ASC 220, "Comprehensive Income", the Company reports by major components and as a single total, the change in its net assets during the period from non-owner sources. Comprehensive income consists of net income (loss), accumulated other comprehensive income (loss), which includes certain changes in equity that are excluded from net income (loss). The Company’s comprehensive loss for all periods presented is related to the effect of unrealized gain on available for sale marketable securities.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.  These estimates include, among others, fair value of financial assets and liabilities, net realizable values on long-lived assets, certain accrued expense accounts, and estimates related to stock-based compensation.  Actual results could differ from those estimates.

During the three months ended September 30, 2016, there have been no significant changes related to the Company's critical accounting policies and estimates as disclosed in "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" set forth in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016.

Recently Issued Accounting Pronouncements

In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-16, “Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory” (ASU 2016-16”). This update eliminates the exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. ASU 2016-16 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In May 2016, FASB issued Accounting Standards Update 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients" ("ASU 2016-12"). The amendments in this update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which is not yet effective. This update focuses on improving several aspects of ASU 2014-09, such as assessing the collectability criterion in paragraph 606-10-25-1(e) and accounting for contracts that do not meet the criteria for step 1; presentation of sales taxes and other similar taxes collected from customers; noncash consideration; contract modifications at transition; and completed contracts at transition. ASU 2016-12 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In April 2016, the FASB issued Accounting Standards Update 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" ("ASU 2016-10"). The amendments in this update affect the guidance in ASU 2014-09, which is not yet effective. This update focuses on clarifying the following two aspects of ASU 2014-09: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. ASU 2016-10 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-09,

Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU

2016-09"). This update is intended to improve the accounting for employee share-based payments and affects all organizations

that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award

transactions are simplified, including:(a)income tax consequences;(b)classification of awards as either equity or liabilities; and(c) classification on the statement of cash flows. ASU 2016-09 is effective for financial statements issued for annual periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-09 on its financial statements.

In February 2016, FASB issued Accounting Standards Update No. 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02

requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a

lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a

right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease

term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. ASU 2016-02 is effective for financial statements issued for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-02 on its financial statements.

In January 2016, FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments- Overall: Recognition

and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). Additionally, it requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. Lastly, the standard eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In November 2015, FASB issued Accounting Standards Update No. 2015-17, “Income taxes: Balance Sheet Classification

of Deferred Taxes Business” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax

liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities

and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In September 2015, the FASB issued Accounting Standard Update No. 2015-16, Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). This standard requires that an acquirer retrospectively adjust provisional amounts recognized in a business combination, during the measurement period. To simplify the accounting for adjustments made to provisional amounts, the amendments in the ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is required to also record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date.  In addition an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017 (July 1, 2017 for the Company). The Company does not believe that the adoption of ASU 2015-16 will have a material impact on its consolidated financial statements.

Summary of Significant Accounting Policies

Cash and Cash Equivalents and Restricted Cash

The Company considers all highly liquid securities purchased with original maturities of 90 days or less to be cash equivalents.  Cash equivalents are stated at cost which approximates market value and primarily consists of money market funds that are readily convertible into cash.  Restricted cash comprises amounts held in deposit that were required as collateral under the lease of office space and security interest held by Deutsche Bank Trust Company Americas in connection with the Company's debt agreement more fully described in Note 9, Loans Payable.

Marketable Securities

In February 2016, the Company received 1,370,000 shares of Perk's stock, which is publicly traded on the Toronto Stock Exchange, as part of the consideration in the sale of assets described in the Perk Agreement. These securities are short-term marketable securities, and have been classified as “available-for-sale” securities. Pursuant to ASC 320-10, “Investments - Debt and Equity Securities” the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss.

Accounts Receivable

Accounts receivable are recorded net of an allowance for doubtful accounts. The Company's allowance for doubtful accounts is based upon historical loss patterns, the number of days that the billings are past due and an evaluation of the potential risk associated with delinquent accounts. The Company also considers any changes to the financial condition of its customers and any other external market factors that could impact the collectability of its receivables in the determination of its allowance for doubtful accounts.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with domestic financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of such institutions.

The Company performs ongoing credit evaluations of customers to assess the probability of accounts receivable collection based on a number of factors, including past transaction experience with the customer, evaluation of their credit history, and review of the invoicing terms of the contract. The Company generally does not require collateral. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Actual credit losses during the years ended June 30, 2016 and June 30, 2015 were $549 and $0, respectively.

Fair Value of Financial Instruments

The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents, accounts and other receivables, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The carrying amount of Perk marketable securities held is marked-to-market on a quarterly basis using the closing day share price of the last business day of the quarter. The changes to fair value are recorded in Other Comprehensive Income/Loss.  The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model. The changes to fair value are recorded in the Consolidated Statement of Operations. The carrying amount of loans payable approximates fair value as current borrowing rates for the same, or similar issues, are the same as those that were given to the Company at the issuance of these loans.

Property and Equipment

Property and equipment (consisting primarily of computers, software, furniture and fixtures, and leasehold improvements) is recorded at historical cost and is depreciated using the straight-line method over their estimated useful lives.  The useful life and depreciation method are reviewed periodically to ensure they are consistent with the anticipated pattern of future economic benefits.  Expenditures for maintenance and repairs are charged to operations as incurred, while betterments are capitalized. Gains and losses on disposals are included in the results of operations.  The estimated useful lives of the Company's property and equipment is as follows: computer equipment and software: 3 years; furniture and fixtures: 4 years; and leasehold improvements: the lesser of the lease term or life of the asset.

Business Combinations and Goodwill

Business combinations are accounted for using the acquisition method of accounting. The Company allocates the purchase price of acquired companies to the identifiable assets acquired, liabilities assumed and any non-controlling interest based on their acquisition date estimated fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the identifiable assets acquired and liabilities assumed.  Any contingent consideration to be transferred to the acquiree is recognized at fair value at the acquisition date.

Determining the fair value of assets acquired and liabilities assumed requires the Company to make significant estimates and assumptions, including assumptions related to future cash flows, discount rates, asset lives and the probability of future cash pay-outs related to contingent consideration. The estimates of fair value are based upon assumptions believed to be reasonable by management, but are inherently uncertain and unpredictable and, therefore, actual results may differ from estimates. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company's reporting units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the reporting units retained.

As required by Accounting Standards Codification (“ASC”) 350, "Goodwill and Other Intangible Assets", the Company tests goodwill for impairment during the fourth quarter of its fiscal year. Goodwill is not amortized, but instead tested for impairment at the reporting unit level at least annually and more frequently upon occurrence of certain events. As noted above, the Company has three reporting units. The annual goodwill impairment test is a two step process. First, the Company determines if the carrying value of its reporting unit exceeds fair value, which would indicate that goodwill may be impaired. If the Company then determines that goodwill may be impaired, it compares the implied fair value of the goodwill to its carrying amount to determine if there is an impairment loss.

Historically, the Company had one reporting unit. However, in connection with the sale of a significant portion of the Company's assets (see Note 1, Basis of Presentation and Consolidation), the remaining operations were divided into 3 reporting units (see Note 4, Segments). The Company engaged a third-party valuation firm to test the Choose Digital and Wetpaint reporting units for goodwill impairment. The DDGG reporting unit was not tested for impairment at December 31, 2015 as the acquisition of this entity occurred in September 2015. The Company determined that the fair value of both of the Wetpaint and Choose Digital reporting units were significantly below their respective carrying values, indicating that goodwill related to these reporting units may be impaired. The Company determined the fair value of all long-lived assets other than goodwill related to each reporting unit and calculated the residual goodwill value for each. Upon comparing the residual goodwill values to the respective carrying values, the Company determined that there was an impairment loss on both the Choose Digital and Wetpaint reporting units. As a result, the Company recorded an impairment loss of $4,335 related to the Choose Digital reporting unit and $10,708 related to the Wetpaint reporting unit in the Selling, general and administrative expense line of the Consolidated Statements of Operations during the six months ended December 31, 2015. Upon the finalization of the December 31, 2015 Choose Digital and Wetpaint goodwill impairment analysis, the consolidated goodwill ending balances as of March 31, 2016 were adjusted by $3,350 at June 30, 2016. The Company also recorded an additional goodwill impairment loss of $1,672 in the Selling, general and administrative expense line and reduced the gain on the sale of the Viggle Business by $1,672 in the Consolidated Statement of Operations during the nine months ended March 31, 2016 as a result of the finalization of the December 2015 Choose Digital and Wetpaint impairment analysis. There were no other impairments of goodwill related to the Choose Digital or Wetpaint reporting units recorded during the year ended June 30, 2016.

At June 30, 2016, the Company determined that the fair value of the DDGG reporting unit was significantly below its carrying value, indicating that goodwill may be impaired. The Company determined the fair value of all long-lived assets other than goodwill and calculated the residual goodwill for the reporting unit. The residual goodwill was higher than the carrying value of goodwill related to the DDGG reporting unit, therefore the Company did not record an impairment loss for DDGG goodwill during the year ended June 30, 2016.

There were no impairments to goodwill recorded during the year ended June 30, 2015.

Other Long-Lived Assets

The Company accounts for the impairment of long-lived assets other than goodwill in accordance with ASC 360, “Property, Plant, and Equipment” ("ASC 360"), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets.  ASC 360 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts.  In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets.  Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal.  

At June 30, 2015, the Company determined that certain intangible assets related to the acquisition of Choose Digital were impaired. Due to a shift in the Company's business operations and utilization of its resources, during the fourth quarter of fiscal 2015, the Company determined that intangible assets related to customer relationships and trade name no longer had value. Therefore, such assets were written off as of June 30, 2015. The total amount of the write off was $2,085 and is included in selling, general and administrative costs in the accompanying Consolidated Statements of Operations. There were no other impairments of long-lived assets during the year ended June 30, 2015.

At December 31, 2015, as described above, the Company determined that the fair value of the Choose Digital and Wetpaint reporting units tested was significantly below the respective carrying values and assessed the fair values of the long-lived assets other than goodwill for each reporting unit. Upon comparing the fair values of the long-lived assets to their respective carrying values, the Company recorded a loss of $1,331 on intangible assets related to Choose Digital's software and licenses, and a loss of $11,418 on intangible assets related to Wetpaint's technology, trademark, customer relationships and non-competition agreements, during the three months ended December 31, 2015. There were no other impairments of long-lived assets related to the Choose Digital or Wetpaint reporting units during the year ended June 30, 2016.

At June 30, 2016, the Company determined that certain intangible assets related to the acquisition of Draftday.com were impaired. At June 30, 2016, DDGG's Management Services Agreement By and Between DraftDay Gaming Group, Inc. and Sportech Racing, LLC ("Sportech MSA") terminated, which led to a significantly lower revenues forecast for the reporting unit. As a result, the Company determined that the intangible assets related to internally developed software, trade name and non-compete agreements were impaired. The Company recorded a loss of $749 on intangible assets related to DDGG during the year ended June 30, 2016.

Capitalized Software

The Company records amortization of acquired software on a straight-line basis over the estimated useful life of the software.  

In addition, the Company records and capitalizes internally generated computer software and, appropriately, certain internal costs have been capitalized in the amounts of $1,498 and $1,610 as of June 30, 2016 and June 30, 2015, respectively, in accordance with ASC 350-40, "Internal-use Software".  Once software is placed into service, the Company records amortization on a straight-line basis over the estimated useful life of the software. The change in capitalized software is due to impairment of long-term assets related to Choose Digital and Wetpaint businesses described earlier, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs.

DDGG Player Deposits

The Company maintains a separate bank account to hold player deposits in accordance with current industry regulations. The player deposits bank account represents money reserved for player withdrawals and winnings. Accordingly, the Company records an offsetting liability at the time of receipt of player deposits.

Deferred Rent

The Company currently leases office space for its corporate office, and as part of the lease agreement the landlord provided a rent abatement for the first 10 months of the lease. In 2014, the Company entered into two lease agreements for its satellite offices which provided for tenant improvement work sponsored by the landlords. The abatement and landlord sponsored improvements have been accounted for as a reduction of rental expense over the life of the lease. The Company accounts for rental expense on a straight line basis over the entire term of the lease. Deferred rent is equal to the cumulative timing difference between actual rent payments and recognized rental expense. The satellite office leases were terminated in Fiscal 2016. The Company wrote-off residual leasehold improvement and deferred rent balances related to landlord sponsored tenant improvement work, and recorded a write-off of $83 in the Consolidated Statements of Operations for the year ended June 30, 2016.

Revenue Recognition

The Company recognizes revenue when: (1) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. For all revenue transactions, the Company considers a signed agreement, a binding insertion order or other similar documentation to be persuasive evidence of an arrangement.

Advertising Revenue: the Company generates advertising revenue primarily from third-party advertising via real-time bidding, which is typically sold on a per impression basis. 

Deferred Revenue:  deferred revenue consists principally of prepaid but unrecognized revenue.  Deferred revenue is recognized as revenue when the services are provided and all other revenue recognition criteria have been met.

Barter Revenue: barter transactions represent the exchange of advertising or programming for advertising, merchandise or services. Barter transactions which exchange advertising for advertising are accounted for in accordance with Emerging Issues Task Force Issue No. 99-17 "Accounting for Advertising Barter Transactions" (ASC Topic 605-20-25). Such transactions are recorded at the fair value of the advertising provided based on the Company's own historical practice of receiving cash for similar advertising from buyers unrelated to the counter party in the barter transactions. Barter transactions which exchange advertising or programming for merchandise or services are recorded at the monetary value of the revenue expected to be realized from the ultimate disposition of merchandise or services.

The Company recognized barter revenue and barter expense for the year ended June 30, 2016 of $428 and $428, respectively.

The Company recognized barter revenue and barter expense for the year ended June 30, 2015 of $437 and $437, respectively.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718").  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period.  The Company uses the Black-Scholes option pricing model to determine the fair value of stock options and warrants issued.  Stock-based awards issued to date are comprised of both restricted stock awards (RSUs) and employee stock options.

Marketing

Marketing costs are expensed as incurred.  Marketing expense for the years ended June 30, 2016 and June 30, 2015 was $603 and$528, respectively, including barter expense.

Income Taxes

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, "Income Taxes" ("ASC 740").  Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse.  A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.  The Company assesses its income tax positions and record tax benefits for all years subject to examination based upon the Company's evaluation of the facts, circumstances and information available at the reporting date.  In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information.  For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

Comprehensive Loss

In accordance with ASC 220, "Comprehensive Income", the Company reports by major components and as a single total, the change in its net assets during the period from non-owner sources. Comprehensive income consists of net income (loss), accumulated other comprehensive income (loss), which includes certain changes in equity that are excluded from net income (loss). The Company’s comprehensive loss for all periods presented is related to the effect of an unrealized loss on available for sale marketable securities.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. These estimates include, among others, fair value of financial assets and liabilities, net realizable values on long-lived assets, certain accrued expense accounts, and estimates related to stock-based compensation. Actual results could differ from those estimates.

Recently Issued Accounting Pronouncements

In May 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients" ("ASU 2016-12"). The amendments in this update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which is not yet effective. This update focuses on improving several aspects of ASU 2014-09, such as assessing the collectability criterion in paragraph 606-10-25-1(e) and accounting for contracts that do not meet the criteria for step 1; presentation of sales taxes and other similar taxes collected from customers; noncash consideration; contract modifications at transition; and completed contracts at transition. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In April 2016, the FASB issued Accounting Standards Update 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" ("ASU 2016-10"). The amendments in this update affect the guidance in ASU 2014-09, which is not yet effective. This update focuses on clarifying the following two aspects of ASU 2014-09: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In March 2016, FASB issued Accounting Standards Update No. 2016-09, "Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"). This update is intended to improve the accounting for employee share-based payments and affects all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including:(a)income tax consequences;(b)classification of awards as either equity or liabilities; and(c) classification on the statement of cash flows. ASU 2016-09 is effective for financial statements issued for annual periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-09 on its financial statements.

In February 2016, FASB issued Accounting Standards Update No. 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. ASU 2016-02 is effective for financial statements issued for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-02 on its financial statements.

In January 2016, FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments- Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). Additionally, it requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. Lastly, the standard eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In November 2015, FASB issued Accounting Standards Update No. 2015-17, “Income taxes: Balance Sheet Classification of Deferred Taxes Business” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In September 2015, the FASB issued Accounting Standard Update No. 2015-16, "Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments" ("ASU 2015-16"). This standard requires that an acquirer retrospectively adjust provisional amounts recognized in a business combination, during the measurement period. To simplify the accounting for adjustments made to provisional amounts, the amendments in the ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is required to also record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date.  In addition an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017 (July 1, 2017 for the Company). The Company does not believe that the adoption of ASU 2015-16 will have a material impact on its consolidated financial statements.

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Segments

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Segment Reporting [Abstract]

Segments

Segments

Historically, the Company had one operating segment. However, in connection with the sale of the Viggle rewards business (discontinued operations) to Perk in February 2016, which represents a significant portion of the Company's assets and revenues, the Company's remaining operations were divided into three operating segments. These segments offer different products and services and are currently presented separately in internal management reports, and managed separately.

• Wetpaint: a media channel reporting original news stories and publishing information content covering top television shows, music, celebrities, entertainment news and fashion.

• Choose Digital: a business-to-business platform for delivering digital content.

• DDGG: a business-to-business operator of daily fantasy sports.

The accounting policies followed by the segments are described in Note 3, Summary of Significant Accounting Policies. The operating segments of the Company include the assets, liabilities, revenues and expenses that management has determined are specifically or primarily identifiable to each segment, as well as direct and indirect costs that are attributable to the operations of each segment. Direct costs are the operational costs that are administered by the Company following the shared services concept. Indirect costs are the costs of support functions that are provided on a centralized or geographic basis by the Company, which include, but are not limited to, finance, human resources, benefits administration, procurement support, information technology, legal, corporate strategy, corporate governance and other professional services and general commercial support functions.

Central support costs have been allocated to each operating segment based on a specific identification basis or, when specific identification is not practicable, a proportional cost allocation method (primarily based on net sales or direct payroll costs), depending on the nature of the services received. Management considers that such allocations have been made on a reasonable basis, but may not necessarily be indicative of the costs that would have been incurred if the operating segments had been operated on a stand-alone basis for the periods presented.

Information regarding the results of each reportable segment is included below. Performance is measured based on unit profit after tax, as included in the internal management reports that are reviewed by the chief operating decision maker, who is the Company's Chief Executive Officer. Business unit profit is used to measure performance as management believes that such information is the most relevant in evaluating the success of each business and determining the going forward strategy for the Company as a whole.

Information about reportable segments:

	Three Months Ended September 30,
	Wetpaint				Choose Digital				DDGG			Total
	2016		2015		2016		2015		2016		2015	2016		2015
External revenues	371		516		58		198		105		83	534		797
Inter-segment revenues (1)	—		—						—		—	—		—
Net loss, net of income taxes (2)	(2,077	)	(1,857	)	(401	)	(484	)	(752	)	26	(3,230	)	(2,315	)
Notes:
(1) The Choose Digital business provides digital content to the Viggle business. These inter-segment revenues are presented at Choose Digital's cost in this schedule and in the consolidated statements of operations.
(2) The net loss figures presented exclude certain corporate expenses detailed in the reconciliation to the consolidated net loss below.
(3) Assets and liabilities are not presented as they are reviewed at the consolidated level by management and not accounted for by segment.

Reconciliation of revenues attributable to reportable segments to consolidated revenues from continuing operations:

	Three Months Ended September 30,
	2016		2015
Revenues attributable to reportable segments	$	534	$	797
Licensing revenues related to SFX licensing agreement	125		125
Other revenues	—		—
Revenues per Consolidated Statements of Operations	$	659	$	922

Reconciliation of net loss for reportable segments, net of income taxes to consolidated net loss from continuing operations, net of income taxes:

	Three Months Ended September 30,
	2016		2015
Net loss for reportable segments, net of income taxes	(3,230	)	(2,315	)
Other net gain (loss)	(2,478	)	—
	(5,708	)	(2,315	)
Stock compensation related to corporate financing activities (1)	—		(4,250	)
Corporate expenses allocated to discontinued operations (2)	(158	)	(211	)
Interest expense (3)	(1,651	)	(856	)
Consolidated net loss from continuing operations, net of income taxes	(7,517	)	(7,632	)
Notes:
(1) Stock compensation expense related to RSUs, options and warrants issues in connection with financing activities. Expenses related to financing activities are considered to be corporate expenses and are not allocated to reportable segments.
(2) Certain corporate expenses were allocated to the Viggle segment, however such expenses are not classified as discontinued operations because they are fixed and are not affected by the sales transaction.
(3) Interest expense related to corporate debt instruments is not allocated to reportable segments.

Total assets for reportable segments:

	September 30, 2016
	Wetpaint		Choose Digital		DDGG		Total
Total assets for reportable segments	$	21,740	$	5,273	$	4,021	$	31,034

	June 30, 2016
	Wetpaint		Choose Digital		DDGG		Total
Total assets for reportable segments	$	8,495	$	5,416	$	3,740	$	17,651

Reconciliation of assets attributable to reportable segments to consolidated assets of continuing operations:

	September 30, 2016		June 30, 2016
Total assets for reportable segments	$	31,034	$	17,651
Other assets (1)	2,016		5,349
Total consolidated assets, net of current and non-current assets of discontinued operations	$	33,050	$	23,000
Notes:
(1) Corporate assets that are not specifically related to any of the reporting units.

The Company continues to support the cash needs and operations of DDGG. As of September 30, 2016 the Company has transferred $736 to the DDGG subsidiary. A portion of these transfers, or $500, was funded as part of the purchase price commitment. The remaining transfers are part of the subscription agreement entered into with DDGG on May 12, 2016 (see Note 16, Subsequent Events).

On July 12, 2015, to enhance our digital publishing business, we recently acquired assets of Rant. Rant is a leading digital publisher that publishes original content in 13 different verticals, most notably in sports, entertainment, pets, cars, and food. Rant results of operations are included in the Company's digital publishing segment, Wetpaint.

Segments

Historically, the Company had one operating segment. However, in connection with the sale of the Viggle rewards business (discontinued operations) to Perk in February 2016, which represents a significant portion of the Company's assets and revenues, the Company's remaining operations were divided into three operating segments. These segments offer different products and services are separately reviewed in internal management reports, and managed separately.

• Wetpaint: a media channel reporting original news stories and publishing information content covering top television shows, music, celebrities, entertainment news and fashion.

• Choose Digital: a business-to-business platform for delivering digital content.

• DDGG: a business-to-business operator of daily fantasy sports.

The accounting policies followed by the segments are described in Note 3, Summary of Significant Accounting Policies. The operating segments of the Company include the assets, liabilities, revenues and expenses that management has determined are specifically or primarily identifiable to each segment, as well as direct and indirect costs that are attributable to the operations of each segment. Direct costs are the operational costs that are administered by the Company following the shared services concept. Indirect costs are the costs of support functions that are provided on a centralized or geographic basis by the Company, which include, but are not limited to, finance, human resources, benefits administration, procurement support, information technology, legal, corporate strategy, corporate governance and other professional services and general commercial support functions.

Central support costs have been allocated to each operating segment based on a specific identification basis or, when specific identification is not practicable, a proportional cost allocation method (primarily based on net sales or direct payroll costs), depending on the nature of the services received. Management considers that such allocations have been made on a reasonable basis, but may not necessarily be indicative of the costs that would have been incurred if the operating segments had been operated on a stand-alone basis for the periods presented.

Information regarding the results of each reportable segment is included below. Performance is measured based on unit profit after tax, as included in the internal management reports that are reviewed by the Chief Operating Decision Maker, who is the Company's Chief Executive Officer. Business unit profit is used to measure performance as management believes that such information is the most relevant in evaluating the success of each business and determining the going forward strategy for the Company as a whole.

Information about reportable segments:

	For The Year Ended June 30,
	Wetpaint						Choose Digital						DDGG					Total
In thousands of U.S. dollars	2016			2015			2016			2015			2016			2015		2016			2015
External revenues	$	1,533		$	3,454		$	664		$	848		$	528		$	—	$	2,725		$	4,302
Inter-segment revenues (1)	—			—			1,285			855			—			—		1,285			855
Net loss, net of income taxes (2)	(27,560		)	(8,747		)	(7,621		)	(6,744		)	(5,194		)	—		(40,375		)	(15,491		)
Notes:
(1) In September 2014, the Choose Digital business began providing digital content to the Viggle business. These inter-segment revenues are presented at Choose Digital's cost in this schedule and in the consolidated statements of operations.
(2) The net loss figures presented exclude certain corporate expenses detailed in the reconciliation to the consolidated net loss below.

Reconciliation of revenues attributable to reportable segments to consolidated revenues from continuing operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016		2015
Revenues attributable to reportable segments	$	4,010	$	5,157
Licensing revenues related to SFX licensing agreement	499		507
Other revenues	—		10
Revenues per Consolidated Statements of Operations	$	4,509	$	5,674

Reconciliation of net loss for reportable segments, net of income taxes to consolidated net loss from continuing operations, net of income taxes:

In thousands of U.S. dollars	Year Ended June 30, 2016			Year Ended June 30, 2015
Net loss for reportable segments, net of income taxes	$	(40,375	)	$	(15,491	)
Other net loss	(72		)	(659		)
	(40,447		)	(16,150		)
Stock compensation related to corporate financing activities (1)	(11,017		)	(21,141		)
Corporate expenses, net allocated to discontinued operations (2)	(1,915		)	(3,262		)
Interest expense, net (3)	(3,788		)	(2,050		)
Loss on contingent consideration (4)	—			(2,222		)
Corporate financing expenses	—			(702		)
Consolidated net loss from continuing operations, net of tax	$	(57,167	)	$	(45,527	)
Notes:
(1) Stock compensation expense related to RSUs, options and warrants issued in connection with financing activities. Expenses related to financing activities are considered to be corporate expenses and are not allocated to reportable segments.
(2) Certain corporate expenses were allocated to the Viggle business, however such expenses are not classified as discontinued operations because they are fixed and are not affected by the sales transaction.
(3) Interest expense related to corporate debt instruments is not allocated to reportable segments.
(4) Contingent consideration loss related to Choose Digital (see Note 6, Acquisitions).

Total assets for reportable segments:

	June 30,
	Wetpaint				Choose Digital				DDGG				Total
In thousands of U.S. dollars	2016		2015		2016		2015		2016		2015		2016		2015
Total assets for reportable segments	$	8,495	$	35,272	$	5,416	$	10,587	$	3,740	$	—	$	17,651	$	45,859

Reconciliation of assets attributable to reportable segments to consolidated assets of continuing operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Total assets for reportable segments	$	17,651	$	45,859
Other assets (1)	5,349		8,723
Total consolidated assets, net of current and non-current assets of discontinued operations	$	23,000	$	54,582
Notes:
(1) Corporate assets that are not specifically related to any of the reporting units.

The Company continues to support the cash needs and operations of DDGG. As of June 30, 2016 the Company has transferred $857 to the DDGG subsidiary. A portion of these transfers, or $500, was funded as part of the purchase price commitment. The remaining transfers are part of the subscription agreement entered into with DDGG on May 12, 2016 (see Note 6, Acquisitions).

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Discontinued Operations

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On February 8, 2016, the Company completed the sale of assets related to the Company’s rewards business, including the Viggle App, in accordance with the Perk Agreement entered into on December 13, 2015. Management entered into this binding sales agreement following a strategic decision to divest the operations related to the Viggle App and place greater focus on its remaining businesses. The Company has classified the Viggle assets, liabilities and operations as discontinued operations in the accompanying Consolidated Financial Statements for all periods presented. In accordance with ASC No. 205, Presentation of Financial Statements, the inter-segment revenues and expenses related to services provided by Choose Digital to the Viggle rewards business (discontinued operations) are presented at cost in the Consolidated Statements of Operations.  

On December 13, 2015, the Parent entered into the Perk Agreement. Perk’s shares are currently traded on the Toronto Stock Exchange. On February 8, 2016, pursuant to the Perk Agreement, the Company completed the sale of the assets related to the Company’s rewards business, including Viggle’s application, to Perk. The total consideration received net of transaction fees was approximately $5,110,and consisted of the following:

• 1,370,000 shares of Perk common stock, a portion of which was placed in escrow to satisfy any potential indemnification claims;

• 2,000,000 shares of Perk common stock if Perk’s total revenues exceed USD $130,000 for the year ended December 31, 2016 or December 31, 2017;

• a warrant entitling the Company to purchase 1,000,000 shares of Perk common stock at a strike price of CDN $6.25 per share in the event the volume weighted average price (“VWAP”) of shares of Perk common stock is greater than or equal to CDN $12.50 for 20 consecutive trading days in the two year period following the closing of the transaction;

• a warrant entitling the Company to purchase 1,000,000 shares of Perk common stock at a strike price of CDN $6.25 per share in the event that the VWAP of Perk common stock is greater than or equal to CDN $18.75 for 20 consecutive trading days in the two year period following the closing of the transaction, and

• Perk assumed certain liabilities of the Company, consisting of the Viggle points liability.

At the time the Company entered into the Perk Agreement, Perk provided the Company with a $1,000 secured line of credit, which the Company fully drew down. The Company had the option of repaying amounts outstanding under that line of credit by reducing the number of Initial Perk Shares by130,000. The Company exercised this option and received 1,370,000 shares of Perk common stock at closing, and the amounts outstanding under the Line of Credit were deemed paid in full.

At the closing, 37.5% (562,600) of the Initial Perk Shares were issued and delivered to an escrow agent to be used exclusively for the purpose of securing the Company's indemnification obligations under the Perk Agreement.

Additionally, after the closing, the Company delivered 357,032 of the Initial Perk Shares to Gracenote, Inc. and Tribune Media Services, Inc., former providers of technology services of the Company, as per the Settlement and Transfer Agreement dated February 5, 2016, to satisfy an obligation. The Company recognized a gain of $593 in the Consolidated Statements of Operations for the year ended June 30, 2016.

On September 30, 2016, the Company sold to Perk the remaining shares (1,013,068) of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. The execution of the Securities Purchase Agreement and closing were simultaneous. The escrowed shares were released as part of this transaction.

The Company recognized a gain of $1,060 on this transaction, net of transaction fees associated with the sale of the Viggle rewards business.

Results of operations classified as discontinued operations:

	Three Months Ended September 30,
	2016			2015
Revenues	$	—		$	4,130
Cost of watchpoints and engagement points	—			(2,022		)
Selling, general and administrative expenses	(36		)	(7,866		)
Loss before income taxes	(36		)	(5,758		)
Income taxes (see Note 13, Income Taxes)	—			(22		)
Net loss	$	(36	)	$	(5,780	)

Current assets and non-current assets used in discontinued operations:

	September 30, 2016		June 30, 2016
Current assets:
Accounts receivable, net	$	20	$	39
Prepaid expenses	—		—
Current assets of discontinued operations	$	20	$	39
Non-current assets:
Property and equipment, net	$	—	$	—
Intangible assets, net	—		—
Goodwill	—		—
Other assets	—		—
Non-current assets of discontinued operations	$	—	$	—

Current liabilities and non-current liabilities used in discontinued operations:

	September 30, 2016		June 30, 2016
Current liabilities:
Accounts payable and accrued expenses	$	2,609	$	2,634
Reward points payable			—
Current portion of loan payable	221		217
Current liabilities of discontinued operations	$	2,830	$	2,851
Non-current liabilities:
Other long-term liabilities	$	—	$	—
Non-current liabilities of discontinued operations	$	—	$	—

Discontinued Operations

On February 8, 2016, the Company completed the sale of assets related to the Company’s rewards business, including the Viggle App, in accordance with the Perk Agreement entered into on December 13, 2015. Management entered into this binding sales agreement following a strategic decision to divest the operations related to the Viggle App and place greater focus on its remaining businesses. The Company has classified the Viggle assets, liabilities and operations as discontinued operations in the accompanying Consolidated Financial Statements for all periods presented. In accordance with ASC No. 205, Presentation of Financial Statements, the inter-segment revenues and expenses related to services provided by Choose Digital to the Viggle rewards business (discontinued operations) are presented at cost in the Consolidated Statements of Operations.  

On December 13, 2015, the Company entered into the Perk Agreement. Perk’s shares are currently traded on the Toronto Stock Exchange. On February 8, 2016, pursuant to the Perk Agreement, the Company completed the sale of the assets related to the Company’s rewards business, including the Viggle App, to Perk. The total consideration received, net of transaction fees, was approximately $5,110, and consisted of the following:

• 1,370,000 shares of Perk common stock, a portion of which was placed in escrow to satisfy any potential indemnification claims;

• 2,000,000 shares of Perk common stock if Perk’s total revenues exceed USD $130,000 for the year ended December 31, 2016 or December 31, 2017;

• a warrant entitling the Company to purchase 1,000,000 shares of Perk common stock at a strike price of CDN $6.25 per share in the event the volume weighted average price (“VWAP”) of shares of Perk common stock is greater than or equal to CDN $12.50 for 20 consecutive trading days in the two year period following the closing of the transaction;

• a warrant entitling the Company to purchase 1,000,000 shares of Perk common stock at a strike price of CDN $6.25 per share in the event the volume weighted average price (“VWAP”) of shares of Perk common stock is greater than or equal to CDN $18.75 for 20 consecutive trading days in the two year period following the closing of the transaction;

• Perk assumed certain liabilities of the Company, consisting of the Viggle points liability.

At the time the Company entered into the Perk Agreement, Perk provided the Company with a $1,000 secured line of credit, which the Company fully drew down. The Company had the option of repaying amounts outstanding under that line of credit by reducing the number of Initial Perk Shares by 130,000. The Company exercised this option and received 1,370,000 shares of Perk common stock at closing, and the amounts outstanding under the Line of Credit were deemed paid in full.

Escrow

At the closing, 37.5% (562,600) of the Initial Perk Shares were issued and delivered to an escrow agent to be used exclusively for the purpose of securing the Company's indemnification obligations under the Perk Agreement.

On September 30, 2016, the Company sold to Perk the remaining shares (1,013,068) of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. The execution of the Securities Purchase Agreement and closing were simultaneous. The escrowed shares were released as part of this transaction.

The Company recognized a gain of $1,060 on this transaction, net of transaction fees.

Additionally, after the closing, the Company delivered 357,032 of the Initial Perk Shares to Gracenote, Inc. and Tribune Media Services, Inc., former providers of technology services of the Company, as per the Settlement and Transfer Agreement dated February 5, 2016, to satisfy an obligation. The Company recognized a gain of $593 in the consolidated statements of operations for the year ended June 30, 2016.

Results of operations classified as discontinued operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016			2015
Revenues	$	5,321		$	19,852
Cost of watch points and engagement points	(3,416		)	(9,574		)
Selling, general and administrative expenses	(12,553		)	(43,203		)
Operating loss	(10,648		)	(32,925		)
Other expense:
Other income, net	4,169			—
Total other expense, net	4,169			—
Net loss before provision for income taxes	(6,479		)	(32,925		)
Income tax expense	(43		)	(87		)
Net loss from discontinued operations, net of tax	$	(6,522	)	$	(33,012	)

Cash flows used in discontinued operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016			2015
Net cash used in operating activities	$	(15,998	)	$	(17,984	)
Net cash used in investing activities	—			(843		)
Net cash used in discontinued operations	$	(15,998	)	$	(18,827	)

Current assets and Non-current assets used in discontinued operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Current assets:
Accounts receivable, net	$	39	$	3,281
Prepaid expenses	—		150
Current assets of discontinued operations	$	39	$	3,431
Non-current assets:
Property and equipment, net	$	—	$	114
Intangible assets, net	—		2,630
Goodwill	—		11,111
Other assets	—		40
Non-current assets of discontinued operations	$	—	$	13,895

Current liabilities and Non-current liabilities used in discontinued operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Current liabilities:
Accounts payable and accrued expenses	$	2,634	$	4,249
Reward points payable	—		9,029
Current portion of loan payable	217		—
Current liabilities of discontinued operations	$	2,851	$	13,278
Non-current liabilities:
Other long-term liabilities	$	—	$	538
Non-current liabilities of discontinued operations	$	—	$	538

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Acquisitions

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Business Combinations [Abstract]

Acquisitions

Acquisitions

Acquisition of Choose Digital

On June 24, 2014, the Company acquired Choose Digital, a Miami, Florida based, digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives.

In connection with the acquisition, the Company was required to make a contingent payment, which was due within five business days after June 24, 2015, of $4,792. Such amount was accrued in the accompanying Consolidated Balance Sheets as of June 30, 2015. On June 24, 2015, the Company determined that the maximum amount of contingent consideration of $4,792 should be recorded. As such, the Company adjusted the original estimate of contingent consideration of $2,570 to $4,792. The increase of $2,222 was recorded as an expense and included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations for the year ended June 30, 2015. On July 31, 2015, the Company entered into a Forbearance Agreement with AmossyKlein Family Holdings, LLP ("AmossyKlein"), as representative of the former shareholders of Choose Digital Inc. (the “Stockholders”). The Forbearance Agreement provides that the Company will make monthly installment payments to the Stockholders, beginning on July 31, 2015 and ending on January 29, 2016. Specifically, the Company agreed to pay $668 on July 31, 2015; $532 on August 31, 2015; $528 on September 30, 2015; $524 on October 31, 2015; $521 on November 30, 2015; $517 on December 31, 2015; and $1,754 on January 29, 2016. The scheduled payments include $170 of interest and $82 of legal fee charges. The Company agreed to deliver an affidavit of confession of judgment to be held in escrow by AmossyKlein’s counsel in the event the Company does not make such installment payments. The Company made the installment payments through December 2015, but failed to make the payment due on January 29, 2016.

On May 12, 2016. the Company and AmossyKlein entered into an amendment to the Forbearance Agreement to provide for the payment of the remaining $1,754. The Forbearance Agreement now provides that the Company will make a payment of approximately $300 by May 18, 2016, and thereafter, the Company will make monthly payments of $100, plus interest at a rate of 9% per annum, until the remaining amount is paid in full. In addition, the Company agreed to pledge 100,000 shares of common stock it holds in Perk.com, Inc. as collateral for these obligations. Finally, the Company agreed if it consummates a sale of a substantial part of its assets or a public equity offering, the Company will first apply the proceeds to remaining amounts due to AmossyKlein, except for payments to advisors or expenses necessary to close such transactions. The Company also delivered an amended confession of judgment that it had previously delivered to AmossyKlein, which will be held in escrow by AmossyKlein's counsel in the event the Company does not make installment payments as set forth in the amended Forbearance Agreement. During the three months ended September 30, 2016, the Company paid approximately$400 under the Forbearance Agreement.

In addition, at June 30, 2015, due to a shift in business operations and utilization of resources during the fourth quarter of 2015, the Company determined that certain intangible assets related to the acquisition of Choose Digital no longer had value (see Note 3, Summary of Significant Accounting Policies). At December 31, 2015, the Company further determined that certain intangible assets and goodwill related to the acquisition of Choose digital were impaired (see Note 3, Summary of Significant Accounting Policies).

Acquisition of DraftDay.com

On September 8, 2015, the Company and its newly created subsidiary DDGG entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with MGT Capital Investments, Inc. (“MGT Capital”) and MGT Sports, Inc. (“MGT Sports”), pursuant to which the Company acquired all of the assets of the DraftDay.com business (the “DraftDay Business”) from MGT Capital and MGT Sports.  In exchange for the acquisition of the DraftDay Business, the Company paid MGT Sports the following: (a) 63,647 shares of the Company’s Common Stock, par value $0.001 per share (“Common Stock”), (b) a promissory note in the amount of $234 due September 29, 2015, (c) a promissory note in the amount of $1,875 due March 8, 2016 (the "MGT Note"), and (d) 2,550 shares of common stock of DDGG.  In addition, in exchange for providing certain transitional services, DDGG will issue to MGT Sports a warrant to purchase 1,500 shares of DDGG common stock at an exercise price of $400 per share.

In addition, in exchange for the release of various liens and encumbrances, the Company also agreed to issue to third parties: (a) 4,232 shares of its Common Stock, (b) a promissory note in the amount of $16 due September 29, 2015 and (c) a promissory note in the amount of $125 due March 8, 2016, and DDGG issued: (i) 150 shares of its common stock and (ii) a warrant to purchase 150 shares of DDGG common stock at $400 per share.

Accordingly, the Company issued a total of 67,879 shares of Common Stock in connection with the acquisition of the DraftDay Business.

The Company contributed the assets of the DraftDay Business to DDGG and received 11,250 shares of DDGG common stock.

The Asset Purchase Agreement contains customary representations, warranties and covenants of MGT Capital and MGT Sports. In addition, on September 8, 2015, DDGG entered into an agreement with Sportech Racing, LLC (“Sportech”) pursuant to which Sportech agreed to provide certain management services to DDGG in exchange for 9,000 shares of DDGG common stock.
As a result of the transactions described above, the Company owns a total of 11,250 shares of DDGG common stock, Sportech Inc., an affiliate of Sportech, owns 9,000 shares of DDGG common stock, MGT Sports owns 2,550 shares of DDGG common stock and an additional third party owns 150 shares of DDGG common stock.  In addition, MGT Sports holds a warrant to purchase 1500 shares of DDGG common stock at an exercise price of $400 and an additional third party holds a warrant to purchase 350 shares of DDGG common stock at $400 per share. On September 8, 2015, the various stockholders of DDGG entered into a Stockholders Agreement (the “Stockholders Agreement”).  The Stockholders Agreement provides that all stockholders will vote their shares of DDGG common stock for a Board comprised of three members, two of which will be designated by the Company and one of which will be designated by Sportech.  Mr. Sillerman will serve as the Chairman of DDGG. The Stockholders Agreement also provides customary rights of first refusal for the various stockholders, as well as customary co-sale, drag along and preemptive rights. 

As a result of the transactions described herein, the Company issued promissory notes in the aggregate principal amount of $250 due and paid on September 29, 2015 and in the aggregate principal amount of $2,000 due March 8, 2016.  All such notes bear interest at a rate of 5% per annum.  The Company was not able to make the $2,000 in payments at the due date and on March 24, 2016 converted $825 of the promissory notes to common stock and $110 of the promissory notes to a Series D Preferred Stock (see Note 11, Stockholders' (Deficit) Equity). On April 13, 2016, MGT converted all 110 shares of the Company's Series D Preferred Stock into shares of common stock of the Company. Accordingly, the Company issued 18,332 shares of common stock to MGT. Thereafter, there are no shares of the Company's Series D Preferred Stock outstanding. On June 14, 2016, the Company entered into a second exchange agreement with MGT (the “Second MGT Exchange Agreement”) relating to the $940 remaining due under the MGT Note. Under the Second MGT Exchange Agreement, the MGT Note shall be exchanged in full for (a) $11 in cash representing accrued interest and (b) 132,092 shares of our common stock, subject to certain adjustments. Issuance of the shares is conditioned upon approval of the Company’s shareholders and approval of its listing of additional shares application with NASDAQ. On October 10, 2016, the Company satisfied the MGT Note through the issuance of 136,304 shares of its common stock and payment of interest of $16.

On December 28, 2015, DDGG's Board of Directors effectuated a 1-for-1,000 reverse stock split (the “1-for-1,000 Reverse Split”). Under the terms of the 1-for-1,000 Reverse Split, each share of DDGG's common stock, issued and outstanding as of such effective date, was automatically reclassified and changed into one-thousandth of one share of common stock, without any action by the stockholders. Fractional shares were cashed out.

On May 12, 2016, the Company entered into a subscription agreement with DDGG pursuant to which the Company agreed to purchase up to 550 shares of Series A Preferred Stock of DDGG for $1 per share. DDGG also entered into a subscription agreement with Sportech pursuant to which Sportech agreed to purchase up to 450 shares of Series A Preferred Stock of DDGG for $1 per share. In accordance with this agreement, the Company transferred a total of $550 to the DDGG subsidiary since the date of acquisition and through November 20, 2016.

Kuusamo Warrants

In exchange for releasing certain liens and encumbrances with respect to DDGG, the Company issued promissory notes to Kuusamo Capital Ltd. ("Kuusamo Promissory Notes") in the principal amount of $16  due and paid on September 29, 2015 and in the aggregate principal amount of $125 due March 8, 2016.   All such notes bear interest at a rate of 5% per annum.  The Company was not able to make the $125 payment at the due date. On April 25, 2016, the Company also entered into an exchange agreement with Kuusamo Capital Ltd. (“Kuusamo"), pursuant to which the Company issued 10,394 shares of its common stock to Kuusamo in exchange for a reduction of $71 in principal amount of a promissory note the Company owed to Kuusamo.  

The outstanding balance of the Kuusamo Promissory Notes was $55 and $54 at September 30, 2016 and June 30, 2016, respectively.  The Company recorded $5 in interest expense for the year ended June 30, 2016. 

Sportech MSA Termination

On April 12, 2016, DDGG entered into an amendment to the transitional management services agreement pursuant to which the DDGG's Management Services Agreement By and Between DraftDay Gaming Group, Inc. and Sportech Racing, LLC ("Sportech MSA") terminated effective June 30, 2016. Sportech paid a $75 termination fee, to provide transitional services for 45 days, and has agreed to revert 4,200 shares of DDGG stock back to the Company on August 15, 2016. The Company had previously recorded the value of the services provided by Sportech under the Sportech MSA to prepaid assets, to be recognized as a professional services expense in the Consolidated Statements of Operations over the term of the agreement. Due to the termination of the agreement, the Company reduced prepaid assets and non-controlling interest accounts for the value of the returned 4,200 shares of DDGG stock, and expensed the remaining value of the Sportech services, except for 45 days of transitional services. The value of returned DDGG shares was determined by a third-party valuation firm as of June 30, 2016 using Level 3 inputs. The termination of the Sportech MSA will require DDGG to begin performing certain functions on its own.

DDGG Intangibles and Goodwill Impairment

As noted above, at June 30, 2016, the Sportech MSA terminated, which led to a significantly lower revenues forecast for the reporting unit. As a result, the Company determined that intangible assets related to internally developed software, trade name and non-compete agreements were impaired as of June 30, 2016. The Company recorded a loss of $749 on intangible assets related to DDGG during the year ended June 30, 2016. There was no impairment of goodwill (see Note 3, Summary of Significant Accounting Policies).

This acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, "Business Combinations". Under the acquisition method, the consideration transferred is measured at the acquisition closing date. The assets of the DraftDay Business have been measured based on various preliminary estimates using assumptions that the Company’s management believes are reasonable utilizing information currently available. Use of different estimates and judgments could yield different results. The Company has performed a preliminary allocation of the purchase price to the underlying net assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with any excess of the purchase price allocated to goodwill. The Company has not completed the analysis of certain acquired assets and assumed liabilities, including, but not limited to, other identifiable intangible assets such as customer lists and technology. However, the Company is continuing its review of these items during the measurement period, and further changes to the preliminary allocation will be recognized as the valuations are finalized. Such valuations are being conducted using Level 3 inputs as described in ASC 820, "Fair Value Measurements and Disclosures", that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

A summary of the fair value of consideration transferred for this acquisition and the fair value of the assets and liabilities at the date of acquisition is as follows (amounts in thousands):

Consideration transferred:
Shares of the Company's common stock on closing market price at issuance	$	1,760
Notes issued to sellers	2,250
Total consideration transferred	$	4,010
Purchase allocation:
Goodwill	$	1,591
Intangible assets	3,012
Other Assets	799
Total liabilities	(1,392		)
	$	4,010

The operations of this acquisition are not material, and thus, pro forma disclosures are not presented.

Rant

On July 12, 2016, the Company, and RACX Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“RACX”), completed an acquisition pursuant to an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Rant, Inc., a Delaware corporation, pursuant to which RACX has acquired the assets of Rant (the “Asset Purchase”) used in the operation of Rant’s Rant.com independent media network and related businesses, including but not limited to the www.rantsports.com, www.rantlifestyle.com, www.rantchic.com, www.rantgirls.com, www.rant-inc.com, www.rantstore.com, www.rantcities.com, www.rantcars.com, www.rantfinance.com, www.ranthollywood.com, www.rantfood.com, www.rantgamer.com, www.rantgizmo.com, www.rantpets.com, www.rantplaces.com, www.rantpolitical.com, www.rantmn.com, www.rantbeats.com, www.rantgirls.com, www.rantstore.com, www.rantcities.com, www.rantranet.com, and www.rantmovies.com websites (the “Rant Assets”).

In consideration for the purchase of the Rant Assets, the Company delivered a Secured Convertible Promissory Note (the “Secured Convertible Note”) to Rant with a fair value determined to be $3,500 and delivered the stock consideration of $7,600 described below.

The $3,000 Secured Convertible Note matures on July 8, 2017 barring any events of default or a change of control of the Company. The Secured Convertible Note bears interest at 12% per annum, payable at maturity. At the election of Rant, the Secured Convertible Note is convertible into shares of the Company's common stock at a price equal to the lower of (i) $5.20 per share, or (ii) such lower price as may have been set for conversion of any debt or securities into Common Stock held on or after the date hereof by Sillerman until the first to occur of March 31, 2017 or the date the Note has been satisfied or converted (for the purposes hereof Robert F.X. Sillerman is the Company’s Executive Chairman and Chief Executive Officer and/or any affiliate of Robert F.X. Sillerman is herein collectively, “Sillerman”). In connection with the Secured Convertible Note, the Company has entered into a Note Purchase Agreement (the “NPA”) and a Security Agreement (the “Rant Security Agreement”) with Rant, under which the Company has granted Rant a continuing security interest in substantially all assets of the Company. In connection with the issuance of the Secured Convertible Note, Sillerman and Rant entered into a subordination agreement subordinating repayment of the notes to the Debentures (as described in (b) hereof) and entered into an Intercreditor Agreement providing for the parties’ respective rights and remedies with respect to payments against the collateral held as security for both of them.

In connection with the Asset Purchase Agreement, and in addition to the consideration represented by the Secured Convertible Note and the Assumed Liabilities, the Company issued to Rant 4,435 shares of Company Series E Convertible Preferred Stock which, upon satisfaction of certain conditions including shareholder approval, will be convertible into shares of Company common stock equal to 22% of the outstanding common stock of the Company. The number of shares will be adjusted for dilution between the date of closing and the date of any public offering by the Company of its common stock and to reflect additional capital structure changes through the first of (i) the date Sillerman converts debt and preferred shares to common shares pursuant to the Exchange Agreement just before an offering of the Company’s common stock closes or (ii) March 31, 2017. 

This acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, "Business Combinations". Under the acquisition method, the consideration transferred is measured at the acquisition closing date. The assets of Rant have been measured based on various preliminary estimates using assumptions that the Company’s management believes are reasonable utilizing information currently available. Use of different estimates and judgments could yield different results. The Company has performed a preliminary allocation of the purchase price to the underlying net assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with any excess of the purchase price allocated to goodwill. The Company has not completed the analysis of certain acquired assets and assumed liabilities, including, but not limited to, other identifiable intangible assets such as customer lists and technology. However, the Company is continuing its review of these items during the measurement period, and further changes to the preliminary allocation will be recognized as the valuations are finalized. Such valuations are being conducted using Level 3 inputs as described in ASC 820, "Fair Value Measurements and Disclosures", that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

The preliminary allocation of the purchase price to the underlying net assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date is as follows:

Goodwill	$	7,589
Intangible assets	5,500
Total liabilities	(1,990		)
	$	11,099

The goodwill related to the Rant acquisition is tax deductible.

 Acquisitions

Acquisition of Choose Digital

On June 24, 2014, the Company acquired Choose Digital, a Miami, Florida based, digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives.

In connection with the acquisition, all outstanding shares of Choose Digital, the Company was required to make a contingent payment, which was due within five business day after June 24, 2015, of $4,792. Such amount was accrued in the accompanying Consolidated Balance Sheets as of June 30, 2015. On June 24, 2015, the Company determined that the maximum amount of contingent consideration of $4,792 should be recorded. As such, the Company adjusted the original estimate of contingent consideration of $2,570 to $4,792. The increase of $2,222 is recorded as an expense and included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations for the year ended June 30, 2015. On July 31, 2015, the Company entered into a Forbearance Agreement with AmossyKlein Family Holdings, LLP ("AmossyKlein"), as representative of the former shareholders of Choose Digital Inc. (the “Stockholders”). The Forbearance Agreement provides that the Company will make monthly installment payments to the Stockholders, beginning on July 31, 2015 and ending on January 29, 2016. Specifically, the Company agreed to pay $668 on July 31, 2015; $532 on August 31, 2015; $528 on September 30, 2015; $524 on October 31, 2015; $521 on November 30, 2015; $517 on December 31, 2015; and $1,754 on January 29, 2016. The scheduled payments include $170 of interest and $82 of legal fee charges. The Company agreed to deliver an affidavit of confession of judgment to be held in escrow by AmossyKlein’s counsel in the event the Company does not make such installment payments. The Company made the installment payments through December 2015, but failed to make the payment due on January 29, 2016.

On May 12, 2016, the Company and AmossyKlein entered into an amendment to the Forbearance Agreement to provide for the payment of the remaining $1,754. The Forbearance Agreement now provides that the Company will make a payment of approximately $300 by May 18, 2016, and thereafter, the Company will make monthly payments of $100, plus interest at a rate of 9% per annum, until the remaining amount is paid in full. In addition, the Company agreed to pledge 100,000 shares of common stock it holds in Perk.com, Inc. as collateral for these obligations. Finally, the Company agreed if it consummates a sale of a substantial part of its assets or a public equity offering, the Company will first apply the proceeds to remaining amounts due to AmossyKlein, except for payments to advisors or expenses necessary to close such transactions. The Company also delivered an amended confession of judgment that it had previously delivered to AmossyKlein, which will be held in escrow by AmossyKlein's counsel in the event the Company does not make installment payments as set forth in the amended Forbearance Agreement. At June 30, 2016, the Company was in compliance with the agreed upon payment plan.

In addition, at June 30, 2015, due to a shift in business operations and utilization of resources during the fourth quarter of 2015, the Company determined that certain intangible assets related to the acquisition of Choose Digital no longer had value (see Note 3, Summary of Significant Accounting Policies). At December 31, 2015, the Company further determined that certain intangible assets and goodwill related to the acquisition of Choose digital were impaired (see Note 3, Summary of Significant Accounting Policies).

DraftDay.com

On September 8, 2015, the Company and its newly created subsidiary DDGG entered into an Asset Purchase Agreement with MGT Capital and MGT Sports, pursuant to which the Company acquired all of the assets of the DraftDay Business from MGT Capital and MGT Sports.  In exchange for the acquisition of the DraftDay Business, the Company paid MGT Sports the following: (a) 63,647 shares of the Company’s common stock, par value $0.001 per share, (b) a promissory note in the amount of $234, which will be due September 29, 2015, (c) a promissory note in the amount of $1,875 due March 8, 2016, and (d) 2,550 shares of common stock of DDGG.  In addition, in exchange for providing certain transitional management services, DDGG will issue to MGT Sports a warrant to purchase 1,500 shares of DDGG common stock at an exercise price of $400 per share.

In addition, in exchange for the release of various liens and encumbrances, the Company also agreed to issue to third parties: (a) 4,232 shares of its common stock, (b) a promissory note in the amount of $16 due September 29, 2015 and (c) a promissory note in the amount of $125 due March 8, 2016, and DDGG issued: (i) 7,500 shares of the Company's common stock and (ii) a warrant to purchase 150 shares of DDGG common stock at $400 per share.

Accordingly, the Company issued a total of 67,879 shares of common stock in connection with the acquisition of the DraftDay Business.

The Company contributed the assets of the DraftDay Business to DDGG and received 11,250 shares of DDGG common stock.

The Asset Purchase Agreement contains customary representations, warranties and covenants of MGT Capital and MGT Sports. In addition, on September 8, 2015, DDGG entered into an agreement with Sportech Racing, LLC (“Sportech”) pursuant to which Sportech agreed to provide certain management services to DDGG in exchange for 9,000 shares of DDGG common stock ("Sportech MSA"). As a result of the transactions described above, the Company owns a total of 11,250 shares of DDGG common stock, Sportech Inc., an affiliate of Sportech, owns 9,000 shares of DDGG common stock, MGT Sports owns 2,550 shares of DDGG common stock and an additional third party owns 150 shares of DDGG common stock.  In addition, MGT Sports holds a warrant to purchase 1,500 shares of DDGG common stock at an exercise price of $400 and an additional third party holds a warrant to purchase 350 shares of DDGG common stock at $400 per share.   On September 8, 2015, the various stockholders of DDGG entered into a Stockholders Agreement (the “Stockholders Agreement”).  The Stockholders Agreement provides that all stockholders will vote their shares of DDGG common stock for a Board comprised of three members, two of which will be designated by the Company and one of which will be designated by Sportech.  Mr. Sillerman will serve as the Chairman of DDGG. The Stockholders Agreement also provides customary rights of first refusal for the various stockholders, as well as customary co-sale, drag along and preemptive rights. 

As a result of the transactions described herein, the Company issued promissory notes in the aggregate principal amount of $250 due and paid on September 29, 2015 and in the aggregate principal amount of $2,000 due March 8, 2016.  All such notes bear interest at a rate of 5% per annum.  The Company was not able to make the $2,000 in payments at the due date and on March 24, 2016 converted $825 of the promissory notes to common stock and $110 of the promissory notes to a Series D Preferred Stock (see Note 11, Stockholders' (Deficit) Equity). On April 13, 2016, MGT converted all110shares of the Company's Series D Preferred Stock into shares of common stock of the Company. Accordingly, the Company issued18,332shares of common stock to MGT. Thereafter, there arenoshares of the Company's Series D Preferred Stock outstanding.On June 14, 2016, the Company entered into a second exchange agreement with MGT (the “Second MGT Exchange Agreement”) relating to the $940 remaining due under the MGT Note. Under the Second MGT Exchange Agreement, the MGT Note shall be exchanged in full for (a) $11 in cash representing accrued interest and (b) 132,092 shares of our common stock, subject to certain adjustments. Issuance of the shares is conditioned upon approval of the Company’s shareholders and approval of its listing of additional shares application with NASDAQ. On October 10, 2016, the Company satisfied the MGT Note through the issuance of 136,304 shares of its common stock and payment of interest of $16.

On December 28, 2015, DDGG's Board of Directors effectuated a 1-for-1,000 reverse stock split (the “1-for-1,000 Reverse Split”). Under the terms of the 1-for-1,000 Reverse Split, each share of DDGG's common stock, issued and outstanding as of such effective date, was automatically reclassified and changed into one-thousandth of one share of common stock, without any action by the stockholders. Fractional shares were cashed out.

On May 12, 2016, the Company entered into a subscription agreement with DDGG pursuant to which the Company agreed to purchase up to 550 shares of Series A Preferred Stock of DDGG for $1 per share. DDGG also entered into a subscription agreement with Sportech pursuant to which Sportech agreed to purchase up to 450 shares of Series A Preferred Stock of DDGG for $1 per share. In accordance with this agreement, the Company transferred a total of $502 tothe DDGG subsidiary since the date of acquisition and through October 11, 2016.

Kuusamo Warrants

In exchange for releasing certain liens and encumbrances with respect to DDGG, the Company issued promissory notes to Kuusamo Capital Ltd. ("Kuusamo Promissory Notes") in the principal amount of $16  due and paid on September 29, 2015 and in the aggregate principal amount of $125 due March 8, 2016.   All such notes bear interest at a rate of 5% per annum.  The Company was not able to make the $125 payment at the due date. On April 25, 2016, the Company also entered into an exchange agreement with Kuusamo Capital Ltd. (“Kuusamo"), pursuant to which the Company issued 10,394 shares of its common stock to Kuusamo in exchange for a reduction of $71 in principal amount of a promissory note the Company owed to Kuusamo.  

The outstanding balance of the Kuusamo Promissory Notes was $54 at June 30, 2016.  The Company recorded $5 in interest expense for the year ended June 30, 2016. 

Sportech MSA Termination

On April 12, 2016, DDGG entered into an amendment to the transitional management services agreement pursuant to which the DDGG's Management Services Agreement By and Between DraftDay Gaming Group, Inc. and Sportech Racing, LLC ("Sportech MSA") terminated effective June 30, 2016. Sportech paid a $75 termination fee, to provide transitional services for 45 days, and has agreed to revert 4,200 shares of DDGG stock back to the Company on August 15, 2016. The Company had previously recorded the value of the services provided by Sportech under the Sportech MSA to prepaid assets, to be recognized as a professional services expense in the Consolidated Statements of Operations over the term of the agreement. Due to the termination of the agreement, the Company reduced prepaid assets and non-controlling interest accounts for the value of the returned 4,200 shares of DDGG stock, and expensed the remaining value of the Sportech services, except for 45 days of transitional services. The value of returned DDGG shares was determined by a third-party valuation firm as of June 30, 2016 using Level 3 inputs. The termination of the Sportech MSA will require DDGG to begin performing certain functions on its own.

DDGG Intangibles and Goodwill Impairment

As noted above, at June 30, 2016, the Sportech MSA terminated, which led to a significantly lower revenues forecast for the reporting unit. As a result, the Company determined that intangible assets related to internally developed software, trade name and non-compete agreements were impaired as of June 30, 2016. The Company recorded a loss of $749 on intangible assets related to DDGG during the year ended June 30, 2016. There was no impairment of goodwill (see Note 3, Summary of Significant Accounting Policies).

This acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, "Business Combinations". Under the acquisition method, the consideration transferred is measured at the acquisition closing date. The assets of the DraftDay Business have been measured based on various estimates using assumptions that the Company’s management believes are reasonable utilizing information currently available. Use of different estimates and judgments could yield different results. In the quarter ended June 30, 2015, the Company completed the analysis of certain acquired assets and assumed liabilities, including, but not limited to, other identifiable intangible assets such as customer lists, technology, trade name and non-competition agreements. Therefore, the Company finalized its allocation of the purchase price to the underlying net assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with any excess of the purchase price allocated to goodwill. These valuations were conducted using Level 3 inputs as described in ASC 820, Fair Value Measurements and Disclosures, that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

A summary of the fair value of consideration transferred for this acquisition and the fair value of the assets and liabilities at the date of acquisition is as follows (amounts in thousands):

Consideration transferred:
Shares of Viggle common stock on closing market price at issuance	$	1,760
Notes issued to sellers	2,250
Total consideration transferred	4,010
Purchase allocation:
Goodwill	1,591
Intangible assets	3,012
Other Assets	799
Total liabilities	(1,392		)
	$	4,010

The operations of this acquisition are not material, and thus, pro forma disclosures are not presented.

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Property and Equipment

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and Equipment consists of the following:

	September 30, 2016			June 30, 2016
Leasehold Improvements	$	2,261		$	2,261
Furniture and Fixtures	588			588
Computer Equipment	456			456
Software	164			164
Total	3,469			3,469
Accumulated Depreciation and Amortization	(2,132		)	(2,055		)
Property and Equipment, net	$	1,337		$	1,414

Depreciation and amortization charged to selling, general and administrative expenses for the three months ended September 30, 2016 and 2015 amounted to $77 and $53, respectively.

Property and Equipment

Property and Equipment consists of the following:

Description	June 30, 2016			June 30, 2015
Leasehold Improvements	$	2,261		$	2,886
Furniture and Fixtures	588			588
Computer Equipment	456			458
Software	164			5
Total	3,469			3,937
Accumulated Depreciation and Amortization	(2,055		)	(1,603		)
Property and Equipment, net	$	1,414		$	2,334

Depreciation and amortization charges included in Selling, general and administrative expenses for the years ended June 30, 2016 and 2015 amounted to $512 and $656, respectively.

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Intangible Assets and Goodwill

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

Intangible Assets and Goodwill

		September 30, 2016										June 30, 2016
Description	Amortization Period		Amount		Accumulated Amortization				Carrying Value			Amount			Accumulated Amortization				Carrying Value
Wetpaint technology	60 months		$	4,952		$	(3,368	)		$	1,584		$	4,952		$	(3,276	)		$	1,676
Wetpaint trademarks	276 months		1,453			(427		)		1,026			1,453			(415		)		1,038
Wetpaint customer relationships	60 months		917			(832		)		85			917			(827		)		90
Choose Digital licenses	60 months		829			(574		)		255			829			(559		)		270
Choose Digital software	60 months		627			(234		)		393			627			(212		)		415
DraftDay tradename	84 months		180			(50		)		130			180			(38		)		142
Draftday non-compete agreements	6 months		30			(30		)		—			30			(30		)		—
DraftDay internally generated capitalized software	60 months		1,498			(394		)		1,104			1,498			(303		)		1,195
DraftDay customer relationships	24 months		556			(456		)		100			556			(351		)		205
Rant trademarks	120 months		2,700			(56		)		2,644			—			—				—
Rant content	24 months		650			(68		)		582			—			—				—
Rant technology	60 months		1,500			(64		)		1,436			—			—				—
Rant advertising relationships	24 months		650			(68		)		582			—			—				—
Other	various		326			(18		)		308			326			(18		)		308
Total			$	16,868		$	(6,639	)		$	10,229		$	11,368		$	(6,029	)		$	5,339

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 and to the DraftDay business in the quarter ended June 30, 2016. The changes in the gross amounts and useful lives of intangibles related to the Wetpaint, Choose Digital and DraftDay businesses, and to internally generated capitalized software, are a result of these write-downs during the three months ended December 31, 2015 and June, 30, 2016, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs. See Note 6, Acquisitions, for a detailed description of DraftDay and Rant assets and liabilities purchased and their fair values on the date of the acquisition.

Amortization of intangible assets included in selling, general and administrative expenses for the three months ended September 30, 2016 and 2015 amounted to $610 and $797, respectively.  

Future annual amortization expense expected is as follows:

Years ending June 30,
2017	$	2,370
2018	$	3,026
2019	$	1,730
2020	$	1,367
2021	$	1,036

Goodwill consists of the following:

Description	Amount
Balance at July 1, 2016	$	11,270
Rant preliminary purchase price allocation	7,589
Balance at September 30, 2016	$	18,859

Intangible Assets and Goodwill

Intangible Assets and Goodwill

Intangible assets consist of the following:

		June 30, 2016							June 30, 2015
	Amortization			Accumulated			Carrying				Accumulated			Carrying
Description	Period	Amount		Amortization			Value		Amount		Amortization			Value
Wetpaint technology	60 months	$	4,952	$	(3,276	)	$	1,676	$	10,600	$	(2,336	)	$	8,264
Wetpaint trademarks	276 months	1,453		(415		)	1,038		5,800		(296		)	5,504
Wetpaint customer relationships	60 months	917		(827		)	90		2,000		(617		)	1,383
Wetpaint non-compete agreements	36 months	—		—			—		609		(313		)	296
Choose Digital licenses	60 months	829		(559		)	270		1,740		(355		)	1,385
Choose Digital software	60 months	627		(212		)	415		550		(112		)	438
DraftDay tradename	84 months	180		(38		)	142		—		—			—
Draftday non-compete agreements	6 months	30		(30		)	—		—		—			—
DraftDay internally generated capitalized software	60 months	1,498		(303		)	1,195		—		—			—
DraftDay customer relationships	24 months	556		(351		)	205		—		—			—
Internally generated capitalized software	36 months	—		—			—		1,610		(515		)	1,095
Other	various	326		(18		)	308		326		(8		)	318
Total		$	11,368	$	(6,029	)	$	5,339	$	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 and to the DraftDay business in the quarter ended June 30, 2016. The changes in the gross amounts and useful lives of intangibles related to the Wetpaint, Choose Digital and DraftDay businesses, and to internally generated capitalized software, are a result of these write-downs during the three months ended December 31, 2015 and June, 30, 2016, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs. See Note 6, Acquisitions, for a detailed description of DraftDay assets and liabilities purchased and their fair values on the date of the acquisition.

Amortization of intangible assets included in selling, general and administrative expenses for the years ended June 30, 2016 and 2015 amounted to $1,227 and $3,497, respectively.  Future annual amortization expense expected is as follows:

Years Ending June 30	Amount
2017	$	1,194
2018	966
2019	919
2020	919
2021	670

The activity in the goodwill balance consists of the following:

Description	Amount
Balance at June 30, 2015	$	24,722
Acquisition of DDGG	1,591
Wetpaint impairment loss	(10,708		)
Choose Digital impairment loss	(4,335		)
Balance at June 30, 2016	$	11,270

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Loans Payable

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Debt Disclosure [Abstract]

Loans Payable

Loans Payable

		Total
	Maturity Date	Facility Amount		September 30, 2016		June 30, 2016
Convertible Debentures (the "Debentures"), net of discount	7/11/2017	$	4,444	$	3,155	$	—
Secured Convertible Promissory Note (the "Secured Convertible Note")	7/8/2017	3,000		3,500		—
Line of Credit Promissory Note (the "Note")	10/24/2017	20,000		—		19,716
Line of Credit Grid Note (the "Grid Note")	12/31/2016	10,000		900		4,563
Secured Line of Credit (the "Secured Revolving Loan I")	12/31/2016	1,500		—		1,500
Secured Line of Credit (the "Secured Revolving Line of Credit")	12/31/2016	500		—		500
Secured Revolving Loan (the "Secured Revolving Loan")	12/31/2016	500		—		500
Secured Revolving Loan II (the "Secured Revolving Loan II")	12/31/2016	500		—		500
Secured Revolving Loan III (the "Secured Revolving Revolving Loan III")	12/31/2016	1,200		—		135
Convertible Promissory Note (the "RI Convertible Note")	12/31/2016	300		300		300
MGT Promissory Notes (the "MGT Promissory Notes")	7/31/2016	2,109		943		943
Kuusamo Promissory Notes (the "Kuusamo Promissory Notes")	3/8/2016	141		55		55
Total Loans Payable, net				$	8,853	$	28,712

Convertible Debentures

On July 12, 2016, the Company closed a private placement (the "Private Placement") of $4,444 principal amount of convertible debentures (the "Debentures") and common stock warrants (the "Warrants".) The Debentures and Warrants were issued pursuant to a Securities Purchase Agreement, dated July 12, 2016 (the “Purchase Agreement”), by and among the Company and certain accredited investors within the meaning of the Securities Act of 1933, as amended (the “Purchasers”). Upon the closing of the Private Placement, the Company received gross proceeds of $4,000 before placement agent fees, original issue discount, and other expenses associated with the transaction. $1,162 of the proceeds was used to repay the Grid Note. The placement agent fees of $420 and original issue discount of $444 were recorded as a reduction to the debenture balance and will be accreted to interest expense over the term of the Debentures.

The Debentures mature on the one-year anniversary of the issuance date thereof. The Debentures are convertible at any time at the option of the holder into shares of the the Company's common stock at an initial conversion price of $6.2660 per share (the “Conversion Price”). Based on such initial Conversion Price, the Debentures will be convertible into up to 780,230 shares of common stock. If we issue or sell shares of our common stock, rights to purchase shares of our common stock, or securities convertible into shares of our common stock for a price per share that is less than the Conversion Price then in effect, the Conversion Price then in effect will be decreased to equal such lower price. The adjustments to the Conversion Price will not apply to certain exempt issuances, including issuances pursuant to certain employee benefit plans or for certain acquisitions. In addition, the Conversion Price is subject to adjustment upon stock splits, reverse stock splits, and similar capital changes. However, in no event will the Conversion Price be less than $0.10 per share. The Debentures are secured by a first priority lien on substantially all of the Company's assets in accordance with a security agreement.

The Debentures bear interest at 10% per annum with interest payable upon maturity or on any earlier redemption date. At any time after the issuance date, we will have the right to redeem all or any portion of the outstanding principal balance of the Debentures, plus all accrued but unpaid interest at a price equal to 120% of such amount. The holders of Debentures shall have the right to convert any or all of the amount to be redeemed into common stock prior to redemption. Subject to certain exceptions, the Debentures contain customary covenants against incurring additional indebtedness and granting additional liens and contain customary events of default. Upon the occurrence of an event of default under the Debentures, a holder of Debentures may require the Company to pay the greater of (i) the outstanding principal amount, plus all accrued and unpaid interest, divided by the Conversion Price multiplied by the daily volume weighted average price or (ii) 115% of the outstanding principal amount plus 100% of accrued and unpaid interest. Pursuant to the Debentures, the Company is required to make amortizing payments of the aggregate principal amount, interest, and other amounts outstanding under the Debentures. Such payments must be made beginning three months from the issuance of the Debentures and on the monthly anniversary through and including the maturity date. The Amortization Amount is payable in cash or in shares of our common stock pursuant to the conversion mechanism contained in the Debentures.

On July 20, 2016, the Company and the Purchasers entered into an Amendment to Securities Purchase Agreement and Consent to Modify Debentures (the “Amendment and Consent”). The Amendment and Consent provides that, while the Debentures are outstanding, Mr. Sillerman will guarantee that the Company shall have $1,000 available in its commercial bank account or otherwise available in liquid funds. At any time when the Company's available funds fall below $1,000, Mr. Sillerman will provide (the “Sillerman Guaranty”) the amounts necessary to make-up the shortfall in an aggregate amount not to exceed $6,000; however, the first $5,000 of the guaranty shall be provided by drawing down on our Line of Credit with SIC IV. Any remaining amounts, up to a maximum aggregate of $1,000 million shall be provided by Sillerman. In connection with the Sillerman Guaranty, the Company's independent directors approved a fee of $100 as compensation for providing such guaranty.

As a part of the Private Placement, the Company issued Warrants to the Purchasers providing them with the right to purchase up to an aggregate of 354,650 shares of the Company’s common stock at an initial exercise price of $6.5280 per share. Subject to certain limitations, the Warrants are exercisable on any date after the date of issuance and the exercise price for the Warrant is subject to adjustment for certain events, such as stock splits and stock dividends. If the Company issues or sells shares of its common stock, rights to purchase shares of its common stock, or securities convertible into shares of its common stock for a price per share that is less than the conversion price of the Debentures, the exercise price of the Warrants will be decreased to a lower price based on the amount by which the conversion price of the Debentures was reduced due to such transaction. The foregoing adjustments to the exercise price for future stock issues will not apply to certain exempt issuances, including issuances pursuant to certain employee benefit plans or for certain acquisitions. In addition, the exercise price is subject to adjustment upon stock splits, reverse stock splits, and similar capital changes. The Warrants will expire 5 years from the initial issuance date. The fair value of the warrants as of July 12, 2016 was determined to be $1,500 and the offset was recorded as a debt discount. The warrants are recorded as a liability due to the adjustment of the exercise price due to subsequent common stock issuances.

The Purchasers shall not have the right to convert the Debentures or exercise the Warrants to the extent that such conversion or exercise would result in such Purchaser being the beneficial owner in excess of 4.99% of our common stock. In addition, the Purchasers have no right to convert the Debentures or exercise the Warrants if the issuance of the shares of common stock upon such conversion or exercise would exceed the aggregate number of shares of our common stock which we may issue upon conversion of the Note and exercise of the Warrants without breaching our obligations under NASDAQ listing rules. Such limitation does not apply if our shareholders approve such issuances. We intend to promptly seek shareholder approval for issuances of shares of common stock issuable upon conversion of the Debentures and exercise of the Warrants.

In connection with the Private Placement, the Company and the Purchasers entered into a Registration Rights Agreement under which the Company was required, on or before 30 days after the closing of the Private Placement, to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of its common stock issuable pursuant to the Debentures and Warrants and to use commercially reasonable efforts to have the registration declared effective as soon as practicable, but in no event later than 90 days after the filing date. The Company will be subject to certain monetary penalties, as set forth in the Registration Rights Agreement, if the registration statement is not filed, does not become effective on a timely basis, or does not remain available for the resale (subject to certain allowable grace periods) of the Registrable Securities, as such term is defined in the Registration Rights Agreement.

Also in connection with the Private Placement, certain stockholders of the Company have executed Lock-Up Agreements, pursuant to which they have agreed not to sell any shares of the Company's common stock until the later of (i) six months following the issuance of the Debentures or (ii) 90 days following the effectiveness of a resale registration statement filed pursuant to the requirements of the Registration Rights Agreement.

The Company valued the Debentures as of July 12, 2016, the issuance date, using the methods of fair value as described ASC 820, "Fair Value Measurements and Disclosures" ("ASC 820"). The fair value of the conversion feature in the Debentures was determined to be $1,856 as of July 12, 2016 and the offset was recorded as a debt discount.

On October 12, 2016, the first amortization payment in the amount of $444, plus accrued interest of approximately $114 pursuant to the terms of the Debentures became due and payable to the Purchasers. The Company did not make such payment at the time it was due.

The Company has also not maintained the Minimum Cash Reserve as required by the Purchase Agreement. Pursuant to the terms of the Debentures, the failure to cure the failure to maintain the Minimum Cash Reserve within three trading days constitutes an Event of Default. Among other things: (1) at the Purchaser’s election, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, plus all interest that would have been earned through the one year anniversary of the original issue date if such interest has not yet accrued, liquidated damages and other amounts owed through the date of acceleration, shall become, immediately due and payable in either cash or stock pursuant to the terms of the Debentures; and (2) the interest rate on the Debentures will increase to the lesser of 18% or the maximum allowed by law. In addition to other remedies available to the Purchasers, our obligation to repay amounts due under the Debentures is secured by a first priority security interest in and lien on all of our assets and property, including our intellectual property, and such remedies can be exercised by the Purchasers without additional notice to the Company.

The Company entered into waiver agreements with respect to the initial amortization payments due under the Debentures with Purchasers holding approximately 87% of the Debentures. The Waivers entered into with some of the Purchasers related to the failure to pay the amortization amounts do not address the failure to maintain the Minimum Cash Reserve.

Pursuant to the terms of the Debentures, the failure to cure the non-payment of the amortization amount within three trading days after the date such payment was due constitutes an Event of Default. Following the occurrence of an event of default, among other things: (1) at the Purchaser’s election, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, plus all interest that would have been earned through the one year anniversary of the original issue date if such interest has not yet accrued, liquidated damages and other amounts owed through the date of acceleration, shall become, immediately due and payable in either cash or stock pursuant to the terms of the Debentures; and (2) the interest rate on the Debentures will increase to the lesser of 18% or the maximum allowed by law. In addition to other remedies available to the Purchasers, our obligation to repay amounts due under the Debentures is secured by a first priority security interest in and lien on all of our assets and property, including our intellectual property, and such remedies can be exercised by the Purchasers without additional notice to the Company.

The Company did not receive a waiver from one of its debenture holders, holding approximately 13% of the principal amount of the Debentures with respect to the event of default arising out of the Company’s failure to make the first amortization payment when due. Pursuant to the terms of the Debentures, such holder has sent a notice of acceleration, stating that the Company owes $696, reflecting the principal amount of the Debenture plus interest through November 1, 2016. Interest will accrue at 18% until this amount is satisfied. The Company is seeking to settle the matter with the holder; however, there can be no assurance that an agreement will be reached.

Secured Convertible Promissory Note

On July 8, 2016 the Company issued a Secured Convertible Promissory Note (the “Secured Convertible Note”) to Rant in the amount of $3,000 as part of the consideration for the purchase of the Rant Assets.

The $3,000 Secured Convertible Note matures on July 8, 2017 barring any events of default or a change of control of the Company. The Secured Convertible Note bears interest at 12% per annum, payable at maturity. At the election of Rant, the Secured Convertible Note is convertible into shares of the Company’s common stock at a price equal to the lower of (i) $5.20 per share, or (ii) such lower price as may have been set for conversion of any debt or securities into common stock held on or after the date hereof by Sillerman until the first to occur of March 31, 2017 or the date the Note has been satisfied or converted (for the purposes hereof Robert F.X. Sillerman is the Company’s Executive Chairman and Chief Executive Officer and/or any affiliate of Robert F.X. Sillerman is herein collectively, “Sillerman”). The Company valued the conversion feature at issuance using methods of fair value as described in ASC 820 and it was determined to be $500. In connection with the Secured Convertible Note, the Company has entered into a Note Purchase Agreement (the “NPA”) and a Security Agreement (the “Rant Security Agreement”) with Rant, under which the Company has granted Rant a continuing security interest in substantially all assets of the Company. In connection with the issuance of the Secured Convertible Note, Sillerman and Rant entered into a subordination agreement subordinating repayment of the notes to the Debentures (as described in (b) hereof) and entered into an Intercreditor Agreement providing for the parties’ respective rights and remedies with respect to payments against the collateral held as security for both of them.

The events of default under the Debentures noted above also constituted a default under the Secured Convertible Note issued in connection with the acquisition of Rant. The holder of the Secured Convertible Note has executed a waiver that provides that, until May 15, 2017, the events of default arising out of the failure to pay the amounts due under the Debentures as of the date of the waiver and the failure by the Company to maintain the Minimum Cash Reserve shall not constitute events of default for purposes of the Secured Convertible Note.

Line of Credit Promissory Note

On October 24, 2014, the Company and SIC III, a company affiliated with Mr. Sillerman, entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") pursuant to which SIC III agreed to purchase certain securities issued by the Company for a total of $30,000. Pursuant to the Securities Purchase Agreement, the Company issued a Line of Credit Promissory Note (the “Note”), which provides for a $20,000 line of credit to the Company (see Note 11, Stockholders' Equity, for a discussion of the remaining $10,000 of the Securities Purchase Agreement). The Company also agreed to issue to SIC III warrants to purchase 1,000,000 shares of the Company’s common stock. The Company issued warrants to purchase 50,000 shares of the Company’s common stock for every $1,000 advanced under the Note. The warrants will be issued in proportion to the amounts the Company draws under the Note. The exercise price of the warrants will be 10% above the closing price of the Company’s shares on the date prior to the issuance of the warrants. Exercise of the warrants was subject to approval of the Company’s stockholders, which occurred on January 13, 2015.

The Note provides a right for the Company to request advances under the Note from time to time. The Note bears interest at a rate of 12% per annum, payable in cash on a quarterly basis. The Note matures on October 24, 2017. On October 24, 2014, SIC III made an initial advance under the Note in the principal amount of $4,500. On December 15, 2014, SIC III made an additional advance in the principal amount of $15,500 pursuant to the terms of the Note (the proceeds of which were used to repay amounts outstanding under the DB Line, as discussed above). As of September 30, 2016, the total outstanding principal amount of the Note was $20,000. The Note provides for a 3% discount, such that the amount advanced by SIC III was 3% less than the associated principal amount of the advances. Therefore, the net amount actually outstanding under the Note at September 30, 2016, was $19,666, which includes accretion of the discount of $266 (the 3% discount of $600 is being accreted to the principal balance over the life of the Note). From and after the occurrence and during the continuance of any event of default under the Note, the interest rate is automatically increased to 17% per annum.

In connection with the first drawdown of $4,500 under the Note, the Company issued SIC III warrants to purchase 11,250 shares of the Company’s common stock. These warrants have an exercise price of $70.20, representing a price equal to 10% above the closing price of the Company’s common stock on the day prior to issuance. In connection with the additional drawdown of $15,500 under the Note, the Company issued SIC III warrants to purchase 38,750 shares of the Company's common stock. These warrants have an exercise price of $72.60, representing a price equal to 10% above the closing price of the Companys common stock on the day prior to issuance. The warrants are exercisable for a period of five years from issuance. Stock compensation expense related to the issuances of warrants to SIC III was $2,049 during the year ended June 30, 2015.

The Note is not convertible into equity securities of the Company.

The Note also contains certain covenants and restrictions, including, among others, that, for so long as the Note is outstanding, the Company will not, without the consent of the holder of the Note, (i) make any loan or advance in excess of $500 to any officer, director, employee of affiliate of the Company (except advances and similar expenditures : (a) under the terms of employee stock or option plans approved by the Board of Directors, (b) in the ordinary course of business, consistent with past practice or (c) to its subsidiaries), (ii) incur any indebtedness that exceeds $1,000 in the aggregate other than indebtedness outstanding under the Note, (iii) guaranty any indebtedness of any unaffiliated third party, (iv) change the principal business of the Company or exit the Company's current business, provided that the foregoing is subject to the Board's compliance with its fiduciary duties, (v) sell, assign, or license material technology or intellectual property of the Company except (a) in the ordinary course of business, consistent with past practice, (b) sales and assignments thereof in any 12 month period that do not have a fair market value in excess of $500 or (c) in connection with a change of control transaction, (vi) enter into any corporate strategic relationship involving the payment, contribution or assignment by the Company of its assets that have a fair market value in excess of $1,000 or (vii) liquidate or dissolve the Company or wind up the business of the Company, except in connection with changes of control or merger, acquisition or similar transactions or as approved by the Company’s Board in compliance with their fiduciary duties.

On August 22, 2016, the Company and SIC III, entered into a Note Exchange Agreement pursuant to which $23,264, which represents all of the outstanding principal and accrued interest outstanding under the Notes, was exchanged for 23,264 shares of the Company’s Series C Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement. After the exchange, the Notes were retired.

Interest expense on the Note was $382 and $613 for the three months ended September 30, 2016 and 2015, respectively.

Line of Credit Grid Note

On June 11, 2015, the Company and Sillerman Investment Company IV, LLC ("SIC IV") entered into a Line of Credit Grid Note (the "Grid Note"). The Grid Note provides a right for the Company to request advances under the Grid Note from time to time in an aggregate amount of up to $10,000. The Grid Note bears interest at a rate of 12% per annum, payable in cash on the maturity of the Grid Note. From and after the occurrence and during the continuance of any event of default under the Grid Note, the interest rate is automatically increased to 14% per annum.

The Grid Note is not convertible into equity securities of the Company.

In order for the Company to make requests for advances under the Grid Note, the Company must have an interest coverage ratio equal to or greater than 1, unless SIC IV waives this requirement. The interest coverage ratio is calculated by dividing: (a) the Company’s net income for the measurement period, plus the Company’s interest expense for the measurement period, plus the Company’s tax expense for the measurement period, by (b) the Company’s interest expense for the measurement period, plus the amount of interest expense that would be payable on the amount of the requested draw for the twelve months following the request for the advance. The measurement period is the twelve months ended as of the last day of the last completed fiscal quarter prior to the request for the advance. The Company currently does not have an interest coverage ratio equal to or greater than 1, so advances would require the SIC IV to waive this requirement. In addition, in order to make requests for advances under the Grid Note, there can be no event of default under the Note at the time of the request for an advance, including that there has been no material adverse change in the business plan or prospects of the Company in the reasonable opinion of SIC IV.

The Grid Note matures on the first to occur of: (a) 12/31/2016 or (b) upon a “Change of Control Transaction.” A “Change of Control Transaction” includes (i) a sale of all or substantially all of the assets of the Company or (ii) the issuance by the Company of common stock that results in any “person” or “group” becoming the “beneficial owner” of a majority of the aggregate ordinary voting power represented by the Company’s issued and outstanding common stock (other than as a result of, or in connection with, any merger, acquisition, consolidation or other business combination in which the Company is the surviving entity following the consummation thereof), excluding transactions with affiliates of the Company.

If an event of default occurs under the Grid Note, SIC IV has the right to require the Company to repay all or any portion of the Grid Note.  An event of default is deemed to have occurred on: (i) the non-payment of any of the amounts due under the Grid Note within five (5) Business Days after the date such payment is due and payable; (ii) dissolution or liquidation, as applicable, of the Company; (iii) various bankruptcy or insolvency events shall have occurred, (iv) the inaccuracy in any material respect of any warranty, representation, statement, report or certificate the Company makes to Lender under the Note hereto; (v) the Company contests, disputes or challenges in any manner, whether in a judicial proceeding or otherwise, the validity or enforceability of any material provision in the Grid Note; or (vi) a material adverse change in the business plan or prospects of the Company in the reasonable opinion of SIC IV.

As of September 30, 2016 and June 30, 2016 the principal amount outstanding under the Grid Note was $900 and $4,563, respectively.

On July 8, 2016, the Company and SIC III, SIC IV and SIC VI entered into an Exchange Agreement pursuant to which, subject to adjustment, (i) 3,000 shares of the Company's Series C Preferred Stock owned by SIC III are to be exchanged for 890,898 shares of the Company's common stock and (ii) all of the debt held by Mr. Sillerman and such affiliates is to be exchanged for 5,066,654 shares of the Company's common stock. Issuance of the shares is conditioned upon approval of the Company’s shareholders, the closing of an offering of the Company’s common stock in the amount of at least $10,000, approval of its Listing of Additional Shares application with NASDAQ, the Company shall not be subject to any bankruptcy proceeding, and various other conditions. The exchange price shall be equal to the lesser of $5.20 and the price at which the Debentures can be exchanged for shares of the Company’s common stock. The Company received an independent valuation with respect to the original exchange that the exchange price of $5.20 reflects fair value. Any additional change is subject to the receipt by the Company of an updated fair value determination. The agreement provides for termination in the event the conditions are not satisfied by March 31, 2017. At the date of this filing, this transaction has not yet closed.

Amended Exchange Agreement/Amended Grid Note

On July 18, 2016, SIC III, SIC IV and SIC VI, LLC entered into an amendment to the Exchange Agreement relating to the exchange of debt and shares of the Series C Preferred Stock of the Company for shares of the Company's common stock. The Exchange Agreement modified the Grid Note to provide that SIC IV shall be entitled to repayment of up to $2,000 of the outstanding principal balance of the Grid Note and the Company shall be entitled to draw up to an additional $5,000. 

On August 22, 2016, the Company and SIC IV, entered into a Note Exchange Agreement pursuant to which $3,150, which represents all of the outstanding principal and accrued interest outstanding under the Grid Note other than $900, was exchanged for 3,150 shares of the Company’s Series C Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement. Therefore, the outstanding balance of the Grid Note at September 30, 2016 was $900.

Interest expense on the Grid Note for the three months ended September 30, 2016 and 2015 was $77 and $96, respectively.

In connection with the Company's entering into the Perk Credit Agreement (as defined below), SIC IV agreed to subordinate payment of the Grid Note to amounts owed to Perk under the Perk Credit Agreement. SIC IV also consented to the consummation of the Asset Purchase Agreement with Perk. In exchange for such consent and such agreement to subordinate, the Company agreed to provide SIC IV a security interest in the assets of the Company in connection with amounts outstanding under the Grid Note.

The Company entered into a Security Agreement with SIC IV , pursuant to which the Company pledged its assets in connection with such security interest. The foregoing descriptions of the Security Agreement is qualified in its entirety by reference to the full text of the form of Security Agreement.

Secured Revolving Loans and Lines of Credit

On January 27, 2016, Sillerman Investment Company VI LLC (“SIC VI”), an affiliate of Robert F.X. Sillerman, the Executive Chairman and Chief Executive Officer of the Company, entered into a Secured Revolving Loan agreement (the “Secured Revolving Loan I”) with the Company and its subsidiaries, wetpaint.com, Inc. and Choose Digital Inc. (collectively, the “Subsidiaries”), pursuant to which the Company can borrow up to $1,500.  The Secured Revolving Loan bears interest at the rate of 12% per annum. In connection with the Secured Revolving Loan, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc. The Company intends to use the proceeds from the Secured Revolving Loan to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  As of June 30, 2016, $1,500 had been advanced thereunder.  Interest expense on the Secured Revolving Loan I was $27 for the three months ended September 30, 2016.

The Company and its subsidiaries wetpaint.com, inc., and Choose Digital, Inc. (the "Subsidiaries") entered into a secured, revolving Line of Credit on March 29, 2016 with SIC VI (the “Secured Revolving Line of Credit”), pursuant to which the Company can borrow up to $500.  The Secured Revolving Line of Credit bears interest at the rate of 12% per annum.
In connection with the Secured Revolving Line of Credit, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc.  The Company intends to use the proceeds from the Secured Revolving Line of Credit to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  At June 30, 2016, $500 had been advanced thereunder.  Interest expense on the Secured Revolving Line of Credit was $9 for the three months ended September 30, 2016.

On April 29, 2016, SIC VI entered into an additional secured revolving loan agreement with the Company and the Subsidiaries ("Secured Revolving Loan"), pursuant to which the Company can borrow up to $500. Loans under this loan agreement bear interest at the rate of 12% per annum and mature on December 31, 2016, barring any events of default or a change of control of the Company. As of June 30, 2016, $500 had been advanced thereunder.  Interest expense on the Secured Revolving Loan was $9 for the three months ended September 30, 2016.

On May 16, 2016, SIC VI entered into an additional secured revolving loan agreement with the Company and the Subsidiaries ("Secured Revolving Loan II"), pursuant to which the Company can borrow up to $500. Loans under this loan agreement bear interest at the rate of 12% per annum and mature on December 31, 2016, barring any events of default or a change of control of the Company. As of June 30, 2016, $500 had been advanced thereunder. Interest expense on the Secured Revolving Loan II was $9 for the three months ended September 30, 2016.

On June 27, 2016, SIC VI entered into a secured revolving loan agreement (the “Secured Revolving Loan III”) with the Company and its subsidiaries, pursuant to which the Company can borrow up to $1,200. The Secured Revolving Loan III bears interest at the rate of 12% per annum and matures on December 31, 2016, barring any events of default or a change of control of the Company. At June 30, 2016, $135 had been advanced thereunder. Interest expense on the Secured Revolving Loan III was $8 for the three months ended September 30, 2016.

On August 22, 2016, the Company and SIC VI entered into a Note Exchange Agreement pursuant to which $3,608, which represents all of the outstanding principal and accrued interest of certain notes held by SIC VI was exchanged for 3,608 shares of the Company’s Series C Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement. The Secured Revolving Loans and Lines of Credit were retired with the exchange transaction.

