Great Elm Capital 10-Q 15 May 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 14, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	GEC
Entity Registrant Name	Great Elm Capital Group, Inc.
Entity Central Index Key	1,082,506
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		25,467,732

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Current assets:
Cash and cash equivalents	$ 44,282	$ 45,894
Restricted cash	622
Management fees receivable - related party	692	549
Related party dividend receivable	163	163
Related party receivable	300	348
Investments, at fair value (cost $30,000)	18,133	20,886
Prepaid and other current assets	354	174
Total current assets	64,546	68,014
Rent receivable, net of current portion (restricted)	46
Incentive fees receivable	3,491	2,757
Real estate assets, net	55,868
Property and equipment, net	42	41
Identifiable intangible assets, net	9,659	4,102
Right to use assets, net	1,564	1,688
Other assets, net	92	92
Total assets	135,308	76,694
Current liabilities:
Accounts payable	221	52
Accrued liabilities	1,611	1,019
Accrued legal expense	317	164
Accrued compensation	60	214
Lease liability	174	421
Liabilities related to discontinued operations	3,608	3,608
Senior note payable, current portion	1,960
Related party note payable, current portion	76	250
Total current liabilities	8,027	5,728
Lease liability, net of current portion	1,507	1,640
Warrant liability		186
Senior note payable	50,130
Subordinated note payable	5,829
Related party note payable	3,224	2,924
Other liabilities	296
Total liabilities	69,013	10,478
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.001 per share; 5,000 authorized and zero outstanding
Common stock, par value $0.001 per share; 350,000,000 shares authorized; and 25,467,732 shares issued and 24,706,115 shares outstanding at March 31, 2018; and 24,258,847 shares issued and 23,200,153 shares outstanding at June 30, 2017	25	23
Additional paid-in-capital	3,302,063	3,293,683
Accumulated deficit	(3,236,039)	(3,227,480)
Total Great Elm Capital Group, Inc.'s stockholders' equity	66,049	66,226
Non-controlling interest	246	(10)
Total stockholders' equity	66,295	66,216
Total liabilities and stockholders' equity	$ 135,308	$ 76,694

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Statement Of Financial Position [Abstract]
Investments, cost basis	$ 30,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	25,467,732	24,258,847
Common stock, shares outstanding	24,706,115	23,200,153

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Management and administration fees	$ 975	$ 966	$ 2,766	$ 1,428
Incentive fees	(1,766)	1,000	735	1,880
Rental income	343		343
Total revenue	(448)	1,966	3,844	3,308
Operating costs and expenses:
Investment management expenses	1,090	1,658	6,423	2,747
Real estate expenses	21		21
Amortization and depreciation	249	1,546	562	2,564
General and administrative	1,728	1,436	4,745	2,677
Total operating costs and expenses	3,088	4,640	11,751	7,988
Operating income (loss)	(3,536)	(2,674)	(7,907)	(4,680)
Dividends and interest income	564	490	2,014	816
Unrealized loss on investment in GECC	(1,219)	(570)	(2,753)	(7,619)
Interest expense, net	(225)	(108)	(360)	(6,211)
Other income, net		(20)	5	(9)
Loss from continuing operations, before income taxes	(4,416)	(2,882)	(9,001)	(17,703)
Benefit from income taxes	(182)	(85)	(182)	(1,049)
Loss from continuing operations	(4,234)	(2,797)	(8,819)	(16,654)
Discontinued operations:
Income (loss) from discontinued operations, net of tax	(155)		(155)	2,308
Income (loss) from discontinued operations, net of tax	(155)		(155)	2,308
Net loss	(4,389)	(2,797)	(8,974)	(14,346)
Less: Net income (loss) attributable to non- controlling interest	(28)	(278)	(415)	(444)
Net loss attributable to Great Elm Capital Group, Inc.	$ (4,361)	$ (2,519)	$ (8,559)	$ (13,902)
Basic and diluted earnings (loss) per share attributable to Great Elm Capital Group, Inc. from:
Continuing operations	$ (0.17)	$ (0.11)	$ (0.35)	$ (1.14)
Discontinued operations	(0.01)		(0.01)	0.16
Net loss per share	$ (0.18)	$ (0.11)	$ (0.36)	$ (0.98)
Weighted average shares outstanding:
Basic and diluted	24,612	23,187	24,132	14,177

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (4,389)	$ (2,797)	$ (8,974)	$ (14,346)
Total comprehensive loss	(4,389)	(2,797)	(8,974)	(14,346)
Comprehensive income (loss) attributable to non- controlling interest	8	(278)	(379)	(444)
Total comprehensive loss attributable to Great Elm Capital Group	$ (4,397)	$ (2,519)	$ (8,595)	$ (13,902)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (8,974)	$ (14,346)
Loss (income) from discontinued operations	155	(2,308)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	562	2,564
Stock-based compensation	3,602	1,219
Unrealized loss on investments at fair value	2,753	7,619
Other non-cash (income) expense, net	55	(36)
Amortization of debt discount, premium and issuance costs	58	2,802
Changes in operating assets and liabilities:
Related party receivables, net	(877)	(3,494)
Prepaid assets, deposits, and other assets	(145)	(121)
Accounts payable and accrued liabilities	(74)	(2,684)
Net cash used in operating activities - continuing operations	(2,885)	(8,785)
Net cash used in operating activities - discontinued operations	(155)	(961)
Net cash used in operating activities	(3,040)	(9,746)
Cash flows from investing activities:
Acquisition of subsidiary	(2,353)	(80)
Deconsolidation of GECC into equity method investment		(30,000)
Purchases of property and equipment	(13)
Net cash used in investing activities	(2,366)	(30,080)
Cash flows from financing activities:
Principal payment on related party note payable		(36,838)
Principal payment on senior note payable	(156)
Proceeds from issuance of common stock, gross	4,572	45,000
Payment of equity issuance costs		(2,344)
Net cash provided by financing activities	4,416	5,818
Net increase (decrease) in cash, cash equivalents, and restricted cash	(990)	(34,008)
Cash, cash equivalents, and restricted cash at beginning of period	45,894	80,711
Cash, cash equivalents, and restricted cash at end of period	44,904	46,703
Cash paid for interest	240	3,319
Supplemental disclosure of non-cash investing and financing activities:
Issuance of related party note payable in acquisition		3,424
Warrant liability settled with common stock issuance	194
Assumption of senior and subordinated notes payable in real estate acquisition	$ 58,016
Issuance of equity-linked instruments classified as warrant liability		$ 216

Nature of Operations

Nature of Operations	9 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Great Elm Capital Group, Inc. (the Company

