Cineverse (CNVS) 10-Q 14 Feb 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Feb. 09, 2017
Document and Entity Information [Abstract]
Entity Central Index Key	1,173,204
Entity Registrant Name	CINEDIGM CORP.
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Current Fiscal Year End Date	--03-31
Amendment Flag	false
Entity Common Stock, Shares Outstanding		10,525,001
Entity Filer Category	Accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Current assets
Cash and cash equivalents	$ 16,831	$ 25,481
Accounts receivable, net	69,014	52,898
Inventory	1,241	2,024
Unbilled revenue	4,391	5,570
Prepaid and other current assets	14,896	15,872
Total current assets	106,373	101,845
Restricted cash	1,000	8,983
Property and equipment, net	38,196	61,740
Intangible assets, net	21,623	25,940
Goodwill	8,701	8,701
Debt issuance costs	0	894
Other assets	1,223	1,295
Total assets	177,116	209,398
Current liabilities
Accounts payable and accrued expenses	84,660	68,517
Current portion of notes payable, non-recourse (see Note 6)	7,514	29,074
Current portion of capital leases	96	341
Current portion of deferred revenue	2,687	2,901
Total current liabilities	94,957	100,833
Notes payable, non-recourse, net of current portion and unamortized debt issuance costs and debt discounts of $2,867 and $4,577, respectively (see Note 6)	64,395	83,238
Notes payable, net of current portion	84,518	86,938
Capital leases, net of current portion	0	3,884
Deferred revenue, net of current portion	5,671	7,532
Total liabilities	249,541	282,425
Stockholders’ deficit
Additional paid-in capital	276,228	269,871
Treasury stock, at cost; 277,244; Class A common shares at December 31, 2016 and March 31, 2016, respectively	(2,839)	(2,839)
Accumulated deficit	(348,200)	(342,448)
Accumulated other comprehensive loss	(55)	(64)
Total stockholders’ deficit of Cinedigm Corp.	(71,225)	(71,842)
Deficit attributable to noncontrolling interest	(1,200)	(1,185)
Total deficit	(72,425)	(73,027)
Total liabilities and deficit	177,116	209,398
Series A preferred stock
Stockholders’ deficit
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 7 shares issued and outstanding at December 31, 2016 and March 31, 2016, respectively. Liquidation preference of $3,648	3,559	3,559
Class A common stock
Stockholders’ deficit
Common stock, $0.001 par value; Class A and Class B stock; Class A stock 25,000,000 and 21,000,000 shares authorized; 10,503,413 and 7,977,861 shares issued and 10,126,269 and 7,700,617 shares outstanding at December 31, 2016 and March 31, 2016, respectively; 1,241,000 Class B stock authorized and issued and zero shares outstanding at December 31, 2016 and March 31, 2016, respectively	$ 82	$ 79

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2015	Mar. 31, 2016
Unamortized debt issuance expense	$ 6,248,000		$ 3,898,000
Preferred stock, shares authorized (shares)	15,000,000		15,000,000
Secured Debt
Unamortized debt issuance expense	$ 2,867,000		$ 4,577,000
Series A preferred stock
Preferred stock, shares authorized (shares)	20		20
Preferred stock, dividend rate (percentage)	10.00%	10.00%
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001
Preferred stock, shares issued (shares)	7		7
Preferred stock, shares outstanding (shares)	7		7
Preferred stock, liquidation preference	$ 3,648		$ 3,648
Class A common stock
Common stock, shares authorized (shares)	25,000,000		21,000,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares issued (shares)	10,503,413		7,977,861
Common stock, shares outstanding (shares)	10,126,269		7,700,617
Treasury stock, Class A shares (shares)	277,244		277,244
Class B common stock
Common stock, shares authorized (shares)	1,241,000		1,241,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares issued (shares)	1,241,000		1,241,000
Common stock, shares outstanding (shares)	0		0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenues	$ 24,445,000	$ 30,708,000	$ 70,800,000	$ 81,240,000
Costs and expenses:
Direct operating (excludes depreciation and amortization shown below)	7,287,000	8,512,000	17,880,000	24,192,000
Selling, general and administrative	6,095,000	7,610,000	17,766,000	25,937,000
Provision for doubtful accounts	416,000	0	416,000	339,000
Restructuring, transition and acquisition expenses, net	22,000	576,000	132,000	772,000
Goodwill impairment	0	0	0	18,000,000
Litigation recovery, net of expenses	0	(225,000)	0	(635,000)
Depreciation and amortization of property and equipment	6,271,000	9,428,000	22,558,000	28,212,000
Amortization of intangible assets	1,395,000	1,463,000	4,322,000	4,385,000
Total operating expenses	21,486,000	27,364,000	63,074,000	101,202,000
Income (loss) from operations	2,959,000	3,344,000	7,726,000	(19,962,000)
Interest expense, net	(4,827,000)	(5,158,000)	(14,873,000)	(15,480,000)
Loss on extinguishment of debt	(690,000)	0	(690,000)	(931,000)
Debt conversion expense	(409,000)	0	(409,000)	0
Other income, net	(55,000)	274,000	211,000	506,000
Gain on termination of capital lease	2,535,000	0	2,535,000	0
Change in fair value of interest rate derivatives	39,000	34,000	104,000	(32,000)
Loss from operations before income taxes	(448,000)	(1,506,000)	(5,396,000)	(35,899,000)
Income tax expense	(33,000)	(470,000)	(143,000)	(470,000)
Net loss	(481,000)	(1,976,000)	(5,539,000)	(36,369,000)
Net loss (income) attributable to noncontrolling interest	18,000	(487,000)		688,000
Net loss attributable to controlling interests	(463,000)	(2,463,000)	(5,485,000)	(35,681,000)
Preferred stock dividends	(89,000)	(89,000)	(267,000)	(267,000)
Net loss attributable to common stockholders	$ (552,000)	$ (2,552,000)	$ (5,752,000)	$ (35,948,000)
Net loss per Class A and Class B common stock attributable to common stockholders - basic and diluted:
Net loss attributable to common stockholders (in dollars per share)	$ (0.07)	$ (0.40)	$ (0.78)	$ (5.56)
Weighted average number of Class A and Class B common stock outstanding: basic and diluted (in shares)	8,361,807	6,366,685	7,409,746	6,468,392

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (481)	$ (1,976)	$ (5,539)	$ (36,369)
Other comprehensive (loss) income: foreign exchange translation	(9)	(15)	9	15
Comprehensive loss	(490)	(1,991)	(5,530)	(36,354)
Less: comprehensive loss attributable to noncontrolling interest	18	(487)	54	688
Comprehensive loss attributable to controlling interests	$ (472)	$ (2,478)	$ (5,476)	$ (35,666)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (5,539,000)	$ (36,369,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization of property and equipment and amortization of intangible assets	26,880,000	32,597,000
Goodwill impairment	0	18,000,000
Gain on termination of capital lease	(2,535,000)	0
Loss on disposal of property and equipment	0	130,000
Amortization of debt issuance costs included in interest expense	2,158,000	1,828,000
Provision for doubtful accounts	416,000	339,000
Provision for inventory reserve	299,000	500,000
Stock-based compensation and expenses	1,364,000	1,424,000
Change in fair value of interest rate derivatives	104,000	32,000
Accretion and PIK interest expense added to note payable	681,000	1,540,000
Loss on extinguishment of note payable and debt conversion expense	(1,099,000)	(931,000)
Changes in operating assets and liabilities;
Accounts receivable	(16,460,000)	(11,542,000)
Inventory	484,000	(95,000)
Unbilled revenue	1,179,000	(398,000)
Prepaid expenses and other assets	631,000	987,000
Accounts payable and accrued expenses	15,926,000	6,838,000
Deferred revenue	(2,075,000)	(1,664,000)
Net cash provided by operating activities	24,612,000	15,078,000
Cash flows from investing activities:
Purchases of property and equipment	(375,000)	(1,411,000)
Purchases of intangible assets	(5,000)	(5,000)
Net cash used in investing activities	(380,000)	(1,416,000)
Cash flows from financing activities:
Payment of notes payable	(42,115,000)	(48,744,000)
Net repayments under revolving credit agreement	(2,328,000)	(2,367,000)
Proceeds from issuance of notes payable	5,525,000	64,000,000
Payment for structured stock repurchase forward contract	0	(11,440,000)
Repurchase of Class A common stock	0	(2,667,000)
Principal payments on capital leases	(194,000)	(372,000)
Payments of debt issuance costs	(1,792,000)	(3,655,000)
Change in restricted cash balances	7,983,000	(2,233,000)
Capital contributions from noncontrolling interest	39,000
Net cash used in financing activities	(32,882,000)	(6,424,000)
Net change in cash and cash equivalents	(8,650,000)	7,238,000
Cash and cash equivalents at beginning of period	25,481,000	18,999,000
Cash and cash equivalents at end of period	$ 16,831,000	$ 26,237,000

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (parenthetical)	Dec. 31, 2016	Dec. 31, 2014
5.5% Convertible Notes | Convertible Debt
Debt interest rate, stated rate	5.50%	5.50%