Related Approvals

Because each of the transactions referred to in the foregoing sections involved Mr. Sillerman, or an affiliate of his, the transactions were subject to certain rules regarding "affiliate" transactions. As such, each was approved by a Special Committee of the Board of Directors and a majority of the independent members of the Board of Directors of the Company.

Convertible Promissory Note

On June 27, 2016, the Company entered into a Convertible Promissory Note with Reaz Islam (“RI”), the Company's Chief of Staff, pursuant to which RI loaned the Company $300 (the “RI Convertible Note”).  The RI Convertible Note bears interest at a rate of 12% and matures on December 31, 2016. RI shall have the right to convert the RI Convertible Note into shares of the common stock of the Company at such time, on such terms, and in accordance with such procedures as Mr. Sillerman shall have the right to convert debt held by Mr. Sillerman or his affiliates into shares of the Company’s common stock. The RI Convertible Note is subordinate to any note held by Mr. Sillerman or his affiliates and RI has agreed to execute any agreement reasonably required in connection therewith. As of September 30, 2016 and June 30, 2016, $300 of principal was outstanding under the RI Convertible Note.

Promissory Notes

In accordance with the Assets Purchase Agreement to purchase the DraftDay Business (see Note 6, Acquisitions), the Company issued promissory notes to MGT Capital ("MGT Promissory Notes") in the principal amount of $234 due and paid on September 29, 2015 and in the aggregate principal amount of $1,875 due March 8, 2016.  The Company was not able to make the payment at the due date and on March 24, 2016 converted $824 of the promissory notes to common stock and $110 of the promissory notes to a Series D Preferred Stock (see Note 11, Stockholders' Equity (Deficit)). All such notes bear interest at a rate of 5% per annum.   On April 13, 2016, MGT converted all 110 shares of the Company's Series D Preferred Stock into shares of common stock of the Company. Accordingly, the Company issued 18,332 shares of common stock to MGT. Thereafter, there are no shares of the Company's Series D Preferred Stock outstanding.

On June 14, 2016, the Company entered into a second exchange agreement with MGT (the “Second MGT Exchange Agreement”) relating to the $940 remaining due under the MGT Note (see Note 6, Acquisitions). Under the Second MGT Exchange Agreement, the MGT Note shall be exchanged in full for (a) $11 in cash representing accrued interest and (b) 132,092 shares of Company common stock, subject to certain adjustments. Issuance of the shares is conditioned upon approval of the Company’s shareholders and approval of its Listing of Additional Shares application with NASDAQ. Therefore, the outstanding balance of the MGT Promissory Notes was $943 at September 30, 2016. The Company recorded interest expense of $12 for the three months ended September 30, 2016. On October 10, 2016, the Company satisfied the MGT Note through the issuance of 136,304 shares of its common stock and payment of interest of $16.

In exchange for releasing certain liens and encumbrances with respect to the DraftDay Business(see Note 6, Acquisitions), the Company issued promissory notes to Kuusamo Capital Ltd. ("Kuusamo Promissory Notes") in the principal amount of $16 due and paid on September 29, 2015 and in the aggregate principal amount of $125 due March 8, 2016.  The Company was not able to make the payment at the due date. All such notes bear interest at a rate of 5% per annum.  

The outstanding balance of the Kuusamo Promissory Notes was $55 at September 30, 2016. The Company recorded interest expense of $1 for the three months ended September 30, 2016.

Accounts Payable Settlements

North America Photon Infotech Ltd. (“Photon”), a company based in Mauritius that had provided development services to the Company, filed suit in California on March 28, 2016 to collect approximately $218 owed by the Company to Photon. The Company settled this matter on May 12, 2016 in part by issuing a Note in the amount of $110, payable in six months. Such note was settled on November 15, 2016 with the issuance of 31,510 shares of the Company's common stock.

On April 7, 2016, the Company issued a note in the amount of $56 to Simulmedia, Inc., a former vendor of the Company, as partial settlement of the outstanding balance due to Simulmedia, Inc. for services provided.

Pandera Systems, LLC (“Pandera”), which formerly provided analytics development services to the Company, filed suit on March 11, 2016 against the Company to demand collection of amounts due for such services. The Company settled this matter on April 12, 2016, in part by issuing a note in the amount of $50.

Interest expense on these notes issued in connection with settlements with vendors was $14 for the three months ended September 30, 2016.

Loans Payable

		Total		Outstanding Balances
Facility Name	Maturity Date	Facility Amount		June 30, 2016		June 30, 2015
Term Loan Agreement ("DB Line")	Retired	$	15,000	$	—	$	—
Line of Credit Promissory Note (the "Note")	10/24/2017	20,000		19,716		19,516
Unsecured Demand Loans (the "Loans")	On Demand	—		—		1,575
Line of Credit Grid Note (the "Grid Note")	12/31/2016	10,000		4,563		3,000
Secured Line of Credit (the "Secured Revolving Loan I")	12/31/2016	1,500		1,500		—
Secured Line of Credit (the "Secured Revolving Line of Credit")	12/31/2016	500		500		—
Secured Revolving Loan (the "Secured Revolving Loan")	12/31/2016	500		500		—
Secured Revolving Loan II (the "Secured Revolving Loan II")	12/31/2016	500		500		—
Secured Revolving Loan III (the "Secured Revolving Revolving Loan III")	12/31/2016	1,200		135		—
Convertible Promissory Note (the "RI Convertible Note")	12/31/2016	300		300		—
MGT Promissory Notes (the "MGT Promissory Notes")	7/31/2016	2,109		943		—
Kuusamo Promissory Notes (the "Kuusamo Promissory Notes")	3/8/2016	141		55		—
Total Loans Payable				$	28,712	$	24,091

Term Loan Agreement

On March 11, 2013, Viggle entered into a Term Loan Agreement (the “DB Line”) with Deutsche Bank Trust Company Americas (“Deutsche Bank”), under which Deutsche Bank agreed to loan the Company up to $10,000.  The Company may, from time to time, request advances (the “Advances”) from the DB Line in amounts of no less than $1,000.

On December 13, 2013, the Company entered into an amendment (the “Amendment”) to the DB Line. Pursuant to the Amendment, the line of credit was increased to $30,000, and the maturity date was extended from December 16, 2013 to April 30, 2014.

The interest rate on the outstanding balance was lowered as a result of the Amendment. Previously, the interest rate on the outstanding balance was, at the Company’s election, a per annum rate equal to the LIBOR Rate plus 4.00% or (ii) the Prime Rate plus 1.75%. Pursuant to the Amendment, the interest rate on the outstanding balance was lowered to a per annum rate, at the Company’s option, of the LIBOR Rate plus 2.50%, or the Prime Rate plus 0.25%. Interest is payable monthly in arrears.

The Company may make prepayments, in whole or in part, under the DB Line at any time, as long as all accrued and unpaid interest thereon is paid through the prepayment date.

On December 13, 2013, the Company made a draw under the DB Line of $16,951, bringing the total draws to $26,951. The proceeds of this draw were used to repay amounts outstanding under the Company's previous Amended and Restated $25,000 Line of Credit. On December 19, 2013, the Company drew the remaining amount available under the DB Line of $3,049. The Company used the proceeds from the final draw on the DB Line to fund working capital requirements and for general corporate purposes.

On February 13, 2014, the Company entered into a further amendment (the "February Amendment") to the DB Line.   Pursuant to the February Amendment, the maturity date of the DB Line was extended to December 31, 2014, and the mandatory prepayment provision was amended to provide that only the first $10,000 in net cash proceeds from an equity offering shall be required to be used to prepay amounts outstanding under the DB Line.  

On March 11, 2014, the Company entered into a further amendment (the "March Amendment") to the DB Line. Pursuant to the March Amendment, the line of credit was increased from $30,000 to $35,000, providing the Company with an additional $5,000 for working capital purposes. Concurrent with the March Amendment, on March 11, 2014, the Company entered into a Pledge and Security Agreement with Deutsche Bank pursuant to which it agreed to provide Deutsche Bank a security interest in $5,000 in cash, as well as a pledge to secure the prompt and timely payment of all obligations under the DB Line. The Pledge and Security Agreement will remain in place as long as there are any obligations outstanding under the DB Line. The $5,000 is classified as short term restricted cash in the accompanying Consolidated Balance Sheet as of June 30, 2014.

On April 30, 2014, the Company repaid $10,000 of the DB Line in accordance with the February Amendment discussed above. On June 13, 2014, the Company repaid an additional $10,000 of the DB Line. Each repayment reduced the amount available on the DB Line.

On December 15, 2014, the Company repaid the remaining $15,000 outstanding under the DB Line from the proceeds of the Line of Credit Promissory Note (see description below). After this repayment, the DB Line was retired.

The DB Line did not contain any financial covenants.

Repayment of the DB Line was guaranteed by Mr. Sillerman.  In consideration for the guarantee, Mr. Sillerman's designee, Sillerman Investment Company II LLC ("SIC II"), which was the lender under the Amended and Restated $25,000 Line of Credit described below, received a warrant for 6,250 shares of common stock of Viggle, which may be exercised at any time within 60 months of the issuance date at $1,600 a share, (subject to adjustment in the event of stock splits and combination, reclassification, merger or consolidation)(the “Guarantee Warrant”). The Guarantee Warrant contains a piggyback registration right with respect to the underlying common stock which may be issued if it is exercised.  The Guarantee Warrant was issued in a transaction exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(a)(2) thereunder and Rule 506 of Regulation D promulgated thereunder. 

The Company used the proceeds from the DB Line to fund working capital requirements and for general corporate purposes.

Interest expense on the DB Line for the year ended June 30, 2015 was $185.

Line of Credit Promissory Note

On October 24, 2014, the Company and Sillerman Investment Company III LLC ("SIC III"), a company affiliated with Mr. Sillerman entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") pursuant to which SIC III agreed to purchase certain securities issued by the Company for a total of $30,000. Pursuant to the Securities Purchase Agreement, the Company issued a Line of Credit Promissory Note (the “Note”), which provides for a $20,000 line of credit to the Company (see Note 11, Stockholders' (Deficit) Equity, for a discussion of the remaining $10,000 of the Securities Purchase Agreement). The Company also agreed to issue to SIC III warrants to purchase 50,000 shares of the Company’s common stock. The Company issued warrants to purchase 2,500 shares of the Company’s common stock for every $1,000 advanced under the Note. The warrants will be issued in proportion to the amounts the Company draws under the Note. The exercise price of the warrants will be 10% above the closing price of the Company’s shares on the date prior to the issuance of the warrants. Exercise of the warrants was subject to approval of the Company’s stockholders, which occurred on January 13, 2015.

The Note provides a right for the Company to request advances under the Note from time to time. The Note bears interest at a rate of 12% per annum, payable in cash on a quarterly basis. The Note matures on October 24, 2017. On October 24, 2014, SIC III made an initial advance under the Note in the principal amount of $4,500. On December 15, 2014, SIC III made an additional advance in the principal amount of $15,500 pursuant to the terms of the Note (the proceeds of which were used to repay amounts outstanding under the DB Line, as discussed above). As of June 30, 2015, the total outstanding principal amount of the Note was $20,000. The Note provides for a 3% discount, such that the amount advanced by SIC III was 3% less than the associated principal amount of the advances. Therefore, the net amount actually outstanding under the Note at June 30, 2016, was $19,716 which includes accretion of the discount of $316 (the 3% discount of $600 is being accreted to the principal balance over the life of the Note). From and after the occurrence and during the continuance of any event of default under the Note, the interest rate is automatically increased to 17% per annum.

In connection with the first drawdown of $4,500 under the Note, the Company issued SIC III warrants to purchase 11,250 shares of the Company’s common stock. These warrants have an exercise price of $70.20, representing a price equal to 10% above the closing price of the Company’s common stock on the day prior to issuance. In connection with the additional drawdown of $15,500 under the Note, the Company issued SIC III warrants to purchase 38,750 shares of the Company's common stock. These warrants have an exercise price of $72.60, representing a price equal to 10% above the closing price of the Company's common stock on the day prior to issuance. The Warrants are exercisable for a period of five years from issuance. Stock compensation expense related to the issuances of warrants to SIC III was $2,049 during the year ended June 30, 2015.

The Note is not convertible into equity securities of the Company as of June 30, 2016 (see Note 16, Subsequent Events).

The Note also contains certain covenants and restrictions, including, among others, that, for so long as the Note is outstanding, the Company will not, without the consent of the holder of the Note, (i) make any loan or advance in excess of $500 to any officer, director, employee of affiliate of the Company (except advances and similar expenditures : (a) under the terms of employee stock or option plans approved by the Board of Directors, (b) in the ordinary course of business, consistent with past practice or (c) to its subsidiaries), (ii) incur any indebtedness that exceeds $1,000 in the aggregate other than indebtedness outstanding under the Note, (iii) guaranty any indebtedness of any unaffiliated third party, (iv) change the principal business of the Company or exit the Company's current business, provided that the foregoing is subject to the Board's compliance with its fiduciary duties, (v) sell, assign, or license material technology or intellectual property of the Company except (a) in the ordinary course of business, consistent with past practice, (b) sales and assignments thereof in any 12 month period that do not have a fair market value in excess of $500 or (c) in connection with a change of control transaction, (vi) enter into any corporate strategic relationship involving the payment, contribution or assignment by the Company of its assets that have a fair market value in excess of $1,000 or (vii) liquidate or dissolve the Company or wind up the business of the Company, except in connection with changes of control or merger, acquisition or similar transactions or as approved by the Company’s Board in compliance with their fiduciary duties.

On August 22, 2016, the Company and SIC III, SIC IV, SIC VI entered into a Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of certain notes held by SIC III, SIC IV, and SIC VI other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Note dated as of June 11, 2015, was exchanged for 30,175 shares of the Company’s Series C Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement (see Note 16, Subsequent Events).

Interest expense on the Note was $2,440 and $1,391 for the years ended June 30, 2016 and 2015.

Unsecured Demand Loans

During the year ended June 30, 2015, Mr. Sillerman made the following demand loans (the "Loans") to the Company:

Date	Amount
December 19, 2014	$	2,000
January 14, 2015	2,000
January 30, 2015	2,000
February 13, 2015	750
February 26, 2015	1,000
March 2, 2015	1,000
March 16, 2015	3,000
April 20, 2015	1,000
May 5, 2015	500
May 14, 2015	325
Total	$	13,575

Each of the Loans bear interest at the rate of 12% per annum. Principal and interest due under the Loans shall be due and payable upon demand. The principal amount of the Loans may be prepaid at any time and from time to time, in whole or in part, without premium or penalty. The Company used the proceeds from the Loans to fund working capital requirements and for general corporate purposes.

As discussed in Note 11, Stockholders' (Deficit) Equity, on March 16, 2015, SIC III purchased 7,000 shares of Series C Convertible Preferred Stock pursuant to the Securities Purchase Agreement, for a purchase price of $7,000. The Company used the $7,000 proceeds from the sale of 7,000 shares of Series C Convertible Stock to repay $7,000 in principal amount of the Loans. In addition, the Company used $798 of the proceeds of the Loan on March 16, 2015 to pay all accrued and unpaid interest on the Loans. On June 1, 2015, the Company repaid an additional $5,000 in principal amount of the Loans. On July 1, 2015, the Company repaid the remaining $1,575 in principal amount of the Loans. Accordingly, after the transactions described herein, the total outstanding principal amount of the Loans at June 30, 2016 and 2015 is $0 and $1,575, respectively.

Interest expense on the Loans was $1 and $306 for the years ended June 30, 2016 and 2015, respectively.

Line of Credit Grid Note

On June 11, 2015, the Company and SIC IV entered into a Line of Credit Grid Note (the "Grid Note"). The Grid Note provides a right for the Company to request advances under the Grid Note from time to time in an aggregate amount of up to $10,000. The Grid Note bears interest at a rate of 12% per annum, payable in cash on the maturity of the Grid Note. From and after the occurrence and during the continuance of any event of default under the Grid Note, the interest rate is automatically increased to 14% per annum.

The Grid Note is not convertible into equity securities of the Company.

In order for the Company to make requests for advances under the Grid Note, the Company must have an interest coverage ratio equal to or greater than 1, unless SIC IV waives this requirement. The interest coverage ratio is calculated by dividing: (a) the Company’s net income for the measurement period, plus the Company’s interest expense for the measurement period, plus the Company’s tax expense for the measurement period, by (b) the Company’s interest expense for the measurement period, plus the amount of interest expense that would be payable on the amount of the requested draw for the twelve months following the request for the advance. The measurement period is the twelve months ended as of the last day of the last completed fiscal quarter prior to the request for the advance. The Company currently does not have an interest coverage ratio equal to or greater than 1, so advances would require the SIC IV to waive this requirement. In addition, in order to make requests for advances under the Grid Note, there can be no event of default under the Note at the time of the request for an advance, including that there has been no material adverse change in the business plan or prospects of the Company in the reasonable opinion of SIC IV.

The Company made requests for advances under the Grid Note, and SIC IV made advances to the Company as follows:

Date	Amount
6/11/2015	$	1,000
6/24/2015	2,000
7/31/2015	1,000
8/31/2015	2,000
9/15/2015	1,000
9/29/2015	1,000
10/13/2015	500
10/30/2015	600
11/25/2015	1,000
Total	$	10,100

On July 1, 2015, the Company repaid $1,425 of the Grid Note.

On December 3, 2015, the Company and SIC IV entered into a Subscription Agreement pursuant to which SIC IV subscribed for 437,500 shares of the Company’s common stock at a price of $9.40 per share. Accordingly, the aggregate purchase price for such shares was $4,112.

The Company and SIC IV agreed that SIC IV would pay the purchase price for such shares by reducing the amounts outstanding under the Line of Credit. As of December 3, 2015, there was $8,675 in outstanding principal amount under the Line of Credit.

Accordingly, the principal amount of the Line of Credit was therefore reduced to $4,563.

The Grid Note matures on the first to occur of: (a) 12/31/2016 or (b) upon a “Change of Control Transaction.” A “Change of Control Transaction” includes (i) a sale of all or substantially all of the assets of the Company or (ii) the issuance by the Company of common stock that results in any “person” or “group” becoming the “beneficial owner” of a majority of the aggregate ordinary voting power represented by the Company’s issued and outstanding common stock (other than as a result of, or in connection with, any merger, acquisition, consolidation or other business combination in which the Company is the surviving entity following the consummation thereof), excluding transactions with affiliates of the Company.

If an event of default occurs under the Grid Note, SIC IV has the right to require the Company to repay all or any portion of the Grid Note.  An event of default is deemed to have occurred on: (i) the non-payment of any of the amounts due under the Grid Note within five (5) Business Days after the date such payment is due and payable; (ii) dissolution or liquidation, as applicable, of the Company; (iii) various bankruptcy or insolvency events shall have occurred, (iv) the inaccuracy in any material respect of any warranty, representation, statement, report or certificate the Company makes to Lender under the Note hereto; (v) the Company contests, disputes or challenges in any manner, whether in a judicial proceeding or otherwise, the validity or enforceability of any material provision in the Grid Note; or (vi) a material adverse change in the business plan or prospects of the Company in the reasonable opinion of SIC IV.

Interest expense on the Grid Note for the years ended June 30, 2016 and 2015 was $574 and $10, respectively.

In connection with the Company's entering into the Perk Credit Agreement (as defined below), SIC IV agreed to subordinate payment of the Grid Note to amounts owed to Perk under the Perk Credit Agreement.  SIC IV also consented to the consummation of the Asset Purchase Agreement with Perk.  In exchange for such consent and such agreement to subordinate, the Company agreed to provide SIC IV a security interest in the assets of the Company in connection with amounts outstanding under the Grid Note.

The Company entered into a Security Agreement with SIC IV, pursuant to which the Company pledged its assets in connection with such security interest. 

On July 8, 2016, SIC III, SIC IV and SIC VI, entered into an exchange agreement (the “Exchange Agreement”) relating to the exchange of debt and shares of the Series C Preferred stock of the Company for common stock of the Company under certain conditions. Issuance of the shares is conditioned upon approval of the Company’s shareholders, the closing of an offering of the Company’s common stock in the amount of at least $10,000, approval of its Listing of Additional Shares application with NASDAQ, the Company shall not be subject to any bankruptcy proceeding, and various other conditions. The exchange price shall be equal to the lesser of $5.20 and the price at which the Debentures can be exchanged for shares of the Company’s common stock, so long as the Company received a valuation that the exchange price reflects fair value. The agreement provides for termination in the event the conditions are not satisfied by March 31, 2017.

On July 18, 2016, SIC III, SIC IV and SIC VI entered into an amended exchange agreement (the “Amended Exchange Agreement”) relating to the exchange of debt and shares of the Series C Preferred stock of the Company for common stock of the Company under certain conditions. The Amended Exchange Agreement modified the Grid Note to provide that SIC IV shall be entitled to repayment of up to $2,000 of the outstanding principal balance of the Grid Note and the Company shall be entitled to draw up to an additional $5,000 (see Note 16, Subsequent Events).

This debt has been converted to Preferred C Shares in accordance with the Note Exchange Agreement described above, except for the $900 of debt that remains outstanding under the SIC IV Note that will remain subject to the Exchange Agreement (see Note 16, Subsequent Events). 

Secured Revolving Loans and Lines of Credit

On January 27, 2016, Sillerman Investment Company VI LLC (“SIC VI”), an affiliate of Robert F.X. Sillerman, the Executive Chairman and Chief Executive Officer of the Company, entered into a Secured Revolving Loan agreement (the “Secured Revolving Loan I”) with the Company and its subsidiaries, wetpaint.com, Inc. and Choose Digital Inc. (collectively, the “Subsidiaries”), pursuant to which the Company can borrow up to $1,500.  The Secured Revolving Loan bears interest at the rate of 12% per annum. In connection with the Secured Revolving Loan, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc. The Company intends to use the proceeds from the Secured Revolving Loan to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  As of June 30, 2016, $1,500 has been advanced thereunder.  Interest expense on the Secured Revolving Loan I was $71 for the year ended June 30, 2016.

The Company and its subsidiaries wetpaint.com, inc., and Choose Digital, Inc. (the "Subsidiaries") entered into a secured, revolving Line of Credit on March 29, 2016 with SIC VI (the “Secured Revolving Line of Credit”), pursuant to which the Company can borrow up to $500.  The Secured Revolving Line of Credit bears interest at the rate of 12% per annum.
In connection with the Secured Revolving Line of Credit, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc.  The Company intends to use the proceeds from the Secured Revolving Line of Credit to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  At June 30, 2016, $500 had been advanced thereunder.  Interest expense on the Secured Revolving Line of Credit was $12 for the year ended June 30, 2016.

On April 29, 2016, SIC VI entered into an additional secured revolving loan agreement with the Company and the Subsidiaries ("Secured Revolving Loan"), pursuant to which the Company can borrow up to $500. Loans under this loan agreement bear interest at the rate of 12% per annum and mature on December 31, 2016, barring any events of default or a change of control of the Company. As of June 30, 2016, $500 had been advanced thereunder.  Interest expense on the Secured Revolving Loan was $9 for the year ended June 30, 2016.

On May 16, 2016, SIC VI entered into an additional secured revolving loan agreement with the Company and the Subsidiaries ("Secured Revolving Loan II"), pursuant to which the Company can borrow up to $500. Loans under this loan agreement bear interest at the rate of 12% per annum and mature on December 31, 2016, barring any events of default or a change of control of the Company. As of June 30, 2016, $500 had been advanced thereunder. Interest expense on the Secured Revolving Loan II was $6 for the year ended June 30, 2016.

On June 27, 2016, SIC VI entered into a secured revolving loan agreement (the “Secured Revolving Loan III”) with the Company and its subsidiaries, pursuant to which the Company can borrow up to $1,200. The Secured Revolving Loan III bears interest at the rate of 12% per annum and matures on December 31, 2016, barring any events of default or a change of control of the Company. At June 30, 2016, $135 had been advanced thereunder.

This debt has been converted to Preferred C Shares in accordance with the Note Exchange Agreement described above.

Related Approvals

Because each of the above loan payable transactions (other than the DB Line) referred to in the foregoing sections involved Mr. Sillerman, or an affiliate of his, the transactions were subject to certain rules regarding "affiliate" transactions. As such, each was approved by a Special Committee of the Board of Directors and a majority of the independent members of the Board of Directors of the Company.

Loan from Perk

During the year ended June 30, 2016, Perk made two advances to the Company as follows:

Date	Amount
12/14/2015	$	667
12/23/2015	333
Total	$	1,000

On December 13, 2015, the Company entered into a Credit Agreement with Perk pursuant to which Perk provided a $1,000 line of credit to the Company (the “Perk Credit Agreement”). The Perk Credit Agreement provided for drawdowns pursuant to which Perk made advances to the Company, which totaled $1,000. The first advance in the amount of $667 was made on December 14, 2015. The final drawdown of $333 was made when the Information Statement relating to the transaction was filed with the SEC, which occurred on December 23, 2015. Amounts outstanding under the Perk Credit Agreement bore interest at 12% per annum, with an additional 12% if the Company was in default of its obligations under the Perk Credit Agreement.  Amounts outstanding under the Perk Credit Agreement were repaid on February 8, 2016 upon the closing of the sale of the Viggle assets to Perk.  The Company was entitled to elect to repay all amounts outstanding pursuant to the Perk Credit Agreement by reducing the number of the shares of Perk common stock payable upon closing of the sale of the Viggle assets to Perk by 130,000 shares. The Company elected to so reduce the number of shares issuable to the Company at the closing of the asset sale transaction. Therefore, Perk agreed to deliver to the Company at closing 1,370,000 shares of Perk common stock, rather than 1,500,000 shares, and in return the amounts outstanding under the Perk Credit Agreement were deemed repaid in full.

Therefore, the outstanding balance of the loan from Perk was $0 at June 30, 2016. No interest expense was recorded by the Company for the year ended June 30, 2016.

In connection with the Perk Credit Agreement, the Company also entered into a Security Agreement, pursuant to which the Company provided Perk with a security interest in its assets to secure repayment of amounts outstanding under the Perk Credit Agreement. As the amounts payable under the Perk Credit Agreement have now been settled in full, the Security Agreement has been terminated.   

Promissory Notes

In accordance with the Assets Purchase Agreement to purchase the DraftDay Business (see Note 6, Acquisitions), the Company issued promissory notes to MGT Capital ("MGT Promissory Notes") in the principal amount of $234 due and paid on September 29, 2015 and in the aggregate principal amount of $1,875 due March 8, 2016.  All such notes bear interest at a rate of 5% per annum.  The Company was not able to make the $1,875 payment at the due date and on March 24, 2016 converted $824 of the promissory notes to common stock and $110 of the promissory notes to a Series D Preferred Stock (see Note 11, Stockholders' (Deficit) Equity). On April 13, 2016, MGT converted all110shares of the Company's Series D Preferred Stock into shares of common stock of the Company. Accordingly, the Company issued18,332shares of common stock to MGT. Thereafter, there arenoshares of the Company's Series D Preferred Stock outstanding.

On June 14, 2016, the Company entered into a second exchange agreement with MGT (the “Second MGT Exchange Agreement”) relating to the $940 remaining due under the MGT Note (see Note 6, Acquisitions). Under the Second MGT Exchange Agreement, the MGT Note shall be exchanged in full for (a) $11 in cash representing accrued interest and (b) 132,092 shares of Company common stock, subject to certain adjustments. Issuance of the shares is conditioned upon approval of the Company’s shareholders and approval of its Listing of Additional Shares application with NASDAQ. Therefore, the outstanding balance of the MGT Promissory Notes was $943 at June 30, 2016. The Company recorded interest expense of $65 for the year ended June 30, 2016. On October 10, 2016, the Company satisfied the MGT Note through the issuance of 136,304 shares of its common stock and payment of interest of $16.

In exchange for releasing certain liens and encumbrances with respect to the DraftDay Business (see Note 6, Acquisitions), the Company issued promissory notes to Kuusamo Capital Ltd. in the principal amount of $16 due and paid on September 29, 2015 and in the aggregate principal amount of $125 due March 8, 2016.  All such notes bear interest at a rate of 5% per annum. The Company was not able to make the $125 payment at the due date.  On April 25, 2016, the Company entered into an exchange agreement with Kuusamo Capital Ltd. (“Kuusamo"), pursuant to which the Company issued 10,394 shares of its common stock to Kuusamo in exchange for a reduction of $71 in principal amount of a promissory note the Company owed to Kuusamo.  

Thereafter, the outstanding balance of the Kuusamo Promissory Notes was $55 at June 30, 2016. The Company recorded interest expense of $5 for the year ended June 30, 2016.

Accounts Payable Settlements

North America Photon Infotech Ltd. (“Photon”), a company based in Mauritius that had provided development services to the Company, filed suit in California on March 28, 2016 to collect approximately $218 owed by the Company to Photon. The Company settled this matter on May 12, 2016 in part by issuing a Note in the amount of $110, payable in six months.

On April 7, 2016, the Company issued a note in the amount of $56 to Simulmedia, Inc., a former vendor of the Company, as partial settlement of the outstanding balance due to Simulmedia, Inc. for services provided.

Pandera Systems, LLC (“Pandera”), which formerly provided analytics development services to the Company, filed suit on March 11, 2016 against the Company to demand collection of amounts due for such services. The Company settled this matter on April 12, 2016, in part by issuing a note in the amount of $50.

On April 25, 2016, Carpathia Hosting, LLC (“Carpathia”), which formerly provided hosting services to the Company, filed suit

in the Eastern District of Virginia to demand collection of $658 due. The Company settled this matter on June 29, 2016. The

Company recorded a gain of $505 for the year ended June 30, 2016.

On June 24, 2016, the Company entered into a settlement agreement with Pandora. As a result, the Company recorded a gain of $222 in the Consolidated Statements of Operations for the year ended June 30, 2016.

Interest expense on these notes issued in connection with settlements with vendors was $2 for the year ended June 30, 2016.

Convertible Promissory Note

On June 27, 2016, the Company entered into a Convertible Promissory Note with Reaz Islam ("Islam"), an advisor to Sillerman, pursuant to which Islam loaned the Company $300 (the “RI Convertible Note”). The RI Convertible Note bears interest at a rate of 12% and matures on December 31, 2016. Islam has the right to convert the RI Convertible Note into shares of common stock of the Company at the same time and on the same terms as Sillerman can convert debt held by Sillerman into shares of the Company’s common stock. The RI Convertible Note is subordinate to any note held by Sillerman. As of June 30, 2016, there was $300 outstanding under the RI Convertible Note. Interest expense on the RI Convertible Note was $2 for the year ended June 30, 2016. The fair value of the conversion feature of the RI Convertible Note is nominal but will be marked to market at its fair value in future periods until the debt is repaid or converted to shares of the Company's common stock.

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Commitments and Contingencies

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Litigation

CFGI, LLC, a former provider of consulting services of the Company, served the Company with a lawsuit to collect approximately $200 owed by the Company to CFGI, LLC on September 9, 2016. The Company settled this matter for $150 and the case was dismissed.

Creditors Adjustment Bureau, Inc., a collection agency in California, has filed suit in Santa Clara County Superior Court (California) to collect an $84 debt assigned to it by Gigya Inc. The Company settled this matter for $55.

A Complaint (Index #654984/2016) was filed by Andy Mule, on behalf of himself and others similarly situated, in the Supreme Court of the State of New York. The Complaint, which names the Company, each of its current directors, and President, as a former director, as defendants, claims a breach of fiduciary duty relating to the terms of a proposed conversion of debt and preferred shares into common equity by Mr. Sillerman and/or his affiliates. The Complaint seeks unspecified damages and such relief as the Court may deem appropriate. The Company accepted service on October 4, 2016, and filed a motion to dismiss on November 14, 2016. The Company believes that this claim is without merit.

A Complaint (Case #8:16-cv-02101-DOC-JCG) was filed in the United States District Court, Central District of California, Southern Division by Stephan Wurth Photography, Inc. The Complaint, which names Wetpaint.com, Inc. and two former employees of Rant, Inc., claims copyright infringement relating to photographs of Anna Kournikova that first appeared on a Rant website some time ago and continued to appear after our purchase of Rant on July 8, 2016. We have not yet been served in this matter. If and when we are served, we intend to vigorously defend the matter.

The Company is subject to litigation and other claims that arise in the ordinary course of business. While the ultimate result of our outstanding legal matters cannot presently be determined, the Company does not expect that the ultimate disposition will have a material adverse effect on its results of operations or financial condition. However, legal matters are inherently unpredictable and subject to significant uncertainties, some of which are beyond our control. As such, there can be no assurance that the final outcome will not have a material adverse effect on the Company's financial condition and results of operations.

Commitments and Contingencies

Operating Leases

The Company maintains operating leases for its corporate office and several satellite offices. There are no capital leases. Rent expense for operating leases, which may include free rent or fixed escalation amounts in addition to minimum lease payments, is recognized on a straight-line basis over the duration of each lease term. Total rent expense for continuing operations, net of sublease income, for the Company under operating leases recorded for the years ended June 30, 2016 and 2015 was $361 and $610, respectively. The Company’s future minimum rental commitments under noncancelable operating leases are as follows (amounts are shown net of contractual sublease income):

Years Ending June 30,	Amount
2017	$	466
2018	490
2019	688
2020	729
2021	749
Thereafter	640
Total	$	3,762

Litigation

The Company delivered 357,032 of the Initial Perk Shares to Gracenote, Inc. and Tribune Media Services, Inc., former providers of technology services of the Company, as per the Settlement and Transfer Agreement dated February 5, 2016, to satisfy an obligation. The Company recognized a gain of $593 in the consolidated statements of operations for the year ended June 30, 2016.

CFGI, LLC, a former provider of consulting services of the Company, served the Company with a lawsuit to collect approximately $200 owed by the Company to CFGI, LLC on September 9, 2016. There is a dispute regarding the services rendered by CFGI, LLC and the Company is attempting to settle the matter. There was no impact on the consolidated financial statements for the year ended June 30, 2016.

A Complaint (Index #654984/2016) was filed by Andy Mule, on behalf of himself and others similarly situated, in the Supreme Court of the State of New York. The Complaint, which names the Company, each of its current directors, and President, as a former director, as defendants, claims a breach of fiduciary duty relating to the terms of a proposed conversion of debt and preferred shares into common equity by Mr. Sillerman and/or his affiliates. The Complaint seeks unspecified damages and such relief as the Court may deem appropriate. The Company accepted service on October 4, 2016, and has agreed to respond by November 14, 2016. The Company believes that this claim is without merit.

The Company is subject to litigation and other claims that arise in the ordinary course of business. While the ultimate result of the Company's outstanding legal matters cannot presently be determined, the Company does not expect that the ultimate disposition will have a material adverse effect on its results of operations or financial condition. However, legal matters are inherently unpredictable and subject to significant uncertainties, some of which are beyond the Company's control. As such, there can be no assurance that the final outcome will not have a material adverse effect on the Company's consolidated financial condition and results of operations.

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Stockholders' (Deficit) Equity

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Equity [Abstract]

Stockholders' (Deficit) Equity

Stockholders’ Equity

Reverse Stock Split

On September 16, 2016, the Company amended its Certificate of Incorporation to effect a reverse stock split of all issued and outstanding shares of common stock at a ratio of 1 for 20 (the "Reverse Stock Split"). Owners of fractional shares outstanding after the Reverse Stock Split were paid cash for such fractional interests. The effective date of the Reverse Stock Split is September 16, 2016. All common stock share amounts disclosed in these financial statements have been adjusted to reflect the Reverse Stock Split.

Common Stock

As of September 30, 2016 there were 300,000,000 shares of authorized common stock and 3,056,353 shares of common stock issued and outstanding, respectively. As of June 30, 2016 there were 300,000,000 shares of authorized common stock and 3,023,753 shares of common stock issued and outstanding, respectively. Except as otherwise provided by Delaware law, the holders of the Company's common stock are entitled to one vote per share on all matters to be voted upon by the stockholders.

Preferred Stock

The Company has authorized four series of preferred stock, including classes of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. At this time, there is no Series A, Series B or Series D Preferred Stock outstanding. Only Series C and Series E Preferred Stock are outstanding, as described below.

Series A Convertible Redeemable Preferred Stock

Prior to September 16, 2013, the Company had authorized a class of Series A Preferred Shares, but none of those shares were issued or outstanding. On September 16, 2013, the Company eliminated the prior class of series A preferred shares and created a new class of Series A Convertible Redeemable Preferred Stock (the “Series A Convertible Redeemable Preferred Stock”). The Company authorized the issuance of up to 100,000 shares of the Series A Convertible Redeemable Preferred Stock. The designation, powers, preferences and rights of the shares of Series A Convertible Redeemable Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series A Convertible Redeemable Preferred Stock have an initial stated value of 1,000 per share (the "Stated Value").

• The shares of Series A Convertible Redeemable Preferred Stock are entitled to receive quarterly cumulative dividends at a rate equal to 7% per annum of the Stated Value whenever funds are legally available and when and as declared by the Company's board of directors. If the Company declares a dividend or the distribution of its assets, the holders of Series A Convertible Redeemable Preferred Stock shall be entitled to participate in the distribution to the same extent as if they had converted each share of Series A Convertible Redeemable Preferred Stock held into Company common stock.

• Each share of Series A Convertible Redeemable Preferred Stock is convertible, at the option of the holders, into shares of Company common stock at a conversion price of $23.00.

• The Company may redeem any or all of the outstanding Series A Convertible Redeemable Preferred Stock at any time at the then current Stated Value, subject to a redemption premium of (i) 8% if redeemed prior to the one year anniversary of the initial issuance date; (ii) 6% if redeemed on or after the one year anniversary of the initial issuance date and prior to the two year anniversary of the initial issuance date; (iii) 4% if redeemed on or after the two year anniversary of the initial issuance date and prior to the three year anniversary of the initial issuance date; (iv) 2% if redeemed on or after the three year anniversary of the initial issuance date and prior to the 42 months anniversary of the initial issuance date; and (v) 0% if redeemed on or after the 42 months anniversary of the initial issuance date. However, no premium shall be due on the use of up to 33% of proceeds of a public offering of common shares at a price of $1.00 or more per share.

• The Company is required to redeem the Series A Convertible Redeemable Preferred Stock on the fifth anniversary of its issuance.

• Upon a change of control of the Company, the holders of Series A Convertible Redeemable Preferred Stock shall be entitled to a change of control premium of (i) 8% if redeemed prior to the one year anniversary of the initial issuance date; (ii) 6% if redeemed on or after the one year anniversary of the initial issuance date and prior to the two year anniversary of the initial issuance date; (iii) 4% if redeemed on or after the two year anniversary of the initial issuance date and prior to the three year anniversary of the initial issuance date; (iv) 2% if redeemed on or after the three year anniversary of the initial issuance date and prior to the 42 months anniversary of the initial issuance date; and (v) 0% if redeemed on or after the 42 months anniversary of the initial issuance date.

• The shares of Series A Convertible Redeemable Preferred Stock are senior in liquidation preference to the shares of Company common stock.

• The shares of Series A Convertible Redeemable Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of 51% of the outstanding shares of Series A Convertible Redeemable Preferred Stock shall be necessary for the Company to: (i) create or issue any Company capital stock (or any securities convertible into any Company capital stock) having rights, preferences or privileges senior to or on parity with the Series A Convertible Redeemable Preferred Stock; or (ii) amend the Series A Convertible Redeemable Preferred Stock.

At September 30, 2016 and June 30, 2016 there were no shares of Series A Convertible Redeemable Preferred Stock outstanding.

Series B Convertible Preferred Stock

On September 16, 2013, the Company created 50,000 shares of Series B Convertible Preferred Stock (the “Series B Convertible Preferred Stock”). The designation, powers, preferences and rights of the shares of Series B Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series B Convertible Preferred Stock have an initial stated value of $1,000 per share.

• The shares of Series B Convertible Preferred Stock are convertible, at the option of the holders, into shares of Company common stock at a conversion price of $23.00. The shares of Series B Convertible Preferred Stock may only be converted from and after the earlier of either of: (x) the first trading day immediately following (i) the closing sale price of the Company's common stock being equal to or greater than $33.40 per share (as adjusted for stock dividends, stock splits, stock combinations and other similar transactions occurring with respect to the Company's common stock from and after the initial issuance date) for a period of five consecutive trading days following the initial issuance date and (ii) the average daily trading volume of the Company's common stock (as reported on Bloomberg) on the principal securities exchange or trading market where the Company's common stock is listed or traded during the measuring period equaling or exceeding 1,250 shares of Company's common stock per trading day (the conditions set forth in the immediately preceding clauses (i) and (ii) are referred to herein as the “Trading Price Conditions”) or (y) immediately prior to the consummation of a “fundamental transaction”, regardless of whether the Trading Price Conditions have been satisfied prior to such time. A “fundamental transaction” is defined as (i) a sale of all or substantially all of the assets of the Company, (ii) a sale of at least 90% of the shares of capital stock of the Company or (iii) a merger, consolidation or other business combination as a result of which the holders of capital stock of the Company prior to such merger, consolidation or other business combination (as the case may be) hold in the aggregate less than 50% of the Voting Stock of the surviving entity immediately following the consummation of such merger, consolidation or other business combination (as the case may be), in each case of clauses (i), (ii) and (iii), the Board has determined that the aggregate implied value of the Company's capital stock in such transaction is equal to or greater than $125,000.

• The shares of Series B Convertible Preferred Stock are not redeemable by either the Company or the holders thereof.

• The shares of Series B Convertible Preferred Stock are on parity in dividends and liquidation preference with the shares of Company common stock, which shall be payable only if then convertible into common stock.

• The shares of Series B Convertible Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of 51% of the outstanding shares of Series B Convertible Preferred Stock shall be necessary for the Company to alter, amend or change any of the terms of the Series B Convertible Preferred Stock.

At September 30, 2016 and June 30, 2016, there were no shares of Series B Convertible Preferred Stock outstanding.

Series C Convertible Preferred Stock

On October 24, 2014, the Company created a new class of Series C Convertible Redeemable Preferred Stock (the “Series C Convertible Redeemable Preferred Stock”). The Company authorized the issuance of up to 100,000 shares of the Series C Convertible Redeemable Preferred Stock. The rights, preferences, privileges and restrictions of the shares of Series C Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series C Convertible Redeemable Preferred Stock have a stated value of $1,000 per share.

• Each holder of a share of Series C Convertible Redeemable Preferred Stock shall be entitled to receive dividends (“Dividends”) on such share equal to twelve percent (12%) per annum (the “Dividend Rate”) of the Stated Value before any Dividends shall be declared, set apart for or paid upon any junior stock or parity stock. Dividends on a share of Series C Convertible Redeemable Preferred Stock shall accrue daily at the Dividend Rate, commence accruing on the issuance date thereof, compound annually, be computed on the basis of a 360-day year consisting of twelve30-day months and be convertible into common stock in connection with the conversion of such share of Series C Convertible Redeemable Preferred Stock.

• Each share of Series C Convertible Redeemable Preferred Stock is convertible, at the option of the holders, on the basis of its stated value and accrued, but unpaid dividends, into shares of Company common stock at a conversion price of $80.00 per common share.

• The Company may redeem any or all of the outstanding Series C Convertible Redeemable Preferred Stock at any time at the then current Stated Value plus accrued Dividends thereon plus a redemption premium equal to the Stated Value multiplied by 6%. However, no premium shall be due on the use of up to 33% of proceeds of a public offering of common shares at a price of $100.00 or more per share.

• The Company is required to redeem each Series C Convertible Redeemable Preferred Stock on the tenth business day immediately following the fifth anniversary of its issuance. However, the Company shall have no obligation to mandatorily redeem any shares of Series C Convertible Redeemable Preferred Stock at any time that (x) the Company does not have surplus under Section 154 of the Delaware General Corporation Law (the “DGCL”) or funds legally available to redeem all shares of Series C Convertible Redeemable Preferred Stock, (y) the Company's capital is impaired under Section 160 of the DGCL or (z) the redemption of any shares of Series C Convertible Redeemable Preferred Stock would result in an impairment of the Company's capital under Section 160 of the DGCL; provided, that if the Company is prohibited from redeeming the shares due to those limitations, the Company will redeem the Shares as soon as possible after such restrictions are no longer applicable.

• Upon a change of control of the Company, each holder of Series C Convertible Redeemable Preferred Stock shall be entitled to require the Company to redeem from such holder all of such holder's shares of Series C Convertible Redeemable Preferred Stock so long as such holder requests such redemption in writing at least one business day prior to the consummation of such change of control. The redemption amount per share equals the Stated Value thereof plus accrued Dividends plus a change of control premium equal to the stated value multiplied 6%.

• The shares of Series C Convertible Redeemable Preferred Stock are senior in liquidation preference to all shares of capital stock of the Company unless otherwise consented to by a majority of the holders of shares of Series C Convertible Redeemable Preferred Stock.

• The shares of Series C Convertible Redeemable Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series C Convertible Redeemable Preferred Stock is necessary for the Company to amend the Series C certificate of designation.

The Series C Convertible Redeemable Preferred Stock was not classified as a component of stockholders' equity in the accompanying Consolidated Balance Sheets. Likewise, the undeclared dividends related to Series C Convertible Redeemable Preferred Stock have been recorded as an addition within the Series C Convertible Preferred Stock account in the amount of $484 and $307 for the three months ended September 30, 2016 and September 30, 2015.

On August 22, 2016, the Company amended the terms of the Series C Convertible Redeemable Preferred Stock. The amendment provided that the Series C Preferred Stock is no longer convertible into common stock by its terms (though the Series C Preferred Stock held by Mr. Sillerman remains subject to the Exchange Agreement in Note 9, Loans Payable) and is no longer redeemable by holder five years after issuance. As amended, the rights, preferences, privileges and restrictions of the shares of Series C Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series C Convertible Redeemable Preferred Stock have a stated value of $1,000 per share.

• Each holder of a share of Series C Convertible Redeemable Preferred Stock shall be entitled to receive dividends (“Dividends”) on such share equal to twelve percent (12%) per annum (the “Dividend Rate”) of the Stated Value before any Dividends shall be declared, set apart for or paid upon any junior stock or parity stock. Dividends on a share of Series C Preferred Stock shall accrue daily at the Dividend Rate, commence accruing on the issuance date thereof, compound annually, be computed on the basis of a 360-day year consisting of twelve30-day months and be convertible into common stock in connection with the conversion of such share of Series C Preferred Stock.

• The Company may redeem any or all of the outstanding Series C Preferred Stock at any time at the then current Stated Value plus accrued Dividends thereon plus a redemption premium equal to the Stated Value multiplied by 6%. However, no premium shall be due on the use of up to 33% of proceeds of a public offering of common stock at a price of$5.00 or more per share.

• The shares of Series C Preferred Stock are senior in liquidation preference to all shares of capital stock of the Company unless otherwise consented to by a majority of the holders of shares of Series C Preferred Stock.

• The shares of Series C Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series C Preferred Stock is necessary for the Company to amend the Series C certificate of designation.

The Series C Preferred Stock is no longer convertible into common stock, except in accordance with the Exchange Agreement.

