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FINANCIAL INFORMATION BY BUSINESS SEGMENT

12 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 17. FINANCIAL INFORMATION BY BUSINESS SEGMENT

The Company manages the following business segments on a continuing operations basis:

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

2. Corporate investments, through which the Company invests 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				Corporate Investments				Consolidated
Year ended June 30, 2020
Net operating revenues		$	4,476			$	-			$	4,476
Investment loss		$	-			$	(2,211	)		$	(2,211	)
Loss from equity method investments		$	-			$	(142	)		$	(142	)
Other income		$	117			$	-			$	117
Loss from continuing operations before income taxes		$	(2,071	)		$	(2,568	)		$	(4,639	)
Depreciation and amortization		$	202			$	-			$	202
Gross identifiable assets at June 30, 2020		$	5,654			$	13,162			$	18,816
Deferred tax asset										$	-
Consolidated total assets at June 30, 2020										$	18,816
Year ended June 30, 2019
Net operating revenues		$	3,459			$	-			$	3,459
Investment loss		$	-			$	(1,582	)		$	(1,582	)
Income from equity method investments		$	-			$	23			$	23
Other income		$	47			$	-			$	47
Loss from continuing operations before income taxes		$	(2,444	)		$	(1,825	)		$	(4,269	)
Depreciation and amortization		$	201			$	13			$	214

Net operating revenues from investment management services include revenues from USGIF of $2.7 million and $2.9 million in fiscal years 2020 and 2019, respectively. Net operating revenues from investment management services also include operating revenues from ETF clients of $1.7 million and $588,000 in fiscal years 2020 and 2019, respectively.

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- References

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- 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

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