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Inventory
12 Months Ended
Jun. 30, 2021
Inventory [Abstract]  
Inventory
4.
 
INVENTORY
 
 
The Company’s inventory
 
comprised the following categories as of June 30, 2021, and 2020.
June 30,
June 30,
2021
2020
Finished goods
 
$
22,361
$
15,618
Finished goods subject to sale restrictions
-
4,242
$
22,361
$
19,860
Finished goods subject to sale
 
restrictions represents airtime inventory
 
purchased in March 2020, that
 
could only be sold by the
Company from October 1, 2020. As of June 30, 2021, finished goods includes $
16.5
 
million of airtime inventory that was previously
classified
 
as
 
finished
 
goods
 
subject
 
to
 
sale
 
restr
ictions
.
 
 
4.
 
INVENTORY
 
(continued)
 
 
In support of Cell C’s liquidity position, the Company has limited the resale of this airtime through its distribution channels
 
until
such time as
 
Cell C’s
 
recapitalisation process
 
is concluded. In
 
light of the
 
dynamics in
 
the wholesale
 
airtime inventory
 
market as of
June
 
30,
 
2020,
 
the
 
Company
 
believed
 
the
 
net
 
realizable
 
value
 
of
 
certain
 
airtime
 
inventory
 
held
 
as
 
of
 
June
 
30,
 
2020,
 
measured
 
at
amounts reflecting
 
existing market conditions,
 
was below its cost.
 
Accordingly,
 
the Company recorded
 
a loss of $
1.3
 
million during
the year
 
ended June
 
30, 2020, related
 
to this airtime
 
inventory.
 
The Company
 
believes that
 
these market
 
dynamics in
 
the wholesale
airtime inventory market continue as of June 30, 2021, but no further
 
adjustment is necessary.