XML 29 R20.htm IDEA: XBRL DOCUMENT v3.20.2
FINANCIAL INFORMATION BY BUSINESS SEGMENT
 3 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 12. FINANCIAL INFORMATION BY BUSINESS SEGMENT


The Company operates principally in two business segments on a continuing operations basis: providing investment management services to USGIF and ETF clients; and investing for its own account in an effort to add growth and value to its cash position. The former segment of investment management services in Canada is discussed in Note 2, Discontinued Operations. The following schedule details total revenues and income for continuing operations by business segment:


(dollars in thousands)

  

Investment Management Services

    

Corporate Investments

    

Consolidated

  

Three months ended September 30, 2020

                        

Net operating revenues

   $ 3,245     $ -     $ 3,245  

Investment income

   $ -     $ 998     $ 998  

Income from equity method investments

   $ -     $ 21     $ 21  

Other income

   $ 18     $ -     $ 18  

Income from continuing operations before income taxes

   $ 1,002     $ 972     $ 1,974  

Depreciation and amortization

   $ 49     $ -     $ 49  

Gross identifiable assets at September 30, 2020

   $ 6,499     $ 14,290     $ 20,789  

Deferred tax asset

                   $ -  

Consolidated total assets at September 30, 2020

                   $ 20,789  

Three months ended September 30, 2019

                        

Net operating revenues

   $ 804     $ -     $ 804  

Investment loss

   $ -     $ (3,030 )   $ (3,030 )

Loss from equity method investments

   $ -     $ (27 )   $ (27 )

Other income

   $ 22     $ -     $ 22  

Loss from continuing operations before income taxes

   $ (587 )   $ (3,116 )   $ (3,703 )

Depreciation and amortization

   $ 48     $ 3     $ 51  

Net operating revenues from investment management services includes operating revenues from USGIF of $955,000 and $683,000 for the three months ended September 30, 2020, and 2019, respectively. Net operating revenues from investment management services also include operating revenues from ETF clients of $2.3 million and $121,000, respectively, for the three months ended September 30, 2020, and 2019, respectively.