Preferred Stock Conversion

Sillerman Investment Company III, LLC (“SIC III”), an affiliate of Robert F.X. Sillerman, the Company's Executive Chairman and Chief Executive Officer of the Company, owned 10,000 shares of Series C Convertible Redeemable Preferred Stock. On May 9, 2016 (the “Exchange Date”), the Company and SIC III entered into a Subscription Agreement pursuant to which SIC III subscribed for 1,129,032 shares of the Company’s common stock at a price of $6.20 per share. Accordingly, the aggregate purchase price for such shares was $7,000. The Company and SIC III agreed that SIC III would pay the purchase price for such shares by exchanging $7,000 shares of the Company’s Series C Convertible Redeemable Preferred Stock owned by SIC III for the common stock (the “Exchange”). All conditions of the Subscription Agreement have been satisfied, and therefore 1,129,032 shares of the Company’s common stock were issued to SIC III. Mr. Sillerman and his affiliates now own more than 50% of the outstanding shares of the Company’s common stock. The Company determined that this was a fair transaction and did not recognize any stock compensation expense in relation with the conversion.

On August 22, 2016, the Company and SIC III, SIC IV, SIC VI entered into an Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of certain notes held by SIC III, SIC IV, and SIC VI other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Note dated as of June 11, 2015, was exchanged for 30,175 shares of the Company’s Series C Convertible Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement.

At September 30, 2016 and June 30, 2016, there were 33,175 and 3,000 shares of Series C Convertible Preferred Stock outstanding, respectively.

Series D Convertible Preferred Stock

On March 24, 2016, the Company created a new class of Series D Convertible Redeemable Preferred Stock (the “Series D Convertible Preferred Stock”). The Company authorized the issuance of up to 110 shares of the Series D Convertible Preferred Stock. The rights, preferences, privileges and restrictions of the shares of Series D Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series D Convertible Preferred Stock have a stated value of $1,000 per share.

• Each share of Series D Convertible Preferred Stock is convertible, at the option of the holders, at a rate of 167 shares of common stock for one share of converted Series D Convertible Preferred Stock.

• Shares of Series D Convertible Preferred Stock are not entitled to a liquidation preference.

• Conversions of the Series D Convertible Preferred Stock shall be limited such that any given conversion shall not cause the holder's aggregate beneficial ownership of the shares of common stock to exceed 9.99% of the Company’s outstanding common stock.

• The shares of Series D Convertible Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series D Convertible Preferred Stock is necessary for the Company to amend the Series D certificate of designation.

The Series D Convertible Preferred Stock is classified as a component of stockholders' equity in the accompanying consolidated balance sheets. There were no shares of Series D Convertible Preferred Stock outstanding at September 30, 2016 and June 30, 2016.

Series E Convertible Preferred Stock

On July 7, 2016, the Company created a new class of Series E Convertible Preferred Stock (the "Series E Convertible Preferred Stock") by filing a Certificate of Designation of the Series E Convertible Preferred Stock of the Company (the "Series E Certificate of Designation") with the Secretary of State of the State of Delaware. The Company authorized the issuance of up to 10,000 shares of the Series E Convertible Preferred Stock. The rights, preferences, privileges and restrictions of the shares of Series E Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are contained in the Series E Certificate of Designation and are summarized as follows:

• The shares of Series E Convertible Preferred Stock have a stated value of $1,000 per share (the "Stated Value").

• Subject to the satisfaction of certain conditions as set forth therein, each share of Series E Convertible Preferred Stock is convertible, at the option of the holders, on the basis of its Stated Value and accrued, but unpaid Dividends, into shares of the Company's common stock at a conversion price equal to the lesser of $5.20 or the Exchange Price.

• The shares of Series E Convertible Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series E Convertible Preferred Stock is necessary for the Company to amend its Series C Certificate of Designation.

As of September 30, 2016, there were 4,435 shares of Series E Convertible Preferred Stock outstanding. There were no shares of Series E Convertible Preferred Stock outstanding as of June 30, 2016.

Subscription Agreement

On December 3, 2015, the Company and SIC IV entered into a Subscription Agreement pursuant to which SIC IV subscribed for 437,500 shares of the Company’s common stock at a price of $9.40 per share. Accordingly, the aggregate purchase price for such shares was $4,112.

Non-controlling Interest

As discussed in Note 6, Acquisitions, on September 8, 2015, the Company acquired the assets of the DraftDay Business and its operations have been consolidated with the Company's operations as of that date. The Company has recorded non-controlling interest in its Consolidated Balance Sheets and Consolidated Statements of Operations for the portion of the DraftDay Business that the Company does not own. In the three months ended September 30, 2016, Sportech invested an additional $121 into the DraftDay Business in exchange for shares of Series A Preferred Stock of DDGG for $1 per share. In connection with termination of the Sportech MSA at June 30, 2016 (see Note 6, Acquisitions), Sportech returned 4,200 shares of DDGG stock. The Company reduced non-controlling interest by $378, which represents the fair value of these shares.

Stockholders’ (Deficit) Equity

Series A Convertible Redeemable Preferred Stock

Prior to September 16, 2013, the Company had authorized a class of series A preferred shares, but none of those shares were issued or outstanding. On September 16, 2013, the Company eliminated the prior class of series A preferred shares and created a new class of Series A Convertible Redeemable Preferred Stock (the “Series A Convertible Redeemable Preferred Stock”). The Company authorized the issuance of up to 100,000 shares of the Series A Convertible Redeemable Preferred Stock. The designation, powers, preferences and rights of the shares of Series A Convertible Redeemable Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series A Convertible Redeemable Preferred Stock had an initial stated value of $1,000 per share (the "Stated Value").

• The shares of Series A Convertible Redeemable Preferred Stock were entitled to receive quarterly cumulative dividends at a rate equal to 7% per annum of the Stated Value whenever funds are legally available and when and as declared by the Company's board of directors. If the Company declared a dividend or the distribution of its assets, the holders of Series A Convertible Redeemable Preferred Stock were entitled to participate in the distribution to the same extent as if they had converted each share of Series A Convertible Redeemable Preferred Stock held into Company common stock.

• Each share of Series A Convertible Redeemable Preferred Stock was convertible, at the option of the holders, into shares of Company common stock at a conversion price of $23.00.

• The Company could redeem any or all of the outstanding Series A Convertible Redeemable Preferred Stock at any time at the then current Stated Value, subject to a redemption premium of (i) 8% if redeemed prior to the one year anniversary of the initial issuance date; (ii) 6% if redeemed on or after the one year anniversary of the initial issuance date and prior to the two year anniversary of the initial issuance date; (iii) 4% if redeemed on or after the two year anniversary of the initial issuance date and prior to the three year anniversary of the initial issuance date; (iv) 2% if redeemed on or after the three year anniversary of the initial issuance date and prior to the 42 months anniversary of the initial issuance date; and (v) 0% if redeemed on or after the 42 months anniversary of the initial issuance date. However, no premium was due on the use of up to 33% of proceeds of a public offering of common stock at a price of $80.00 or more per share.

• The Company was required to redeem the Series A Convertible Redeemable Preferred Stock on the fifth anniversary of its issuance.

• Upon a change of control of the Company, the holders of Series A Convertible Redeemable Preferred Stock were entitled to a change of control premium of (i) 8% if redeemed prior to the one year anniversary of the initial issuance date; (ii) 6% if redeemed on or after the one year anniversary of the initial issuance date and prior to the two year anniversary of the initial issuance date; (iii) 4% if redeemed on or after the two year anniversary of the initial issuance date and prior to the three year anniversary of the initial issuance date; (iv) 2% if redeemed on or after the three year anniversary of the initial issuance date and prior to the 42 months anniversary of the initial issuance date; and (v) 0% if redeemed on or after the 42 months anniversary of the initial issuance date.

• The shares of Series A Convertible Redeemable Preferred Stock were senior in liquidation preference to the shares of Company common stock.

• The shares of Series A Convertible Redeemable Preferred Stock had no voting rights except as required by law.

• The consent of the holders of 51% of the outstanding shares of Series A Convertible Redeemable Preferred Stock was necessary for the Company to: (i) create or issue any Company capital stock (or any securities convertible into any Company capital stock) having rights, preferences or privileges senior to or on parity with the Series A Convertible Redeemable Preferred Stock; or (ii) amend the Series A Convertible Redeemable Preferred Stock.

At June 30, 2016 and 2015, there were no shares of Series A Convertible Redeemable Preferred Stock outstanding.

Series B Convertible Preferred Stock

On September 16, 2013, the Company created 50,000 shares of Series B Convertible Preferred Stock (the “Series B Convertible Preferred Stock”). The designation, powers, preferences and rights of the shares of Series B Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series B Convertible Preferred Stock had an initial stated value of $1,000 per share.

• The shares of Series B Convertible Preferred Stock were convertible, at the option of the holders, into shares of Company common stock at a conversion price of $23.00. The shares of Series B Convertible Preferred Stock could only be converted from and after the earlier of either of: (x) the first trading day immediately following (i) the closing sale price of the Company's common stock being equal to or greater than $33.40 per share (as adjusted for stock dividends, stock splits, stock combinations and other similar transactions occurring with respect to the Company's common stock from and after the initial issuance date) for a period of five consecutive trading days following the initial issuance date and (ii) the average daily trading volume of the Company's common stock (as reported on Bloomberg) on the principal securities exchange or trading market where the Company's common stock is listed or traded during the measuring period equaling or exceeding 1,250 shares of Company's common stock per trading day (the conditions set forth in the immediately preceding clauses (i) and (ii) are referred to herein as the “Trading Price Conditions”) or (y) immediately prior to the consummation of a “fundamental transaction”, regardless of whether the Trading Price Conditions have been satisfied prior to such time. A “fundamental transaction” is defined as (i) a sale of all or substantially all of the assets of the Company, (ii) a sale of at least 90%of the shares of capital stock of the Company or (iii) a merger, consolidation or other business combination as a result of which the holders of capital stock of the Company prior to such merger, consolidation or other business combination (as the case may be) hold in the aggregate less than 50% of the Voting Stock of the surviving entity immediately following the consummation of such merger, consolidation or other business combination (as the case may be), in each case of clauses (i), (ii) and (iii), the Board determined that the aggregate implied value of the Company's capital stock in such transaction was equal to or greater than $125,000.

• The shares of Series B Convertible Preferred Stock were not redeemable by either the Company or the holders thereof.

• The shares of Series B Convertible Preferred Stock were on parity in dividends and liquidation preference with the shares of Company common stock, which were payable only if then convertible into common stock.

• The shares of Series B Convertible Preferred Stock had no voting rights except as required by law.

• The consent of the holders of 51% of the outstanding shares of Series B Convertible Preferred Stock was necessary for the Company to alter, amend or change any of the terms of the Series B Convertible Preferred Stock.

At June 30, 2016 and 2015, there were no shares of Series B Convertible Preferred Stock outstanding.

Series C Convertible Redeemable Preferred Stock

On October 24, 2014, the Company created a new class of Series C Convertible Redeemable Preferred Stock (the “Series C Convertible Redeemable Preferred Stock”). The Company authorized the issuance of up to 100,000 shares of the Series C Convertible Redeemable Preferred Stock. The rights, preferences, privileges and restrictions of the shares of Series C Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series C Convertible Redeemable Preferred Stock have a stated value of $1,000 per share.

• Each holder of a share of Series C Convertible Redeemable Preferred Stock shall be entitled to receive dividends (“Dividends”) on such share equal to twelve percent (12%) per annum (the “Dividend Rate”) of the Stated Value before any Dividends shall be declared, set apart for or paid upon any junior stock or parity stock. Dividends on a share of Series C Convertible Redeemable Preferred Stock shall accrue daily at the Dividend Rate, commence accruing on the issuance date thereof, compound annually, be computed on the basis of a 360-day year consisting of twelve 30-day months and be convertible into common stock in connection with the conversion of such share of Series C Convertible Redeemable Preferred Stock.

• Each share of Series C Convertible Redeemable Preferred Stock is convertible, at the option of the holders, on the basis of its stated value and accrued, but unpaid dividends, into shares of Company common stock at a conversion price of $80.00 per common stock share.

• The Company may redeem any or all of the outstanding Series C Convertible Redeemable Preferred Stock at any time at the then current Stated Value plus accrued Dividends thereon plus a redemption premium equal to the Stated Value multiplied by 6%. However, no premium shall be due on the use of up to 33% of proceeds of a public offering of common stock at a price of $100.00 or more per share.

• The Company is required to redeem each Series C Convertible Redeemable Preferred Stock on the tenth business day immediately following the fifth anniversary of its issuance. However, the Company shall have no obligation to mandatorily redeem any shares of Series C Convertible Redeemable Preferred Stock at any time that (x) the Company does not have surplus under Section 154 of the Delaware General Corporation Law (the “DGCL”) or funds legally available to redeem all shares of Series C Convertible Redeemable Preferred Stock, (y) the Company's capital is impaired under Section 160 of the DGCL or (z) the redemption of any shares of Series C Convertible Redeemable Preferred Stock would result in an impairment of the Company's capital under Section 160 of the DGCL; provided, that if the Company is prohibited from redeeming the shares due to those limitations, the Company will redeem the Shares as soon as possible after such restrictions are no longer applicable.

• Upon a change of control of the Company, each holder of Series C Convertible Redeemable Preferred Stock shall be entitled to require the Company to redeem from such holder all of such holder's shares of Series C Convertible Redeemable Preferred Stock so long as such holder requests such redemption in writing at least one business day prior to the consummation of such change of control. The redemption amount per share equals the Stated Value thereof plus accrued Dividends plus a change of control premium equal to the stated value multiplied 6%.

• The shares of Series C Convertible Redeemable Preferred Stock are senior in liquidation preference to all shares of capital stock of the Company unless otherwise consented to by a majority of the holders of shares of Series C Convertible Redeemable Preferred Stock.

• The shares of Series C Convertible Redeemable Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series C Convertible Redeemable Preferred Stock is necessary for the Company to amend the Series C certificate of designation.

The Series C Convertible Redeemable Preferred Stock is not classified as a component of stockholders' (deficit) equity in the accompanying consolidated balance sheets. Likewise, the undeclared dividends related to Series C Convertible Redeemable Preferred Stock have been recorded as an addition within the Series C Convertible Preferred Stock account in the amount of $1,156 for the year ended June 30, 2016, and $468 for the year ended June 30, 2015.

On August 22, 2016, the Company amended the terms of the Series C Preferred Stock. The amendment provided that the Series C Preferred Stock is no longer convertible into common stock by its terms (though the Series C Preferred Stock held by Mr. Sillerman remains subject to the Exchange Agreement described in this section) and is no longer redeemable by holder five years after issuance. See Note 16, Subsequent Events.

Securities Purchase Agreement

Pursuant to the Securities Purchase Agreement discussed in Note 7, Loans Payable, SIC III acquired a total of 10,000 Shares of Series C Convertible Redeemable Preferred Stock for $10,000 as described below. The Company also agreed to issue to SIC III warrants to purchase a total of 25,000 shares of the Company’s common stock. The Company issued warrants to purchase 2,500 shares of the Company’s common stock for every $1,000 of purchase price paid for the shares. The exercise price of the warrants was 10% above the closing price of the Company’s shares on the date prior to the issuance of the warrants. Exercise of the warrants was subject to approval of the Company’s stockholders, which occurred on January 13, 2015.

On November 25, 2014, SIC III purchased 3,000 shares of Series C Convertible Redeemable Preferred Stock for $3,000. The shares of Series C Convertible Redeemable Preferred Stock were recorded in the accompanying consolidated balance sheet at its fair value as of the date of the purchase of November 25, 2014. In addition, in accordance with the Securities Purchase Agreement, the Company also issued SIC III warrants to purchase 7,500 shares of the Company's common stock at an exercise price of $59.60, which was 10% above the closing price of the Company's shares on the date prior to issuance.

On March 16, 2015, SIC III purchased 7,000 additional shares of Series C Convertible Redeemable Preferred Stock for $7,000. The shares of Series C Convertible Redeemable Preferred Stock were recorded in the accompanying consolidated balance sheet at its fair value as of the date of the purchase of March 16, 2015. In addition, in accordance with the Securities Purchase Agreement, the Company also issued SIC III warrants to purchase 17,500 shares of the Company’s common stock at an exercise price of $35.60, which was 10% above the closing price of the Company's shares on the date prior to issuance.

In connection with the Securities Purchase Agreement, the Company recorded total stock compensation expense based on the fair value of the Series C Convertible Redeemable Preferred Stock and warrants of $2,091 during the year ended June 30, 2015.

Preferred Stock Conversion

Sillerman Investment Company III, LLC (“SIC III”), an affiliate of Robert F.X. Sillerman, the Company's Executive Chairman and Chief Executive Officer of the Company, owned 10,000 shares of Series C Convertible Redeemable Preferred Stock. On May 9, 2016 (the “Exchange Date”), the Company and SIC III entered into a Subscription Agreement pursuant to which SIC III subscribed for 1,129,032 shares of the Company’s common stock at a price of $6.20 per share. Accordingly, the aggregate purchase price for such shares was $7,000. The Company and SIC III agreed that SIC III would pay the purchase price for such shares by exchanging $7,000 shares of the Company’s Series C Convertible Redeemable Preferred Stock owned by SIC III for the common stock (the “Exchange”). All conditions of the Subscription Agreement have been satisfied, and therefore 1,129,032 shares of the Company’s common stock were issued to SIC III. Mr. Sillerman and his affiliates now own more than 50% of the outstanding shares of the Company’s common stock. The Company determined that this was a fair transaction and did not recognize any stock compensation expense in relation with the conversion.

On August 22, 2016, the Company and SIC III, SIC IV, SIC VI entered into an Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of certain notes held by SIC III, SIC IV, and SIC VI other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Note dated as of June 11, 2015, was exchanged for 30,175 shares of the Company’s Series C Convertible Redeemable Preferred Stock at an exchange price of $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement (see Note 16, Subsequent events).

At June 30, 2016, there were 3,000 shares of Series C Convertible Redeemable Preferred Stock outstanding.

Series D Convertible Preferred Stock

On March 24, 2016, the Company created a new class of Series D Convertible Redeemable Preferred Stock (the “Series D Convertible Preferred Stock”). The Company authorized the issuance of up to 150 shares of the Series D Convertible Preferred Stock. The rights, preferences, privileges and restrictions of the shares of Series D Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series D Convertible Preferred Stock have a stated value of $1,000 per share.

• Each share of Series D Convertible Preferred Stock is convertible, at the option of the holders, at a rate of 167 shares of common stock for one share of converted Series D Convertible Preferred Stock.

• Shares of Series D Convertible Preferred Stock are not entitled to a liquidation preference.

• Conversions of the Series D Convertible Preferred Stock shall be limited such that any given conversion shall not cause the holder's aggregate beneficial ownership of the shares of common stock to exceed 9.99% of the Company’s outstanding common stock.

• The shares of Series D Convertible Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series D Convertible Preferred Stock is necessary for the Company to amend the Series D certificate of designation.

On April 13, 2016, MGT Sports, Inc. ("MGT") converted all 110 shares of the Company's Series D Convertible Preferred Stock it held into shares of common stock of the Company. Accordingly, the Company issued 18,332 shares of common stock to MGT. Thereafter, there are no shares of the Company's Series D Convertible Preferred Stock outstanding.

Public Offerings of Common Stock

On May 28, 2015, the Company closed an underwritten public offering of 181,309 shares of its common stock at a price of $50.00 per share, resulting in approximately $8,442 of net proceeds. The offering was made pursuant to a registration statement previously filed with the Securities and Exchange Commission which became effective on May 12, 2015.

On June 30, 2015, the Company closed an underwritten public offering of 102,439 shares of its common stock at a price of $41.00 per share, resulting in approximately $3,878 of net proceeds. The offering was made pursuant to a registration statement previously filed with the Securities and Exchange Commission which became effective on May 12, 2015.

Private Placements of Common Stock

Subscription Agreement

On December 3, 2015, the Company and SIC IV entered into a Subscription Agreement pursuant to which SIC IV subscribed for 437,500 shares of the Company’s common stock at a price of $9.40 per share. Accordingly, the aggregate purchase price for such shares was $4,112.

Non-controlling Interest

As discussed in Note 6, Acquisitions, on September 8, 2015, the Company acquired the assets of the DraftDay Business and its operations have been consolidated with the Company's operations as of that date. The Company has recorded non-controlling interest in its Consolidated Balance Sheets and Consolidated Statements of Operations for the portion of the DraftDay Business that the Company does not own. In the year ended June 30, 2016, Sportech invested an additional $257 into the DraftDay Business in exchange for shares of Series A Preferred Stock of DDGG for $1 per share. In connection with termination of the Sportech MSA at June 30, 2016 (see Note 6, Acquisitions), Sportech returned 4,200 shares of DDGG stock. The Company reduced non-controlling interest by $378, which represents the fair value of these shares.

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Share-Based Payments

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Payments

Share-Based Payments

Equity Incentive Plan

The 2011 Executive Incentive Plan (the "Plan") of the Company was approved on February 21, 2011 by the written consent of the holder of a majority of the Company's outstanding common stock. The Plan provides the Company the ability to grant to any officer, director, employee, consultant or other person who provides services to the Company or any related entity, options, stock appreciation rights, restricted stock awards, dividend equivalents and other stock-based awards and performance awards, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. The Plan provides for the issuance of a maximum of 6,250,000 shares of common stock.  Pursuant to the Executive Incentive Plan and the employment agreements, between February 15, 2011 and September 30, 2016, the Compensation Committee of the Company's Board of Directors authorized the grants of restricted stock and stock options described below.

Restricted Stock

Compensation expense related to restricted stock was $15 and $4,991 for the three months ended September 30, 2016 and 2015, respectively.  As of September 30, 2016, there was $29 in total unrecognized share-based compensation costs related to restricted stock. There was no restricted stock granted during the three months ended September 30, 2016.

Stock Options

The Company accounts for these options at fair market value of the options on the date of grant, with the value being recognized over the requisite service period. The fair value of each option award is estimated using a Black-Scholes option valuation model.  Expected volatility is based on the historical volatility of the price of comparable companies' stock.  The risk-free interest rate is based on U.S. Treasury issues with a term equal to the expected life of the option.  The Company uses historical data to estimate expected dividend yield, expected life and forfeiture rates.  Options generally have an expiration  of 10 years and vest over a period of 3 or 4 years.  There were no options granted during the three months ended September 30, 2016 and 2015.

Compensation expense related to stock options of $12 and $173 is included in the accompanying Consolidated Statements of Operations in selling, general and administrative expenses for the three months ended September 30, 2016 and 2015, respectively. As of September 30, 2016, there was approximately $133 of total unrecognized stock-based compensation cost which will generally be recognized over a four year period.

Share-Based Payments

Equity Incentive Plan

The 2011 Executive Incentive Plan (the "Plan") of the Company was approved on February 21, 2011 by the written consent of the holder of a majority of the Company's outstanding common stock. The Plan provides the Company the ability to grant to any officer, director, employee, consultant or other person who provides services to the Company or any related entity, options, stock appreciation rights, restricted stock awards, dividend equivalents and other stock-based awards and performance awards, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. The Company reserved 187,500 shares of common stock for delivery under the Plan.  Pursuant to the Plan and the employment agreements, between February 15, 2011 and June 30, 2016, the Compensation Committee of the Company's Board of Directors authorized the grants of restricted stock and stock options described below.

Restricted Stock

The per share fair value of RSUs granted with service conditions was determined on the date of grant using the fair market value of the shares on that date and is recognized as an expense over the requisite service period. This information does not include RSUs granted as part of the acquisitions of Wetpaint and Choose Digital.

Description	Shares		Weighted Average Grant Date Fair Value
Nonvested at July 1, 2015	23,313		$	1,044.60
Granted	17,571		32.60
Vested	(19,138	)	944.60
Forfeited and canceled	(17,704	)	74.80
Nonvested at June 30, 2016	4,042		$	2,740.40

Compensation expense related to restricted stock was $11,720 and $23,562 for the years ended June 30, 2016 and 2015, respectively.  As of June 30, 2016, there was $59 in unrecognized share-based compensation costs related to restricted stock.

During the fourth of fiscal 2016, the Company recorded an out-of-period adjustment related to the correction of an error for fiscal 2015 that was deemed immaterial for adjustment to the fiscal 2015 financial statements. The impact of the correction to the fiscal 2015 full year results was to decrease Selling, general and administrative expenses and accrued expense by $843. The adjustment was for erroneously recorded stock compensation expense on restricted stock units issued in connection with the Choose Digital acquisition. The Company corrected the error by decreasing accumulated deficit and accrued expenses by $843 as of June 30, 2016.

Stock Options

The following table summarizes the Company's stock option activity for year ended June 30, 2016:

Description	Number of Options		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value
Outstanding at July 1, 2015	59,091		$	223.80	8.97	$	21
Granted	11,767		6.60		—	—
Exercised	—		—		—	—
Forfeited and canceled	(24,803	)	68.60		—	—
Expired	(704	)	64.40		—	—
Outstanding at June 30, 2016	45,351		238.40		8.53	—
Exercisable at June 30, 2016	41,982		$	253.00	8.53	$	—

The Company accounts for stock options based on the fair market value on the date of grant, with the resulting expense recognized over the requisite service period.  The fair value of each option award is estimated using the Black-Scholes option valuation model.  Expected volatility is based on the historical volatility of the price of the Company's stock.  The risk-free interest rate is based on U.S. Treasury Notes with a term equal to the expected life of the option.  The Company uses historical data to estimate expected dividend yield, expected life and forfeiture rates.  Options generally have an expiration  of 10 years and vest over a period of 3 or 4 years.  The fair value of options granted during the years ended June 30, 2016 and 2015 were estimated based on the following weighted average assumptions:

	Year Ended June 30,
Description	2016			2015
Expected volatility	80		%	80		%
Risk-free interest rate	1.94		%	1.82		%
Expected dividend yield	—			—
Expected life (in years)	6.50			6.50
Estimated fair value per option granted	$	6.60		$	42.20

Compensation expense related to stock options of $147 and $1,420 is included in the accompanying Consolidated Statements of Operations in Selling, general and administrative expenses for the years ended June 30, 2016 and 2015, respectively. As of June 30, 2016, there was approximately $157 of unrecognized stock-based compensation cost related to stock options, which will generally be recognized over a four year period.

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Income Taxes

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three months ended September 30, 2016 and 2015, the Company did not record an income tax benefit because it has incurred taxable losses and has no history of generating taxable income and therefore the Company cannot presently anticipate the realization of a tax benefit on its Net Operating Loss carryforward. At September 30, 2016 the Company has a Net Operating Loss carryforward of approximately $162,900, which will begin to expire in 2030.

The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

The Company may in the future become subject to federal, state and local income taxation though it has not been since its inception.  The Company is not presently subject to any income tax audit in any taxing jurisdiction.

Income Taxes

For the years ended June 30, 2016 and 2015, the Company did not record an income tax benefit because it has incurred taxable losses and has no history of generating taxable income and therefore the Company cannot presently anticipate the realization of a tax benefit on its Net Operating Loss ("NOL") carryforward. At June 30, 2016 the Company has an NOL carryforward of $162.9 million, which will begin to expire in 2030. The Company has established a full valuation allowance against its deferred tax assets as of June 30, 2016 and 2015. Income tax expense for the years ended June 30, 2016 and 2015 was $0 and $0, respectively.

A reconciliation of the Company's statutory U.S. federal tax rate and its effective tax rate is as follows:

	Year Ended June 30,
Description	2016		2015
Statutory U.S. federal tax rate	35.00	%	35.00	%
State and local income taxes - net of federal benefit	10.37	%	10.37	%
Valuation allowance	(45.37	)%	(45.37	)%
Effective tax rate	—	%	—	%

The components of deferred taxes as of June 30, 2016, are as follows:

Deferred tax assets:	(in thousands)
Share-based compensation	$	92,824
Start-up expenditures	4,799
Other	2,043
Operating loss carryforward	79,476
Total deferred tax assets	179,142
Deferred tax liabilities:
Depreciation and amortization	(7,913		)
Valuation allowance	(171,229		)
Deferred tax asset, net	$	—

The components of deferred taxes as of June 30, 2015, are as follows:

Deferred tax assets:	(in thousands)
Share-based compensation	$	86,546
Start-up expenditures	5,236
Other	1,575
Operating loss carryforward	71,616
Total deferred tax asset	164,973
Deferred tax liabilities:
Depreciation and amortization	(6,156		)
Valuation allowance	(158,817		)
Deferred tax asset, net	$	—

The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

The Company may in the future become subject to federal, state and local income taxation though it has not been since its inception.  The Company is not presently subject to any income tax audit in any taxing jurisdiction.

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Related Party Transactions

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Shared Services Agreements

The Company also entered into a shared services agreement ("SFX Shared Services Agreement") with SFX, pursuant to which it shares costs for services provided by several of the Company's and/or SFX's employees. Such employees will continue to be paid by their current employers, and SFX will reimburse the Company directly for its portion of such salary and benefits and Company will reimburse SFX directly for its portion of such salary and benefits (but not for any bonus, option or restricted share grant made by either company, which will be the responsibility of the company making such bonus, option or restricted share grant). The Audit Committee of each company's Board of Directors reviews and, if appropriate, approves the allocations made and whether payments need to be adjusted or reimbursed, depending on the circumstances. The Company entered into an amendment (the “Amendment”) to the shared services agreement on January 22, 2015, pursuant to which the Company may provide additional services to SFX, and SFX may provide certain services to the Company. In particular, the shared services agreement provides that, in addition to services already provided, certain employees of the Company may provide human resources, content and programming, and facilities services to SFX, subject to reimbursement based on salary and benefits for the employees providing the services, plus 20% for miscellaneous overhead, based on a reasonable estimate of time spent. In addition, the Amendment provides that SFX may provide certain tax services to the Company, subject to reimbursement based on salary and benefits for the employees providing the services, plus 20% for miscellaneous overhead, based on a reasonable estimate of time spent.

The parties terminated the SFX Shared Services Agreement effective as of January 1, 2016. We continue to try to settle amounts remaining outstanding.

For the three months ended September 30, 2015, the Company was billed by SFX , net of amounts billed by the Company to SFX, respectively.  The net balance due (to)/from SFX, including amounts related to the Sales Agency Agreement, discussed below, as of September 30, 2016 and June 30, 2016 was $139 and $142, respectively.

License Agreement

On March 10, 2014, the Company entered into an audio recognition and related loyalty program software license and services agreement with SFX. Pursuant to the terms of the license agreement, SFX paid the Company $5,000 to license its audio recognition software and related loyalty platform for a term of 10 years. The amount was deferred and is being amortized over the ten years period. For the three months ended September 30, 2016 and 2015, the Company recognized $125 and $125, respectively of revenue related to this agreement.

Secured Line of Credit

On January 27, 2016, Sillerman Investment Company VI LLC (“SIC VI”), an affiliate of Robert F.X. Sillerman, the Executive Chairman and Chief Executive Officer of the Company, entered into a secured revolving loan agreement (the “Secured Revolving Loan”) with the Company and its subsidiaries, Wetpaint and Choose Digital (collectively, the “Subsidiaries”), pursuant to which the Company can borrow up to $1,500.  The Secured Revolving Loan bears interest at the rate of 12% per annum. In connection with the Secured Revolving Loan, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc. The Company intends to use the proceeds from the Secured Revolving Loan to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  As of June 30, 2016, $1,500 had been advanced thereunder.  Because Mr. Sillerman is a director, executive officer and greater than 10% stockholder of the Company, a majority of the Company’s independent directors approved the transaction. On August 22, 2016, the Company and SIC IV entered into an Note Exchange Agreement pursuant to which $1,500, which represents all of the outstanding principal and accrued interest of certain notes held by SIC IV was exchanged for 1,500 shares of the Company’s Series C Convertible Preferred Stock at an exchange price of $1,000 per share. See Note Exchange Agreement paragraph below for additional information on the August 22, 2016 exchange.

$500 Line of Credit

The Company and its subsidiaries entered into a secured, revolving Line of Credit on March 29, 2016 with SIC VI (the “Secured Revolving Line of Credit”), pursuant to which the Company can borrow up to $500.  The Secured Revolving Line of Credit bears interest at the rate of 12% per annum. In connection with the Secured Revolving Line of Credit, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc.  The Company intends to use the proceeds from the Secured Revolving Line of Credit to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  At June 30, 2016, $500 had been advanced thereunder.  On August 22, 2016, the Company and SIC VI entered into an Note Exchange Agreement pursuant to which $500, which represents all of the outstanding principal and accrued interest of certain notes held by SIC VI was exchanged for 500 shares of the Company’s Series C Convertible Preferred Stock at an exchange price of $1,000 per share. See Note Exchange Agreement paragraph below for additional information on the August 22, 2016 exchange.

Preferred Stock Conversion

Sillerman Investment Company III, LLC (“SIC III”), an affiliate of Robert F.X. Sillerman, the Company's Executive Chairman and Chief Executive Officer of the Company, owned 10,000 shares of Series C Convertible Redeemable Preferred Stock. On May 9, 2016 (the “Exchange Date”), the Company and SIC III entered into a Subscription Agreement pursuant to which SIC III subscribed for 1,129,032 shares of the Company’s common stock at a price of $6.20 per share. Accordingly, the aggregate purchase price for such shares was $7,000. The Company and SIC III agreed that SIC III would pay the purchase price for such shares by exchanging 7,000 shares of the Company’s Series C Convertible Redeemable Preferred Stock owned by SIC III for the common stock (the “Exchange”). All conditions of the Subscription Agreement have been satisfied, and therefore 1,129,032 shares of the Company’s common stock were issued to SIC III. Mr. Sillerman and his affiliates now own more than 50% of the outstanding shares of the Company’s common stock. The Company determined that this was a fair transaction and did not recognize any stock compensation expense in relation with the conversion.

Exchange Agreement

On July 8, 2016, the Company and SIC III, SIC IV and SIC VI, each an affiliate of Mr. Sillerman, entered into an Exchange Agreement pursuant to which, subject to adjustment, (i) 3,000 shares of the Company's Series C Preferred Stock owned by SIC III are to be exchanged for 890,898 shares of the Company's common stock and (ii) all of the debt held by Mr. Sillerman and such affiliates is to be exchanged for 5,066,654 shares of the Company's common stock. Issuance of the shares is conditioned upon approval of the Company’s shareholders (see "Shareholder Approval" in this section), the closing of an offering of the Company’s common stock in the amount of at least $10,000, approval of its Listing of Additional Shares application with NASDAQ, the Company shall not be subject to any bankruptcy proceeding, and various other conditions. The exchange price shall be equal to the lesser of $5.20 and the price at which the Debentures can be exchanged for shares of the Company’s common stock. The Company received an independent valuation with respect to the original exchange that the exchange price of $5.20 reflects fair value. Any additional change is subject to the receipt by the Company of an updated fair value determination. The agreement provides for termination in the event the conditions are not satisfied by March 31, 2017. At the date of this filing, this transaction has not yet closed.

Amended Exchange Agreement/Amended Grid Note

On July 18, 2016, SIC III, SIC IV and SIC VI, LLC entered into an amendment to the Exchange Agreement relating to the exchange of debt and shares of the Series C Preferred Stock of the Company for shares of the Company's common stock. The Exchange Agreement modified the Grid Note to provide that SIC IV shall be entitled to repayment of up to $2,000 of the outstanding principal balance of the Grid Note and the Company shall be entitled to draw up to an additional $5,000. $3,605 remains available to draw under the Grid Note and at the date of this filing, the current balance is $1,405.

Note Exchange Agreement

On August 22, 2016, the Company and SIC III, SIC IV, and SIC VI, each an affiliate of Mr. Sillerman, entered into a Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of the Note, the Loans, the Secured Revolving Loan, the Secured Revolving Promissory Note, the Secured Revolving Promissory Note II, and the Secured Revolving Promissory Note III (all described and defined in Note 9, Loans Payable) other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Promissory Note dated as of June 11, 2015 (see "Grid Note"), was exchanged for 30,175 shares of the Company’s Series C Preferred Stock (see "Amendment to Certificate of Designation of Series C Preferred Stock" in this section.) The exchange price is $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement, and subject to the additional obligations set forth in the Subordination Agreement and the Lockup Agreements. The Grid Note remains subject to the Exchange Agreement.

Related Approvals

Because the above transactions were subject to certain rules regarding “affiliate” transactions, the Company's Audit Committee and a majority of the independent members of the Company's Board of Directors approved each of these transactions.

Related Party Transactions

Shared Services Agreements

In an effort to economize on costs and be efficient in its use of resources, the Company entered into a shared services agreement with Circle Entertainment Inc. (“Circle”) as of February 15, 2011, pursuant to which it shares costs for legal and administrative services in support of Mitchell J. Nelson, its then-General Counsel and General Counsel to Circle.  The shared services agreement provides, in general, for sharing of the applicable support provided by either company to Mr. Nelson in connection with his capacity as General Counsel, and an allocation generally based on the services provided by Mr. Nelson, which were initially estimated to be divided evenly between the companies.  The Company is responsible for advancing the salary to Mr. Nelson for both companies and will be reimbursed by Circle for such salary and benefits (but not for any bonus, option or restricted share grant made by either company, which will be the responsibility of the company making such bonus, option or restricted share grant).  The agreement provides for the Chief Executive Officer or President of each Company to meet periodically to assess whether the services have been satisfactorily performed and to discuss whether the allocation has been fair.  The Audit Committee of each company's Board of Directors will then review and, if appropriate, approve the allocations made and whether payments need to be adjusted or reimbursed, depending on the circumstances.  Because this transaction is subject to certain rules regarding “affiliate” transactions, the Audit Committee and a majority of the independent members of the Company's Board of Directors have approved the shared services agreement.  This is deemed to be an affiliate transaction because Mr. Sillerman is the former Chairman, a Board member, and a greater than 10% stockholder of Circle and Mr. Nelson is Executive Vice President and General Counsel of Circle.  For the years ended June 30, 2016 and June 30, 2015, the Company billed Circle $14 and $27, respectively. Such billings primarily relate to support consisting of legal and administrative services. These services are to be reviewed and, if appropriate, approved by Circle's Audit Committee and the Company's Audit Committee. The balance due from Circle as of June 30, 2016 and June 30, 2015 was $0 and $113, respectively. The Company wrote-off the accounts receivable balance of $127 in the year ended June 30, 2016, the write-off appears as a bad debt expense on the Consolidated Statements of Operations.

The parties terminated the Circle Shared Services Agreement effective as of January 1, 2016. Circle is in the process of liquidation and any claim to be made under the Circle Shared Services Agreement will survive the termination of the Circle Shared Services Agreement.

The Company also entered into a shared services agreement with SFX Entertainment Inc. ("SFX"), pursuant to which it shares costs for services provided by several of the Company's and/or SFX's employees. Such employees will continue to be paid by their current employers, and SFX will reimburse the Company directly for its portion of such salary and benefits and Company will reimburse SFX directly for its portion of such salary and benefits (but not for any bonus, option or restricted share grant made by either company, which will be the responsibility of the company making such bonus, option or restricted share grant). The agreement provides for the Chief Executive Officer or President of each company to meet periodically to assess whether the services have been satisfactorily performed and to discuss whether the allocation has been fair. The Audit Committee of each company's Board of Directors will then review and, if appropriate, approve the allocations made and whether payments need to be adjusted or reimbursed, depending on the circumstances. The Company entered into an amendment (the “Amendment”) to the shared services agreement on January 22, 2015, pursuant to which the Company may provide additional services to SFX, and SFX may provide certain services to the Company. In particular, the shared services agreement provides that, in addition to services already provided, certain employees of the Company may provide human resources, content and programming, and facilities services to SFX, subject to reimbursement based on salary and benefits for the employees providing the services, plus 20% for miscellaneous overhead, based on a reasonable estimate of time spent. In addition, the Amendment provides that SFX may provide certain tax services to the Company, subject to reimbursement based on salary and benefits for the employees providing the services, plus 20% for miscellaneous overhead, based on a reasonable estimate of time spent.

The parties terminated the SFX Shared Services Agreement effective as of January 1, 2016. We continue to try to settle amounts remaining outstanding.

For the years ended June 30, 2016 and 2015, the Company billed SFX $188 and $978, net of amounts billed by SFX to the Company, respectively.  The net balance due from SFX, including amounts related to the Sales Agency Agreement, discussed below, as of June 30, 2016 and June 30, 2015 was $142 and $146, respectively.

Sales Agency Agreement

On January 22, 2015, the Company entered into a sales agency agreement (the “Sales Agreement”) with SFX-94 LLC (“SFX-94”), a subsidiary of SFX, pursuant to which the Company appoints SFX-94 as its exclusive sales agent for the sale of advertising and sponsorships. Pursuant to the Sales Agreement, the Company consented to SFX-94’s hiring of 25 members of the Company’s sales team, and SFX-94 agreed that it will sell advertising and sponsorships on behalf of the Company during the term of the Sales Agreement. SFX-94 also agreed that it will maintain adequate staffing levels, generally consistent with staffing levels currently maintained by the Company, for the Company’s sale of advertising and sponsorships. The Company will pay SFX-94 a 25% commission on sales made by SFX-94. For barter transactions, the Company will reimburse SFX-94 for any out of pocket and direct costs incurred by SFX-94 with respect to such barter sales (rather than the commission set forth above), and third party ad networks will be excluded from the Sales Agreement. For the years ended June 30, 2016 and 2015, the Company was billed $424 and $471, respectively in connection with the Sales Agreement. On September 22, 2015, the parties terminated the Sales Agreement, and the Company subsequently hired 8 members of the SFX sales team as of that date.

Advertising Revenue

During the years ended June 30, 2016 and 2015, the Company provided certain advertising and related services to SFX and its subsidiaries. The total amount of net revenue was $37 and $487, respectively and such amounts were due from SFX at June 30, 2016 and 2015.

Marketing Expense

During the year ended June 30, 2015, SFX, and certain subsidiaries of SFX, provided certain marketing and related services to the Company. The total amount of marketing expense was $490 and such amount was due to SFX at June 30, 2015.

DraftDay

In October 2015 the Company entered into an agreement with DDGG to expand its rewards catalog and offer to its users the opportunity to redeem Viggle points for entry to DDGG’s fantasy sports contests. The Company agreed to pay DDGG the value of the entry fees for which points were redeemed. For the year ended June 30, 2016, $39 worth of Viggle points were redeemed for DDGG contest entry fees.

License Agreement

On March 10, 2014, the Company entered into an audio recognition and related loyalty program software license and services agreement with SFX. Pursuant to the terms of the license agreement, SFX paid the Company $5,000 to license its audio recognition software and related loyalty platform for a term of ten years. The amount was deferred and is being amortized over the ten year period. For the years ended June 30, 2016 and 2015, the Company recognized $500 and $500, respectively, of revenue related to this agreement.

Lines of Credit

See Note 9, Loans Payable, for a description of certain loans which have been provided by related parties. In addition, see Note 16, Subsequent Events, for additional discussion of certain related party transactions.

As described in Note 9, Loans Payable, on December 3, 2015, the Company and SIC IV entered into a Subscription Agreement pursuant to which SIC IV subscribed for 437,500 shares of the Company’s common stock at a price of $9.40 per share. Accordingly, the aggregate purchase price for such shares was $4,112. The Company and SIC IV agreed that SIC IV would pay the purchase price for such shares by reducing the amounts outstanding under the Line of Credit. As of December 3, 2015, there was $8,675 in outstanding principal amount under the Line of Credit. Accordingly, the principal amount of the Line of Credit was therefore reduced to $4,563.

Secured Line of Credit

On January 27, 2016, Sillerman Investment Company VI LLC (“SIC VI”), an affiliate of Robert F.X. Sillerman, the Executive Chairman and Chief Executive Officer of the Company, entered into a secured revolving loan agreement (the “Secured Revolving Loan”) with the Company and its subsidiaries, Wetpaint and Choose Digital (collectively, the “Subsidiaries”), pursuant to which the Company can borrow up to $1,500.  The Secured Revolving Loan bears interest at the rate of 12% per annum. In connection with the Secured Revolving Loan, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc. The Company intends to use the proceeds from the Secured Revolving Loan to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  As of June 30, 2016, $1,500 has been advanced thereunder.  Because Mr. Sillerman is a director, executive officer and greater than 10% stockholder of the Company, a majority of the Company’s independent directors approved the transaction.

$500 Line of Credit

The Company and its subsidiaries entered into a secured, revolving Line of Credit on March 29, 2016 with SIC VI (the “Secured Revolving Line of Credit”), pursuant to which the Company can borrow up to $500.  The Secured Revolving Line of Credit bears interest at the rate of 12% per annum. In connection with the Secured Revolving Line of Credit, the Company and the Subsidiaries have entered into a Security Agreement (the “Security Agreement”) with SIC VI, under which the Company and the Subsidiaries have granted SIC VI a continuing security interest in all assets of the Company and the Subsidiaries, with the exception of the Company’s interest in DraftDay Gaming Group, Inc.  The Company intends to use the proceeds from the Secured Revolving Line of Credit to fund working capital requirements and for general corporate purposes in accordance with a budget to be agreed upon by SIC VI and the Company.  At June 30, 2016, $500 had been advanced thereunder.  

Preferred Stock Conversion

Sillerman Investment Company III, LLC (“SIC III”), an affiliate of Robert F.X. Sillerman, the Company's Executive Chairman and Chief Executive Officer of the Company, owned 10,000 shares of Series C Convertible Redeemable Preferred Stock. On May 9, 2016 (the “Exchange Date”), the Company and SIC III entered into a Subscription Agreement pursuant to which SIC III subscribed for 1,129,032 shares of the Company’s common stock at a price of $6.20 per share. Accordingly, the aggregate purchase price for such shares was $7,000. The Company and SIC III agreed that SIC III would pay the purchase price for such shares by exchanging 7,000 shares of the Company’s Series C Convertible Redeemable Preferred Stock owned by SIC III for the common stock (the “Exchange”). All conditions of the Subscription Agreement have been satisfied, and therefore 1,129 shares of the Company’s common stock were issued to SIC III. Mr. Sillerman and his affiliates now own more than 50% of the outstanding shares of the Company’s common stock. The Company determined that this was a fair transaction and did not recognize any stock compensation expense in relation with the conversion.

Related Approvals

Because the above transactions were subject to certain rules regarding “affiliate” transactions, the Company's Audit Committee and a majority of the independent members of the Company's Board of Directors approved each of these transactions.

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Fair Value Measurement

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair Value Measurement

The Company values its assets and liabilities using the methods of fair value as described in ASC 820.  ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  The three levels of fair value hierarchy are described below:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and considers counter-party credit risk in its assessment of fair value.  Observable or market inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions based on the best information available. The Company has certain liabilities that are required to be recorded at fair value on a recurring basis in accordance with accounting principles generally accepted in the United States, as described below.

