XML 29 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Significant Events
3 Months Ended
May 31, 2016
Significant Events [Abstract]  
Other Significant Transactions [Text Block]
Other Significant Events
On March 17, 2016, The Nasdaq Stock Market LLC ("Nasdaq") filed with the United States Securities and Exchange Commission Form 25-NSE to formally delist the Company's Preferred Stock from the Nasdaq Global Select Market (formerly listed under the symbol "EMMSP"). The delisting occurred on March 28, 2016. Pursuant to the Company's articles of incorporation, each outstanding share of Preferred Stock was automatically converted on April 4, 2016, into the Company's Class A common stock at a ratio of 2.80 shares of Class A common stock for each share of Preferred Stock.
On both March 1, 2016 and June 7, 2016, Emmis contributed an additional $0.5 million to Digonex in the form of convertible debt. Emmis currently owns rights that are convertible into at least 78% of the common equity of Digonex.