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DISCONTINUED OPERATIONS
 9 Months Ended
Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
NOTE 12. DISCONTINUED OPERATIONS

In December 2015, USGIF elected a new slate of trustees to the Board of Trustees of the Funds. The Company proposed the election of new trustees with the intention of streamlining the Company’s responsibilities, so it can better focus on strategic activities. The new Board of Trustees of USGIF adopted several new agreements. As anticipated, effective December 10, 2015, the Company, through its wholly-owned subsidiary, U.S. Global Brokerage, Inc., ceased to be the distributor for USGIF and no longer receives distribution fees and shareholder services fees from USGIF. Due to this transition, the Company is no longer responsible for paying certain distribution and shareholder servicing related expenses and will be reimbursed for certain distribution expenses from the new distributor for USGIF. As a result of this change, the Company filed Form BDW, the Uniform Request Withdrawal From Broker-Dealer Registration, with FINRA, which was approved in February 2016. This constitutes a strategic shift that has started to have, and will continue to have, a major effect on the Company’s operating revenues and expenses.

The distribution and shareholder services revenues and the expenses associated with certain distribution operations for USGIF are reflected as discontinued operations in the statement of operations and are, therefore, excluded from continuing operations results. Comparative periods shown in the Statement of Operations have been adjusted to conform with this presentation. These revenues and expenses were included in the investment management services segment in previous reporting periods.

The discontinued operations did not have depreciation, amortization, capital expenditures or significant non-cash operating and investing items.

The assets and liabilities related to distribution discontinued operations are as follows at March 31, 2016, and June 30, 2015:

(dollars in thousands)
 
March 31, 2016
   
June 30, 2015
 
Assets
           
Receivables
  $ -     $ 184  
Total assets held related to discontinued operations
  $ -     $ 184  
                 
Liabilities
               
Accounts payable
  $ -     $ 5  
Other accrued expenses
    -       129  
Total liabilities held related to discontinued operations
  $ -     $ 134  

The components of income from discontinued operations were as follows for the three and nine months ended March 31, 2016, and 2015:

    Nine Months Ended March 31,     Three Months Ended March 31,  
(dollars in thousands)
 
2016
   
2015
   
2016
   
2015
 
Revenues
                       
Distribution fees
  $ 425     $ 1,118     $ -     $ 299  
Shareholder services fees
    183       507       -       143  
      608       1,625       -       442  
                                 
Expenses
                               
Employee compensation and benefits
    188       411       -       120  
General and administrative
    77       135       -       47  
Platform fees
    347       963       -       269  
Advertising
    14       205       -       53  
      626       1,714       -       489  
Loss from Discontinued Operations Before Income Taxes
    (18 )     (89 )     -       (47 )
Tax expense (benefit)
    -       (1 )     -       (1 )
Loss from Discontinued Operations
  $ (18 )   $ (88 )   $ -     $ (46 )

Through December 9, 2015, USGIF paid the Company a distribution fee at an annual rate of 0.25 percent of the average daily net assets of the investor class of each of the equity funds. Effective December 10, 2015, the Company, through U.S. Global Brokerage, Inc., ceased to be the distributor for USGIF and no longer receives distribution fees directly from the Funds.

In addition, through December 9, 2015, the Company received shareholder servicing fees from USGIF based on the value of Fund assets held through broker-dealer platforms. Effective December 10, 2015, the Company ceased to be the distributor for USGIF and no longer receives shareholder services fees from the Funds.

Due to this transition, the Company is no longer responsible for paying the platform fees for the USGIF equity funds and will be reimbursed for certain distribution expenses from the new distributor for USGIF.