XML 28 R19.htm IDEA: XBRL DOCUMENT
v3.19.1

FINANCIAL INFORMATION BY BUSINESS SEGMENT | 9 Months Ended
--- | ---
Mar. 31, 2019
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | NOTE 11. FINANCIAL INFORMATION BY BUSINESS SEGMENT The Company operates principally in three business segments: providing investment management services to USGIF, offshore clients and ETF clients; 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 |
Nine months ended March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 2,694 |  |  | $ | 1,299 |  |  | $ | - |  |  | $ | 3,993 |
Investment income (loss) |  | $ | - |  |  | $ | 23 |  |  | $ | (2,231 | ) |  | $ | (2,208 | )
Loss from equity method investments |  | $ | - |  |  | $ | - |  |  | $ | (52 | ) |  | $ | (52 | )
Other income |  | $ | 27 |  |  | $ | 39 |  |  | $ | - |  |  | $ | 66 |
Income (loss) before income taxes |  | $ | (1,837 | ) |  | $ | 149 |  |  | $ | (2,395 | ) |  | $ | (4,083 | )
Depreciation and amortization |  | $ | 164 |  |  | $ | 7 |  |  | $ | - |  |  | $ | 171 |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Gross identifiable assets at March 31, 2019 |  | $ | 5,231 |  |  | $ | 1,804 |  |  | $ | 16,875 |  |  | $ | 23,910 |
Deferred tax asset |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | - |
Consolidated total assets at March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 23,910 |
Nine months ended March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 3,684 |  |  | $ | 1,216 |  |  | $ | - |  |  | $ | 4,900 |
Investment income |  | $ | - |  |  | $ | - |  |  | $ | 727 |  |  | $ | 727 |
Income from equity method investments |  | $ | - |  |  | $ | - |  |  | $ | 1,804 |  |  | $ | 1,804 |
Other income |  | $ | 14 |  |  | $ | 12 |  |  | $ | - |  |  | $ | 26 |
Income (loss) before income taxes |  | $ | (1,455 | ) |  | $ | 270 |  |  | $ | 2,524 |  |  | $ | 1,339 |
Depreciation and amortization |  | $ | 174 |  |  | $ | 9 |  |  | $ | - |  |  | $ | 183 |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Three months ended March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 857 |  |  | $ | 114 |  |  | $ | - |  |  | $ | 971 |
Investment income (loss) |  | $ | - |  |  | $ | (6 | ) |  | $ | 2,100 |  |  | $ | 2,094 |
Income from equity method investments |  | $ | - |  |  | $ | - |  |  | $ | 3 |  |  | $ | 3 |
Other income |  | $ | 7 |  |  | $ | 33 |  |  | $ | - |  |  | $ | 40 |
Income (loss) before income taxes |  | $ | (627 | ) |  | $ | (184 | ) |  | $ | 2,064 |  |  | $ | 1,253 |
Depreciation and amortization |  | $ | 54 |  |  | $ | 2 |  |  | $ | - |  |  | $ | 56 |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Three months ended March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 1,171 |  |  | $ | 246 |  |  | $ | - |  |  | $ | 1,417 |
Investment income |  | $ | - |  |  | $ | - |  |  | $ | 275 |  |  | $ | 275 |
Loss from equity method investments |  | $ | - |  |  | $ | - |  |  | $ | (927 | ) |  | $ | (927 | )
Other income |  | $ | 7 |  |  | $ | 2 |  |  | $ | - |  |  | $ | 9 |
Income (loss) before income taxes |  | $ | (1,856 | ) |  | $ | (35 | ) |  | $ | 658 |  |  | $ | (1,233 | )
Depreciation and amortization |  | $ | 58 |  |  | $ | 3 |  |  | $ | - |  |  | $ | 61 |
Capital expenditures |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Net operating revenues from investment management services includes operating revenues from USGIF of $720,000 and $2.2 million, respectively, for the three and nine months ended March 31, 2019, and $1.0 million and $3.1 million, respectively, for the three and nine months ended March 31, 2018. Net operating revenues from investment management services also include operating revenues from ETF clients of $137,000 and $456,000, respectively, for the three and nine months ended March 31, 2019, and $165,000 and $534,000, respectively, for the three and nine months ended March 31, 2018. Net operating revenues from investment management services in Canada includes revenues from Galileo funds of $114,000 and $1.3 million, respectively, for the three and nine months ended March 31, 2019, and $243,000 and $1.2 million, respectively, for the three and nine months ended March 31, 2018.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration