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Segment Reporting (Tables)

9 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Operating Financial Results of Our Operating Segment

The following tables provide the operating financial results of our operating segments for the three and nine months ended March 31, 2026 and March 31, 2025:

	For the three months ended March 31, 2026
(in thousands)	Alternative Credit				Real Estate				Total Segments				Corporate & Other				Total
Revenues	$	1,545			$	1,873			$	3,418			$	-			$	3,418
Cost of revenues		-				-				-				-				-
Operating expenses:
Compensation and benefits		1,643				2,850				4,493				814				5,307
Depreciation and amortization		-				251				251				62				313
Selling, general and administrative		313				558				871				897				1,768
Non-operating income/(expenses):
Dividends and interest income		-				7				7				1,159				1,166
Interest expense		-				-				-				(1,033	)			(1,033	)
Net realized and unrealized loss		-				-				-				(9,873	)			(9,873	)
Net realized and unrealized gain on investments of Consolidated Funds		-				-				-				94				94
Interest and other income of Consolidated Funds		-				-				-				183				183
Loss before income taxes		(411	)			(1,779	)			(2,190	)			(11,243	)			(13,433	)
Income tax benefit (expense)		-				27				27				(114	)			(87	)
Net loss	$	(411	)		$	(1,752	)		$	(2,163	)		$	(11,357	)		$	(13,520	)

	For the three months ended March 31, 2025
(in thousands)	Alternative Credit				Real Estate				Total Segments				Corporate & Other				Total
Revenues	$	1,768			$	1,441			$	3,209			$	-			$	3,209
Cost of revenues		-				(11	)			(11	)			-				(11	)
Operating expenses:
Compensation and benefits		1,596				1,592				3,188				813				4,001
Depreciation and amortization		71				290				361				-				361
Selling, general and administrative		250				595				845				568				1,413
Non-operating income/(expenses):
Dividends and interest income		-				-				-				1,481				1,481
Interest expense		-				-				-				(1,039	)			(1,039	)
Net realized and unrealized loss		-				-				-				(2,439	)			(2,439	)
Net realized and unrealized loss on investments of Consolidated Funds		-				-				-				(338	)			(338	)
Interest and other income of Consolidated Funds		-				-				-				389				389
Loss before income taxes		(149	)			(1,025	)			(1,174	)			(3,327	)			(4,501	)
Income tax expense		-				-				-				-				-
Net loss	$	(149	)		$	(1,025	)		$	(1,174	)		$	(3,327	)		$	(4,501	)

	For the nine months ended March 31, 2026
(in thousands)	Alternative Credit				Real Estate				Total Segments				Corporate & Other				Total
Revenues	$	4,619			$	12,598			$	17,217			$	-			$	17,217
Cost of revenues		-				6,764				6,764				-				6,764
Operating expenses:
Compensation and benefits		4,648				8,350				12,998				2,465				15,463
Depreciation and amortization		138				767				905				62				967
Selling, general and administrative		1,246				1,799				3,045				2,907				5,952
Non-operating income/(expenses):
Dividends and interest income		-				48				48				3,678				3,726
Interest expense		-				-				-				(3,083	)			(3,083	)
Net realized and unrealized loss		-				-				-				(24,095	)			(24,095	)
Net realized and unrealized loss on investments of Consolidated Funds		-				-				-				(3,315	)			(3,315	)
Interest and other income of Consolidated Funds		-				-				-				828				828
Loss before income taxes		(1,413	)			(5,034	)			(6,447	)			(31,421	)			(37,868	)
Income tax expense		-				(89	)			(89	)			(15	)			(104	)
Net loss	$	(1,413	)		$	(5,123	)		$	(6,536	)		$	(31,436	)		$	(37,972	)

	For the nine months ended March 31, 2025
(in thousands)	Alternative Credit				Real Estate				Total Segments				Corporate & Other				Total
Revenues	$	6,233			$	4,475			$	10,708			$	-			$	10,708
Cost of revenues		-				1,082				1,082				-				1,082
Operating expenses:
Compensation and benefits		4,688				3,908				8,596				2,393				10,989
Depreciation and amortization		204				714				918				-				918
Selling, general and administrative		941				985				1,926				2,321				4,247
Non-operating income/(expenses):
Dividends and interest income		-				-				-				4,606				4,606
Interest expense		-				-				-				(3,097	)			(3,097	)
Net realized and unrealized gain		-				-				-				3,767				3,767
Net realized and unrealized loss on investments of Consolidated Funds		-				-				-				(89	)			(89	)
Interest and other income of Consolidated Funds		-				-				-				1,168				1,168
Income (loss) before income taxes		400				(2,214	)			(1,814	)			1,641				(173	)
Income tax expense		-				-				-				-				-
Net income (loss)	$	400			$	(2,214	)		$	(1,814	)		$	1,641			$	(173	)

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

+ Details

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