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. Use of Estimates The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America ( US GAAP Principles of Consolidation The Company consolidates the assets, liabilities, and operating results of its wholly-owned subsidiaries; majority-owned subsidiaries; and subsidiaries in which we hold a controlling financial interest as of the financial statement date. In most cases, a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate a variable interest entity ( VIE GECM GP Corp Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the Company’s equity. Results of operations attributable to the non-controlling interests are included in the Company’s consolidated statements of operations. Segments The Company has three segments: investment management, real estate, and general corporate. The Company regularly reviews each segment for purposes of allocating resources and assessing performance. C ash, Cash Equivalents, and Restricted Cash Cash and cash equivalents are comprised of cash and highly liquid investments with original maturities of 90 days or less at the date of purchase. Cash equivalents consist primarily of money market funds. The Company is exposed to credit risk in the event of default by the financial institutions or the issuers of these investments to the extent the amounts on deposit or invested are in excess of amounts that are insured. The Company’s restricted cash consists of rental income received in advance and a portion of prior period rental income that is reserved for capital and certain operating expenses in connection with the Company’s real estate assets. Revenue Recognition The Company recognizes revenue on services at the time when services are performed, and the following conditions are met: persuasive evidence of an arrangement exists, the service is complete, the price is fixed and determinable, and collection of the proceeds is reasonably assured. If the conditions for revenue recognition are not met, the Company defers the revenue until all conditions are met. Investment Management Revenue The Company recognizes revenue from its investment management business at amounts that reflect the consideration to which it expects to be entitled in exchange for providing services to its customer. Investment management revenue primarily consists of fees based on a percentage of assets under management; fees based on the performance of managed assets; and administrative fees; as follows: Management Fees Under GECC’s investment management agreement with GECM, the base management fee from GECC is calculated at an annual rate of 1.50% of GECC’s average adjusted gross assets. The base management fee is calculated based on the average value of GECC’s gross assets, excluding cash and cash equivalents, at the end of the two most recently completed calendar quarters. Incentive Fees Incentive fees earned from GECC and the separate accounts managed by GECM are recognized based on investment performance during the period, subject to the achievement of minimum return levels or high-water marks, in accordance with the terms of the respective investment management agreements. Incentive fees range from 5.0% to 20.0%. Incentive fees are recorded based upon an assumed liquidation of net assets on the reporting date and the distribution of the net proceeds in accordance with the respective investment management agreements. Incentive fees recorded may be subject to reversal to the extent the amount recorded exceeds the amount due to GECM based on negative investment performance after the reporting date. Accrued but unpaid incentive fees and deferred incentive fees due from GECC as of the reporting date are recorded in related party investment management fees receivable in the accompanying consolidated balance sheet. Incentive fees realized and collected are not subject to reversal. As of March 31, 2018 and June 30, 2017, approximately $2.0 million and $1.7 million, respectively, of incentive fees recognized in revenue were subject to reversal. In March 2018, the Company reversed approximately $2.1 million of incentive fees earned by GECM under the investment management agreement and recognized in revenue in prior periods. Generally speaking, GECM earns 20% of GECC’s pre incentive fee net investment income ( NII Real Estate Revenue Rental income from operating leases is recognized on a straight-line basis, based on contractual lease terms with fixed and determinable increases over the non-cancellable term of the related lease when collectability is reasonably assured. Under the terms of the lease, the Company may recover from the tenant certain expenses, including: real estate taxes, insurance and other operating expenses. The recovery of these expenses is recognized in rental income in the accompanying consolidated statements of operations, in the same periods as the expenses are incurred. These expenses recognized in both revenue and expense may fluctuate from period to period based on actual expense amounts. Investment Management Expenses The Company classifies all direct expenses of its investment management segment including: payroll, stock-compensation, and related taxes and benefits; facilities costs; and professional fees; in investment management expenses in the accompanying consolidated statements of operations. GECM has a three-year contractual consulting arrangement with a third party to provide services in exchange for 26% of the base management fee paid by GECC. Real Estate Expenses The Company classifies all direct expenses of its real estate segment, including: real estate taxes, insurance, property management fees and other operating expenses in real estate expenses in the accompanying consolidated statements of operations. Under the terms of the lease, the Company may recover from the tenant certain expenses including; real estate taxes, insurance and other operating expenses; the recovery of these expenses is recognized in rental income in the accompanying consolidated statements of operations, in the same periods as the expense are incurred. Property, Equipment, and Real Estate Assets The Company records property and equipment at historical cost and its real estate assets at the estimated fair value on the date of acquisition. The Company recognizes depreciation in amounts sufficient to match the cost of depreciable assets to operations over their estimated service lives, lease length, or productive value. The Company capitalizes expenditures for improvements that significantly extend the useful life of an asset. The Company charges expenditures for maintenance and repairs to operations in the periods incurred. Depreciation is recognized using the straight-line method over their estimated useful lives as follows: Description Life in Years Buildings 55 Tenant improvements 12 Site improvements 16 Leasehold improvements 7 Furniture and fixtures 1 to 3 Concentration of Risk and Related Parties The Company has placed substantially all of its cash with two well established financial institutions, and its cash equivalents consist primarily of money market funds with the same institutions. The Company is exposed to credit risk related to the potential inability to access liquidity in the financial institution where its cash and cash equivalents are concentrated. The Company’s net investment revenue and receivables from continuing operations for the periods presented were attributable to the management of one investment vehicle, GECC. GECC is a related party, based on the Company owning approximately 18% of the outstanding common stock of GECC. The Company’s rental revenue from continuing operations is derived from one tenant. A portion of (MAST Capital Identifiable Intangible Assets The Company amortizes its identifiable intangible assets over their estimated useful lives using applicable discounted cash flow attribution and straight-line methods. The Company currently amortizes its identifiable intangible assets over periods ranging from twelve to fifteen years. Reclassifications The Company reclassified the prior period presentation by increasing its administrative fee income and expense by $0.4 million and $0.4 million, respectively, for the three and nine months ended March 31, 2017, to conform to the current period presentation adopted for the consolidated statement of operations for the year ended June 30, 2017 and the current periods. These reclassifications did not have an impact on the Company’s previously presented net results of operations. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ( FASB In August 2015, the FASB issued new guidance deferring the effective date of the new revenue recognition standard by one year. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. 1. Identifying the contract(s) with a customer. 2. Identifying the performance obligations in the contract. 3. Determining the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The new standard permits for two alternative implementation methods, the use of either (1) full retrospective application to each prior reporting period presented or (2) modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opening balance of retained earnings in the period of adoption. The Company plans to adopt the new standard in the first quarter of its 2019 fiscal year using the modified retrospective transition method. The Company has evaluated the potential impacts of the new revenue recognition standard and has determined that the recognition of a portion of its investment management incentive fees are to be deferred upon implementation. As of March 31, 2018, the Company preliminarily estimated approximately $0.4 million of the total incentive fees receivable that if not collected prior to the first quarter of its 2019 fiscal year, will be retroactively adjusted upon adoption of the new revenue standard. The Company is continuing to evaluate the new guidance for any other impacts adoption may have on the Company’s consolidated financial position, results of operations, and cash flows. In January 2016, the FASB issued amended guidance on the classification and measurement of financial instruments. The new guidance will impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified the need for a valuation allowance on deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period using a modified retrospective application to all outstanding instruments, with a cumulative effect adjustment recorded to opening retained earnings as of the beginning of the first period in which the guidance becomes effective. However, changes to the accounting for equity securities without a readily determinable fair value will be applied prospectively. Early application is permitted. This amended guidance is not expected to have a material impact on the Company’s financial statements. In November 2016, the FASB issued amended guidance on classification and presentation of restricted cash on the statement of cash flows. Under the new guidance, reporting entities are required to explain the changes in the combined total of restricted and unrestricted balances in the statement of cash flows. Therefore, amounts generally described as restricted cash or restricted cash equivalents (hereinafter referred to as “restricted cash”) should be combined with unrestricted cash and cash equivalents when reconciling the beginning and end of period balances on the statement of cash flows. Reporting entities will also be required to disclose how the statement of cash flows reconciles to the balance sheet in any situation in which the balance sheet includes more than one line item of cash, cash equivalents, and restricted cash. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period using a retrospective transition method to each period presented. Early application is permitted. The Company began to apply this guidance in March 2018.

Investments, at Fair Value

Investments, at Fair Value	9 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Investments, at Fair Value	3. Investments, at Fair Value The Company owns approximately 18% (or 1,966,667 shares) of the outstanding shares of GECC and values its ownership based on the NASDAQ-listed market price of GECC common stock (a Level 1 input in accordance with the US GAAP fair value hierarchy). During the three and nine months ended March 31, 2018, the Company recorded an unrealized loss of $1.2 million and $2.8 million, respectively, on the fair value of its investment in GECC. For the three and nine months ended March 31, 2017, the Company recognized a net unrealized loss on its investment in GECC of $0.6 million and $7.6 million, respectively.

Separation Agreement

Separation Agreement	9 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Separation Agreement	4. Separation Agreement As part of the entry into the investment management business in November 2016, the Company acquired assets, assumed liabilities; and entered into cost and profit sharing agreements with MAST Capital, a related party. In consideration for the assets acquired, the Company’s majority-owned subsidiary, GP Corp. issued a senior secured note payable ( GP Corp. Note Cost Sharing Agreement MAST Warrant In September 2017, the Company entered into a Separation Agreement with MAST Capital. The Separation Agreement, contemplated, among other things, an amendment of the GP Corp. Note to be in an aggregate principal amount of $3.3 million, the issuance of a warrant to MAST Capital to purchase 420,000 shares of common stock with an exercise price based on the average of the quoted market prices for the ten days preceding notice of exercise, the termination of the Cost Sharing Agreement, and the exchange of the MAST Warrant for 54,733 shares of common stock of the Company.

Real Estate Asset Acquisition

Real Estate Asset Acquisition	9 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Real Estate Asset Acquisition	5. Real Estate Asset Acquisition In March 2018, through its majority-owned subsidiary, Great Elm FM Holdings, the Company acquired an 80.1% interest in CRIC IT Fort Myers LLC ( Property Owner Property To acquire its interest in the Property Owner, the Company paid a cash purchase price of approximately $2.7 million, incurred transaction costs of approximately $0.3 million, and issued a 19.9% non-controlling interest in the Property Owner valued at $0.7 million. The transaction was an asset acquisition as substantially all of the value of the acquired assets related to the Property. The Property Owner had two notes issued with a fair value of approximately $58 million. See Note 11 – Borrowings. The following table summarizes the acquisition cost and the allocation to the assets acquired and liabilities assumed based on the relative fair values on the date of acquisition (in thousands): Amount Cash consideration $ 2,700 Cash and restricted cash acquired (606 ) Transaction costs 261 Non-controlling interests 671 Total consideration, net of cash and restricted cash acquired $ 3,026 Buildings $ 43,276 Land and site improvements 9,170 In-place lease intangible asset 6,028 Tenant improvements 3,500 Other assets 35 Senior note payable assumed (52,227 ) Subordinated note payable assumed (5,789 ) Deferred tax liability (478 ) Other liabilities assumed (489 ) Non-controlling interests (671 ) Net assets acquired $ 2,355 The assigned values were based on the relative fair value of the net acquired assets. The valuation of the Property considered both an income and cost approach to determine the fair value of the buildings, leasehold improvements, land, and site improvements. The value of the in-place lease intangible was based on an income approach that considered the value of the lease to the Company. These valuations included significant non observable inputs to the valuation model and therefore were level 3 fair value measurement in the fair value hierarchy. The assumed debt obligations were valued using an income method considering market interest rates for similar instruments, which is a level 2 fair value measurement. In connection with the acquisition, the acquired tax basis differed from the assigned book basis and the simultaneous equation method was used to assign the value of the asset and the related deferred tax liability. The reduction of the valuation allowance of the Company of $0.2 million directly attributable to the transaction was recognized as a benefit to the income tax provision in the three months ended March 31, 2018. Lease Information The Property is fully leased, on a triple net basis, to Gartner, Inc. ( Gartner Leases The following table summarizes the base monthly rents for the remaining lease term (in thousands): Year Base Rent Payments 2018 (Q4 payments only) $ 999 2019 4,030 2020 4,120 2021 4,213 2022 4,312 2023 4,420 Thereafter 33,203 Total base rent $ 55,297

Fixed Assets

Fixed Assets	9 Months Ended
	Mar. 31, 2018
Assets [Abstract]
Fixed Assets	6. Fixed Assets The Company’s fixed assets consist of its revenue-producing real estate assets and furniture, fixtures, and leasehold improvements used in its corporate operations. The following table details the Company’s fixed assets (in thousands, except useful lives): As of March 31, 2018 As of June 30, 2017 Weighted Average Useful Life (in years) Buildings $ 43,276 $ — 55 Tenant improvements 3,500 — 12 Land 7,121 — n/a Site improvements 2,049 — 16 Leasehold improvements 45 31 7 Furniture and fixtures 26 26 2 Fixed assets, gross 56,017 57 Accumulated depreciation (107 ) (16 ) Fixed assets, net $ 55,910 $ 41 The Company recognized total depreciation expense of $0.08 million and $0.09 million for the three and nine months ended March 31, 2018, respectively. The Company incurred immaterial depreciation expense for the three and nine months ended March 31, 2017.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions (not disclosed elsewhere)	7. Related Party Transactions (not disclosed elsewhere) The Company’s wholly-owned subsidiary, GECM, manages GECC’s investment portfolio. The Company owns approximately 18% of the outstanding shares of GECC, and the Company’s Chief Executive Officer is also the Chief Executive Officer of GECC and Chief Investment Officer of GECM, in addition to being a member of the board of directors of the Company and chairman of the board of GECC. The Company’s President and Chief Operating Officer is also the Chief Operating Officer, Chief Compliance Officer and General Counsel of GECM and the Chief Compliance Officer of GECC. As of and for the three In Thousands months ended March 31, 2018 2017 Investment in GECC Unrealized loss on investment in GECC recorded in the period $ (1,219 ) $ (570 ) GECC dividends recorded in the period $ 490 $ 490 Management of GECC Investment management fees earned in the period $ (1,074 ) $ 1,582 GECC administration fees earned in the period $ 283 $ 384 GECC administration expenses incurred in the period $ (283 ) $ (384 ) Net receivable due from GECC at the end of the period $ 4,646 $ 3,436 Profit Sharing with GP Corp. GP Corp. Note balance at the end of the period $ 3,300 $ 3,424 GP Corp. Note interest incurred in the period $ (39 ) $ (108 ) GP Corp. net loss attributable to Great Elm Capital Group, Inc. $ (139 ) $ (1,298 ) As of and for the nine In Thousands months ended March 31, 2018 2017 Investment in GECC Unrealized loss on investment in GECC recorded in the period $ (2,753 ) $ (7,619 ) GECC dividends recorded in the period $ 1,862 $ 816 Management of GECC Reimbursement of GECC formation expenses for the period $ — $ 2,989 Investment management fees for the period $ 2,585 $ 2,862 GECC administrative fees earned in the period $ 916 $ 446 GECC administrative expenses incurred during the period $ (916 ) $ (446 ) Net receivable due from GECC at the end of the period $ 4,646 $ 3,436 Profit Sharing with GP Corp. GP Corp. Note balance at the end of the period $ 3,300 $ 3,424 GP Corp. Note interest incurred in the period $ (173 ) $ (175 ) GP Corp. net loss attributable to Great Elm Capital Group, Inc. $ (1,690 ) $ (1,964 ) For the nine months ended March 31, 2018, the Company received cash proceeds totaling $4.6 million from the exercise of 1,266,000 warrants by a designee of Northern Right Capital. Matthew A. Drapkin, a member of the Company’s board of directors, is the Chief Executive Officer of Northern Right Capital.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity Stock Compensation Performance Shares (Restricted Stock Awards) During the nine months ended March 31, 2018, the Company granted 57,416 restricted stock awards that carry both performance and service conditions to vest with an estimated grant date fair value of approximately $0.2 million. As of March 31, 2018, the Company had 761,617 restricted stock awards that carry both performance and service conditions to vest. The awards vest over a five-year service period, with the first twenty percent of the award vesting on the first anniversary of the grant, and the remaining award vesting quarterly through November 3, 2021. In addition, the restricted stock awards are subject to pro-rated forfeiture based on the collection of cumulative fees under the GECC investment management agreement of at least $40 million for the five-year period ended November 3, 2021. The Company estimates the performance condition is probable of being achieved. The Company accounts for forfeitures of the restricted stock awards in the period incurred. During the nine months ended March 31, 2018, 256,808 restricted stock awards were forfeited. All previously recognized compensation cost associated with the forfeiture during the period, totaling $0.5 million, was reversed. Additionally, in September 2017, the Company modified all of the outstanding restricted stock awards to include a change in control acceleration event. This modification did not result in the recognition of an additional compensation cost. For the three and nine months ended March 31, 2018, the Company recognized compensation cost totaling $0.4 million and $0.8 million, respectively, associated with the performance-based awards. For the three and nine-month periods ended March 31, 2017, the Company recognized compensation cost totaling $0.5 million and $0.8 million, respectively. The following table summarizes the Company’s restricted stock award activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Restricted Grant Date Restricted Stock Awards and Units Stock Fair Value Outstanding at June 30, 2017 1,147 $ 3.88 Granted 75 3.57 Vested (185 ) 3.55 Forfeited (257 ) 3.95 Outstanding at March 31, 2018 780 $ 3.91 Stock Options During the nine months ended March 31, 2018, the Company issued 2,082,736 stock options with an estimated grant date fair value of $4.1 million. The Company utilizes a Black-Scholes option pricing model to estimate the fair value of its option awards. The assumptions used to value the stock options granted during the nine-months ended March 31, 2018 consisted of: expected volatilities between 60.8 to 63.4%; no expected dividend yields; risk-free rates between 1.5 and 2.5%; and expected terms between 3 and 6.5 years. The following table summarizes the Company’s option award activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Weighted Remaining Average Contractual Aggregate Options Options Exercise Price Term (years) Intrinsic Value Outstanding at June 30, 2017 722 $ 7.46 Options granted 2,083 3.60 Exercised — — Forfeited, cancelled or expired (128 ) 10.45 Outstanding at March 31, 2018 2,677 $ 4.31 7.69 $ 958 Exercisable at March 31, 2018 864 5.83 6.30 213 Vested and expected to vest as of March 31, 2018 2,677 $ 4.31 7.69 $ 958 During the three months and nine months ended March 31, 2018, the Company recognized total stock-based compensation associated with all restricted stock and stock options of $0.9 million and $3.6 million, respectively. During the three months and nine months ended March 31, 2017, the Company recognized total stock based compensation associated with all restricted stock and stock options of $0.6 million and $1.3 million, respectively. As of March 31, 2018, unrecognized compensation costs associated with outstanding stock and stock-linked awards totaled approximately $4.5 million. GP Corp. Stock - Non-Controlling Interest In September 2017, the Company eliminated the vesting provisions and removed the call rights for the GP Corp. stock owned by employees of the Company. As a result of the elimination, the Company recognized stock-based compensation expense of $1.5 million for the nine months ended March 31, 2018, equal to the estimated fair value of the non-controlling interest held by our employees in GP Corp. Other Equity Transactions Warrants During the nine months ended March 31, 2018, the Company issued warrants to purchase 1,686,000 shares of common stock with an estimated grant date fair value of $0.05 million. The exercise price of the warrants is variable and based on the average of quoted market prices for the ten days preceding notice of exercise. The Company utilized a Monte-Carlo simulation model to estimate the fair value of its equity-classified warrant issuances. The following table illustrates the Company’s warrant activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Weighted Remaining Average Contractual Aggregate Warrants Shares Exercise Price Term (years) Intrinsic Value Outstanding at June 30, 2017 55 $ 0.01 Granted 1,686 3.60 Exercised (1,266 ) 3.60 Forfeited, cancelled or expired (55 ) 0.01 Outstanding at March 31, 2018 420 $ 4.00 1.47 $ — Exercisable and vested at March 31, 2018 420 $ 4.00 1.47 $ — During the nine months ended March 31, 2018, the Company received cash proceeds totaling $4.6 million from the exercise of 1,266,000 warrants by a designee of Northern Right Capital. Matthew A. Drapkin, a member of the Company’s board of directors, is the Chief Executive Officer of Northern Right Capital. The Company had classified the MAST Warrant as a liability and valued, on a recurring basis, using a Black-Scholes-Merton option pricing model and Level 3 inputs within the fair value hierarchy. In September 2017, the Company exchanged the MAST Warrant for 54,733 shares of common stock. The following table sets forth a summary of the changes in the fair value of the Company’s warrant liability that was measured at fair value on a recurring basis (in thousands): March 31, 2018 June 30, 2017 Beginning of period $ 186 $ — Aggregate fair value of warrant issued — 216 Re-measurement of warrant liability loss (gain) 8 (30 ) Settlement (194 ) — End of period $ — $ 186

Lessee Operating Leases

Lessee Operating Leases	9 Months Ended
	Mar. 31, 2018
Leases Operating [Abstract]
Lessee Operating Leases	9. Lessee Operating Leases The Company entered into a lease for office space located in Waltham, MA. On the commencement date of the lease, the non-cancellable term was for eighty-eight months from the occupancy date of June 1, 2017 and contains an option to extend for an additional sixty-month period. The lease payments commenced on October 1, 2017, four months after the Company began to occupy the space. On an annual basis, the lease payments increase at an average rate of approximately 2.4% from $28 to $32 thousand per month. As of March 31, 2018, the Company had a remaining right lease liability of approximately $1.7 million related to its current office space.

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	10. Segment Information The Company allocates resources based on three operating segments: investment management, real estate and general corporate. Prior to the acquisition of the investment management business in November 2016, the Company viewed all of its operations as a single integrated business. The following table illustrates the segment information (in thousands): For the Three Months Ended March 31, 2018 For the Three Months Ended March 31, 2017 Investment Management Real Estate General Corporate Total Investment Management Real Estate General Corporate Total Revenue: Total revenue $ (791 ) $ 343 $ — $ (448 ) $ 1,966 $ — $ — $ 1,966 Operating costs and expenses: General and administrative $ 1,090 $ 21 $ 1,728 $ 2,839 $ 1,658 $ — $ 1,436 $ 3,094 Amortization and depreciation 136 113 — 249 1,546 — — 1,546 Total operating expenses $ 1,226 $ 134 $ 1,728 $ 3,088 $ 3,204 $ — $ 1,436 $ 4,640 Other income (expense): Total other expense, net $ (39 ) $ (186 ) $ (655 ) $ (880 ) $ (108 ) $ — $ (100 ) $ (208 ) Operating income (loss): Total pre-tax income (loss) from continuing operations $ (2,056 ) $ 23 $ (2,383 ) $ (4,416 ) $ (1,346 ) $ — $ (1,536 ) $ (2,882 ) For the Nine Months Ended March 31, 2018 For the Nine Months Ended March 31, 2017 Investment Management Real Estate General Corporate Total Investment Management Real Estate General Corporate Total Revenue: Total revenue $ 3,501 $ 343 $ — $ 3,844 $ 3,308 $ — $ — $ 3,308 Operating costs and expenses: General and administrative $ 6,423 $ 21 $ 4,745 $ 11,189 $ 2,747 $ — $ 2,677 $ 5,424 Amortization and depreciation 449 113 — 562 2,564 — — 2,564 Total operating expenses $ 6,872 $ 134 $ 4,745 $ 11,751 $ 5,311 $ — $ 2,677 $ 7,988 Other expense: Total other expense, net $ (161 ) $ (186 ) $ (747 ) $ (1,094 ) $ (175 ) $ — $ (12,848 ) $ (13,023 ) Operating loss: Total pre-tax income (loss) from continuing operations $ (3,532 ) $ 23 $ (5,492 ) $ (9,001 ) $ (2,178 ) $ — $ (15,525 ) $ (17,703 ) The Company’s investment management and real estate segments include identifiable intangible assets. The following tables provide detail associated with the Company’s identifiable intangible assets (dollar amounts in thousands): As of March 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (in years) Amortized intangible assets: Investment management agreement $ 3,900 $ (671 ) $ 3,229 15 Assembled workforce 526 (90 ) 436 15 In-place lease 6,028 (34 ) 5,994 12 Total $ 10,454 $ (795 ) $ 9,659 Aggregate Amortization Expense: 2018 2017 For the three months ended March 31, $ 169 $ 1,522 For the nine months ended March 31, $ 472 $ 2,536 Estimated Amortization Expense: For the quarter ended June 30, 2018 $ 259 For the year ended June 30, 2019 1,120 For the year ended June 30, 2020 1,098 For the year ended June 30, 2021 955 For the year ended June 30, 2022 881

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Borrowings	11. Borrowings GP Corp. Note The GP Corp. Note was issued in November 2016 with a maximum principal balance of $10.8 million and a carrying value of approximately $3.2 million which approximated its fair value. In September 2017, in conjunction with the Separation Agreement, the GP Corp. Note was amended and restated to reduce the maximum principal balance payable under the note from $10.8 million to $3.3 million. Since the amendment resulted in a substantial change to the GP Corp. Note, the Company accounted for the amendment as a debt extinguishment. On the amendment date, the Company recognized, in other income (expense), a loss on debt extinguishment of $0.05 million. As part of the consideration to effect the principal reduction, the Company issued MAST Capital a warrant to purchase up to 420,000 shares of restricted common stock. On the grant date, the warrants had an estimated fair value of $0.01 million. The GP Corp. Note is held by MAST Capital, matures in November 2026, accrues interest at a variable rate of LIBOR plus 3.0% per annum and is secured by a profit sharing agreement related to GECM’s management of GECC. The GP Corp. Note requires quarterly interest only payments and annual principal payments of $0.08 million, based on the Company’s fiscal year ending June 30. The GP Corp. Note is non-recourse to any of the Company’s operations or net assets not related to GECM’s management services to GECC. The GP Corp. Note may be prepaid at par value at any time with prior written notice to the holders of the GP Corp. Note. Additionally, GP Corp. is required to prepay the GP Corp. Note upon certain material liquidation transactions. Senior and Subordinated Notes In March 2018, in conjunction with the acquisition of an 80.1% interest in CRIC IT Fort Myers LLC, the Company assumed a senior secured note ( Senior Note Subordinated Note The note agreements include negative covenants that restrict the Property Owner’s business operations to ownership and lease of the Property, limit additional indebtedness, require maintenance of insurance and other customary requirements related to the Property. Events of default include non-payment of amounts when due, inability to pay indebtedness or material change in the business operations or financial condition of the Property Owner or the lease tenant that in the Lender’s reasonable determination would reasonably be expected to materially impair the value of the Property, prevent timely repayment of the notes, or performing any material obligations under the note and related agreements. The payments under the notes are also guaranteed on a full and several basis by the non-controlling interest holder of the Property Owner. The Senior Note matures on March 15, 2030, and accrues interest at a rate of 3.49% per annum, and is secured by a first lien mortgage on the Property and an Assignment of Leases and Rents. The Senior Note requires monthly principal and interest payments through the maturity date, with the last payment of $18.4 million on March 14, 2030. The principal and interest due on the Senior Note may be prepaid at the option of the Borrower, discounting the remaining principal and interest payments at a rate equal to an applicable premium in excess of a rate corresponding to the specified U.S. Treasury security over the remaining average life of the Senior Note. The following table summarizes the obligations due under the terms of the Senior Note (in thousands): Year Senior Debt Principal 2018 (Q4 Payments) $ 481 2019 1,999 2020 2,159 2021 2,326 2022 2,507 2023 2,701 Thereafter 42,469 Total principal $ 54,642 Debt discount (2,552 ) Total principal, net 52,090 Less current portion (1,960 ) Total principal, net of current portion $ 50,130 The Subordinated Note matures on March 15, 2030, and accrues interest at a rate 15.0% per annum, and is secured by a second lien mortgage on the Property and an Assignment of Leases and Rents. The Subordinated Note is a capital appreciation note, whereby the monthly interest is capitalized to the principal balance and due at maturity. Accordingly, $16.3 million payment is due on March 15, 2030. The principal and interest due on the Subordinate Note may be prepaid at the option of the Borrower, discounting the remaining principal and interest payments at a rate equal to an applicable premium in excess of a rate corresponding to the specified U.S. Treasury security over the remaining average life of the Subordinated Note. The following table summarizes the capital appreciation and obligations due under the terms of the Subordinated Note (in thousands): Year Subordinated Debt Capital Appreciation Future scheduled in-kind interest $ 13,550 Balance as of March 31, 2018 5,829 Less: Premium (3,109 ) Total subordinated debt due at Maturity on March 15, 2030 $ 16,270 For the three and nine months ended March 31, 2018, the Company incurred interest expense of approximately $

Income Tax

Income Tax	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax	12. Income Tax As of March 31, 2018, the Company has net operating loss ( NOL On December 22, 2017, the Tax Cuts and Jobs Act ( Tax Act For the three and nine months ended March 31, 2018, the Company has recorded an income tax benefit of $0.2 million due to the income tax benefit related to the reversal of our valuation allowance as a result of deferred tax liabilities acquired as part of our March 2018 Real Estate Asset Acquisition that provided sources of taxable income to recover our existing deferred tax assets (see Note 5 for further discussion).

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events None.

Basis of Presentation and Sig20

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations.
Use of Estimates	Use of Estimates The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America ( US GAAP
Principles of Consolidation	Principles of Consolidation The Company consolidates the assets, liabilities, and operating results of its wholly-owned subsidiaries; majority-owned subsidiaries; and subsidiaries in which we hold a controlling financial interest as of the financial statement date. In most cases, a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate a variable interest entity ( VIE GECM GP Corp Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the Company’s equity. Results of operations attributable to the non-controlling interests are included in the Company’s consolidated statements of operations.
Segments	Segments The Company has three segments: investment management, real estate, and general corporate. The Company regularly reviews each segment for purposes of allocating resources and assessing performance.
Cash and Cash Equivalents	C ash, Cash Equivalents, and Restricted Cash Cash and cash equivalents are comprised of cash and highly liquid investments with original maturities of 90 days or less at the date of purchase. Cash equivalents consist primarily of money market funds. The Company is exposed to credit risk in the event of default by the financial institutions or the issuers of these investments to the extent the amounts on deposit or invested are in excess of amounts that are insured. The Company’s restricted cash consists of rental income received in advance and a portion of prior period rental income that is reserved for capital and certain operating expenses in connection with the Company’s real estate assets.
Revenue Recognition	Revenue Recognition The Company recognizes revenue on services at the time when services are performed, and the following conditions are met: persuasive evidence of an arrangement exists, the service is complete, the price is fixed and determinable, and collection of the proceeds is reasonably assured. If the conditions for revenue recognition are not met, the Company defers the revenue until all conditions are met. Investment Management Revenue The Company recognizes revenue from its investment management business at amounts that reflect the consideration to which it expects to be entitled in exchange for providing services to its customer. Investment management revenue primarily consists of fees based on a percentage of assets under management; fees based on the performance of managed assets; and administrative fees; as follows: Management Fees Under GECC’s investment management agreement with GECM, the base management fee from GECC is calculated at an annual rate of 1.50% of GECC’s average adjusted gross assets. The base management fee is calculated based on the average value of GECC’s gross assets, excluding cash and cash equivalents, at the end of the two most recently completed calendar quarters. Incentive Fees Incentive fees earned from GECC and the separate accounts managed by GECM are recognized based on investment performance during the period, subject to the achievement of minimum return levels or high-water marks, in accordance with the terms of the respective investment management agreements. Incentive fees range from 5.0% to 20.0%. Incentive fees are recorded based upon an assumed liquidation of net assets on the reporting date and the distribution of the net proceeds in accordance with the respective investment management agreements. Incentive fees recorded may be subject to reversal to the extent the amount recorded exceeds the amount due to GECM based on negative investment performance after the reporting date. Accrued but unpaid incentive fees and deferred incentive fees due from GECC as of the reporting date are recorded in related party investment management fees receivable in the accompanying consolidated balance sheet. Incentive fees realized and collected are not subject to reversal. As of March 31, 2018 and June 30, 2017, approximately $2.0 million and $1.7 million, respectively, of incentive fees recognized in revenue were subject to reversal. In March 2018, the Company reversed approximately $2.1 million of incentive fees earned by GECM under the investment management agreement and recognized in revenue in prior periods. Generally speaking, GECM earns 20% of GECC’s pre incentive fee net investment income ( NII Real Estate Revenue Rental income from operating leases is recognized on a straight-line basis, based on contractual lease terms with fixed and determinable increases over the non-cancellable term of the related lease when collectability is reasonably assured. Under the terms of the lease, the Company may recover from the tenant certain expenses, including: real estate taxes, insurance and other operating expenses. The recovery of these expenses is recognized in rental income in the accompanying consolidated statements of operations, in the same periods as the expenses are incurred. These expenses recognized in both revenue and expense may fluctuate from period to period based on actual expense amounts.
Investment Management Expenses	Investment Management Expenses The Company classifies all direct expenses of its investment management segment including: payroll, stock-compensation, and related taxes and benefits; facilities costs; and professional fees; in investment management expenses in the accompanying consolidated statements of operations. GECM has a three-year contractual consulting arrangement with a third party to provide services in exchange for 26% of the base management fee paid by GECC.
Real Estate Expenses	Real Estate Expenses The Company classifies all direct expenses of its real estate segment, including: real estate taxes, insurance, property management fees and other operating expenses in real estate expenses in the accompanying consolidated statements of operations. Under the terms of the lease, the Company may recover from the tenant certain expenses including; real estate taxes, insurance and other operating expenses; the recovery of these expenses is recognized in rental income in the accompanying consolidated statements of operations, in the same periods as the expense are incurred.
Property, Equipment, and Real Estate Assets	Property, Equipment, and Real Estate Assets The Company records property and equipment at historical cost and its real estate assets at the estimated fair value on the date of acquisition. The Company recognizes depreciation in amounts sufficient to match the cost of depreciable assets to operations over their estimated service lives, lease length, or productive value. The Company capitalizes expenditures for improvements that significantly extend the useful life of an asset. The Company charges expenditures for maintenance and repairs to operations in the periods incurred. Depreciation is recognized using the straight-line method over their estimated useful lives as follows: Description Life in Years Buildings 55 Tenant improvements 12 Site improvements 16 Leasehold improvements 7 Furniture and fixtures 1 to 3
Concentration of Risk and Related Parties	Concentration of Risk and Related Parties The Company has placed substantially all of its cash with two well established financial institutions, and its cash equivalents consist primarily of money market funds with the same institutions. The Company is exposed to credit risk related to the potential inability to access liquidity in the financial institution where its cash and cash equivalents are concentrated. The Company’s net investment revenue and receivables from continuing operations for the periods presented were attributable to the management of one investment vehicle, GECC. GECC is a related party, based on the Company owning approximately 18% of the outstanding common stock of GECC. The Company’s rental revenue from continuing operations is derived from one tenant. A portion of (MAST Capital
Identifiable Intangible Assets	Identifiable Intangible Assets The Company amortizes its identifiable intangible assets over their estimated useful lives using applicable discounted cash flow attribution and straight-line methods. The Company currently amortizes its identifiable intangible assets over periods ranging from twelve to fifteen years.
Reclassifications	Reclassifications The Company reclassified the prior period presentation by increasing its administrative fee income and expense by $0.4 million and $0.4 million, respectively, for the three and nine months ended March 31, 2017, to conform to the current period presentation adopted for the consolidated statement of operations for the year ended June 30, 2017 and the current periods. These reclassifications did not have an impact on the Company’s previously presented net results of operations.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ( FASB In August 2015, the FASB issued new guidance deferring the effective date of the new revenue recognition standard by one year. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. 1. Identifying the contract(s) with a customer. 2. Identifying the performance obligations in the contract. 3. Determining the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The new standard permits for two alternative implementation methods, the use of either (1) full retrospective application to each prior reporting period presented or (2) modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opening balance of retained earnings in the period of adoption. The Company plans to adopt the new standard in the first quarter of its 2019 fiscal year using the modified retrospective transition method. The Company has evaluated the potential impacts of the new revenue recognition standard and has determined that the recognition of a portion of its investment management incentive fees are to be deferred upon implementation. As of March 31, 2018, the Company preliminarily estimated approximately $0.4 million of the total incentive fees receivable that if not collected prior to the first quarter of its 2019 fiscal year, will be retroactively adjusted upon adoption of the new revenue standard. The Company is continuing to evaluate the new guidance for any other impacts adoption may have on the Company’s consolidated financial position, results of operations, and cash flows. In January 2016, the FASB issued amended guidance on the classification and measurement of financial instruments. The new guidance will impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified the need for a valuation allowance on deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period using a modified retrospective application to all outstanding instruments, with a cumulative effect adjustment recorded to opening retained earnings as of the beginning of the first period in which the guidance becomes effective. However, changes to the accounting for equity securities without a readily determinable fair value will be applied prospectively. Early application is permitted. This amended guidance is not expected to have a material impact on the Company’s financial statements. In November 2016, the FASB issued amended guidance on classification and presentation of restricted cash on the statement of cash flows. Under the new guidance, reporting entities are required to explain the changes in the combined total of restricted and unrestricted balances in the statement of cash flows. Therefore, amounts generally described as restricted cash or restricted cash equivalents (hereinafter referred to as “restricted cash”) should be combined with unrestricted cash and cash equivalents when reconciling the beginning and end of period balances on the statement of cash flows. Reporting entities will also be required to disclose how the statement of cash flows reconciles to the balance sheet in any situation in which the balance sheet includes more than one line item of cash, cash equivalents, and restricted cash. The new guidance should be applied for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period using a retrospective transition method to each period presented. Early application is permitted. The Company began to apply this guidance in March 2018.

Basis of Presentation and Sig21

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Estimated Useful Lives of Property, Equipment, and Real Estate Assets	Depreciation is recognized using the straight-line method over their estimated useful lives as follows: Description Life in Years Buildings 55 Tenant improvements 12 Site improvements 16 Leasehold improvements 7 Furniture and fixtures 1 to 3

Real Estate Asset Acquisition (

Real Estate Asset Acquisition (Tables)	9 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed on the Date of Acquisition	The following table summarizes the acquisition cost and the allocation to the assets acquired and liabilities assumed based on the relative fair values on the date of acquisition (in thousands): Amount Cash consideration $ 2,700 Cash and restricted cash acquired (606 ) Transaction costs 261 Non-controlling interests 671 Total consideration, net of cash and restricted cash acquired $ 3,026 Buildings $ 43,276 Land and site improvements 9,170 In-place lease intangible asset 6,028 Tenant improvements 3,500 Other assets 35 Senior note payable assumed (52,227 ) Subordinated note payable assumed (5,789 ) Deferred tax liability (478 ) Other liabilities assumed (489 ) Non-controlling interests (671 ) Net assets acquired $ 2,355
Summary of Base Monthly Rents for Remaining Lease Term	The following table summarizes the base monthly rents for the remaining lease term (in thousands): Year Base Rent Payments 2018 (Q4 payments only) $ 999 2019 4,030 2020 4,120 2021 4,213 2022 4,312 2023 4,420 Thereafter 33,203 Total base rent $ 55,297

Fixed Assets (Tables)

Fixed Assets (Tables)	9 Months Ended
	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Summary of Fixed Assets	The following table details the Company’s fixed assets (in thousands, except useful lives): As of March 31, 2018 As of June 30, 2017 Weighted Average Useful Life (in years) Buildings $ 43,276 $ — 55 Tenant improvements 3,500 — 12 Land 7,121 — n/a Site improvements 2,049 — 16 Leasehold improvements 45 31 7 Furniture and fixtures 26 26 2 Fixed assets, gross 56,017 57 Accumulated depreciation (107 ) (16 ) Fixed assets, net $ 55,910 $ 41

