Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended |
Mar. 31, 2015 | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | FALSE |
Document Period End Date | 31-Mar-15 |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q3 |
Entity Registrant Name | Point.360 |
Entity Central Index Key | 1398797 |
Current Fiscal Year End Date | -24 |
Entity Filer Category | Smaller Reporting Company |
Trading Symbol | PTSX |
Entity Common Stock, Shares Outstanding | 10,536,906 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $809 | $2,346 |
Accounts receivable, net of allowances for doubtful accounts of $228 and $243, respectively | 2,714 | 3,431 |
Inventories, net | 163 | 230 |
Prepaid expenses and other current assets | 444 | 230 |
Total current assets | 4,130 | 6,237 |
Property and equipment, net | 9,449 | 10,173 |
Other assets, net | 621 | 639 |
Total assets | 14,200 | 17,049 |
Current liabilities: | ||
Current portion of notes payable | 4,993 | 5,159 |
Current portion of capital lease obligations | 55 | 326 |
Line of credit | 941 | 0 |
Accounts payable | 781 | 1,034 |
Accrued wages and benefits | 713 | 1,019 |
Other accrued expenses | 32 | 36 |
Current portion of deferred gain on sale of real estate | 178 | 178 |
Current portion of deferred lease incentive | 209 | 209 |
Total current liabilities | 7,902 | 7,961 |
Capital lease obligations, less current portion | 102 | 0 |
Deferred gain on sale of real estate, less current portion | 892 | 1,025 |
Deferred lease incentive, less current portion | 1,044 | 1,201 |
Other long term liabilities | 0 | 1 |
Total long-term liabilities | 2,038 | 2,227 |
Total liabilities | 9,940 | 10,188 |
Commitments and contingencies (Note 4) | ||
Shareholders' equity: | ||
Preferred stock - no par value; 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock - no par value; 50,000,000 shares authorized; 10,536,906 shares issued and outstanding on June 30, 2014 and March 31, 2015 | 21,715 | 21,715 |
Additional paid-in capital | 11,115 | 10,912 |
Accumulated deficit | -28,570 | -25,766 |
Total shareholders’ equity | 4,260 | 6,861 |
Total liabilities and shareholders’ equity | $14,200 | $17,049 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, allowances for doubtful accounts | $243 | $228 |
Preferred stock, no par value | $0 | $0 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, no par value | $0 | $0 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 10,536,906 | 10,536,906 |
Common stock, shares outstanding | 10,536,906 | 10,536,906 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Revenues | $5,325,000 | $6,134,000 | $15,810,000 | $19,193,000 |
Cost of services sold | -3,409,000 | -4,296,000 | -10,987,000 | -13,130,000 |
Gross profit | 1,916,000 | 1,838,000 | 4,823,000 | 6,063,000 |
Selling, general and administrative expense | -2,456,000 | -2,767,000 | -7,722,000 | -8,632,000 |
Operating loss | -540,000 | -929,000 | -2,899,000 | -2,569,000 |
Interest expense | -60,000 | -70,000 | -150,000 | -215,000 |
Other income | 85,000 | 337,000 | 245,000 | 492,000 |
Loss before income taxes | -515,000 | -662,000 | -2,804,000 | -2,292,000 |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | ($515,000) | ($662,000) | ($2,804,000) | ($2,292,000) |
Basic: | ||||
Net loss | ($0.05) | ($0.06) | ($0.27) | ($0.22) |
Weighted average number of shares | 10,536,906 | 10,536,906 | 10,536,906 | 10,531,536 |
Diluted: | ||||
Net loss | ($0.05) | ($0.06) | ($0.27) | ($0.22) |
Weighted average number of shares including the dilutive effect of stock options | 10,536,906 | 10,536,906 | 10,536,906 | 10,531,536 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | ($2,804,000) | ($2,292,000) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 1,062,000 | 1,430,000 |
Amortization of deferred gain on real estate | -133,000 | -134,000 |
Amortization of deferred lease credit | -157,000 | -156,000 |
Provision for (recovery of) doubtful accounts | 15,000 | -106,000 |
Stock compensation expense | 204,000 | 206,000 |
Changes in operating assets and liabilities: | ||
Decrease in accounts receivable | 702,000 | 840,000 |
Decrease in inventories | 67,000 | 89,000 |
(Increase) in prepaid expenses and other current assets | -213,000 | -172,000 |
Decrease in other assets | 18,000 | 24,000 |
(Decrease) in accounts payable | -253,000 | -267,000 |
Increase (decrease) in accrued wages and benefits | -306,000 | 19,000 |
(Decrease) in other accrued expenses and other liabilities | -6,000 | -19,000 |
Net cash (used in) operating activities | -1,804,000 | -538,000 |
Cash flows from investing activities: | ||
Capital expenditures | -354,000 | -271,000 |
Net cash (used in) investing activities | -354,000 | -271,000 |
Cash flows from financing activities: | ||
Stock option exercises | 0 | 20,000 |
Proceeds from line of credit, net | 941,000 | 0 |
Repayment of notes payable | -166,000 | -258,000 |
Repayment of capital lease obligations | -154,000 | -127,000 |
Net cash (used in) provided by financing activities | 621,000 | -365,000 |
Net increase (decrease) in cash and cash equivalents | -1,537,000 | -1,174,000 |
Cash and cash equivalents at beginning of period | 2,346,000 | 1,696,000 |
Cash and cash equivalents at end of period | 809,000 | 522,000 |
Cash payments for income taxes (net of refunds) | 0 | 5,000 |
Cash payments for interest | 135,000 | 218,000 |
Assets acquired under capital lease | $170,000 | $116,000 |
THE_COMPANY
THE COMPANY | 9 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ||||||||||
THE COMPANY | Note 1 – THE COMPANY | |||||||||
Point.360 and subsidiaries (the “Company,” “we” or “our”) provides high definition and standard definition digital mastering, data conversion, video and film asset management and computer graphics services to owners, producers and distributors of entertainment and advertising content. The Company provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming, feature films and movie trailers. The Company’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers. The Company also rents and sells DVDs directly to consumers through its Movie>Q retail stores. | ||||||||||
The Company operates in two business segments from two post production and three Movie>Q locations. Each post production location is electronically tied to the other and serves the same customer base. Depending on the location, the production equipment consists of tape duplication, editing, encoding, standards conversion, and other machinery. Each location employs personnel with the skills required to efficiently run the equipment and handle customer requirements. While the locations are not exactly the same, an order received at one location may be fulfilled at the other “sister” facility to use resources in the most efficient manner. | ||||||||||
Typically, a feature film or television show or related material will be submitted to a facility by a motion picture studio, independent producer, advertising agency, or corporation for processing and distribution. A common sales force markets the Company’s capability for the post production facilities. Once an order is received, the local customer service representative determines the most cost-effective way to perform the services considering geographical logistics and facility capabilities. | ||||||||||
In fiscal 2010, the Company purchased assets and intellectual property for a research and development project to address the viability of the DVD rental business being abandoned by the closure of Movie Gallery/Hollywood Video and Blockbuster stores. The DVD rental market consists principally of online services (Netflix), vending machines (Redbox) and other video stores. | ||||||||||
As of March 31, 2015, the Company had opened three Movie>Q stores in Southern California. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie titles and a large unit selection (as opposed to 400-700 for a Redbox vending machine). | ||||||||||
The Company may seek to expand the number of Movie>Q stores while further streamlining the design and production of the AIM system. Movie>Q provides the Company with a content distribution capability complimentary to the Company’s post production business. | ||||||||||
The accompanying unaudited Condensed Consolidated Financial Statements include the accounts and transactions of the Company, including those of the Company’s subsidiaries. The statements have been prepared in accordance with accounting principles generally accepted in the United States of America and by the Securities and Exchange Commission’s rules and regulations for reporting interim financial statements and footnotes. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. Operating results for the three and nine month periods ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2015. These financial statements should be read in conjunction with the financial statements and related notes contained in the Company’s Form 10-K for the period ended June 30, 2014. | ||||||||||
Pro Forma Earnings (Loss) Per Share | ||||||||||
A reconciliation of the denominator of the basic earnings per share (“EPS”) computation to the denominator of the diluted EPS computation is as follows (in thousands): | ||||||||||
Three Months | Three Months | Nine Months | Nine Months | |||||||
Ended | Ended | Ended | Ended | |||||||
March 31, | March 31, | March 31, | March 31, | |||||||
2014 | 2015 | 2014 | 2015 | |||||||
Pro forma weighted average of number of shares | ||||||||||
Weighted average number of common shares outstanding used in computation of basic EPS | 10,537 | 10,537 | 10,532 | 10,537 | ||||||
Dilutive effect of outstanding stock options | - | - | - | - | ||||||
Weighted average number of common and potential Common shares outstanding used in computation of Diluted EPS | 10,537 | 10,537 | 10,532 | 10,537 | ||||||
Anti-dilutive options excluded in the computation of diluted EPS due to net loss | 87 | 10 | 53 | 3 | ||||||
The weighted average number of common shares outstanding were the same amount for both basic and diluted loss per share in the three month period ended March 31, 2014 and 2015 and the nine-month periods ended March 31, 2014 and 2015. The effect of potentially dilutive securities for those periods were excluded from the computation of diluted earnings per share because their effect would be anti-dilutive (i.e., including such securities would result in a higher earnings per share, or lower loss per share, respectively). There were 1,177,485 and 1,431,566 potentially dilutive shares at March 31, 2014 and 2015, respectively. | ||||||||||
Fair Value Measurements | ||||||||||
The Company follows a framework for consistently measuring fair value under generally accepted accounting principles, and the disclosures of fair value measurements. The framework provides a fair value hierarchy to classify the source of the information. | ||||||||||
The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value and include the following: | ||||||||||
Level 1 – Quoted prices in active markets for identical assets or liabilities. | ||||||||||
Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||
Cash, the only Level 1 input applicable to the Company (there are no Level 2 or 3 inputs), is stated on the Condensed Consolidated Balance Sheets at fair value. | ||||||||||
As of March 31, 2015 the carrying value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities approximates fair value due to the short-term nature of such instruments. The carrying value of capital lease obligations, notes payable and other long-term liabilities approximates fair value as the related interest rates approximate rates currently available to the Company. | ||||||||||
NOTES_PAYABLE_AND_CAPITAL_LEAS
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS | 9 Months Ended |
Mar. 31, 2015 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS | NOTE 2 - NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS |
In August and September of 2012 (subsequently modified on December 18, 2013, September 5, 2014, and January 27, 2015), the Company entered into revolving credit, equipment financing and two mortgage agreements with a bank, as follows: | |
Revolving Credit Facility. The revolving credit facility previously provided up to $2 million of credit. The revolving credit agreement was canceled by the bank in December 2014 due to the Company’s failure to meet minimum financial covenant requirements described below. | |
Equipment Financing Facility. The equipment financing facility previously provided up to $1.25 million of financing for the cost of new and already-owned or leased equipment. All amounts due under the facility (approximately $0.2 million) were paid off in February 2015. | |
Hollywood Way and Vine Street Mortgages. The Company entered into two real estate term loan agreements with respect to its Hollywood Way and Vine Street locations for $5.5 million and $3.1 million, respectively. The Vine mortgage was paid off upon sale of the building in June 2014. The remaining Hollywood Way loan provides for interest at Libor plus 3% (3.18% as of March 31, 2015). Repayment is based on monthly payments with a 25-year amortization, with all principal due in 10 years. The real estate loan is secured by a first trust deed on the property. As of March 31, 2015, the Company owed approximately $5.0 million under the mortgage. | |
Amounts due under the mortgage are secured by the related real estate. During the 12 months ended March 31, 2015, while amounts were outstanding under the credit arrangements described above with respect to the mortgage, the Company was subject to minimum tangible net worth (TNW), EBITDA, and fixed charge ratio financial covenants. See below for changes effective in the quarter ended March 31, 2015. | |
As of September 30, 2014 the Company did not meet the TNW, the minimum quarterly EBITDA, and the minimum quarterly and TTM fixed charge ratio covenants. Availability under the revolving credit facility was canceled in December 2014. On January 27, 2015, the bank waived the Company’s breach of financial covenants as of September 30, 2014. Concurrently, the bank eliminated the previously mentioned financial covenant requirements effective with the quarter ended December 31, 2014 and imposed a new covenant requiring that, effective June 30, 2015, the Company shall maintain a ratio of EBITDA (as defined) to the sum of interest expense and the current portion of long term debt of not less than 1.0 to 1, to be measured semi-annually. Interest expense will be measured June 30, 2015 on a calendar year to date basis. Commencing on December 31, 2015 and thereafter, EBITDA and interest expense will be measured at the end of each calendar half-year on the basis of the preceding twelve months. | |
In February 2015, the company entered into a two-year credit agreement which provides $2 million of borrowings based on 80% of acceptable accounts receivable as defined. The loan and security agreement provides for interest at prime rate plus 1.5% (4.75% currently. In addition, the Company will pay a monthly “collateral management” fee of 0.6% off the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 0.25% of the amount of the credit facility. Amounts outstanding under the agreement will be secured by all of the Company’s personal property. As of March 31, 2015, the Company owed $0.9 million under the credit agreement. | |
