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Note 16 - Financial Information by Business Segment | 12 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 16. FINANCIAL INFORMATION BY BUSINESS SEGMENT The Company manages the following business segments:
| 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
These segments are managed separately. The Company’s segment information is prepared on the same basis that management uses to review the financial information for operational and investment decision-making purposes. The Company's chief operating and investment decision maker, the Chief Executive Officer, evaluates the performance of the Company’s Corporate Investments segment separately from the Investment Management Services segment based on investment income (loss), and the Corporate Investments segment does not include any allocated company expenses. All segment accounting policies are the same as those described in the summary of significant accounting policies. The following schedule details total revenues and income by business segment:
|  | Investment |  |  |  |  |  |  |  |  |
|  | Management |  |  | Corporate |  |  |  |  |
(dollars in thousands) |  | Services |  |  | Investments |  |  | Consolidated |
Year ended June 30, 2022, As Restated |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 24,714 |  |  | $ | - |  |  | $ | 24,714 |
Investment loss |  | $ | - |  |  | $ | (6,174 | ) |  | $ | (6,174 | )
Loss from equity method investments |  | $ | - |  |  | $ | (206 | ) |  | $ | (206 | )
Other income |  | $ | 235 |  |  | $ | - |  |  | $ | 235 |
Income (loss) before income taxes |  | $ | 11,622 |  |  | $ | (6,654 | ) |  | $ | 4,968 |
Depreciation and amortization |  | $ | 226 |  |  | $ | - |  |  | $ | 226 |
Gross identifiable assets at June 30, 2022 |  | $ | 23,003 |  |  | $ | 34,487 |  |  | $ | 57,490 |
Deferred tax asset |  |  |  |  |  |  |  |  |  | $ | 872 |
Consolidated total assets at June 30, 2022 |  |  |  |  |  |  |  |  |  | $ | 58,362 |
Year ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 21,654 |  |  | $ | - |  |  | $ | 21,654 |
Investment income |  | $ | - |  |  | $ | 28,338 |  |  | $ | 28,338 |
Income from equity method investments |  | $ | - |  |  | $ | 347 |  |  | $ | 347 |
Gain on forgiveness of PPP loan |  | $ | 444 |  |  | $ | - |  |  | $ | 444 |
Other income |  | $ | 144 |  |  | $ | - |  |  | $ | 144 |
Income before income taxes |  | $ | 10,866 |  |  | $ | 26,572 |  |  | $ | 37,438 |
Depreciation and amortization |  | $ | 196 |  |  | $ | - |  |  | $ | 196 |
Gross identifiable assets at June 30, 2021 |  | $ | 17,522 |  |  | $ | 44,755 |  |  | $ | 62,277 |
Net operating revenues from investment management services include revenues from USGIF of $3.8 million and $4.5 million in fiscal years 2022 and 2021, respectively. Net operating revenues from investment management services also include operating revenues from ETF clients of $21.0 million and $17.1 million in fiscal years 2022 and 2021, respectively.

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