The Company issued 1,068 warrants in connection with the May 10, 2012 PIPE. Each warrant has a sale price of $8,800 and is exercisable into 1 share of common stock at a price of $12,800 over a term of three years. Further, the exercise price of the warrants is subject to "down round" protection, whereby any issuance of shares at a price below the current price resets the exercise price equal to a the price of newly issued shares (the "Warrants"). In connection with the PIPE Exchanges on September 16, 2013, the exercise price of the Warrants was reset to $2. The fair value of such warrants has been determined utilizing the Binomial Lattice Model in accordance with ASC 820-10, Fair Value Measurements. The fair value of the warrants when issued was $5,281. On September 16, 2013, 341 warrants were exchanged in connection with the PIPE Exchanges. The remaining 14,545 warrants were marked to market as of September 30, 2016 and 2015 to a fair value of $10 and $10, respectively. The Company recorded gains/(losses) of $0 and $(5) to other income, net in the Consolidated Statements of Operations for the nine months ended September 30, 2016 and 2015, respectively. The fair value of the warrant is classified as a long-term liability on the Consolidated Balance Sheets as of September 30, 2016, due to the Company's intention to retire a significant portion of these warrants in its next round of financing. The Company's warrants were classified as a Level 3 input within the fair value hierarchy because they were valued using unobservable inputs and management's judgment due to the absence of quoted market prices and inherent lack of liquidity.

On February 8, 2016, the Company received Perk warrants as part of the consideration in the sale of the Viggle business. The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model, in accordance with ASC 820-10, Fair Value Measurements. The changes to fair value are recorded in the Consolidated Statement of Operations. The fair value of the warrants when issued was $1,023. The warrants were marked to market as of September 30, 2016 to a fair value of $1,091. The Company recorded a loss of $503 to other expense, net in the Consolidated Statements of Operations for the three months ended September 30, 2016. The fair value of the warrant was classified as an other asset on the Consolidated Balance Sheet as of June 30, 2016. The Perk warrants were classified as a Level 3 input within the fair value hierarchy because they were valued using unobservable inputs and management's judgment due to the absence of quoted market prices and inherent lack of liquidity.

In February 2016, the Company received 1,370,000 shares of Perk stock, which is publicly traded on the Toronto Stock Exchange, as part of the consideration in the sale of assets described in the Perk Agreement. These securities are short-term marketable securities, and have been classified as "available-for-sale" securities. Pursuant to ASC 320-10, "Investments - Debt and Equity Securities" the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss.

On September 30, 2016, the Company sold to Perk the remaining shares (1,013,068) of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. The execution of the Securities Purchase Agreement and closing were simultaneous. In connection with the sale of the Perk shares, the warrants for additional shares and the right to the Earn-Out Shares, the Company recorded a loss of $2,193 in the Other Expense line item of the Consolidated Statements of Operations for the three months ended September 30, 2016.

As discussed in Note 6, Acquisitions, the Company purchased Rant on July 12, 2016. In conjunction with the Rant acquisition, the Company delivered a Secured Convertible Note to Rant in the amount of $3,000 and issued 4,435 of Series E Convertible Preferred Stock. In accordance with ASC 820, the Company had the Secured Convertible Note and Series E Preferred Stock fair valued at the acquisition date. The fair value of the Rant Note was $3,500 and the fair value of the Series E Preferred Stock was $7,600. The Rant Note and Series E Preferred Stock were recorded at their acquisition date fair values with a corresponding charges to goodwill in the Consolidated Balance Sheets at September 30, 2016.

On July 12, 2016, the Company closed the Private Placement of $4,444 principal amount of the Debentures and Warrants. The Debentures and Warrants were fair valued at the Private Placement closing date. The fair value of the Conversion feature was $1,856 and the fair value of the Warrants was $1,500. The Conversion feature and Warrants were recorded at the Private Placement closing date fair values with corresponding charges to debt discount of $1,856 for the Debentures and $1,500 for the Warrants in the Consolidated Balance Sheets at September 30, 2016.

On August 22, 2016, the Company and SIC III, SIC IV, SIC VI entered into an Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of certain notes held by SIC III, SIC IV, and SIC VI other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Note dated as of June 11, 2015, was exchanged for 30,175 shares of the Company’s Series C Convertible Preferred Stock at an exchange price of $1,000 per share. The Series C Convertible Preferred Stock was fair valued at the exchange date, August 22, 2016, and determined to be $28,500. The Series C Convertible Preferred Stock was recorded at the exchange date fair value with a corresponding charge to additional paid-in capital of $1,675 in the Consolidated Balance Sheets at September 30, 2016.

Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

On a nonrecurring basis, the Company uses fair value measures when analyzing asset impairment. Long-lived assets and certain identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined such indicators are present and the review indicates that the assets will not be fully recoverable, based on undiscounted estimated cash flows over the remaining amortization periods, their carrying values are reduced to estimated fair value. Measurements based on undiscounted cash flows are considered to be Level 3 inputs. During the fourth quarter of each year, the Company evaluates goodwill and indefinite-lived intangibles for impairment at the reporting unit level. For each acquisition, the Company performed a detailed review to identify intangible assets and a valuation is performed for all such identified assets. The Company used several market participant measurements to determine estimated value. This approach includes consideration of similar and recent transactions, as well as utilizing discounted expected cash flow methodologies, and/or revenue or EBITDA multiples, among other methods. The amounts allocated to assets acquired and liabilities assumed in the acquisitions were determined using Level 3 inputs. Fair value for property and equipment was based on other observable transactions for similar property and equipment. Accounts receivable represents the best estimate of balances that will ultimately be collected, which is based in part on allowance for doubtful accounts reserve criteria and an evaluation of the specific receivable balances.

Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the reporting units retained. The relative fair value of each reporting unit is established using discounted expected cash flow methodologies, and/or revenue or EBITDA multiples, or other applicable valuation methods, which are considered to be Level 3 inputs.

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2016	$	648
Unrealized losses for the period included in other income (expense), net	(503		)
Sale of Perk warrants	(145		)
Balance at September 30, 2016	$	—

As noted above, on September 30, 2016, the Company sold to Perk the remaining shares of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. In connection with the sale of the Perk shares, the warrants for additional shares and the right to the Earn-Out Shares, the Company recorded a loss of $2,193 in the Other Expense line item of the Consolidated Statements of Operations for the three months ended September 30, 2016.

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2016	$	10
Additions to Level 3	—
Balance at September 30, 2016	$	10

Fair Value Measurement

The Company values its assets and liabilities using the methods of fair value as described in ASC 820, "Fair Value Measurements and Disclosures" ("ASC 820").  ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  The three levels of fair value hierarchy are described below:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and considers counter-party credit risk in its assessment of fair value.  Observable or market inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions based on the best information available. The Company has certain assets and liabilities that are required to be recorded at fair value on a recurring basis in accordance with accounting principles generally accepted in the United States, as described below.

The Company issued 1,068 warrants in connection with the May 10, 2012 PIPE. Each warrant has a sale price of $8,800 and is exercisable into 1 share of common stock at a price of $12,800 over a term of three years. Further, the exercise price of the warrants is subject to "down round" protection, whereby any issuance of shares at a price below the current price resets the exercise price equal to a the price of newly issued shares (the "Warrants"). In connection with the PIPE Exchanges the exercise price of the Warrants was reset to $1,840 on September 16, 2013. The fair value of such warrants has been determined utilizing the Binomial Lattice Model in accordance with ASC 820-10. The fair value of the warrants when issued was $5,281 and was $443 as of June 30, 2013. 341 warrants were exchanged on September 16, 2013. The remaining 727 warrants were marked to market as of June 30, 2016 and 2015 to a fair value of $10 and $10, respectively. The Company recorded gains of $0 and $5 to other income, net in the Consolidated Statements of Operations for the years ended June 30, 2016 and June 30, 2015, respectively. The fair value of the warrant is classified as a long term liability on the Consolidated Balance Sheet as of June 30, 2016. The Company's warrants were classified as a Level 3 input within the fair value hierarchy because they were valued using unobservable inputs and management's judgment due to the absence of quoted market prices and inherent lack of liquidity.

The Company originally estimated the fair value of contingent consideration for the acquisition of Choose Digital to be $2,570. On June 24, 2015, the Company determined that the maximum amount of consideration of $4,792 should be recorded. As such, the Company adjusted the original estimate of consideration of $2,570 to a final value of $4,792. The increase of $2,222 is recorded as an expense and included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations for the year ended June 30, 2015. The fair value of the contingent consideration is no longer classified as a Level 3 input and the obligation is presented in accounts payable and accrued expenses on the Consolidated Balance Sheets at June 30, 2016 and 2015.

On February 8, 2016, the Company received Perk warrants as part of the consideration in the sale of the Viggle business. The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model, in accordance with ASC 820. The changes to fair value are recorded in the income statement. The fair value of the warrants when issued was $1,023. The warrants were marked to market as of June 30, 2016 to a fair value of $648. The Company recorded a loss of $376 to other income, net in the Consolidated Statements of Operations for the year ended June 30, 2016. The fair value of the warrant is classified as an other asset on the Consolidated Balance Sheets as of June 30, 2016. The Perk warrants were classified as a Level 3 input within the fair value hierarchy because they were valued using unobservable inputs and management's judgment due to the absence of quoted market prices and inherent lack of liquidity.

In February 2016, the Company received 1,370,000 shares of Perk stock, which is publicly traded on the Toronto Stock Exchange, as part of the consideration in the sale of assets described in the Perk Agreement. These securities are short-term marketable securities, and have been classified as "available-for-sale" securities. Pursuant to ASC 320-10, "Investments - Debt and Equity Securities" the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss.

The cost and market value of the Perk shares at June 30, 2016 were as follows:

	June 30, 2016
	Cost		Market
Current:
Perk shares	$	2,708	$	2,495
Total	$	2,708	$	2,495

The cost of the Perk shares of $2,708 represents the fair value of the shares on the issuance date, February 8, 2016. The market value of the Perk shares of $2,495 represents the fair value of the stocks on June 30, 2016. The gross unrealized loss was $361 and the foreign exchange gain was $148 for the year ended June 30, 2016, respectively.

On September 30, 2016, the Company simultaneously entered into a Securities Purchase Agreement with Perk, and closed the sale to Perk of the remaining shares of Perk common stock, warrants, and right to be issued additional shares of common stock (under certain conditions) received as consideration under the closing of the Perk Agreement (see Note 16, Subsequent Events).

Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

On a nonrecurring basis, the Company uses fair value measures when analyzing asset impairment. Long-lived assets and certain identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined such indicators are present and the review indicates that the assets will not be fully recoverable, based on undiscounted estimated cash flows over the remaining amortization periods, their carrying values are reduced to estimated fair value. Measurements based on undiscounted cash flows are considered to be Level 3 inputs. During the fourth quarter of each year, the Company evaluates goodwill and indefinite-lived intangibles for impairment at the reporting unit level. For each acquisition, the Company performed a detailed review to identify intangible assets and a valuation is performed for all such identified assets. The Company used several market participant measurements to determine estimated value. This approach includes consideration of similar and recent transactions, as well as utilizing discounted expected cash flow methodologies, and/or revenue or earnings before interest, taxes, depreciation and amortization ("EBITDA") multiples, among other methods. The amounts allocated to assets acquired and liabilities assumed in the acquisitions were determined using Level 3 inputs. Fair value for property and equipment was based on other observable transactions for similar property and equipment. Accounts receivable represents the best estimate of balances that will ultimately be collected, which is based in part on allowance for doubtful accounts reserve criteria and an evaluation of the specific receivable balances.

Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the reporting units retained. The relative fair value of each reporting unit is established using discounted expected cash flow methodologies, and/or revenue or EBITDA multiples, or other applicable valuation methods, which are considered to be Level 3 inputs.

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2015	$	—
Perk warrants	1,023
Unrealized losses for the period including in other income (expense), net	(375		)
Balance at June 30, 2016	$	648

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs: (level 3):

	(in thousands)
Balance at July 1, 2015	$	10
Additions to Level 3	—
Balance at June 30, 2016	$	10

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Subsequent Events

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

MGT Shares

On October 10, 2016, the Company satisfied the MGT Notes through the issuance of 136,304 shares of its common stock and payment of interest of $16.

Events of Default

The Company is currently in default under the Debentures issued in the Private Placement for failure to make the first amortization payment and for failure to maintain the Minimum Cash Reserve.

On October 12, 2016, the first amortization payment in the amount of $444, plus accrued interest of approximately $114 pursuant to the terms of the Debentures became due and payable to the Purchasers. The Company did not make such payment at the time it was due.The Company entered into waiver agreements with Purchasers holding approximately 87% of the principal amount of the Debentures. Such waivers are not binding on the remaining Purchasers of the Debentures. Pursuant to the terms of the Waiver, the Purchasers have agreed to waive the payment of the amortization payments and accrued interest due for October 2016 and November 2016. In consideration for waiving the payment terms of the Debentures, the Company has agreed to pay, upon execution of the Waiver, 10% of the Amortization Amount that became due on October 12, 2016 and has agreed to pay on November 12, 2016 10% of the Amortization Amount due in November 2016. All other amounts will be due and payable in accordance with the terms of the Debentures, with the deferred payments due at maturity. The Company did not receive a waiver from one of its debenture holders, holding approximately 13% of the principal amount of the Debentures with respect to the event of default arising out of the Company’s failure to make the first amortization payment when due. Pursuant to the terms of the Debentures, such holder has sent a notice of acceleration, stating that the Company owes $696, reflecting the principal amount of the Debenture plus interest through November 1, 2016. Interest will accrue at 18% until this amount is satisfied. The Company is seeking to settle the matter with the holder; however, there can be no assurance that an agreement will be reached.

The waivers entered into with some of the Purchasers related to the failure to pay the amortization amount do not address the failure to maintain the Minimum Cash Reserve. Pursuant to the terms of the Debentures, the failure to cure the non-payment of amortization or failure to maintain the Minimum Cash Reserve within three trading days after the due date constitutes an Event of Default. Following the occurrence of an event of default, among other things: (1) at the Purchaser’s election, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, plus all interest that would have been earned through the one year anniversary of the original issue date if such interest has not yet accrued, liquidated damages and other amounts owed through the date of acceleration, shall become, immediately due and payable in either cash or stock pursuant to the terms of the Debentures; and (2) the interest rate on the Debentures will increase to the lesser of 18% or the maximum allowed by law. In addition to other remedies available to the Purchasers. the Company's obligation to repay amounts due under the Debentures is secured by a first priority security interest in and lien on all of the Company's assets and property, including the Company's intellectual property, and such remedies can be exercised by the Purchasers without additional notice to the Company.

Under terms of the $3,000 Secured Convertible Note issued in connection with the acquisition of Rant, a default under other indebtedness owed by the Company constitutes a default under the Rant Note. As a result of such Event of Default, the holder of the Rant Note has executed a waiver that provides that, until May 15, 2017, the events of default arising out of the failure to pay the amounts due under the Debentures as of the date of the waiver and the failure by the Company to maintain the Minimum Cash Reserve shall not constitute events of default for purposes of the Rant Note.

Pursuant to the terms of the Registration Rights Agreement, the Company is required to pay liquidated damages to the Purchasers if the resale Registration Statement, of which this prospectus is a part, was not declared effective within 90 days of the filing deadline, which was August 11, 2016. As a result, the Purchasers are entitled to liquidated damages on the date the deadline was missed and on each monthly anniversary thereafter until the Registration Statement is declared effective calculated as follows:

• 1.5% of the purchase price paid for securities purchased pursuant to the Purchase Agreement payable in cash; and

• Shares of Common Stock of the Company equivalent to 1.5% of the purchase price divided by the average closing bid price for the Company’s common stock for the five-day period prior to the date liquidated damaged became due (or the monthly anniversary thereof).

After the first monthly anniversary, any liquidated damages will be pro-rated on a daily basis for any portion of a month before the Registration Statement is declared effective. In no event will the Company be liable for liquidated damages in excess of 12% of the aggregate purchase price of securities purchased under the Purchase Agreement.

Departure of an Officer

On October 18, 2016, Olga Bashkatova resigned her position as the Controller and Principal Accounting Officer of the Company effective October 26, 2016. Her employment agreement with the Company, previously reported on the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016, was terminated as of October 26, 2016.

NASDAQ Status

The Company's common stock is listed on The NASDAQ Capital Market under the symbol FNCX. The NASDAQ Staff informed the Company that it failed to comply with NASDAQ's continued listing criteria for stockholders’ equity and minimum bid price. In response, the Company appealed the decision to a NASDAQ Listing Qualifications Panel (the “Panel”). Following the hearing and an extension of time to regain compliance granted by the Panel, the Company was notified by NASDAQ on November 1, 2016 that it had regained compliance with the stockholders’ equity and bid price requirements. The Panel further indicated, however, that the Company will remain subject to a “Panel Monitor” as that term is defined under NASDAQ Listing Rule 5815(d)(4)(A), through November 1, 2017.

Under the terms of the Panel Monitor, in the event the Company’s stockholders’ equity falls below the $2.5 million threshold (or any other requirement that would ordinarily require the Company to submit a compliance plan to the NASDAQ Staff) during the monitor period and the Company does not qualify for continued listing under an alternative to the stockholders’ equity requirement, the Panel will promptly conduct a hearing with respect to the stockholders’ equity deficiency.

In addition, the Company received a letter from NASDAQ that due to the resignation of Birame Sock as a director, the Company is no longer in compliance with NASDAQ rules relating to independent directors and audit committee compliance. The Company has until February 1, 2017 to regain compliance with these requirements.

Secured Lines of Credit

Since the three months ended September 30, 2016, the Company borrowed an additional $505 under the SIC IV Line of Credit as of the date of this filing. The principal amount now outstanding under the Line of Credit is $2,115 and the Company is entitled to draw up to an additional $3,785 under the Line of Credit.

Subsequent Events

Secured Revolving Loan

On June 27, 2016, SIC VI entered into a secured revolving loan agreement (the “Secured Revolving Loan”) with the Company and its subsidiaries, pursuant to which the Company can borrow up to $1,200. The Secured Revolving Loan bears interest at the rate of 12% per annum and matures on December 31, 2016, barring any events of default or a change of control of the Company. Since June 30, 2016 and through the date of this filing, an additional $315 had been advanced thereunder. As a result of the exchange agreement referred to in "Note Exchange Agreement" below, this loan has been satisfied.

Exchange Agreement

On July 8, 2016, the Company and SIC III, SIC IV and SIC VI, each an affiliate of Mr. Sillerman, entered into an Exchange Agreement pursuant to which, subject to adjustment, (i) 3,000 shares of the Company's Series C Preferred Stock owned by SIC III are to be exchanged for 890,898 shares of the Company's common stock and (ii) all of the debt held by Mr. Sillerman and such affiliates is to be exchanged for 5,066,654 shares of the Company's common stock. Issuance of the shares is conditioned upon approval of the Company’s shareholders (see "Shareholder Approval" in this section), the closing of an offering of the Company’s common stock in the amount of at least $10,000, approval of its Listing of Additional Shares application with NASDAQ, the Company shall not be subject to any bankruptcy proceeding, and various other conditions. The exchange price shall be equal to the lesser of $5.20 and the price at which the Debentures can be exchanged for shares of the Company’s common stock. The Company received an independent valuation with respect to the original exchange that the exchange price of $5.20 reflects fair value. Any additional change is subject to the receipt by the Company of an updated fair value determination. The agreement provides for termination in the event the conditions are not satisfied by March 31, 2017. At the date of this filing, this transaction has not yet closed.

Amended Exchange Agreement/Amended Grid Note

On July 18, 2016, SIC III, SIC IV and SIC VI, LLC entered into an amendment to the Exchange Agreement relating to the exchange of debt and shares of the Series C Preferred Stock of the Company for shares of the Company's common stock. The Exchange Agreement modified the Grid Note to provide that SIC IV shall be entitled to repayment of up to $2,000 of the outstanding principal balance of the Grid Note and the Company shall be entitled to draw up to an additional $5,000. $4,291 remains available to draw under the Grid Note and at the date of this filing, the current balance is $1,609.

Note Exchange Agreement

On August 22, 2016, the Company and SIC III, SIC IV, and SIC VI, each an affiliate of Mr. Sillerman, entered into a Note Exchange Agreement pursuant to which $30,175, which represents all of the outstanding principal and accrued interest of the Note, the Loans, the Secured Revolving Loan, the Secured Revolving Promissory Note, the Secured Revolving Promissory Note II, and the Secured Revolving Promissory Note III (all described and defined in Note 9, Loans Payable) other than $900 of debt held by SIC IV pursuant to that certain Line of Credit Grid Promissory Note dated as of June 11, 2015 (see "Grid Note"), was exchanged for 30,175 shares of the Company’s Series C Preferred Stock (see "Amendment to Certificate of Designation of Series C Preferred Stock" in this section.) The exchange price is $1,000 per share. The Note Exchange Agreement provides for the newly issued shares to be held subject to the obligations to convert the shares into common stock on the terms and on the conditions set forth in the Exchange Agreement, and subject to the additional obligations set forth in the Subordination Agreement and the Lockup Agreements. The Grid Note remains subject to the Exchange Agreement.

Rant Acquisition

On July 12, 2016, the Company and RACX, completed an acquisition pursuant to an Asset Purchase Agreement with Rant, Inc., pursuant to which RACX has acquired the assets of Rant used in the operation of Rant’s Rant.com independent media network and related businesses.

In consideration for the purchase of the Rant Assets, the Company (i) delivered a Secured Convertible Promissory Note to Rant in the amount of $3,000; (ii) assumed $2,000 of liabilities of Rant and (iii) issued to Rant 4,435 shares of Company Series E Convertible Preferred Stock.

Private Placement

On July 12, 2016, the Company closed a private placement (the "Private Placement") of $4,444 principal amount of convertible debentures (the "Debentures") and common stock warrants (the "Warrants".) The Debentures and Warrants were issued pursuant to a Securities Purchase Agreement, dated July 12, 2016 (the “Purchase Agreement”), by and among us and certain accredited investors within the meaning of the Securities Act of 1933, as amended (the “Purchasers”). Upon the closing of the Private Placement, we received gross proceeds of $4,000 before placement agent fees and other expenses associated with the transaction. $1,162 of the proceeds was used to repay the Grid Note.

The Debentures mature on the one-year anniversary of the issuance date thereof. The Debentures are convertible at any time at the option of the holder into shares of the the Company's common stock at an initial conversion price of $6.2660 per share (the “Conversion Price”). Based on such initial Conversion Price, the Debentures will be convertible into up to 780,230 shares of common stock. If we issue or sell shares of our common stock, rights to purchase shares of our common stock, or securities convertible into shares of our common stock for a price per share that is less than the Conversion Price then in effect, the Conversion Price then in effect will be decreased to equal such lower price. The adjustments to the Conversion Price will not apply to certain exempt issuances, including issuances pursuant to certain employee benefit plans or for certain acquisitions. In addition, the Conversion Price is subject to adjustment upon stock splits, reverse stock splits, and similar capital changes. However, in no event will the Conversion Price be less than $0.10 per share. The Debentures are secured by a first priority lien on substantially all of our assets in accordance with a security agreement.

The Debentures bear interest at 10% per annum with interest payable upon maturity or on any earlier redemption date. At any time after the issuance date, we will have the right to redeem all or any portion of the outstanding principal balance of the Debentures, plus all accrued but unpaid interest at a price equal to 120% of such amount. The holders of Debentures shall have the right to convert any or all of the amount to be redeemed into common stock prior to redemption. Subject to certain exceptions, the Debentures contain customary covenants against incurring additional indebtedness and granting additional liens and contain customary events of default. Upon the occurrence of an event of default under the Debentures, a holder of Debentures may require us to pay the greater of (i) the outstanding principal amount, plus all accrued and unpaid interest, divided by the Conversion Price multiplied by the daily volume weighted average price or (ii) 115% of the outstanding principal amount plus 100% of accrued and unpaid interest. Pursuant to the Debentures, we are required to make amortizing payments of the aggregate principal amount, interest, and other amounts outstanding under the Debentures. Such payments must be made beginning three months from the issuance of the Debentures and on the monthly anniversary through and including the maturity date. The Amortization Amount is payable in cash or in shares of our common stock pursuant to the conversion mechanism contained in the Debentures.

On July 20, 2016, we and the Purchasers entered into an Amendment to Securities Purchase Agreement and Consent to Modify Debentures (the “Amendment and Consent”). The Amendment and Consent provides that, while the Debentures are outstanding, Mr. Sillerman will guarantee that we shall have $1,000 available in our commercial bank account or otherwise available in liquid funds. At any time when our available funds fall below $1,000, Mr. Sillerman will provide (the “Sillerman Guaranty”) the amounts necessary to make-up the shortfall in an aggregate amount not to exceed $6,000; however, the first $5,000 of the guaranty shall be provided by drawing down on our Line of Credit with SIC IV. Any remaining amounts, up to a maximum aggregate of $1,000 million shall be provided by Sillerman. In connection with the Sillerman Guaranty, the Company's independent directors approved a fee of $100 as compensation for providing such guaranty.

As a part of the Private Placement, we issued Warrants to the Purchasers providing them with the right to purchase up to an aggregate of 354,650 shares of the Company’s common stock at an initial exercise price of $6.5280 per share. Subject to certain limitations, the Warrants are exercisable on any date after the date of issuance and the exercise price for the Warrant is subject to adjustment for certain events, such as stock splits and stock dividends. If we issue or sell shares of our common stock, rights to purchase shares of our common stock, or securities convertible into shares of our common stock for a price per share that is less than the conversion price of the Debentures, the exercise price of the Warrants will be decreased to a lower price based on the amount by which the conversion price of the Debentures was reduced due to such transaction. The foregoing adjustments to the exercise price for future stock issues will not apply to certain exempt issuances, including issuances pursuant to certain employee benefit plans or for certain acquisitions. In addition, the exercise price is subject to adjustment upon stock splits, reverse stock splits, and similar capital changes. The Warrants will expire 5 years from the initial issuance date.

In addition, we issued to Aegis Capital Corporation (“Aegis”), the placement agent in connection with the Private Placement, Warrants providing them with the right to purchase up to an aggregate of 53,200 shares of our common stock at initial exercise price of $6.5280 per share. The Warrants issued to Aegis contain substantially the same terms as the Warrants issued to the Purchasers.

The Purchasers shall not have the right to convert the Debentures or exercise the Warrants to the extent that such conversion or exercise would result in such Purchaser being the beneficial owner in excess of 4.99% of our common stock. In addition, the Purchasers have no right to convert the Debentures or exercise the Warrants if the issuance of the shares of common stock upon such conversion or exercise would exceed the aggregate number of shares of our common stock which we may issue upon conversion of the Note and exercise of the Warrant without breaching our obligations under NASDAQ listing rules. Such limitation does not apply if our shareholders approve such issuances. We intend to promptly seek shareholder approval for issuances of shares of common stock issuable upon conversion of the Debentures and exercise of the Warrants.

In connection with the Private Placement, we and the Purchasers entered into a Registration Rights Agreement under which we were required, on or before 30 days after the closing of the Private Placement, to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of our common stock issuable pursuant to the Debentures and Warrants and to use commercially reasonable efforts to have the registration declared effective as soon as practicable, but in no event later than 90 days after the filing date. We will be subject to certain monetary penalties, as set forth in the Registration Rights Agreement, if the registration statement is not filed, does not become effective on a timely basis, or does not remain available for the resale (subject to certain allowable grace periods) of the Registrable Securities, as such term is defined in the Registration Rights Agreement.

Also in connection with the Private Placement, certain stockholders of ours have executed Lock-Up Agreements, pursuant to which they have agreed not to sell any shares of our common stock until the later of (i) six months following the issuance of the Debentures or (ii) 90 days following the effectiveness of a resale registration statement filed pursuant to the requirements of the Registration Rights Agreement.

Amendment to Certificate of Designation of Series C Preferred Stock

On August 22, 2016, the Company amended the terms of the Series C Preferred Stock. The amendment provided that the Series C Preferred Stock is no longer convertible into common stock by its terms (though the Series C Preferred Stock held by Mr. Sillerman remains subject to the Exchange Agreement described above) and is no longer redeemable by holder five years after issuance. As amended, the rights, preferences, privileges and restrictions of the shares of Series C Preferred Stock and the qualifications, limitations and restrictions thereof are summarized as follows:

• The shares of Series C Convertible Redeemable Preferred Stock have a stated value of $1,000 per share.

• Each holder of a share of Series C Convertible Redeemable Preferred Stock shall be entitled to receive dividends (“Dividends”) on such share equal to twelve percent (12%) per annum (the “Dividend Rate”) of the Stated Value before any Dividends shall be declared, set apart for or paid upon any junior stock or parity stock. Dividends on a share of Series C Preferred Stock shall accrue daily at the Dividend Rate, commence accruing on the issuance date thereof, compound annually, be computed on the basis of a 360-day year consisting of twelve 30-day months and be convertible into common stock in connection with the conversion of such share of Series C Preferred Stock.

• The Company may redeem any or all of the outstanding Series C Preferred Stock at any time at the then current Stated Value plus accrued Dividends thereon plus a redemption premium equal to the Stated Value multiplied by 6%. However, no premium shall be due on the use of up to 33% of proceeds of a public offering of common stock at a price of $5.00 or more per share.

• The shares of Series C Preferred Stock are senior in liquidation preference to all shares of capital stock of the Company unless otherwise consented to by a majority of the holders of shares of Series C Preferred Stock.

• The shares of Series C Preferred Stock shall have no voting rights except as required by law.

• The consent of the holders of a majority of the shares of Series C Preferred Stock is necessary for the Company to amend the Series C certificate of designation.

The Series C Preferred Stock is no longer convertible into common stock, except in accordance with the Exchange Agreement.

Shareholder Approval

Pursuant to the Information Statement on Form 14C filed by the Company on August 19, 2016, the holder of a majority of the Company's issued and outstanding shares has authorized the issuance of shares for the following transactions:

• A recapitalization plan involving the conversion of $34,800 of debt held by SIC III, SIC IV and SIC VI, each an affiliate of the Company’s Chairman and Chief Executive Officer and the conversion of 3,000 shares of the Company’s Series C Preferred Stock into up to 21,739,892 shares of the Company’s common stock;

• The issuance of up to 3,722,224 shares of common stock issuable upon the conversion of debentures and warrants issued in connection with a private placement of convertible debentures;

• The issuance of up to 9,484,691 shares of common stock upon the conversion of shares of our outstanding Series E Convertible Preferred Stock and convertible notes issued to Rant, Inc.; and

• The issuance of up to 470,247 shares of common stock pursuant to an agreement with MGT Sports, Inc. to retire the debt owed by the Company to MGT Sports, Inc. by converting such debt into common stock of the Company.

Such approval became effective on behalf of the Company's shareholders on September 15, 2016.

As a result, there could be dilution of our shareholders if those conversions are effectuated. Mr. Sillerman now has voting control of the Company and, to the extent he also converts in accordance with his exchange agreements, he will remain majority shareholder.

In addition, as set forth in the Information Statement, the majority shareholder also authorized the Board of Directors to effectuate the Reverse Stock Split (see below.)

MGT Note

On October 10, 2016, the Company satisfied the MGT Note through the issuance of 136,304 shares of its common stock and payment of interest of $16.

Reverse Stock Split

On September 16, 2016, the Company effected a reverse stock split (the "Reverse Stock Split") whereby shareholders are entitled to receive one share for each 20 shares of common stock of the Company. Shareholders entitled to a fractional share will receive cash in lieu of fractional shares. As a result of the Reverse Stock Split, the Company has 3,023,701 shares of common stock outstanding as of September 16, 2016. The Reverse Stock Split was approved by the Company’s Board of Directors on September 9, 2016, in part, to enable the Company to regain and maintain compliance with the minimum closing bid price of $1.00 per share for continued listing on NASDAQ. 

Potential NASDAQ Delisting

On August 26, 2016, Company received formal notification from NASDAQ indicating that, but for the $1.00 bid price requirement, the Company has demonstrated compliance with all requirements for continued listing on NASDAQ including the $2,500 stockholders’ equity requirement. As previously disclosed, the NASDAQ Hearings Panel required that the Company, on or before August 22, 2016, make a public filing with the SEC indicating that it had regained compliance with the minimum stockholders’ equity requirement, among other things. The Company had until September 30, 2016 to have its common stock meet such minimum. As a result of the reverse 1 for 20 stock split effectuated on September 16, 2016, trading in such stock has met the NASDAQ $1.00 minimum bid price requirement and the Company believes confirmation from NASDAQ should be forthcoming shortly.

Legal Proceedings

On September 9, 2016, CFGI, LLC, a former provider of consulting services to the Company, has filed suit in the New York County Supreme Court to collect approximately $200 owed by the Company to CFGI. The Company intends to defend its interests in this matter. Settlement discussions are underway.

A Complaint (Index #654984/2016) was filed by Andy Mule, on behalf of himself and others similarly situated, in the Supreme Court of the State of New York. The Complaint, which names the Company, each of its current directors, and President, as a former director, as defendants, claims a breach of fiduciary duty relating to the terms of a proposed conversion of debt and preferred shares into common equity by Mr. Sillerman and/or his affiliates. The Complaint seeks unspecified damages and such relief as the Court may deem appropriate. The Company accepted service on October 4, 2016, and has agreed to respond by November 14, 2016. The Company believes that this claim is without merit.

Appointment of President and Chief Operating Officer

On August 1, 2016, the Company entered into an employment agreement with Birame Sock, who has become the Company’s President and Chief Operating Officer.

Appointment of Chief Financial Officer

On July 5, 2016, the Company entered into an employment agreement with Michelle Lanken, who has become the Company’s Chief Financial Officer.

Sale of Perk, Inc. Shares

On September 30, 2016, the Company sold to Perk the remaining shares (1,013,068) of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. The execution of the Securities Purchase Agreement and closing were simultaneous.

Additional Investment in DraftDay Gaming Group, Inc.

Since July 1, 2016 and through October 11, 2016, in accordance with the Series A Preferred Stock agreement, the Company transferred an additional $144 tothe DDGG subsidiary.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Accounting Policies [Abstract]

Cash and Cash Equivalents and Restricted Cash

The Company considers all highly liquid securities purchased with original maturities of 90 days or less to be cash equivalents.  Cash equivalents are stated at cost which approximates market value and primarily consists of money market funds that are readily convertible into cash.  Restricted cash comprises amounts held in deposit that were required as collateral under leases of office space.

The Company considers all highly liquid securities purchased with original maturities of 90 days or less to be cash equivalents.  Cash equivalents are stated at cost which approximates market value and primarily consists of money market funds that are readily convertible into cash.  Restricted cash comprises amounts held in deposit that were required as collateral under the lease of office space and security interest held by Deutsche Bank Trust Company Americas in connection with the Company's debt agreement more fully described in Note 9, Loans Payable.

Marketable Securities

In February 2016, the Company received 1,370,000 shares of Perk's stock, which is publicly traded on the Toronto Stock Exchange, as part of the consideration in the sale of assets described in the Perk Agreement. These securities are short-term marketable securities, and have been classified as “available-for-sale” securities. Pursuant to Accounting Standards Codification ("ASC") 320-10, “Investments - Debt and Equity Securities” the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss.

These securities are short-term marketable securities, and have been classified as “available-for-sale” securities. Pursuant to ASC 320-10, “Investments - Debt and Equity Securities” the Company's marketable securities are marked to market on a quarterly basis, with unrealized gains and losses recorded in equity as Other Comprehensive Income/Loss.

Accounts Receivable

Accounts receivable are recorded net of an allowance for doubtful accounts. The Company's allowance for doubtful accounts is based upon historical loss patterns, the number of days that the billings are past due and an evaluation of the potential risk associated with delinquent accounts. The Company also considers any changes to the financial condition of its customers and any other external market factors that could impact the collectability of its receivables in the determination of its allowance for doubtful accounts.

Accounts receivable are recorded net of an allowance for doubtful accounts. The Company's allowance for doubtful accounts is based upon historical loss patterns, the number of days that the billings are past due and an evaluation of the potential risk associated with delinquent accounts. The Company also considers any changes to the financial condition of its customers and any other external market factors that could impact the collectability of its receivables in the determination of its allowance for doubtful accounts.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with domestic financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of such institutions.

The Company performs ongoing credit evaluations of customers to assess the probability of accounts receivable collection based on a number of factors, including past transaction experience with the customer, evaluation of their credit history, and review of the invoicing terms of the contract. The Company generally does not require collateral. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary.

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with domestic financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of such institutions.

The Company performs ongoing credit evaluations of customers to assess the probability of accounts receivable collection based on a number of factors, including past transaction experience with the customer, evaluation of their credit history, and review of the invoicing terms of the contract. The Company generally does not require collateral. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary.

Fair Value of Financial Instruments

The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts and other receivables, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The carrying amount of Perk marketable securities held is marked-to-market on a quarterly basis using the closing day share price of the last business day of the quarter. The changes to fair value are recorded in Other Comprehensive Income/Loss.  The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model. The changes to fair value are recorded in the Consolidated Statement of Operations. The carrying amount of loans payable approximates fair value as current borrowing rates for the same, or similar issues, are the same as those that were given to the Company at the issuance of these loans.

The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents, accounts and other receivables, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The carrying amount of Perk marketable securities held is marked-to-market on a quarterly basis using the closing day share price of the last business day of the quarter. The changes to fair value are recorded in Other Comprehensive Income/Loss.  The carrying amount of Perk warrants held is marked-to-market on a quarterly basis using the Monte Carlo valuation model. The changes to fair value are recorded in the Consolidated Statement of Operations. The carrying amount of loans payable approximates fair value as current borrowing rates for the same, or similar issues, are the same as those that were given to the Company at the issuance of these loans.

Property and Equipment

Property and equipment (consisting primarily of computers, software, furniture and fixtures, and leasehold improvements) is recorded at historical cost and is depreciated using the straight-line method over their estimated useful lives.  The useful life and depreciation method are reviewed periodically to ensure that they are consistent with the anticipated pattern of future economic benefits.  Expenditures for maintenance and repairs are charged to operations as incurred, while betterments are capitalized. Gains and losses on disposals are included in the results of operations.  The estimated useful lives of the Company's property and equipment is as follows: computer equipment and software: 3 years; furniture and fixtures: 4 years; and leasehold improvements: the lesser of the lease term or life of the asset.

Property and equipment (consisting primarily of computers, software, furniture and fixtures, and leasehold improvements) is recorded at historical cost and is depreciated using the straight-line method over their estimated useful lives.  The useful life and depreciation method are reviewed periodically to ensure they are consistent with the anticipated pattern of future economic benefits.  Expenditures for maintenance and repairs are charged to operations as incurred, while betterments are capitalized. Gains and losses on disposals are included in the results of operations.  The estimated useful lives of the Company's property and equipment is as follows: computer equipment and software: 3 years; furniture and fixtures: 4 years; and leasehold improvements: the lesser of the lease term or life of the asset.

Business Combinations

Business combinations are accounted for using the acquisition method of accounting. The Company allocates the purchase price of acquired companies to the identifiable assets acquired, liabilities assumed and any non-controlling interest based on their acquisition date estimated fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the identifiable assets acquired and liabilities assumed.  Any contingent consideration to be transferred to the acquiree is recognized at fair value at the acquisition date.

Determining the fair value of assets acquired and liabilities assumed requires the Company to make significant estimates and assumptions, including assumptions related to future cash flows, discount rates, asset lives and the probability of future cash pay-outs related to contingent consideration. The estimates of fair value are based upon assumptions believed to be reasonable by management, but are inherently uncertain and unpredictable and, therefore, actual results may differ from estimates. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company's reporting units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative fair values of the disposed operation and the portion of the reporting units retained.

Business combinations are accounted for using the acquisition method of accounting. The Company allocates the purchase price of acquired companies to the identifiable assets acquired, liabilities assumed and any non-controlling interest based on their acquisition date estimated fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the identifiable assets acquired and liabilities assumed.  Any contingent consideration to be transferred to the acquiree is recognized at fair value at the acquisition date.

Determining the fair value of assets acquired and liabilities assumed requires the Company to make significant estimates and assumptions, including assumptions related to future cash flows, discount rates, asset lives and the probability of future cash pay-outs related to contingent consideration. The estimates of fair value are based upon assumptions believed to be reasonable by management, but are inherently uncertain and unpredictable and, therefore, actual results may differ from estimates. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company's reporting units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Where goodwill has been allocated to a reporting unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the reporting units retained.

Goodwill and Certain Other Long-Lived Assets

As required by ASC 350, "Goodwill and Other Intangible Assets", the Company tests goodwill for impairment during the fourth quarter of its fiscal year. Goodwill is not amortized, but instead tested for impairment at the reporting unit level at least annually and more frequently upon occurrence of certain events. As noted above, the Company has three reporting units. The annual goodwill impairment test is a two step process. First, the Company determines if the carrying value of its reporting unit exceeds fair value, which would indicate that goodwill may be impaired. If the Company then determines that goodwill may be impaired, it compares the implied fair value of the goodwill to its carry amount to determine if there is an impairment loss.

Historically, the Company had one reporting unit. However, in connection with the sale of a significant portion of the Company's assets (see Note 1, Basis of Presentation and Consolidation), the remaining operations were divided into three reporting units (see Note 4, Segments). The Company engaged a third-party valuation firm to test the Choose Digital and Wetpaint reporting units for goodwill impairment. The DDGG reporting unit was not tested for impairment at December 31, 2015 as the acquisition of this entity occurred in September 2015. The Company determined that the fair value of both of the Wetpaint and Choose Digital reporting units were significantly below their respective carrying values, indicating that goodwill related to these reporting units may be impaired. The Company determined the fair value of all long-lived assets other than goodwill related to each reporting unit and calculated the residual goodwill value for each. Upon comparing the residual goodwill values to the respective carrying values, the Company determined that there was an impairment loss on both the Choose Digital and Wetpaint reporting units.

The Company recorded an impairment loss of $4,335 related to the Choose Digital reporting unit and $10,708 related to the Wetpaint reporting unit during the three months ended December 31, 2015. Upon the finalization of the December 31, 2015 Choose Digital and Wetpaint goodwill impairment analysis, the consolidated goodwill ending balances as of March 31, 2016 were adjusted by $3,350 at June 30, 2016. The Company also recorded an additional goodwill impairment loss of $1,672 in the Selling, general and administrative expense line and reduced the gain on the sale of the Viggle Business by $1,672 in the Consolidated Statement of Operations during the nine months ended March 31, 2016 as a result of the finalization of the December 2015 Choose Digital and Wetpaint impairment analysis. There were no impairments recorded during the three months ended September 30, 2016.

At June 30, 2016, the Company determined that the fair value of the DDGG reporting unit was significantly below its carrying value, indicating that goodwill may be impaired. The Company determined the fair value of all long-lived assets other than goodwill and calculated the residual goodwill for the reporting unit. The residual goodwill was higher than the carrying value of goodwill related to the DDGG reporting unit, therefore the Company did not record an impairment loss for DDGG goodwill during the year ended June 30, 2016.

Other Long-Lived Assets

The Company accounts for the impairment of long-lived assets other than goodwill in accordance with ASC 360, “Property, Plant, and Equipment” ("ASC 360"), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets.  ASC 360 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets (fair value) are less than the assets' carrying amounts.  In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets.  Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal.  

As required by Accounting Standards Codification (“ASC”) 350, "Goodwill and Other Intangible Assets", the Company tests goodwill for impairment during the fourth quarter of its fiscal year. Goodwill is not amortized, but instead tested for impairment at the reporting unit level at least annually and more frequently upon occurrence of certain events. As noted above, the Company has three reporting units. The annual goodwill impairment test is a two step process. First, the Company determines if the carrying value of its reporting unit exceeds fair value, which would indicate that goodwill may be impaired. If the Company then determines that goodwill may be impaired, it compares the implied fair value of the goodwill to its carrying amount to determine if there is an impairment loss.

Historically, the Company had one reporting unit. However, in connection with the sale of a significant portion of the Company's assets (see Note 1, Basis of Presentation and Consolidation), the remaining operations were divided into 3 reporting units (see Note 4, Segments). The Company engaged a third-party valuation firm to test the Choose Digital and Wetpaint reporting units for goodwill impairment. The DDGG reporting unit was not tested for impairment at December 31, 2015 as the acquisition of this entity occurred in September 2015. The Company determined that the fair value of both of the Wetpaint and Choose Digital reporting units were significantly below their respective carrying values, indicating that goodwill related to these reporting units may be impaired. The Company determined the fair value of all long-lived assets other than goodwill related to each reporting unit and calculated the residual goodwill value for each. Upon comparing the residual goodwill values to the respective carrying values, the Company determined that there was an impairment loss on both the Choose Digital and Wetpaint reporting units. As a result, the Company recorded an impairment loss of $4,335 related to the Choose Digital reporting unit and $10,708 related to the Wetpaint reporting unit in the Selling, general and administrative expense line of the Consolidated Statements of Operations during the six months ended December 31, 2015. Upon the finalization of the December 31, 2015 Choose Digital and Wetpaint goodwill impairment analysis, the consolidated goodwill ending balances as of March 31, 2016 were adjusted by $3,350 at June 30, 2016. The Company also recorded an additional goodwill impairment loss of $1,672 in the Selling, general and administrative expense line and reduced the gain on the sale of the Viggle Business by $1,672 in the Consolidated Statement of Operations during the nine months ended March 31, 2016 as a result of the finalization of the December 2015 Choose Digital and Wetpaint impairment analysis. There were no other impairments of goodwill related to the Choose Digital or Wetpaint reporting units recorded during the year ended June 30, 2016.

At June 30, 2016, the Company determined that the fair value of the DDGG reporting unit was significantly below its carrying value, indicating that goodwill may be impaired. The Company determined the fair value of all long-lived assets other than goodwill and calculated the residual goodwill for the reporting unit. The residual goodwill was higher than the carrying value of goodwill related to the DDGG reporting unit, therefore the Company did not record an impairment loss for DDGG goodwill during the year ended June 30, 2016.

There were no impairments to goodwill recorded during the year ended June 30, 2015.

Other Long-Lived Assets

The Company accounts for the impairment of long-lived assets other than goodwill in accordance with ASC 360, “Property, Plant, and Equipment” ("ASC 360"), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets.  ASC 360 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts.  In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets.  Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal.  

At June 30, 2015, the Company determined that certain intangible assets related to the acquisition of Choose Digital were impaired. Due to a shift in the Company's business operations and utilization of its resources, during the fourth quarter of fiscal 2015, the Company determined that intangible assets related to customer relationships and trade name no longer had value. Therefore, such assets were written off as of June 30, 2015.

Capitalized Software

The Company records amortization of acquired software on a straight-line basis over the estimated useful life of the software.  

In addition, the Company records and capitalizes internally generated computer software and, appropriately, certain internal costs have been capitalized in the amount of $1,498 as of September 30, 2016 and $1,498 as of June 30, 2016, in accordance with ASC 350-40 "Internal-use Software".  At the time software is placed into service, the Company records amortization on a straight-line basis over the estimated useful life of the software. The change in capitalized software is due to impairment of long-term assets related to the Choose Digital and Wetpaint businesses described earlier, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs.

The Company records amortization of acquired software on a straight-line basis over the estimated useful life of the software.  

In addition, the Company records and capitalizes internally generated computer software and, appropriately, certain internal costs have been capitalized in the amounts of $1,498 and $1,610 as of June 30, 2016 and June 30, 2015, respectively, in accordance with ASC 350-40, "Internal-use Software".  Once software is placed into service, the Company records amortization on a straight-line basis over the estimated useful life of the software. The change in capitalized software is due to impairment of long-term assets related to Choose Digital and Wetpaint businesses described earlier, as well as the abandonment of certain technology as of January 1, 2016, and internal development costs.

Deferred Rent

The Company leases its corporate office, and as part of the lease agreement the landlord provided a rent abatement for the first 10 months of the lease. In 2014, the Company entered into two lease agreements for its satellite offices which provided for tenant improvement work sponsored by the landlords. The abatement and landlord sponsored improvements have been accounted for as a reduction of rental expense over the life of the lease. The Company accounts for rental expense on a straight-line basis over the entire term of the lease. Deferred rent is equal to the cumulative timing difference between actual rent payments and recognized rental expense.

The Company currently leases office space for its corporate office, and as part of the lease agreement the landlord provided a rent abatement for the first 10 months of the lease. In 2014, the Company entered into two lease agreements for its satellite offices which provided for tenant improvement work sponsored by the landlords. The abatement and landlord sponsored improvements have been accounted for as a reduction of rental expense over the life of the lease. The Company accounts for rental expense on a straight line basis over the entire term of the lease. Deferred rent is equal to the cumulative timing difference between actual rent payments and recognized rental expense.

Revenue Recognition

The Company recognizes revenue when: (1) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. For all revenue transactions, the Company considers a signed agreement, a binding insertion order or other similar documentation to be persuasive evidence of an arrangement.

Advertising Revenue: the Company generates advertising revenue primarily from third-party advertising via real-time bidding, which is typically sold on a per impression basis. 

Deferred Revenue:  deferred revenue consists principally of prepaid but unrecognized revenue.  Deferred revenue is recognized as revenue when the services are provided and all other revenue recognition criteria have been met.

Barter Revenue: barter transactions represent the exchange of advertising or programming for advertising, merchandise or services. Barter transactions which exchange advertising for advertising are accounted for in accordance with Emerging Issues Task Force Issue No. 99-17 "Accounting for Advertising Barter Transactions" (ASC Topic 605-20-25). Such transactions are recorded at the fair value of the advertising provided based on the Company's own historical practice of receiving cash for similar advertising from buyers unrelated to the counter party in the barter transactions. Barter transactions which exchange advertising or programming for merchandise or services are recorded at the monetary value of the revenue expected to be realized from the ultimate disposition of merchandise or services.

The Company recognizes revenue when: (1) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. For all revenue transactions, the Company considers a signed agreement, a binding insertion order or other similar documentation to be persuasive evidence of an arrangement.

Advertising Revenue: the Company generates advertising revenue primarily from third-party advertising via real-time bidding, which is typically sold on a per impression basis. 

Deferred Revenue:  deferred revenue consists principally of prepaid but unrecognized revenue.  Deferred revenue is recognized as revenue when the services are provided and all other revenue recognition criteria have been met.

Barter Revenue: barter transactions represent the exchange of advertising or programming for advertising, merchandise or services. Barter transactions which exchange advertising for advertising are accounted for in accordance with Emerging Issues Task Force Issue No. 99-17 "Accounting for Advertising Barter Transactions" (ASC Topic 605-20-25). Such transactions are recorded at the fair value of the advertising provided based on the Company's own historical practice of receiving cash for similar advertising from buyers unrelated to the counter party in the barter transactions. Barter transactions which exchange advertising or programming for merchandise or services are recorded at the monetary value of the revenue expected to be realized from the ultimate disposition of merchandise or services.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718").  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period.  The Company uses the Black-Scholes option pricing model to determine the fair value of stock options and warrants issued.  Stock-based awards issued to date are comprised of both restricted stock awards (RSUs) and employee stock options.

The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718").  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period.  The Company uses the Black-Scholes option pricing model to determine the fair value of stock options and warrants issued.  Stock-based awards issued to date are comprised of both restricted stock awards (RSUs) and employee stock options.

Marketing

Marketing costs are expensed as incurred.

Marketing costs are expensed as incurred. 

Income Taxes

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, "Income Taxes" ("ASC 740").  Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse.  A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.  The Company assesses its income tax positions and record tax benefits for all years subject to examination based upon the Company's evaluation of the facts, circumstances and information available at the reporting date.  In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information.  For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, "Income Taxes" ("ASC 740").  Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse.  A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.  The Company assesses its income tax positions and record tax benefits for all years subject to examination based upon the Company's evaluation of the facts, circumstances and information available at the reporting date.  In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information.  For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

Comprehensive Loss

In accordance with ASC 220, "Comprehensive Income", the Company reports by major components and as a single total, the change in its net assets during the period from non-owner sources. Comprehensive income consists of net income (loss), accumulated other comprehensive income (loss), which includes certain changes in equity that are excluded from net income (loss). The Company’s comprehensive loss for all periods presented is related to the effect of unrealized gain on available for sale marketable securities.

In accordance with ASC 220, "Comprehensive Income", the Company reports by major components and as a single total, the change in its net assets during the period from non-owner sources. Comprehensive income consists of net income (loss), accumulated other comprehensive income (loss), which includes certain changes in equity that are excluded from net income (loss). The Company’s comprehensive loss for all periods presented is related to the effect of an unrealized loss on available for sale marketable securities.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.  These estimates include, among others, fair value of financial assets and liabilities, net realizable values on long-lived assets, certain accrued expense accounts, and estimates related to stock-based compensation.  Actual results could differ from those estimates.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. These estimates include, among others, fair value of financial assets and liabilities, net realizable values on long-lived assets, certain accrued expense accounts, and estimates related to stock-based compensation. Actual results could differ from those estimates.

Recently Issued Accounting Pronouncements

In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-16, “Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory” (ASU 2016-16”). This update eliminates the exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. ASU 2016-16 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In May 2016, FASB issued Accounting Standards Update 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients" ("ASU 2016-12"). The amendments in this update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which is not yet effective. This update focuses on improving several aspects of ASU 2014-09, such as assessing the collectability criterion in paragraph 606-10-25-1(e) and accounting for contracts that do not meet the criteria for step 1; presentation of sales taxes and other similar taxes collected from customers; noncash consideration; contract modifications at transition; and completed contracts at transition. ASU 2016-12 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In April 2016, the FASB issued Accounting Standards Update 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" ("ASU 2016-10"). The amendments in this update affect the guidance in ASU 2014-09, which is not yet effective. This update focuses on clarifying the following two aspects of ASU 2014-09: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. ASU 2016-10 is effective for financial statements issued for annual periods beginning after December 15, 2017. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-09,

Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU

2016-09"). This update is intended to improve the accounting for employee share-based payments and affects all organizations

that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award

transactions are simplified, including:(a)income tax consequences;(b)classification of awards as either equity or liabilities; and(c) classification on the statement of cash flows. ASU 2016-09 is effective for financial statements issued for annual periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-09 on its financial statements.

In February 2016, FASB issued Accounting Standards Update No. 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02

requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a

lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a

right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease

term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. ASU 2016-02 is effective for financial statements issued for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-02 on its financial statements.

In January 2016, FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments- Overall: Recognition

and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). Additionally, it requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. Lastly, the standard eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In November 2015, FASB issued Accounting Standards Update No. 2015-17, “Income taxes: Balance Sheet Classification

of Deferred Taxes Business” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax

liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities

and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In September 2015, the FASB issued Accounting Standard Update No. 2015-16, Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). This standard requires that an acquirer retrospectively adjust provisional amounts recognized in a business combination, during the measurement period. To simplify the accounting for adjustments made to provisional amounts, the amendments in the ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is required to also record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date.  In addition an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017 (July 1, 2017 for the Company). The Company does not believe that the adoption of ASU 2015-16 will have a material impact on its consolidated financial statements.

In May 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients" ("ASU 2016-12"). The amendments in this update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which is not yet effective. This update focuses on improving several aspects of ASU 2014-09, such as assessing the collectability criterion in paragraph 606-10-25-1(e) and accounting for contracts that do not meet the criteria for step 1; presentation of sales taxes and other similar taxes collected from customers; noncash consideration; contract modifications at transition; and completed contracts at transition. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In April 2016, the FASB issued Accounting Standards Update 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" ("ASU 2016-10"). The amendments in this update affect the guidance in ASU 2014-09, which is not yet effective. This update focuses on clarifying the following two aspects of ASU 2014-09: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In March 2016, FASB issued Accounting Standards Update No. 2016-09, "Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"). This update is intended to improve the accounting for employee share-based payments and affects all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including:(a)income tax consequences;(b)classification of awards as either equity or liabilities; and(c) classification on the statement of cash flows. ASU 2016-09 is effective for financial statements issued for annual periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-09 on its financial statements.

In February 2016, FASB issued Accounting Standards Update No. 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. ASU 2016-02 is effective for financial statements issued for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption of ASU 2016-02 on its financial statements.

In January 2016, FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments- Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). Additionally, it requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. Lastly, the standard eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In November 2015, FASB issued Accounting Standards Update No. 2015-17, “Income taxes: Balance Sheet Classification of Deferred Taxes Business” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect the standard to have a material impact on its consolidated financial statements.

In September 2015, the FASB issued Accounting Standard Update No. 2015-16, "Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments" ("ASU 2015-16"). This standard requires that an acquirer retrospectively adjust provisional amounts recognized in a business combination, during the measurement period. To simplify the accounting for adjustments made to provisional amounts, the amendments in the ASU 2015-16 require that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is required to also record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date.  In addition an entity is required to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017 (July 1, 2017 for the Company). The Company does not believe that the adoption of ASU 2015-16 will have a material impact on its consolidated financial statements.

XML

Segments (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Segment Reporting [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments

Information about reportable segments:

	For The Year Ended June 30,
	Wetpaint						Choose Digital						DDGG					Total
In thousands of U.S. dollars	2016			2015			2016			2015			2016			2015		2016			2015
External revenues	$	1,533		$	3,454		$	664		$	848		$	528		$	—	$	2,725		$	4,302
Inter-segment revenues (1)	—			—			1,285			855			—			—		1,285			855
Net loss, net of income taxes (2)	(27,560		)	(8,747		)	(7,621		)	(6,744		)	(5,194		)	—		(40,375		)	(15,491		)
Notes:
(1) In September 2014, the Choose Digital business began providing digital content to the Viggle business. These inter-segment revenues are presented at Choose Digital's cost in this schedule and in the consolidated statements of operations.
(2) The net loss figures presented exclude certain corporate expenses detailed in the reconciliation to the consolidated net loss below.

Schedule of Segment Reporting Information, by Segment

Information about reportable segments:

	Three Months Ended September 30,
	Wetpaint				Choose Digital				DDGG			Total
	2016		2015		2016		2015		2016		2015	2016		2015
External revenues	371		516		58		198		105		83	534		797
Inter-segment revenues (1)	—		—						—		—	—		—
Net loss, net of income taxes (2)	(2,077	)	(1,857	)	(401	)	(484	)	(752	)	26	(3,230	)	(2,315	)
Notes:
(1) The Choose Digital business provides digital content to the Viggle business. These inter-segment revenues are presented at Choose Digital's cost in this schedule and in the consolidated statements of operations.
(2) The net loss figures presented exclude certain corporate expenses detailed in the reconciliation to the consolidated net loss below.
(3) Assets and liabilities are not presented as they are reviewed at the consolidated level by management and not accounted for by segment.

Reconciliation of revenues attributable to reportable segments to consolidated revenues from continuing operations:

	Three Months Ended September 30,
	2016		2015
Revenues attributable to reportable segments	$	534	$	797
Licensing revenues related to SFX licensing agreement	125		125
Other revenues	—		—
Revenues per Consolidated Statements of Operations	$	659	$	922

Reconciliation of net loss for reportable segments, net of income taxes to consolidated net loss from continuing operations, net of income taxes:

	Three Months Ended September 30,
	2016		2015
Net loss for reportable segments, net of income taxes	(3,230	)	(2,315	)
Other net gain (loss)	(2,478	)	—
	(5,708	)	(2,315	)
Stock compensation related to corporate financing activities (1)	—		(4,250	)
Corporate expenses allocated to discontinued operations (2)	(158	)	(211	)
Interest expense (3)	(1,651	)	(856	)
Consolidated net loss from continuing operations, net of income taxes	(7,517	)	(7,632	)
Notes:
(1) Stock compensation expense related to RSUs, options and warrants issues in connection with financing activities. Expenses related to financing activities are considered to be corporate expenses and are not allocated to reportable segments.
(2) Certain corporate expenses were allocated to the Viggle segment, however such expenses are not classified as discontinued operations because they are fixed and are not affected by the sales transaction.
(3) Interest expense related to corporate debt instruments is not allocated to reportable segments.

Total assets for reportable segments:

	September 30, 2016
	Wetpaint		Choose Digital		DDGG		Total
Total assets for reportable segments	$	21,740	$	5,273	$	4,021	$	31,034

	June 30, 2016
	Wetpaint		Choose Digital		DDGG		Total
Total assets for reportable segments	$	8,495	$	5,416	$	3,740	$	17,651

Reconciliation of assets attributable to reportable segments to consolidated assets of continuing operations:

	September 30, 2016		June 30, 2016
Total assets for reportable segments	$	31,034	$	17,651
Other assets (1)	2,016		5,349
Total consolidated assets, net of current and non-current assets of discontinued operations	$	33,050	$	23,000
Notes:
(1) Corporate assets that are not specifically related to any of the reporting units.

Reconciliation of revenues attributable to reportable segments to consolidated revenues from continuing operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016		2015
Revenues attributable to reportable segments	$	4,010	$	5,157
Licensing revenues related to SFX licensing agreement	499		507
Other revenues	—		10
Revenues per Consolidated Statements of Operations	$	4,509	$	5,674

Reconciliation of net loss for reportable segments, net of income taxes to consolidated net loss from continuing operations, net of income taxes:

In thousands of U.S. dollars	Year Ended June 30, 2016			Year Ended June 30, 2015
Net loss for reportable segments, net of income taxes	$	(40,375	)	$	(15,491	)
Other net loss	(72		)	(659		)
	(40,447		)	(16,150		)
Stock compensation related to corporate financing activities (1)	(11,017		)	(21,141		)
Corporate expenses, net allocated to discontinued operations (2)	(1,915		)	(3,262		)
Interest expense, net (3)	(3,788		)	(2,050		)
Loss on contingent consideration (4)	—			(2,222		)
Corporate financing expenses	—			(702		)
Consolidated net loss from continuing operations, net of tax	$	(57,167	)	$	(45,527	)
Notes:
(1) Stock compensation expense related to RSUs, options and warrants issued in connection with financing activities. Expenses related to financing activities are considered to be corporate expenses and are not allocated to reportable segments.
(2) Certain corporate expenses were allocated to the Viggle business, however such expenses are not classified as discontinued operations because they are fixed and are not affected by the sales transaction.
(3) Interest expense related to corporate debt instruments is not allocated to reportable segments.
(4) Contingent consideration loss related to Choose Digital (see Note 6, Acquisitions).

Total assets for reportable segments:

	June 30,
	Wetpaint				Choose Digital				DDGG				Total
In thousands of U.S. dollars	2016		2015		2016		2015		2016		2015		2016		2015
Total assets for reportable segments	$	8,495	$	35,272	$	5,416	$	10,587	$	3,740	$	—	$	17,651	$	45,859

Reconciliation of assets attributable to reportable segments to consolidated assets of continuing operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Total assets for reportable segments	$	17,651	$	45,859
Other assets (1)	5,349		8,723
Total consolidated assets, net of current and non-current assets of discontinued operations	$	23,000	$	54,582
Notes:
(1) Corporate assets that are not specifically related to any of the reporting units.

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Discontinued Operations (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Results of operations classified as discontinued operations:

	Three Months Ended September 30,
	2016			2015
Revenues	$	—		$	4,130
Cost of watchpoints and engagement points	—			(2,022		)
Selling, general and administrative expenses	(36		)	(7,866		)
Loss before income taxes	(36		)	(5,758		)
Income taxes (see Note 13, Income Taxes)	—			(22		)
Net loss	$	(36	)	$	(5,780	)

Current assets and non-current assets used in discontinued operations:

	September 30, 2016		June 30, 2016
Current assets:
Accounts receivable, net	$	20	$	39
Prepaid expenses	—		—
Current assets of discontinued operations	$	20	$	39
Non-current assets:
Property and equipment, net	$	—	$	—
Intangible assets, net	—		—
Goodwill	—		—
Other assets	—		—
Non-current assets of discontinued operations	$	—	$	—

Current liabilities and non-current liabilities used in discontinued operations:

	September 30, 2016		June 30, 2016
Current liabilities:
Accounts payable and accrued expenses	$	2,609	$	2,634
Reward points payable			—
Current portion of loan payable	221		217
Current liabilities of discontinued operations	$	2,830	$	2,851
Non-current liabilities:
Other long-term liabilities	$	—	$	—
Non-current liabilities of discontinued operations	$	—	$	—

Results of operations classified as discontinued operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016			2015
Revenues	$	5,321		$	19,852
Cost of watch points and engagement points	(3,416		)	(9,574		)
Selling, general and administrative expenses	(12,553		)	(43,203		)
Operating loss	(10,648		)	(32,925		)
Other expense:
Other income, net	4,169			—
Total other expense, net	4,169			—
Net loss before provision for income taxes	(6,479		)	(32,925		)
Income tax expense	(43		)	(87		)
Net loss from discontinued operations, net of tax	$	(6,522	)	$	(33,012	)

Schedule of Cash Flows from Discontinued Operations

Cash flows used in discontinued operations:

	Year Ended June 30,
In thousands of U.S. dollars	2016			2015
Net cash used in operating activities	$	(15,998	)	$	(17,984	)
Net cash used in investing activities	—			(843		)
Net cash used in discontinued operations	$	(15,998	)	$	(18,827	)

Schedule of Assets Used In Discontinued Operations

Current assets and Non-current assets used in discontinued operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Current assets:
Accounts receivable, net	$	39	$	3,281
Prepaid expenses	—		150
Current assets of discontinued operations	$	39	$	3,431
Non-current assets:
Property and equipment, net	$	—	$	114
Intangible assets, net	—		2,630
Goodwill	—		11,111
Other assets	—		40
Non-current assets of discontinued operations	$	—	$	13,895

Schedule of Liabilities Used In Discontinued Operations

Current liabilities and Non-current liabilities used in discontinued operations:

In thousands of U.S. dollars	June 30, 2016		June 30, 2015
Current liabilities:
Accounts payable and accrued expenses	$	2,634	$	4,249
Reward points payable	—		9,029
Current portion of loan payable	217		—
Current liabilities of discontinued operations	$	2,851	$	13,278
Non-current liabilities:
Other long-term liabilities	$	—	$	538
Non-current liabilities of discontinued operations	$	—	$	538

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Acquisitions (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Business Combinations [Abstract]

Schedule of Purchase Price for Acquisition

The preliminary allocation of the purchase price to the underlying net assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date is as follows:

Goodwill	$	7,589
Intangible assets	5,500
Total liabilities	(1,990		)
	$	11,099

A summary of the fair value of consideration transferred for this acquisition and the fair value of the assets and liabilities at the date of acquisition is as follows (amounts in thousands):

Consideration transferred:
Shares of the Company's common stock on closing market price at issuance	$	1,760
Notes issued to sellers	2,250
Total consideration transferred	$	4,010
Purchase allocation:
Goodwill	$	1,591
Intangible assets	3,012
Other Assets	799
Total liabilities	(1,392		)
	$	4,010

A summary of the fair value of consideration transferred for this acquisition and the fair value of the assets and liabilities at the date of acquisition is as follows (amounts in thousands):

Consideration transferred:
Shares of Viggle common stock on closing market price at issuance	$	1,760
Notes issued to sellers	2,250
Total consideration transferred	4,010
Purchase allocation:
Goodwill	1,591
Intangible assets	3,012
Other Assets	799
Total liabilities	(1,392		)
	$	4,010

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Property and Equipment (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and Equipment consists of the following:

	September 30, 2016			June 30, 2016
Leasehold Improvements	$	2,261		$	2,261
Furniture and Fixtures	588			588
Computer Equipment	456			456
Software	164			164
Total	3,469			3,469
Accumulated Depreciation and Amortization	(2,132		)	(2,055		)
Property and Equipment, net	$	1,337		$	1,414

Property and Equipment consists of the following:

Description	June 30, 2016			June 30, 2015
Leasehold Improvements	$	2,261		$	2,886
Furniture and Fixtures	588			588
Computer Equipment	456			458
Software	164			5
Total	3,469			3,937
Accumulated Depreciation and Amortization	(2,055		)	(1,603		)
Property and Equipment, net	$	1,414		$	2,334

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Intangible Assets and Goodwill (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

		September 30, 2016										June 30, 2016
Description	Amortization Period		Amount		Accumulated Amortization				Carrying Value			Amount			Accumulated Amortization				Carrying Value
Wetpaint technology	60 months		$	4,952		$	(3,368	)		$	1,584		$	4,952		$	(3,276	)		$	1,676
Wetpaint trademarks	276 months		1,453			(427		)		1,026			1,453			(415		)		1,038
Wetpaint customer relationships	60 months		917			(832		)		85			917			(827		)		90
Choose Digital licenses	60 months		829			(574		)		255			829			(559		)		270
Choose Digital software	60 months		627			(234		)		393			627			(212		)		415
DraftDay tradename	84 months		180			(50		)		130			180			(38		)		142
Draftday non-compete agreements	6 months		30			(30		)		—			30			(30		)		—
DraftDay internally generated capitalized software	60 months		1,498			(394		)		1,104			1,498			(303		)		1,195
DraftDay customer relationships	24 months		556			(456		)		100			556			(351		)		205
Rant trademarks	120 months		2,700			(56		)		2,644			—			—				—
Rant content	24 months		650			(68		)		582			—			—				—
Rant technology	60 months		1,500			(64		)		1,436			—			—				—
Rant advertising relationships	24 months		650			(68		)		582			—			—				—
Other	various		326			(18		)		308			326			(18		)		308
Total			$	16,868		$	(6,639	)		$	10,229		$	11,368		$	(6,029	)		$	5,339

Intangible assets consist of the following:

		June 30, 2016							June 30, 2015
	Amortization			Accumulated			Carrying				Accumulated			Carrying
Description	Period	Amount		Amortization			Value		Amount		Amortization			Value
Wetpaint technology	60 months	$	4,952	$	(3,276	)	$	1,676	$	10,600	$	(2,336	)	$	8,264
Wetpaint trademarks	276 months	1,453		(415		)	1,038		5,800		(296		)	5,504
Wetpaint customer relationships	60 months	917		(827		)	90		2,000		(617		)	1,383
Wetpaint non-compete agreements	36 months	—		—			—		609		(313		)	296
Choose Digital licenses	60 months	829		(559		)	270		1,740		(355		)	1,385
Choose Digital software	60 months	627		(212		)	415		550		(112		)	438
DraftDay tradename	84 months	180		(38		)	142		—		—			—
Draftday non-compete agreements	6 months	30		(30		)	—		—		—			—
DraftDay internally generated capitalized software	60 months	1,498		(303		)	1,195		—		—			—
DraftDay customer relationships	24 months	556		(351		)	205		—		—			—
Internally generated capitalized software	36 months	—		—			—		1,610		(515		)	1,095
Other	various	326		(18		)	308		326		(8		)	318
Total		$	11,368	$	(6,029	)	$	5,339	$	23,235	$	(4,552	)	$	18,683

Future Annual Amortization Expense

Future annual amortization expense expected is as follows:

Years ending June 30,
2017	$	2,370
2018	$	3,026
2019	$	1,730
2020	$	1,367
2021	$	1,036

Future annual amortization expense expected is as follows:

Years Ending June 30	Amount
2017	$	1,194
2018	966
2019	919
2020	919
2021	670

Schedule of Goodwill

Goodwill consists of the following:

Description	Amount
Balance at July 1, 2016	$	11,270
Rant preliminary purchase price allocation	7,589
Balance at September 30, 2016	$	18,859

The activity in the goodwill balance consists of the following:

Description	Amount
Balance at June 30, 2015	$	24,722
Acquisition of DDGG	1,591
Wetpaint impairment loss	(10,708		)
Choose Digital impairment loss	(4,335		)
Balance at June 30, 2016	$	11,270

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Loans Payable (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Loans Payable and Long-Term Debt

		Total
	Maturity Date	Facility Amount		September 30, 2016		June 30, 2016
Convertible Debentures (the "Debentures"), net of discount	7/11/2017	$	4,444	$	3,155	$	—
Secured Convertible Promissory Note (the "Secured Convertible Note")	7/8/2017	3,000		3,500		—
Line of Credit Promissory Note (the "Note")	10/24/2017	20,000		—		19,716
Line of Credit Grid Note (the "Grid Note")	12/31/2016	10,000		900		4,563
Secured Line of Credit (the "Secured Revolving Loan I")	12/31/2016	1,500		—		1,500
Secured Line of Credit (the "Secured Revolving Line of Credit")	12/31/2016	500		—		500
Secured Revolving Loan (the "Secured Revolving Loan")	12/31/2016	500		—		500
Secured Revolving Loan II (the "Secured Revolving Loan II")	12/31/2016	500		—		500
Secured Revolving Loan III (the "Secured Revolving Revolving Loan III")	12/31/2016	1,200		—		135
Convertible Promissory Note (the "RI Convertible Note")	12/31/2016	300		300		300
MGT Promissory Notes (the "MGT Promissory Notes")	7/31/2016	2,109		943		943
Kuusamo Promissory Notes (the "Kuusamo Promissory Notes")	3/8/2016	141		55		55
Total Loans Payable, net				$	8,853	$	28,712

		Total		Outstanding Balances
Facility Name	Maturity Date	Facility Amount		June 30, 2016		June 30, 2015
Term Loan Agreement ("DB Line")	Retired	$	15,000	$	—	$	—
Line of Credit Promissory Note (the "Note")	10/24/2017	20,000		19,716		19,516
Unsecured Demand Loans (the "Loans")	On Demand	—		—		1,575
Line of Credit Grid Note (the "Grid Note")	12/31/2016	10,000		4,563		3,000
Secured Line of Credit (the "Secured Revolving Loan I")	12/31/2016	1,500		1,500		—
Secured Line of Credit (the "Secured Revolving Line of Credit")	12/31/2016	500		500		—
Secured Revolving Loan (the "Secured Revolving Loan")	12/31/2016	500		500		—
Secured Revolving Loan II (the "Secured Revolving Loan II")	12/31/2016	500		500		—
Secured Revolving Loan III (the "Secured Revolving Revolving Loan III")	12/31/2016	1,200		135		—
Convertible Promissory Note (the "RI Convertible Note")	12/31/2016	300		300		—
MGT Promissory Notes (the "MGT Promissory Notes")	7/31/2016	2,109		943		—
Kuusamo Promissory Notes (the "Kuusamo Promissory Notes")	3/8/2016	141		55		—
Total Loans Payable				$	28,712	$	24,091

Schedule of Long-term Debt Instruments

During the year ended June 30, 2015, Mr. Sillerman made the following demand loans (the "Loans") to the Company:

Date	Amount
December 19, 2014	$	2,000
January 14, 2015	2,000
January 30, 2015	2,000
February 13, 2015	750
February 26, 2015	1,000
March 2, 2015	1,000
March 16, 2015	3,000
April 20, 2015	1,000
May 5, 2015	500
May 14, 2015	325
Total	$	13,575

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Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The Company’s future minimum rental commitments under noncancelable operating leases are as follows (amounts are shown net of contractual sublease income):

Years Ending June 30,	Amount
2017	$	466
2018	490
2019	688
2020	729
2021	749
Thereafter	640
Total	$	3,762

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Share-Based Payments (Tables)

12 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Restricted Stock

The per share fair value of RSUs granted with service conditions was determined on the date of grant using the fair market value of the shares on that date and is recognized as an expense over the requisite service period. This information does not include RSUs granted as part of the acquisitions of Wetpaint and Choose Digital.

Description	Shares		Weighted Average Grant Date Fair Value
Nonvested at July 1, 2015	23,313		$	1,044.60
Granted	17,571		32.60
Vested	(19,138	)	944.60
Forfeited and canceled	(17,704	)	74.80
Nonvested at June 30, 2016	4,042		$	2,740.40

Schedule of Stock Options

The following table summarizes the Company's stock option activity for year ended June 30, 2016:

Description	Number of Options		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value
Outstanding at July 1, 2015	59,091		$	223.80	8.97	$	21
Granted	11,767		6.60		—	—
Exercised	—		—		—	—
Forfeited and canceled	(24,803	)	68.60		—	—
Expired	(704	)	64.40		—	—
Outstanding at June 30, 2016	45,351		238.40		8.53	—
Exercisable at June 30, 2016	41,982		$	253.00	8.53	$	—

Schedule Weighted Average Assumptions

The fair value of options granted during the years ended June 30, 2016 and 2015 were estimated based on the following weighted average assumptions:

	Year Ended June 30,
Description	2016			2015
Expected volatility	80		%	80		%
Risk-free interest rate	1.94		%	1.82		%
Expected dividend yield	—			—
Expected life (in years)	6.50			6.50
Estimated fair value per option granted	$	6.60		$	42.20

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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

US Federal Tax Rate

A reconciliation of the Company's statutory U.S. federal tax rate and its effective tax rate is as follows:

	Year Ended June 30,
Description	2016		2015
Statutory U.S. federal tax rate	35.00	%	35.00	%
State and local income taxes - net of federal benefit	10.37	%	10.37	%
Valuation allowance	(45.37	)%	(45.37	)%
Effective tax rate	—	%	—	%

Schedule of Deferred Tax Assets

The components of deferred taxes as of June 30, 2016, are as follows:

Deferred tax assets:	(in thousands)
Share-based compensation	$	92,824
Start-up expenditures	4,799
Other	2,043
Operating loss carryforward	79,476
Total deferred tax assets	179,142
Deferred tax liabilities:
Depreciation and amortization	(7,913		)
Valuation allowance	(171,229		)
Deferred tax asset, net	$	—

The components of deferred taxes as of June 30, 2015, are as follows:

Deferred tax assets:	(in thousands)
Share-based compensation	$	86,546
Start-up expenditures	5,236
Other	1,575
Operating loss carryforward	71,616
Total deferred tax asset	164,973
Deferred tax liabilities:
Depreciation and amortization	(6,156		)
Valuation allowance	(158,817		)
Deferred tax asset, net	$	—

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Fair Value Measurement (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The cost and market value of the Perk shares at June 30, 2016 were as follows:

	June 30, 2016
	Cost		Market
Current:
Perk shares	$	2,708	$	2,495
Total	$	2,708	$	2,495

Reconciliation of Items Measured at Fair Value

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2016	$	648
Unrealized losses for the period included in other income (expense), net	(503		)
Sale of Perk warrants	(145		)
Balance at September 30, 2016	$	—

As noted above, on September 30, 2016, the Company sold to Perk the remaining shares of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. In connection with the sale of the Perk shares, the warrants for additional shares and the right to the Earn-Out Shares, the Company recorded a loss of $2,193 in the Other Expense line item of the Consolidated Statements of Operations for the three months ended September 30, 2016.

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2016	$	10
Additions to Level 3	—
Balance at September 30, 2016	$	10

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):

	(in thousands)
Balance at July 1, 2015	$	—
Perk warrants	1,023
Unrealized losses for the period including in other income (expense), net	(375		)
Balance at June 30, 2016	$	648

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs: (level 3):

	(in thousands)
Balance at July 1, 2015	$	10
Additions to Level 3	—
Balance at June 30, 2016	$	10

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Basis of Presentation and Consolidation (Details) $ in Thousands					1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 16, 2016	Jul. 12, 2016 USD ($) shares	Dec. 28, 2015	Sep. 08, 2015 USD ($)	Dec. 31, 2015 operating_segment	Sep. 30, 2016 subsidiary	Jun. 30, 2016 subsidiary
Class of Stock [Line Items]
Number of subsidiaries | subsidiary						9	9
Ownership percentage						60.00%
Minority interest (more than)							4.99%
Number of reportable segments | operating_segment					3,000
Contingent consideration				$ 2,250
Common Stock
Class of Stock [Line Items]
Reverse stock split, conversion ratio	0.05		0.001
Subsequent Event | Common Stock
Class of Stock [Line Items]
Reverse stock split, conversion ratio	0.05
Rant, Inc.
Class of Stock [Line Items]
Liabilities assumed in acquisition		$ 1,990
Contingent consideration		$ 3,000
Fully diluted ownership percentage (as a percent)		22.00%
Rant, Inc. | Series E Convertible Preferred Stock
Class of Stock [Line Items]
Series E Preferred Stock issued (in shares) | shares		4,435
Rant, Inc. | Subsequent Event
Class of Stock [Line Items]
Liabilities assumed in acquisition		$ 2,000
Contingent consideration		$ 3,000
Fully diluted ownership percentage (as a percent)		22.00%
Rant, Inc. | Subsequent Event | Series E Convertible Preferred Stock
Class of Stock [Line Items]
Series E Preferred Stock issued (in shares) | shares		4,435
DDGG | Affiliated Entity
Class of Stock [Line Items]
Minority interest (more than)							49.00%

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Line of Business (Narrative) (Details) visit in Millions, fan in Millions		1 Months Ended		3 Months Ended	12 Months Ended
	Jan. 31, 2016 reporting_unit	Feb. 29, 2016 reporting_unit	Feb. 29, 2016 operating_segment	Sep. 30, 2016 fan vertical operating_segment visit	Jun. 30, 2016 reporting_unit	Jun. 30, 2016 operating_segment	Jun. 30, 2015 operating_segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments (in operating segment)	1	3	3	3	3	3	1
Number of verticals | vertical				13
Number of Facebook fans | fan				13.5
Number of website visits | visit				14.4

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Summary of Significant Accounting Policies (Details)				1 Months Ended			3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2016 USD ($)	Feb. 08, 2016 shares	Jan. 31, 2016 reporting_unit	Feb. 29, 2016 reporting_unit	Feb. 29, 2016 operating_segment	Feb. 29, 2016 shares	Sep. 30, 2016 USD ($) operating_segment shares	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2016 USD ($) reporting_unit	Jun. 30, 2016 USD ($)	Jun. 30, 2016 USD ($) operating_segment	Jun. 30, 2015 USD ($) reporting_unit operating_segment lease	Jun. 30, 2014 lease
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts	$ 20,000						$ 20,000					$ 20,000	$ 20,000	$ 20,000	$ 20,000	$ 20,000
Actual credit losses							$ 0		$ 0					549,000		$ 0
Number of reporting units | reporting_unit													3			1
Number of operating segments (in operating segment)			1	3	3		3						3		3	1
Asset impairment charges							$ 0							28,541,000		$ 0
Goodwill adjustment	3,350,000
Impairments of goodwill											$ 1,672,000			0		0
Reduction of gain											$ 1,672,000
Write-off of certain intangible assets related to Choose Digital														0		2,086,000
Other impairments of long-lived assets																0
Capitalized Software:
Capitalized software	$ 1,498,000						$ 1,498,000					$ 1,498,000	$ 1,498,000	1,498,000	$ 1,498,000	$ 1,610,000
Deferred Rent Payable:
Lease, period landlord provided rent abatement							10 months					10 months
Number of lease agreements | lease																2	2
Recorded write offs														83,000
Revenue recognition:
Barter revenue							$ 0		2,609,000					428,000		$ 437,000
Barter expense														428,000		437,000
Marketing:
Marketing expense							$ 32,000		$ 3,321,000					603,000		528,000
Software
Property, Plant and Equipment [Line Items]
Property and equipment useful life							3 years					3 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment useful life							4 years					4 years
Perk Agreement | Discontinued Operations, Disposed of by Sale
Property, Plant and Equipment [Line Items]
Consideration received (in shares) | shares						1,370,000
Choose Digital
Property, Plant and Equipment [Line Items]
Asset impairment charges								$ 4,335,000		$ 4,335,000
Write-off of certain intangible assets related to Choose Digital								1,331,000
Wetpaint
Property, Plant and Equipment [Line Items]
Asset impairment charges								10,708,000		$ 10,708,000
Write-off of certain intangible assets related to Choose Digital								$ 11,418,000
DDGG
Property, Plant and Equipment [Line Items]
Write-off of certain intangible assets related to Choose Digital														749,000
DDGG
Property, Plant and Equipment [Line Items]
Goodwill adjustment														1,591,000
Write-off of certain intangible assets related to Choose Digital														749,000
Choose Digital
Property, Plant and Equipment [Line Items]
Impairments of goodwill														$ 4,335,000
Write-off of certain intangible assets related to Choose Digital																$ 2,085,000
Viggle | Discontinued Operations, Disposed of by Sale
Property, Plant and Equipment [Line Items]
Consideration received (in shares) | shares		1,370,000				1,370,000
Perk Agreement
Property, Plant and Equipment [Line Items]
Recorded loss							$ 2,193,000
Common Stock | Perk Agreement
Property, Plant and Equipment [Line Items]
Shares sold | shares							1,013,068
Consideration received							$ 1,300,000
Other Expense | Perk Agreement
Property, Plant and Equipment [Line Items]
Recorded loss							$ 2,193,000

XML

Segments (Narrative) (Details) $ in Thousands		1 Months Ended		3 Months Ended	12 Months Ended
	Jan. 31, 2016 reporting_unit	Feb. 29, 2016 reporting_unit	Feb. 29, 2016 operating_segment	Sep. 30, 2016 USD ($) operating_segment	Jun. 30, 2016 reporting_unit	Jun. 30, 2016 USD ($)	Jun. 30, 2016 operating_segment	Jun. 30, 2015 operating_segment
Segment Reporting Information [Line Items]
Number of operating segments (in operating segment)	1	3	3	3	3		3	1
DDGG
Segment Reporting Information [Line Items]
Transfers to DDGG subsidiary				$ 736		$ 857
Purchase price commitment				$ 500		$ 500

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Segments (Summary of Revenues and Net Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues	$ 659	$ 922	$ 4,509	$ 5,674
Net loss from continuing operations			(57,167)	(45,527)
Net loss	(7,553)	(13,412)	(63,689)	(78,539)
Reportable Segments
Segment Reporting Information [Line Items]
Revenues	534	797	4,010	5,157
Net loss from continuing operations			(40,375)	(15,491)
Net loss	(3,230)	(2,315)
Reportable Segments | Wetpaint
Segment Reporting Information [Line Items]
Net loss from continuing operations			(27,560)	(8,747)
Net loss	(2,077)	(1,857)
Reportable Segments | Choose Digital
Segment Reporting Information [Line Items]
Net loss from continuing operations			(7,621)	(6,744)
Net loss	(401)	(484)
Reportable Segments | DDGG
Segment Reporting Information [Line Items]
Net loss from continuing operations			(5,194)	0
Net loss	(752)	26
External Customers | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	534	797	2,725	4,302
External Customers | Reportable Segments | Wetpaint
Segment Reporting Information [Line Items]
Revenues	371	516	1,533	3,454
External Customers | Reportable Segments | Choose Digital
Segment Reporting Information [Line Items]
Revenues	58	198	664	848
External Customers | Reportable Segments | DDGG
Segment Reporting Information [Line Items]
Revenues	105	83	528	0
Internal Customers | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	0	0
Internal Customers | Reportable Segments | Wetpaint
Segment Reporting Information [Line Items]
Revenues	0	0
Internal Customers | Reportable Segments | Choose Digital
Segment Reporting Information [Line Items]
Revenues
Internal Customers | Reportable Segments | DDGG
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0
Internal Customers | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues			1,285	855
Internal Customers | Intersegment Eliminations | Wetpaint
Segment Reporting Information [Line Items]
Revenues			0	0
Internal Customers | Intersegment Eliminations | Choose Digital
Segment Reporting Information [Line Items]
Revenues			1,285	855
Internal Customers | Intersegment Eliminations | DDGG
Segment Reporting Information [Line Items]
Revenues			$ 0	$ 0

XML

Segments (Reconciliation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues	$ 659	$ 922	$ 4,509	$ 5,674
Reportable Segments
Segment Reporting Information [Line Items]
Revenues	534	797	4,010	5,157
Reconciling Items
Segment Reporting Information [Line Items]
Licensing revenues related to SFX licensing agreement	125	125	499	507
Other revenues	$ 0	$ 0	$ 0	$ 10

XML

Segments (Reconciliation of Net Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net loss for reportable segments, net of income taxes	$ (7,517)	$ (7,632)
Net loss from continuing operations			$ (57,167)	$ (45,527)
Total net loss	(5,708)	(2,315)	(40,447)	(16,150)
Gain on settlement of accounts payable			(2,132)	0
Interest expense	(1,651)	(856)	(3,788)	(2,050)
Loss on contingent consideration			0	2,222
Reportable Segments
Segment Reporting Information [Line Items]
Net loss for reportable segments, net of income taxes	(3,230)	(2,315)
Net loss from continuing operations			(40,375)	(15,491)
Reconciling Items
Segment Reporting Information [Line Items]
Other (loss) gain, net	(2,478)	0	(72)	(659)
Total compensation	0	4,250
Stock compensation related to corporate financing activities			(11,017)	(21,141)
Corporate expenses, net allocated to discontinued operations	(158)	(211)	(1,915)	(3,262)
Interest expense	$ (1,651)	$ (856)	(3,788)	(2,050)
Loss on contingent consideration			0	(2,222)
Corporate financing expenses			$ 0	$ (702)

XML

Segments (Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Assets	$ 33,070	$ 23,039	$ 70,229
Continuing Operations
Segment Reporting Information [Line Items]
Assets	33,050	23,000	54,582
Continuing Operations | Reportable Segments
Segment Reporting Information [Line Items]
Assets	31,034	17,651	45,859
Continuing Operations | Reportable Segments | Wetpaint
Segment Reporting Information [Line Items]
Assets	21,740	8,495	35,272
Continuing Operations | Reportable Segments | Choose Digital
Segment Reporting Information [Line Items]
Assets	5,273	5,416	10,587
Continuing Operations | Reportable Segments | DDGG
Segment Reporting Information [Line Items]
Assets	4,021	3,740	0
Continuing Operations | Reconciling Items
Segment Reporting Information [Line Items]
Assets	$ 2,016	$ 5,349	$ 8,723

XML

Discontinued Operations (Narrative) (Details)				1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 08, 2016 CAD / shares	Feb. 08, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares	Feb. 29, 2016 shares	Sep. 30, 2016 USD ($) shares	Jun. 30, 2016 USD ($)	Oct. 10, 2016 shares	Sep. 29, 2016 USD ($)	Feb. 08, 2016 USD ($)	Dec. 03, 2015 shares
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued (shares)										437,500
Perk Agreement | Secured Debt
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Settlement of Perk Loan in common stock | $			$ 1,000,000			$ 1,000,000
Viggle | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred | $									$ 5,110,000
Consideration received (in shares)		1,370,000		1,370,000
Contingent additional consideration (in shares)		2,000,000
Revenue threshold for earn-out provision | $									$ 130,000,000
Shares received (in shares)		130,000,000	130,000
Percentage of shares in escrow		37.50%
Shares restricted in escrow (in shares)		562,600
Gain on discontinued operation | $						$ 1,060,000
Recognized gain | $		$ 1,060,000
Viggle | Discontinued Operations, Disposed of by Sale | Scenario Threshold One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment warrants (in shares)		1,000,000
Warrants, exercise price per share (in dollars per warrant) | CAD / shares	CAD 6.25
Stock price threshold (in dollars per share) | CAD / shares	12.50
Threshold consecutive trading days		20 days
Period to from closing of transaction		2 years
Viggle | Discontinued Operations, Disposed of by Sale | Scenario Threshold Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investment warrants (in shares)		1,000,000
Warrants, exercise price per share (in dollars per warrant) | CAD / shares	6.25
Stock price threshold (in dollars per share) | CAD / shares	CAD 18.75
Threshold consecutive trading days		20 days
Period to from closing of transaction		2 years
Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued (shares)					1,013,068
Common Stock | Gracenote Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued (shares)					357,032
Common Stock | Gracenote, Inc and Tribune Media Services, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recognized gain | $					$ 593,000
Common Stock | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued (shares)							136,304
Common Stock | Subsequent Event | Gracenote Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued (shares)					357,032
Recognized gain | $					$ 593,000
Common Stock | Subsequent Event | Gracenote, Inc and Tribune Media Services, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recognized gain | $					593,000
Perk Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred | $					$ 1,300,000			$ 1,300,000
Perk Agreement | Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares sold					1,013,068
Consideration received | $					$ 1,300,000

XML

Discontinued Operations (Results of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues				$ 5,321	$ 19,852
Cost of watch points and engagement points				(3,416)	(9,574)
Selling, general and administrative expenses				(12,553)	(43,203)
Operating loss				(10,648)	(32,925)
Other expense:
Other income, net				4,169	0
Net loss before provision for income taxes				(6,479)	(32,925)
Income tax expense				(43)	(87)
Net loss from discontinued operations, net of tax	$ (36)	$ (5,780)		$ (6,522)	$ (33,012)
Viggle | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	0		$ 4,130
Cost of watch points and engagement points	0		(2,022)
Selling, general and administrative expenses	(36)		(7,866)
Operating loss	(36)		(5,758)
Other expense:
Income tax expense	0		(22)
Net loss from discontinued operations, net of tax	$ (36)		$ (5,780)

XML

Discontinued Operations (Schedule of Cash Flows from Discontinued Operations) (Details) - Viggle - Discontinued Operations, Disposed of by Sale - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash used in operating activities	$ (15,998)	$ (17,984)
Net cash used in investing activities	0	(843)
Net cash used in discontinued operations	$ (15,998)	$ (18,827)

XML

Discontinued Operations (Schedule of Assets Used In Discontinued Operations) (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Current assets:
Accounts receivable, net		$ 39,000	$ 3,281,000
Prepaid expenses		0	150,000
Current assets of discontinued operations	$ 20,000	39,000	3,431,000
Non-current assets:
Property and equipment, net		0	114,000
Intangible assets, net		0	2,630,000
Goodwill		0	11,111,000
Other assets		0	40,000
Non-current assets of discontinued operations		0	$ 13,895,000
Viggle | Discontinued Operations, Disposed of by Sale
Current assets:
Accounts receivable, net	20,000	39,000
Prepaid expenses	0	0
Current assets of discontinued operations	20,000	39,000
Non-current assets:
Property and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Other assets	0	0
Non-current assets of discontinued operations	$ 0	$ 0