Due to the Company’s failure to meet financial covenants in the past, and uncertainty of the Company’s ability to meet the new mortgage covenant requirements, the balance owed for the mortgage debt has been classified as a current liability in the consolidated balance sheet as of March 31, 2015. | |
PROPERTY_AND_EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended | ||||
Mar. 31, 2015 | |||||
Property, Plant and Equipment [Abstract] | |||||
PROPERTY AND EQUIPMENT | NOTE 3- PROPERTY AND EQUIPMENT | ||||
In March 2006, the Company entered into a sale and leaseback transaction with respect to its Media Center real estate. The real estate was sold for approximately $14.0 million resulting in a $1.3 million after tax gain. In accordance with the Accounting Standards Codification (ASC) 840-40, the gain will be amortized over the initial 15-year lease term as reduced rent. Net proceeds at the closing of the sale were used to pay off the mortgage and other outstanding debt. A $250,000 security deposit related to the lease has been recorded as a deposit in “other assets, net” in the Condensed Consolidated Balance Sheets as of June 30, 2014 and March 31, 2015. | |||||
The lease is treated as an operating lease for financial reporting purposes. After the initial lease term, the Company has four five-year options to extend the lease. Minimum annual rent payments for the initial five years of the lease were $1,111,000, increasing annually thereafter based on the Consumer Price Index change from year to year. | |||||
In June 2011, the Company entered into a lease amendment with respect to the Company’s Media Center facility. The amendment provided that the landlord would reimburse the Company up to $2 million for the leasehold improvements to be made by the Company to the premises. The leasehold improvements would be recorded as a fixed asset and amortized over the remaining term of the lease (until March 2021). Pursuant to the lease amendment, the Company’s monthly lease costs increased by approximately $27,000 on April 1, 2012. The Company incurred $2.1 million of costs for construction, of which $2.0 million was reimbursed by the landlord. A deferred lease incentive has been recorded for the total amount reimbursed by the landlord in accordance with ASC 840-20. The lease incentive is being amortized over the remaining lease term as an offset to rent. | |||||
Property and equipment consist of the following as of March 31, 2015: | |||||
Land | $ | 2,406,000 | |||
Buildings | 6,012,000 | ||||
Machinery and equipment | 38,264,000 | ||||
Leasehold improvements | 8,760,000 | ||||
Computer equipment | 8,005,000 | ||||
Equipment under capital lease | 1,102,000 | ||||
Office equipment, CIP | 610,000 | ||||
Subtotal | 65,159,000 | ||||
Less accumulated depreciation and amortization | -55,710,000 | ||||
Property and equipment, net | $ | 9,449,000 | |||
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 4- COMMITMENTS AND CONTINGENCIES |
From time to time, the Company may become a party to legal actions and complaints arising in the ordinary course of business, although it is not currently involved in any such legal proceedings. | |
INCOME_TAXES
INCOME TAXES | 9 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 5- INCOME TAXES |
The Company reviewed its Accounting Standards Codification (“ASC”) 740-10 documentation for the periods through March 31, 2015 to ascertain if any changes should be made with respect to tax positions previously taken. In addition, the Company reviewed its income tax reporting through March 31, 2015. Based on Company’s review of its tax positions as of March 31, 2015, no new uncertain tax positions have been identified; nor has new information become available that would change management’s judgment with respect to tax positions previously taken. | |
As of March 31, 2015, the Company had no net deferred tax assets. No tax benefit was recorded during the three month period ended March 31, 2015 because future realizability of such benefit was not considered to be more likely than not. | |
The ASC prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition. | |
The Company files income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal state or local income tax examinations by tax authorities for years before 2008. | |
STOCK_OPTION_PLAN_STOCKBASED_C
STOCK OPTION PLAN, STOCK-BASED COMPENSATION | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ||||||||||||||
STOCK OPTION PLAN, STOCK-BASED COMPENSATION | NOTE 6- STOCK OPTION PLAN, STOCK-BASED COMPENSATION | |||||||||||||
In May 2007, the Board of Directors approved the 2007 Equity Incentive Plan (the “2007 Plan”). The 2007 Plan provides for the award of options to purchase up to 2,000,000 shares of common stock, appreciation rights and restricted stock awards. | ||||||||||||||
In November 2010, the shareholders approved the 2010 Incentive Plan (the “2010 Plan”). The 2010 Plan provides for the award of options to purchase up to 4,000,000 shares of common stock, appreciation rights and restricted stock and performance awards. | ||||||||||||||
Under the 2007 and 2010 Plans, the stock option price per share for options granted is determined by the Board of Directors and is based on the market price of the Company’s common stock on the date of grant, and each option is exercisable within the period and in the increments as determined by the Board, except that no option can be exercised later than ten years from the grant date. The stock options generally vest in one to five years. | ||||||||||||||
The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. The Company estimates the fair value of the award that is ultimately expected to vest to be recognized as expense over the requisite service periods in the Condensed Consolidated Statements of Operations. | ||||||||||||||
The Company estimates the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Condensed Consolidated Statements of Operations. Stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended March 31, 2015 included compensation expense for the share-based payment awards based on the grant date fair value. For stock-based awards issued to employees and directors, stock-based compensation is attributed to expense using the straight-line single option method. As stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the periods reported in this Form 10-Q is based on awards expected to vest, forfeitures are also estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the period being reported in this Form 10-Q, expected forfeitures are immaterial. The Company will re-assess the impact of forfeitures if actual forfeitures increase in future quarters. Stock-based compensation expense related to employee or director stock options recognized for the three and nine month periods ended March 31, 2014 and 2015 was as follows: | ||||||||||||||
Three months ended March 31, 2014 | $ | 66,000 | ||||||||||||
Three months ended March 31, 2015 | $ | 64,000 | ||||||||||||
Nine months ended March 31, 2014 | $ | 206,000 | ||||||||||||
Nine months ended March 31, 2015 | $ | 203,000 | ||||||||||||
The Company’s determination of fair value of share-based payment awards to employees and directors on the date of grant uses the Black-Scholes model, which is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the expected term of the awards, and actual and projected employee stock options exercise behaviors. The Company estimates expected volatility using historical data. The expected term is estimated using the “safe harbor” provisions provided by the SEC. | ||||||||||||||
During each of the three and nine month periods ended March 31, 2014 and 2015, the Company granted awards of stock options as follows: | ||||||||||||||
2007 Plan | 2010 Plan | |||||||||||||
Options | Average Exercise | Options | Average Exercise | |||||||||||
Granted | Price per Share | Granted | Price per Share | |||||||||||