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Schedule of Investments and Sharing Agreements	As of and for the three In Thousands months ended March 31, 2018 2017 Investment in GECC Unrealized loss on investment in GECC recorded in the period $ (1,219 ) $ (570 ) GECC dividends recorded in the period $ 490 $ 490 Management of GECC Investment management fees earned in the period $ (1,074 ) $ 1,582 GECC administration fees earned in the period $ 283 $ 384 GECC administration expenses incurred in the period $ (283 ) $ (384 ) Net receivable due from GECC at the end of the period $ 4,646 $ 3,436 Profit Sharing with GP Corp. GP Corp. Note balance at the end of the period $ 3,300 $ 3,424 GP Corp. Note interest incurred in the period $ (39 ) $ (108 ) GP Corp. net loss attributable to Great Elm Capital Group, Inc. $ (139 ) $ (1,298 ) As of and for the nine In Thousands months ended March 31, 2018 2017 Investment in GECC Unrealized loss on investment in GECC recorded in the period $ (2,753 ) $ (7,619 ) GECC dividends recorded in the period $ 1,862 $ 816 Management of GECC Reimbursement of GECC formation expenses for the period $ — $ 2,989 Investment management fees for the period $ 2,585 $ 2,862 GECC administrative fees earned in the period $ 916 $ 446 GECC administrative expenses incurred during the period $ (916 ) $ (446 ) Net receivable due from GECC at the end of the period $ 4,646 $ 3,436 Profit Sharing with GP Corp. GP Corp. Note balance at the end of the period $ 3,300 $ 3,424 GP Corp. Note interest incurred in the period $ (173 ) $ (175 ) GP Corp. net loss attributable to Great Elm Capital Group, Inc. $ (1,690 ) $ (1,964 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2018
Stockholders Equity Note [Line Items]
Activity of Restricted Stock Award	The following table summarizes the Company’s restricted stock award activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Restricted Grant Date Restricted Stock Awards and Units Stock Fair Value Outstanding at June 30, 2017 1,147 $ 3.88 Granted 75 3.57 Vested (185 ) 3.55 Forfeited (257 ) 3.95 Outstanding at March 31, 2018 780 $ 3.91
Summary of Option Activity	The following table summarizes the Company’s option award activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Weighted Remaining Average Contractual Aggregate Options Options Exercise Price Term (years) Intrinsic Value Outstanding at June 30, 2017 722 $ 7.46 Options granted 2,083 3.60 Exercised — — Forfeited, cancelled or expired (128 ) 10.45 Outstanding at March 31, 2018 2,677 $ 4.31 7.69 $ 958 Exercisable at March 31, 2018 864 5.83 6.30 213 Vested and expected to vest as of March 31, 2018 2,677 $ 4.31 7.69 $ 958
Schedule of Warrant Activity	The following table illustrates the Company’s warrant activity as of and through March 31, 2018 (in thousands, except per share amounts): Weighted Average Weighted Remaining Average Contractual Aggregate Warrants Shares Exercise Price Term (years) Intrinsic Value Outstanding at June 30, 2017 55 $ 0.01 Granted 1,686 3.60 Exercised (1,266 ) 3.60 Forfeited, cancelled or expired (55 ) 0.01 Outstanding at March 31, 2018 420 $ 4.00 1.47 $ — Exercisable and vested at March 31, 2018 420 $ 4.00 1.47 $ —
Warrant
Stockholders Equity Note [Line Items]
Summary of Changes in Fair Value of Company's Warrant Liability Measured at Fair Value on Recurring Basis	The following table sets forth a summary of the changes in the fair value of the Company’s warrant liability that was measured at fair value on a recurring basis (in thousands): March 31, 2018 June 30, 2017 Beginning of period $ 186 $ — Aggregate fair value of warrant issued — 216 Re-measurement of warrant liability loss (gain) 8 (30 ) Settlement (194 ) — End of period $ — $ 186

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Information	The following table illustrates the segment information (in thousands): For the Three Months Ended March 31, 2018 For the Three Months Ended March 31, 2017 Investment Management Real Estate General Corporate Total Investment Management Real Estate General Corporate Total Revenue: Total revenue $ (791 ) $ 343 $ — $ (448 ) $ 1,966 $ — $ — $ 1,966 Operating costs and expenses: General and administrative $ 1,090 $ 21 $ 1,728 $ 2,839 $ 1,658 $ — $ 1,436 $ 3,094 Amortization and depreciation 136 113 — 249 1,546 — — 1,546 Total operating expenses $ 1,226 $ 134 $ 1,728 $ 3,088 $ 3,204 $ — $ 1,436 $ 4,640 Other income (expense): Total other expense, net $ (39 ) $ (186 ) $ (655 ) $ (880 ) $ (108 ) $ — $ (100 ) $ (208 ) Operating income (loss): Total pre-tax income (loss) from continuing operations $ (2,056 ) $ 23 $ (2,383 ) $ (4,416 ) $ (1,346 ) $ — $ (1,536 ) $ (2,882 ) For the Nine Months Ended March 31, 2018 For the Nine Months Ended March 31, 2017 Investment Management Real Estate General Corporate Total Investment Management Real Estate General Corporate Total Revenue: Total revenue $ 3,501 $ 343 $ — $ 3,844 $ 3,308 $ — $ — $ 3,308 Operating costs and expenses: General and administrative $ 6,423 $ 21 $ 4,745 $ 11,189 $ 2,747 $ — $ 2,677 $ 5,424 Amortization and depreciation 449 113 — 562 2,564 — — 2,564 Total operating expenses $ 6,872 $ 134 $ 4,745 $ 11,751 $ 5,311 $ — $ 2,677 $ 7,988 Other expense: Total other expense, net $ (161 ) $ (186 ) $ (747 ) $ (1,094 ) $ (175 ) $ — $ (12,848 ) $ (13,023 ) Operating loss: Total pre-tax income (loss) from continuing operations $ (3,532 ) $ 23 $ (5,492 ) $ (9,001 ) $ (2,178 ) $ — $ (15,525 ) $ (17,703 )
Detail Associated with Identifiable Intangible Assets	The Company’s investment management and real estate segments include identifiable intangible assets. The following tables provide detail associated with the Company’s identifiable intangible assets (dollar amounts in thousands): As of March 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (in years) Amortized intangible assets: Investment management agreement $ 3,900 $ (671 ) $ 3,229 15 Assembled workforce 526 (90 ) 436 15 In-place lease 6,028 (34 ) 5,994 12 Total $ 10,454 $ (795 ) $ 9,659
Summary of Amortization Expense of Identifiable Intangible Assets	Aggregate Amortization Expense: 2018 2017 For the three months ended March 31, $ 169 $ 1,522 For the nine months ended March 31, $ 472 $ 2,536 Estimated Amortization Expense: For the quarter ended June 30, 2018 $ 259 For the year ended June 30, 2019 1,120 For the year ended June 30, 2020 1,098 For the year ended June 30, 2021 955 For the year ended June 30, 2022 881

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2018
Senior Notes
Debt Instrument [Line Items]
Schedule of maturities of long-term Debt	The following table summarizes the obligations due under the terms of the Senior Note (in thousands): Year Senior Debt Principal 2018 (Q4 Payments) $ 481 2019 1,999 2020 2,159 2021 2,326 2022 2,507 2023 2,701 Thereafter 42,469 Total principal $ 54,642 Debt discount (2,552 ) Total principal, net 52,090 Less current portion (1,960 ) Total principal, net of current portion $ 50,130
Subordinated Notes
Debt Instrument [Line Items]
Schedule of maturities of long-term Debt	The following table summarizes the capital appreciation and obligations due under the terms of the Subordinated Note (in thousands): Year Subordinated Debt Capital Appreciation Future scheduled in-kind interest $ 13,550 Balance as of March 31, 2018 5,829 Less: Premium (3,109 ) Total subordinated debt due at Maturity on March 15, 2030 $ 16,270

Nature of Operations (Details)

Nature of Operations (Details)	9 Months Ended
	Mar. 31, 2018Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segments	3

Basis of Presentation and Sig29

Basis of Presentation and Significant Accounting Policies (Details) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018USD ($)ReportingSegment	Mar. 31, 2017USD ($)	Jun. 30, 2017USD ($)	Nov. 01, 2016
Significant Accounting Policies [Line Items]
Number of Reportable Segments | ReportingSegment			3
Incentive fee recognized in revenue that are subject to reversal	$ 2		$ 2		$ 1.7
Incentive fee recognized in revenue, reversed	2.1
Term of contractual arrangement to provide investment management related services			3 years
Percentage of fees for investment management related services			26.00%
Prior period reclassification adjustment		$ 0.4		$ 0.4
Estimated incentive fees receivable subject to adjustments	$ 0.4		$ 0.4
GECM
Significant Accounting Policies [Line Items]
Percentage of pre-incentive fee net investment income			20.00%
Hurdle rate			7.00%
Minimum
Significant Accounting Policies [Line Items]
Amortization period of intangible assets			12 years
Maximum
Significant Accounting Policies [Line Items]
Amortization period of intangible assets			15 years
GECC
Significant Accounting Policies [Line Items]
Annual rate of base management fee earned as percentage of average adjusted gross assets			1.50%
Percentage of ownership interest (as a percent)	18.00%		18.00%			18.00%
GECC | Common Stock
Significant Accounting Policies [Line Items]
Percentage of ownership interest (as a percent)	18.00%		18.00%
GECC | Minimum
Significant Accounting Policies [Line Items]
Incentive fee earned on investment performance			5.00%
GECC | Maximum
Significant Accounting Policies [Line Items]
Incentive fee earned on investment performance			20.00%
MAST Capital Investor
Significant Accounting Policies [Line Items]
Percentage of outstanding shares, held by MAST capital	7.90%		7.90%

Basis of Presentation and Sig30

Basis of Presentation and Significant Accounting Policies - Estimated Useful Lives of Property, Equipment, and Real Estate Assets (Details)	9 Months Ended
	Mar. 31, 2018
Buildings
Property Plant And Equipment [Line Items]
Estimated useful lives	55 years
Tenant Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives	12 years
Site Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives	16 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives	7 years
Furniture and Fixtures | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives	1 year
Furniture and Fixtures | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years

Investments, at Fair Value (Det

Investments, at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017	Nov. 01, 2016
Outstanding shares	24,706,115,000		24,706,115,000		23,200,153,000
Unrealized loss on investment in GECC	$ (1,219)	$ (570)	$ (2,753)	$ (7,619)
GECC
Percentage of ownership interest (as a percent)	18.00%		18.00%			18.00%
Outstanding shares	1,966,667		1,966,667
Unrealized loss on investment in GECC	$ (1,200)	$ (600)	$ (2,800)	$ (7,600)

Separation Agreement - Addition

Separation Agreement - Additional Information (Details) - USD ($)	1 Months Ended		9 Months Ended
	Sep. 30, 2017	Nov. 30, 2016	Mar. 31, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Common stock, shares authorized			350,000,000,000	350,000,000,000
Common stock, par value			$ 0.001	$ 0.001
Estimated grant date fair value			$ 50,000
Warrants granted to purchase common stock			1,686,000
Number of days preceding the date notice of exercise			10 days
Common stock fully vested			864,000
MAST Capital Investor
Business Acquisition [Line Items]
Warrants granted to purchase common stock	420,000
Number of days preceding the date notice of exercise	10 days
Maximum | MAST Capital Investor
Business Acquisition [Line Items]
Warrants granted to purchase common stock	420,000
GP Corp.
Business Acquisition [Line Items]
Secured notes, amount	$ 3,300,000
Common stock fully vested	54,733
Acquisition Agreement with MAST Capital | GP Corp. | Maximum
Business Acquisition [Line Items]
Secured notes, amount		$ 10,800,000
MAST Capital Investor
Business Acquisition [Line Items]
Annual investment management expenses		$ 1,400,000
MAST Capital Investor | Warrant
Business Acquisition [Line Items]
Common stock, shares authorized		54,733
Common stock, par value		$ 0.01
Estimated grant date fair value		$ 200,000