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS AND LIQUIDITY Cinedigm Corp. ("Cinedigm," the "Company," "we," "us," or similar pronouns) was incorporated in Delaware on March 31, 2000. We are (i) a leading distributor and aggregator of independent movie, television and other short form content managing a library of distribution rights to thousands of titles and episodes released across digital, physical, theatrical, home and mobile entertainment platforms and (ii) a leading servicer of digital cinema assets in over 12,000 movie screens in both North America and several international countries. We report our financial results in four primary segments as follows: (1) the first digital cinema deployment (“Phase I Deployment”), (2) the second digital cinema deployment (“Phase II Deployment”), (3) digital cinema services (“Services”) and (4) media content and entertainment group (“Content & Entertainment” or "CEG"). The Phase I Deployment and Phase II Deployment segments are the non-recourse, financing vehicles and administrators for our digital cinema equipment (the “Systems”) installed in movie theatres throughout the United States, and in Australia and New Zealand. Our Services segment provides fee based support to over 12,000 movie screens in our Phase I Deployment and Phase II Deployment segments, as well as directly to exhibitors and other third party customers, in the form of monitoring, billing, collection and verification services. Our Content & Entertainment segment is focused on: (1) ancillary market aggregation and distribution of entertainment content and; (2) a branded and curated over-the-top ("OTT") digital network business, providing entertainment channels and applications. We are structured so that our digital cinema business (collectively, the Phase I Deployment, Phase II Deployment and Services segments) operates independently from our Content & Entertainment segment. As of December 31, 2016 , we had approximately $74.8 million of outstanding debt principal that relates to, and is serviced by, our digital cinema business and is non-recourse to us. We also had approximately $90.8 million of outstanding debt principal that is a part of our Content & Entertainment and Corporate segments. In May 2016, we effected a 1-for-10 reverse stock split of our Class A common stock, whereby each 10 shares of our Class A common stock and common stock equivalents were converted into 1 share of Class A common stock. All share and per share amounts in the accompanying Consolidated Financial Statements and these Notes to the Consolidated Financial Statements have been retroactively adjusted to give effect to the reverse stock split. Liquidity We have incurred net losses historically and have an accumulated deficit of $348.2 million as of December 31, 2016 . We may continue to generate net losses for the foreseeable future. We also have significant contractual obligations related to our recourse and non-recourse debt for the fiscal year ending March 31, 2017 and beyond. In addition, as discussed in more detail in Note 6 - Notes Payable , our debt obligations have instituted certain financial and liquidity covenants and capital requirements, and from time to time, we may need to use available capital resources and raise additional capital to satisfy these covenants and requirements. As of December 31, 2016 , we had cash and restricted cash balances of $17.8 million . During the nine months ended December 31, 2016 , we used $8.0 million of restricted cash for payments on our long-term debt obligations. In addition, during the nine months ended December 31, 2016 , we issued notes payable with an aggregate principal amount of $5.5 million . See the section Second Secured Lien Notes in Note 6 - Notes Payable for a full discussion of the issuance of the notes. We have plans in place which, when implemented, will effectively mitigate the liquidity conditions described above and ensure the Company will have adequate resources to implement its business strategy and continue as a going-concern for at least a year after these condensed consolidated financial statements are available to be issued. We have implemented cost reduction plans during fiscal years 2016 and 2017 and expect to continue to do so through the end of the fiscal year. These plans have been approved by our board of directors and are expected to achieve savings through personnel reductions, changes to occupancy costs and other related expenses. We continue to expect cash flows from our Phase I and II deployment operations will be sufficient to satisfy our liquidity and contractual requirements that are linked to these operations.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND CONSOLIDATION The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company, its wholly owned and majority owned subsidiaries, and reflect all normal and recurring adjustments necessary for the fair presentation of its consolidated financial position, results of operations and cash flows. All material inter-company accounts and transactions have been eliminated in consolidation. Investments in which we do not have a controlling interest or are not the primary beneficiary but have the ability to exert significant influence, are accounted for under the equity method of accounting. Noncontrolling interests for which we have been determined to be the primary beneficiary are consolidated and recorded as net loss attributable to noncontrolling interest. See Note 4 - Other Interests to the Condensed Consolidated Financial Statements for a discussion of our noncontrolling and majority interests. RECLASSIFICATIONS We have reclassified certain amounts previously reported in our condensed consolidated financial statements to conform to the current presentation, including reclassifying a contribution from non-controlling interest in the amount of $1.1 million in 2015 from investing activities to financing activities in the condensed consolidated statement of cash flows. USE OF ESTIMATES The preparation of these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under GAAP, interim accounting for certain expenses, such as the adequacy of accounts receivable reserves, return reserves, inventory reserves, recovery of advances, minimum guarantees, assessment of goodwill and intangible asset impairment and valuation reserve for income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. The results of operations for the respective interim periods are not necessarily indicative of the results expected for the full year. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2016 . CASH AND CASH EQUIVALENTS We consider all highly liquid investments with an original maturity of three months or less to be "cash equivalents." We maintain bank accounts with major banks, which from time to time may exceed the Federal Deposit Insurance Corporation’s insured limits. We periodically assess the financial condition of the institutions and believe that the risk of any loss is minimal. ACCOUNTS RECEIVABLE We maintain reserves for potential credit losses on accounts receivable. We review the composition of accounts receivable and analyze historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Reserves are recorded primarily on a specific identification basis. Our Content & Entertainment segment recognizes accounts receivable, net of an estimated allowance for product returns and customer chargebacks, at the time that it recognizes revenue from a sale. We base the amount of the returns allowance and customer chargebacks upon historical experience and future expectations. We record accounts receivable, long-term in connection with activation fees that we earn from Systems deployments that have extended payment terms. Such accounts receivable are discounted to their present value at prevailing market rates. UNBILLED AND DEFERRED REVENUE Unbilled revenue represent amounts recognized as revenue for which invoices have not yet been sent to clients. Deferred revenue represents amounts billed or payments received for which revenue has not yet been earned. ADVANCES Advances, which are recorded within prepaid and other current assets within the consolidated balance sheets, represent amounts prepaid to studios or content producers for which we provide content distribution services. We evaluate advances regularly for recoverability and record charges for amounts that we expect may not be recoverable as of the consolidated balance sheet date. INVENTORY Inventory consists of finished goods inventory of Company owned DVD and Blu-ray Disc titles and is stated at the lower of cost (determined based on weighted average cost) or market. We identify inventory items to be written down for obsolescence based on their sales status and condition. We write down discontinued or slow moving inventories based on an estimate of the markdown to retail price needed to sell through our current stock level of the inventories. RESTRICTED CASH Our Prospect Loan requires that we maintain specified cash balances that are restricted to repayment of interest thereunder. See Note 6 - Notes Payable for information about our restricted cash balances. PROPERTY AND EQUIPMENT Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the leasehold improvements. Repair and maintenance costs are charged to expense as incurred. Major renewals, improvements and additions are capitalized. Upon the sale or other disposition of any property and equipment, the cost and related accumulated depreciation and amortization are removed from the accounts and the gain or loss on disposal is included in the condensed consolidated statements of operations. ACCOUNTING FOR DERIVATIVE ACTIVITIES Derivative financial instruments are recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized in accumulated other comprehensive loss (a component of stockholders' deficit) or in the consolidated statements of operations depending on whether the derivative qualifies for hedge accounting. We entered into an interest rate cap transaction during the fiscal year ended March 31, 2013 to limit our exposure to interest rates related to our 2013 Term Loans and Prospect Loan. The interest rate cap on the 2013 Term Loans matured in March 2016 and the interest rate cap on the Prospect Loan matures March of 2018. We have not sought hedge accounting treatment for these instruments and therefore, changes in the value of our Interest Rate Swaps and caps were recorded in the condensed consolidated statements of operations. FAIR VALUE MEASUREMENTS The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 – quoted prices in active markets for identical investments • Level 2 – other significant observable inputs (including quoted prices for similar investments and market corroborated inputs) • Level 3 – significant unobservable inputs (including our own assumptions in determining the fair value of investments) Assets and liabilities measured at fair value on a recurring basis use the market approach, where prices and other relevant information are generated by market transactions involving identical or comparable assets or liabilities. The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 1,000 $ — $ — $ 1,000 March 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 12 — 12 $ 8,983 $ 12 $ — $ 8,995 Our cash and cash equivalents, accounts receivable, unbilled revenue and accounts payable and accrued expenses are financial instruments and are recorded at cost in the Condensed Consolidated Balance Sheets. The estimated fair values of these financial instruments approximate their carrying amounts because of their short-term nature. The carrying amount of notes receivable approximates fair value based on the discounted cash flows of such instruments using current assumptions at the balance sheet date. At December 31, 2016 and March 31, 2016 , the estimated fair value of our fixed rate debt approximated its carrying amounts. We estimated the fair value of debt based upon current interest rates available to us at the respective balance sheet dates for arrangements with similar terms and conditions. Based on borrowing rates currently available to us for loans with similar terms, the carrying value of notes payable and capital lease obligations approximates fair value. IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS We review the recoverability of our long-lived assets and finite-lived intangible assets, when events or conditions occur that indicate a possible impairment exists. The assessment for recoverability is based primarily on our ability to recover the carrying value of our long-lived and finite-lived assets from expected future undiscounted net cash flows. If the total of expected future undiscounted net cash flows is less than the total carrying value of the asset, the asset is deemed not to be recoverable and possibly impaired. We then estimate the fair value of the asset to determine whether an impairment loss should be recognized. An impairment loss will be recognized if the asset's fair value is determined to be less than its carrying value. Fair value is determined by computing the expected future discounted cash flows. During the three and nine months ended December 31, 2016 and 2015 , no impairment charge was recorded from operations for long-lived assets or finite-lived assets. GOODWILL Goodwill is the excess of the purchase price paid over the fair value of the net assets of an acquired business. Goodwill is tested for impairment on an annual basis at the end of the fourth quarter of each fiscal year, or more often if warranted by events or changes in circumstances indicating that the carrying value of a reporting unit may exceed fair value, also known as impairment indicators. Our process of evaluating goodwill for impairment involves the determination of fair value of goodwill compared to its carrying value. Our only reporting unit with goodwill is our Content & Entertainment reporting unit. Inherent in the fair value determination for each reporting unit are certain judgments and estimates relating to future cash flows, including management’s interpretation of current economic indicators and market conditions, and assumptions about our strategic plans with regard to its operations. To the extent additional information arises, market conditions change or our strategies change, it is possible that the conclusion regarding whether our remaining goodwill is impaired could change and result in future goodwill impairment charges that will have a material effect on our consolidated financial position or results of operations. No goodwill impairment charge was recorded in the nine months ended December 31, 2016 . For the nine months ended December 31, 2015 , we recorded a goodwill impairment charge of $18.0 million . PARTICIPATIONS AND ROYALTIES PAYABLE When we use third parties to distribute company owned content, we record participations payable, which represent amounts owed to the distributor under revenue-sharing arrangements. When we provide content distribution services, we record accounts payable and accrued expenses to studios or content producers for royalties owed under licensing arrangements. We identify and record as a reduction to the liability any expenses that are to be reimbursed to us by such studios or content producers. DEBT ISSUANCE COSTS We incur debt issuance costs in connection with long-term debt financings. Such costs are recorded as a direct deduction to notes payable and amortized over the terms of the respective debt obligations using the effective interest rate method. Debt issuance costs recorded in connection with revolving debt arrangements are presented in other assets on the Consolidated Balance Sheets and are amortized over the term of the revolving debt agreements using the effective interest rate method. REVENUE RECOGNITION Phase I Deployment and Phase II Deployment Virtual print fees (“VPFs”) are earned, net of administrative fees, pursuant to contracts with movie studios and distributors, whereby amounts are payable by a studio to Phase 1 DC, CDF I and to Phase 2 DC when movies distributed by the studio are displayed on screens utilizing our Systems installed in movie theatres. VPFs are earned and payable to Phase 1 DC and CDF I based on a defined fee schedule with a reduced VPF rate year over year until the sixth year (calendar year 2011) at which point the VPF rate remains unchanged through the tenth year until the VPFs phase out. One VPF is payable for every digital title displayed per System. The amount of VPF revenue is dependent on the number of movie titles released and displayed using the Systems in any given accounting period. VPF revenue is recognized in the period in which the digital title first plays on a System for general audience viewing in a digitally equipped movie theatre, as Phase 1 DC’s, CDF I's and Phase 2 DC’s performance obligations have been substantially met at that time. Beginning in December 2015, certain Phase 1 DC Systems began to reach the conclusion of their deployment payment period with certain distributors and, therefore, VPF revenues ceased to be recognized on such Systems. Furthermore, because the Phase I deployment installation period ended in November 2007, a majority of the VPF revenue associated with the Phase I systems will end by November 2017 and, therefore, we expect VPF revenue to decrease materially compared to prior periods. As of December 31, 2016 , 1,892 of the systems in our Phase I Deployment segment had ceased to earn a significant portion VPF revenue from certain major studios, representing approximately 50% of the total Systems in our Phase I deployment and approximately 47% of active Phase I theatre locations. By December 2017, we expect that nearly all of our Phase I deployment systems will no longer earn VPF revenue from certain major studios. We expect to continue to earn ancillary revenue streams from the Phase I deployment Systems through December of 2020; however, such amounts are expected to be significantly less material to our consolidated financial statements. The expected reduction in VPF revenue on our Phase I systems is scheduled to approximately coincide with the conclusion of certain of our non-recourse debt obligations and, therefore, we expect that reduced cash outflows related to such non-recourse debt obligations will partially offset reduced VPF revenue after November 2017. Phase 2 DC’s agreements with distributors require the payment of VPFs, according to a defined fee schedule, for ten years from the date each system is installed; however, Phase 2 DC may no longer collect VPFs once “cost recoupment,” as defined in the contracts with movie studios and distributors, is achieved. Cost recoupment will occur once the cumulative VPFs and other cash receipts collected by Phase 2 DC have equaled the total of all cash outflows, including the purchase price of all Systems, all financing costs, all “overhead and ongoing costs”, as defined, and including service fees, subject to maximum agreed upon amounts during the three-year rollout period and thereafter. Further, if cost recoupment occurs before the end of the eighth contract year, the studios will pay us a one-time “cost recoupment bonus.” Any other cash flows, net of expenses, received by Phase 2 DC following the achievement of cost recoupment are required to be returned to the distributors on a pro-rata basis. At this time, we cannot estimate the timing or probability of the achievement of cost recoupment. Beginning in December 2018, certain Phase 2 DC Systems will have reached the conclusion of their deployment payment period, subject to earlier achievement of cost recoupment. In accordance with existing agreements with distributors, VPF revenues will cease to be recognized on such Systems. Because the Phase II deployment installation period ended in December 2012, a majority of the VPF revenue associated with the Phase II systems will end by December 2022 or earlier if cost recoupment is achieved. Alternative content fees (“ACFs”) are earned pursuant to contracts with movie exhibitors, whereby amounts are payable to Phase 1 DC, CDF I and to Phase 2 DC, generally either a fixed amount or as a percentage of the applicable box office revenue derived from the exhibitor’s showing of content other than feature movies, such as concerts and sporting events (typically referred to as “alternative content”). ACF revenue is recognized in the period in which the alternative content first opens for audience viewing. Revenues earned in connection with up front exhibitor contributions are deferred and recognized over the expected cost recoupment period. Services Exhibitors who purchased and own Systems using their own financing in the Phase II Deployment paid us an upfront activation fee of approximately $2.0 thousand per screen (the “Exhibitor-Buyer Structure”). Upfront activation fees were recognized in the period in which these Systems were delivered and ready for content, as we had no further obligations to the customer after that time and collection was reasonably assured. In addition, we recognize activation fee revenue of between $1.0 thousand and $2.0 thousand on Phase 2 DC Systems and for Systems installed by CDF2 Holdings, a related party, (See Note 3 - Other Interests ) upon installation and such fees are generally collected upfront upon installation. Our services segment manages and collects VPFs on behalf of exhibitors, for which it earns an administrative fee equal to 10% of the VPFs collected. Our Services segment earns an administrative fee of approximately 5% of VPFs collected and, in addition, earns an incentive service fee equal to 2.5% of the VPFs earned by Phase 1 DC. This administrative fee is recognized in the period in which the billing of VPFs occurs, as performance obligations have been substantially met at that time. Content & Entertainment CEG earns fees for the distribution of content in the home entertainment markets via several distribution channels, including digital, VOD, and physical goods (e.g. DVD and Blu-ray Discs). Fees earned are typically based on the gross amounts billed to our customers less the amounts owed to the media studios or content producers under distribution agreements, and gross media sales of owned or licensed content. Depending upon the nature of the agreements with the platform and content providers, the fee rate that we earn varies. Generally, revenues are recognized when content is available for subscription on the digital platform, at the time of shipment for physical goods, or point-of-sale for transactional and VOD services. Reserves for sales returns and other allowances are recorded based upon historical experience. If actual future returns and allowances differ from past experience, adjustments to our allowances may be required. Sales returns and allowances are reported as a reduction of revenues. CEG also has contracts for the theatrical distribution of third party feature movies and alternative content. CEG’s distribution fee revenue and CEG's participation in box office receipts is recognized at the time a feature movie and alternative content are viewed. CEG has the right to receive or bill a portion of the theatrical distribution fee in advance of the exhibition date, and therefore such amount is recorded as a receivable at the time of execution, and all related distribution revenue is deferred until the third party feature movies’ or alternative content’s theatrical release date. Revenue is deferred in cases where a portion or the entire contract amount cannot be recognized as revenue due to non-delivery of services. Such amounts are classified as deferred revenue and are recognized as earned revenue in accordance with our revenue recognition policies described above. DIRECT OPERATING COSTS Direct operating costs primarily consist of operating costs such as cost of goods sold, fulfillment expenses, property taxes and insurance on systems, shipping costs, royalty expenses, participation expenses, marketing and direct personnel costs. STOCK-BASED COMPENSATION Employee and director stock-based compensation expense from continuing operations related to our stock-based awards was as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, (In thousands) 2016 2015 2016 2015 Direct operating $ 3 $ 3 $ 8 $ 14 Selling, general and administrative 341 347 1,356 1,410 $ 344 $ 350 $ 1,364 $ 1,424 The weighted-average grant-date fair value of options granted during the three and nine months ended December 31, 2015 was $3.48 and $4.67 , respectively. No stock options were granted or exercised in the three and nine months ended December 31, 2016 . During the three and nine months ended December 31, 2015 , we granted 5,500 and 18,500 stock options, respectively. During the three and nine months ended December 31, 2015 , there were 2,500 options exercised. We estimate the fair value of time-based restricted stock awards to employees using our closing stock price on the date of grant and estimate the fair value of stock options at the date of each grant using a Black-Scholes option valuation model. We used the following assumptions in our Black-Scholes option valuation model for the periods in which there were stock option grants: For the Three Months Ended December 31, For the Nine Months Ended December 31, Assumptions for Option Grants 2015 2015 Range of risk-free interest rates 1.4% - 1.7% 1.4% - 1.7% Dividend yield — — Expected life (years) 5 5 Range of expected volatilities 70.7% - 71.4% 70.6% - 71.4% The risk-free interest rate used in the Black-Scholes option pricing model for options granted under our stock option plan awards is the historical yield on U.S. Treasury securities with equivalent remaining lives. We do not currently anticipate paying any cash dividends on common stock in the foreseeable future. Consequently, an expected dividend yield of zero is used in the Black-Scholes option-pricing model. We estimate the expected life of options granted under our stock option plans using both exercise behavior and post-vesting termination behavior, as well as consideration of outstanding options. We estimate expected volatility for options granted under our stock option plans based on a measure of our Class A common stock's historical volatility in the trading market. INCOME TAXES Income taxes are provided for based on the asset and liability method of accounting. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. NET LOSS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS Basic and diluted net loss per common share has been calculated as follows: Basic and diluted net loss per common share attributable to common stockholders = Net loss attributable to common stockholders Weighted average number of common stock outstanding during the period Stock issued and treasury stock repurchased during the period are weighted for the portion of the period that they are outstanding. The shares to be repurchased in connection with the forward stock purchase transaction discussed in Note 7 - Stockholders' Deficit are considered repurchased for the purposes of calculating earnings per share and therefore the calculation of weighted average shares outstanding for the three months and nine months ended December 31, 2016 and 2015, excludes 1.2 million shares that will be repurchased as a result of the forward stock purchase transaction. We incurred net losses for the three and nine months ended December 31, 2016 and 2015 , and therefore the impact of potentially dilutive common shares from outstanding stock options and warrants, totaling 1,420,227 shares and 2,729,712 shares as of December 31, 2016 and 2015 , respectively, were excluded from the computation of loss per share as their impact would have been anti-dilutive. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). The FASB issued ASU 2016-15 to decrease the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this update provide guidance on eight specific cash flow issues. This guidance is effective for the Company as of the first quarter of its fiscal year ending March 31, 2019 and should be applied using the retrospective transition method to each period presented. Early adoption is permitted but all amendments must be adopted in the same period. The new guidance is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Restricted Cash, which clarifies guidance and presentation related to restricted cash in the statement of cash flows, including stating that restricted cash should be included within cash and cash equivalents on the statement of cash flows. The standard is effective for fiscal years beginning after December 15, 2017, with early adoption permitted, and is to be applied retrospectively. We are currently evaluating the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, the new guidance eliminates the need to determine the fair value of individual assets and liabilities of a reporting unit to measure a goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value. The revised guidance will be applied prospectively, and is effective for calendar year-end SEC filers in 2020. Early adoption is permitted for any impairment tests performed after April 1, 2017. The new guidance is not expected to have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued ASU 2017-03 which amended Accounting Changes and Error Corrections (Topic 250) to state that registrants should consider additional qualitative disclosures if the impact of an issued but not yet adopted ASU is unknown or cannot be reasonably estimated and to include a description of the effect of the accounting policies that the registrant expects to apply, if determined. Transition guidance included in certain issued but not yet adopted ASUs was also updated to reflect this amendment.

OTHER INTERESTS

OTHER INTERESTS	9 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Other Interests	OTHER INTERESTS Investment in CDF2 Holdings We indirectly own 100% of the common equity of CDF2 Holdings, LLC ("CDF2 Holdings"), which was created for the purpose of capitalizing on the conversion of the exhibition industry from film to digital technology. CDF2 Holdings assists its customers in procuring the equipment necessary to convert their Systems to digital technology by providing financing, equipment, installation and related ongoing services. CDF2 Holdings is a Variable Interest Entity (“VIE”), as defined in Accounting Standards Codification Topic 810 ("ASC 810"), “Consolidation." ASC 810 requires the consolidation of VIEs by an entity that has a controlling financial interest in the VIE which entity is thereby defined as the primary beneficiary of the VIE. To be a primary beneficiary, an entity must have the power to direct the activities of a VIE that most significantly impact the VIE's economic performance, among other factors. Although we indirectly, wholly own CDF2 Holdings, we, a third party that also has a variable interest in CDF2 Holdings, and an independent third party manager must mutually approve all business activities and transactions that significantly impact CDF2 Holdings' economic performance. We have therefore assessed our variable interests in CDF2 Holdings and determined that we are not the primary beneficiary of CDF2 Holdings. As a result, CDF2 Holdings' financial position and results of operations are not consolidated in our financial position and results of operations. In completing our assessment, we identified the activities that we consider most significant to the economic performance of CDF2 Holdings and determined that we do not have the power to direct those activities, and therefore we account for our investment in CDF2 Holdings under the equity method of accounting. As of December 31, 2016 and March 31, 2016 , our maximum exposure to loss, as it relates to the non-consolidated CDF2 Holdings entity, represents accounts receivable for service fees under a master service agreement with CDF2 Holdings. Such accounts receivable were $0.4 million and $0.4 million as of December 31, 2016 and March 31, 2016 , which are included in accounts receivable, net on the accompanying Condensed Consolidated Balance Sheets. For the three months ended December 31, 2016 and 2015 , the accompanying Condensed Consolidated Statements of Operations includes $0.3 million of digital cinema servicing revenue from CDF2 Holdings. For each of the nine months periods ended December 31, 2016 and 2015 , we recorded $0.9 million of such revenue. Total Stockholder's Deficit of CDF2 Holdings at December 31, 2016 and March 31, 2016 was $17.6 million and $11.9 million , respectively. We have no obligation to fund the operating loss or the stockholder's deficit beyond our initial investment of $2.0 million and, accordingly, our investment in CDF2 Holdings as of December 31, 2016 and March 31, 2016 is carried at $0 . Majority Interest in CONtv In June 2014, we and Wizard World, Inc. ("Wizard World") formed CON TV, LLC (“CONtv”) to fund, design, create, launch, and operate a worldwide digital network that creates original content, and sells and distributes on-demand digital content via the Internet and other consumer digital distribution platforms, such as gaming consoles, set-top boxes, handsets, and tablets. In November 2015, we entered into an Amended and Restated Operating Agreement with Wizard World (the noncontrolling interest partner) and other non-voting equity holders. The agreement restructured our business relationship with Wizard World with respect to the ownership and operation of CONtv, and was retroactively effective to July 1, 2015. Pursuant to the terms of the Amended and Restated Operating Agreement, we attained a majority interest in CONtv by increasing our ownership percentage to 85% from 47.5% . In connection with increasing our ownership percentage, we reclassified certain capital contributions made by Wizard World to additional paid-in capital, to the extent that such capital contributions were in excess of its amended ownership percentage. In addition, we retroactively reduced the loss attributable to the noncontrolling interest partner to July 1, 2015 in accordance with the Amended and Restated Operating Agreement. During the three months and nine months ended December 31, 2016 , we made $8 thousand and $46 thousand total contributions in CONtv, respectively. Wizard World Inc.'s share of stockholders' deficit in CONtv is reflected as noncontrolling interest in our Condensed Consolidated Balance Sheets and was $1.2 million as of December 31, 2016 and March 31, 2016 , respectively.

