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Strategic Investments | 3 Months Ended
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Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Strategic Investments | NOTE 6: STRATEGIC INVESTMENTS Cash Converters International Limited On October 1, 2021, we purchased an additional 13 million shares of Cash Converters International Limited ("Cash Converters") for $2.5 million. This purchase increased our total ownership in Cash Converters to 236,702,991 shares, representing a 37.72% ownership interest. Additionally, on October 14, 2021, we received a cash dividend of $1.7 million from Cash Converters. The following tables present summary financial information for Cash Converters most recently reported results at June 30, 2021 after translation to U.S. dollars:
| June 30,
(in thousands) | 2021 |  | 2020
Current assets | $ | 167,553 |  |  | $ | 157,183 |
Non-current assets | 191,788 |  |  | 172,833 |
Total assets | $ | 359,341 |  |  | $ | 330,016 |
Current liabilities | $ | 61,395 |  |  | $ | 68,028 |
Non-current liabilities | 57,511 |  |  | 51,275 |
Shareholders’ equity | 240,435 |  |  | 210,713 |
Total liabilities and shareholders’ equity | $ | 359,341 |  |  | $ | 330,016 |
| Half-Year Ended June 30,
(in thousands) | 2021 |  | 2020
Gross revenues | $ | 150,165 |  |  | $ | 187,025 |
Gross profit | 105,851 |  |  | 112,511 |
Net profit (loss) | 12,081 |  |  | (7,032) |
See Note 7 for the fair value and carrying value of our investment in Cash Converters. Founders One, LLC On October 6, 2021, the Company invested $15.0 million in exchange for a non-redeemable voting participating preferred equity interest in Founders One, LLC (“Founders”), a newly-formed entity with one other member. Founders used that $15.0 million to acquire an equity interest in Simple Management Group, Inc. (“SMG”) which owns and operates more than 20 pawn stores principally in the Caribbean region, with plans to build and acquire more stores in that region. The investment in Founders is a variable interest entity but for which the Company is not the primary beneficiary and, therefore, is not consolidated. Further, as we are not the appointed manager, we do not have the ability to direct the activities of the investment entity that most significantly impact its economic performance. This investment in Founders is accounted for utilizing the measurement alternative within ASC 321, Investments — Equity Securities. Our $15.0 million carrying value of the investment is included in “Other Investments” in our consolidated balance sheets. The Company’s maximum exposure for losses in this investment is its contributed investment of $15.0 million. See Note 7 for the fair value and carrying value of our investment in Founders.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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