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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Jun. 30, 2019
Related Party Transactions [Abstract] |
Related Party Transactions Disclosure [Text Block] | NOTE 17. RELATED PARTY TRANSACTIONS On June 30, 2019, and 2018, the Company had $8.8 million and $9.6 million, respectively, at fair value invested in USGIF funds the Company advised. These amounts were included in the Consolidated Balance Sheets as “investments in securities at fair value.” The Company recorded $181,000 and $131,000 in income from dividends and capital gain distributions and $23,000 and ($733,000) in net realized gains (losses) on its investments in the Funds and offshore clients for fiscal years 2019 and 2018, respectively. The offshore clients liquidated during fiscal 2018. In addition, the Company had $309,000 and $283,000 at June 30, 2019, and 2018, respectively, invested in funds advised by Galileo accounted for under the equity method of accounting. During fiscal year 2019 and 2018, the Company was invested in three separate funds advised by Galileo accounted for under the equity method of accounting. The Company recorded income from equity method investments of $23,000 and $1.6 million in fiscal years 2019 and 2018, respectively. See further discussion of these investments in Note 3. The Company earned advisory and administrative services fees, as applicable, from the various funds for which it and its subsidiaries act as investment adviser, as disclosed in Note 4. Receivables include amounts due from the funds for those fees and out-of-pocket expenses, net of amounts payable to the funds for expense reimbursements. As of June 30, 2019, and 2018, the Company had $371,000 and $419,000, respectively, of receivables from mutual funds included in the Consolidated Balance Sheets within “receivables.” Mr. Holmes was a director of each offshore fund until the liquidation of the offshore funds in fiscal year 2018. Mr. Holmes was also a director of Meridian Fund Managers Ltd., which served as the manager of the offshore funds. As discussed in Note 3, the Company purchased in fiscal year 2018 an investment in HIVE that was valued at approximately $3.6 million and $5.6 million as of June 30, 2019, and 2018, respectively. Frank Holmes, a director and Chief Executive Officer of the Company, is the non-executive chairman of HIVE, for which he received director fees from HIVE during fiscal years 2019 and 2018. Mr. Holmes held shares and options of HIVE at June 30, 2019, and 2018. Effective August 31, 2018, upon the retirement of HIVE’s CEO and until a new CEO is hired, Mr. Holmes became Interim Executive Chairman of HIVE. As discussed in Note 3, the Company holds an investment in Thunderbird that was valued at approximately $1.1 million and $1.5 million as of June 30, 2019, and 2018, respectively. Thunderbird was previously a private company that underwent a corporate transaction and started trading on an exchange during fiscal year 2019. Frank Holmes serves on the board of this company as a director, for which he receives fees, and held options at June 30, 2019, and 2018. The Company received $31,000 and $126,000 in dividend income from its investment in this company in fiscal years 2019 and 2018, respectively. As discussed in Note 3, the Company purchased in fiscal year 2019 an investment in GoldSpot that was valued at approximately $1.7 million as of June 30, 2019. Frank Holmes serves on the board of this company as independent chairman, for which he receives fees, and held common stock at June 30, 2019.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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