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v3.22.2.2

Note 3 - Investments (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2022
Notes Tables |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
| June 30, 2022 |
|  |  |  |  | Significant |  |  | Significant |  |  |  |  |
|  |  |  |  | Other |  |  | Unobservable |  |  |  |  |
| Quoted Prices |  |  | Inputs |  |  | Inputs |  |  |  |  |
(dollars in thousands) | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
Investments carried at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments in equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equities - International | $ | 1,024 |  |  | $ | - |  |  | $ | 2,643 |  |  | $ | 3,667 |
Mutual funds - Fixed income |  | 12,138 |  |  |  | - |  |  |  | - |  |  |  | 12,138 |
Mutual funds - Global equity |  | 623 |  |  |  | - |  |  |  | - |  |  |  | 623 |
Total investments in equity securities: | $ | 13,785 |  |  | $ | - |  |  | $ | 2,643 |  |  | $ | 16,428 |
Investments in debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale - Convertible debentures |  | - |  |  |  | - |  |  |  | 11,449 |  |  |  | 11,449 |
Total investments carried at fair value on a recurring basis: | $ | 13,785 |  |  | $ | - |  |  | $ | 14,092 |  |  | $ | 27,877 |
Investments carried at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments1 | $ | - |  |  | $ | - |  |  | $ | 781 |  |  | $ | 781 |
| June 30, 2021 |
|  |  |  |  | Significant |  |  | Significant |  |  |  |  |
|  |  |  |  | Other |  |  | Unobservable |  |  |  |  |
| Quoted Prices |  |  | Inputs |  |  | Inputs |  |  |  |  |
(dollars in thousands) | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
Investments carried at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments in equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equities - International | $ | 2,837 |  |  | $ | 135 |  |  | $ | 8,026 |  |  | $ | 10,998 |
Mutual funds - Fixed income |  | 6,322 |  |  |  | - |  |  |  | - |  |  |  | 6,322 |
Mutual funds - Global equity |  | 938 |  |  |  | - |  |  |  | - |  |  |  | 938 |
Total investments in equity securities: | $ | 10,097 |  |  | $ | 135 |  |  | $ | 8,026 |  |  | $ | 18,258 |
Investments in debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale - Convertible debentures |  | - |  |  |  | - |  |  |  | 17,049 |  |  |  | 17,049 |
Total investments carried at fair value on a recurring basis: | $ | 10,097 |  |  | $ | 135 |  |  | $ | 25,075 |  |  | $ | 35,307 |
Investments carried at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments1 | $ | - |  |  | $ | - |  |  | $ | 2,554 |  |  | $ | 2,554 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis |
|  | June 30, 2022 |
|  | Investments in |  |  | Investments in |
(dollars in thousands) |  | equity securities |  |  | debt securities |
Beginning Balance |  | $ | 8,026 |  |  | $ | 17,049 |
Principal repayments |  |  | - |  |  |  | (3,000 | )
Amortization of day one premium |  |  | - |  |  |  | (331 | )
Accretion of bifurcation discount |  |  | - |  |  |  | 975 |
Total unrealized gains or losses included in: |  |  |  |  |  |  |  |
Investment Income (Loss) |  |  | (5,383 | ) |  |  | (348 | )
Other Comprehensive Income (Loss) |  |  | - |  |  |  | (2,896 | )
Ending Balance |  | $ | 2,643 |  |  | $ | 11,449 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
|  | June 30, 2022 |
(dollars in thousands) |  | Fair Value |  | Principal Valuation Techniques |  | Unobservable Inputs |
Investments in equity securities: |  |  |  |  |  |  |  |  |  |  |
Common share purchase warrants |  | $ | 2,643 |  | Option pricing model |  |  |  |  |  |
|  |  |  |  |  |  | Volatility |  |  | 104.3 | %
Investments in debt securities: |  |  |  |  |  |  |  |  |  |  |
Available-for-sale - Convertible debentures |  | $ | 11,449 |  | Binomial lattice model |  |  |  |  |  |
|  |  |  |  |  |  | Volatility |  |  | 111.5 | %
|  |  |  |  |  |  | Credit Adjusted Discount Rate |  |  | 4.7 | %
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] |
|  | June 30, 2022
(dollars in thousands) |  | Cost |  |  | Unrealized Gains (Losses) |  |  | Fair Value
Equity securities at fair value |  |  |  |  |  |  |  |  |  |  |
Equities - International |  | $ | 6,680 |  |  | $ | (3,013 | ) |  | $ | 3,667
Equities - Domestic |  |  | 45 |  |  |  | (45 | ) |  |  | -
Mutual funds - Fixed income |  |  | 12,313 |  |  |  | (175 | ) |  |  | 12,138
Mutual funds - Global equity |  |  | 929 |  |  |  | (306 | ) |  |  | 623
Total equity securities at fair value |  | $ | 19,967 |  |  | $ | (3,539 | ) |  | $ | 16,428
|  | June 30, 2021
(dollars in thousands) |  | Cost |  |  | Unrealized Gains (Losses) |  |  | Fair Value
Equity securities at fair value |  |  |  |  |  |  |  |  |  |  |
Equities - International |  | $ | 7,076 |  |  | $ | 3,922 |  |  | $ | 10,998
Equities - Domestic |  |  | 45 |  |  |  | (45 | ) |  |  | -
Mutual funds - Fixed income |  |  | 6,313 |  |  |  | 9 |  |  |  | 6,322
Mutual funds - Global equity |  |  | 929 |  |  |  | 9 |  |  |  | 938
Total equity securities at fair value |  | $ | 14,363 |  |  | $ | 3,895 |  |  | $ | 18,258
| June 30, 2022
(dollars in thousands) | Amortized Cost |  |  | Gross Unrealized Gains in Other Comprehensive Income |  |  | Gross Unrealized Losses in Investment Income (Loss) |  |  | Fair Value
Available-for-sale - Convertible debentures 1 | $ | 8,576 |  |  | $ | 5,412 |  |  | $ | (2,539 | ) |  | $ | 11,449
| June 30, 2021
(dollars in thousands) | Amortized Cost |  |  | Gross Unrealized Gains in Other Comprehensive Income |  |  | Gross Unrealized Losses in Investment Income (Loss) |  |  | Fair Value
Available-for-sale - Convertible debentures 1 | $ | 8,741 |  |  | $ | 8,308 |  |  | $ | - |  |  | $ | 17,049
| June 30, 2022
(dollars in thousands) | Amortized Cost |  |  | Gross Unrecognized Holding Gains |  |  | Gross Unrecognized Holding Losses |  |  | Fair Value
Held-to-maturity - Debentures1 | $ | 1,000 |  |  | $ | - |  |  | $ | (133 | ) |  | $ | 867
| June 30, 2021
(dollars in thousands) | Amortized Cost |  |  | Gross Unrecognized Holding Gains |  |  | Gross Unrecognized Holding Losses |  |  | Fair Value
Held-to-maturity - Debentures1 | $ | 1,000 |  |  | $ | 3 |  |  | $ | - |  |  | $ | 1,003
Investments Classified by Contractual Maturity Date [Table Text Block] |
|  | June 30, 2022
|  | Available-for-sale |  |  | Held-to-maturity
|  | debt securities |  |  | debt securities
|  | Convertible |  |  | Due after one year
(dollars in thousands) |  | debentures 1 |  |  | through five years
Net Carrying Amount |  | $ | 8,576 |  |  | $ | 1,000
Fair Value |  | $ | 11,449 |  |  | $ | 867
Schedule of Derivative Instruments [Table Text Block] |
| June 30, 2022 |  |  | June 30, 2021
| Other Assets |  |  | Other Assets
(dollars in thousands) | Investments in available-for-sale debt securities |  |  | Investments in available-for-sale debt securities
Embedded Derivatives: |  |  |  |  |  |
Equity price risk exposure | $ | 3 |  |  | $ | 2,542
| Year Ended June 30,
| 2022 |  |  | 2021
| Other Income (Loss) |  |  | Other Income (Loss)
(dollars in thousands) | Investment Income (Loss) |  |  | Investment Income (Loss)
Embedded Derivatives: |  |  |  |  |  |
Equity price risk exposure | $ | (2,539 | ) |  | $ | -
Equity Securities without Readily Determinable Fair Value [Table Text Block] |
|  | Year Ended June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Other Investments |  |  |  |  |  |  |  |
Carrying value |  | $ | 3,992 |  |  | $ | 3,453 |
Upward carrying value changes |  |  | 187 |  |  |  | 1,561 |
Downward carrying value changes/impairments |  |  | (13 | ) |  |  | (164 | )
Investment Income [Table Text Block] |
|  | Year Ended June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Investment Income (Loss) |  |  |  |  |  |  |  |
Realized gains on equity securities |  | $ | 1,848 |  |  | $ | 16,566 |
Realized gains on debt securities |  |  | 2,191 |  |  |  | 1,180 |
Unrealized gains (losses) on equity securities |  |  | (7,247 | ) |  |  | 9,909 |
Unrealized losses on embedded derivatives |  |  | (2,539 | ) |  |  | - |
Dividend and interest income |  |  | 1,949 |  |  |  | 464 |
Realized foreign currency gains (losses) |  |  | (248 | ) |  |  | 219 |
Total Investment Income (Loss) |  | $ | (4,046 | ) |  | $ | 28,338 |
Unrealized Gain (Loss) on Investments [Table Text Block] |
|  | Year Ended June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Net gains (losses) recognized during the period on equity securities |  | $ | (5,399 | ) |  | $ | 26,475 |
Less: Net gains (losses) recognized during the period on equity securities sold during the period |  |  | (178 | ) |  |  | (20,585 | )
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date 1 |  | $ | (5,577 | ) |  | $ | 5,890 |

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