Three months ended March 31, 2014 | 120,000 | $ | 0.5 | 453,100 | $ | 0.5 | ||||||||
Three months ended March 31, 2015 | 250,000 | $ | 0.48 | 359,900 | $ | 0.48 | ||||||||
Nine months ended March 31, 2014 | 157,500 | $ | 0.55 | 453,100 | $ | 0.5 | ||||||||
Nine months ended March 31, 2015 | 285,000 | $ | 0.46 | 359,900 | $ | 0.48 | ||||||||
The following table summarizes the status of the 2007 and 2010 Plans as of March 31, 2015: | ||||||||||||||
2007 Plan | 2010 Plan | Total | ||||||||||||
Options originally available | 2,000,000 | 4,000,000 | 6,000,000 | |||||||||||
Stock options outstanding | 1,644,760 | 1,295,900 | 2,940,660 | |||||||||||
Options available for grant | 323,075 | 2,700,525 | 3,023,600 | |||||||||||
Transactions involving stock options are summarized as follows: | ||||||||||||||
Weighted Average | ||||||||||||||
Number | Weighted Average | Grant Date | ||||||||||||
of Shares | Exercise Price | Fair Value | ||||||||||||
Balance at June 30, 2014 | 2,657,348 | $ | 0.83 | $ | 0.52 | |||||||||
Granted | 5,000 | $ | 0.57 | $ | 0.4 | |||||||||
Exercised | - | - | - | |||||||||||
Cancelled | -13,875 | $ | 0.89 | $ | 0.53 | |||||||||
Balance at September 30, 2014 | 2,648,473 | $ | 0.83 | $ | 0.52 | |||||||||
Granted | 30,000 | $ | 0.23 | $ | 0.19 | |||||||||
Cancelled | -38,113 | $ | 0.93 | $ | 0.48 | |||||||||
Balance at December 31, 2014 | 2,640,360 | $ | 0.82 | $ | 0.51 | |||||||||
Granted | 609,900 | $ | 0.48 | $ | 0.44 | |||||||||
Cancelled | -309,600 | $ | 1.27 | $ | 0.58 | |||||||||
Balance at March 31, 2015 | 2,940,660 | $ | 0.7 | $ | 0.49 | |||||||||
As of March 31, 2015, the total compensation costs related to non-vested awards yet to be expensed was approximately $0.6 million to be amortized over the next four years. | ||||||||||||||
The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2015 were as follows: | ||||||||||||||
Number of | Weighted Average | Weighted Average | Intrinsic Value ($) | |||||||||||
Shares | Exercise Price ($) | Remaining | ||||||||||||
Contractual Life | ||||||||||||||
(Years) | ||||||||||||||
Employees – Outstanding | 2,790,660 | $ | 0.7 | 3.01 | - | |||||||||
Employees – Expected to Vest | 2,511,594 | $ | 0.7 | 3.01 | - | |||||||||
Employees – Exercisable | 1,289,066 | $ | 0.81 | 1.98 | - | |||||||||
Non-Employees-Outstanding | 150,000 | $ | 0.8 | 2.6 | 900 | |||||||||
Non-Employees- Expected to Vest | 150,000 | $ | 0.8 | 2.6 | 900 | |||||||||
Non-Employees-Exercisable | 142,500 | $ | 0.81 | 2.55 | 900 | |||||||||
The aggregate intrinsic value in the table above is the sum of the amounts by which the quoted market price of the Company’s common stock exceeded the exercise price of the options at March 31, 2015, for those options for which the quoted market price was in excess of the exercise price. | ||||||||||||||
Additional information with respect to outstanding options as of March 31, 2015 is as follows: | ||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Options Exercise | Number of | Weighted | Weighted | Number of | Weighted | |||||||||
Price Range | Shares | Average | Average | Shares | Average | |||||||||
Remaining | Exercise Price | Remaining | ||||||||||||
Contractual Life | Contractual Life | |||||||||||||
1.27 | 15,000 | 0.45 years | 1.27 | 15,000 | 0.45 years | |||||||||
1.15 | 22,500 | 0.64 years | 1.15 | 22,500 | 0.64 years | |||||||||
1.07 | 22,500 | 1.67 years | 1.07 | 22,500 | 1.67 years | |||||||||
0.95 | 230,250 | 1.96 years | 0.95 | 172,993 | 1.96 years | |||||||||
0.86 | 510,410 | 0.86 years | 0.86 | 510,410 | 0.86 years | |||||||||
0.81 | 811,550 | 2.86 years | 0.81 | 406,650 | 2.86 years | |||||||||
0.8 | 22,500 | 2.61 years | 0.8 | 22,500 | 2.61 years | |||||||||
0.75 | 75,000 | 1.12 years | 0.75 | 56,250 | 1.12 years | |||||||||
0.74 | 22,500 | 3.61 years | 0.74 | 22,500 | 3.61 years | |||||||||
0.64 | 15,000 | 3.62 years | 0.64 | 7,500 | 3.62 years | |||||||||
0.57 | 5,000 | 4.45 years | 0.57 | 5,000 | 4.45 years | |||||||||
0.5 | 549,550 | 3.85 years | 0.5 | 137,763 | 3.85 years | |||||||||
0.48 | 608,900 | 4.87 years | 0.48 | - | 4.87 years | |||||||||
0.23 | 30,000 | 4.60 years | 0.23 | 30,000 | 4.60 years | |||||||||
In addition to the above 2007 Plan, the Company issued 10,000 shares of restricted stock during fiscal year ended June 30, 2010 with a weighted average fair value of $0.58 per share. | ||||||||||||||
The Company uses the method provided in ASC 718 for calculating the beginning balance of the additional paid-in capital pool (APIC pool) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and the Condensed Consolidated Statements of Cash Flows of the tax effects of employee stock-based compensation awards that are outstanding upon adoption of ASC 718. | ||||||||||||||
STOCK_RIGHTS_PLAN
STOCK RIGHTS PLAN | 9 Months Ended |
Mar. 31, 2015 | |
Stock Rights Plan [Abstract] | |
STOCK RIGHTS PLAN | NOTE 7- STOCK RIGHTS PLAN |
In July 2007, the Company implemented a stock rights program. Pursuant to the program, stockholders of record on August 7, 2007, received a dividend of one right to purchase for $10 one one-hundredth of a share of a newly created Series A Junior Participating Preferred Stock. The rights are attached to the Company’s Common Stock and will also become attached to shares issued subsequent to August 7, 2007. The rights will not be traded separately and will not become exercisable until the occurrence of a triggering event, defined as an accumulation by a single person or group of 20% or more of the Company’s Common Stock. The rights will expire on August 6, 2017 and are redeemable at $0.0001 per right. | |
After a triggering event, the rights will detach from the Common Stock. If the Company is then merged into, or is acquired by, another corporation, the Company has the opportunity to either (i) redeem the rights or (ii) permit the rights holder to receive in the merger stock of the Company or the acquiring company equal to two times the exercise price of the right (i.e., $20). In the latter instance, the rights attached to the acquirer’s stock become null and void. The effect of the rights program is to make a potential acquisition of the Company more expensive for the acquirer if, in the opinion of the Company’s Board of Directors, the offer is inadequate. | |
No triggering events occurred during the nine months ended March 31, 2015. | |
SHAREHOLDERS_EQUITY
SHAREHOLDER'S EQUITY | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||
SHAREHOLDER'S EQUITY | NOTE 8- SHAREHOLDER’S EQUITY | |||||||||||||
The following table analyzes the components of shareholders’ equity from June 30, 2014 to December 31, 2014 (in thousands): | ||||||||||||||
Common | Paid-in | Accumulated | Shareholders’ | |||||||||||
Stock | Capital | (Deficit) | Equity | |||||||||||
Balance, June 30, 2014 | $ | 21,715 | $ | 10,912 | $ | -25,766 | $ | 6,861 | ||||||
Stock-based compensation expense | - | 68 | - | 68 | ||||||||||
Net loss | - | - | -1,204 | -1,204 | ||||||||||
Balance, September 30, 2014 | $ | 21,715 | $ | 10,980 | $ | -26,970 | $ | 5,725 | ||||||
Stock-based compensation expense | - | 71 | - | 71 | ||||||||||
Net loss | - | - | -1,085 | -1,085 | ||||||||||
Balance, December 31, 2014 | $ | 21,715 | $ | 11,051 | $ | -28,055 | $ | 4,711 | ||||||
Stock-based compensation expense | - | 64 | - | 64 | ||||||||||
Net loss | - | - | -515 | -515 | ||||||||||
Balance, March 31, 2015 | $ | 21,715 | $ | 11,115 | $ | -28,570 | $ | 4,260 | ||||||
STOCK_REPURCHASE_PLAN
STOCK REPURCHASE PLAN | 9 Months Ended |
Mar. 31, 2015 | |
Stock Repurchase Plan [Abstract] | |
STOCK REPURCHASE PLAN | NOTE 9- STOCK REPURCHASE PLAN |
In February 2008, the Company’s Board of Directors authorized a stock repurchase program. Under the stock repurchase program, the Company may purchase outstanding shares of its common stock on the open market at such times and prices determined in the sole discretion of management. No shares were acquired pursuant to the repurchase program during the three months ended March 31, 2015. | |
SEGMENT_INFORMATION
SEGMENT INFORMATION: | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||
SEGMENT INFORMATION | NOTE 10- SEGMENT INFORMATION: | |||||||||||||
In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. generally accepted accounting principles. The Company’s two segments are Point.360 and Movie>Q. The two segments discussed in this analysis are presented in the way the Company internally managed and monitored performance for the three and nine month periods ended March 31, 2014 and 2015. Allocations for internal resources were made for the periods. The Movie>Q segment tracks certain assets separately, and all others are recorded in the Point.360 segment for internal reporting presentations. Cash was not segregated between the two segments but retained in the Point.360 segment. | ||||||||||||||
The types of services provided by each segment are summarized below: | ||||||||||||||
Point.360 – The Point.360 segment provides high definition and standard definition digital mastering, data conversion, video and film asset management and other services to owners, producers and distributors of entertainment and advertising content. Point.360 provides the services necessary to edit, master, reformat, convert, archive and ultimately distribute its clients’ film and video content, including television programming feature films and movie trailers. The segment’s interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion picture studios and independent producers. | ||||||||||||||
Movie>Q – The Movie>Q segment rents and sells DVDs directly to consumers though its retail stores. The stores employ an automated inventory management (“AIM”) system in a 1,200-1,600 square foot facility. By saving space and personnel costs which caused the big box stores to be uncompetitive with lower priced online and vending machine rental alternatives, Movie>Q can offer up to 10,000 unit selections to a customer at competitive rental rates. Movie>Q provides online reservations, an in-store destination experience, first run movie and game titles and a large unit selection. | ||||||||||||||
Segment revenues, operating loss and total assets were as follows (in thousands): | ||||||||||||||
Revenue | Three Months | Nine Months | ||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||
Point.360 | $ | 6,017 | $ | 5,236 | $ | 18,840 | $ | 15,528 | ||||||
Movie>Q | 117 | 89 | 353 | 282 | ||||||||||
Consolidated revenue | $ | 6,134 | $ | 5,325 | $ | 19,193 | $ | 15,810 | ||||||
Operating loss | Three Months | Nine Months | ||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||
Point.360 | $ | -802 | $ | -469 | $ | -2,157 | $ | -2,646 | ||||||
Movie>Q | -127 | -71 | -412 | -253 | ||||||||||
Operating loss | $ | -929 | $ | -540 | $ | -2,569 | $ | -2,899 | ||||||
Total Assets | June 30, | March 31, | ||||||||||||
2014 | 2015 | |||||||||||||
Point.360 | $ | 16,204 | $ | 13,409 | ||||||||||
Movie>Q | 845 | 791 | ||||||||||||
Consolidated assets | $ | 17,049 | $ | 14,200 | ||||||||||
THE_COMPANY_Tables
THE COMPANY (Tables) | 9 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ||||||||||
Reconciliation of Denominator of Basic Earnings Per Share Computation to Denominator of Diluted Earnings Per Share Computation | A reconciliation of the denominator of the basic earnings per share (“EPS”) computation to the denominator of the diluted EPS computation is as follows (in thousands): | |||||||||
Three Months | Three Months | Nine Months | Nine Months | |||||||
Ended | Ended | Ended | Ended | |||||||
March 31, | March 31, | March 31, | March 31, | |||||||
2014 | 2015 | 2014 | 2015 | |||||||
Pro forma weighted average of number of shares | ||||||||||
Weighted average number of common shares outstanding used in computation of basic EPS | 10,537 | 10,537 | 10,532 | 10,537 | ||||||
Dilutive effect of outstanding stock options | - | - | - | - | ||||||
Weighted average number of common and potential Common shares outstanding used in computation of Diluted EPS | 10,537 | 10,537 | 10,532 | 10,537 | ||||||
Anti-dilutive options excluded in the computation of diluted EPS due to net loss | 87 | 10 | 53 | 3 | ||||||
PROPERTY_AND_EQUIPMENT_Tables
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended | ||||
Mar. 31, 2015 | |||||
Property, Plant and Equipment [Abstract] | |||||
Property and Equipment | Property and equipment consist of the following as of March 31, 2015: | ||||
Land | $ | 2,406,000 | |||
Buildings | 6,012,000 | ||||
Machinery and equipment | 38,264,000 | ||||
Leasehold improvements | 8,760,000 | ||||
Computer equipment | 8,005,000 | ||||
Equipment under capital lease | 1,102,000 | ||||
Office equipment, CIP | 610,000 | ||||
Subtotal | 65,159,000 | ||||
Less accumulated depreciation and amortization | -55,710,000 | ||||
Property and equipment, net | $ | 9,449,000 | |||
STOCK_OPTION_PLAN_STOCKBASED_C1
STOCK OPTION PLAN, STOCK-BASED COMPENSATION (Tables) | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ||||||||||||||
Stock-based Compensation Expense Related To Employee or Director Stock Options | Stock-based compensation expense related to employee or director stock options recognized for the three and nine month periods ended March 31, 2014 and 2015 was as follows: | |||||||||||||
Three months ended March 31, 2014 | $ | 66,000 | ||||||||||||
Three months ended March 31, 2015 | $ | 64,000 | ||||||||||||
Nine months ended March 31, 2014 | $ | 206,000 | ||||||||||||
Nine months ended March 31, 2015 | $ | 203,000 | ||||||||||||
Company Granted Awards Of Stock Options | During each of the three and nine month periods ended March 31, 2014 and 2015, the Company granted awards of stock options as follows: | |||||||||||||
2007 Plan | 2010 Plan | |||||||||||||
Options | Average Exercise | Options | Average Exercise | |||||||||||
Granted | Price per Share | Granted | Price per Share | |||||||||||
Three months ended March 31, 2014 | 120,000 | $ | 0.5 | 453,100 | $ | 0.5 | ||||||||
Three months ended March 31, 2015 | 250,000 | $ | 0.48 | 359,900 | $ | 0.48 | ||||||||
Nine months ended March 31, 2014 | 157,500 | $ | 0.55 | 453,100 | $ | 0.5 | ||||||||
Nine months ended March 31, 2015 | 285,000 | $ | 0.46 | 359,900 | $ | 0.48 | ||||||||
Summary of Status of Stock Plans | The following table summarizes the status of the 2007 and 2010 Plans as of March 31, 2015: | |||||||||||||
2007 Plan | 2010 Plan | Total | ||||||||||||
Options originally available | 2,000,000 | 4,000,000 | 6,000,000 | |||||||||||
Stock options outstanding | 1,644,760 | 1,295,900 | 2,940,660 | |||||||||||
Options available for grant | 323,075 | 2,700,525 | 3,023,600 | |||||||||||
Summary of Stock Options Transactions | Transactions involving stock options are summarized as follows: | |||||||||||||
Weighted Average | ||||||||||||||
Number | Weighted Average | Grant Date | ||||||||||||
of Shares | Exercise Price | Fair Value | ||||||||||||
Balance at June 30, 2014 | 2,657,348 | $ | 0.83 | $ | 0.52 | |||||||||
Granted | 5,000 | $ | 0.57 | $ | 0.4 | |||||||||
Exercised | - | - | - | |||||||||||
Cancelled | -13,875 | $ | 0.89 | $ | 0.53 | |||||||||
Balance at September 30, 2014 | 2,648,473 | $ | 0.83 | $ | 0.52 | |||||||||
Granted | 30,000 | $ | 0.23 | $ | 0.19 | |||||||||
Cancelled | -38,113 | $ | 0.93 | $ | 0.48 | |||||||||
Balance at December 31, 2014 | 2,640,360 | $ | 0.82 | $ | 0.51 | |||||||||
Granted | 609,900 | $ | 0.48 | $ | 0.44 | |||||||||
Cancelled | -309,600 | $ | 1.27 | $ | 0.58 | |||||||||