Real Estate Asset Acquisition -

Real Estate Asset Acquisition - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2018USD ($)aProperty	Mar. 31, 2018USD ($)aProperty	Mar. 31, 2018USD ($)aProperty	Jun. 30, 2017USD ($)
Business Acquisition [Line Items]
Non-controlling interest	$ 246	$ 246	$ 246	$ (10)
Gartner I and Gartner II
Business Acquisition [Line Items]
Monthly lease income			$ 400
Lease option to extend			The Gartner I lease contains two five-year extensions and the Gartner II lease contains three five-year extensions
Lease renewal rate			95.00%
CRIC IT Fort Myers LLC
Business Acquisition [Line Items]
Non-controlling interest	$ 700	$ 700	$ 700
CRIC IT Fort Myers LLC
Business Acquisition [Line Items]
Percentage of ownership interest	80.10%	80.10%	80.10%
Percentage of outstanding shares, held by MAST capital	19.90%	19.90%	19.90%
Purchase price in cash	$ 2,700
Business Acquisition, Transaction Costs	261	$ 261	$ 261
Senior and subordinated notes payable	$ 58,000	58,000	$ 58,000
Income tax benefit, reduction of valuation allowance		$ 200
CRIC IT Fort Myers LLC | Gartner I and Gartner II | Fort Myers, FL
Business Acquisition [Line Items]
Number of office bulidings | Property	2	2	2
Area of real estate Property | a	17	17	17

Real Estate Asset Acquisition34

Real Estate Asset Acquisition - Schedule of Assets Acquired and Liabilities Assumed on the Date of Acquisition (Details) - CRIC IT Fort Myers LLC $ in Thousands	1 Months Ended
	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Cash consideration	$ 2,700
Cash and restricted cash acquired	(606)
Business Acquisition, Transaction Costs	261
Non-controlling interests	671
Total consideration, net of cash and restricted cash acquired	3,026
Buildings	43,276
Land and site improvements	9,170
In-place lease intangible asset	6,028
Tenant improvements	3,500
Other assets	35
Senior note payable assumed	(52,227)
Subordinated note payable assumed	(5,789)
Deferred tax liability	(478)
Other liabilities assumed	(489)
Non-controlling interests	(671)
Net assets acquired	$ 2,355

Acquisition - Summary of Base M

Acquisition - Summary of Base Monthly Rents for Remaining Lease Term (Details) $ in Thousands	Mar. 31, 2018USD ($)
Business Combinations [Abstract]
2018 (Q4 payments only)	$ 999
2,019	4,030
2,020	4,120
2,021	4,213
2,022	4,312
2,023	4,420
Thereafter	33,203
Total base rent	$ 55,297

Fixed Assets - Summary of Fixed

Fixed Assets - Summary of Fixed Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 56,017	$ 57
Accumulated depreciation	(107)	(16)
Fixed assets, net	55,910	41
Property and equipment, net	42	41
Buildings
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 43,276
Weighted Average Useful Life (in years)	55 years
Tenant Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 3,500
Weighted Average Useful Life (in years)	17 years
Land
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 7,121
Site Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 2,049
Weighted Average Useful Life (in years)	16 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 45	31
Weighted Average Useful Life (in years)	7 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 26	$ 26
Weighted Average Useful Life (in years)	2 years

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 80	$ 90

Related Party Transactions (not

Related Party Transactions (not disclosed elsewhere) - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2018	Nov. 01, 2016
GECC
Related Party Transaction [Line Items]
Percentage of ownership interest (as a percent)	18.00%	18.00%
Northern Right Capital Management, L.P.
Related Party Transaction [Line Items]
Cash proceeds from exercise of warrants	$ 4.6
Exercise of warrants	1,266,000

Related Party Transactions (n39

Related Party Transactions (not disclosed elsewhere) - Schedule of Investments and Sharing Agreements - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Related Party Transaction [Line Items]
Unrealized loss on investment in GECC recorded in the period	$ (1,219)	$ (570)	$ (2,753)	$ (7,619)
Related party receivable	300		300		$ 348
Less: Net income (loss) attributable to non- controlling interest	(28)	(278)	(415)	(444)
Investment in GECC
Related Party Transaction [Line Items]
Unrealized loss on investment in GECC recorded in the period	(1,219)	(570)	(2,753)	(7,619)
GECC dividends recorded in the period	490	490	1,862	816
Management Of Gecc
Related Party Transaction [Line Items]
Investment management fees earned in the period	(1,074)	1,582	2,585	2,862
GECC administration fees earned in the period	283	384	916	446
GECC administration expenses incurred in the period	(283)	(384)	(916)	(446)
Related party receivable	4,646	3,436	4,646	3,436
Reimbursement of GECC formation expenses for the period				2,989
Profit Sharing with GP Corp
Related Party Transaction [Line Items]
Secured notes, amount	3,300	3,424	3,300	3,424
GP Corp. Note interest incurred in the period	(39)	(108)	(173)	(175)
Less: Net income (loss) attributable to non- controlling interest	$ (139)	$ (1,298)	$ (1,690)	$ (1,964)

Stockholders' Equity - Performa

Stockholders' Equity - Performance Shares (Restricted Stock Awards) (Details) - Restricted Stock - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Stockholders' Equity
Granted			57,416
Grant date fair value			$ 0.2
Outstanding shares			761,617
Vesting period			5 years
Restricted stock awards forfeited			256,808
Compensation cost reversed			$ 0.5
Recognized compensation cost related to performance based awards	$ 0.4	$ 0.5	0.8	$ 0.8
GECC
Stockholders' Equity
Investment management agreement collections performance requirement			$ 40
Maximum term of Investment management agreement fees earned			5 years
Vesting on First Anniversary of Grant
Stockholders' Equity
Percentage vesting			20.00%

Stockholders' Equity - Activity

Stockholders' Equity - Activity of Restricted Stock Award (Details) - Restricted Stock	9 Months Ended
	Mar. 31, 2018$ / sharesshares
Shares
Beginning Balance | shares	1,147,000
Granted | shares	75,000
Vested | shares	(185,000)
Forfeited | shares	(256,808)
Ending Balance | shares	780,000
Weighted average grant date fair value
Beginning Balance | $ / shares	$ 3.88
Granted | $ / shares	3.57
Vested | $ / shares	3.55
Forfeited | $ / shares	3.95
Ending Balance | $ / shares	$ 3.91

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Stockholders' Equity
Options granted			2,083,000
Stock-based compensation			$ 3,602	$ 1,219
Total unrecognized compensation cost	$ 4,500		$ 4,500
Employee Stock Option
Stockholders' Equity
Options granted			2,082,736
Estimated grant date fair value of options			$ 4,100
Expected volatility, minimum			60.80%
Expected volatility, maximum			63.40%
Expected dividend yield			$ 0
Risk-free rate, minimum			1.50%
Risk-free rate, maximum			2.50%
Employee Stock Option | Minimum
Stockholders' Equity
Expected term (years)			3 years
Employee Stock Option | Maximum
Stockholders' Equity
Expected term (years)			6 years 6 months
Restricted Stock Awards and Stock Options
Stockholders' Equity
Stock-based compensation	$ 900	$ 600	$ 3,600	$ 1,300

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Shares
Beginning Balance | shares	722
Options granted | shares	2,083
Forfeited, cancelled or expired | shares	(128)
Ending Balance | shares	2,677
Exercisable | shares	864
Vested and expected to vest | shares	2,677
Weighted average exercise price
Beginning Balance | $ / shares	$ 7.46
Options granted | $ / shares	3.60
Forfeited, cancelled or expired | $ / shares	10.45
Ending Balance | $ / shares	4.31
Exercisable | $ / shares	5.83
Vested and expected to vest | $ / shares	$ 4.31
Weighted average remaining contractual term
Outstanding	7 years 8 months 9 days
Exercisable	6 years 3 months 19 days
Vested and expected to vest	7 years 8 months 9 days
Aggregate Intrinsic Value, Outstanding | $	$ 958
Aggregate Intrinsic Value, Exercisable | $	213
Aggregate Intrinsic Value, Vested and expected to vest | $	$ 958

Stockholders' Equity - Non-Cont

Stockholders' Equity - Non-Controlling Interest (Details) $ in Millions	9 Months Ended
	Mar. 31, 2018USD ($)
GP Corp.
Stockholders' Equity
Stock-based compensation expense	$ 1.5

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Sep. 30, 2017	Mar. 31, 2018
Class Of Warrant Or Right [Line Items]
Warrants granted to purchase common stock		1,686,000
Estimated grant date fair value		$ 50
Number of days preceding the date notice of exercise		10 days
MAST Warrant | Common Stock
Class Of Warrant Or Right [Line Items]
Common stock issued in exchange of cancelled warrant	54,733
Northern Right Capital Management, L.P.
Class Of Warrant Or Right [Line Items]
Cash proceeds from warrants exercised		$ 4,600
Warrant exercised		1,266,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Warrant Activity (Details) - Warrant shares in Thousands	9 Months Ended
	Mar. 31, 2018$ / sharesshares
Shares
Beginning Balance | shares	55
Granted | shares	1,686
Warrants Exercised, Shares | shares	(1,266)
Forfeited | shares	(55)
Ending Balance | shares	420
Warrants Exercisable and vested, Shares | shares	420
Weighted average exercise price
Beginning Balance | $ / shares	$ 0.01
Exercise Price | $ / shares	3.60
Warrants Exercised, Weighted Average Exercise Price | $ / shares	3.60
Warrants Forfeited, cancelled or expired, Weighted Average Exercise Price | $ / shares	0.01
Ending Balance | $ / shares	4
Warrants Exercisable and vested, Weighted Average Exercise Price | $ / shares	$ 4
Weighted average remaining contractual term
Warrants Outstanding, Weighted Average Remaining Contractual Term	1 year 5 months 20 days
Warrants Exercisable and vested, Weighted Average Remaining Contractual Term	1 year 5 months 20 days

