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Note 11 - Financial Information by Business Segment | 9 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 11. FINANCIAL INFORMATION BY BUSINESS SEGMENT The Company operates principally in two business segments: 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 following schedule details gross identifiable assets, total revenues, and income by business segment.
(dollars in thousands) |  | Investment Management Services |  |  | Corporate Investments |  |  | Consolidated |
Nine Months Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 11,764 |  |  | $ | - |  |  | $ | 11,764 |
Investment loss |  | $ | - |  |  | $ | (189 | ) |  | $ | (189 | )
Other income |  | $ | 184 |  |  | $ | - |  |  | $ | 184 |
Income (loss) before income taxes |  | $ | 3,461 |  |  | $ | (243 | ) |  | $ | 3,218 |
Depreciation |  | $ | 183 |  |  | $ | - |  |  | $ | 183 |
Gross identifiable assets at March 31, 2023 |  | $ | 25,056 |  |  | $ | 29,030 |  |  | $ | 54,086 |
Deferred tax asset |  |  |  |  |  |  |  |  |  | $ | 1,659 |
Consolidated total assets at March 31, 2023 |  |  |  |  |  |  |  |  |  | $ | 55,745 |
Nine Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 19,270 |  |  | $ | - |  |  | $ | 19,270 |
Investment loss |  | $ | - |  |  | $ | (1,950 | ) |  | $ | (1,950 | )
Loss from equity method investments |  | $ | - |  |  | $ | (206 | ) |  | $ | (206 | )
Other income |  | $ | 174 |  |  | $ | - |  |  | $ | 174 |
Income (loss) before income taxes |  | $ | 8,750 |  |  | $ | (2,409 | ) |  | $ | 6,341 |
Depreciation |  | $ | 165 |  |  | $ | - |  |  | $ | 165 |
Gross identifiable assets at March 31, 2022 |  | $ | 27,652 |  |  | $ | 34,863 |  |  | $ | 62,515 |
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 3,624 |  |  | $ | - |  |  | $ | 3,624 |
Investment income |  | $ | - |  |  | $ | 1,155 |  |  | $ | 1,155 |
Other income |  | $ | 61 |  |  | $ | - |  |  | $ | 61 |
Income before income taxes |  | $ | 815 |  |  | $ | 1,131 |  |  | $ | 1,946 |
Depreciation |  | $ | 61 |  |  | $ | - |  |  | $ | 61 |
Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues |  | $ | 6,175 |  |  | $ | - |  |  | $ | 6,175 |
Investment loss |  | $ | - |  |  | $ | (3,495 | ) |  | $ | (3,495 | )
Loss from equity method investments |  | $ | - |  |  | $ | (173 | ) |  | $ | (173 | )
Other income |  | $ | 59 |  |  | $ | - |  |  | $ | 59 |
Income (loss) before income taxes |  | $ | 2,612 |  |  | $ | (3,704 | ) |  | $ | (1,092 | )
Depreciation |  | $ | 61 |  |  | $ | - |  |  | $ | 61 |
Net operating revenues from investment management services includes operating revenues from USGIF of $482,000 and $1.4 million for the three and nine months ended March 31, 2023, respectively, and $803,000 and $3.1 million for the three and nine months ended March 31, 2022, respectively. Net operating revenues from investment management services also include operating revenues from ETF clients of $3.1 million and $10.4 million for the three and nine months ended March 31, 2023, respectively, and $5.4 million and $16.1 million for the three and nine months ended March 31, 2022, respectively.

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