Balance at March 31, 2015 | 2,940,660 | $ | 0.7 | $ | 0.49 | |||||||||
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding | The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2015 were as follows: | |||||||||||||
Number of | Weighted Average | Weighted Average | Intrinsic Value ($) | |||||||||||
Shares | Exercise Price ($) | Remaining | ||||||||||||
Contractual Life | ||||||||||||||
(Years) | ||||||||||||||
Employees – Outstanding | 2,790,660 | $ | 0.7 | 3.01 | - | |||||||||
Employees – Expected to Vest | 2,511,594 | $ | 0.7 | 3.01 | - | |||||||||
Employees – Exercisable | 1,289,066 | $ | 0.81 | 1.98 | - | |||||||||
Non-Employees-Outstanding | 150,000 | $ | 0.8 | 2.6 | 900 | |||||||||
Non-Employees- Expected to Vest | 150,000 | $ | 0.8 | 2.6 | 900 | |||||||||
Non-Employees-Exercisable | 142,500 | $ | 0.81 | 2.55 | 900 | |||||||||
Additional Information with Respect to Outstanding Options | Additional information with respect to outstanding options as of March 31, 2015 is as follows: | |||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Options Exercise | Number of | Weighted | Weighted | Number of | Weighted | |||||||||
Price Range | Shares | Average | Average | Shares | Average | |||||||||
Remaining | Exercise Price | Remaining | ||||||||||||
Contractual Life | Contractual Life | |||||||||||||
1.27 | 15,000 | 0.45 years | 1.27 | 15,000 | 0.45 years | |||||||||
1.15 | 22,500 | 0.64 years | 1.15 | 22,500 | 0.64 years | |||||||||
1.07 | 22,500 | 1.67 years | 1.07 | 22,500 | 1.67 years | |||||||||
0.95 | 230,250 | 1.96 years | 0.95 | 172,993 | 1.96 years | |||||||||
0.86 | 510,410 | 0.86 years | 0.86 | 510,410 | 0.86 years | |||||||||
0.81 | 811,550 | 2.86 years | 0.81 | 406,650 | 2.86 years | |||||||||
0.8 | 22,500 | 2.61 years | 0.8 | 22,500 | 2.61 years | |||||||||
0.75 | 75,000 | 1.12 years | 0.75 | 56,250 | 1.12 years | |||||||||
0.74 | 22,500 | 3.61 years | 0.74 | 22,500 | 3.61 years | |||||||||
0.64 | 15,000 | 3.62 years | 0.64 | 7,500 | 3.62 years | |||||||||
0.57 | 5,000 | 4.45 years | 0.57 | 5,000 | 4.45 years | |||||||||
0.5 | 549,550 | 3.85 years | 0.5 | 137,763 | 3.85 years | |||||||||
0.48 | 608,900 | 4.87 years | 0.48 | - | 4.87 years | |||||||||
0.23 | 30,000 | 4.60 years | 0.23 | 30,000 | 4.60 years | |||||||||
SHAREHOLDERS_EQUITY_Tables
SHAREHOLDER'S EQUITY (Tables) | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||
Components of shareholders' equity | The following table analyzes the components of shareholders’ equity from June 30, 2014 to December 31, 2014 (in thousands): | |||||||||||||
Common | Paid-in | Accumulated | Shareholders’ | |||||||||||
Stock | Capital | (Deficit) | Equity | |||||||||||
Balance, June 30, 2014 | $ | 21,715 | $ | 10,912 | $ | -25,766 | $ | 6,861 | ||||||
Stock-based compensation expense | - | 68 | - | 68 | ||||||||||
Net loss | - | - | -1,204 | -1,204 | ||||||||||
Balance, September 30, 2014 | $ | 21,715 | $ | 10,980 | $ | -26,970 | $ | 5,725 | ||||||
Stock-based compensation expense | - | 71 | - | 71 | ||||||||||
Net loss | - | - | -1,085 | -1,085 | ||||||||||
Balance, December 31, 2014 | $ | 21,715 | $ | 11,051 | $ | -28,055 | $ | 4,711 | ||||||
Stock-based compensation expense | - | 64 | - | 64 | ||||||||||
Net loss | - | - | -515 | -515 | ||||||||||
Balance, March 31, 2015 | $ | 21,715 | $ | 11,115 | $ | -28,570 | $ | 4,260 | ||||||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION: (Tables) | 9 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||
Segment Revenues, Operating Loss and Total Assets | Segment revenues, operating loss and total assets were as follows (in thousands): | |||||||||||||
Revenue | Three Months | Nine Months | ||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||
Point.360 | $ | 6,017 | $ | 5,236 | $ | 18,840 | $ | 15,528 | ||||||
Movie>Q | 117 | 89 | 353 | 282 | ||||||||||
Consolidated revenue | $ | 6,134 | $ | 5,325 | $ | 19,193 | $ | 15,810 | ||||||
Operating loss | Three Months | Nine Months | ||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||
Point.360 | $ | -802 | $ | -469 | $ | -2,157 | $ | -2,646 | ||||||
Movie>Q | -127 | -71 | -412 | -253 | ||||||||||
Operating loss | $ | -929 | $ | -540 | $ | -2,569 | $ | -2,899 | ||||||
Total Assets | June 30, | March 31, | ||||||||||||
2014 | 2015 | |||||||||||||
Point.360 | $ | 16,204 | $ | 13,409 | ||||||||||
Movie>Q | 845 | 791 | ||||||||||||
Consolidated assets | $ | 17,049 | $ | 14,200 | ||||||||||
THE_COMPANY_Additional_Informa
THE COMPANY - Additional Information (Detail) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of business segments | 2 | |
Effect of dilutive options excluded in the computation of diluted EPS due to net loss | 10 | 3 |
Post Production | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of business locations | 2 | |
Movie Q | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of business locations | 3 | |
Number of stores opened | 3 | 3 |
Unit selections offered to a customer | 10,000 | |
Movie Q | Minimum | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Store facility area | 1,200 | 1,200 |
Movie Q | Maximum | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Store facility area | 1,600 | 1,600 |
Unit selections offered to a customer | 10,000 |
Reconciliation_of_Denominator_
Reconciliation of Denominator of Basic Earnings Per Share Computation to Denominator of Diluted Earnings Per Share Computation (Detail) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share Disclosure [Line Items] | ||||
Pro forma weighted average of number of shares Weighted average number of common shares outstanding used in computation of basic EPS | 10,536,906 | 10,536,906 | 10,536,906 | 10,531,536 |
Dilutive effect of outstanding stock options | 0 | 0 | 0 | 0 |
Weighted average number of common and potential Common shares outstanding used in computation of Diluted EPS | 10,536,906 | 10,536,906 | 10,536,906 | 10,531,536 |
Anti-dilutive options excluded in the computation of diluted EPS due to net loss | 10,000 | 87,000 | 3,000 | 53,000 |
NOTES_PAYABLE_AND_CAPITAL_LEAS1
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Feb. 28, 2015 | Mar. 31, 2015 | Sep. 30, 2012 |
Debt Instrument [Line Items] | |||
Debt instrument interest rate basis for effective percentage | Libor plus 3% | ||
Debt instrument interest rate for effective percentage | 3.18% | ||
Debt instruments, amortization period (in years) | 25 years | ||
Debt instruments, principal amount due period (in years) | 10 years | ||
Line of credit facility borrowing capacity | The revolving credit facility previously provided up to $2 million of credit | ||
Line of Credit Facility, Current Borrowing Capacity | $0.90 | ||
Line of Credit Facility, Interest Rate Description | interest at prime rate plus 1.5% (4.75% currently. In addition, the Company will pay a monthly collateral management fee of 0.6% off the outstanding daily loan balance (an equivalent annual fee of 7.2%), and an annual commitment fee of 0.25% of the amount of the credit facility | ||
Real Estate Term Loan One | |||
Debt Instrument [Line Items] | |||
Long term construction loan agreements, value | 5.5 | ||
Real Estate Term Loan Two | |||
Debt Instrument [Line Items] | |||
Long term construction loan agreements, value | 3.1 | ||
Equipment Financing Facilities | |||
Debt Instrument [Line Items] | |||
Credit agreement | 1.25 | ||
Line of Credit Facility, Periodic Payment | 0.2 | ||
Hollywood Way Mortgage | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility Mortgage loan | $5 |
PROPERTY_AND_EQUIPMENT_Additio
PROPERTY AND EQUIPMENT - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | |||
Apr. 01, 2012 | Mar. 31, 2006 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2011 | |
Property, Plant and Equipment [Line Items] | |||||