Stockholders' Equity - Summar47

Stockholders' Equity - Summary of Changes in Fair Value of Company's Warrant Liability Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Class Of Warrant Or Right [Line Items]
Beginning of period	$ 186
End of period		$ 186
Fair Value Measurement Recurring Basis
Class Of Warrant Or Right [Line Items]
Beginning of period	186
Aggregate fair value of warrant issued		216
Re-measurement of warrant liability loss (gain)	8	(30)
Settlement	$ (194)
End of period		$ 186

Lessee Operating Leases - Addit

Lessee Operating Leases - Additional Information (Details) - USD ($) $ in Thousands	Jun. 01, 2017	Mar. 31, 2018
Operating Leased Assets [Line Items]
Operating lease remaining initial term	88 months
Operating leases optional lease extension period	60 months
Increase in average rate of lease payment		2.40%
Lease liability		$ 1,700
Minimum
Operating Leased Assets [Line Items]
Increase in average rate of lease payment, amount		28
Maximum
Operating Leased Assets [Line Items]
Increase in average rate of lease payment, amount		$ 32

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Total revenue	$ (448)	$ 1,966	$ 3,844	$ 3,308
Operating costs and expenses:
General and administrative	2,839	3,094	11,189	5,424
Amortization and depreciation	249	1,546	562	2,564
Total operating costs and expenses	3,088	4,640	11,751	7,988
Other income (expense):
Total other expense, net	(880)	(208)	(1,094)	(13,023)
Operating income (loss):
Loss from continuing operations, before income taxes	(4,416)	(2,882)	(9,001)	(17,703)
Investment Management
Revenue:
Total revenue	(791)	1,966	3,501	3,308
Operating costs and expenses:
General and administrative	1,090	1,658	6,423	2,747
Amortization and depreciation	136	1,546	449	2,564
Total operating costs and expenses	1,226	3,204	6,872	5,311
Other income (expense):
Total other expense, net	(39)	(108)	(161)	(175)
Operating income (loss):
Loss from continuing operations, before income taxes	(2,056)	(1,346)	(3,532)	(2,178)
Real Estate
Revenue:
Total revenue	343		343
Operating costs and expenses:
General and administrative	21		21
Amortization and depreciation	113		113
Total operating costs and expenses	134		134
Other income (expense):
Total other expense, net	(186)		(186)
Operating income (loss):
Loss from continuing operations, before income taxes	23		23
General Corporate
Operating costs and expenses:
General and administrative	1,728	1,436	4,745	2,677
Total operating costs and expenses	1,728	1,436	4,745	2,677
Other income (expense):
Total other expense, net	(655)	(100)	(747)	(12,848)
Operating income (loss):
Loss from continuing operations, before income taxes	$ (2,383)	$ (1,536)	$ (5,492)	$ (15,525)

Segment Information - Detail As

Segment Information - Detail Associated with Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Acquired Finite Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 9,659	$ 4,102
Investment Management and Real Estate Segments
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,454
Accumulated Amortization	(795)
Net Carrying Amount	9,659
Investment Management and Real Estate Segments | Investment Management Agreement
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,900
Accumulated Amortization	(671)
Net Carrying Amount	$ 3,229
Weighted Average Useful Life (in years)	15 years
Investment Management and Real Estate Segments | Assembled Workforce
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 526
Accumulated Amortization	(90)
Net Carrying Amount	$ 436
Weighted Average Useful Life (in years)	15 years
Investment Management and Real Estate Segments | In-place Lease
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,028
Accumulated Amortization	(34)
Net Carrying Amount	$ 5,994
Weighted Average Useful Life (in years)	12 years

Segment Information -Summary of

Segment Information -Summary of Amortization Expense of Identifiable Intangible Assets (Details) - Investment Management and Real Estate Segments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Acquired Indefinite Lived Intangible Assets [Line Items]
Aggregate Amortization Expense	$ 169	$ 1,522	$ 472	$ 2,536
Estimated Amortization Expense, For the quarter ended June 30, 2018	259		259
Estimated Amortization Expense, For the year ended June 30, 2019	1,120		1,120
Estimated Amortization Expense, For the year ended June 30, 2020	1,098		1,098
Estimated Amortization Expense, For the year ended June 30, 2021	955		955
Estimated Amortization Expense, For the year ended June 30, 2022	$ 881		$ 881

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017	Nov. 30, 2016
Debt Instrument [Line Items]
Notes payable, carrying value		$ 3,224,000		$ 3,224,000		$ 2,924,000
Warrants granted to purchase common stock		1,686,000		1,686,000
Interest expense		$ 225,000	$ 108,000	$ 360,000	$ 6,211,000
CRIC IT Fort Myers LLC
Debt Instrument [Line Items]
Ownership interest acquired (as a percent)		80.10%		80.10%
Senior and subordinated notes payable		$ 58,000,000		$ 58,000,000
MAST Capital Investor
Debt Instrument [Line Items]
Warrants granted to purchase common stock	420,000
Warrants grant date estimated fair value	$ 10,000
Maximum | MAST Capital Investor
Debt Instrument [Line Items]
Warrants granted to purchase common stock	420,000
GP Corp. Note
Debt Instrument [Line Items]
Notes payable, carrying value							$ 3,200,000
Loss on debt extinguishment	$ 50,000
GP Corp. Note | Acquisition Agreement with MAST Capital
Debt Instrument [Line Items]
Secured notes, maturity date	Nov. 30, 2026
Debt instrument description				LIBOR plus 3.0% per annum
Debt instrument variable rate	3.00%
Mandatory annual payments on debt	$ 80,000
GP Corp. Note | Maximum
Debt Instrument [Line Items]
Secured notes, amount	10,800,000						$ 10,800,000
GP Corp. Note | Minimum
Debt Instrument [Line Items]
Secured notes, amount	$ 3,300,000
Senior Notes
Debt Instrument [Line Items]
Debt instrument unamortized discount		2,552,000		$ 2,552,000
Senior Notes | CRIC IT Fort Myers LLC
Debt Instrument [Line Items]
Secured notes, maturity date				Mar. 15, 2030
Debt acquired principal amount		54,800,000		$ 54,800,000
Senior and subordinated notes payable		52,200,000		52,200,000
Debt instrument unamortized discount		$ 2,600,000		$ 2,600,000
Debt instrument accrues interest rate		3.49%		3.49%
Debt instrument last required payment		$ 18,400,000		$ 18,400,000
Debt instrument last installment payment date				Mar. 14, 2030
Subordinated Notes
Debt Instrument [Line Items]
Secured notes, maturity date				Mar. 15, 2030
Debt instrument unamortized premium		3,109,000		$ 3,109,000
Subordinated Notes | CRIC IT Fort Myers LLC
Debt Instrument [Line Items]
Secured notes, maturity date				Mar. 15, 2030
Debt acquired principal amount		2,700,000		$ 2,700,000
Senior and subordinated notes payable		5,800,000		5,800,000
Debt instrument unamortized premium		$ 3,100,000		$ 3,100,000
Debt instrument accrues interest rate		15.00%		15.00%
Debt instrument last required payment		$ 16,300,000		$ 16,300,000
Debt instrument last installment payment date				Mar. 15, 2030
Senior Secured Notes | MAST Capital Investor
Debt Instrument [Line Items]
Interest expense			$ 100,000		$ 6,200,000

Borrowings - Schedule of Maturi

Borrowings - Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Balance as of March 31, 2018	$ 5,829
Senior Notes
Debt Instrument [Line Items]
2018 (Q4 Payments)	481
2,019	1,999
2,020	2,159
2,021	2,326
2,022	2,507
2,023	2,701
Thereafter	42,469
Total principal	54,642
Debt discount	(2,552)
Total principal, net	52,090
Less current portion	(1,960)
Total principal, net of current portion	50,130
Subordinated Notes
Debt Instrument [Line Items]
Future scheduled in-kind interest	13,550
Balance as of March 31, 2018	5,829
Less: Premium	(3,109)
Total subordinated debt due at Maturity on March 15, 2030	$ 16,270

Borrowings - Schedule of Matu55

Borrowings - Schedule of Maturities of Long-Term Debt (Parenthetical) (Detail)	9 Months Ended
	Mar. 31, 2018
Subordinated Notes
Debt Instrument [Line Items]
Debt maturity date	Mar. 15, 2030

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 22, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Tax [Line Items]
Federal net operating loss carryforwards		$ 1,700,000		$ 1,700,000
Operating loss carryforward for state income tax		$ 217,000		217,000
Federal corporate income tax rate	35.00%	21.00%
Effect of reduction in corporate income tax				248,000
Income tax benefit		$ 182	$ 85	182	$ 1,049
CRIC IT Fort Myers LLC
Income Tax [Line Items]
Income tax benefit		$ 200		$ 200
Minimum | Federal
Income Tax [Line Items]
Operating loss carryforwards expiration period				2,018
Minimum | State
Income Tax [Line Items]
Operating loss carryforwards expiration period				2,018
Maximum | Federal
Income Tax [Line Items]
Operating loss carryforwards expiration period				2,037
Maximum | State
Income Tax [Line Items]
Operating loss carryforwards expiration period				2,037