Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net

9 Months Ended

Mar. 31, 2020

Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net [Abstract]

Accounts Receivable, Net And Other Receivables And Finance Loans Receivable, Net

3.Accounts receivable, net and other receivables and finance loans receivable, net

Accounts receivable, net and other receivables

The Company’s accounts receivable, net, and other receivables as of March 31,2020, and June 30,2019, are presented in the table below:

			March 31,			June 30,
				2020		2019
Accounts receivable, trade, net		$		12 691	$	12 637
Accounts receivable, trade, gross				13 076		13 298
Allowance for doubtful accounts receivable, end of period				385		661
	Beginning of period			661		678
	Reversed to statement of operations			(183)		(22)
	Charged to statement of operations			145		3 118
	Utilized			(128)		(3 059)
	Deconsolidation			-		(38)
	Foreign currency adjustment			(110)		(16)
Taxes refundable related to sale of Net1 Korea (Note 2)				19 473		-
Loans provided to Carbon				3 000		3 000
Loan provided to DNI				-		4 260
Other receivables				10 678		11 238
	Total accounts receivable, net	$		45 842	$	31 135

3.Accounts receivable, net and other receivables and finance loans receivable, net (continued)

The loan provided to DNI was repaid in full in July 2019. Other receivables include prepayments, deposits and other receivables.

Finance loans receivable, net

The Company’s finance loans receivable, net, as of March 31,2020, and June 30,2019, is presented in the table below:

			March 31,			June 30,
				2020		2019
Microlending finance loans receivable, net		$		8 781	$	20 981
Microlending finance loans receivable, gross				10 509		24 180
Allowance for doubtful finance loans receivable, end of period				1 728		3 199
	Beginning of period			3 199		4 239
	Reversed to statement of operations			(542)		-
	Charged to statement of operations			940		28 802
	Utilized			(1 284)		(29 721)
	Foreign currency adjustment			(585)		(121)
Working capital finance loans receivable, gross				5 800		5 800
Allowance for doubtful finance loans receivable, end of period				5 800		5 800
	Beginning of period			5 800		12 037
	Charged to statement of operations			-		748
	Utilized			-		(6 985)
	Total accounts receivable, net	$		8 781	$	20 981

The reduction in gross microlending finance loans receivable was partially due to the collection of repayments at the end of March due to the early opening of the grant payfile. The Company considered the impact of COVID-19 on the collectability of the outstanding balance as of March 31, 2020, and determined that an increase in the allowance doubtful finance loans receivable specifically related to the COVID-19 pandemic was not required. The Company made this determination because it does not expect the pandemic to significantly impact the customer base’s ability to repay amounts due over the next five months.

The Company created an allowance for doubtful working capital finance receivables related to receivables due from customers based in the United States during the year ended June 30, 2018.