Investor Relations

The Viggle Platform had an average monthly total reach of 26 million for the three months ended December 2014, including over 7.9 million Viggle registered users.

Financials

v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Current assets:    
Cash and cash equivalents $ 715us-gaap_Cash $ 7us-gaap_Cash
Accounts receivable (net of allowance for doubtful accounts of $95 at March 31, 2015 and June 30, 2014) 2,875us-gaap_AccountsReceivableNetCurrent 3,962us-gaap_AccountsReceivableNetCurrent
Prepaid expenses 875us-gaap_PrepaidExpenseCurrent 949us-gaap_PrepaidExpenseCurrent
Other receivables 480us-gaap_OtherReceivablesNetCurrent 80us-gaap_OtherReceivablesNetCurrent
Restricted cash 0us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 5,000us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue
Total current assets 4,945us-gaap_AssetsCurrent 9,998us-gaap_AssetsCurrent
Restricted cash 695us-gaap_RestrictedCashAndCashEquivalentsNoncurrent 700us-gaap_RestrictedCashAndCashEquivalentsNoncurrent
Property & equipment, net 2,607us-gaap_PropertyPlantAndEquipmentNet 2,613us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 25,145us-gaap_FiniteLivedIntangibleAssetsNet 28,810us-gaap_FiniteLivedIntangibleAssetsNet
Goodwill 37,182us-gaap_Goodwill 36,627us-gaap_Goodwill
Other assets 309us-gaap_OtherAssets 351us-gaap_OtherAssets
Total assets 70,883us-gaap_Assets 79,099us-gaap_Assets
Current liabilities:    
Accounts payable and accrued expenses 10,532us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 7,810us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Reward points payable 7,956vggl_RewardPointsPayable 4,927vggl_RewardPointsPayable
Contingent consideration liability 4,792vggl_BusinessCombinationContingentConsiderationLiabilityCurrent 4,792vggl_BusinessCombinationContingentConsiderationLiabilityCurrent
Common stock warrant liability 10vggl_CommonStockWarrantLiability 15vggl_CommonStockWarrantLiability
Deferred revenue 609us-gaap_DeferredRevenue 911us-gaap_DeferredRevenue
Current portion of loan payable 4,750us-gaap_LoansPayableCurrent 15,000us-gaap_LoansPayableCurrent
Total current liabilities 28,649us-gaap_LiabilitiesCurrent 33,455us-gaap_LiabilitiesCurrent
Loan payable, less current portion 19,466us-gaap_LongTermLoansPayable 0us-gaap_LongTermLoansPayable
Deferred revenue 3,979us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability 4,354us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
Other long-term liabilities 2,492us-gaap_OtherLiabilitiesNoncurrent 1,488us-gaap_OtherLiabilitiesNoncurrent
Total liabilities 54,586us-gaap_Liabilities 39,297us-gaap_Liabilities
Commitments and contingencies      
Stockholders' equity:    
Common stock, $0.001 par value: authorized 300,000,000 shares, issued and outstanding 16,901,738 and 15,743,541 shares as of March 31, 2015 and June 30, 2014, respectively 16us-gaap_CommonStockValue 16us-gaap_CommonStockValue
Additional paid-in-capital 366,042us-gaap_AdditionalPaidInCapital 340,163us-gaap_AdditionalPaidInCapital
Treasury stock, 215,164 and 211,414 shares at March 31, 2015 and June 30, 2014, respectively (11,916)us-gaap_TreasuryStockValue (11,556)us-gaap_TreasuryStockValue
Accumulated deficit (349,266)us-gaap_RetainedEarningsAccumulatedDeficit (288,821)us-gaap_RetainedEarningsAccumulatedDeficit
Total stockholders' equity 4,876us-gaap_StockholdersEquity 39,802us-gaap_StockholdersEquity
Total liabilities, convertible redeemable preferred stock and stockholders' equity 70,883us-gaap_LiabilitiesAndStockholdersEquity 79,099us-gaap_LiabilitiesAndStockholdersEquity
Preferred Class A    
Current liabilities:    
Convertible redeemable preferred stock 0us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesAConvertiblePreferredStockMember
0us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesAConvertiblePreferredStockMember
Preferred Class B    
Stockholders' equity:    
Series B Convertible Preferred Stock, $1,000 stated value, authorized 50,000 shares, issued and outstanding -0- shares as of March 31, 2015 and June 30, 2014 0us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesBConvertiblePreferredStockMember
0us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesBConvertiblePreferredStockMember
Preferred Class C    
Current liabilities:    
Convertible redeemable preferred stock $ 11,421us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesCConvertiblePreferredStockMember
$ 0us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementClassOfStockAxis
= vggl_SeriesCConvertiblePreferredStockMember

Source

v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Income Statement [Abstract]        
Revenues $ 5,021us-gaap_Revenues $ 3,306us-gaap_Revenues $ 18,680us-gaap_Revenues $ 12,677us-gaap_Revenues
Cost of watchpoints and engagement points (2,758)vggl_CostOfWatchpointsAndEngagementPoints 1,148vggl_CostOfWatchpointsAndEngagementPoints (6,948)vggl_CostOfWatchpointsAndEngagementPoints (1,509)vggl_CostOfWatchpointsAndEngagementPoints
Selling, general and administrative expenses (21,918)us-gaap_SellingGeneralAndAdministrativeExpense (18,841)us-gaap_SellingGeneralAndAdministrativeExpense (70,704)us-gaap_SellingGeneralAndAdministrativeExpense (61,745)us-gaap_SellingGeneralAndAdministrativeExpense
Operating loss (19,655)us-gaap_OperatingIncomeLoss (14,387)us-gaap_OperatingIncomeLoss (58,972)us-gaap_OperatingIncomeLoss (50,577)us-gaap_OperatingIncomeLoss
Other (expense) income:        
Other income, net 1vggl_OtherIncomeNet 529vggl_OtherIncomeNet 11vggl_OtherIncomeNet 1,420vggl_OtherIncomeNet
Interest expense, net (935)us-gaap_InterestIncomeExpenseNet (256)us-gaap_InterestIncomeExpenseNet (1,419)us-gaap_InterestIncomeExpenseNet (2,597)us-gaap_InterestIncomeExpenseNet
Total other (expense) income (934)us-gaap_NonoperatingIncomeExpense 273us-gaap_NonoperatingIncomeExpense (1,408)us-gaap_NonoperatingIncomeExpense (1,177)us-gaap_NonoperatingIncomeExpense
Net loss before provision for income taxes (20,589)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (14,114)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (60,380)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (51,754)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax expense (22)us-gaap_IncomeTaxExpenseBenefit (22)us-gaap_IncomeTaxExpenseBenefit (65)us-gaap_IncomeTaxExpenseBenefit (68)us-gaap_IncomeTaxExpenseBenefit
Net loss (20,611)us-gaap_NetIncomeLoss (14,136)us-gaap_NetIncomeLoss (60,445)us-gaap_NetIncomeLoss (51,822)us-gaap_NetIncomeLoss
Accretion of Convertible Redeemable Preferred Stock 45us-gaap_TemporaryEquityAccretionToRedemptionValueAdjustment 176us-gaap_TemporaryEquityAccretionToRedemptionValueAdjustment 61us-gaap_TemporaryEquityAccretionToRedemptionValueAdjustment 176us-gaap_TemporaryEquityAccretionToRedemptionValueAdjustment
Net loss attributable to common stockholders $ (20,566)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (13,960)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (60,384)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (51,646)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Net loss per common share - basic and diluted (usd per share) $ (1.24)us-gaap_EarningsPerShareBasicAndDiluted $ (9.32)us-gaap_EarningsPerShareBasicAndDiluted $ (3.74)us-gaap_EarningsPerShareBasicAndDiluted $ (42.64)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average common shares outstanding - basic and diluted (in shares) 16,628,988us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 1,498,010us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 16,133,970us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 1,207,050us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted

Source

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities:    
Net loss $ (60,445)us-gaap_NetIncomeLoss $ (51,822)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Restricted stock - share based compensation 19,253us-gaap_RestrictedStockExpense 14,346us-gaap_RestrictedStockExpense
Employee stock options - share based compensation 3,700us-gaap_StockOptionPlanExpense 5,427us-gaap_StockOptionPlanExpense
Share based compensation in connection with Securities Purchase Agreement 4,141us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 0us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Stock issued for services 208us-gaap_AdjustmentOfWarrantsGrantedForServices 0us-gaap_AdjustmentOfWarrantsGrantedForServices
Stock compensation in connection with line of credit borrowing 0vggl_SharebasedCompensationinConnectionwithLineofCreditBorrowing 3,810vggl_SharebasedCompensationinConnectionwithLineofCreditBorrowing
Compensation charge in connection with issuance of preferred stock in exchange for $20M 8% Note, common shares and warrants 0vggl_SharebasedCompensationinConnectionwithIssuanceofPreferredStockExchangedforDebt 6,259vggl_SharebasedCompensationinConnectionwithIssuanceofPreferredStockExchangedforDebt
Interest expense related to November 25, 2013 PIPE Exchange 0vggl_InterestExpenseRecognizedOnWriteoffofDebtDiscount 1,231vggl_InterestExpenseRecognizedOnWriteoffofDebtDiscount
Decrease in fair value of convertible debt embedded derivative 0us-gaap_EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet (16)us-gaap_EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
Decrease in fair value of common stock warrants (5)vggl_IncreaseDecreaseinFairValueofCommonStockWarrants (346)vggl_IncreaseDecreaseinFairValueofCommonStockWarrants
Accretion of Note discount 66us-gaap_AmortizationOfDebtDiscountPremium 0us-gaap_AmortizationOfDebtDiscountPremium
Depreciation and amortization 4,558us-gaap_DepreciationAndAmortization 4,043us-gaap_DepreciationAndAmortization
Interest income on notes receivable from shareholders and officer 0vggl_InterestIncomeonNotesReceivableFromShareholdersandExecutiveOfficer (86)vggl_InterestIncomeonNotesReceivableFromShareholdersandExecutiveOfficer
Changes in operating assets and liabilities:    
Accounts receivable, net 1,087us-gaap_IncreaseDecreaseInAccountsReceivable (488)us-gaap_IncreaseDecreaseInAccountsReceivable
Other receivables (400)us-gaap_IncreaseDecreaseInOtherReceivables (49)us-gaap_IncreaseDecreaseInOtherReceivables
Prepaid expenses 74us-gaap_IncreaseDecreaseInPrepaidExpense (1,169)us-gaap_IncreaseDecreaseInPrepaidExpense
Restricted cash 5,005us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities 0us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities
Other assets 42us-gaap_IncreaseDecreaseInOtherOperatingAssets (103)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Deferred revenue (677)us-gaap_IncreaseDecreaseInDeferredRevenue 4,852us-gaap_IncreaseDecreaseInDeferredRevenue
Accounts payable and accrued expenses 2,722us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (3,501)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Reward points liability 3,029vggl_IncreaseDecreaseinPointsLiability (2,656)vggl_IncreaseDecreaseinPointsLiability
Other 15us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 49us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash used in operating activities (17,627)us-gaap_NetCashProvidedByUsedInOperatingActivities (20,219)us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing activities:    
Cash paid for acquisitions, net of cash acquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (647)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Purchase of property and equipment (113)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (178)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Capitalized software costs (342)us-gaap_PaymentsForSoftware (821)us-gaap_PaymentsForSoftware
Net cash used in investing activities (455)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,646)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing activities:    
Proceeds from loans 31,150us-gaap_ProceedsFromLoans 23,500us-gaap_ProceedsFromLoans
Repayments on loans (22,000)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Sale of Class C Convertible Redeemable Preferred Stock 10,000us-gaap_ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock 0us-gaap_ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
Repayment of Recapitalization Note from Executive Officer 0us-gaap_RepaymentOfNotesReceivableFromRelatedParties 3,646us-gaap_RepaymentOfNotesReceivableFromRelatedParties
Term loan agreement security interest 0us-gaap_PaymentsForDepositsAppliedToDebtRetirements (5,000)us-gaap_PaymentsForDepositsAppliedToDebtRetirements
Purchase of common shares from former officer (360)us-gaap_PaymentsForRepurchaseOfCommonStock (195)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided by financing activities 18,790us-gaap_NetCashProvidedByUsedInFinancingActivities 21,951us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase in cash 708us-gaap_CashPeriodIncreaseDecrease 86us-gaap_CashPeriodIncreaseDecrease
Cash at beginning of period 7us-gaap_Cash 1,359us-gaap_Cash
Cash at end of period 715us-gaap_Cash 1,445us-gaap_Cash
Supplemental cash flow Information:    
Cash paid during the period for interest 999us-gaap_InterestPaid 426us-gaap_InterestPaid
Non-Cash investing activities:    
Landlord lease incentive build-out allowance $ 449vggl_LeaseIncentiveBuildoutAllowance $ 0vggl_LeaseIncentiveBuildoutAllowance

Source