XML 46 R35.htm IDEA: XBRL DOCUMENT v3.6.0.2
NOTES PAYABLE - NARRATIVE (Details)
1 Months Ended 3 Months Ended 9 Months Ended
Dec. 22, 2016
USD ($)
$ / shares
shares
Apr. 29, 2015
USD ($)
$ / shares
shares
Oct. 17, 2013
USD ($)
Feb. 28, 2013
USD ($)
Jul. 31, 2016
USD ($)
Apr. 30, 2015
USD ($)
Oct. 31, 2013
USD ($)
shares
Dec. 31, 2016
USD ($)
installments
$ / shares
shares
Dec. 31, 2015
USD ($)
shares
Dec. 31, 2016
USD ($)
tranche
installments
$ / shares
shares
Dec. 31, 2015
USD ($)
shares
Jul. 14, 2016
USD ($)
shares
Jun. 30, 2016
USD ($)
May 31, 2016
USD ($)
Mar. 31, 2016
USD ($)
$ / 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 1,200,000.0 1,200,000.0 1,200,000.0        
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           $ 5,000,000.0                  
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                           $ 22,000,000.0  
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%