SEGMENT INFORMATION

We operate in two reportable segments: Cinema Equipment Business and Content & Entertainment Business, or CEG. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our CODM to evaluate performance, which is generally the segment's operating income (loss) before depreciation and amortization.



Operations of:	Products and services provided:
Cinema Equipment Business	Financing vehicles and administrators for 3,445 Systems installed nationwide in our first deployment phase (“Phase I Deployment”) to theatrical exhibitors and for 5,497 Systems installed domestically and internationally in our second deployment phase (“Phase II Deployment”). We retain ownership of the Systems and the residual cash flows related to the Systems in Phase I Deployment after the repayment of all non-recourse debt at the expiration of exhibitor master license agreements. For certain Phase II Deployment Systems, we do not retain ownership of the residual cash flows and digital cinema equipment in Phase II Deployment after the completion of cost recoupment and at the expiration of the exhibitor master license agreements. The Cinema Equipment Business also provides monitoring, collection, verification and management services to this segment, as well as to exhibitors who purchase their own equipment, and also collects and disburses VPFs from motion picture studios, distributors and ACFs from alternative content providers, movie exhibitors and theatrical exhibitors (collectively, “Services”).
Content & Entertainment Business	Leading distributor of independent content, and collaborates with producers and other content owners to market, source, curate and distribute independent content to targeted and profitable audiences in theatres and homes, and via mobile and emerging platforms.

The following tables present certain financial information related to our reportable segments and Corporate:



	As of June 30, 2019
(In thousands)	Intangible Assets, net		Goodwill		Total Assets		Notes Payable, Non-Recourse		Notes Payable		Operating lease liabilities
Cinema Equipment Business	$	57	$	—	$	41,439	$	14,857	$	—	$	924
Content & Entertainment Business	8,625		8,701		52,205		—		—		424
Corporate	9		—		4,558		—		43,017		911
Total	$	8,691	$	8,701	$	98,202	$	14,857	$	43,017	$	2,259



	As of March 31, 2019
(In thousands)	Intangible Assets, net		Goodwill		Total Assets		Notes Payable, Non-Recourse		Notes Payable		Operating lease liabilities
Cinema Equipment Business	$	69	$	—	$	42,958	$	19,132	$	—	$	—
Content & Entertainment Business	9,607		8,701		54,575		—		—		—
Corporate	10		—		4,350		—		43,319		—
Total	$	9,686	$	8,701	$	101,883	$	19,132	$	43,319	$	—



	Statements of Operations
	Three Months Ended June 30, 2019
	(Unaudited, in thousands)
	Cinema Equipment Business		Content & Entertainment Business			Corporate			Consolidated
Revenues	$	3,993	$	5,810		$	—		$	9,803
Direct operating (exclusive of depreciation and amortization shown below)	234		3,378			—			3,612
Selling, general and administrative	496		3,224			2,129			5,849
Allocation of corporate overhead	202		1,270			(1,472		)	—
Provision (recovery) for doubtful accounts	271		(1		)	—			270
Depreciation and amortization of property and equipment	1,646		86			42			1,774
Amortization of intangible assets	11		983			1			995
Total operating expenses	2,860		8,940			700			12,500
Income (loss) from operations	$	1,133	$	(3,130	)	$	(700	)	$	(2,697	)

Employee and director stock-based compensation expense related to the Company’s stock-based awards was $11 thousand for the three months ended June 30, 2019.



(In thousands)	Cinema Equipment Business		Content & Entertainment Business		Corporate		Consolidated
Direct operating	$	—	$	—	$	—	$	—
Selling, general and administrative	2		4		5		11
Total stock-based compensation	$	2	$	4	$	5	$	11



	Statements of Operations
	Three Months Ended June 30, 2018
	(Unaudited, in thousands)
	Cinema Equipment Business		Content & Entertainment Business			Corporate			Consolidated
Revenues	$	7,115	$	5,963		$	—		$	13,078
Direct operating (exclusive of depreciation and amortization shown below)	312		3,113			—			3,425
Selling, general and administrative	533		3,887			2,123			6,543
Allocation of Corporate overhead	399		1,038			(1,437		)	—
Provision (recovery) for doubtful accounts	176		(111		)	—			65
Depreciation and amortization of property and equipment	1,960		82			47			2,089
Amortization of intangible assets	12		1,382			1			1,395
Total operating expenses	3,392		9,391			734			13,517
Income (loss) from operations	$	3,723	$	(3,428	)	$	(734	)	$	(439	)

Employee and director stock-based compensation expense related to the Company’s stock-based awards was $0.1 million for the three months ended June 30, 2018.



(In thousands)	Cinema Equipment Business		Content & Entertainment Business		Corporate		Consolidated
Direct operating	$	—	$	—	$	—	$	—
Selling, general and administrative	—		—		86		86
Total stock-based compensation	$	—	$	—	$	86	$	86