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FINANCIAL INFORMATION BY BUSINESS SEGMENT (Tables) | 3 Months Ended
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Sep. 30, 2013
Segment Reporting [Abstract] |
Schedule Details of Financial Information by Business Segment | The Company operates principally in two business segments: providing investment management services to the funds it manages and investing for its own account in an effort to add growth and value to its cash position. The following schedule details total revenues and income by business segment:
|  | Investment Management Services |  |  | Corporate Investments |  |  | Consolidated |
Three months ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 3,052,001 |  |  | $ | - |  |  | $ | 3,052,001 |
Net other income |  | $ | - |  |  | $ | 1,053,462 |  |  | $ | 1,053,462 |
Income (loss) from continuing operations before income taxes |  | $ | (1,076,236 | ) |  | $ | 1,053,462 |  |  | $ | (22,774 | )
Loss from discontinued operations |  | $ | (28,645 | ) |  | $ | - |  |  | $ | (28,645 | )
Net income (loss) |  | $ | (1,090,680 | ) |  | $ | 1,053,267 |  |  | $ | (37,413 | )
Depreciation |  | $ | 64,452 |  |  | $ | - |  |  | $ | 64,452 |
Interest expense |  | $ | - |  |  | $ | - |  |  | $ | - |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |
Gross identifiable assets at September 30, 2013 |  | $ | 23,862,044 |  |  | $ | 13,806,572 |  |  | $ | 37,668,616 |
Deferred tax asset |  |  |  |  |  |  |  |  |  | $ | 668,352 |
Consolidated total assets at September 30, 2013 |  |  |  |  |  |  |  |  |  | $ | 38,336,968 |
Three months ended September 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 4,412,542 |  |  | $ | - |  |  | $ | 4,412,542 |
Net other income |  | $ | - |  |  | $ | 200,651 |  |  | $ | 200,651 |
Income (loss) from continuing operations before income taxes |  | $ | (44,086 | ) |  | $ | 200,651 |  |  | $ | 156,565 |
Loss from discontinued operations |  | $ | (44,239 | ) |  | $ | - |  |  | $ | (44,239 | )
Net income (loss) |  | $ | (150,810 | ) |  | $ | 199,610 |  |  | $ | 48,800 |
Depreciation |  | $ | 68,747 |  |  | $ | - |  |  | $ | 68,747 |
Interest expense |  | $ | - |  |  | $ | - |  |  | $ | - |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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