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v3.22.2.2

Note 2 - Investments (Tables) | 3 Months Ended
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Sep. 30, 2022
Notes Tables |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
|  | September 30, 2022 |
|  |  |  |  |  | Significant |  |  | Significant |  |  |  |  |
|  | Quoted |  |  | Other |  |  | Unobservable |  |  |  |  |
|  | 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 |  | $ | 1,100 |  |  | $ | - |  |  | $ | 2,675 |  |  | $ | 3,775 |
Mutual funds - Fixed income |  |  | 11,963 |  |  |  | - |  |  |  | - |  |  |  | 11,963 |
Mutual funds - Global equity |  |  | 608 |  |  |  | - |  |  |  | - |  |  |  | 608 |
Total investments in equity securities: |  | $ | 13,671 |  |  | $ | - |  |  | $ | 2,675 |  |  | $ | 16,346 |
Investments in debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale - Convertible debentures |  |  | - |  |  |  | - |  |  |  | 10,686 |  |  |  | 10,686 |
Total investments carried at fair value on a recurring basis: |  | $ | 13,671 |  |  | $ | - |  |  | $ | 13,361 |  |  | $ | 27,032 |
Investments carried at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments (1) |  | $ | - |  |  | $ | - |  |  | $ | 1,436 |  |  | $ | 1,436 |
|  | June 30, 2022 |
|  |  |  |  |  | Significant |  |  | Significant |  |  |  |  |
|  | Quoted |  |  | Other |  |  | Unobservable |  |  |  |  |
|  | 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 investments (1) |  | $ | - |  |  | $ | - |  |  | $ | 781 |  |  | $ | 781 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
|  | September 30, 2022 |
|  | Investments in |  |  | Investments in |
(dollars in thousands) |  | equity securities |  |  | debt securities |
Beginning Balance |  | $ | 2,643 |  |  | $ | 11,449 |
Principal repayments |  |  | - |  |  |  | (750 | )
Amortization of day one premium |  |  | - |  |  |  | (71 | )
Accretion of bifurcation discount |  |  | - |  |  |  | 209 |
Total unrealized gains or losses included in: |  |  |  |  |  |  |  |
Investment Income (Loss) |  |  | 32 |  |  |  | 469 |
Other Comprehensive Income (Loss) |  |  | - |  |  |  | (620 | )
Ending Balance |  | $ | 2,675 |  |  | $ | 10,686 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
|  | September 30, 2022 |
(dollars in thousands) |  | Fair Value |  | Principal Valuation Techniques |  | Unobservable Inputs |
Investments in equity securities: |  |  |  |  |  |  |  |  |  |  |
Common share purchase warrants |  | $ | 2,675 |  | Option pricing model |  |  |  |  |  |
|  |  |  |  |  |  | Volatility |  |  | 92.1 | %
Investments in debt securities: |  |  |  |  |  |  |  |  |  |  |
Available-for-sale - Convertible debentures |  | $ | 10,686 |  | Binomial lattice model |  |  |  |  |  |
|  |  |  |  |  |  | Volatility |  |  | 111.0 | %
|  |  |  |  |  |  | Credit Adjusted Discount Rate |  |  | 5.5 | %
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] |
|  | September 30, 2022 |
(dollars in thousands) |  | Cost |  |  | Unrealized Gains (Losses) |  |  | Fair Value |
Equity securities at fair value |  |  |  |  |  |  |  |  |  |  |  |
Equities - International |  | $ | 6,680 |  |  | $ | (2,905 | ) |  | $ | 3,775 |
Equities - Domestic |  |  | 45 |  |  |  | (45 | ) |  |  | - |
Mutual funds - Fixed income |  |  | 12,313 |  |  |  | (350 | ) |  |  | 11,963 |
Mutual funds - Global equity |  |  | 929 |  |  |  | (321 | ) |  |  | 608 |
Total equity securities at fair value |  | $ | 19,967 |  |  | $ | (3,621 | ) |  | $ | 16,346 |
|  | 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 |
|  | September 30, 2022 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains in Other Comprehensive Income (Loss) |  |  | Gross Unrealized Losses in Investment Loss |  |  | Fair Value |
Available-for-sale - Convertible debentures (1) |  | $ | 8,433 |  |  | $ | 4,792 |  |  | $ | (2,539 | ) |  | $ | 10,686 |
|  | June 30, 2022 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains in Other Comprehensive Income (Loss) |  |  | Gross Unrealized Losses in Investment Loss |  |  | Fair Value |
Available-for-sale - Convertible debentures (1) |  | $ | 8,576 |  |  | $ | 5,412 |  |  | $ | (2,539 | ) |  | $ | 11,449 |
|  | September 30, 2022 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrecognized Holding Gains |  |  | Gross Unrecognized Holding Losses |  |  | Fair Value |
Held-to-maturity - Debentures (1) |  | $ | 1,000 |  |  | $ | - |  |  | $ | (202 | ) |  | $ | 798 |
|  | June 30, 2022 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrecognized Holding Gains |  |  | Gross Unrecognized Holding Losses |  |  | Fair Value |
Held-to-maturity - Debentures (1) |  | $ | 1,000 |  |  | $ | - |  |  | $ | (133 | ) |  | $ | 867 |
Investments Classified by Contractual Maturity Date [Table Text Block] |
|  | September 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 |  | $ | 8,433 |  |  | $ | 1,000 |
Fair Value |  | $ | 10,686 |  |  | $ | 798 |
Schedule of Derivative Instruments [Table Text Block] |
|  | September 30, 2022 |  |  | June 30, 2022 |
|  | Other Assets |  |  | Other Assets |
|  | Investments in |  |  | Investments in |
|  | available-for-sale |  |  | available-for-sale |
(dollars in thousands) |  | debt securities |  |  | debt securities |
Embedded Derivatives: |  |  |  |  |  |  |  |
Equity price risk exposure |  | $ | 3 |  |  | $ | 3 |
|  | Three Months Ended |
|  | September 30, |
|  | 2022 |  |  | 2021 |
|  | Other Income (Loss) |  |  | Other Income (Loss) |
(dollars in thousands) |  | Investment Loss |  |  | Investment Loss |
Embedded Derivatives: |  |  |  |  |  |  |  |
Equity price risk exposure |  | $ | - |  |  | $ | (438 | )
Equity Securities without Readily Determinable Fair Value [Table Text Block] |
|  | Three Months Ended |
|  | September 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Other Investments |  |  |  |  |  |  |  |
Carrying value |  | $ | 2,630 |  |  | $ | 3,453 |
Upward carrying value changes |  | $ | - |  |  | $ | - |
Downward carrying value changes/impairment |  | $ | (1,839 | ) |  | $ | - |
Investment Income [Table Text Block] |
| Three Months Ended |
(dollars in thousands) | September 30, |
Investment loss | 2022 |  |  | 2021 |
Realized gains on equity securities | $ | - |  |  | $ | 1,809 |
Realized gains on debt securities |  | 469 |  |  |  | 602 |
Unrealized losses on equity securities |  | (1,917 | ) |  |  | (2,358 | )
Unrealized losses on embedded derivatives |  | - |  |  |  | (438 | )
Dividend and interest income |  | 418 |  |  |  | 497 |
Realized foreign currency losses |  | (417 | ) |  |  | (146 | )
Total Investment Loss | $ | (1,447 | ) |  | $ | (34 | )
Unrealized Gain (Loss) on Investments [Table Text Block] |
|  | Three Months Ended |
|  | September 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Net gains (losses) recognized during the period on equity securities |  | $ | (1,917 | ) |  | $ | (549 | )
Less: Net gains (losses) recognized during the period on equity securities sold during the period |  |  | - |  |  |  | 1,809 |
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date (1) |  | $ | (1,917 | ) |  | $ | (2,358 | )

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