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REVENUE (Tables)
3 Months Ended
Sep. 30, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of adoption of ASC 606
The effect of adoption of this new guidance on the Condensed Consolidated Balance Sheet as of July 1, 2018 was to increase prepaid expenses and other current assets, other assets, and deferred revenue, with an offsetting decrease in the opening accumulated deficit, as follows:
 
June 30, 2018
 
 
 
July 1, 2018
($ in thousands)
As Reported
 
Adjustment
 
Revised
 
 
 
 
 
 
ASSETS
 
 
 
 
 
Prepaid expenses and other current assets
$
929

 
$
251

 
$
1,180

Other assets
720

 
1,254

 
1,974

LIABILITIES
 
 
 
 
 
Deferred revenue
511

 
1,127

 
1,638

SHAREHOLDERS' EQUITY
 
 
 
 
 
Accumulated deficit
(232,748
)
 
376

 
(232,372
)
The impact of the adoption of ASC 606 by financial statement line item within the Condensed Consolidated Balance Sheet as of September 30, 2018 and Condensed Consolidated Statement of Operations for the three months ended September 30, 2018 is as follows:
 
September 30, 2018
 
 
 
September 30, 2018
($ in thousands)
As Reported
 
Adjustment
 
Under Legacy Guidance
 
 
 
 
 
 
BALANCE SHEET
 
 
 
 
 
Prepaid expenses and other current assets
$
1,463

 
$
(253
)
 
$
1,210

Other assets
1,900

 
(1,264
)
 
636

Deferred revenue
1,428

 
(1,116
)
 
312

Accumulated deficit
(238,692
)
 
(400
)
 
(239,092
)
STATEMENT OF OPERATIONS
 
 
 
 


License and transaction fees
28,971

 
(11
)
 
28,960

Selling, general and administrative
9,450

 
12

 
9,462

Net loss
(6,320
)
 
(23
)
 
(6,343
)
Performance obligations
The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:
($ in thousands)
As of September 30, 2018
 
 
2020
7,551

2021
9,256

2022
7,443

2023
5,887

2024 and thereafter
3,629

Total
$
33,766

Contract liability
The Company’s contract liability (i.e., deferred revenue) balances are as follows:
 
 
Three months ended September 30,
($ in thousands)
 
2018
 
 
 
Deferred revenue, beginning of the period
 
$
511

Plus: adjustment for adoption of ASC 606
 
1,127

Deferred revenue, beginning of the period, as adjusted
 
1,638

Deferred revenue, end of the period
 
1,428

Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period
 
156