Sale and leaseback transaction, real estate sold, amount | $14,000,000 | ||||
Sale and leaseback transaction, real estate sold, after tax gain | 1,300,000 | ||||
Sale and leaseback transaction, lease term | 15 years | ||||
Sale and leaseback transaction, security deposit | 250,000 | 250,000 | |||
Sale and leaseback transaction, number of options to extend the lease | 4 | ||||
Sale and leaseback transaction, period of options to extend the lease | 5 years | ||||
Sale and leaseback transaction, minimum annual rent payments for the initial five years of the lease | 1,111,000 | ||||
Sale and leaseback transaction, maximum amount to be reimbursed to the Company for the leasehold improvements | 2,000,000 | ||||
Sale and leaseback transaction, lease expiration date | 31-Mar-21 | ||||
Sale and leaseback transaction, monthly lease costs | 27,000 | ||||
Sale and leaseback transaction, costs for construction incurred | 2,100,000 | ||||
Sale and leaseback transaction, costs for construction reimbursed by the landlord | $2,000,000 |
PROPERTY_AND_EQUIPMENT_Detail
PROPERTY AND EQUIPMENT (Detail) (USD $) | Mar. 31, 2015 |
Property, Plant and Equipment [Line Items] | |
Land | $2,406,000 |
Buildings | 6,012,000 |
Machinery and equipment | 38,264,000 |
Leasehold improvements | 8,760,000 |
Computer equipment | 8,005,000 |
Equipment under capital lease | 1,102,000 |
Office equipment, CIP | 610,000 |
Subtotal | 65,159,000 |
Less accumulated depreciation and amortization | -55,710,000 |
Property and equipment, net | $9,449,000 |
INCOME_TAXES_Additional_Inform
INCOME TAXES - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Income Taxes [Line Items] | |
Net deferred tax assets | $0 |
Tax benefit | $0 |
STOCK_OPTION_PLAN_STOCKBASED_C2
STOCK OPTION PLAN, STOCK-BASED COMPENSATION - Additional Information (Detail) (USD $) | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | 31-May-07 | Jun. 30, 2010 | Nov. 30, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation cost related to non-vested awards to be expensed, recognition period | 4 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $0.60 | |||
2007 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options expiration period | 10 years | |||
Restricted stock issued | 10,000 | |||
Restricted stock issued, weighted average fair value | $0.58 | |||
2007 Equity Incentive Plan | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting period | 1 year | |||
2007 Equity Incentive Plan | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting period | 5 years | |||
2007 Equity Incentive Plan | Common And Restricted Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options originally available | 2,000,000 | |||
2010 Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options expiration period | 10 years | |||
2010 Incentive Plan | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting period | 1 year | |||
2010 Incentive Plan | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options vesting period | 5 years | |||
2010 Incentive Plan | Common And Restricted Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options originally available | 4,000,000 |
Recognized_Stockbased_compensa
Recognized Stock-based compensation (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense related to employee or director stock options recognized | $64,000 | $66,000 | $203,000 | $206,000 |
Company_granted_awards_of_stoc
Company granted awards of stock options (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
2007 Equity Incentive Plan | ||||
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items] | ||||
Granted | 250,000 | 120,000 | 285,000 | 157,500 |
Weighted average Exercise price | $0.48 | $0.50 | $0.46 | $0.55 |
2010 Incentive Plan | ||||
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items] | ||||
Granted | 359,900 | 453,100 | 359,900 | 453,100 |
Weighted average Exercise price | $0.48 | $0.50 | $0.48 | $0.50 |
Summary_of_Status_of_Stock_Pla
Summary of Status of Stock Plans (Detail) (Stock Options) | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options originally available | 6,000,000 | |||
Stock options outstanding | 2,940,660 | 2,640,360 | 2,648,473 | 2,657,348 |
Options available for grant | 3,023,600 | |||
2007 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options originally available | 2,000,000 | |||
Stock options outstanding | 1,644,760 | |||
Options available for grant | 323,075 | |||
2010 Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options originally available | 4,000,000 | |||
Stock options outstanding | 1,295,900 | |||
Options available for grant | 2,700,525 |
Summary_of_Stock_Options_Trans
Summary of Stock Options Transactions (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Stock Option [Member] | |||
Number of Shares | |||
Granted | 609,900 | ||
Cancelled | -309,600 | ||
Ending Balance | 2,940,660 | ||
Weighted Average Exercise Price | |||
Granted | $0.48 | ||
Cancelled | $1.27 | ||
Ending Balance | $0.70 | ||
Weighted Average Grant Date Fair Value | |||
Granted | $0.44 | ||
Cancelled | $0.58 | ||
Ending Balance | $0.49 | ||
Stock Options | |||
Number of Shares | |||
Beginning Balance | 2,648,473 | 2,657,348 | |
Granted | 30,000 | 5,000 | |
Exercised | 0 | ||
Cancelled | -38,113 | -13,875 | |
Ending Balance | 2,940,660 | 2,640,360 | 2,648,473 |
Weighted Average Exercise Price | |||
Beginning Balance | $0.83 | $0.83 | |
Granted | $0.23 | $0.57 | |
Exercised | $0 | ||
Cancelled | $0.93 | $0.89 | |
Ending Balance | $0.82 | $0.83 | |
Weighted Average Grant Date Fair Value | |||
Beginning Balance | $0.52 | $0.52 | |
Granted | $0.19 | $0.40 | |
Exercised | $0 | ||
Cancelled | $0.48 | $0.53 | |
Ending Balance | $0.51 | $0.52 |
Weighted_Average_Exercise_Pric
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding (Detail) (USD $) | 9 Months Ended |
Mar. 31, 2015 | |
Employees | |
Number of Shares | |
Outstanding | 2,790,660 |
Vested and Expected to Vest | 2,511,594 |
Exercisable | 1,289,066 |
Weighted Average Exercise Price | |
Outstanding | $0.70 |
Vested and Expected to Vest | $0.70 |
Exercisable | $0.81 |
Weighted Average Remaining Contractual Life (Years) | |
Outstanding | 3 years 4 days |
Vested and Expected to Vest | 3 years 4 days |
Exercisable | 1 year 11 months 23 days |
Intrinsic Value | |
Outstanding | $0 |
Vested and Expected to Vest | 0 |
Exercisable | 0 |
Non-Employees | |
Number of Shares | |
Outstanding | 150,000 |
Vested and Expected to Vest | 150,000 |
Exercisable | 142,500 |
Weighted Average Exercise Price | |
Outstanding | $0.80 |
Vested and Expected to Vest | $0.80 |
Exercisable | $0.81 |
Weighted Average Remaining Contractual Life (Years) | |
Outstanding | 2 years 7 months 6 days |
Vested and Expected to Vest | 2 years 7 months 6 days |
Exercisable | 2 years 6 months 18 days |
Intrinsic Value | |
Outstanding | 900 |
Vested and Expected to Vest | 900 |
Exercisable | $900 |
Additional_Information_with_Re
Additional Information with Respect to Outstanding Options (Detail) (USD $) | 9 Months Ended |
Mar. 31, 2015 | |
Range One | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $1.27 |
Options Outstanding, Number of Shares | 15,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 5 months 12 days |
Options Outstanding, Weighted Average Exercise Price | $1.27 |
Options Exercisable, Number of Shares | 15,000 |
Options Exercisable, Weighted Average Remaining Contractual Life | 5 months 12 days |
Range Two | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $1.15 |
Options Outstanding, Number of Shares | 22,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | 7 months 20 days |
Options Outstanding, Weighted Average Exercise Price | $1.15 |
Options Exercisable, Number of Shares | 22,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | 7 months 20 days |