RESTRUCTURING, TRANSITION AND A

RESTRUCTURING, TRANSITION AND ACQUISITIONS EXPENSES	9 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
RESTRUCTURING, TRANSITION AND ACQUISITIONS EXPENSES	RESTRUCTURING, TRANSITION AND ACQUISITIONS EXPENSES 2016 Workforce Reduction During the year ended March 31, 2016, we completed a strategic assessment of resource requirements within our Content & Entertainment and Corporate reporting segments to better align our cost structure with anticipated revenues. The following table presents a roll forward of restructuring, transition and acquisition expenses and related liability balances: (In thousands) Amount accrued as of March 31, 2016 $ 505 Costs incurred 132 Amounts paid (593 ) Amount accrued as of December 31, 2016 $ 44

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We calculate income tax expense based upon an annual effective tax rate forecast, including estimates and assumptions that could change during the year. Income tax expense recorded for each of the three and nine months ended December 31, 2016 and 2015 represents state income taxes and U.S. Federal alternative minimum income taxes, primarily related to taxable income in our Phase I deployment business. Although we have recorded deferred tax assets, primarily related to net operating loss carry forwards, we have provided a full valuation allowance against such assets and, as a result, we have not recorded an income tax benefit related to such carry forwards in our Condensed Consolidated Statement of Operations for any of the periods presented.

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE Notes payable consisted of the following: December 31, 2016 March 31, 2016 (In thousands) Current Portion Long Term Portion Current Portion Long Term Portion 2013 Term Loans $ — $ — $ 21,188 $ 9,857 Prospect Loan — 62,442 — 66,543 KBC Facilities 7,225 4,556 7,646 10,998 P2 Vendor Note 205 220 161 310 P2 Exhibitor Notes 84 44 79 107 Total non-recourse notes payable 7,514 67,262 29,074 87,815 Less: Unamortized debt issuance costs and debt discounts — (2,867 ) — (4,577 ) Total non-recourse notes payable, net of unamortized debt issuance costs and debt discounts $ 7,514 $ 64,395 $ 29,074 $ 83,238 5.5% Convertible Notes Due 2035 $ — $ 60,571 $ — $ 64,000 Second Secured Lien Notes — 5,596 — — Cinedigm Revolving Loans — 19,599 — 21,927 2013 Notes — 5,000 — 5,000 Total recourse notes payable — 90,766 — 90,927 Less: Unamortized debt issuance costs and debt discounts — (6,248 ) — (3,989 ) Total recourse notes payable, net of unamortized debt issuance costs and debt discounts $ — $ 84,518 $ — $ 86,938 Total notes payable, net of unamortized debt issuance costs $ 7,514 $ 148,913 $ 29,074 $ 170,176 Non-recourse debt is generally defined as debt whereby the lenders’ sole recourse with respect to defaults, is limited to the value of the asset, which is collateral for the debt. Certain of our subsidiaries are liable with respect to, and their assets serve as collateral for, certain indebtedness for which our assets and the assets of our other subsidiaries that are not parties to the transaction are generally not liable. We have referred to this indebtedness as "non-recourse debt" because the recourse of the lenders is limited to the assets of specific subsidiaries. Such indebtedness includes the Prospect Loan, the KBC Facilities, the 2013 Term Loans, the P2 Vendor Note and the P2 Exhibitor Notes. 2013 Term Loans In February 2013, CDF I, our wholly owned subsidiary, entered into an amended and restated credit agreement (the “2013 Credit Agreement”) with Société Générale and other lenders, allowing for borrowings up to an aggregate principal amount of $130.0 million , $5.0 million of which was assigned to an affiliate of CDF I. Interest under the 2013 Credit Agreement was calculated using a base rate (generally, the bank prime rate) or the one-month LIBOR rate set at a minimum of 1.00% , plus a margin of 1.75% (in the case of base rate loans) or 2.75% (in the case of LIBOR rate loans). The 2013 Term Loans were repaid in full in November 2016 using the balance of restricted cash and collections that we had designated for payment of the 2013 Term Loans. In connection with the repayment of the 2013 Term Loans, we wrote-off the remaining unamortized debt issuance costs and debt discount related to such loans. As a result, we recorded $0.7 million as a loss on extinguishment of debt for the nine months ended December 31, 2016 . The following table presents a summary of the 2013 Term Loans: (In thousands) December 31, 2016 March 31, 2016 2013 Term Loans, at issuance, net $ 125,087 $ 125,087 Payments to date (125,087 ) (94,043 ) Discount on 2013 Term Loans — (118 ) 2013 Term Loans, net — 30,926 Less current portion — (21,188 ) Total long term portion, net of discount $ — $ 9,738 Prospect Loan In February 2013, our DC Holdings, AccessDM and Phase 2 DC subsidiaries entered into a term loan agreement (the “Prospect Loan”) with Prospect Capital Corporation (“Prospect”), pursuant to which DC Holdings borrowed $70.0 million . The Prospect Loan bears interest at LIBOR plus 9.0% (with a 2.0% LIBOR floor), which is payable in cash, and at an additional 2.50% to be accrued as an increase to the aggregate principal amount of the Prospect Loan until the 2013 Credit Agreement is paid off, at which time all accrued interest will be payable in cash. Collections of DC Holdings accounts receivable are deposited into accounts designated to pay certain operating expenses, principal, interest, fees, costs and expenses relating to the Prospect Loan. On a quarterly basis, if funds remain after the payment of all such amounts, they are applied to prepay the Prospect Loan. Amounts designated for these purposes, included in cash and cash equivalents on the Condensed Consolidated Balance Sheets, totaled $4.7 million and $8.7 million as of December 31, 2016 and March 31, 2016 , respectively. We also maintain a debt service fund under the Prospect Loan for future principal and interest payments. As of December 31, 2016 and March 31, 2016 , the debt service fund had a balance of $1.0 million , which is classified as part of restricted cash on our condensed consolidated balance sheets. The Prospect Loan matures on March 31, 2021 and may be accelerated upon a change in control (as defined in the agreement) or other events of default as set forth therein and would be subject to mandatory acceleration upon insolvency of DC Holdings. We are permitted to pay the full outstanding balance of the Prospect Loan at any time after the second anniversary of the initial borrowing, subject to the following prepayment penalties: • 5.0% of the principal amount prepaid between the second and third anniversaries of issuance; • 4.0% of the principal amount prepaid between the third and fourth anniversaries of issuance; • 3.0% of the principal amount prepaid between the fourth and fifth anniversaries of issuance; • 2.0% of the principal amount prepaid between the fifth and sixth anniversary of issuance; • 1.0% of the principal amount prepaid between the sixth and seventh anniversaries of issuance; and • No penalty if the balance of the Prospect Loan, including accrued interest, is prepaid thereafter. The Prospect Loan is primarily secured by a first priority pledge of the stock of CDF2 Holdings, our wholly owned unconsolidated subsidiary, the stock of AccessDM, which is owned by DC Holdings, and the stock of our Phase 2 DC subsidiary. The Prospect Loan is also guaranteed by our AccessDM and Phase 2 DC subsidiaries. We provide limited financial support to the Prospect Loan not to exceed $1.5 million per year in the event financial performance does not meet certain defined benchmarks. The Prospect Loan contains customary representations, warranties, affirmative covenants, negative covenants and events of default. The following table summarizes the activity related to the Prospect Loan: (In thousands) December 31, 2016 March 31, 2016 Prospect Loan, at issuance $ 70,000 $ 70,000 PIK Interest 4,778 4,778 Payments to date (12,336 ) (8,235 ) Prospect Loan, net 62,442 66,543 Less current portion — — Total long term portion $ 62,442 $ 66,543 KBC Facilities In December 2008 we began entering into multiple credit facilities to fund the purchase of Systems to be installed in movie theatres as part of our Phase II Deployment. There were no borrowings under the KBC Facilities during the nine months ended December 31, 2016 . The following table presents a summary of the KBC Facilities (dollar amounts in thousands): Outstanding Principal Balance Facility 1 Credit Facility Interest Rate 2 Maturity Date December 31, 2016 March 31, 2016 1 $ 22,336 3.75 % September 2018 $ 4,786 $ 7,180 2 13,312 3.75 % March 2018 1,481 4,034 3 11,425 3.75 % March 2019 3,672 4,896 4 6,450 3.75 % September 2018 1,842 2,534 $ 53,523 $ 11,781 $ 18,644 1. For each facility, principal is to be repaid in twenty-eight quarterly installments. 2. Each of the facilities bears interest at the three-month LIBOR rate, which was 1.00% at December 31, 2016 , plus the interest rate noted above. 5.5% Convertible Notes Due April 2035 On April 29, 2015, we issued $64.0 million aggregate principal amount of unsecured senior convertible notes payable (the "Convertible Notes") that bear interest at a rate of 5.5% per year, payable semiannually. The Convertible Notes will mature on April 15, 2035, unless repurchased earlier, redeemed or converted and will be convertible at the option of the holders at any time until the close of business on the business day immediately preceding the maturity date. Upon conversion, we will deliver to holders in respect of each $1,000 principal amount of Convertible Notes being converted a number of shares of our Class A common stock equal to the conversion rate, together with a cash payment in lieu of delivering any fractional share of Class A common stock. The conversion rate applicable to the Convertible Notes on the offering date was 82.4572 shares of Class A common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $12.13 per share of Class A common stock), which is subject to adjustment if certain events occur. Holders of the Convertible Notes may require us to repurchase all or a portion of the Convertible Notes on April 20, 2020, April 20, 2025 and April 20, 2030 and upon the occurrence of certain fundamental changes at a repurchase price in cash equal to 100% of the principal amount of the Convertible Notes to be repurchased plus accrued and unpaid interest, if any. The Convertible Notes will be redeemable by us at our option on or after April 20, 2018 upon the satisfaction of a sale price condition with respect to our Class A common stock and on or after April 20, 2020 without regard to the sale price condition, in each case, at a redemption price in cash equal to 100% of the principal amount of the notes to be repurchased plus accrued and unpaid interest, if any. The net proceeds from the Convertible Note offering were $60.9 million , after deducting offering expenses. We used $18.6 million of the net proceeds from the offering to repay borrowings under and terminate one of our term loans under our 2013 Credit Agreement, of which $18.2 million was used to pay the remaining principal balance. Concurrently with the closing of the Convertible Notes transaction, we repurchased 272,100 shares of our Class A common stock from certain purchasers of Convertible Notes in privately negotiated transactions for $2.7 million . In addition, $11.4 million of the net proceeds was used to fund the cost of repurchasing 1.2 million shares of our Class A common stock pursuant to the forward stock purchase agreement described in Note 7 - Stockholders' Deficit. Interest expense recorded in connection with the Convertible Notes was $2.6 million and $1.5 million for the nine months ended December 31, 2016 and 2015 , respectively, and $0.9 million for each of the three months ended December 31, 2016 and 2015 . On December 22, 2016, we entered into an exchange agreement pursuant to which we agreed to issue 450,000 shares of our Class A common stock, par value $0.001 per share, and warrants to purchase 200,000 shares of Class A Common Stock in exchange for $3.4 million principal amount of the Convertible Notes (the "Exchange Agreement"). The exchanged notes were immediately canceled. The warrants, which become exercisable six months after issuance, have a five -year term, an exercise price of $1.60 per share, and customary anti-dilution provisions. The exchange was consummated on December 23, 2016. The Convertible Notes exchange was accounted for as an induced conversion resulting from the issuance of shares of Class A Common Stock and warrants to purchase Class A Common Stock in excess of the shares that would have been issuable under the terms of the original Convertible Notes agreement. In accounting for the induced conversion, we recorded debt conversion expense of $0.4 million , representing the difference between the fair value of the shares and warrants issued in connection with the Exchange Agreement and the fair value of the shares that would have been issuable under the original terms of the Convertible Notes. As a result of the transaction, we removed the Convertible Notes totaling $3.4 million and recorded $3.8 million , representing the amount of the Convertible Notes that were canceled and the fair value of the total equity consideration offered to exchange the notes, to additional paid-in capital and accrued expenses for Class A common stock and warrants that were issued and issuable, respectively, as of December 31, 2016. Second Secured Lien Notes On July 14, 2016, we entered into a Second Lien Loan Agreement (the “Loan Agreement”), under which we may borrow up to $15.0 million , subject to certain limitations imposed on us regarding the number of shares that we may issue in connection with the loans. During the nine months ended December 31, 2016 , we borrowed an aggregate principal amount of $5.5 million under the Loan Agreement (the "Second Secured Lien Notes"), including $4.0 million borrowed from Ronald L. Chez, the lead lender in the transaction and a member of our Board of Directors, $0.5 million borrowed from our Chairman of the Board of Directors and Chief Executive Officer and $1.0 million from other third-party lenders. The Second Secured Lien Notes mature on June 30, 2019 and bear interest at 12.75% , payable 7.5% in cash and 5.25% in cash or in kind at our option. In addition, under the terms of the Loan Agreement, we are required to issue 98,000 shares of our Class A common stock for every $1 million borrowed, subject to pro rata adjustments. The Loans may be prepaid without premium or penalty and contain customary covenants, representations and warranties. The obligations under the Loans are guaranteed by certain of our existing and future subsidiaries. We have pledged substantially all of our assets, except those assets related to our digital cinema deployment business, to secure payment on the Second Secured Lien Notes. The Loan Agreement was amended on August 4, 2016 and on October 7, 2016 to facilitate subsequent borrowing transactions and clarify certain terms of the shares issuable in connection with the loans. In connection with the Second Secured Lien Notes, we issued 597,100 shares of our Class A common stock and warrants to purchase 200,000 shares of our Class A common stock to Mr. Chez, 49,000 shares of Class A common stock to Mr. McGurk and 4,900 shares of Class A common stock to another member of our Board of Directors during the nine months ended December 31, 2016 . In addition, we issued 100,450 shares of our Class A common stock to third-party lenders in consideration for Second Secured Lien Notes. The warrants granted to Mr. Chez were issued in two equal tranches of 100,000 underlying shares that have underlying exercise prices of $1.34 and $1.68 , respectively. The warrants contain a cashless exercise provision, are immediately exercisable and have a term of seven years. The warrants also contain customary anti-dilution rights. The values of the shares and warrants issued were $1.1 million and $0.1 million , respectively. The Class A common stock and warrants were negotiated with the lender as part of a bundled financing arrangement and, as a result, we have recorded their respective relative fair values as a debt discount. The proceeds of the transactions with Mr. Chez were allocated to the debt and warrants based on their respective relative fair values, with the relative fair value of the warrants recorded as a discount to the proceeds from the loans. The discount attributed to the Second Secured Lien Notes is being amortized over the life of the notes using the effective interest method. The warrants issued in the transaction were valued using the Black-Scholes Option Pricing Model assuming a 7 -year life, a risk free rate interest of 1.2% and an expected volatility of 73.3% . Cinedigm Credit Agreement On October 17, 2013, we entered into a credit agreement (the “Cinedigm Credit Agreement”) with Société Générale. Under the Cinedigm Credit Agreement, as amended in February 2015 and April 2015, we were permitted to borrow an aggregate principal amount of up to $55.0 million , including term loans of $25.0 million (the “Cinedigm Term Loans”) and revolving loans of up to $30.0 million (the “Cinedigm Revolving Loans”). Interest under the Cinedigm Term Loans was charged at a base rate plus 5.0% , or the Eurodollar rate plus 6.0% until the Cinedigm Term Loan was repaid on April 29, 2015 in connection with the Convertible Notes offering. The Cinedigm Revolving Loans bear interest at a base rate of 6.25% or the Eurodollar rate of 1.0% plus 4.0% . The Base rate, per annum, is equal to the highest of (a) the rate quoted by the Wall Street Journal as the “base rate on corporate loans by at least 75% of the nation’s largest banks,” (b) 0.50% plus the federal funds rate, and (c) the Eurodollar rate plus 4.0% . We repaid the entire outstanding balance of the Cinedigm Term Loans and amended the terms of the Cinedigm Revolving Loans in connection with our issuance of the Convertible Notes. In connection with the repayment of the Cinedigm Term Loans, we wrote-off certain unamortized debt issuance costs and the discount that remained on the balance of the note payable. As a result, we recorded $0.9 million as a loss on extinguishment of debt for the nine months ended December 31, 2015 . The April 2015 amendment to the Cinedigm Revolving Loans extended the term of the agreement to March 31, 2018, provided for the release of the equity interests in the subsidiaries that we had previously pledged as collateral, changed the interest rate and replaced all financial covenants with a single debt service coverage ratio test commencing at June 30, 2016 and a $5.0 million minimum liquidity covenant. The Cinedigm Revolving Loans, as amended, bear interest at Base Rate (as defined in the amendment) plus 3% or LIBOR plus 4% , at our election, but in no event may the elected Base Rate or LIBOR rate be less than 1% . We are permitted to repay the Cinedigm Revolving Loans, at our option, in whole or in part. In May 2016, we entered into an agreement with Société Générale (as Administrative Agent), which amended certain terms of the Cinedigm Credit Agreement (the “May 2016 Amendment”) primarily to increase the Company’s cash available for operations . The May 2016 Amendment also reduced the maximum principal amount available under the Cinedigm Credit Agreement from $30.0 million to $22.0 million . In July 2016, we entered into an amendment to the Credit Agreement, which, among other things, lowered the minimum liquidity requirement to $0.8 million . In addition, certain of our subsidiaries that are guarantors to the Credit Agreement entered into a Guaranty Supplement, pursuant to which certain of the subsidiaries guaranteed the Company’s obligations under the Credit Agreement and the subsidiaries pledged substantially all of their assets to secure such obligations. In addition the July 2016 amendment changed, (i) Eurodollar rate loans to Base plus 4.5% and base plus 3.5% for Base rate loans and (ii) the requirement for the debt service reserve account was eliminated and the maximum principal amount available to borrow was reduced from $22.0 million to $19.8 million . As of December 31, 2016 , $0.2 million in additional borrowings were available under the Cinedigm Revolving Loans. In connection with the Cinedigm Revolving Loans, we maintained a debt service reserve account in restricted cash for certain scheduled interest and principal payments due on the Cinedigm Revolving Loans and Convertible notes as of March 31, 2016 of $2.2 million . As a result of the July 2016 amendment to the Credit Agreement, no such reserve amount was required to be maintained as of December 31, 2016 . 2013 Notes In October 2013, we entered into securities purchase agreements with certain investors, pursuant to which we sold notes in the aggregate principal amount of $5.0 million (the “2013 Notes”) and warrants to purchase an aggregate of 150,000 shares of Class A Common Stock (the “2013 Warrants”) to such investors. We allocated a fair value of $1.6 million to the 2013 Warrants, which was recorded as a discount to the 2013 Notes and is being amortized through the maturity of the 2013 Notes as interest expense. The principal amount outstanding under the 2013 Notes is due on October 21, 2018. The 2013 Notes bear interest at 9.0% per annum, payable in quarterly installments over the term of the 2013 Notes. The 2013 Notes may be redeemed at any time, subject to certain premiums. On February 13, 2017, we obtained a waiver on a covenant under the Cinedigm Credit Agreement and Second Secured Lien Notes for the quarter ended December 31, 2016. We paid debt issuance costs of $1.8 million during the nine months ended December 31, 2016 , primarily related to the issuance of the Second Secured Lien Notes.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	9 Months Ended
	Dec. 31, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ DEFICIT COMMON STOCK On September 27, 2016, at its Annual Meeting, the stockholders of the Company approved an amendment to the Company's Fourth Amended and Restated Certificate of Incorporation, which increased the number of authorized shares of Class A Common Stock to 25,000,000 shares. During the nine months ended December 31, 2016 , we issued 2,525,552 shares of Class A common stock in connection with debt financing, the exchange of Convertible Notes, payment for a CEO retention bonus, third-party advisory services, restricted stock awards to employees and payment of preferred stock dividends. On July 14, 2016, the Company entered into an amendment (the “Settlement Agreement Amendment”) to the Settlement Agreement (the “Settlement Agreement”) dated as of July 30, 2015 among the Company and Ronald L. Chez, the Chez Family Foundation, Sabra Investments, LP, Sabra Capital Partners, LLC, and Zvi Rhine (the “Group”) pursuant to which (i) the Company issued 155,000 shares of Common Stock to Mr. Chez as a fee for his service as Strategic Advisor in excess of what was contemplated by the Settlement Agreement, (ii) Mr. Chez’s role as Strategic Advisor to the Company was terminated, (iii) Mr. Chez was appointed to the Board of Directors and will be nominated and recommended for election to the Board of Directors for the period of time until Mr. Chez’s beneficial ownership of Cinedigm securities drops below 5% , and (iv) the rights of the Group to nominate designees for election to the Board of Directors were terminated. The value of these shares was $0.1 million , which has been recorded as stock-based compensation expense in our Condensed Consolidated Statement of Operations for the three months and nine months ended December 31, 2016 . As discussed in Note 6, we issued 597,100 shares of Class A common stock to Mr. Chez in connection with the Second Secured Lien Notes during the nine months ended December 31, 2016 . See Note 6 - Notes Payable. PREFERRED STOCK Cumulative dividends in arrears on preferred stock at December 31, 2016 were $0.2 million . In February 2017, we paid the preferred stock dividends in arrears in the form of 62,960 shares of Class A Common Stock. TREASURY STOCK In connection with the offering of Convertible Notes, on April 29, 2015, we repurchased 272,100 shares of our Class A common stock from certain purchasers of Convertible Notes in privately negotiated transactions for $2.7 million , which is reflected as treasury stock in our Condensed Consolidated Balance Sheet as of December 31, 2016 and March 31, 2016. In addition, we entered into a privately negotiated forward stock purchase transaction with a financial institution, which is one of the lenders under our credit agreement (the "Forward Counterparty"), pursuant to which we paid $11.4 million to purchase 1.2 million shares of our Class A common stock for settlement that may be settled at any time prior to the fifth year anniversary of the issuance date of the notes. The payment for the forward contract has been reflected as a reduction of Additional Paid-in Capital on our Condensed Consolidated Balance Sheet until such time that the forward contract is settled and the shares are legally delivered to and owned by us. Upon settlement of the forward contract and delivery of the stock, we will reclassify such amount to treasury stock. CINEDIGM’S EQUITY INCENTIVE PLAN Stock Based Compensation Awards Awards issued under our equity incentive plan (the "Plan") may be in any of the following forms (or a combination thereof) (i) stock option awards; (ii) stock appreciation rights; (iii) stock or restricted stock or restricted stock units; or (iv) performance awards. The Plan provides for the granting of incentive stock options (“ISOs”) with exercise prices not less than the fair market value of our Class A Common Stock on the date of grant. ISOs granted to shareholders having more than 10% of the total combined voting power of the Company must have exercise prices of at least 110% of the fair market value of our Class A Common Stock on the date of grant. ISOs and non-statutory stock options granted under the Plan are subject to vesting provisions, and exercise is subject to the continuous service of the participant. The exercise prices and vesting periods (if any) for non-statutory options are set at the discretion of our compensation committee. Upon a change of control of the Company, all stock options (incentive and non-statutory) that have not previously vested will vest immediately and become fully exercisable. In connection with the grants of stock options under the Plan, we and the participants have executed stock option agreements setting forth the terms of the grants. The Plan, which was amended at the Company's Annual Meeting on September 27, 2016, provides for the issuance of up to 2,380,000 shares of Class A Common Stock to employees, outside directors and consultants. Prior to the amendment at the Company's Annual Meeting, the plan allowed for the issuance of 1,430,000 shares. The following table summarizes the activity of the Plan related to shares issuable pursuant to outstanding options: Shares Under Option Weighted Average Exercise Price Per Share Balance at March 31, 2016 362,272 $ 16.50 Granted — — Exercised — — Canceled/forfeited (17,357 ) 22.36 Balance at December 31, 2016 344,915 $ 16.20 The weighted average remaining contractual life for stock options outstanding as of December 31, 2016 was 6.31 years. During the three and nine months ended December 31, 2016, we granted 1,055,465 shares of restricted Class A Common Stock to employees at a weighted average market price per share of $1.81 , all of which were unvested and outstanding as of December 31, 2016. The restricted stock awards vest in 33.3% increments over three years from their grant dates. OPTIONS GRANTED OUTSIDE CINEDIGM’S EQUITY INCENTIVE PLAN In October 2013, we issued options outside of the Plan to 10 individuals that became employees as a result of a business combination. The employees received options to purchase an aggregate of 62,000 shares of our Class A Common Stock at an exercise price of $17.5 per share. The options vest and become exercisable in 25% increments over four years from their grant dates and expire 10 years from the date of grant, if unexercised. As of December 31, 2016 , there were 11,625 unvested options outstanding. In December 2010, we issued options to purchase 450,000 shares of Class A Common Stock outside of the Plan as part of our Chief Executive Officer's initial employment agreement with the Company. Such options have exercise prices per share between $15.00 and $50.00 , all of which were vested as of December 2013 and will expire in December 2020. As of December 31, 2016 , all such options remained outstanding. WARRANTS The following table presents information about outstanding warrants to purchase shares of our Class A common stock as of December 31, 2016 . All of the outstanding warrants are fully vested and exercisable. Recipient Amount outstanding Expiration Exercise price per share Strategic management service provider 52,500 July 2021 $17.20 - $30.00 Warrants issued to creditors in connection with the 2013 Notes (the "2013 Warrants") 125,063 October 2018 $18.50 Warrants issued to Ronald L. Chez in connection with the Second Secured Lien Notes 200,000 July 2023 $1.34 - $1.68 Warrants issued in connection with Convertible Notes exchange transaction 200,000 December 2021 $1.60 Outstanding warrants held by the strategic management service provider were issued in connection with a consulting management services agreement ("MSA"). The warrants may be terminated with 90 days' notice in the event of termination of the MSA. The 2013 Warrants and related 2013 Notes are subject to certain transfer restrictions. The warrants issued in connection with the Second Secured Lien Notes (See Note 6) to Ronald L. Chez, a member of our Board of Directors, contain a cashless exercise provision and customary anti-dilution rights. The warrants were issued in two equal tranches of 100,000 underlying shares of Class A common stock, which have underlying exercise prices of $1.34 and $1.68 , respectively. Warrants to purchase Class A Common Stock issued in connection with the Convertible Notes exchange transaction were issued on December 22, 2016, become exercisable six months after issuance and contain customary anti-dilution provisions. The value of the warrants issued in connection with the Exchange Agreement was $0.2 million , determined by using the Black-Scholes Option Pricing Model, assuming a 5 -year life, a risk free rate interest of 2.0% and an expected volatility of 76.4% . In July 2016, we granted a three -year extension on the expiration date of warrants to purchase Class A Common Stock held by Sageview Capital, L.P. ("Sageview"), with all other terms of the warrant agreement unaffected. As a result of modifying the original terms of the warrants, we assigned a value to their extended terms using the Black-Scholes option pricing model and as a result, recorded selling, general and administrative expenses of $0.3 million in our Condensed Consolidated Statement of Operations in the second fiscal quarter of the year ending March 31, 2017. On December 23, 2016, the Company entered into an exchange agreement with Sageview, pursuant to which Sageview agreed to terminate all of its outstanding warrants to purchase 1,773,462 shares of Common Stock at an exercise price of $12.36 per share in exchange for a payment of five thousand dollars. The exchange was consummated on December 23, 2016 and as a result, such warrants are no longer outstanding as of the balance sheet date.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES LEASES Our capital lease obligations are primarily related to computer equipment. On October 28, 2016, we entered into an agreement to fully terminate our lease obligation on the Pavilion Theater, a facility that was accounted for as a capital lease and for which we were considered the primary obligor. Contemporaneously, we also terminated a sublease agreement that we had with the tenant of the Pavilion Theater. As a result of the lease termination, we wrote off the property and equipment and capital lease obligation related to the facility and recognized a gain on the transaction of $2.5 million , recorded as Gain on Termination of Capital Lease in our Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2016 . We also operate from leased properties under non-cancelable operating lease agreements, certain of which contain escalating lease clauses. In January 2017, we entered into an agreement to terminate the operating lease on our corporate office space in Century City, California and entered into a new operating lease for office space in Sherman Oaks, California. See Note 11 - Subsequent Events for the full details of the lease termination transaction.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURE	SUPPLEMENTAL CASH FLOW INFORMATION December 31, 2016 (in thousands) 2016 2015 Cash interest paid $ 12,193 $ 11,542 Accrued dividends on preferred stock 178 89 Issuance of Class A common stock for payment of preferred stock dividends 89 267 Issuance of Class A common stock and warrants to purchase Class A common stock in connection with Second Secured Lien Notes 1,163 — Issuance of Class A common stock and warrants to purchase Class A common stock in exchange for Convertible Notes 3,838 —

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We operate in four reportable segments: Phase I Deployment, Phase II Deployment, Services and Content & Entertainment or CEG. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our Chief Operating Decision Maker to evaluate performance, which is generally the segment’s income (loss) from continuing operations before interest, taxes, depreciation and amortization. Certain C orporate assets, liabilities and operating expenses are not allocated to our reportable segments. Operations of: Products and services provided: Phase I Deployment Financing vehicles and administrators for 3,724 Systems installed nationwide in Phase 1 DC's deployment to theatrical exhibitors. We retain ownership of the Systems and the residual cash flows related to the Systems after the repayment of all non-recourse debt at the expiration of exhibitor, master license agreements. As of December 31, 2016, we are no longer earning a significant portion of VPF revenues from certain major studios on 1,892 of such systems. Phase II Deployment Financing vehicles and administrators for our 8,904 Systems installed domestically and internationally, for which we retain no ownership of the residual cash flows and digital cinema equipment after the completion of cost recoupment and at the expiration of the exhibitor master license agreements. Services Provides monitoring, collection, verification and other management services to our Phase I Deployment, Phase II Deployment, CDF2 Holdings, as well as to exhibitors who purchase their own equipment. Services also collects and disburses VPFs from motion picture studios, distributors and ACFs from alternative content providers, movie exhibitors and theatrical exhibitors. Content & Entertainment Leading distributor of independent content, and collaborates with producers and other content owners to market, source, curate and distribute independent content to targeted and profitable audiences in theatres and homes, and via mobile and emerging platforms. The following tables present certain financial information related to our reportable segments and Corporate: As of December 31, 2016 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 172 $ — $ 21,759 $ 59,616 $ — $ — Phase II Deployment — — 51,151 12,293 — — Services — — 982 — — — Content & Entertainment 21,440 8,701 96,290 — — 13 Corporate 11 — 6,934 — 84,518 83 Total $ 21,623 $ 8,701 $ 177,116 $ 71,909 $ 84,518 $ 96 March 31, 2016 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 206 $ — $ 48,292 $ 93,372 $ — $ — Phase II Deployment — — 53,727 18,940 — — Services — — 1,064 — — — Content & Entertainment 25,721 8,701 87,344 — — 30 Corporate 13 — 18,971 — 86,938 4,195 Total $ 25,940 $ 8,701 $ 209,398 $ 112,312 $ 86,938 $ 4,225 Statements of Operations For the Three Months Ended December 31, 2016 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 7,266 $ 2,995 $ 2,625 $ 11,559 $ — $ 24,445 Direct operating (exclusive of depreciation and amortization shown below) 336 168 3 6,780 — 7,287 Selling, general and administrative 158 62 227 3,910 1,738 6,095 Allocation of Corporate overhead — — 399 906 (1,305 ) — Provision for doubtful accounts 318 98 — — — 416 Restructuring, transition and acquisition expenses, net — — — — 22 22 Depreciation and amortization of property and equipment 4,136 1,881 — 69 185 6,271 Amortization of intangible assets 11 — — 1,383 1 1,395 Total operating expenses 4,959 2,209 629 13,048 641 21,486 Income (loss) from operations $ 2,307 $ 786 $ 1,996 $ (1,489 ) $ (641 ) $ 2,959 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 3 $ — $ — $ 3 Selling, general and administrative — — 2 88 251 341 Total stock-based compensation $ — $ — $ 5 $ 88 $ 251 $ 344 Statements of Operations For the Three Months Ended December 31, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 9,993 $ 3,184 $ 3,096 $ 14,435 $ — $ 30,708 Direct operating (exclusive of depreciation and amortization shown below) 341 57 1 8,113 — 8,512 Selling, general and administrative 118 20 213 3,405 3,854 7,610 Allocation of Corporate overhead — — 405 1,357 (1,762 ) — Restructuring, transition and acquisition expenses, net — — — 102 474 576 Litigation recovery, net of expenses — — — (225 ) — (225 ) Depreciation and amortization of property and equipment 7,174 1,881 — 88 285 9,428 Amortization of intangible assets 12 — — 1,450 1 1,463 Total operating expenses 7,645 1,958 619 14,290 2,852 27,364 Income (loss) from operations $ 2,348 $ 1,226 $ 2,477 $ 145 $ (2,852 ) $ 3,344 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 1 $ 2 $ — $ 3 Selling, general and administrative — — — 66 281 347 Total stock-based compensation $ — $ — $ 1 $ 68 $ 281 $ 350 Statements of Operations For the Nine Months Ended December 31, 2016 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 26,022 $ 9,448 $ 9,042 $ 26,288 $ — $ 70,800 Direct operating (exclusive of depreciation and amortization shown below) 770 270 6 16,834 — 17,880 Selling, general and administrative 407 144 529 11,486 5,200 17,766 Allocation of Corporate overhead — — 1,194 2,706 (3,900 ) — Provision for doubtful accounts 318 98 — — — 416 Restructuring, transition and acquisition expenses, net — — — 87 45 132 Depreciation and amortization of property and equipment 16,156 5,642 — 204 556 22,558 Amortization of intangible assets 34 — — 4,282 6 4,322 Total operating expenses 17,685 6,154 1,729 35,599 1,907 63,074 Income (loss) from operations $ 8,337 $ 3,294 $ 7,313 $ (9,311 ) $ (1,907 ) $ 7,726 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 6 $ 2 $ — $ 8 Selling, general and administrative — — 3 181 1,172 1,356 Total stock-based compensation $ — $ — $ 9 $ 183 $ 1,172 $ 1,364 Statements of Operations For the Nine Months Ended December 31, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 27,856 $ 9,252 $ 8,898 $ 35,234 $ — $ 81,240 Direct operating (exclusive of depreciation and amortization shown below) 899 257 8 23,028 — 24,192 Selling, general and administrative 456 84 648 14,401 10,348 25,937 Allocation of Corporate overhead — — 1,212 4,058 (5,270 ) — Provision for doubtful accounts 241 98 — — — 339 Restructuring, transition and acquisition expenses, net — — — 102 670 772 Goodwill impairment — — — 18,000 — 18,000 Litigation recovery, net of expenses — — — (635 ) — (635 ) Depreciation and amortization of property and equipment 21,478 5,643 — 239 852 28,212 Amortization of intangible assets 31 — — 4,349 5 4,385 Total operating expenses 23,105 6,082 1,868 63,542 6,605 101,202 Income (loss) from operations $ 4,751 $ 3,170 $ 7,030 $ (28,308 ) $ (6,605 ) $ (19,962 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 9 $ 5 $ — $ 14 Selling, general and administrative — — 1 202 1,207 1,410 Total stock-based compensation $ — $ — $ 10 $ 207 $ 1,207 $ 1,424

