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FINANCIAL INFORMATION BY BUSINESS SEGMENT
 12 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
NOTE 17. FINANCIAL INFORMATION BY BUSINESS SEGMENT

The Company manages the following business segments:

1.
Investment management services, by which the Company offers, through USGIF, offshore clients, and an ETF client a range of investment management products and services to meet the needs of individual and institutional investors;

2.
Investment management services - Canada, through which, as of June 1, 2014, the Company owns a 65% controlling interest in Galileo, a privately held Toronto-based asset management firm which offers investment management products and services in Canada; and

3.
Corporate investments, through which the Company invests for its own account in an effort to add growth and value to its cash position. Although the Company generates the majority of its revenues from its investment advisory segments, the Company holds a significant amount of its total assets in investments.

The following schedule details total revenues and income by business segment and certain amounts have been reclassified for comparative purposes:

 
 
(dollars in thousands)
  
Investment
Management
Services
    
Investment
Management
Services - Canada
    
 
Corporate
Investments
    
 
 
Consolidated
  
Year ended June 30, 2016
                        
Net operating revenues
  
$
4,341
    
$
1,164
    
$
-
    
$
5,505
  
Net other income
  
$
-
    
$
35
    
$
450
    
$
485
  
Income (loss) from continuing operations before income taxes
  
$
(4,018
)
  
$
(122
)
  
$
449
    
$
(3,691
)
Loss from discontinued operations
  
$
(18
)
  
$
-
    
$
-
    
$
(18
)
Depreciation and amortization
  
$
255
    
$
61
    
$
-
    
$
316
  
Capital expenditures
  
$
13
    
$
-
    
$
-
    
$
13
  
Gross identifiable assets at June 30, 2016
  
$
5,973
    
$
1,618
    
$
18,755
    
$
26,346
  
Deferred tax asset
                          
$
-
  
Consolidated total assets at June 30, 2016
                          
$
26,346
  
Year ended June 30, 2015
                                
Net operating revenues
  
$
5,326
    
$
2,007
    
$
-
    
$
7,333
  
Net other income
  
$
-
    
$
102
    
$
332
    
$
434
  
Income (loss) from continuing operations before income taxes
  
$
(3,473
)
  
$
111
    
$
289
    
$
(3,073
)
Loss from discontinued operations
  
$
(81
)
  
$
-
    
$
-
    
$
(81
)
Depreciation and amortization
  
$
253
    
$
74
    
$
-
    
$
327
  
Capital expenditures
  
$
40
    
$
-
    
$
-
    
$
40
  
Year ended June 30, 2014
                                
Net operating revenues
  
$
8,300
    
$
234
    
$
-
    
$
8,534
  
Net other income (loss)
  
$
-
    
$
(12
)
  
$
2,177
    
$
2,165
  
Income (loss) from continuing operations before income taxes
  
$
(3,301
)
  
$
19
    
$
2,170
    
$
(1,112
)
Loss from discontinued operations
  
$
(326
)
  
$
-
    
$
-
    
$
(326
)
Depreciation and amortization
  
$
252
    
$
7
    
$
-
    
$
259
  
Capital expenditures
  
$
30
    
$
-
    
$
-
    
$
30
  

Net operating revenues from investment management services include revenues from USGIF of $4.0 million; $5.2 million; and $8.1 million in fiscal years 2016, 2015, and 2014, respectively. The loss from discontinued operations in investment management services includes revenues from USGIF of $608,000; $2.0 million; and $3.4 million in fiscal years 2016, 2015, and 2014, respectively.

Net operating revenues from investment management services in Canada includes revenues from Galileo funds of $900,000; $1.6 million; and $184,000 in fiscal years 2016, 2015, and 2014, respectively, and other significant advisory clients of $254,000; $354,000; and $48,000 in fiscal years 2016, 2015, and 2014, respectively.