Range Three | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $1.07 |
Options Outstanding, Number of Shares | 22,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | 1 year 8 months 1 day |
Options Outstanding, Weighted Average Exercise Price | $1.07 |
Options Exercisable, Number of Shares | 22,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | 1 year 8 months 1 day |
Range Four | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.95 |
Options Outstanding, Number of Shares | 230,250 |
Options Outstanding, Weighted Average Remaining Contractual Life | 1 year 11 months 16 days |
Options Outstanding, Weighted Average Exercise Price | $0.95 |
Options Exercisable, Number of Shares | 172,993 |
Options Exercisable, Weighted Average Remaining Contractual Life | 1 year 11 months 16 days |
Range Five | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.86 |
Options Outstanding, Number of Shares | 510,410 |
Options Outstanding, Weighted Average Remaining Contractual Life | 10 months 10 days |
Options Outstanding, Weighted Average Exercise Price | $0.86 |
Options Exercisable, Number of Shares | 510,410 |
Options Exercisable, Weighted Average Remaining Contractual Life | 10 months 10 days |
Range Six | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.81 |
Options Outstanding, Number of Shares | 811,550 |
Options Outstanding, Weighted Average Remaining Contractual Life | 2 years 10 months 10 days |
Options Outstanding, Weighted Average Exercise Price | $0.81 |
Options Exercisable, Number of Shares | 406,650 |
Options Exercisable, Weighted Average Remaining Contractual Life | 2 years 10 months 10 days |
Range Seven | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.80 |
Options Outstanding, Number of Shares | 22,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | 2 years 7 months 10 days |
Options Outstanding, Weighted Average Exercise Price | $0.80 |
Options Exercisable, Number of Shares | 22,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | 2 years 7 months 10 days |
Range Eight | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.75 |
Options Outstanding, Number of Shares | 75,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 1 year 1 month 13 days |
Options Outstanding, Weighted Average Exercise Price | $0.75 |
Options Exercisable, Number of Shares | 56,250 |
Options Exercisable, Weighted Average Remaining Contractual Life | 1 year 1 month 13 days |
Range Nine | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.74 |
Options Outstanding, Number of Shares | 22,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | 3 years 7 months 10 days |
Options Outstanding, Weighted Average Exercise Price | $0.74 |
Options Exercisable, Number of Shares | 22,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | 3 years 7 months 10 days |
Range Ten | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.64 |
Options Outstanding, Number of Shares | 15,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 3 years 7 months 13 days |
Options Outstanding, Weighted Average Exercise Price | $0.64 |
Options Exercisable, Number of Shares | 7,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | 3 years 7 months 13 days |
Range Eleven | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.57 |
Options Outstanding, Number of Shares | 5,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 5 months 12 days |
Options Outstanding, Weighted Average Exercise Price | $0.57 |
Options Exercisable, Number of Shares | 5,000 |
Options Exercisable, Weighted Average Remaining Contractual Life | 4 years 5 months 12 days |
Range Twelve | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.50 |
Options Outstanding, Number of Shares | 549,550 |
Options Outstanding, Weighted Average Remaining Contractual Life | 3 years 10 months 6 days |
Options Outstanding, Weighted Average Exercise Price | $0.50 |
Options Exercisable, Number of Shares | 137,763 |
Options Exercisable, Weighted Average Remaining Contractual Life | 3 years 10 months 6 days |
Range Thirteen | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.48 |
Options Outstanding, Number of Shares | 608,900 |
Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 10 months 13 days |
Options Outstanding, Weighted Average Exercise Price | $0.48 |
Options Exercisable, Number of Shares | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | 4 years 10 months 13 days |
Range Fourteen | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Options Exercise Price Range | $0.23 |
Options Outstanding, Number of Shares | 30,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 7 months 6 days |
Options Outstanding, Weighted Average Exercise Price | $0.23 |
Options Exercisable, Number of Shares | 30,000 |
Options Exercisable, Weighted Average Remaining Contractual Life | 4 years 7 months 6 days |
STOCK_RIGHTS_PLAN_Additional_I
STOCK RIGHTS PLAN - Additional Information (Detail) (USD $) | 1 Months Ended |
Jul. 31, 2007 | |
Class of Warrant or Right [Line Items] | |
Minimum stock percentage accumulated by a single person or group for the rights to become exercisable | 20.00% |
Rights expiration date | 6-Aug-17 |
Redemption price per right | 0.0001 |
Price to receive in the merger stock of the Company or the acquiring company | $20 |
Price to purchase one one-hundredth of a share of preferred stock | $10 |
Components_of_shareholders_equ
Components of shareholders' equity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Beginning Balance | $4,711,000 | $5,725,000 | $6,861,000 | $6,861,000 | ||
Stock-based compensation expense | 64,000 | 71,000 | 68,000 | |||
Net loss | -515,000 | -1,085,000 | -1,204,000 | -662,000 | -2,804,000 | -2,292,000 |
Ending Balance | 4,260,000 | 4,711,000 | 5,725,000 | 4,260,000 | ||
Common Stock | ||||||
Beginning Balance | 21,715,000 | 21,715,000 | 21,715,000 | 21,715,000 | ||
Stock-based compensation expense | 0 | 0 | 0 | |||
Net loss | 0 | 0 | 0 | |||
Ending Balance | 21,715,000 | 21,715,000 | 21,715,000 | 21,715,000 | ||
Paid-in Capital | ||||||
Beginning Balance | 11,051,000 | 10,980,000 | 10,912,000 | 10,912,000 | ||
Stock-based compensation expense | 64,000 | 71,000 | 68,000 | |||
Net loss | 0 | 0 | 0 | |||
Ending Balance | 11,115,000 | 11,051,000 | 10,980,000 | 11,115,000 | ||
Accumulated (Deficit) | ||||||
Beginning Balance | -28,055,000 | -26,970,000 | -25,766,000 | -25,766,000 | ||
Stock-based compensation expense | 0 | 0 | 0 | |||
Net loss | -515,000 | -1,085,000 | -1,204,000 | |||
Ending Balance | ($28,570,000) | ($28,055,000) | ($26,970,000) | ($28,570,000) |
SEGMENT_INFORMATION_Additional
SEGMENT INFORMATION: - Additional Information (Detail) (Movie Q) | 9 Months Ended |
Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | |
Unit selections offered to a customer | 10,000 |
Minimum | |
Segment Reporting Information [Line Items] | |
Store facility area | 1,200 |
Maximum | |
Segment Reporting Information [Line Items] | |
Store facility area | 1,600 |
Unit selections offered to a customer | 10,000 |
Segment_Revenues_Operating_Los
Segment Revenues, Operating Loss and Total Assets (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | |||||
Revenue | $5,325,000 | $6,134,000 | $15,810,000 | $19,193,000 | |
Operating loss | -540,000 | -929,000 | -2,899,000 | -2,569,000 | |
Total Assets | 14,200,000 | 14,200,000 | 17,049,000 | ||
Point.360 | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 5,236,000 | 6,017,000 | 15,528,000 | 18,840,000 | |
Operating loss | -469,000 | -802,000 | -2,646,000 | -2,157,000 | |
Total Assets | 13,409,000 | 13,409,000 | 16,204,000 | ||
Movie Q | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 89,000 | 117,000 | 282,000 | 353,000 | |
Operating loss | -71,000 | -127,000 | -253,000 | -412,000 | |
Total Assets | $791,000 | $791,000 | $845,000 |