XML

Discontinued Operations (Schedule of Liabilities Used In Discontinued Operations) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Accounts payable and accrued expenses	$ 2,609	$ 2,634	$ 4,249
Reward points payable		0	9,029
Current portion of loan payable	221	217	0
Current liabilities of discontinued operations	2,830	2,851	13,278
Non-current liabilities:
Other long-term liabilities	0	0	538
Non-current liabilities of discontinued operations	$ 0	$ 0	$ 538

XML

Acquisitions (Narrative) (Details)																							3 Months Ended		9 Months Ended	12 Months Ended		13 Months Ended
	Oct. 10, 2016 USD ($) shares	Sep. 16, 2016	Aug. 15, 2016 USD ($) shares	Jul. 12, 2016 USD ($) $ / shares shares	Jun. 14, 2016 USD ($) shares	May 18, 2016 USD ($)	May 12, 2016 USD ($) $ / shares shares	Apr. 25, 2016 USD ($) shares	Apr. 13, 2016 shares	Apr. 12, 2016	Mar. 24, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 28, 2015	Nov. 30, 2015 USD ($)	Oct. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Sep. 08, 2015 USD ($) member $ / shares shares	Aug. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)	Jun. 30, 2015 USD ($) $ / shares shares	Jun. 24, 2015 USD ($)	May 28, 2015 shares	Sep. 30, 2016 USD ($) $ / shares shares	Sep. 30, 2015 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2015 USD ($) $ / shares shares	Oct. 11, 2016 USD ($)	Jan. 29, 2016 USD ($)	Dec. 03, 2015 $ / shares shares	Jun. 24, 2014 USD ($)	Sep. 16, 2013 $ / shares	May 10, 2012 $ / shares shares
Business Acquisition [Line Items]
Contingent consideration																	$ 2,250,000
Increase in fair value of contingent consideration related to acquisitions																										$ 0	$ 2,222,000
Common stock, par value (usd per share) | $ / shares																				$ 0.001			$ 0.001			$ 0.001	$ 0.001
Number of warrants issued (shares) | shares																																	1,068.181875
Exercise price per share (in dollars per share) | $ / shares																																$ 1,840	$ 12,800
Common stock, shares issued (in shares) | shares																				1,169,156			3,056,353			3,023,753	1,169,156
Number members on the board | member																	3
Common stock issued to settle notes											$ 825,000												$ 28,500,000	$ 0		$ 868,000	$ 0
Series D issuance											$ 110,000												7,600,000	$ 0		110,000	0
Shares issued (shares) | shares																														437,500
Share price (in dollars per share) | $ / shares																														$ 9.4
Long-term debt																				$ 24,091,000						28,712,000	24,091,000
Transaction termination fee revenue			$ 75,000																							$ 75,000
Shares of stock reverted to company | shares			4,200																							4,200
Transitional services										45 days
Impairment of intangible assets																										$ 0	2,086,000
Impairments of goodwill																									$ 1,672,000	0	0
Rant, Inc.
Business Acquisition [Line Items]
Contingent consideration				$ 3,000,000
Liabilities assumed in acquisition				1,990,000
Consideration transferred				$ 7,600,000
Wetpaint
Business Acquisition [Line Items]
Impairments of goodwill																										10,708,000
Choose Digital
Business Acquisition [Line Items]
Contingent payment period																					5 days
Contingent consideration at time of acquisition																				$ 4,792,000	$ 4,792,000						4,792,000				$ 2,570,000
Increase in fair value of contingent consideration related to acquisitions																										2,222,000	2,222,000
Purchase price commitment						$ 300,000						$ 517,000		$ 521,000	$ 524,000	$ 528,000		$ 532,000	$ 668,000				400,000
Purchase price final payment							$ 1,754,000																			1,754,000			$ 1,754,000
Contingent consideration, interest																					170,000
Contingent consideration, legal fees																					$ 82,000
Monthly payment																							$ 100,000			$ 100,000
Installment interest rate																							9.00%			9.00%
Shares pledged as collateral (shares) | shares							100,000
Impairment of intangible assets																											$ 2,085,000
Impairments of goodwill																										$ 4,335,000
DraftDay.com
Business Acquisition [Line Items]
Contingent consideration																	$ 2,250,000
Number of shares issued in acquisition (shares) | shares																	67,879
Liabilities assumed in acquisition																	$ 1,392,000
DDGG
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares								10,394.35
Reduction of debt								$ 71,000
Impairment of intangible assets																										$ 749,000
Series D Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares) | shares									0											0			110			0	0
Common Stock
Business Acquisition [Line Items]
Shares issued (shares) | shares																							1,013,068
Reverse stock split, conversion ratio		0.05											0.001
Series E Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares) | shares																							4,435
Series E Preferred Stock | Rant, Inc.
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares				4,435
Value of stock converted to common shares (as a percent)				22.00%
MGT Sports | DraftDay.com
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares																	63,647
Common stock, par value (usd per share) | $ / shares																	$ 0.001
Third Parties | DraftDay.com
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares																	4,232
Number of warrants issued (shares) | shares																	150
Promissory Note
Business Acquisition [Line Items]
Interest rate																	5.00%
Secured Debt | Rant, Inc.
Business Acquisition [Line Items]
Fair value of debt				$ 3,500,000
Interest rate				12.00%
Conversion price (USD per share) | $ / shares				$ 5.20
Debt instrument, face amount				$ 3,000,000
Promissory Note due September 29, 2015 | Promissory Note
Business Acquisition [Line Items]
Contingent consideration																	$ 250,000
Promissory Note due September 29, 2015 | Promissory Note | MGT Sports | DraftDay.com
Business Acquisition [Line Items]
Contingent consideration																	234,000
Promissory Note due September 29, 2015 | Promissory Note | Third Parties | DraftDay.com
Business Acquisition [Line Items]
Contingent consideration																	16,000
Promissory Note due March 8, 2016 | Promissory Note | MGT Sports | DraftDay.com
Business Acquisition [Line Items]
Contingent consideration																	1,875,000
Promissory Note due March 8, 2016 | Promissory Note | Third Parties | DraftDay.com
Business Acquisition [Line Items]
Contingent consideration																	125,000
Promissory Note due September 8, 2015 | Promissory Note
Business Acquisition [Line Items]
Contingent consideration																	2,000,000
Kuusamo Promissory Notes Due September 29, 2015 | Unsecured Debt
Business Acquisition [Line Items]
Debt instrument, face amount																	16,000									$ 16,000
Kuusamo Promissory Notes Due March 8, 2016 | Unsecured Debt
Business Acquisition [Line Items]
Debt instrument, face amount																	$ 125,000									125,000
Long-term debt																							$ 55,000			54,000
Interest expense																										5,000
DDGG
Business Acquisition [Line Items]
Common stock, shares issued (in shares) | shares																	11,250
Number members on the board | member																	3
Transfers to subsidiary																										502,000
Number of Members Designated by Parent | member																	2
Number Of Members Designated By Affiliate | member																	1
DDGG | MGT Sports | DraftDay.com
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares																	2,550
Number of warrants issued (shares) | shares																	1,500
Exercise price per share (in dollars per share) | $ / shares																	$ 400.00
DDGG | Third Parties | DraftDay.com
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares																	150
Number of warrants issued (shares) | shares																	350
Exercise price per share (in dollars per share) | $ / shares																	$ 400.00
DDGG | Third Parties | Common Stock | DraftDay.com
Business Acquisition [Line Items]
Number of shares issued in acquisition (shares) | shares																	7,500
Affiliated Entity | DDGG
Business Acquisition [Line Items]
Number of board members appointed | member																	2
Affiliated Entity | Sportech
Business Acquisition [Line Items]
Number of board members appointed | member																	1
Affiliated Entity
Business Acquisition [Line Items]
Share price (in dollars per share) | $ / shares																														$ 9.4
Affiliated Entity | DDGG | Sportech
Business Acquisition [Line Items]
Common stock, shares issued (in shares) | shares																	9,000
Common Stock
Business Acquisition [Line Items]
Shares converted to common stock (shares) | shares									18,331.5
Shares issued (in shares) | shares																				102,439		181,308.95
Preferred Stock
Business Acquisition [Line Items]
Series D issuance																										$ 110,000
Preferred Stock | Series D Preferred Stock
Business Acquisition [Line Items]
Shares converted to common stock (shares) | shares									110
Preferred Stock | DDGG | Series A Preferred Stock
Business Acquisition [Line Items]
Shares issued (in shares) | shares							550
Share price (in dollars per share) | $ / shares							$ 1
Preferred Stock | DDGG | Sportech | Series A Preferred Stock
Business Acquisition [Line Items]
Shares issued (in shares) | shares							450
Share price (in dollars per share) | $ / shares							$ 1																$ 1			$ 1
Second MGT Exchange Agreement
Business Acquisition [Line Items]
Convertible debt					$ 940,000
Notes redeemed amount					$ 11,000
Second MGT Exchange Agreement | Common Stock
Business Acquisition [Line Items]
Common shares issued subject to certain adjustments (shares) | shares					132,092
DDGG
Business Acquisition [Line Items]
Purchase price commitment																							$ 500,000			$ 500,000
Impairment of intangible assets																										$ 749,000
Subsequent Event | Rant, Inc.
Business Acquisition [Line Items]
Contingent consideration				3,000,000
Liabilities assumed in acquisition				$ 2,000,000
Subsequent Event | Common Stock
Business Acquisition [Line Items]
Shares issued (shares) | shares	136,304
Reverse stock split, conversion ratio		0.05
Subsequent Event | Series E Preferred Stock | Rant, Inc.
Business Acquisition [Line Items]
Shares issued (shares) | shares				4,435
Subsequent Event | Secured Debt | Rant, Inc.
Business Acquisition [Line Items]
Debt instrument, face amount				$ 3,000,000
Subsequent Event | Conversion of MGT Sports Convertible Securities
Business Acquisition [Line Items]
Payment of interest	$ 16,000
Subsequent Event | Conversion of MGT Sports Convertible Securities | Common Stock
Business Acquisition [Line Items]
Common shares issued subject to certain adjustments (shares) | shares	136,304
Subsequent Event | DDGG
Business Acquisition [Line Items]
Transfers to subsidiary																												$ 550,000

XML

Acquisitions (Summary of Acquisitions) (Details) - USD ($) $ in Thousands	Jul. 12, 2016	Sep. 08, 2015	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Consideration transferred:
Contingent consideration		$ 2,250
Total consideration		4,010
Final allocation:
Goodwill			$ 18,859	$ 11,270	$ 24,722
Rant, Inc.
Consideration transferred:
Consideration transferred	$ 7,600
Contingent consideration	3,000
Final allocation:
Goodwill	7,589
Intangible assets	5,500
Total liabilities	(1,990)
Total consideration	$ 11,099
DraftDay.com
Consideration transferred:
Contingent consideration		2,250
Total consideration		4,010
Final allocation:
Goodwill		1,591
Intangible assets		3,012
Other Assets		799
Total liabilities		(1,392)
Total consideration		4,010
Viggle Common Stock | DraftDay.com
Consideration transferred:
Consideration transferred		$ 1,760

XML

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 3,469		$ 3,469	$ 3,937
Accumulated Depreciation and Amortization	(2,132)		(2,055)	(1,603)
Property and Equipment, net	1,337		1,414	2,334
Depreciation and amortization	77	$ 53	512	656
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	2,261		2,261	2,886
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	588		588	588
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	456		456	458
Software
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 164		$ 164	$ 5

XML

Intangible Assets and Goodwill (By Amortization Period) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Amount	$ 16,868,000		$ 11,368,000	$ 23,235,000
Accumulated Amortization	(6,639,000)		(6,029,000)	(4,552,000)
Carrying Value	10,229,000		5,339,000	18,683,000
Amortization expense	610,000	$ 797,000	$ 1,227,000	3,497,000
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period			36 months
Amount			$ 0	1,610,000
Accumulated Amortization			0	(515,000)
Carrying Value			0	1,095,000
Other
Finite-Lived Intangible Assets [Line Items]
Amount	326,000		326,000	326,000
Accumulated Amortization	(18,000)		(18,000)	(8,000)
Carrying Value	$ 308,000		308,000	318,000
Wetpaint | Technology-Based Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months
Amount	$ 4,952,000		4,952,000
Accumulated Amortization	(3,368,000)		(3,276,000)
Carrying Value	$ 1,584,000		$ 1,676,000
Wetpaint | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period			60 months
Amount			$ 4,952,000	10,600,000
Accumulated Amortization			(3,276,000)	(2,336,000)
Carrying Value			$ 1,676,000	8,264,000
Wetpaint | Trademarks
Finite-Lived Intangible Assets [Line Items]
Amortization Period	276 months		276 months
Amount	$ 1,453,000		$ 1,453,000	5,800,000
Accumulated Amortization	(427,000)		(415,000)	(296,000)
Carrying Value	$ 1,026,000		$ 1,038,000	5,504,000
Wetpaint | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months		60 months
Amount	$ 917,000		$ 917,000	2,000,000
Accumulated Amortization	(832,000)		(827,000)	(617,000)
Carrying Value	$ 85,000		$ 90,000	1,383,000
Wetpaint | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Amortization Period			36 months
Amount			$ 0	609,000
Accumulated Amortization			0	(313,000)
Carrying Value			$ 0	296,000
WatchPoints | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period			60 months
Amount			$ 829,000	1,740,000
Accumulated Amortization			(559,000)	(355,000)
Carrying Value			$ 270,000	1,385,000
Dijit | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period			60 months
Amount			$ 627,000	550,000
Accumulated Amortization			(212,000)	(112,000)
Carrying Value			415,000	438,000
Choose Digital | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months
Amount	$ 627,000		627,000
Accumulated Amortization	(234,000)		(212,000)
Carrying Value	$ 393,000		415,000
Choose Digital | Intellectual Property
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months
Amount	$ 829,000		829,000
Accumulated Amortization	(574,000)		(559,000)
Carrying Value	$ 255,000		$ 270,000
Choose Digital | Other
Finite-Lived Intangible Assets [Line Items]
Amortization Period			84 months
Amount			$ 180,000	0
Accumulated Amortization			(38,000)	0
Carrying Value			$ 142,000	0
DDGG | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period			60 months
Amount			$ 1,498,000	0
Accumulated Amortization			(303,000)	0
Carrying Value			$ 1,195,000	0
DDGG | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period			24 months
Amount			$ 556,000	0
Accumulated Amortization			(351,000)	0
Carrying Value			$ 205,000	0
DDGG | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Amortization Period			6 months
Amount			$ 30,000	0
Accumulated Amortization			(30,000)	0
Carrying Value			0	$ 0
DraftDay.com | Capitalized software
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months
Amount	$ 1,498,000		1,498,000
Accumulated Amortization	(394,000)		(303,000)
Carrying Value	$ 1,104,000		1,195,000
DraftDay.com | Trade Names
Finite-Lived Intangible Assets [Line Items]
Amortization Period	84 months
Amount	$ 180,000		180,000
Accumulated Amortization	(50,000)		(38,000)
Carrying Value	$ 130,000		142,000
DraftDay.com | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	24 months
Amount	$ 556,000		556,000
Accumulated Amortization	(456,000)		(351,000)
Carrying Value	$ 100,000		205,000
DraftDay.com | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Amortization Period	6 months
Amount	$ 30,000		30,000
Accumulated Amortization	(30,000)		(30,000)
Carrying Value	$ 0		0
Rant, Inc. | Technology-Based Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization Period	60 months
Amount	$ 1,500,000		0
Accumulated Amortization	(64,000)		0
Carrying Value	$ 1,436,000		0
Rant, Inc. | Marketing-Related Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization Period	24 months
Amount	$ 650,000		0
Accumulated Amortization	(68,000)		0
Carrying Value	$ 582,000		0
Rant, Inc. | Trademarks
Finite-Lived Intangible Assets [Line Items]
Amortization Period	120 months
Amount	$ 2,700,000		0
Accumulated Amortization	(56,000)		0
Carrying Value	$ 2,644,000		0
Rant, Inc. | Media Content
Finite-Lived Intangible Assets [Line Items]
Amortization Period	24 months
Amount	$ 650,000		0
Accumulated Amortization	(68,000)		0
Carrying Value	$ 582,000		$ 0

XML

Intangible Assets and Goodwill (Future Amortization) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2017	$ 2,370
2017		$ 1,194
2018	3,026	966
2019	1,730	919
2020	1,367	919
2021	$ 1,036	$ 670

XML

Intangible Assets and Goodwill (Summary of Goodwill) (Details) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2016	Sep. 30, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015
Goodwill [Roll Forward]
Balance at June 30, 2015		$ 11,270,000	$ 24,722,000	$ 24,722,000
Acquisition of DDGG	$ 3,350,000
Impairments of goodwill			$ (1,672,000)	0	$ 0
Balance at June 30, 2016	$ 11,270,000	18,859,000		11,270,000	$ 24,722,000
Rant, Inc.
Goodwill [Roll Forward]
Acquisition of DDGG		$ 7,589,000
DDGG
Goodwill [Roll Forward]
Acquisition of DDGG				1,591,000
Wetpaint
Goodwill [Roll Forward]
Impairments of goodwill				(10,708,000)
Choose Digital
Goodwill [Roll Forward]
Impairments of goodwill				$ (4,335,000)

XML

Loans Payable (Summary of Loans Payable) (Details) - USD ($)	Sep. 30, 2016	Jul. 12, 2016	Jul. 08, 2016	Jun. 30, 2016	Jun. 27, 2016	May 16, 2016	Apr. 29, 2016	Mar. 29, 2016	Jan. 27, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Long-term debt	$ 8,853,000			$ 28,712,000
Long-term debt				28,712,000						$ 24,091,000
RI Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount					$ 300,000
Long-term debt	300,000			300,000	300,000
Line of Credit | Term Loan Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				15,000,000
Long-term debt				0						0
Line of Credit | Line Of Credit Promissory Note
Debt Instrument [Line Items]
Maximum borrowing capacity				20,000,000
Long-term debt	19,666,000			19,716,000						19,516,000
Line of Credit | Line of Credit Grid Note
Debt Instrument [Line Items]
Maximum borrowing capacity				10,000,000
Long-term debt				4,563,000						3,000,000
Line of Credit | Secured Revolving Loan
Debt Instrument [Line Items]
Debt instrument, face amount	500,000
Long-term debt	0			500,000
Line of Credit | Secured Revolving Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	500,000
Long-term debt	0			500,000
Line of Credit | Note
Debt Instrument [Line Items]
Debt instrument, face amount	20,000,000
Long-term debt	0			19,716,000
Line of Credit | Exchange Agreement
Debt Instrument [Line Items]
Debt instrument, face amount	10,000,000
Long-term debt	900,000			4,563,000
Line of Credit | Secured Revolving Loan I
Debt Instrument [Line Items]
Debt instrument, face amount	1,500,000
Long-term debt	0			1,500,000
Line of Credit | Secured Revolving Loan II
Debt Instrument [Line Items]
Debt instrument, face amount	500,000
Long-term debt	0			500,000
Line of Credit | Secured Revolving Loan III
Debt Instrument [Line Items]
Debt instrument, face amount	1,200,000
Long-term debt	0			135,000
Line of Credit | Secured Debt | Secured Revolving Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				1,500,000					$ 1,500,000
Long-term debt				1,500,000						0
Line of Credit | Secured Debt | Secured Revolving Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				500,000
Debt instrument, face amount								$ 500,000
Long-term debt				500,000						0
Unsecured Debt | Unsecured Demand Loan
Debt Instrument [Line Items]
Debt instrument, face amount				0						1,575,000
Long-term debt				0						1,575,000
Unsecured Debt | RI Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount	300,000
Long-term debt	300,000			300,000
Unsecured Debt | MGT Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount	2,109,000
Long-term debt	943,000			943,000
Unsecured Debt | Kuusamo Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount	141,000
Long-term debt	55,000			55,000
Secured Debt | Secured Revolving Promissory Note
Debt Instrument [Line Items]
Debt instrument, face amount				500,000
Long-term debt				500,000						0
Secured Debt | Secured Revolving Promissory Note II
Debt Instrument [Line Items]
Debt instrument, face amount				500,000		$ 500,000	$ 500,000
Long-term debt				500,000						0
Secured Debt | Secured Revolving Promissory Note III
Debt Instrument [Line Items]
Debt instrument, face amount				1,200,000	$ 1,200,000
Long-term debt				135,000						0
Secured Debt | Secured Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount	3,000,000
Long-term debt	3,500,000			0
Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Debt instrument, face amount	4,444,000	$ 4,444,000
Long-term debt	$ 3,155,000			0
Convertible Debt | RI Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount				300,000
Long-term debt				300,000						0
Convertible Debt | Secured Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount			$ 3,000,000
Loans Payable | MGT Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount				2,109,000
Long-term debt				943,000						0
Loans Payable | Kuusamo Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount				141,000
Long-term debt				$ 55,000						$ 0

XML

Loans Payable (Term Loan Agreement) (Details) - USD ($)							12 Months Ended
	Jun. 13, 2014	Apr. 30, 2014	Mar. 11, 2014	Dec. 13, 2013	Mar. 11, 2013	May 10, 2012	Jun. 30, 2015	Jun. 30, 2013	Dec. 15, 2014	Feb. 13, 2014	Sep. 16, 2013
Line of Credit Facility [Line Items]
Number of warrants issued (shares)						1,068.181875
Warrants, exercise period						3 years
Exercise price per share (in dollars per share)						$ 12,800					$ 1,840
Sillerman Investment Company, LLC | New $25,000 Line of Credit
Line of Credit Facility [Line Items]
Number of warrants issued (shares)					6,250
Warrants, exercise period			60 months
Exercise price per share (in dollars per share)					$ 1,600
Compensation expense								$ 110,000
Term Loan Agreement (DB Line) | Deutsche Bank | Line of Credit
Line of Credit Facility [Line Items]
Draw on line of credit				$ 16,951,000
Line of credit, amount outstanding				26,951,000
Remaining borrowing capacity				3,049,000
New $25,000 Line of Credit | Sillerman Investment Company, LLC | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 25,000,000
February Amendment to the DB Line | Deutsche Bank | Term Loan Agreement (DB Line)
Line of Credit Facility [Line Items]
Prepayment of debt										$ 10,000,000
Line of Credit | Term Loan Agreement (DB Line)
Line of Credit Facility [Line Items]
Debt issue amount				$ 30,000,000
Loans payable									$ 15,000,000
Line of Credit | Term Loan Agreement (DB Line) | Deutsche Bank
Line of Credit Facility [Line Items]
Maximum borrowing capacity					10,000,000
Line of credit, minimum advance					$ 1,000,000
Interest expense							$ 185,000
Line of Credit | Term Loan Agreement (DB Line) | Deutsche Bank | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate				2.50%	4.00%
Line of Credit | Term Loan Agreement (DB Line) | Deutsche Bank | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				0.25%	1.75%
Line of Credit | February Amendment to the DB Line
Line of Credit Facility [Line Items]
Repayments of line of credit	$ 10,000,000	$ 10,000,000
Line of Credit | March Amendment to the DB Line
Line of Credit Facility [Line Items]
Debt issue amount			$ 35,000,000
Increase in credit facility			$ 5,000,000

XML

Loans Payable (Convertible Debentures) (Details) - USD ($)						1 Months Ended
	Oct. 12, 2016	Jul. 13, 2016	Jul. 12, 2016	Jul. 08, 2016	May 10, 2012	Oct. 31, 2016	Sep. 30, 2016	Jul. 20, 2016	Jun. 30, 2016
Debt Instrument [Line Items]
Warrants, exercise period					3 years
Minority interest (more than)									4.99%
Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Debt instrument, face amount			$ 4,444,000				$ 4,444,000
Proceeds from issuance of debt			$ 4,000,000
Debt instrument term			1 year
Conversion price (USD per share)			$ 6.2660
Shares available for conversion (up to)			780,230
Minimum conversion price (USD per share)			$ 0.10
Interest rate			10.00%
Debt callback percentage			120.00%
Debt default conversion percentage			115.00%
Debt default interest accrued (as a percent)			100.00%
Lock-up agreement, period following issuance of debentures			6 months
Lock-up agreement, period following resale registration statement			90 days
Interest expense, long term debt			$ 1,856,000
Minimum cash reserve, number of trading days to be considered in default			3 days
Minimum cash reserve, event of default, interest rate			18.00%
Number of trading days of failure to cure non-payment of amortization before event of default			3 days
Failure to cure non-payment of amortization, event of default, interest rate			18.00%
Convertible Debt | Exchange Agreement
Debt Instrument [Line Items]
Repayments of debt			$ 1,162,000
Debt instrument fee			420,000
Debt discount			$ 444,000
Affiliated Entity | Amendment to Securities Purchase Agreement
Debt Instrument [Line Items]
Guaranteed line of credit								$ 6,000,000
Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Current carrying value								1,000,000
Sillerman Investment Company VI LLC | Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Guaranteed line of credit								5,000,000
Mr. Sillerman | Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Guaranteed line of credit								1,000,000
Common Stock | Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Warrants issued			354,650
Warrant | Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Conversion price (USD per share)			$ 6.5280
Warrants, exercise period			5 years
Fair value of warrants			$ 1,500,000
Subsequent Event | Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Debt instrument, face amount			$ 4,444,000
Proceeds from issuance of debt				$ 4,000,000
Repayments of debt		$ 1,162,000
Conversion price (USD per share)			$ 6.266
Shares available for conversion (up to)			780,230
Minimum conversion price (USD per share)			$ 0.10
Interest rate			10.00%
Debt callback percentage				120.00%
Debt default conversion percentage				115.00%
Debt default interest accrued (as a percent)				100.00%
Unamortized discount	$ 444,000
Interest payable	$ 114,000
Percentage of holders of debentures for which waiver agreements were entered into	87.00%					87.00%
Failure to cure non-payment of amortization, event of default, interest rate	18.00%
Percent of holders of debentures for which waiver agreements were not entered into	13.00%					13.00%
Amount due to purchases for which waiver agreements were not entered into	$ 696,000
Subsequent Event | Affiliated Entity | Amendment to Securities Purchase Agreement
Debt Instrument [Line Items]
Guaranteed line of credit								6,000,000
Subsequent Event | Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Current carrying value								1,000,000
Subsequent Event | Sillerman Investment Company VI LLC | Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Guaranteed line of credit								5,000,000
Subsequent Event | Mr. Sillerman | Affiliated Entity | Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit
Debt Instrument [Line Items]
Guaranteed line of credit								$ 1,000,000
Subsequent Event | Common Stock | Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Warrants issued			354,650
Subsequent Event | Warrant | Convertible Debt | Purchase Agreement July 12, 2016
Debt Instrument [Line Items]
Conversion price (USD per share)			$ 6.528
Warrants, exercise period			5 years

XML

Loans Payable (Secured Convertible Promissory Note) (Details) - Convertible Debt - Secured Convertible Note $ / shares in Units, $ in Thousands	Jul. 08, 2016 USD ($) $ / shares
Debt Instrument [Line Items]
Debt instrument, face amount | $	$ 3,000
Interest rate	12.00%
Conversion price (USD per share) | $ / shares	$ 5.20

XML

Loans Payable (Line of Credit Promissory Note) (Details) - USD ($)			3 Months Ended		12 Months Ended
	Aug. 22, 2016	Oct. 24, 2014	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 11, 2015	Mar. 16, 2015	Dec. 15, 2014	Nov. 25, 2014	Sep. 16, 2013	May 10, 2012
Line of Credit Facility [Line Items]
Number of warrants issued (shares)												1,068.181875
Long-term debt			$ 8,853,000		$ 28,712,000
Long-term debt					28,712,000	$ 24,091,000
Exercise price per share (in dollars per share)											$ 1,840	$ 12,800
Share based compensation in connection with securities purchase agreement			$ 0	$ 50,000	0	4,140,000
Securities Purchase Agreement
Line of Credit Facility [Line Items]
Share based compensation in connection with securities purchase agreement						2,091,000
Securities Purchase Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Share based compensation in connection with securities purchase agreement					2,049,000	2,049,000
Securities Purchase Agreement | Series C Convertible Redeemable Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Temporary equity, shares subscribed but unissued, subscriptions receivable		$ 10,000,000				$ 10,000,000
Number of warrants issued (shares)								17,500		7,500
Class of warrant or right, unissued (shares)						25,000
Exercise price above market value of common stock, percent						10.00%
Line Of Credit Promissory Note | Securities Purchase Agreement | Series C Convertible Redeemable Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Exercise price per share (in dollars per share)								$ 35.6		$ 59.6
Line Of Credit Promissory Note | Securities Purchase Agreement | Line of Credit
Line of Credit Facility [Line Items]
Number of warrants issued for each $1,000 advanced under line of credit		2,500
Line Of Credit Promissory Note | Securities Purchase Agreement | Line of Credit | Affiliated Entity
Line of Credit Facility [Line Items]
Temporary equity, shares subscribed but unissued, subscriptions receivable		$ 30,000,000
Maximum borrowing capacity		$ 20,000,000
Class of warrant or right, unissued (shares)		50,000
Number of warrants issued for each $1,000 advanced under line of credit		50,000
Exercise price above market value of common stock, percent		10.00%
Interest rate		12.00%
Debt instrument, face amount									$ 15,500,000
Debt discount percentage		3.00%	3.00%
Amortization of debt discount			$ 266,000		$ 316,000
Debt discount			600,000			$ 600,000
Stated interest rate in the event of default		17.00%
Common stock, shares outstanding (in warrants)									38,750
Exercise price per share (in dollars per share)		$ 70.2							$ 72.6
Warrant exercisable period		5 years
Maximum loan amount to officer		$ 500,000
Limitation on indebtedness		1,000,000
Minimum sale amount for material technology or intellectual property, term					12 months
Minimum sale amount for material technology or intellectual property		500,000
Minimum fair value of assets involved in payment, contribution or assignment		$ 1,000,000
Interest expense			382,000	$ 613,000	$ 2,440,000	1,391,000
Line Of Credit Promissory Note | Securities Purchase Agreement | Line of Credit | Initial Draw On Line Of Credit | Affiliated Entity
Line of Credit Facility [Line Items]
Number of warrants issued (shares)		1,000,000
Debt instrument, face amount		$ 4,500,000
Common stock, shares outstanding (in warrants)		11,250
Line of Credit Grid Note | Affiliated Entity
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	$ 900,000
Line of Credit | Line Of Credit Promissory Note
Line of Credit Facility [Line Items]
Maximum borrowing capacity					20,000,000
Long-term debt			19,666,000		19,716,000	19,516,000
Line of Credit | Line Of Credit Promissory Note | Securities Purchase Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Debt instrument, face amount						20,000,000
Long-term debt			$ 20,000,000
Line of Credit | Line of Credit Grid Note
Line of Credit Facility [Line Items]
Maximum borrowing capacity					10,000,000
Interest rate							12.00%
Long-term debt					4,563,000	3,000,000
Stated interest rate in the event of default							14.00%
Interest expense					$ 574,000	$ 10,000
Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Notes redeemed amount	$ 30,175,000
Note Exchange Agreement | Series C Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Shares issued in conversion (shares)	30,175
Conversion price (USD per share)	$ 1,000
Note Exchange Agreement | SIC III | Affiliated Entity
Line of Credit Facility [Line Items]
Notes redeemed amount	$ 23,264,000
Note Exchange Agreement | SIC III | Series C Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Shares issued in conversion (shares)	23,264
Subsequent Event | Line of Credit Grid Note | Affiliated Entity
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	$ 900,000
Subsequent Event | Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Notes redeemed amount	$ 30,174,969
Subsequent Event | Note Exchange Agreement | Series C Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Shares issued in conversion (shares)	30,175
Conversion price (USD per share)	$ 1,000

XML

Loans Payable (Unsecured Demand Loans) (Details) - USD ($)				12 Months Ended
	Jun. 01, 2015	Mar. 16, 2015	Nov. 25, 2014	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Sale of Class C Convertible Redeemable Preferred Stock				$ 0	$ 10,000,000
Long-term debt				28,712,000	$ 24,091,000
Unsecured Debt
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				13,575,000
Proceeds used to pay all accrued and unpaid interest on loans		$ 798,000
Unsecured Debt | December 19, 2014
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				2,000,000
Unsecured Debt | January 14, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				2,000,000
Unsecured Debt | January 30, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				2,000,000
Unsecured Debt | February 13, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				750,000
Unsecured Debt | February 26, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				1,000,000
Unsecured Debt | March 2, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				1,000,000
Unsecured Debt | March 16, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				3,000,000
Unsecured Debt | April 20, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				1,000,000
Unsecured Debt | May 5, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				500,000
Unsecured Debt | May 14, 2015
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt				325,000
Unsecured Debt | Unsecured Demand Loan
Debt Instrument [Line Items]
Interest rate					12.00%
Long-term debt				0	$ 1,575,000
Outstanding principal amount				0	1,575,000
Interest expense				$ 1,000	$ 0
Series C Convertible Preferred Stock
Debt Instrument [Line Items]
Temporary equity, shares issued (in shares)				10,000	0
Series C Convertible Preferred Stock | Affiliated Entity | Securities Purchase Agreement
Debt Instrument [Line Items]
Temporary equity, shares issued (in shares)		7,000	3,000
Sale of Class C Convertible Redeemable Preferred Stock		$ 7,000,000	$ 3,000,000
Unsecured Debt
Debt Instrument [Line Items]
Extinguishment of debt	$ 5,000,000	$ 7,000,000

XML

Loans Payable (Line of Credit Grid Note) (Details)															3 Months Ended		7 Months Ended	12 Months Ended
	Aug. 22, 2016 USD ($) $ / shares shares	Jul. 08, 2016 USD ($) $ / shares shares	Dec. 03, 2015 USD ($) $ / shares shares	Nov. 25, 2015 USD ($)	Oct. 30, 2015 USD ($)	Oct. 13, 2015 USD ($)	Sep. 29, 2015 USD ($)	Sep. 15, 2015 USD ($)	Aug. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)	Jul. 01, 2015 USD ($)	Jun. 24, 2015 USD ($)	Jun. 11, 2015 USD ($)	Sep. 16, 2013	Sep. 30, 2016 USD ($) shares	Sep. 30, 2015 USD ($)	Nov. 25, 2015 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Oct. 10, 2016 shares	Jul. 18, 2016 USD ($)	May 09, 2016 $ / shares	Dec. 04, 2015 USD ($)
Line of Credit Facility [Line Items]
Shares issued (shares) | shares			437,500
Share price (in dollars per share) | $ / shares			$ 9.4
Common stock offerings			$ 4,112,000												$ 0	$ 1,757,000		$ 4,117,000	$ 0
Long-term debt															$ 8,853,000			28,712,000
Affiliated Entity
Line of Credit Facility [Line Items]
Share price (in dollars per share) | $ / shares			$ 9.4
Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Notes redeemed amount	$ 30,175,000
Note Exchange Agreement | SIC III
Line of Credit Facility [Line Items]
Notes redeemed amount	3,150,000
Subsequent Event | Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Notes redeemed amount	$ 30,174,969
Series C Preferred Stock | Affiliated Entity
Line of Credit Facility [Line Items]
Share price (in dollars per share) | $ / shares																						$ 6.20
Series C Preferred Stock | SIC III
Line of Credit Facility [Line Items]
Preferred shares converted (in shares) | shares		3,000
Series C Preferred Stock | Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares	30,175
Conversion price (USD per share) | $ / shares	$ 1,000
Series C Preferred Stock | Note Exchange Agreement | SIC III
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares	3,150
Series C Preferred Stock | Subsequent Event | SIC III
Line of Credit Facility [Line Items]
Preferred shares converted (in shares) | shares		3,000
Series C Preferred Stock | Subsequent Event | Note Exchange Agreement | Affiliated Entity
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares	30,175
Conversion price (USD per share) | $ / shares	$ 1,000
Common Stock
Line of Credit Facility [Line Items]
Shares issued (shares) | shares															1,013,068
Common Stock | SIC III
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares		890,898
Common Stock | Mr. Sillerman
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares		5,066,654
Common Stock | Subsequent Event
Line of Credit Facility [Line Items]
Shares issued (shares) | shares																				136,304
Common Stock | Subsequent Event | SIC III
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares		890,898
Common Stock | Subsequent Event | Mr. Sillerman
Line of Credit Facility [Line Items]
Shares issued in conversion (shares) | shares		5,066,654
Exchange Agreement
Line of Credit Facility [Line Items]
Common stock outstanding value (at least)		$ 10,000,000
Share exchange price (USD per share) | $ / shares		$ 5.20
Exchange Agreement | Subsequent Event
Line of Credit Facility [Line Items]
Common stock outstanding value (at least)		$ 10,000,000
Share exchange price (USD per share) | $ / shares		$ 5.20
Line of Credit Grid Note | Affiliated Entity
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	$ 900,000
Line of Credit Grid Note | Subsequent Event | Affiliated Entity
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	$ 900,000
Line of Credit | Amended Exchange Agreement | Subsequent Event
Line of Credit Facility [Line Items]
Debt issue amount																					$ 2,000,000
Remaining borrowing capacity																					5,000,000
Line of Credit | Secured Revolving Line Of Credit With SIC VI
Line of Credit Facility [Line Items]
Interest expense															$ 77,000	$ 96,000
Line of Credit | Line of Credit Grid Note
Line of Credit Facility [Line Items]
Debt issue amount																			10,000,000
Interest rate													12.00%
Stated interest rate in the event of default													14.00%
Interest coverage ratio													1
Interest coverage ratio, term													12 months
Draw on line of credit				$ 1,000,000	$ 600,000	$ 500,000	$ 1,000,000	$ 1,000,000	$ 2,000,000	$ 1,000,000		$ 2,000,000	$ 1,000,000				$ 10,100,000
Repayment of note											$ 1,425,000
Loans payable			$ 8,675,000																				$ 4,563,000
Debt default, term after due date												5 days	5 days	5 days
Interest expense																		574,000	$ 10,000
Line of Credit | Exchange Agreement
Line of Credit Facility [Line Items]
Long-term debt															$ 900,000			$ 4,563,000
Line of Credit | Exchange Agreement | Amended Exchange Agreement
Line of Credit Facility [Line Items]
Debt issue amount																					2,000,000
Additional draw amount																					5,000,000
Remaining borrowing capacity																					3,605,000
Line of Credit | Exchange Agreement | Amended Exchange Agreement | Subsequent Event
Line of Credit Facility [Line Items]
Debt issue amount																					2,000,000
Additional draw amount																					5,000,000
Remaining borrowing capacity																					$ 4,291,000

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Loans Payable (Secured Revolving Loans and Lines of Credit) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Aug. 22, 2016	Jun. 27, 2016	May 16, 2016	Apr. 29, 2016	Mar. 29, 2016	Jan. 27, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Long-term debt			$ 28,712,000							$ 24,091,000
Note Exchange Agreement
Debt Instrument [Line Items]
Loans payable				$ 3,608,000
Line of Credit | Secured Revolving Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000
Line of Credit | Secured Revolving Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	500,000
Line of Credit | Secured Revolving Line Of Credit With SIC VI
Debt Instrument [Line Items]
Interest expense	77,000	$ 96,000
Secured Debt | Secured Revolving Promissory Note II
Debt Instrument [Line Items]
Interest rate			12.00%			12.00%	12.00%
Long-term debt			$ 500,000							0
Interest expense	9,000		6,000
Debt instrument, face amount			500,000			$ 500,000	$ 500,000
Secured Debt | Secured Revolving Promissory Note
Debt Instrument [Line Items]
Long-term debt			500,000							0
Interest expense	9,000		9,000
Debt instrument, face amount			$ 500,000
Secured Debt | Secured Revolving Promissory Note III
Debt Instrument [Line Items]
Interest rate			12.00%		12.00%
Amount drawn on facility			$ 135,000
Long-term debt			135,000							0
Interest expense	8,000
Debt instrument, face amount			1,200,000		$ 1,200,000
Secured Debt | Line of Credit | Secured Revolving Loan
Debt Instrument [Line Items]
Maximum borrowing capacity			1,500,000						$ 1,500,000
Long-term debt			1,500,000							0
Interest expense	27,000		71,000
Secured Debt | Line of Credit | Secured Revolving Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			500,000
Long-term debt			500,000							$ 0
Interest expense	$ 9,000		$ 12,000
Debt instrument, face amount								$ 500,000
Affiliated Entity | Sillerman Investment Company VI LLC | Line of Credit | Secured Revolving Loan With SIC VI
Debt Instrument [Line Items]
Interest rate									12.00%
Affiliated Entity | Sillerman Investment Company VI LLC | Line of Credit | Secured Revolving Line Of Credit With SIC VI
Debt Instrument [Line Items]
Interest rate								12.00%
Series C Preferred Stock | Note Exchange Agreement
Debt Instrument [Line Items]
Preferred Stock, shares issued (in shares)				3,608
Conversion price (USD per share)				$ 1,000

XML

Loans Payable (Loan from Perk) (Details) - USD ($)				1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 08, 2016	Dec. 23, 2015	Dec. 14, 2015	Feb. 29, 2016	Dec. 31, 2015	Jun. 30, 2016	Dec. 13, 2015
Debt Instrument [Line Items]
Reduction in common stock payable	130,000
Common stock payable	1,500,000
Line of Credit | Credit Agreement with Perk
Debt Instrument [Line Items]
Draw on line of credit		$ 333,000	$ 667,000		$ 1,000,000
Maximum borrowing capacity						$ 0	$ 1,000,000
Interest rate							12.00%
Stated interest rate in the event of default							12.00%
Interest expense						$ 0
Viggle | Discontinued Operations, Disposed of by Sale
Debt Instrument [Line Items]
Consideration received (in shares)	1,370,000			1,370,000

XML

Loans Payable (Convertible Promissory Note) (Details) - USD ($)		12 Months Ended
	Jul. 08, 2016	Jun. 30, 2016	Sep. 30, 2016	Jun. 27, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Long-term debt		$ 28,712,000			$ 24,091,000
RI Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount				$ 300,000
Interest rate				12.00%
Long-term debt		300,000	$ 300,000	$ 300,000
Interest expense		2,000
Convertible Debt | Secured Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount	$ 3,000,000
Interest rate	12.00%
Fair value of conversion feature	$ 500,000
Convertible Debt | RI Convertible Note
Debt Instrument [Line Items]
Debt instrument, face amount		300,000
Long-term debt		$ 300,000			$ 0

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Loans Payable (Promissory Notes) (Details) - USD ($)						3 Months Ended		12 Months Ended
	Oct. 10, 2016	Jun. 14, 2016	Apr. 25, 2016	Apr. 13, 2016	Mar. 24, 2016	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2013	Mar. 08, 2016	Dec. 03, 2015	Sep. 29, 2015	Sep. 08, 2015
Debt Instrument [Line Items]
Common stock issued to settle notes					$ 825,000	$ 28,500,000	$ 0	$ 868,000	$ 0
Long-term debt								28,712,000	24,091,000
Shares issued (shares)												437,500
MGT Promissory Notes Due March 8, 2016
Debt Instrument [Line Items]
Common stock issued to settle notes								824,000
Unsecured Debt | MGT Promissory Notes Due September 29, 2015
Debt Instrument [Line Items]
Debt instrument, face amount								234,000					$ 234,000
Unsecured Debt | MGT Promissory Notes Due March 8, 2016
Debt Instrument [Line Items]
Debt instrument, face amount								1,875,000			$ 1,875,000
Unsecured Debt | MGT Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount						2,109,000
Loans payable						943,000
Interest expense						12,000
Unsecured Debt | Kuusamo Promissory Notes Due September 29, 2015
Debt Instrument [Line Items]
Debt instrument, face amount								16,000						$ 16,000
Unsecured Debt | Kuusamo Promissory Notes Due March 8, 2016
Debt Instrument [Line Items]
Debt instrument, face amount								125,000						$ 125,000
Long-term debt						55,000		54,000
Unsecured Debt | Kuusamo Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount						141,000
Loans payable						55,000
Interest expense						$ 1,000
Promissory Note
Debt Instrument [Line Items]
Interest rate														5.00%
Loans Payable | MGT Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount								2,109,000
Long-term debt								943,000	0
Interest expense								65,000
Loans Payable | Kuusamo Promissory Notes
Debt Instrument [Line Items]
Debt instrument, face amount								141,000
Long-term debt								55,000	$ 0
Interest expense								$ 5,000
Series D Preferred Stock
Debt Instrument [Line Items]
Preferred stock, shares outstanding (in shares)				0		110		0	0
Series D Preferred Stock | Unsecured Debt | MGT Promissory Notes Due March 8, 2016
Debt Instrument [Line Items]
Notes redeemed amount					110,000
Common Stock
Debt Instrument [Line Items]
Shares issued (shares)						1,013,068
Common Stock | Unsecured Debt | MGT Promissory Notes Due March 8, 2016
Debt Instrument [Line Items]
Notes redeemed amount					$ 824,000
Preferred Stock | Series D Preferred Stock
Debt Instrument [Line Items]
Shares converted to common stock (shares)				110
Common Stock
Debt Instrument [Line Items]
Shares converted to common stock (shares)				18,331.5
Second MGT Exchange Agreement
Debt Instrument [Line Items]
Convertible debt		$ 940,000
Notes redeemed amount		$ 11,000
Second MGT Exchange Agreement | Common Stock
Debt Instrument [Line Items]
Common shares issued subject to certain adjustments (shares)		132,092
DDGG
Debt Instrument [Line Items]
Number of shares issued in acquisition (shares)			10,394.35
Reduction of debt			$ 71,000
Sillerman Investment Company, LLC | New $25,000 Line of Credit
Debt Instrument [Line Items]
Compensation expense										$ 110,000
Subsequent Event | Conversion of MGT Sports Convertible Securities
Debt Instrument [Line Items]
Payment of interest	$ 16,000
Subsequent Event | Common Stock
Debt Instrument [Line Items]
Shares issued (shares)	136,304
Subsequent Event | Common Stock | Conversion of MGT Sports Convertible Securities
Debt Instrument [Line Items]
Common shares issued subject to certain adjustments (shares)	136,304

XML

Loans Payable (Accounts Payable Settlements) (Details) - USD ($) $ in Thousands							3 Months Ended	12 Months Ended
	Nov. 15, 2016	May 12, 2016	Apr. 25, 2016	Apr. 12, 2016	Apr. 07, 2016	Mar. 28, 2016	Sep. 30, 2016	Jun. 30, 2016
Debt Instrument [Line Items]
Interest on notes payable issued for litigation settlements							$ 14	$ 2
North America Photon Infotech Ltd.
Debt Instrument [Line Items]
Damages sought						$ 218
Simulmedia, Inc.
Debt Instrument [Line Items]
Litigation settlement amount					$ 56
Carpathia Hosting, LLC
Debt Instrument [Line Items]
Damages sought			$ 658
Gain (loss) related to litigation settlement								505
Pandora Media Inc.
Debt Instrument [Line Items]
Gain (loss) related to litigation settlement								$ 222
Settled Litigation | North America Photon Infotech Ltd.
Debt Instrument [Line Items]
Litigation settlement amount		$ 110
Settled Litigation | Pandera Systems, LLC
Debt Instrument [Line Items]
Litigation settlement amount				$ 50
Subsequent Event | Settled Litigation | North America Photon Infotech Ltd.
Debt Instrument [Line Items]
Common shares issued subject to certain adjustments (shares)	31,510