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2016
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS In January 2017, we entered into an agreement to terminate the operating lease on our corporate office space in Century City, California and entered into a new operating lease for office space in Sherman Oaks, California. Cost savings from this relocation is expected to be more than $ 0.7 million on an annualized basis. In connection with the termination of the lease in Century City, we entered into a lease termination agreement with the landlord, whereby we agreed to pay $0.5 million (the "Lease Termination Fee") over a period of 5 years, at an interest rate of 5% per annum. The Lease Termination Fee will be recorded as a deferred cost and note payable on our Consolidated Balance Sheet in the fourth fiscal quarter of the year ended March 31, 2017, with the deferred cost amortized over the five-year term of the note payable using the effective interest method. The new lease commences on March 31, 2017 for a five -year term. On February 8, 2017, we entered into an exchange agreement pursuant to which we agreed to issue 450,000 shares of our Class A common stock and notes in the principal amount of $1.4 million pursuant to the Loan Agreement entered into in July 2016 in exchange for $4.0 million principal amount of 5.5% Convertible Notes with the holder of such Convertible Notes. The exchange was consummated on February 14, 2017 and the exchanged Convertible Notes were immediately canceled upon their surrender.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND CONSOLIDATION	BASIS OF PRESENTATION AND CONSOLIDATION The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company, its wholly owned and majority owned subsidiaries, and reflect all normal and recurring adjustments necessary for the fair presentation of its consolidated financial position, results of operations and cash flows. All material inter-company accounts and transactions have been eliminated in consolidation. Investments in which we do not have a controlling interest or are not the primary beneficiary but have the ability to exert significant influence, are accounted for under the equity method of accounting. Noncontrolling interests for which we have been determined to be the primary beneficiary are consolidated and recorded as net loss attributable to noncontrolling interest. See Note 4 - Other Interests to the Condensed Consolidated Financial Statements for a discussion of our noncontrolling and majority interests.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under GAAP, interim accounting for certain expenses, such as the adequacy of accounts receivable reserves, return reserves, inventory reserves, recovery of advances, minimum guarantees, assessment of goodwill and intangible asset impairment and valuation reserve for income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. The results of operations for the respective interim periods are not necessarily indicative of the results expected for the full year. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2016 .
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS We consider all highly liquid investments with an original maturity of three months or less to be "cash equivalents." We maintain bank accounts with major banks, which from time to time may exceed the Federal Deposit Insurance Corporation’s insured limits. We periodically assess the financial condition of the institutions and believe that the risk of any loss is minimal.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE We maintain reserves for potential credit losses on accounts receivable. We review the composition of accounts receivable and analyze historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Reserves are recorded primarily on a specific identification basis. Our Content & Entertainment segment recognizes accounts receivable, net of an estimated allowance for product returns and customer chargebacks, at the time that it recognizes revenue from a sale. We base the amount of the returns allowance and customer chargebacks upon historical experience and future expectations. We record accounts receivable, long-term in connection with activation fees that we earn from Systems deployments that have extended payment terms. Such accounts receivable are discounted to their present value at prevailing market rates.
ADVANCES	ADVANCES Advances, which are recorded within prepaid and other current assets within the consolidated balance sheets, represent amounts prepaid to studios or content producers for which we provide content distribution services. We evaluate advances regularly for recoverability and record charges for amounts that we expect may not be recoverable as of the consolidated balance sheet date.
INVENTORY	INVENTORY Inventory consists of finished goods inventory of Company owned DVD and Blu-ray Disc titles and is stated at the lower of cost (determined based on weighted average cost) or market. We identify inventory items to be written down for obsolescence based on their sales status and condition. We write down discontinued or slow moving inventories based on an estimate of the markdown to retail price needed to sell through our current stock level of the inventories.
RESTRICTED CASH	RESTRICTED CASH Our Prospect Loan requires that we maintain specified cash balances that are restricted to repayment of interest thereunder. See Note 6 - Notes Payable for information about our restricted cash balances.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the leasehold improvements. Repair and maintenance costs are charged to expense as incurred. Major renewals, improvements and additions are capitalized. Upon the sale or other disposition of any property and equipment, the cost and related accumulated depreciation and amortization are removed from the accounts and the gain or loss on disposal is included in the condensed consolidated statements of operations.
ACCOUNTING FOR DERIVATIVE ACTIVITIES	ACCOUNTING FOR DERIVATIVE ACTIVITIES Derivative financial instruments are recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized in accumulated other comprehensive loss (a component of stockholders' deficit) or in the consolidated statements of operations depending on whether the derivative qualifies for hedge accounting. We entered into an interest rate cap transaction during the fiscal year ended March 31, 2013 to limit our exposure to interest rates related to our 2013 Term Loans and Prospect Loan. The interest rate cap on the 2013 Term Loans matured in March 2016 and the interest rate cap on the Prospect Loan matures March of 2018. We have not sought hedge accounting treatment for these instruments and therefore, changes in the value of our Interest Rate Swaps and caps were recorded in the condensed consolidated statements of operations.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 – quoted prices in active markets for identical investments • Level 2 – other significant observable inputs (including quoted prices for similar investments and market corroborated inputs) • Level 3 – significant unobservable inputs (including our own assumptions in determining the fair value of investments) Assets and liabilities measured at fair value on a recurring basis use the market approach, where prices and other relevant information are generated by market transactions involving identical or comparable assets or liabilities. The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 1,000 $ — $ — $ 1,000 March 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 12 — 12 $ 8,983 $ 12 $ — $ 8,995 Our cash and cash equivalents, accounts receivable, unbilled revenue and accounts payable and accrued expenses are financial instruments and are recorded at cost in the Condensed Consolidated Balance Sheets. The estimated fair values of these financial instruments approximate their carrying amounts because of their short-term nature. The carrying amount of notes receivable approximates fair value based on the discounted cash flows of such instruments using current assumptions at the balance sheet date. At December 31, 2016 and March 31, 2016 , the estimated fair value of our fixed rate debt approximated its carrying amounts. We estimated the fair value of debt based upon current interest rates available to us at the respective balance sheet dates for arrangements with similar terms and conditions. Based on borrowing rates currently available to us for loans with similar terms, the carrying value of notes payable and capital lease obligations approximates fair value.
IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS We review the recoverability of our long-lived assets and finite-lived intangible assets, when events or conditions occur that indicate a possible impairment exists. The assessment for recoverability is based primarily on our ability to recover the carrying value of our long-lived and finite-lived assets from expected future undiscounted net cash flows. If the total of expected future undiscounted net cash flows is less than the total carrying value of the asset, the asset is deemed not to be recoverable and possibly impaired. We then estimate the fair value of the asset to determine whether an impairment loss should be recognized. An impairment loss will be recognized if the asset's fair value is determined to be less than its carrying value. Fair value is determined by computing the expected future discounted cash flows.
GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS	GOODWILL Goodwill is the excess of the purchase price paid over the fair value of the net assets of an acquired business. Goodwill is tested for impairment on an annual basis at the end of the fourth quarter of each fiscal year, or more often if warranted by events or changes in circumstances indicating that the carrying value of a reporting unit may exceed fair value, also known as impairment indicators. Our process of evaluating goodwill for impairment involves the determination of fair value of goodwill compared to its carrying value. Our only reporting unit with goodwill is our Content & Entertainment reporting unit. Inherent in the fair value determination for each reporting unit are certain judgments and estimates relating to future cash flows, including management’s interpretation of current economic indicators and market conditions, and assumptions about our strategic plans with regard to its operations. To the extent additional information arises, market conditions change or our strategies change, it is possible that the conclusion regarding whether our remaining goodwill is impaired could change and result in future goodwill impairment charges that will have a material effect on our consolidated financial position or results of operations.
PARTICIPATIONS AND ROYALTIES PAYABLE	PARTICIPATIONS AND ROYALTIES PAYABLE When we use third parties to distribute company owned content, we record participations payable, which represent amounts owed to the distributor under revenue-sharing arrangements. When we provide content distribution services, we record accounts payable and accrued expenses to studios or content producers for royalties owed under licensing arrangements. We identify and record as a reduction to the liability any expenses that are to be reimbursed to us by such studios or content producers.
DEBT ISSUANCE COSTS	DEBT ISSUANCE COSTS We incur debt issuance costs in connection with long-term debt financings. Such costs are recorded as a direct deduction to notes payable and amortized over the terms of the respective debt obligations using the effective interest rate method. Debt issuance costs recorded in connection with revolving debt arrangements are presented in other assets on the Consolidated Balance Sheets and are amortized over the term of the revolving debt agreements using the effective interest rate method.
REVENUE RECOGNITION	REVENUE RECOGNITION Phase I Deployment and Phase II Deployment Virtual print fees (“VPFs”) are earned, net of administrative fees, pursuant to contracts with movie studios and distributors, whereby amounts are payable by a studio to Phase 1 DC, CDF I and to Phase 2 DC when movies distributed by the studio are displayed on screens utilizing our Systems installed in movie theatres. VPFs are earned and payable to Phase 1 DC and CDF I based on a defined fee schedule with a reduced VPF rate year over year until the sixth year (calendar year 2011) at which point the VPF rate remains unchanged through the tenth year until the VPFs phase out. One VPF is payable for every digital title displayed per System. The amount of VPF revenue is dependent on the number of movie titles released and displayed using the Systems in any given accounting period. VPF revenue is recognized in the period in which the digital title first plays on a System for general audience viewing in a digitally equipped movie theatre, as Phase 1 DC’s, CDF I's and Phase 2 DC’s performance obligations have been substantially met at that time. Beginning in December 2015, certain Phase 1 DC Systems began to reach the conclusion of their deployment payment period with certain distributors and, therefore, VPF revenues ceased to be recognized on such Systems. Furthermore, because the Phase I deployment installation period ended in November 2007, a majority of the VPF revenue associated with the Phase I systems will end by November 2017 and, therefore, we expect VPF revenue to decrease materially compared to prior periods. As of December 31, 2016 , 1,892 of the systems in our Phase I Deployment segment had ceased to earn a significant portion VPF revenue from certain major studios, representing approximately 50% of the total Systems in our Phase I deployment and approximately 47% of active Phase I theatre locations. By December 2017, we expect that nearly all of our Phase I deployment systems will no longer earn VPF revenue from certain major studios. We expect to continue to earn ancillary revenue streams from the Phase I deployment Systems through December of 2020; however, such amounts are expected to be significantly less material to our consolidated financial statements. The expected reduction in VPF revenue on our Phase I systems is scheduled to approximately coincide with the conclusion of certain of our non-recourse debt obligations and, therefore, we expect that reduced cash outflows related to such non-recourse debt obligations will partially offset reduced VPF revenue after November 2017. Phase 2 DC’s agreements with distributors require the payment of VPFs, according to a defined fee schedule, for ten years from the date each system is installed; however, Phase 2 DC may no longer collect VPFs once “cost recoupment,” as defined in the contracts with movie studios and distributors, is achieved. Cost recoupment will occur once the cumulative VPFs and other cash receipts collected by Phase 2 DC have equaled the total of all cash outflows, including the purchase price of all Systems, all financing costs, all “overhead and ongoing costs”, as defined, and including service fees, subject to maximum agreed upon amounts during the three-year rollout period and thereafter. Further, if cost recoupment occurs before the end of the eighth contract year, the studios will pay us a one-time “cost recoupment bonus.” Any other cash flows, net of expenses, received by Phase 2 DC following the achievement of cost recoupment are required to be returned to the distributors on a pro-rata basis. At this time, we cannot estimate the timing or probability of the achievement of cost recoupment. Beginning in December 2018, certain Phase 2 DC Systems will have reached the conclusion of their deployment payment period, subject to earlier achievement of cost recoupment. In accordance with existing agreements with distributors, VPF revenues will cease to be recognized on such Systems. Because the Phase II deployment installation period ended in December 2012, a majority of the VPF revenue associated with the Phase II systems will end by December 2022 or earlier if cost recoupment is achieved. Alternative content fees (“ACFs”) are earned pursuant to contracts with movie exhibitors, whereby amounts are payable to Phase 1 DC, CDF I and to Phase 2 DC, generally either a fixed amount or as a percentage of the applicable box office revenue derived from the exhibitor’s showing of content other than feature movies, such as concerts and sporting events (typically referred to as “alternative content”). ACF revenue is recognized in the period in which the alternative content first opens for audience viewing. Revenues earned in connection with up front exhibitor contributions are deferred and recognized over the expected cost recoupment period. Services Exhibitors who purchased and own Systems using their own financing in the Phase II Deployment paid us an upfront activation fee of approximately $2.0 thousand per screen (the “Exhibitor-Buyer Structure”). Upfront activation fees were recognized in the period in which these Systems were delivered and ready for content, as we had no further obligations to the customer after that time and collection was reasonably assured. In addition, we recognize activation fee revenue of between $1.0 thousand and $2.0 thousand on Phase 2 DC Systems and for Systems installed by CDF2 Holdings, a related party, (See Note 3 - Other Interests ) upon installation and such fees are generally collected upfront upon installation. Our services segment manages and collects VPFs on behalf of exhibitors, for which it earns an administrative fee equal to 10% of the VPFs collected. Our Services segment earns an administrative fee of approximately 5% of VPFs collected and, in addition, earns an incentive service fee equal to 2.5% of the VPFs earned by Phase 1 DC. This administrative fee is recognized in the period in which the billing of VPFs occurs, as performance obligations have been substantially met at that time. Content & Entertainment CEG earns fees for the distribution of content in the home entertainment markets via several distribution channels, including digital, VOD, and physical goods (e.g. DVD and Blu-ray Discs). Fees earned are typically based on the gross amounts billed to our customers less the amounts owed to the media studios or content producers under distribution agreements, and gross media sales of owned or licensed content. Depending upon the nature of the agreements with the platform and content providers, the fee rate that we earn varies. Generally, revenues are recognized when content is available for subscription on the digital platform, at the time of shipment for physical goods, or point-of-sale for transactional and VOD services. Reserves for sales returns and other allowances are recorded based upon historical experience. If actual future returns and allowances differ from past experience, adjustments to our allowances may be required. Sales returns and allowances are reported as a reduction of revenues. CEG also has contracts for the theatrical distribution of third party feature movies and alternative content. CEG’s distribution fee revenue and CEG's participation in box office receipts is recognized at the time a feature movie and alternative content are viewed. CEG has the right to receive or bill a portion of the theatrical distribution fee in advance of the exhibition date, and therefore such amount is recorded as a receivable at the time of execution, and all related distribution revenue is deferred until the third party feature movies’ or alternative content’s theatrical release date. Revenue is deferred in cases where a portion or the entire contract amount cannot be recognized as revenue due to non-delivery of services. Such amounts are classified as deferred revenue and are recognized as earned revenue in accordance with our revenue recognition policies described above.
DIRECT OPERATING COSTS	DIRECT OPERATING COSTS Direct operating costs primarily consist of operating costs such as cost of goods sold, fulfillment expenses, property taxes and insurance on systems, shipping costs, royalty expenses, participation expenses, marketing and direct personnel costs.
STOCK-BASED COMPENSATION	The risk-free interest rate used in the Black-Scholes option pricing model for options granted under our stock option plan awards is the historical yield on U.S. Treasury securities with equivalent remaining lives. We do not currently anticipate paying any cash dividends on common stock in the foreseeable future. Consequently, an expected dividend yield of zero is used in the Black-Scholes option-pricing model. We estimate the expected life of options granted under our stock option plans using both exercise behavior and post-vesting termination behavior, as well as consideration of outstanding options. We estimate expected volatility for options granted under our stock option plans based on a measure of our Class A common stock's historical volatility in the trading market.
INCOME TAXES	INCOME TAXES Income taxes are provided for based on the asset and liability method of accounting. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
NET LOSS PER SHARE	NET LOSS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS Basic and diluted net loss per common share has been calculated as follows: Basic and diluted net loss per common share attributable to common stockholders = Net loss attributable to common stockholders Weighted average number of common stock outstanding during the period Stock issued and treasury stock repurchased during the period are weighted for the portion of the period that they are outstanding. The shares to be repurchased in connection with the forward stock purchase transaction discussed in Note 7 - Stockholders' Deficit are considered repurchased for the purposes of calculating earnings per share and therefore the calculation of weighted average shares outstanding for the three months and nine months ended December 31, 2016 and 2015, excludes 1.2 million shares that will be repurchased as a result of the forward stock purchase transaction.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). The FASB issued ASU 2016-15 to decrease the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this update provide guidance on eight specific cash flow issues. This guidance is effective for the Company as of the first quarter of its fiscal year ending March 31, 2019 and should be applied using the retrospective transition method to each period presented. Early adoption is permitted but all amendments must be adopted in the same period. The new guidance is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Restricted Cash, which clarifies guidance and presentation related to restricted cash in the statement of cash flows, including stating that restricted cash should be included within cash and cash equivalents on the statement of cash flows. The standard is effective for fiscal years beginning after December 15, 2017, with early adoption permitted, and is to be applied retrospectively. We are currently evaluating the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, the new guidance eliminates the need to determine the fair value of individual assets and liabilities of a reporting unit to measure a goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value. The revised guidance will be applied prospectively, and is effective for calendar year-end SEC filers in 2020. Early adoption is permitted for any impairment tests performed after April 1, 2017. The new guidance is not expected to have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued ASU 2017-03 which amended Accounting Changes and Error Corrections (Topic 250) to state that registrants should consider additional qualitative disclosures if the impact of an issued but not yet adopted ASU is unknown or cannot be reasonably estimated and to include a description of the effect of the accounting policies that the registrant expects to apply, if determined. Transition guidance included in certain issued but not yet adopted ASUs was also updated to reflect this amendment.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Estimated useful lives of Property and equipment	Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years
Fair Value Measurements of financial assets	The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 1,000 $ — $ — $ 1,000 March 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 12 — 12 $ 8,983 $ 12 $ — $ 8,995
Employee stock-based compensation expense related to stock-based awards	Employee and director stock-based compensation expense from continuing operations related to our stock-based awards was as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, (In thousands) 2016 2015 2016 2015 Direct operating $ 3 $ 3 $ 8 $ 14 Selling, general and administrative 341 347 1,356 1,410 $ 344 $ 350 $ 1,364 $ 1,424
Assumptions used in Black-Scholes option valuation model for estimating fair value of options	We used the following assumptions in our Black-Scholes option valuation model for the periods in which there were stock option grants: For the Three Months Ended December 31, For the Nine Months Ended December 31, Assumptions for Option Grants 2015 2015 Range of risk-free interest rates 1.4% - 1.7% 1.4% - 1.7% Dividend yield — — Expected life (years) 5 5 Range of expected volatilities 70.7% - 71.4% 70.6% - 71.4%

RESTRUCTURING, TRANSITION AND21

RESTRUCTURING, TRANSITION AND ACQUISITIONS EXPENSES (Tables)	9 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table presents a roll forward of restructuring, transition and acquisition expenses and related liability balances: (In thousands) Amount accrued as of March 31, 2016 $ 505 Costs incurred 132 Amounts paid (593 ) Amount accrued as of December 31, 2016 $ 44

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
	Dec. 31, 2016
Debt Instrument [Line Items]
Schedule of Notes Payable	Notes payable consisted of the following: December 31, 2016 March 31, 2016 (In thousands) Current Portion Long Term Portion Current Portion Long Term Portion 2013 Term Loans $ — $ — $ 21,188 $ 9,857 Prospect Loan — 62,442 — 66,543 KBC Facilities 7,225 4,556 7,646 10,998 P2 Vendor Note 205 220 161 310 P2 Exhibitor Notes 84 44 79 107 Total non-recourse notes payable 7,514 67,262 29,074 87,815 Less: Unamortized debt issuance costs and debt discounts — (2,867 ) — (4,577 ) Total non-recourse notes payable, net of unamortized debt issuance costs and debt discounts $ 7,514 $ 64,395 $ 29,074 $ 83,238 5.5% Convertible Notes Due 2035 $ — $ 60,571 $ — $ 64,000 Second Secured Lien Notes — 5,596 — — Cinedigm Revolving Loans — 19,599 — 21,927 2013 Notes — 5,000 — 5,000 Total recourse notes payable — 90,766 — 90,927 Less: Unamortized debt issuance costs and debt discounts — (6,248 ) — (3,989 ) Total recourse notes payable, net of unamortized debt issuance costs and debt discounts $ — $ 84,518 $ — $ 86,938 Total notes payable, net of unamortized debt issuance costs $ 7,514 $ 148,913 $ 29,074 $ 170,176
Schedule of Credit Facilities	The following table presents a summary of the KBC Facilities (dollar amounts in thousands): Outstanding Principal Balance Facility 1 Credit Facility Interest Rate 2 Maturity Date December 31, 2016 March 31, 2016 1 $ 22,336 3.75 % September 2018 $ 4,786 $ 7,180 2 13,312 3.75 % March 2018 1,481 4,034 3 11,425 3.75 % March 2019 3,672 4,896 4 6,450 3.75 % September 2018 1,842 2,534 $ 53,523 $ 11,781 $ 18,644 1. For each facility, principal is to be repaid in twenty-eight quarterly installments. 2. Each of the facilities bears interest at the three-month LIBOR rate, which was 1.00% at December 31, 2016 , plus the interest rate noted above.
Schedule of Assumptions for Fair Value of Warrant LIabilities	We allocated a fair value of $1.6 million to the 2013 Warrants
2013 Term Loans
Debt Instrument [Line Items]
Schedule of Debt Outstanding	The following table presents a summary of the 2013 Term Loans: (In thousands) December 31, 2016 March 31, 2016 2013 Term Loans, at issuance, net $ 125,087 $ 125,087 Payments to date (125,087 ) (94,043 ) Discount on 2013 Term Loans — (118 ) 2013 Term Loans, net — 30,926 Less current portion — (21,188 ) Total long term portion, net of discount $ — $ 9,738
Prospect Loan
Debt Instrument [Line Items]
Schedule of Debt Outstanding	The following table summarizes the activity related to the Prospect Loan: (In thousands) December 31, 2016 March 31, 2016 Prospect Loan, at issuance $ 70,000 $ 70,000 PIK Interest 4,778 4,778 Payments to date (12,336 ) (8,235 ) Prospect Loan, net 62,442 66,543 Less current portion — — Total long term portion $ 62,442 $ 66,543

STOCKHOLDERS' DEFICIT (Tables)

STOCKHOLDERS' DEFICIT (Tables)	9 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Outstanding Stock Options	The following table summarizes the activity of the Plan related to shares issuable pursuant to outstanding options: Shares Under Option Weighted Average Exercise Price Per Share Balance at March 31, 2016 362,272 $ 16.50 Granted — — Exercised — — Canceled/forfeited (17,357 ) 22.36 Balance at December 31, 2016 344,915 $ 16.20
Schedule of Warrants	The following table presents information about outstanding warrants to purchase shares of our Class A common stock as of December 31, 2016 . All of the outstanding warrants are fully vested and exercisable. Recipient Amount outstanding Expiration Exercise price per share Strategic management service provider 52,500 July 2021 $17.20 - $30.00 Warrants issued to creditors in connection with the 2013 Notes (the "2013 Warrants") 125,063 October 2018 $18.50 Warrants issued to Ronald L. Chez in connection with the Second Secured Lien Notes 200,000 July 2023 $1.34 - $1.68 Warrants issued in connection with Convertible Notes exchange transaction 200,000 December 2021 $1.60

SUPPLEMENTAL CASH FLOW INFORM24

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flows	December 31, 2016 (in thousands) 2016 2015 Cash interest paid $ 12,193 $ 11,542 Accrued dividends on preferred stock 178 89 Issuance of Class A common stock for payment of preferred stock dividends 89 267 Issuance of Class A common stock and warrants to purchase Class A common stock in connection with Second Secured Lien Notes 1,163 — Issuance of Class A common stock and warrants to purchase Class A common stock in exchange for Convertible Notes 3,838 —

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting, Assets and Debt	The following tables present certain financial information related to our reportable segments and Corporate: As of December 31, 2016 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 172 $ — $ 21,759 $ 59,616 $ — $ — Phase II Deployment — — 51,151 12,293 — — Services — — 982 — — — Content & Entertainment 21,440 8,701 96,290 — — 13 Corporate 11 — 6,934 — 84,518 83 Total $ 21,623 $ 8,701 $ 177,116 $ 71,909 $ 84,518 $ 96 March 31, 2016 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 206 $ — $ 48,292 $ 93,372 $ — $ — Phase II Deployment — — 53,727 18,940 — — Services — — 1,064 — — — Content & Entertainment 25,721 8,701 87,344 — — 30 Corporate 13 — 18,971 — 86,938 4,195 Total $ 25,940 $ 8,701 $ 209,398 $ 112,312 $ 86,938 $ 4,225
Schedule of Segment Reporting, Statement of Operations	Statements of Operations For the Three Months Ended December 31, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 9,993 $ 3,184 $ 3,096 $ 14,435 $ — $ 30,708 Direct operating (exclusive of depreciation and amortization shown below) 341 57 1 8,113 — 8,512 Selling, general and administrative 118 20 213 3,405 3,854 7,610 Allocation of Corporate overhead — — 405 1,357 (1,762 ) — Restructuring, transition and acquisition expenses, net — — — 102 474 576 Litigation recovery, net of expenses — — — (225 ) — (225 ) Depreciation and amortization of property and equipment 7,174 1,881 — 88 285 9,428 Amortization of intangible assets 12 — — 1,450 1 1,463 Total operating expenses 7,645 1,958 619 14,290 2,852 27,364 Income (loss) from operations $ 2,348 $ 1,226 $ 2,477 $ 145 $ (2,852 ) $ 3,344 Statements of Operations For the Three Months Ended December 31, 2016 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 7,266 $ 2,995 $ 2,625 $ 11,559 $ — $ 24,445 Direct operating (exclusive of depreciation and amortization shown below) 336 168 3 6,780 — 7,287 Selling, general and administrative 158 62 227 3,910 1,738 6,095 Allocation of Corporate overhead — — 399 906 (1,305 ) — Provision for doubtful accounts 318 98 — — — 416 Restructuring, transition and acquisition expenses, net — — — — 22 22 Depreciation and amortization of property and equipment 4,136 1,881 — 69 185 6,271 Amortization of intangible assets 11 — — 1,383 1 1,395 Total operating expenses 4,959 2,209 629 13,048 641 21,486 Income (loss) from operations $ 2,307 $ 786 $ 1,996 $ (1,489 ) $ (641 ) $ 2,959
Schedule of Segement Reporting, Employee Stock-based Compensation Expense	The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 3 $ — $ — $ 3 Selling, general and administrative — — 2 88 251 341 Total stock-based compensation $ — $ — $ 5 $ 88 $ 251 $ 344 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 1 $ 2 $ — $ 3 Selling, general and administrative — — — 66 281 347 Total stock-based compensation $ — $ — $ 1 $ 68 $ 281 $ 350

NATURE OF OPERATIONS - NARRATIV

NATURE OF OPERATIONS - NARRATIVE (Details) $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2016	Dec. 31, 2016USD ($)theatre	Dec. 31, 2015USD ($)	Jul. 14, 2016USD ($)	Mar. 31, 2016USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of movie theatres (more than) | theatre		12,000
Accumulated deficit		$ (348,200)			$ (342,448)
Cash and cash equivalents		17,800
Change in restricted cash balances		7,983	$ (2,233)
Phase I Deployment, Phase II Development, and Services Segment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Notes payable, net		74,800
Content and Entertainment and Corporate Segments [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Notes payable, net		90,800
Secured Debt | Second Secured Lien Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt face amount		$ 5,500		$ 15,000
Class A common stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock split, conversion ratio	0.1

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - NARRATIVE (Details)	Apr. 29, 2015shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2016USD ($)systemshares	Dec. 31, 2015USD ($)$ / sharesshares	Mar. 31, 2015USD ($)
Deferred Revenue Arrangement [Line Items]
Net cash used in by investing activities				$ (380,000)	$ (1,416,000)
Net cash used in financing activities				(32,882,000)	(6,424,000)
Goodwill impairment		$ 0	$ 0	$ 0	$ (18,000,000)
Number of systems that have ceased to earn VPF | system				1,892
Percent of systems expected to cease earning VPF				50.00%
Percent of active systems expected to cease earning VPF				47.00%
Activation fee revenue, per screen				$ 2,000
Activation fee revenue range, minimum		1,000		1,000
Activation fee revenue range, maximum		$ 2,000		$ 2,000
Options grants in period, weighted average grant date fair value (in dollars per share) | $ / shares			$ 3.48		$ 4.67
Shares under option, granted (shares) | shares		0	5,500	0	18,500
Shares under option, exercised (shares) | shares			2,500		2,500
Antidilutive securities excluded from computation of earnings per share (shares) | shares				1,420,227	2,729,712
Convertible Debt | Convertible Notes
Deferred Revenue Arrangement [Line Items]
Treasury stock, shares acquired (shares) | shares	272,100
Convertible Debt | Convertible Notes | Forward Stock Purchase Transaction
Deferred Revenue Arrangement [Line Items]
Treasury stock, shares acquired (shares) | shares		1,200,000	1,200,000	1,200,000	1,200,000
Services
Deferred Revenue Arrangement [Line Items]
Goodwill impairment					$ 0
Administrative fee VPFs		5.00%		5.00%
Incentive fees, percentage of VPF Phase I		2.50%		2.50%
Up-front Payment Arrangement
Deferred Revenue Arrangement [Line Items]
Administrative fee VPFs		10.00%		10.00%
Restatement Adjustment [Member]
Deferred Revenue Arrangement [Line Items]
Net cash used in by investing activities					$ (1,100,000)
Net cash used in financing activities						$ 1,100,000

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PROPERTY AND EQUIPMENT (Details)	9 Months Ended
	Dec. 31, 2016
Computer equipment and software | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Computer equipment and software | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Digital cinema projection systems
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	10 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	10 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	6 years

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Levels of fair value measurements of financial assets:
Restricted cash	$ 1,000	$ 8,983
Recurring
Levels of fair value measurements of financial assets:
Restricted cash	1,000	8,983
Interest rate derivatives		12
Financial assets		8,995
Recurring | Fair Value, Inputs, Level 1
Levels of fair value measurements of financial assets:
Restricted cash	1,000	8,983
Interest rate derivatives		0
Financial assets		8,983
Recurring | Fair Value, Inputs, Level 2
Levels of fair value measurements of financial assets:
Restricted cash	0	0
Interest rate derivatives		12
Financial assets		12
Recurring | Fair Value, Inputs, Level 3
Levels of fair value measurements of financial assets:
Restricted cash	$ 0	0
Interest rate derivatives		0
Financial assets		$ 0

