XML 29 R16.htm IDEA: XBRL DOCUMENT v3.3.1.900
FINANCIAL INFORMATION BY BUSINESS SEGMENT
 6 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
 NOTE 10. FINANCIAL INFORMATION BY BUSINESS SEGMENT

The Company operates principally in three business segments: providing investment management services to USGIF, offshore clients and an ETF client, investment management services in Canada, 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:

 
(dollars in thousands)
 
Investment
Management Services
     
Investment Management
Services - Canada
     
Corporate Investments
   
Consolidated
 
Six months ended December 31, 2015                            
Net operating revenues
  $ 1,916   1   $ 623   2   $ -     $ 2,539  
Net other income
  $ -       $ -       $ 263     $ 263  
Income (loss) from continuing operations before income taxes
  $ (3,216 )     $ (89 )     $ 257     $ (3,048 )
Loss from discontinued operations
  $ (18 )     $ -       $ -     $ (18 )
Depreciation and amortization
  $ 128       $ 32       $ -     $ 160  
Capital expenditures
  $ 13       $ -       $ -     $ 13  
Gross identifiable assets at December 31, 2015
  $ 5,224       $ 1,607       $ 20,403     $ 27,234  
Deferred tax asset
                              $ -  
Consolidated total assets at December 31, 2015
                              $ 27,234  
Six months ended December 31, 2014
                                   
Net operating revenues
  $ 3,304   1   $ 1,181   2   $ -     $ 4,485  
Net other income
  $ -       $ -       $ 273     $ 273  
Income (loss) from continuing operations before income taxes
  $ (1,206 )     $ 43       $ 270     $ (893 )
Loss from discontinued operations
  $ (42 )     $ -       $ -     $ (42 )
Depreciation
  $ 126       $ 38       $ -     $ 164  
Capital expenditures
  $ 40       $ -       $ -     $ 40  
Three months ended December 31, 2015
                                   
Net operating revenues
  $ 996   3   $ 293   4   $ -     $ 1,289  
Net other loss
  $ -       $ -       $ (271 )   $ (271 )
Income (loss) from continuing operations before income taxes
  $ (1,873 )     $ (44 )     $ (270 )   $ (2,187 )
Loss from discontinued operations
  $ (25 )     $ -       $ -     $ (25 )
Depreciation and amortization
  $ 64       $ 16       $ -     $ 80  
Capital expenditures
  $ 8       $ -       $ -     $ 8  
Three months ended December 31, 2014
                                   
Net operating revenues
  $ 1,339   3   $ 519   4   $ -     $ 1,858  
Net other income
  $ -       $ -       $ 53     $ 53  
Income (loss) from continuing operations before income taxes
  $ (810 )     $ (25 )     $ 51     $ (784 )
Loss from discontinued operations
  $ (54 )     $ -       $ -     $ (54 )
Depreciation
  $ 63       $ 18       $ -     $ 81  
Capital expenditures
  $ 5       $ -       $ -     $ 5  

1  
Includes operating revenues from USGIF of $1,730 and $3,226 for the six months ended December 31, 2015, and December 31, 2014, respectively.

2  
Includes operating revenues from Galileo mutual funds of $496 and $975 for the six months ended December 31, 2015, and December 31, 2014, respectively.

3  
Includes operating revenues from USGIF of $902 and $1,308 for the three months ended December 31, 2015, and December 31, 2014, respectively.

4  
Includes operating revenues from Galileo mutual funds of $229 and $430 for the three months ended December 31, 2015, and December 31, 2014, respectively.