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INVESTMENTS (Tables)

6 Months Ended

Dec. 31, 2021

INVESTMENTS (Tables) [Line Items]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

The following summarizes the major categories of investments with fair values adjusted on a recurring basis as of December 31, 2021, and June 30, 2021, and other investments with fair values adjusted on a nonrecurring basis, with fair values shown according to the fair value hierarchy. There were no fair values adjusted on a nonrecurring basis during the six months ended December 31, 2021.

		December 31, 2021
						Significant				Significant
		Quoted Prices				Other Inputs				Unobservable 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		$	993			$	-			$	7,316			$	8,309
Mutual funds - Fixed income			6,291				-				-				6,291
Mutual funds - Global equity			881				-				-				881
Total investments in equity securities:		$	8,165			$	-			$	7,316			$	15,481
Investments in debt securities:
Available-for-sale - Convertible debentures			-				-				14,971				14,971
Total investments carried at fair value on a recurring basis:		$	8,165			$	-			$	22,287			$	30,452

		June 30, 2021
						Significant				Significant
		Quoted Prices				Other Inputs				Unobservable 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

1. Other investments include equity securities without readily determinable fair values that were adjusted as a result of the measurement alternative on dates during the fiscal year ended June 30, 2021. These securities are classified as level 3 due to the infrequency of the observable price changes and/or restrictions on the shares.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table is a reconciliation of investments recorded at fair value for which unobservable inputs (Level 3) were used in determining fair value during the six months ended December 31, 2021.

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis
		Six Months Ended December 31, 2021
(dollars in thousands)		Investments in equity securities				Investments in debt securities
Beginning Balance		$	8,026			$	17,049
Principal repayments			-				(1,500	)
Amortization of Premium			-				(177	)
Accretion of Discount			-				521
Total gains (losses) included in:
Investment Income			(710	)			612
Other Comprehensive Income (Loss)			-				(1,534	)
Ending Balance		$	7,316			$	14,971

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The Company currently considers the related fair value measurements to contain Level 3 inputs. The following is quantitative information as of December 31, 2021, with respect to the securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3):

		December 31, 2021
(dollars in thousands)		Fair Value			Principal Valuation Techniques		Unobservable Inputs
Investments in equity securities:
Common share purchase warrants		$	7,316		Option pricing model
							Volatility			97.2	%
Investments in debt securities:
Available-for-sale - Convertible debentures		$	14,971		Binomial lattice model
							Volatility			64.0	%
							Credit Adjusted Discount Rate			2.2	%

Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

The following details the components of the Company’s equity investments carried at fair value as of December 31, 2021, and June 30, 2021.

		December 31, 2021
(dollars in thousands)		Cost				Unrealized Gains (Losses)				Fair Value
Equity securities at fair value
Equities - International		$	6,201			$	2,108			$	8,309
Equities - Domestic			45				(45	)			-
Mutual funds - Fixed income			6,313				(22	)			6,291
Mutual funds - Global equity			929				(48	)			881
Total equity securities at fair value		$	13,488			$	1,993			$	15,481

		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

Debt Securities, Available-for-sale and Held-to-Maturity [Table Text Block]

The following details the components of the Company’s available-for-sale debt investments as of December 31, 2021, and June 30, 2021.

		December 31, 2021
(dollars in thousands)		Amortized Cost				Gross Unrealized Gains in Other Comprehensive Income				Gross Unrealized Losses in Earnings				Fair Value
Available-for-sale - Convertible debentures1		$	8,755			$	6,775			$	(559	)		$	14,971

		June 30, 2021
(dollars in thousands)		Amortized Cost				Gross Unrealized Gains in Other Comprehensive Income				Gross Unrealized Losses in Earnings				Fair Value
Available-for-sale - Convertible debentures1		$	8,741			$	8,308			$	-			$	17,049

1. Changes in unrealized gains and losses are included in the statement of comprehensive income (loss), except for embedded derivatives. Changes in unrealized and realized gains and losses for embedded derivatives are included in earnings in the statement of operations.

		December 31, 2021
(dollars in thousands)		Amortized Cost				Gross Unrecognized Holding Gains				Gross Unrecognized Holding Losses				Fair Value
Held-to-maturity - Debentures1		$	1,000			$	-			$	(22	)		$	978

		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

1. Held-to-maturity debt investments are carried at amortized cost.

Investments Classified by Contractual Maturity Date [Table Text Block]

Investments in debt securities classified as held-to-maturity are carried at amortized cost. The following summarizes the net carrying amount and estimated fair value of debt securities at December 31, 2021, by contractual maturity dates. Actual maturities may differ from final contractual maturities due to principal repayment installments or prepayment rights held by issuers.

		December 31, 2021
		Available-for-sale debt securities				Held-to-maturity debt securities
(dollars in thousands)		Convertible debentures (1)				Due after one year through five years
Net Carrying Amount		$	8,755			$	1,000
Fair Value		$	14,971			$	978

1. Principal payments are due quarterly with a final maturity date in January 2026.

Equity Securities without Readily Determinable Fair Value [Table Text Block]

The following table presents the carrying value of equity securities without readily determinable fair values held as of December 31, 2021, and 2020, that are measured under the measurement alternative and the related adjustments recorded during the periods presented for those securities with observable price changes or impairments. These securities are included in the nonrecurring fair value hierarchy tables when applicable price changes are observable, or when impairments occur.

		Six Months Ended								Three Months Ended
		December 31,								December 31,
(dollars in thousands)		2021				2020				2021				2020
Other Investments
Carrying value		$	3,551			$	1,385			$	3,551			$	1,385
Upward carrying value changes			-				-				-				-
Downward carrying value changes/impairment			-				(123	)			-				(6	)

Gain (Loss) on Securities [Table Text Block]

The following summarizes investment income reflected in earnings for the periods presented.

		Six Months Ended								Three Months Ended
(dollars in thousands)		December 31,								December 31,
Investment Income		2021				2020				2021				2020
Unrealized gains (losses) on fair valued securities		$	(1,903	)		$	6,573			$	455			$	5,466
Unrealized losses on embedded derivatives			(559	)			-				(121	)			-
Unrealized losses on equity securities without readily determinable fair values			-				(113	)			-				-
Realized gains on principal payment proceeds			1,170				-				569				-
Realized gains on sales of fair valued securities			1,853				15,043				43				15,043
Realized foreign currency gains (losses)			(120	)			176				26				175
Dividend and interest income			1,104				21				607				18
Total Investment Income		$	1,545			$	21,700			$	1,579			$	20,702

Unrealized Gain (Loss) on Investments [Table Text Block]

Unrealized gains and losses recognized on equity investments held as of the end of each three and six months ended December 31, 2021, and 2020 are as follows:

		Six Months Ended								Three Months Ended
		December 31,								December 31,
(dollars in thousands)		2021				2020				2021				2020
Net gains (losses) recognized during the period on equity securities		$	(50	)		$	21,503			$	498			$	20,509
Less: Net gains (losses) recognized during the period on equity securities sold during the period			(183	)			(18,284	)			1				(18,013	)
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date1		$	(233	)		$	3,219			$	499			$	2,496

1.  Included $(113,000) for the six months ended December 31, 2020, of net gains (losses) as a result of the measurement alternative. There were no net gains (losses) as a result of the measurement alternative for the six months ended December 31, 2021, or for the three months ended December 31, 2021, and 2020.

Other Assets [Member]

INVESTMENTS (Tables) [Line Items]

Schedule of Derivative Instruments [Table Text Block]

The following table summarizes the fair values of embedded derivatives on the Consolidated Balance Sheet, categorized by risk exposure, at December 31, 2021, and June 30, 2021.

		December 31, 2021				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		$	1,983			$	2,542

Other Income [Member]

INVESTMENTS (Tables) [Line Items]

Schedule of Derivative Instruments [Table Text Block]

The following table presents the effect of embedded derivatives on the Consolidated Statements of Operations, categorized by risk exposure, for the three and six months ended December 31, 2021, and 2020.

		Six Months Ended December 31, 2021				Six Months Ended December 31, 2020				Three Months Ended December 31, 2021				Three Months Ended December 31, 2020
		Other Income (Loss)				Other Income (Loss)				Other Income (Loss)				Other Income (Loss)
(dollars in thousands)		Investment income (loss)				Investment income (loss)				Investment income (loss)				Investment income (loss)
Embedded Derivatives:
Equity price risk exposure		$	(559	)		$	-			$	(121	)		$	-

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