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - EMPLOYEE STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 344	$ 350	$ 1,364	$ 1,424
Direct operating
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	3	3	8	14
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 341	$ 347	$ 1,356	$ 1,410

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - FAIR VALUE ASSUMPTIONS USED FOR STOCK OPTIONS (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015
Assumptions for Option Grants:
Dividend yield	0.00%	0.00%
Expected life (years)	5 years	5 years
Range of expected volatilities, minimum	70.70%	70.60%
Range of expected volatilities, maximum	71.40%	71.40%
Minimum
Assumptions for Option Grants:
Range of risk free rates	1.40%	1.40%
Maximum
Assumptions for Option Grants:
Range of risk free rates	1.70%	1.70%

Other Interests (Details)

Other Interests (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016	Jul. 01, 2015	Jun. 30, 2015
Noncontrolling Interest [Line Items]
Accounts receivable service equity investment	$ 400,000		$ 400,000		$ 400,000
Management fees revenue	300,000	$ 300,000	900,000	$ 900,000
Deficit attributable to noncontrolling interest	(1,200,000)		$ (1,200,000)		(1,185,000)
Holdings
Noncontrolling Interest [Line Items]
Ownership percentage			100.00%
Equity method investment aggregate cost	2,000,000		$ 2,000,000
Holdings | Variable Interest Entity, Not Primary Beneficiary
Noncontrolling Interest [Line Items]
Equity method investment equity	17,600,000		17,600,000		11,900,000
Equity method investment	0		0		$ 0
CONtv
Noncontrolling Interest [Line Items]
Ownership percentage						85.00%	47.50%
Investments in subsidiary	$ 8,000		$ 46,000

RESTRUCTURING, TRANSITION AND33

RESTRUCTURING, TRANSITION AND ACQUISITIONS EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Restructuring Reserve [Roll Forward]
Total Cost	$ 22	$ 576	$ 132	$ 772
Content & Entertainment | Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring, beginning balance			505
Amounts Paid/Adjusted			(593)
Restructuring, ending balance	$ 44		$ 44

NOTES PAYABLE - SCHEDULE OF NO

NOTES PAYABLE - SCHEDULE OF NOTES PAYABLE OUTSTANDING (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016	Feb. 28, 2013
Notes Payable:
Current portion	$ 7,514	$ 29,074
Long Term Portion	148,913	170,176
2013 Term Loans
Notes Payable:
Current portion	0	21,188
Long Term Portion	0	9,738
Prospect Loan
Notes Payable:
Debt interest rate, stated rate			2.50%
Current portion	0	0
Long Term Portion	62,442	66,543
Non-recourse Notes Payable
Notes Payable:
Current portion gross	7,514	29,074
Unamortized debt issuance cost, current	0	0
Current portion	7,514	29,074
Long term portion gross	67,262	87,815
Unamortized debt issuance long term	(2,867)	(4,577)
Long Term Portion	64,395	83,238
Non-recourse Notes Payable | 2013 Term Loans
Notes Payable:
Current portion gross	0	21,188
Long term portion gross	0	9,857
Non-recourse Notes Payable | Prospect Loan
Notes Payable:
Current portion gross	0	0
Long term portion gross	62,442	66,543
Non-recourse Notes Payable | KBC Facilities
Notes Payable:
Current portion gross	7,225	7,646
Long term portion gross	4,556	10,998
Non-recourse Notes Payable | P2 Vendor Note
Notes Payable:
Current portion gross	205	161
Long term portion gross	220	310
Non-recourse Notes Payable | P2 Exhibitor Notes
Notes Payable:
Current portion gross	84	79
Long term portion gross	44	107
Recourse Notes Payable
Notes Payable:
Current portion gross	0	0
Unamortized debt issuance cost, current	0	0
Current portion	0	0
Long term portion gross	90,766	90,927
Unamortized debt issuance long term	(6,248)	(3,989)
Long Term Portion	$ 84,518	$ 86,938
Recourse Notes Payable | 5.5% Convertible Notes Due 2035
Notes Payable:
Debt interest rate, stated rate	5.50%	5.50%
Current portion gross	$ 0	$ 0
Long term portion gross	60,571	64,000
Recourse Notes Payable | Cinedigm Revolving Loans
Notes Payable:
Current portion gross	0	0
Long term portion gross	19,599	21,927
Recourse Notes Payable | 2013 Notes
Notes Payable:
Current portion gross	0	0
Long term portion gross	5,000	5,000
Secured Debt | Second Secured Lien Notes
Notes Payable:
Current portion gross	0	0
Long term portion gross	$ 5,596	$ 0

NOTES PAYABLE - NARRATIVE (Det

NOTES PAYABLE - NARRATIVE (Details)	Dec. 22, 2016USD ($)$ / sharesshares	Apr. 29, 2015USD ($)$ / sharesshares	Oct. 17, 2013USD ($)	Feb. 28, 2013USD ($)	Jul. 31, 2016USD ($)	Apr. 30, 2015USD ($)	Oct. 31, 2013USD ($)shares	Dec. 31, 2016USD ($)installments$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2016USD ($)trancheinstallments$ / sharesshares	Dec. 31, 2015USD ($)shares	Jul. 14, 2016USD ($)shares	Jun. 30, 2016USD ($)	May 31, 2016USD ($)	Mar. 31, 2016USD ($)$ / shares
Line of Credit Facility [Line Items]
Basis spread on variable rate			4.00%
Gains (loss) on extinguishment of debt								$ 690,000	$ 0	$ 690,000	$ 931,000
Restricted cash								1,000,000		1,000,000					$ 8,983,000
Payments of debt issuance costs										1,792,000	3,655,000
Long Term Portion								148,913,000		148,913,000					$ 170,176,000
Debt conversion expense								409,000	0	409,000	0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity								$ 53,523,000		$ 53,523,000
Number of quarterly payments | installments								28		28
Second Secured Lien Notes
Line of Credit Facility [Line Items]
Outstanding warrants | shares								200,000		200,000
Class A common stock
Line of Credit Facility [Line Items]
Common stock, par value (in dollars per share) | $ / shares								$ 0.001		$ 0.001					$ 0.001
Recourse Notes Payable
Line of Credit Facility [Line Items]
Long term portion gross								$ 90,766,000		$ 90,766,000					$ 90,927,000
Long Term Portion								84,518,000		84,518,000					86,938,000
Prospect Loan
Line of Credit Facility [Line Items]
Restricted cash debt servicing								4,700,000		4,700,000					8,700,000
Restricted cash								1,000,000	1,000,000	$ 1,000,000	1,000,000
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate										1.00%
Prospect Loan
Line of Credit Facility [Line Items]
Debt face amount				$ 70,000,000				70,000,000		$ 70,000,000					70,000,000
Basis spread on variable rate				9.00%
Debt interest rate, stated rate				2.50%
Guarantor maximum exposure annual limit										1,500,000
Long Term Portion								62,442,000		62,442,000					66,543,000
Prospect Loan | Debt Instrument, Prepayment Period - Between Second And Third Anniversary
Line of Credit Facility [Line Items]
Prepayment premium				5.00%
Prospect Loan | Debt Instrument, Prepayment Period - Between Third and Fourth Anniversary
Line of Credit Facility [Line Items]
Prepayment premium				4.00%
Prospect Loan | Debt Instrument, Prepayment Period - Between Fourth and Fifth Anniversary
Line of Credit Facility [Line Items]
Prepayment premium				3.00%
Prospect Loan | Debt Instrument, Prepayment Period - Between Fifth and Sixth Anniversary
Line of Credit Facility [Line Items]
Prepayment premium				2.00%
Prospect Loan | Debt Instrument, Prepayment Period - Between Sixth and Seventh Anniversary
Line of Credit Facility [Line Items]
Prepayment premium				1.00%
Prospect Loan | LIBOR
Line of Credit Facility [Line Items]
Debt variable rate basis floor				2.00%
Convertible Notes | Class A common stock
Line of Credit Facility [Line Items]
Issue of warrants										3,838,000	0
Convertible Notes | Convertible Debt
Line of Credit Facility [Line Items]
Debt face amount		$ 64,000,000
Debt interest rate, stated rate		5.50%
Debt conversion ratio		$ 1,000
Debt conversion ratio		82.45723
Debt conversion price (in dollars per share) | $ / shares		$ 12.13
Debt repurchase price percentage		100.00%
Debt redemption price percentage		100.00%
Proceeds from issuance of unsecured debt		$ 60,900,000
Treasury stock, shares acquired (shares) | shares		272,100
Treasury stock acquired		$ 2,700,000
Interest expense								$ 900,000	$ 900,000	$ 2,600,000	$ 1,500,000
Convertible Notes | Convertible Debt | Forward Stock Purchase Transaction
Line of Credit Facility [Line Items]
Treasury stock, shares acquired (shares) | shares								1,200,000	1,200,000	1,200,000	1,200,000
Treasury stock acquired		11,400,000
Exchange Agreement [Member] | Convertible Debt
Line of Credit Facility [Line Items]
Debt repurchased face amount	$ 3,400,000
Converted instrument, warrants or options issued (in shares) | shares	200,000
Vesting period (in months)	6 months
Contractual term (in years)	5 years
Warrant exercise price (in dollars per share) | $ / shares	$ 1.60
Exchange Agreement [Member] | Convertible Debt | Class A common stock
Line of Credit Facility [Line Items]
Converted instrument, shares issued (in shares) | shares	450,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
2013 Term Loans
Line of Credit Facility [Line Items]
Debt face amount				$ 130,000,000				$ 125,087,000		$ 125,087,000					125,087,000
Debt decrease assigned				$ 5,000,000
Long Term Portion								0		0					9,738,000
Discount on debt instrument								0		0					118,000
2013 Term Loans | LIBOR
Line of Credit Facility [Line Items]
Debt variable rate basis floor				1.00%
Basis spread on variable rate				2.75%
2013 Term Loans | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.75%
Cinedigm Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 55,000,000
Cinedigm Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Repayments of debt		18,600,000
Debt repurchased face amount		$ 18,200,000
Cinedigm Credit Agreement | Eurodollar
Line of Credit Facility [Line Items]
Basis spread on variable rate			4.00%
Cinedigm Credit Agreement | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.50%
Variable rate basis percentage of nation's largest banks			75.00%
Cinedigm Revolving Loans | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 30,000,000
Cinedigm Revolving Loans | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity															2,200,000
Line of credit minimum liquidity						$ 5,000,000
Cinedigm Revolving Loans | Recourse Notes Payable
Line of Credit Facility [Line Items]
Long term portion gross								19,599,000		19,599,000					21,927,000
Cinedigm Revolving Loans | LIBOR | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt variable rate basis floor						1.00%
Cinedigm Revolving Loans | Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						3.00%
Debt variable rate basis			6.25%
Basis spread on variable rate minimum						1.00%
Cinedigm Revolving Loans | Eurodollar | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						4.00%
Debt variable rate basis			1.00%
Cinedigm Revolving Loans, May 2016 Amendment | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity														$ 22,000,000
Credit Agreement Amendment Number 4 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 19,800,000								$ 22,000,000
Remaining borrowing capacity								200,000		200,000
Line of credit minimum liquidity					$ 800,000
Credit Agreement Amendment Number 4 | Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate					3.50%
Credit Agreement Amendment Number 4 | Eurodollar | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate					4.50%
Cinedigm Term Loans | Term Loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 25,000,000
Cinedigm Term Loans | Base Rate | Term Loans
Line of Credit Facility [Line Items]
Basis spread on variable rate			5.00%
Cinedigm Term Loans | Eurodollar | Term Loans
Line of Credit Facility [Line Items]
Basis spread on variable rate			6.00%
2013 Notes | Senior Notes
Line of Credit Facility [Line Items]
Debt interest rate, stated rate							9.00%
Debt conversion original debt amount							$ 5,000,000
Discount on debt instrument							$ 1,600,000
Number of securities called by warrants (in shares) | shares							150,000
2013 Notes | Recourse Notes Payable
Line of Credit Facility [Line Items]
Long term portion gross								$ 5,000,000		$ 5,000,000					5,000,000
Second Secured Lien Notes | Class A common stock
Line of Credit Facility [Line Items]
Number of tranches | tranche										2
Number of securities called by warrants (in shares) | shares								100,000		100,000
Stock issued during period, value, new issues										$ 1,100,000
Issue of warrants										$ 107,000
Second Secured Lien Notes | Class A common stock | Tranche One
Line of Credit Facility [Line Items]
Warrant exercise price (in dollars per share) | $ / shares								$ 1.34		$ 1.34
Second Secured Lien Notes | Class A common stock | Tranche Two
Line of Credit Facility [Line Items]
Warrant exercise price (in dollars per share) | $ / shares								$ 1.68		$ 1.68
Second Secured Lien Notes | Class A common stock | Ronald L. Chez
Line of Credit Facility [Line Items]
Stock issued during period, shares, new issues (in shares) | shares										597,100
Second Secured Lien Notes | Class A common stock | Mr. McGurk
Line of Credit Facility [Line Items]
Stock issued during period, shares, new issues (in shares) | shares								49,000
Second Secured Lien Notes | Class A common stock | Board of the Director Member
Line of Credit Facility [Line Items]
Stock issued during period, shares, new issues (in shares) | shares								4,900
Second Secured Lien Notes | Class A common stock | Third-Party Lenders
Line of Credit Facility [Line Items]
Stock issued during period, shares, new issues (in shares) | shares								100,450
Second Secured Lien Notes | Secured Debt
Line of Credit Facility [Line Items]
Debt face amount								$ 5,500,000		$ 5,500,000		$ 15,000,000
Long term portion gross								5,596,000		5,596,000					$ 0
Second Secured Lien Notes | Secured Debt | Ronald L. Chez
Line of Credit Facility [Line Items]
Debt face amount								4,000,000		4,000,000
Second Secured Lien Notes | Secured Debt | Chairman of the Board of Directors and Chief Executive Officer
Line of Credit Facility [Line Items]
Debt face amount								500,000		500,000
Second Secured Lien Notes | Secured Debt | Other Lenders
Line of Credit Facility [Line Items]
Debt face amount								$ 1,000,000		$ 1,000,000
Second Secured Lien Notes | Secured Debt | Class A common stock
Line of Credit Facility [Line Items]
Number of shares to be issued for every $1 million borrowed (in shares) | shares												98,000
12.75% Loans Due 2019
Line of Credit Facility [Line Items]
Debt interest rate, stated rate												12.75%
12.75% Loans Due 2019 | Secured Debt
Line of Credit Facility [Line Items]
Debt interest rate, stated rate												7.50%
12.75% Loans Due 2019 | Payment in Kind (PIK) Note
Line of Credit Facility [Line Items]
Debt interest rate, stated rate												5.25%
Warrant [Member]
Line of Credit Facility [Line Items]
Expected term (in years)										7 years
Risk free interest rate										1.20%
Expected volatility rate										73.30%

NOTES PAYABLE - NET OF ORIGINA

NOTES PAYABLE - NET OF ORIGINAL ISSUE DISCOUNT (Details) - USD ($)	Dec. 31, 2016	Mar. 31, 2016	Feb. 28, 2013
Debt Instrument [Line Items]
Less current portion	$ (7,514,000)	$ (29,074,000)
Long Term Portion	148,913,000	170,176,000
2013 Term Loans, net of discount
Debt Instrument [Line Items]
Debt amount, at issuance	125,087,000	125,087,000	$ 130,000,000
Payments to date	(125,087,000)	(94,043,000)
Discount on debt instrument	0	(118,000)
Notes payable, net	0	30,926,000
Less current portion	0	(21,188,000)
Long Term Portion	0	9,738,000
Prospect Loan
Debt Instrument [Line Items]
Debt amount, at issuance	70,000,000	70,000,000	$ 70,000,000
PIK Interest	4,778,000	4,778,000
Payments to date	(12,336,000)	(8,235,000)
Notes payable, net	62,442,000	66,543,000
Less current portion	0	0
Long Term Portion	$ 62,442,000	$ 66,543,000

NOTES PAYABLE - SUMMARY OF CRE

NOTES PAYABLE - SUMMARY OF CREDIT FACILITIES (Details) $ in Thousands	Oct. 17, 2013	Dec. 31, 2016USD ($)installments	Mar. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Interest Rate	4.00%
LIBOR
Line of Credit Facility [Line Items]
Interest Rate		1.00%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Facility		$ 53,523
Outstanding Principal Balance		$ 11,781	$ 18,644
Number of quarterly payments | installments		28
Credit Facility 1 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Facility		$ 22,336
Interest Rate		3.75%
Outstanding Principal Balance		$ 4,786	7,180
Credit Facility 2 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Facility		$ 13,312
Interest Rate		3.75%
Outstanding Principal Balance		$ 1,481	4,034
Credit Facility 3 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Facility		$ 11,425
Interest Rate		3.75%
Outstanding Principal Balance		$ 3,672	4,896
Credit Facility 4 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Facility		$ 6,450
Interest Rate		3.75%
Outstanding Principal Balance		$ 1,842	$ 2,534

