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Strategic Investments | 3 Months Ended
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Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Strategic Investments | NOTE 5: 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. On October 14, 2021, we received a cash dividend of $1.7 million from Cash Converters. On March 10, 2022, we purchased an additional 5.5 million shares of Cash Converters for $1.0 million. This purchase increased our total ownership in Cash Converters to 242,239,157 shares, representing a 38.60% ownership interest. On April 5, 2022, we acquired an additional 13 million shares for $2.5 million, bringing our total ownership to 255,239,157 shares, representing an ownership interest of 40.67%. On April 14, 2022, we received a cash dividend of $1.7 million from Cash Converters. On September 15, 2022, we acquired an additional 5.7 million shares for $0.9 million, bringing our total ownership to 260,939,157 shares, representing an ownership interest of 41.6%. On November 2, 2022, we purchased an additional 13 million shares of Cash Converters for $2.1 million. This purchase increased our total ownership in Cash Converters to 273,939,157 shares, representing a 43.7% ownership interest. During November 2022, we received a cash dividend of $1.8 million from Cash Converters. The following tables present summary financial information for Cash Converters most recently reported results at June 30, 2022 after translation to U.S. dollars:
| June 30,
(in thousands) | 2022 |  | 2021
Current assets | $ | 158,987 |  |  | $ | 167,553 |
Non-current assets | 170,798 |  |  | 191,788 |
Total assets | $ | 329,785 |  |  | $ | 359,341 |
Current liabilities | $ | 59,256 |  |  | $ | 61,395 |
Non-current liabilities | 53,045 |  |  | 57,511 |
Shareholders’ equity | 217,484 |  |  | 240,435 |
Total liabilities and shareholders’ equity | $ | 329,785 |  |  | $ | 359,341 |
| Full-Year Ended June 30,
(in thousands) | 2022 |  | 2021
Gross revenues | $ | 178,215 |  |  | $ | 150,165 |
Gross profit | 116,106 |  |  | 105,851 |
Net profit | 8,099 |  |  | 12,081 |
See Note 6: Fair Value Measurements for the fair value and carrying value of our investment in Cash Converters. Founders One, LLC In October 2021, we invested $15.0 million in exchange for a non-redeemable voting participating preferred equity interest in Founders One, LLC (“Founders”), a then newly-formed entity with one other member. Founders used that $15.0 million to acquire an equity interest in Simple Management Group, Inc. (“SMG”). On December 2, 2022, we contributed an additional $15.0 million to Founders associated with our preferred interest, which proceeds were used by Founders to acquire additional common stock in SMG. In addition, we loaned $15.0 million to Founders in exchange for a Demand Promissory Note secured by the common interest in Founders held by the other member. We have an interest in Founders, a variable interest entity, but because the Company is not the primary beneficiary, we do not consolidate Founders. 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. Consequently, our equity investment in Founders is accounted for utilizing the measurement alternative within Accounting Standards Codification ("ASC") 321, Investments — Equity Securities. Our $30.0 million carrying value of the investment and $15.0 million Demand Promissory Note are included in “Other investments” and "Prepaid expenses and other current assets" in our consolidated balance sheets, respectively. Our maximum exposure for losses related to our investment in Founders is our $30.0 million equity investment and $15.0 million Demand Promissory Note plus accrued and unpaid interest. See Note 6: Fair Value Measurements for the fair values and carrying values of our investment in and loan to Founders, respectively.

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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 https://asc.fasb.org/topic&trid=2196965 + Details
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