XML

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Sep. 09, 2016	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Oct. 10, 2016	Dec. 03, 2015
Loss Contingencies [Line Items]
Shares issued (shares)						437,500
Rent expense			$ 361	$ 610
CFGI LLC
Loss Contingencies [Line Items]
Damages sought	$ 200
Creditors Adjustment Bureau
Loss Contingencies [Line Items]
Damages sought			$ 84
Subsequent Event | CFGI LLC
Loss Contingencies [Line Items]
Damages sought	$ 200
Common Stock
Loss Contingencies [Line Items]
Shares issued (shares)		1,013,068
Common Stock | Subsequent Event
Loss Contingencies [Line Items]
Shares issued (shares)					136,304
Gracenote Inc | Common Stock
Loss Contingencies [Line Items]
Shares issued (shares)		357,032
Gracenote Inc | Common Stock | Subsequent Event
Loss Contingencies [Line Items]
Shares issued (shares)		357,032
Recognized gain		$ 593
Settled Litigation | CFGI LLC
Loss Contingencies [Line Items]
Litigation settlement amount		(150)
Settled Litigation | Creditors Adjustment Bureau
Loss Contingencies [Line Items]
Litigation settlement amount		$ (55)

XML

Commitments and Contingencies (Operating Leases) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2017	$ 466
2018	490
2019	688
2020	729
2021	749
Thereafter	640
Total	$ 3,762

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Stockholders' (Deficit) Equity (Series A Convertible Redeemable Preferred Stock) (Details) - $ / shares	Sep. 16, 2013	Sep. 30, 2016	Jul. 07, 2016	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Redemption price (in dollars per share)			$ 5.20
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000	100,000		100,000
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000		$ 1,000
Quarterly dividend rate (as a percent)	7.00%
Redemption price (in dollars per share)	$ 23.00
Preferred stock anniversary period	42 months
Share price (in dollars per share)	$ 1.00
Voting percentage required to create, issue or amend preferred stock	51.00%
Series A Convertible Preferred Stock | Year One
Class of Stock [Line Items]
Preferred stock conversion percentage	8.00%
Series A Convertible Preferred Stock | Year Two
Class of Stock [Line Items]
Preferred stock conversion percentage	6.00%
Series A Convertible Preferred Stock | Year Three
Class of Stock [Line Items]
Preferred stock conversion percentage	4.00%
Series A Convertible Preferred Stock | After Year Three, Before Forty Two Months
Class of Stock [Line Items]
Preferred stock conversion percentage	2.00%
Series A Convertible Preferred Stock | After Forty Two Months
Class of Stock [Line Items]
Preferred stock conversion percentage	0.00%
Series A Convertible Preferred Stock | Maximum
Class of Stock [Line Items]
Percent of proceeds, which no convertible stock premium is due	33.00%
Preferred Class A
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000
Preferred stock, par value (in dollars per share)	$ 1,000
Quarterly dividend rate (as a percent)	7.00%
Redemption price (in dollars per share)	$ 23
Preferred stock anniversary period	42 months
Share price (in dollars per share)	$ 80
Voting percentage required to create, issue or amend preferred stock	51.00%
Temporary equity, shares outstanding (in shares)				0	0
Preferred Class A | Upon Change in Control
Class of Stock [Line Items]
Preferred stock anniversary period	42 months
Preferred Class A | Year One
Class of Stock [Line Items]
Preferred stock conversion percentage	8.00%
Preferred Class A | Year One | Upon Change in Control
Class of Stock [Line Items]
Preferred stock conversion percentage	8.00%
Preferred Class A | Year Two
Class of Stock [Line Items]
Preferred stock conversion percentage	6.00%
Preferred Class A | Year Two | Upon Change in Control
Class of Stock [Line Items]
Preferred stock conversion percentage	6.00%
Preferred Class A | Year Three
Class of Stock [Line Items]
Preferred stock conversion percentage	4.00%
Preferred Class A | Year Three | Upon Change in Control
Class of Stock [Line Items]
Preferred stock conversion percentage	4.00%
Preferred Class A | After Year Three, Before Forty Two Months
Class of Stock [Line Items]
Preferred stock conversion percentage	2.00%
Preferred Class A | After Year Three, Before Forty Two Months | Upon Change in Control
Class of Stock [Line Items]
Preferred stock conversion percentage	2.00%
Preferred Class A | After Forty Two Months
Class of Stock [Line Items]
Preferred stock conversion percentage	0.00%
Preferred Class A | After Forty Two Months | Upon Change in Control
Class of Stock [Line Items]
Preferred stock conversion percentage	0.00%
Preferred Class A | Maximum
Class of Stock [Line Items]
Percent of proceeds, which no convertible stock premium is due	33.00%

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Stockholders' (Deficit) Equity (Series B Convertible Preferred Stock) (Details) - USD ($)	Jun. 24, 2015	Jun. 11, 2015	Sep. 16, 2013	Sep. 30, 2016	Jul. 07, 2016	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Redemption price (in dollars per share)					$ 5.20
Series A Convertible Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)			100,000
Preferred stock, stated value (usd per share)			$ 1,000
Redemption price (in dollars per share)			23
Share price (in dollars per share)			$ 80
Voting percentage required to create, issue or amend preferred stock			51.00%
Temporary equity, shares outstanding (in shares)						0	0
Series B Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)			50,000	50,000		50,000	50,000
Preferred stock, stated value (usd per share)			$ 1,000	$ 1,000		$ 1,000	$ 1,000
Redemption price (in dollars per share)			$ 23
Minimum percentage of capital stock sold to be considered a fundamental transaction			90.00%
Voting percentage of surviving entity (less than)			50.00%
Capital stock aggregate implied value			$ 125,000,000
Voting percentage required to create, issue or amend preferred stock			51.00%
Temporary equity, shares outstanding (in shares)							0
Series B Convertible Preferred Stock | Clause One | Minimum | Five Days
Class of Stock [Line Items]
Share price (in dollars per share)			$ 33.4
Series B Convertible Preferred Stock | Clause Two
Class of Stock [Line Items]
Minimum shares of stock trading per day (shares)			1,250
Line of Credit | Line of Credit Grid Note
Class of Stock [Line Items]
Debt default, term after due date	5 days	5 days	5 days

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Stockholders' (Deficit) Equity (Series C Convertible Redeemable Preferred Stock) (Details) - Series C Convertible Redeemable Preferred Stock - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		12 Months Ended
	Aug. 22, 2016	Oct. 24, 2014	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Temporary equity, shares authorized (in shares)		100,000			100,000	100,000
Temporary equity, stated value (usd per share)	$ 1,000	$ 1,000			$ 1,000	$ 1,000
Annual dividend rate, percent	12.00%	12.00%
Conversion price per share (USD per share)		$ 80
Early redemption premium, percent	6.00%	6.00%
Percent excluded from redemption fee	33.00%	33.00%
Conversion price excluded from redemption fee (USD per share)	$ 5.00	$ 100
Undeclared dividends			$ 484	$ 307
Number of days per year over which the dividend rate is computed	360 days	360 days
Number of months per year over which the dividend rate is computed	12 months	12 months
Number of days in each month over which the dividend rate is computed	30 days	30 days
Securities Purchase Agreement
Class of Stock [Line Items]
Undeclared dividends					$ 1,156	$ 468

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Stockholders' (Deficit) Equity (Securities Purchase Agreement) (Details) - USD ($)			3 Months Ended		12 Months Ended
	Mar. 16, 2015	Nov. 25, 2014	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Oct. 24, 2014	Sep. 16, 2013	May 10, 2012
Class of Stock [Line Items]
Sale of Class C Convertible Redeemable Preferred Stock					$ 0	$ 10,000,000
Number of warrants issued (shares)									1,068.181875
Exercise price per share (in dollars per share)								$ 1,840	$ 12,800
Share based compensation in connection with securities purchase agreement			$ 0	$ 50,000	$ 0	$ 4,140,000
Series C Convertible Redeemable Preferred Stock
Class of Stock [Line Items]
Temporary equity, shares issued (in shares)					10,000	0
Undeclared dividends			$ 484,000	$ 307,000
Securities Purchase Agreement
Class of Stock [Line Items]
Share based compensation in connection with securities purchase agreement						$ 2,091,000
Securities Purchase Agreement | Series C Convertible Redeemable Preferred Stock
Class of Stock [Line Items]
Undeclared dividends					$ 1,156,000	468,000
Securities Purchase Agreement | Affiliated Entity
Class of Stock [Line Items]
Share based compensation in connection with securities purchase agreement					$ 2,049,000	$ 2,049,000
Securities Purchase Agreement | Affiliated Entity | Series C Convertible Redeemable Preferred Stock
Class of Stock [Line Items]
Temporary equity, shares subscribed but unissued (shares)			10,000			10,000
Temporary equity, shares subscribed but unissued, subscriptions receivable						$ 10,000,000	$ 10,000,000
Class of warrant or right, unissued (shares)						25,000
Exercise price above market value of common stock, percent						10.00%
Temporary equity, shares issued (in shares)	7,000	3,000
Sale of Class C Convertible Redeemable Preferred Stock	$ 7,000,000	$ 3,000,000
Number of warrants issued (shares)	17,500	7,500
Securities Purchase Agreement | Affiliated Entity | Line Of Credit Promissory Note | Series C Convertible Redeemable Preferred Stock
Class of Stock [Line Items]
Class of warrant or right, unissued, number of warrants issued for each $1,000 paid for temporary equity shares (shares)	2,500
Exercise price per share (in dollars per share)	$ 35.6	$ 59.6

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Stockholders' (Deficit) Equity (Preferred Stock Conversion) (Details)			2 Months Ended	12 Months Ended
	Aug. 22, 2016 USD ($) $ / shares shares	May 09, 2016 USD ($) $ / shares shares	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2015 USD ($) shares	Oct. 10, 2016 shares	Sep. 30, 2016 series shares	Dec. 03, 2015 $ / shares shares
Class of Stock [Line Items]
Number of series of preferred stock authorized | series							4
Shares issued (shares)								437,500
Share price (in dollars per share) | $ / shares								$ 9.4
Proceeds from issuance of stock | $				$ 200,000	$ 12,459,000
Minority interest (more than)			4.99%	4.99%
Series C Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)			3,000	3,000			33,175
Common Stock
Class of Stock [Line Items]
Shares issued (shares)							1,013,068
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)			3,000	3,000			33,175
Affiliated Entity
Class of Stock [Line Items]
Share price (in dollars per share) | $ / shares								$ 9.4
Affiliated Entity | Series C Preferred Stock
Class of Stock [Line Items]
Share price (in dollars per share) | $ / shares		$ 6.20
Affiliated Entity | Securities Purchase Agreement | Series C Convertible Preferred Stock
Class of Stock [Line Items]
Temporary equity, shares subscribed but unissued (shares)					10,000		10,000
Sillerman Investment Company, LLC | Affiliated Entity | Common Stock
Class of Stock [Line Items]
Proceeds from issuance of stock | $		$ 7,000,000	$ 7,000,000
Sillerman Investment Company, LLC | Affiliated Entity | Securities Purchase Agreement
Class of Stock [Line Items]
Share price (in dollars per share) | $ / shares		$ 6.20	$ 6.2	$ 6.2
Shares issued (in shares)		1,129,032	1,129,032.25000
Sillerman Investment Company, LLC | Affiliated Entity | Securities Purchase Agreement | Series C Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)			10,000,000	10,000,000			10,000
Preferred shares converted (in shares)		7,000	7,000,000
Sillerman Investment Company, LLC | Affiliated Entity | Securities Purchase Agreement | Common Stock
Class of Stock [Line Items]
Shares issued (shares)		1,129,032.25000
Mr. Sillerman | Affiliated Entity | Securities Purchase Agreement
Class of Stock [Line Items]
Minority interest (more than)		50.00%					50.00%
Note Exchange Agreement | Affiliated Entity
Class of Stock [Line Items]
Notes redeemed amount | $	$ 30,175,000
Note Exchange Agreement | Affiliated Entity | Series C Preferred Stock
Class of Stock [Line Items]
Shares issued in conversion (shares)	30,175
Conversion price (USD per share) | $ / shares	$ 1,000
Subsequent Event | Common Stock
Class of Stock [Line Items]
Shares issued (shares)						136,304
Subsequent Event | Note Exchange Agreement | Affiliated Entity
Class of Stock [Line Items]
Notes redeemed amount | $	$ 30,174,969
Subsequent Event | Note Exchange Agreement | Affiliated Entity | Series C Preferred Stock
Class of Stock [Line Items]
Shares issued in conversion (shares)	30,175
Conversion price (USD per share) | $ / shares	$ 1,000
Line of Credit Grid Note | Affiliated Entity
Class of Stock [Line Items]
Line of credit, amount outstanding | $	$ 900,000
Line of Credit Grid Note | Subsequent Event | Affiliated Entity
Class of Stock [Line Items]
Line of credit, amount outstanding | $	$ 900,000

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Stockholders' (Deficit) Equity (Series D Convertible Preferred Stock) (Details) - $ / shares	Apr. 13, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 24, 2016	Jun. 30, 2015
Common Stock
Class of Stock [Line Items]
Shares converted to common stock (shares)	18,331.5
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		150	150	150	150
Preferred stock, par value (in dollars per share)		$ 1,000	$ 1,000	$ 1,000	$ 1,000
Share conversion rate (shares)				166.65
Threshold of ownership (up to)				9.99%
Preferred stock, shares outstanding (in shares)	0	110	0		0
Preferred Stock, shares issued (in shares)		110	0	110	0
Series D Preferred Stock | Preferred Stock
Class of Stock [Line Items]
Shares converted to common stock (shares)	110

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Stockholders' (Deficit) Equity (Series E Convertible Preferred Stock) (Details) - $ / shares	Sep. 30, 2016	Jul. 07, 2016
Class of Stock [Line Items]
Redemption price (in dollars per share)		$ 5.20
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		10,000
Preferred stock, par value (in dollars per share)		$ 1,000
Preferred stock, shares outstanding (in shares)	4,435

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Stockholders' (Deficit) Equity (Public Offerings of Common Stock) (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Jun. 30, 2015 USD ($) $ / shares shares	May 28, 2015 USD ($) $ / shares shares	Jun. 30, 2016 USD ($) shares	Jun. 30, 2015 USD ($) $ / shares shares	Sep. 30, 2016 vote / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	300,000,000		300,000,000	300,000,000	300,000,000
Common stock, shares issued (in shares)	1,169,156		3,023,753	1,169,156	3,056,353
Proceeds from issuance of stock | $			$ 200	$ 12,459
Common Stock, Number Of Voting Rights Per Share | vote / shares					1
Common Stock
Class of Stock [Line Items]
Shares issued (in shares)	102,439	181,308.95
Share price (in dollars per share) | $ / shares	$ 41	$ 50		$ 41
Proceeds from issuance of stock | $	$ 3,878	$ 8,442

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Stockholders' (Deficit) Equity (Private Placements of Common Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		12 Months Ended
	Aug. 15, 2016	Dec. 03, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	May 12, 2016
Class of Stock [Line Items]
Shares issued (shares)		437,500
Share price (in dollars per share)		$ 9.4
Common stock offerings		$ 4,112	$ 0	$ 1,757	$ 4,117	$ 0
Shares of stock reverted to company	4,200				4,200
DDGG
Class of Stock [Line Items]
Reduction to non-controlling interest					$ 378
Preferred Stock | DDGG | Series A Preferred Stock
Class of Stock [Line Items]
Share price (in dollars per share)							$ 1
Preferred Stock | DDGG | Sportech | Series A Preferred Stock
Class of Stock [Line Items]
Share price (in dollars per share)			$ 1		$ 1		$ 1
Common stock offerings			$ 121		$ 257
Affiliated Entity
Class of Stock [Line Items]
Share price (in dollars per share)		$ 9.4

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Stockholders' (Deficit) Equity (Subscription Agreement) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	Dec. 03, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Shares issued (shares)	437,500
Share price (in dollars per share)	$ 9.4
Loans converted to common stock	$ 4,112	$ 0	$ 1,757	$ 4,117	$ 0
Affiliated Entity
Class of Stock [Line Items]
Share price (in dollars per share)	$ 9.4

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Stockholders' (Deficit) Equity (Non-controlling Interest) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		12 Months Ended
	Aug. 15, 2016	Dec. 03, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	May 12, 2016
Class of Stock [Line Items]
Loans converted to common stock		$ 4,112	$ 0	$ 1,757	$ 4,117	$ 0
Share price (in dollars per share)		$ 9.4
Shares of stock reverted to company	4,200				4,200
DDGG
Class of Stock [Line Items]
Reduction to non-controlling interest					$ 378
Preferred Stock | DDGG | Series A Preferred Stock
Class of Stock [Line Items]
Share price (in dollars per share)							$ 1
Preferred Stock | DDGG | Sportech | Series A Preferred Stock
Class of Stock [Line Items]
Loans converted to common stock			$ 121		$ 257
Share price (in dollars per share)			$ 1		$ 1		$ 1

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Stockholders' (Deficit) Equity (Narrative) (Details)	Sep. 16, 2016	Dec. 28, 2015	Sep. 30, 2016 shares	Jun. 30, 2016 shares	Jun. 30, 2015 shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			300,000,000	300,000,000	300,000,000
Common stock, shares outstanding (in shares)			3,056,353	3,023,753	1,169,156
Common Stock
Class of Stock [Line Items]
Reverse stock split, conversion ratio	0.05	0.001

XML

Share-Based Payments (Narrative) (Details) - USD ($)	3 Months Ended			12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Feb. 21, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0		0	11,767
Restatement adjustment		$ 843,000		$ 843,000	$ 0
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation	$ 15,000		$ 4,991,000	11,720,000	23,562,000
Unrecognized share-based compensation costs	29,000	59,000		59,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation	12,000		$ 173,000	147,000	$ 1,420,000
Unrecognized share-based compensation costs	$ 133,000	$ 157,000		$ 157,000
Expiration period	10 years			10 years
Unrecognized share-based compensation costs, period for recognition	4 years			4 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years			3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years			4 years
Executive Incentive Plan, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for delivery under plan (shares)					187,500	6,250,000

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Share-Based Payments (Restricted Stock) (Details) - Restricted Stock Units - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation	$ 15	$ 4,991	$ 11,720	$ 23,562
Unrecognized share-based compensation costs	$ 29		$ 59
Shares
Nonvested, beginning balance (in shares)	4,042	23,313	23,313
Granted (in shares)	0		17,571
Vested (in shares)			(19,138)
Forfeited and canceled (in shares)			(17,704)
Nonvested, ending balance (in shares)			4,042	23,313
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share)	$ 2,740.40	$ 1,044.60	$ 1,044.60
Granted (in dollars per share)			32.60
Vested (in dollars per share)			944.60
Forfeited and canceled (in dollars per share)			74.80
Nonvested, ending balance (in dollars per share)			$ 2,740.40	$ 1,044.60

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Share-Based Payments (Stock Options) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Number of Options
Beginning balance (in shares)	45,351	59,091	59,091
Granted (in shares)	0	0	11,767
Exercised (in shares)			0
Forfeited and canceled (in shares)			(24,803)
Expired (in shares)			(704)
Ending balance (in shares)			45,351	59,091
Weighted average exercise price
Beginning balance (in dollars per share)	$ 238.40	$ 223.80	$ 223.80
Granted (in dollars per share)			6.60
Exercised (in dollars per share)			0.00
Forfeited and canceled (in dollars per share)			68.60
Expired (in dollars per share)			64.40
Ending balance (in dollars per share)			$ 238.40	$ 223.80
Exercisable (in shares)			41,982
Exercisable (in dollars per share)			$ 253.00
Weighted average remaining contractual life (years)
Beginning balance			8 years 6 months 12 days	8 years 11 months 18 days
Ending balance			8 years 6 months 12 days	8 years 11 months 18 days
Exercisable			8 years 6 months 12 days
Aggregate intrinsic value
Beginning balance	$ 0	$ 21	$ 21
Granted			0
Exercised			0
Forfeited and canceled			0
Ending balance			0	$ 21
Exercisable			$ 0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years		10 years
Total compensation	$ 12	$ 173	$ 147	$ 1,420
Unrecognized share-based compensation costs	$ 133		$ 157
Unrecognized share-based compensation costs, period for recognition	4 years		4 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years		3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years		4 years

XML

Share-Based Payments (Assumptions Used) (Details) - Stock Options - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected volatility (as a percent)	80.00%	80.00%
Risk-free interest rate (as a percent)	1.94%	1.82%
Expected dividend yield (as a percent)	0.00%	0.00%
Expected life (in years)	6 years 6 months	6 years 5 months 30 days
Estimated fair value per option granted (in dollars per share)	$ 6.60	$ 42.20

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Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 162,900		$ 162,900
Income tax expense	$ 0	$ 0	$ 0	$ 0

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Income Taxes (Reconciliation of Tax Rate) (Details)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Statutory U.S. federal tax rate	35.00%	35.00%
State and local income taxes - net of federal benefit	10.37%	10.37%
Valuation allowance	(45.37%)	(45.37%)
Effective tax rate	0.00%	0.00%

XML

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Deferred tax assets:
Share based compensation	$ 92,824	$ 86,546
Start-up expenditures	2,043
Start-up expenditures	4,799	5,236
Other		1,575
Operating loss carryforward	79,476	71,616
Total deferred tax assets	179,142	164,973
Deferred tax liabilities:
Depreciation and amortization	(7,913)	(6,156)
Valuation allowance	(171,229)	(158,817)
Deferred tax liability, net	$ 0	$ 0

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Related Party Transactions (Details)							2 Months Ended	3 Months Ended		12 Months Ended
	Aug. 22, 2016 USD ($) $ / shares shares	May 09, 2016 USD ($) $ / shares shares	Dec. 03, 2015 USD ($) $ / shares shares	Sep. 22, 2015 member	Jan. 22, 2015 member	Mar. 10, 2014 USD ($)	Jun. 30, 2016 USD ($) $ / shares shares	Sep. 30, 2016 USD ($) $ / shares shares	Sep. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2015 USD ($)	Mar. 29, 2016	Jan. 27, 2016 USD ($)	Dec. 04, 2015 USD ($)	Jun. 11, 2015
Related Party Transaction [Line Items]
Ownership percentage								60.00%
Write off of accounts receivable										$ 127,000
Marketing expense								$ 32,000	$ 3,321,000	603,000	$ 528,000
Reward points redeemed										0
Shares issued (shares) | shares			437,500
Share price (in dollars per share) | $ / shares			$ 9.4
Loans converted to common stock			$ 4,112,000					$ 0	1,757,000	4,117,000	0
Long-term debt							$ 28,712,000			28,712,000	24,091,000
Proceeds from issuance of stock										$ 200,000	12,459,000
Minority interest (more than)							4.99%			4.99%
Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares outstanding (in shares) | shares							3,000	33,175		3,000
Preferred stock, par value (in dollars per share) | $ / shares							$ 1,000	$ 1,000		$ 1,000
Common Stock
Related Party Transaction [Line Items]
Shares issued (shares) | shares								1,013,068
Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares outstanding (in shares) | shares							3,000	33,175		3,000
Line of Credit Grid Note | Line of Credit
Related Party Transaction [Line Items]
Loans payable			$ 8,675,000											$ 4,563,000
Maximum borrowing capacity							$ 10,000,000			$ 10,000,000
Interest rate															12.00%
Long-term debt							4,563,000			4,563,000	3,000,000
Debt issue amount											10,000,000
Secured Debt | Secured Revolving Loan | Line of Credit
Related Party Transaction [Line Items]
Maximum borrowing capacity							1,500,000			1,500,000			$ 1,500,000
Long-term debt							1,500,000			1,500,000	0
Secured Debt | Secured Revolving Line of Credit | Line of Credit
Related Party Transaction [Line Items]
Maximum borrowing capacity							500,000			500,000
Long-term debt							$ 500,000			$ 500,000	0
Circle Entertainment Inc. | Legal and Administrative Services
Related Party Transaction [Line Items]
Ownership percentage							10.00%			10.00%
Revenue from related parties										$ 14,000	27,000
Due from related parties							$ 0			0	113,000
Affiliated Entity
Related Party Transaction [Line Items]
Reimbursement for services provided, percent					20.00%
Share price (in dollars per share) | $ / shares			$ 9.4
Affiliated Entity | Series C Preferred Stock
Related Party Transaction [Line Items]
Share price (in dollars per share) | $ / shares		$ 6.20
Affiliated Entity | Line of Credit Grid Note
Related Party Transaction [Line Items]
Line of credit, amount outstanding	$ 900,000
Affiliated Entity | SFX Holding Corporation
Related Party Transaction [Line Items]
Advertising revenue										37,000	487,000
Marketing expense											490,000
Affiliated Entity | Sillerman Investment Company VI LLC | Secured Revolving Loan With SIC VI | Line of Credit
Related Party Transaction [Line Items]
Interest rate													12.00%
Affiliated Entity | Sillerman Investment Company VI LLC | Secured Revolving Line Of Credit With SIC VI | Line of Credit
Related Party Transaction [Line Items]
Interest rate												12.00%
Affiliated Entity | Sillerman Investment Company, LLC | Common Stock
Related Party Transaction [Line Items]
Proceeds from issuance of stock		$ 7,000,000					7,000,000
Affiliated Entity | Legal and Administrative Services | SFX Holding Corporation
Related Party Transaction [Line Items]
Revenue from related parties										188,000	978,000
Due from related parties							$ 142,000			142,000	146,000
Affiliated Entity | Commissions on Sales and Reimbursement for Barter Transaction Expenses | SFX-94
Related Party Transaction [Line Items]
Due to related parties										424,000	471,000
Affiliated Entity | Audio Recognition and Related Loyalty Program Software License and Services Agreement | SFX Holding Corporation
Related Party Transaction [Line Items]
Amounts of transaction						$ 5,000,000
Agreement term						10 years
Revenue recognized										$ 500,000	$ 500,000
Affiliated Entity | Securities Purchase Agreement | Sillerman Investment Company, LLC
Related Party Transaction [Line Items]
Share price (in dollars per share) | $ / shares		$ 6.20					$ 6.2			$ 6.2
Affiliated Entity | Securities Purchase Agreement | Sillerman Investment Company, LLC | Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares outstanding (in shares) | shares							10,000,000	10,000		10,000,000
Preferred shares converted (in shares) | shares		7,000					7,000,000
Affiliated Entity | Securities Purchase Agreement | Sillerman Investment Company, LLC | Common Stock
Related Party Transaction [Line Items]
Shares issued (shares) | shares		1,129,032.25000
Affiliated Entity | Securities Purchase Agreement | Mr. Sillerman
Related Party Transaction [Line Items]
Minority interest (more than)		50.00%						50.00%
SFX Holding Corporation | Legal and Administrative Services
Related Party Transaction [Line Items]
Revenue from related parties
Amounts due							$ 142,000	139,000		$ 142,000
SFX Holding Corporation | Audio Recognition and Related Loyalty Program Software License and Services Agreement
Related Party Transaction [Line Items]
Amounts of transaction						$ 5,000,000
Agreement term						10 years
Revenue recognized								$ 125,000	$ 125,000
SFX-94
Related Party Transaction [Line Items]
Number of employees hired | member				8
SFX-94 | Commissions on Sales and Reimbursement for Barter Transaction Expenses
Related Party Transaction [Line Items]
Number of employees hired | member					25
Commission on sales, percent					25.00%
Licensing Agreements
Related Party Transaction [Line Items]
Amortization Period						10 years
Note Exchange Agreement | SIC IV | Line of Credit
Related Party Transaction [Line Items]
Notes redeemed amount	$ 1,500,000
Note Exchange Agreement | SIC IV | Line of Credit | Series C Preferred Stock
Related Party Transaction [Line Items]
Shares issued in conversion (shares) | shares	1,500
Note Exchange Agreement | SIC IV | $500 Line of Credit Facility
Related Party Transaction [Line Items]
Notes redeemed amount	$ 500,000
Note Exchange Agreement | SIC IV | $500 Line of Credit Facility | Series C Preferred Stock
Related Party Transaction [Line Items]
Shares issued in conversion (shares) | shares	500
Note Exchange Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Notes redeemed amount	$ 30,175,000
Note Exchange Agreement | Affiliated Entity | Series C Preferred Stock
Related Party Transaction [Line Items]
Shares issued in conversion (shares) | shares	30,175
Conversion price (USD per share) | $ / shares	$ 1,000
Amended Series C Certificate of Designations | Affiliated Entity | Line of Credit | Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, par value (in dollars per share) | $ / shares	1,000
Amended Series C Certificate of Designations | Affiliated Entity | $500 Line of Credit Facility | Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, par value (in dollars per share) | $ / shares	$ 1,000

XML

Fair Value Measurement (Narrative) (Details) $ / shares in Units, $ in Thousands						1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 22, 2016 USD ($) $ / shares shares	Jul. 12, 2016 USD ($) $ / shares shares	Feb. 08, 2016 USD ($) shares	Sep. 16, 2013 $ / shares shares	May 10, 2012 USD ($) $ / shares shares	Feb. 29, 2016 shares	Sep. 30, 2016 USD ($) shares	Sep. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($) shares	Sep. 29, 2016 USD ($)	Dec. 03, 2015 shares	Jun. 24, 2015 USD ($)	Mar. 31, 2015 shares	Jun. 24, 2014 USD ($)	Jun. 30, 2013 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of warrants issued (shares) | shares					1,068.181875
Sale price of warrant (in dollars per share) | $ / shares					$ 8,800
Warrant conversion ratio (in shares) | shares					1
Warrant conversion ratio (in shares)					1
Warrants, exercise price per share (in dollars per warrant) | $ / shares				$ 1,840	$ 12,800
Warrants, exercise period					3 years
Warrants, exercise period					3 years
Mark-to-market gain recorded on warrants							$ 0	$ (5)	$ 0	$ 5
Increase in fair value of contingent consideration related to acquisitions									0	2,222
Investment in warrants			$ 1,023						648
Fair value loss in financial assets									376	0
Shares issued (shares) | shares												437,500
Shares issued for acquisition									2,365
Choose Digital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration at time of acquisition										4,792			$ 4,792		$ 2,570
Increase in fair value of contingent consideration related to acquisitions									2,222	$ 2,222
Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Conversion of stock, shares converted (in warrants) | shares				340.9
Common stock, shares outstanding (in warrants) | shares							14,545			727.25				14,545
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of outstanding warrants					$ 5,281		$ 10	$ 10		$ 10						$ 443
Perk Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration transferred							1,300				$ 1,300
Recorded loss							2,193
Perk Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value loss in financial assets									$ 376
Discontinued Operations, Disposed of by Sale | Viggle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration received (in shares) | shares			1,370,000			1,370,000
Consideration transferred			$ 5,110
Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in warrants			$ 1,023				1,091
Fair value loss in financial assets							$ 503
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares issued (shares) | shares							1,013,068
Series E Preferred Stock | Rant, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Series E Preferred Stock issued (in shares) | shares		4,435,000
Shares issued for acquisition		$ 7,600
Series C Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible preferred stock fair value	$ 28,500
Charged to additional paid in capital	1,675
Other Expense | Perk Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Recorded loss							$ 2,193
Secured Debt | Rant, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount		3,000
Fair value of debt		$ 3,500
Conversion price (USD per share) | $ / shares		$ 5.20
Purchase Agreement July 12, 2016 | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount		$ 4,444					$ 4,444
Conversion price (USD per share) | $ / shares		$ 6.2660
Conversion Feature | Purchase Agreement July 12, 2016 | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt		$ 1,856
Warrants and Rights Subject to Mandatory Redemption | Purchase Agreement July 12, 2016 | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt		1,500
Debt discount		1,500
Debentures Subject to Mandatory Redemption | Purchase Agreement July 12, 2016 | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt discount		$ 1,856
Affiliated Entity | Line of Credit Grid Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit, amount outstanding	900
Note Exchange Agreement | Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes redeemed amount	$ 30,175
Note Exchange Agreement | Affiliated Entity | Series C Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares issued in conversion (shares) | shares	30,175
Conversion price (USD per share) | $ / shares	$ 1,000

XML

Fair Value Measurement (Market Value of Equity Interests) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2016 USD ($)
Perk Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss	$ 361
Translation gain	148
Cost
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	2,708
Cost | Perk Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	2,708
Market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	2,495
Market | Perk Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 2,495

XML

Fair Value Measurement (Fair Value Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 648	$ 0
Perk warrants		1,023
Unrealized losses for the period including in other income (expense), net		(375)
Unrealized losses for the period included in other income (expense), net	(503)
Sale of Perk warrants	(145)
Ending balance	0	648
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	10	10
Additions to Level 3	0
Additions to Level 3		0
Ending balance	$ 10	$ 10

XML

Subsequent Events (Details)																							1 Months Ended	3 Months Ended	7 Months Ended
	Oct. 28, 2016 USD ($)	Oct. 12, 2016 USD ($)	Oct. 10, 2016 USD ($) shares	Sep. 16, 2016	Aug. 22, 2016 USD ($) $ / shares shares	Aug. 19, 2016 USD ($) shares	Jul. 13, 2016 USD ($)	Jul. 12, 2016 USD ($) $ / shares shares	Jul. 08, 2016 USD ($) $ / shares shares	Dec. 28, 2015	Nov. 25, 2015 USD ($)	Oct. 30, 2015 USD ($)	Oct. 13, 2015 USD ($)	Sep. 29, 2015 USD ($)	Sep. 15, 2015 USD ($)	Sep. 08, 2015 USD ($)	Aug. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)	Jun. 24, 2015 USD ($)	Jun. 11, 2015 USD ($)	Oct. 24, 2014	May 10, 2012 $ / shares	Oct. 31, 2016	Sep. 23, 2016 USD ($)	Nov. 25, 2015 USD ($)	Sep. 30, 2016 USD ($) $ / shares shares	Sep. 29, 2016 USD ($)	Sep. 20, 2016 shares	Jul. 20, 2016 USD ($)	Jul. 18, 2016 USD ($)	Jul. 07, 2016 $ / shares	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 27, 2016 USD ($)	Dec. 03, 2015 shares	Jun. 30, 2015 USD ($) shares	Sep. 16, 2013 $ / shares
Subsequent Event [Line Items]
Shares issued (shares) | shares																																		437,500
Long-term debt																																$ 28,712,000			$ 24,091,000
Warrants, exercise price per share (in dollars per warrant) | $ / shares																						$ 12,800														$ 1,840
Warrants, exercise period																						3 years
Maximum ownership percentage																																4.99%
Common stock, shares outstanding (in shares) | shares																										3,056,353						3,023,753			1,169,156
Minimum bid price to comply with NASDAQ requirements | $ / shares																																$ 1
Contingent consideration																$ 2,250,000
Rant, Inc.
Subsequent Event [Line Items]
Liabilities assumed in acquisition								$ 1,990,000
Contingent consideration								$ 3,000,000
Line of Credit | Exchange Agreement
Subsequent Event [Line Items]
Outstanding principal amount																										$ 10,000,000
Line of Credit | Line of Credit Grid Note
Subsequent Event [Line Items]
Maximum borrowing capacity																																$ 10,000,000
Interest rate																				12.00%
Debt issue amount																																			$ 10,000,000
Draw on line of credit											$ 1,000,000	$ 600,000	$ 500,000	$ 1,000,000	$ 1,000,000		$ 2,000,000	$ 1,000,000	$ 2,000,000	$ 1,000,000					$ 10,100,000
Long-term debt																																$ 4,563,000			$ 3,000,000
Secured Debt | Rant, Inc.
Subsequent Event [Line Items]
Interest rate								12.00%
Outstanding principal amount								$ 3,000,000
Conversion price (USD per share) | $ / shares								$ 5.20
Convertible Debt | Exchange Agreement
Subsequent Event [Line Items]
Repayments of debt								$ 1,162,000
Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Interest rate								10.00%
Outstanding principal amount								$ 4,444,000																		$ 4,444,000
Proceeds from issuance of debt								$ 4,000,000
Conversion price (USD per share) | $ / shares								$ 6.2660
Shares available for conversion (up to) | shares								780,230
Minimum conversion price (USD per share) | $ / shares								$ 0.10
Debt callback percentage								120.00%
Debt default conversion percentage								115.00%
Debt default interest accrued (as a percent)								100.00%
Warrant | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Conversion price (USD per share) | $ / shares								$ 6.5280
Warrants, exercise period								5 years
Affiliated Entity | Line of Credit Grid Note
Subsequent Event [Line Items]
Line of credit, amount outstanding					$ 900,000
Affiliated Entity | Note Exchange Agreement
Subsequent Event [Line Items]
Notes redeemed amount					30,175,000
SIC III | Note Exchange Agreement
Subsequent Event [Line Items]
Notes redeemed amount					$ 3,150,000
Series C Convertible Preferred Stock
Subsequent Event [Line Items]
Preferred stock, shares outstanding (in shares) | shares																										33,175						3,000
Preferred stock, stated value (usd per share) | $ / shares																										$ 1,000						$ 1,000
Annual dividend rate, percent					12.00%																12.00%
Common Stock
Subsequent Event [Line Items]
Reverse stock split, conversion ratio				0.05						0.001
Shares issued (shares) | shares																										1,013,068
Common Stock | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Warrants issued | shares								354,650
Common Stock | SIC III
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares									890,898
Common Stock | Mr. Sillerman
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares									5,066,654
Series E Preferred Stock
Subsequent Event [Line Items]
Preferred stock, shares outstanding (in shares) | shares																										4,435
Preferred stock, stated value (usd per share) | $ / shares																															$ 1,000
Series C Preferred Stock
Subsequent Event [Line Items]
Preferred stock, shares outstanding (in shares) | shares																										33,175						3,000
Series C Preferred Stock | Affiliated Entity | Note Exchange Agreement
Subsequent Event [Line Items]
Conversion price (USD per share) | $ / shares					$ 1,000
Shares issued in conversion (shares) | shares					30,175
Series C Preferred Stock | SIC III
Subsequent Event [Line Items]
Preferred shares converted (in shares) | shares									3,000
Series C Preferred Stock | SIC III | Note Exchange Agreement
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares					3,150
Subsequent Event
Subsequent Event [Line Items]
Common stock, shares outstanding (in shares) | shares																												3,023,701
Subsequent Event | Rant, Inc.
Subsequent Event [Line Items]
Liabilities assumed in acquisition								$ 2,000,000
Contingent consideration								3,000,000
Subsequent Event | Conversion of MGT Sports Convertible Securities
Subsequent Event [Line Items]
Payment of interest			$ 16,000
Subsequent Event | Secured Debt | Rant, Inc.
Subsequent Event [Line Items]
Outstanding principal amount								$ 3,000,000
Subsequent Event | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Interest rate								10.00%
Outstanding principal amount								$ 4,444,000
Repayments of debt							$ 1,162,000
Proceeds from issuance of debt									$ 4,000,000
Conversion price (USD per share) | $ / shares								$ 6.266
Shares available for conversion (up to) | shares								780,230
Minimum conversion price (USD per share) | $ / shares								$ 0.10
Debt callback percentage									120.00%
Debt default conversion percentage									115.00%
Debt default interest accrued (as a percent)									100.00%
Payment of interest		$ 114,000
Amortization payment		$ 444,000
Percentage of holders of debentures for which waiver agreements were entered into		87.00%																					87.00%
Percent of holders of debentures for which waiver agreements were not entered into		13.00%																					13.00%
Amount due to purchases for which waiver agreements were not entered into		$ 696,000
Interest rate defaulted debt (as a percent)		18.00%
Subsequent Event | MGT Notes
Subsequent Event [Line Items]
Payment of interest			$ 16,000
Subsequent Event | Recapitalization Plan SIC III, SICIV and SIC VI
Subsequent Event [Line Items]
Notes redeemed amount						$ 34,800,000
Subsequent Event | Warrant | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Conversion price (USD per share) | $ / shares								$ 6.528
Warrants, exercise period								5 years
Subsequent Event | Conversion of MGT Sports Convertible Securities | Convertible Debt Securities
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares						470,247
Subsequent Event | Affiliated Entity | Line of Credit Grid Note
Subsequent Event [Line Items]
Line of credit, amount outstanding					$ 900,000
Subsequent Event | Affiliated Entity | Note Exchange Agreement
Subsequent Event [Line Items]
Notes redeemed amount					$ 30,174,969
Subsequent Event | Common Stock
Subsequent Event [Line Items]
Reverse stock split, conversion ratio				0.05
Shares issued (shares) | shares			136,304
Subsequent Event | Common Stock | Conversion of MGT Sports Convertible Securities
Subsequent Event [Line Items]
Common shares issued subject to certain adjustments (shares) | shares			136,304
Subsequent Event | Common Stock | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Warrants issued | shares								354,650
Subsequent Event | Common Stock | MGT Notes
Subsequent Event [Line Items]
Common shares issued subject to certain adjustments (shares) | shares			136,304
Subsequent Event | Common Stock | Conversion of Warrants
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares						3,722,224
Subsequent Event | Common Stock | Affiliated Entity | Series C Conversion to Common Stock
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares						21,739,892
Subsequent Event | Common Stock | SIC III
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares									890,898
Subsequent Event | Common Stock | Mr. Sillerman
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares									5,066,654
Subsequent Event | Common Stock | Aegis Capital Corporation | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Warrants, exercise price per share (in dollars per warrant) | $ / shares								$ 6.528
Warrants issued | shares								53,200
Subsequent Event | Series E Preferred Stock | Rant, Inc.
Subsequent Event [Line Items]
Shares issued (shares) | shares								4,435
Subsequent Event | Series E Preferred Stock | Conversion of Rant Inc Convertible Securities
Subsequent Event [Line Items]
Shares issued in conversion (shares) | shares						9,484,691
Subsequent Event | Series C Preferred Stock | Affiliated Entity | Note Exchange Agreement
Subsequent Event [Line Items]
Conversion price (USD per share) | $ / shares					$ 1,000
Shares issued in conversion (shares) | shares					30,175
Subsequent Event | Series C Preferred Stock | Affiliated Entity | Amended Series C Certificate of Designations
Subsequent Event [Line Items]
Preferred stock, stated value (usd per share) | $ / shares					$ 1,000
Annual dividend rate, percent					12.00%
Preferred stock redemption premium (as a percent)					6.00%
Percentage of public offering equity value					33.00%
Stock price threshold (in dollars per share) | $ / shares					$ 5.00
Subsequent Event | Series C Preferred Stock | Affiliated Entity | Series C Conversion to Common Stock
Subsequent Event [Line Items]
Preferred shares converted (in shares) | shares						3,000
Subsequent Event | Series C Preferred Stock | SIC III
Subsequent Event [Line Items]
Preferred shares converted (in shares) | shares									3,000
Exchange Agreement
Subsequent Event [Line Items]
Common stock outstanding value (at least)									$ 10,000,000
Share exchange price (USD per share) | $ / shares									$ 5.20
Exchange Agreement | Subsequent Event
Subsequent Event [Line Items]
Common stock outstanding value (at least)									$ 10,000,000
Share exchange price (USD per share) | $ / shares									$ 5.20
Amended Exchange Agreement | Line of Credit | Exchange Agreement
Subsequent Event [Line Items]
Debt issue amount																														$ 2,000,000
Additional draw amount																														5,000,000
Remaining borrowing capacity																														3,605,000
Amount drawn on facility																														1,405,000
Amended Exchange Agreement | Subsequent Event | Line of Credit
Subsequent Event [Line Items]
Debt issue amount																														2,000,000
Remaining borrowing capacity																														5,000,000
Amended Exchange Agreement | Subsequent Event | Line of Credit | Exchange Agreement
Subsequent Event [Line Items]
Debt issue amount																														2,000,000
Additional draw amount																														5,000,000
Remaining borrowing capacity																														4,291,000
Amount drawn on facility																														$ 1,609,000
Amendment to Securities Purchase Agreement | Affiliated Entity
Subsequent Event [Line Items]
Guaranteed line of credit																													$ 6,000,000
Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit | Affiliated Entity
Subsequent Event [Line Items]
Current carrying value																													1,000,000
Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit | Affiliated Entity | Sillerman Investment Company VI LLC
Subsequent Event [Line Items]
Guaranteed line of credit																													5,000,000
Amendment to Securities Purchase Agreement | Financial Standby Letter of Credit | Affiliated Entity | Mr. Sillerman
Subsequent Event [Line Items]
Guaranteed line of credit																													1,000,000
Amendment to Securities Purchase Agreement | Subsequent Event | Affiliated Entity
Subsequent Event [Line Items]
Guaranteed line of credit																													6,000,000
Amendment to Securities Purchase Agreement | Subsequent Event | Financial Standby Letter of Credit | Affiliated Entity
Subsequent Event [Line Items]
Current carrying value																													1,000,000
Amendment to Securities Purchase Agreement | Subsequent Event | Financial Standby Letter of Credit | Affiliated Entity | Sillerman Investment Company VI LLC
Subsequent Event [Line Items]
Guaranteed line of credit																													5,000,000
Amendment to Securities Purchase Agreement | Subsequent Event | Financial Standby Letter of Credit | Affiliated Entity | Mr. Sillerman
Subsequent Event [Line Items]
Guaranteed line of credit																													$ 1,000,000
Secured Revolving Line of Credit | Affiliated Entity | Sillerman Investment Company VI LLC
Subsequent Event [Line Items]
Maximum borrowing capacity																																	$ 1,200,000
Interest rate																																	12.00%
Secured Revolving Line of Credit | Subsequent Event | Affiliated Entity | Sillerman Investment Company VI LLC
Subsequent Event [Line Items]
Draw on line of credit																								$ 315,000
DDGG | Subsequent Event
Subsequent Event [Line Items]
Purchase price commitment																								$ 144
Perk Agreement
Subsequent Event [Line Items]
Consideration transferred																										$ 1,300,000	$ 1,300,000
Debt Instrument, Redemption, Period One | Subsequent Event | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Waiver Payment (as a percent)																							10.00%
Debt Instrument, Redemption, Period Two | Subsequent Event | Convertible Debt | Purchase Agreement July 12, 2016
Subsequent Event [Line Items]
Waiver Payment (as a percent)																							10.00%
SIC IV | Line of Credit | Subsequent Event
Subsequent Event [Line Items]
Remaining borrowing capacity	$ 3,785,000
Amount drawn on facility	2,115,000
Draw on line of credit	$ 505,000