STOCKHOLDERS' DEFICIT - COMMON

STOCKHOLDERS' DEFICIT - COMMON STOCK (Details) - USD ($) $ in Millions	Jul. 14, 2016	Dec. 31, 2016	Sep. 27, 2016	Mar. 31, 2016
Class of Stock [Line Items]
Ownership threshold to be recommended for election to the board of directors	5.00%
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (shares)		25,000,000	25,000,000	21,000,000
Shares issued as payment for services rendered		2,525,552
Ronald L. Chez | Common Stock
Class of Stock [Line Items]
Shares issued for services (in shares)	155,000
Stock-Based Compensation Expense | Ronald L. Chez | Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Value, Issued for Services	$ 0.1
Second Secured Lien Notes | Ronald L. Chez | Class A common stock
Class of Stock [Line Items]
Stock issued during period, shares, new issues (in shares)		597,100

STOCKHOLDERS' DEFICIT - PREFER

STOCKHOLDERS' DEFICIT - PREFERRED STOCK (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Feb. 14, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Dividends preferred stock		$ 0.2
Subsequent Event | Class A common stock
Class of Stock [Line Items]
Preferred stock dividends (shares)	62,960

STOCKHOLDERS' DEFICIT - TREASU

STOCKHOLDERS' DEFICIT - TREASURY STOCK (Details) - Convertible Debt - Convertible Notes - USD ($) $ in Millions	Apr. 29, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Treasury stock, shares acquired (shares)	272,100
Treasury stock acquired	$ 2.7
Forward Stock Purchase Transaction
Class of Stock [Line Items]
Treasury stock, shares acquired (shares)		1,200,000	1,200,000	1,200,000	1,200,000
Treasury stock acquired	$ 11.4

STOCKHOLDERS' DEFICIT - CINEDI

STOCKHOLDERS' DEFICIT - CINEDIGM'S EQUITY INCENTIVE PLAN (Details) - $ / shares	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Sep. 27, 2016	Sep. 26, 2016
Shares Under Option
Shares under option, granted (shares)	0	5,500	0	18,500
Shares under option, exercised (shares)		(2,500)		(2,500)
Cinedigm Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent voting power threshold			10.00%
Exercise price if voting threshold is met, percent			110.00%
Shares Under Option
Shares under option, beginning of period (shares)			362,272
Shares under option, granted (shares)			0
Shares under option, exercised (shares)			0
Shares under option, canceled (shares)			(17,357)
Shares under option, end of period (shares)	344,915		344,915
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning of period (in dollars per share)			$ 16.50
Weighted average exercise price per share, granted (in dollars per share)			0
Weighted average exercise price per share, exercised (in dollars per share)			0
Weighted average exercise price per share, canceled (in dollars per share)			22.36
Weighted average exercise price per share, end of period (in dollars per share)	$ 16.20		$ 16.20
Options outstanding, weighted average remaining contractual term			6 years 3 months 22 days
Cinedigm Equity Incentive Plan | Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)					2,380,000	1,430,000
Restricted Stock [Member]
Weighted Average Exercise Price Per Share
Award vesting rights percentage			33.30%
Award vesting period			3 years
Stock issued during period, shares, new issues (in shares)	1,055,465		1,055,465,000
Share price (in dollars per share)	$ 1.81		$ 1.81

STOCKHOLDERS' DEFICIT - OPTION

STOCKHOLDERS' DEFICIT - OPTIONS GRANTED OUTSIDE CINEDIGM'S EQUITY INCENTIVE PLAN (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2013employee$ / sharesshares	Dec. 31, 2010$ / sharesshares	Dec. 31, 2016shares	Dec. 31, 2015shares	Dec. 31, 2016shares	Dec. 31, 2015shares
Class of Stock [Line Items]
Shares under option, granted (shares)			0	5,500	0	18,500
Class A common stock | Chief Executive Officer
Class of Stock [Line Items]
Options exercise price range, lower (in dollars per share) | $ / shares		$ 15
Options exercise price range, upper (in dollars per share) | $ / shares		$ 50
Class A common stock | Chief Executive Officer | Stock option
Class of Stock [Line Items]
Number of shares authorized (shares)		450,000
Gaiam Americas, Inc. and Gaiam, Inc. (GVE)
Class of Stock [Line Items]
Number of employees joining company following acquisition | employee	10
Shares under option, granted (shares)	62,000
Weighted average exercise price per share, granted (in dollars per share) | $ / shares	$ 17.50
Options nonvested (shares)			11,625		11,625
Gaiam Americas, Inc. and Gaiam, Inc. (GVE) | Stock option
Class of Stock [Line Items]
Award vesting rights percentage	25.00%
Award vesting period	4 years
Aware expiration period	10 years

STOCKHOLDERS' DEFICIT - WARRAN

STOCKHOLDERS' DEFICIT - WARRANTS (Details) $ / shares in Units, $ in Thousands	Dec. 23, 2016USD ($)$ / sharesshares	Dec. 22, 2016USD ($)$ / shares	Jul. 31, 2016USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)tranche$ / sharesshares	Dec. 31, 2015USD ($)
Class of Warrant or Right [Line Items]
Expected life (years)					5 years		5 years
Allocated share-based compensation expense | $				$ 344	$ 350	$ 1,364	$ 1,424
Sageview Warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)	$ 12.36
Number of securities called by warrants (in shares) | shares	1,773,462
Warrant extension term (in years)			3 years
Allocated share-based compensation expense | $			$ 300
Amount received for termination | $	$ 5
Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Outstanding warrants | shares				52,500		52,500
Warrant termination notice (in days)						90 days
Warrants issued to creditors in connection with the 2013 Notes
Class of Warrant or Right [Line Items]
Outstanding warrants | shares				125,063		125,063
Warrant exercise price (in dollars per share)				$ 18.5		$ 18.5
Second Secured Lien Notes
Class of Warrant or Right [Line Items]
Outstanding warrants | shares				200,000		200,000
Warrants Issued in Connection with Convertible Notes
Class of Warrant or Right [Line Items]
Outstanding warrants | shares				200,000		200,000
Warrant exercise price (in dollars per share)				$ 1.60		$ 1.60
Warrants and rights outstanding | $		$ 200
Expected life (years)		5 years
Range of risk free rates		2.00%
Volatility rate		76.40%
Minimum
Class of Warrant or Right [Line Items]
Range of risk free rates					1.40%		1.40%
Minimum | Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				17.20		17.20
Minimum | Second Secured Lien Notes
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				1.34		1.34
Maximum
Class of Warrant or Right [Line Items]
Range of risk free rates					1.70%		1.70%
Maximum | Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				30		30
Maximum | Second Secured Lien Notes
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				$ 1.68		$ 1.68
Class A common stock | Second Secured Lien Notes
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares				100,000		100,000
Number of tranches | tranche						2
Class A common stock | Second Secured Lien Notes | Tranche One
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				$ 1.34		$ 1.34
Class A common stock | Second Secured Lien Notes | Tranche Two
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)				$ 1.68		$ 1.68
Convertible Debt | Exchange Agreement [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)		$ 1.60
Vesting period (in months)		6 months
Convertible Debt | Exchange Agreement [Member] | Warrants Issued in Connection with Convertible Notes
Class of Warrant or Right [Line Items]
Vesting period (in months)		6 months

COMMITMENTS AND CONTINGENCIES C

COMMITMENTS AND CONTINGENCIES Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Gain (loss) on contract termination	$ 2,535	$ 0	$ 2,535	$ 0

SUPPLEMENTAL CASH FLOW INFORM45

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Cash interest paid	$ 12,193	$ 11,542
Accrued dividends on preferred stock	178	89
Class A common stock
Condensed Cash Flow Statements, Captions [Line Items]
Issuance of Class A common stock for payment of preferred stock dividends	89	267
Class A common stock | Second Secured Lien Notes
Condensed Cash Flow Statements, Captions [Line Items]
Issuance of Class A common stock and warrants to purchase Class A common stock in connection with Second Secured Lien Notes	1,163	0
Issuance of Class A common stock and warrants to purchase Class A common stock in exchange for Convertible Notes	107
Class A common stock | Convertible Notes
Condensed Cash Flow Statements, Captions [Line Items]
Issuance of Class A common stock and warrants to purchase Class A common stock in exchange for Convertible Notes	$ 3,838	$ 0

SEGMENT INFORMATION - ASSETS an

SEGMENT INFORMATION - ASSETS and DEBT (Details)	9 Months Ended
	Dec. 31, 2016USD ($)systemsegmentssystems	Mar. 31, 2016USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]
Number of reportable segments | segments	4
Number of systems that have ceased to earn VPF | system	1,892
Total intangible assets, net	$ 21,623,000	$ 25,940,000
Total goodwill	8,701,000	8,701,000
Assets from continuing operations	177,116,000	209,398,000
Notes payable, non-recourse	71,909,000	112,312,000
Current portion of notes payable	84,518,000	86,938,000
Capital leases	$ 96,000	4,225,000
Phase I
Segment Reporting, Asset Reconciling Item [Line Items]
Number of systems installed | systems	3,724
Phase I | Segment, Continuing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	$ 172,000	206,000
Total goodwill	0	0
Assets from continuing operations	21,759,000	48,292,000
Notes payable, non-recourse	59,616,000	93,372,000
Current portion of notes payable	0	0
Capital leases	$ 0	0
Phase II
Segment Reporting, Asset Reconciling Item [Line Items]
Number of systems installed | systems	8,904
Phase II | Segment, Continuing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	$ 0	0
Total goodwill	0	0
Assets from continuing operations	51,151,000	53,727,000
Notes payable, non-recourse	12,293,000	18,940,000
Current portion of notes payable	0	0
Capital leases	0	0
Services | Segment, Continuing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	0	0
Total goodwill	0	0
Assets from continuing operations	982,000	1,064,000
Notes payable, non-recourse	0	0
Current portion of notes payable	0	0
Capital leases	0	0
Content & Entertainment | Segment, Continuing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	21,440,000	25,721,000
Total goodwill	8,701,000	8,701,000
Assets from continuing operations	96,290,000	87,344,000
Notes payable, non-recourse	0	0
Current portion of notes payable	0	0
Capital leases	13,000	30,000
Corporate | Segment, Continuing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	11,000	13,000
Total goodwill	0	0
Assets from continuing operations	6,934,000	18,971,000
Notes payable, non-recourse	0	0
Current portion of notes payable	84,518,000	86,938,000
Capital leases	$ 83,000	$ 4,195,000

SEGMENT INFORMATION - RECONCILI

SEGMENT INFORMATION - RECONCILIATION OF OPERATING PROFIT (LOSS) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	$ 24,445,000	$ 30,708,000	$ 70,800,000	$ 81,240,000
Direct operating (excludes depreciation and amortization shown below)	7,287,000	8,512,000	17,880,000	24,192,000
Selling, general and administrative	6,095,000	7,610,000	17,766,000	25,937,000
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	416,000	0	416,000	339,000
Restructuring, transition and acquisition expenses, net	22,000	576,000	132,000	772,000
Goodwill impairment	0	0	0	18,000,000
Litigation recovery, net of expenses	0	(225,000)	0	(635,000)
Depreciation and amortization of property and equipment	6,271,000	9,428,000	22,558,000	28,212,000
Amortization of intangible assets	1,395,000	1,463,000	4,322,000	4,385,000
Total operating expenses	21,486,000	27,364,000	63,074,000	101,202,000
Income (loss) from operations	2,959,000	3,344,000	7,726,000	(19,962,000)
Phase I
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	7,266,000	9,993,000	26,022,000	27,856,000
Direct operating (excludes depreciation and amortization shown below)	336,000	341,000	770,000	899,000
Selling, general and administrative	158,000	118,000	407,000	456,000
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	318,000		318,000	241,000
Restructuring, transition and acquisition expenses, net	0	0	0	0
Goodwill impairment				0
Litigation recovery, net of expenses		0		0
Depreciation and amortization of property and equipment	4,136,000	7,174,000	16,156,000	21,478,000
Amortization of intangible assets	11,000	12,000	34,000	31,000
Total operating expenses	4,959,000	7,645,000	17,685,000	23,105,000
Income (loss) from operations	2,307,000	2,348,000	8,337,000	4,751,000
Phase II
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	2,995,000	3,184,000	9,448,000	9,252,000
Direct operating (excludes depreciation and amortization shown below)	168,000	57,000	270,000	257,000
Selling, general and administrative	62,000	20,000	144,000	84,000
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	98,000		98,000	98,000
Restructuring, transition and acquisition expenses, net	0	0	0	0
Goodwill impairment				0
Litigation recovery, net of expenses		0		0
Depreciation and amortization of property and equipment	1,881,000	1,881,000	5,642,000	5,643,000
Amortization of intangible assets	0	0	0	0
Total operating expenses	2,209,000	1,958,000	6,154,000	6,082,000
Income (loss) from operations	786,000	1,226,000	3,294,000	3,170,000
Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	2,625,000	3,096,000	9,042,000	8,898,000
Direct operating (excludes depreciation and amortization shown below)	3,000	1,000	6,000	8,000
Selling, general and administrative	227,000	213,000	529,000	648,000
Allocation of Corporate overhead	399,000	405,000	1,194,000	1,212,000
Provision for doubtful accounts	0		0	0
Restructuring, transition and acquisition expenses, net	0	0	0	0
Goodwill impairment				0
Litigation recovery, net of expenses		0		0
Depreciation and amortization of property and equipment	0	0	0	0
Amortization of intangible assets	0	0	0	0
Total operating expenses	629,000	619,000	1,729,000	1,868,000
Income (loss) from operations	1,996,000	2,477,000	7,313,000	7,030,000
Content & Entertainment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	11,559,000	14,435,000	26,288,000	35,234,000
Direct operating (excludes depreciation and amortization shown below)	6,780,000	8,113,000	16,834,000	23,028,000
Selling, general and administrative	3,910,000	3,405,000	11,486,000	14,401,000
Allocation of Corporate overhead	906,000	1,357,000	2,706,000	4,058,000
Provision for doubtful accounts	0		0	0
Restructuring, transition and acquisition expenses, net	0	102,000	87,000	102,000
Goodwill impairment				18,000,000
Litigation recovery, net of expenses		(225,000)		(635,000)
Depreciation and amortization of property and equipment	69,000	88,000	204,000	239,000
Amortization of intangible assets	1,383,000	1,450,000	4,282,000	4,349,000
Total operating expenses	13,048,000	14,290,000	35,599,000	63,542,000
Income (loss) from operations	(1,489,000)	145,000	(9,311,000)	(28,308,000)
Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	0	0	0	0
Direct operating (excludes depreciation and amortization shown below)	0	0	0	0
Selling, general and administrative	1,738,000	3,854,000	5,200,000	10,348,000
Allocation of Corporate overhead	(1,305,000)	(1,762,000)	(3,900,000)	(5,270,000)
Provision for doubtful accounts	0		0	0
Restructuring, transition and acquisition expenses, net	22,000	474,000	45,000	670,000
Goodwill impairment				0
Litigation recovery, net of expenses		0		0
Depreciation and amortization of property and equipment	185,000	285,000	556,000	852,000
Amortization of intangible assets	1,000	1,000	6,000	5,000
Total operating expenses	641,000	2,852,000	1,907,000	6,605,000
Income (loss) from operations	$ (641,000)	$ (2,852,000)	$ (1,907,000)	$ (6,605,000)

SEGMENT INFORMATION - EMPLOYEE

SEGMENT INFORMATION - EMPLOYEE STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	$ 344	$ 350	$ 1,364	$ 1,424
Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	3	3	8	14
Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	341	347	1,356	1,410
Phase I
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase I | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase I | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Services
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	5	1	9	10
Services | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	3	1	6	9
Services | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	2	0	3	1
Content & Entertainment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	88	68	183	207
Content & Entertainment | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	2	2	5
Content & Entertainment | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	88	66	181	202
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	251	281	1,172	1,207
Corporate | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Corporate | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	$ 251	$ 281	$ 1,172	$ 1,207

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event	Feb. 08, 2017USD ($)shares	Jan. 31, 2017USD ($)
Subsequent Event [Line Items]
Annual cost savings on new lease		$ 700,000
Lease termination fee		$ 500,000
Payment period (in years)		5 years
Interest rate		5.00%
Term of contract (in years)		5 years
Second Secured Lien Notes | Convertible Debt
Subsequent Event [Line Items]
Number of shares (in shares) | shares	450,000
Carrying amount of equity component	$ 1,400,000
Debt face amount	$ 4,000,000
Debt interest rate, stated rate	5.50%