XML 20 R9.htm IDEA: XBRL DOCUMENT
v3.20.2

Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net | 3 Months Ended
--- | ---
Sep. 30, 2020
Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net [Abstract] |
Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net | 2. Accounts receivable, net and other receivables and finance loans receivable, net Accounts receivable, net and other receivables The Company’s accounts receivable, net, and other receivables as of September 30, 2020, and June 30, 2020, are presented in the table below:
|  |  |  |  | September 30, |  | June 30, |
|  |  |  |  | 2020 |  |  | 2020 |
| Accounts receivable, trade, net | $ |  | 12,567 |  |  | $ |  | 8,458 |
| Accounts receivable, trade, gross |  |  | 12,853 |  |  |  |  | 8,711 |
| Allowance for doubtful accounts receivable, end of period |  |  | 286 |  |  |  |  | 253 |
|  | Beginning of period |  |  | 253 |  |  |  |  | 661 |
|  | Reversed to statement of operations |  |  | - |  |  |  |  | (155) |
|  | Charged to statement of operations |  |  | 32 |  |  |  |  | 181 |
|  | Utilized |  |  | (6) |  |  |  |  | (151) |
|  | Deconsolidation |  |  | - |  |  |  |  | (178) |
|  | Foreign currency adjustment |  |  | 7 |  |  |  |  | (105) |
| Taxes refundable related to sale of Net1 Korea |  |  | - |  |  |  |  | 19,796 |
| Loans provided to Carbon |  |  | 3,000 |  |  |  |  | 3,000 |
| Current portion of amount outstanding related to sale of remaining interest in DNI |  |  | 3,916 |  |  |  |  | 2,756 |
| Other receivables |  |  | 8,831 |  |  |  |  | 9,058 |
|  | Total accounts receivable, net and other receivables | $ |  | 28,314 |  |  | $ |  | 43,068 |
In January 2020, the Company agreed that the purchaser of Net1 Korea would withhold potential capital gains taxes of approximately $19.8 million (KRW 23.8 billion) from the Net1 Korea transaction price and pay such amounts, on behalf of Net1 BV, to the South Korean tax authorities. Net1 BV commenced a process to claim a refund from the South Korean tax authorities of the potential amount withheld and received this amount of approximately $20.1 million (KRW 23.8 billion) in September 2020. On October 26, 2020, DNI settled the full amount outstanding related to sale of the remaining interest in DNI, including the $1.6 million included in other long-term assets, refer to Note 5. Other receivables include prepayments, deposits and other receivables. 2. Accounts receivable, net and other receivables and finance loans receivable, net (continued) Finance loans receivable, net The Company’s finance loans receivable, net, as of September 30, 2020, and June 30, 2020, is presented in the table below:
|  |  |  |  | September 30, |  | June 30, |
|  |  |  |  | 2020 |  | 2020
| Microlending finance loans receivable, net | $ |  | 20,508 |  |  | $ |  | 15,879 |
| Microlending finance loans receivable, gross |  |  | 22,785 |  |  |  |  | 17,737 |
| Allowance for doubtful finance loans receivable, end of period |  |  | 2,277 |  |  |  |  | 1,858 |
|  | Beginning of period |  |  | 1,858 |  |  |  |  | 3,199 |
|  | Reversed to statement of operations |  |  | - |  |  |  |  | (492) |
|  | Charged to statement of operations |  |  | 486 |  |  |  |  | 1,211 |
|  | Utilized |  |  | (119) |  |  |  |  | (1,451) |
|  | Foreign currency adjustment |  |  | 52 |  |  |  |  | (609) |
| Working capital finance loans receivable, gross |  |  | 5,800 |  |  |  |  | 5,800 |
| Allowance for doubtful finance loans receivable, end of period |  |  | 5,800 |  |  |  |  | 5,800 |
|  | Beginning of period |  |  | 5,800 |  |  |  |  | 5,800 |
|  | Total accounts receivable, net | $ |  | 20,508 |  |  | $ |  | 15,879 |
Gross microlending finance loans receivable as of September 30, 2020, increased compared to June 30, 2020, following subdued lending activity due to COVID-19 restrictions in April and early May 2020. The Company was unable to originate any significant loans in April and early May 2020.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_NotesReceivableNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration