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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities        
Net loss $ (205) $ (60,969) $ (4,597) $ (66,073)
Depreciation and amortization 4,381 9,853 9,146 20,647
Impairment loss (Note 8) 0 8,191 0 8,191
Movement in allowance for doubtful accounts receivable (429) 21,368 83 23,958
(Earnings) loss from equity-accounted investments (Note 7) (506) 1,247 (1,569) (126)
Movement in allowance for doubtful loans 620 0 620 0
Interest on Cedar Cellular note (Note 7) 0 (1,216) 0 (1,372)
Impairment of Cedar Cellular note (Note 7) 0 2,732 0 2,732
Change in fair value of equity securities (Note 6 and 7) 0 15,836 0 15,836
Fair value adjustment related to financial liabilities 147 83 234 1
Interest payable 526 131 1,158 241
Profit on disposal of property, plant and equipment (49) (139) (203) (266)
Stock-based compensation charge (Note 14) 436 598 823 1,185
Dividends received from equity accounted investments 380 454 1,448 454
Decrease in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable 8,767 18,753 3,101 28,755
(Increase) Decrease in inventory (682) (24) (12,995) 2,161
Increase (Decrease) in accounts payable and other payables 3,132 (11,759) (264) (19,535)
(Decrease) increase in taxes payable (2,244) (7,007) (956) 1,347
Decrease in deferred taxes (117) (3,436) (205) (7,070)
Facility fee amortized 0 68 0 155
Gain on disposal of FIHRST (Note 2) (9,743) 0 (9,743) 0
Net cash provided by (used in) operating activities 4,414 (5,236) (13,919) 11,221
Cash flows from investing activities        
Capital expenditures (827) (2,547) (3,451) (5,665)
Proceeds from disposal of property, plant and equipment 90 212 303 486
Proceeds from disposal of FIHRST (Note 2) 10,895 0 10,895 0
Investment in equity of equity-accounted investments (Note 7) 0 (2,500) (1,250) (2,500)
Loan to equity-accounted investment (Noe 7) (612) 0 (612) 0
Repayment of loans by equity-accounted investments 0 0 4,268 0
Acquisition of intangible assets 0 (1,384) 0 (1,384)
Investment in MobiKwik 0 (1,056) 0 (1,056)
Return on investment 0 0 0 284
Net change in settlement assets 3,371 2,031 (10,138) 77,962
Net cash provided by (used in) investing activities 12,917 (5,244) 15 68,127
Cash flows from financing activities        
Proceeds from bank overdraft (Note 10) 207,876 221,582 391,550 306,237
Repayment of bank overdraft (Note 10) (193,725) (245,726) (378,554) (245,726)
Long-term borrowings utilized (Note 10) 0 3,203 14,798 11,004
Repayment of long-term borrowings (Note 10) (11,313) (13,551) (11,313) (23,811)
Guarantee fee 0 (258) (148) (394)
Finance lease capital repayments (26) 0 (52) 0
Dividends paid to non-controlling interest 0 (1,208) 0 (2,937)
Net change in settlement obligations (3,371) (2,031) 10,138 (77,962)
Net cash (used in) provided by financing activities (559) (37,989) 26,419 (33,589)
Effect of exchange rate changes on cash 7,508 (1,823) 1,053 (2,772)
Net increase (decrease) in cash and cash equivalents 24,280 (50,292) 13,568 42,987
Cash and cash equivalents - beinning of period 110,799 183,333 121,511 90,054
Cash and cash equivalents - end of period [1] $ 135,079 $ 133,041 $ 135,079 $ 133,041
[1]
Cash, cash equivalents and restricted cash as of December 31, 2019, includes restricted cash of approximately $84.4 million related to cash withdrawn from the Company’s various debt facilities to fund ATMs. This cash may only be used to fund ATMs and is considered restricted as to use and therefore is classified as restricted cash. Refer to Note 10 for additional information regarding the Company’s facilities.