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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
[1]
Mar. 31, 2020
Mar. 31, 2019
[1]
Cash flows from operating activities        
Net loss $ (34,881) $ (59,547) $ (39,478) $ (125,620)
Depreciation and amortization 3,157 9,881 12,303 30,528
Impairment loss (Note 2 and 8) 6,336 5,305 6,336 13,496
Movement in allowance for doubtful accounts receivable 277 396 360 31,638
Loss from equity-accounted investments (Note 7) 32,193 464 30,624 338
Movement in allowance for doubtful loans 99 0 719 0
Interest on Cedar Cellular note (Note 7) 0 (578) 0 (1,950)
Impairment of Cedar Cellular note (Note 7) 0 2,622 0 5,354
Change in fair value of equity securities (Note 6 and 7) 0 26,263 0 42,099
Fair value adjustment related to financial liabilities (987) 90 (753) 91
Interest payable 597 53 1,755 294
Facility fee amortized 0 51 0 206
Gain on disposal of Net1 Korea (Note 2) (12,733) 0 (12,733) 0
Gain on disposal of FIHRST (Note 2) 0 0 (9,743) 0
Loss on disposal of DNI (Note 2) 0 9,175 0 9,175
Loss (Profit) on disposal of property, plant and equipment 108 (147) (95) (413)
Stock-based compensation charge (Note 14) 347 487 1,170 1,672
Dividends received from equity accounted investments 677 0 2,125 454
Decrease (increase) in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable 10,596 (14,938) 13,697 6,533
(Increase) Decrease in inventory (5,041) 1,451 (18,036) 3,612
(Decrease) Increase in accounts payable and other payables (4,396) 8,196 (4,660) (11,339)
(Decrease) Increase in taxes payable (131) 795 (1,087) 2,142
Increase in deferred taxes (413) (4,153) (618) (11,223)
Net cash used in operating activities (4,195) (14,134) (18,114) (2,913)
Cash flows from investing activities        
Capital expenditures (1,042) (1,615) (4,493) (7,280)
Proceeds from disposal of property, plant and equipment 59 295 362 781
Proceeds from disposal of Net1 Korea, net of cash disposed (Note 2) 192,619 0 192,619 0
Transaction costs paid related to disposal of Net1 Korea (Note 2) (7,458) 0 (7,458) 0
Proceeds from disposal of FIHRST, net of cash disposed (Note 2) 0 0 10,895 0
Investment in equity-accounted investments (Note 7) (1,250) (489) (2,500) (2,989)
Loan to equity-accounted investment (Noe 7) (99) 0 (711) 0
Repayment of loans by equity-accounted investments 0 0 4,268 0
Disposal of DNI (Note 2 and Note 16) 0 (2,114) 0 (2,114)
Acquisition of intangible assets 0 0 0 (1,384)
Investment in MobiKwik 0 0 0 (1,056)
Return on investment 0 0 0 284
Net change in settlement assets 864 (1,083) (9,274) 76,879
Net cash provided by (used in) investing activities 183,693 (5,006) 183,708 63,121
Cash flows from financing activities        
Proceeds from bank overdraft (Note 10) 193,723 278,288 585,273 584,525
Repayment of bank overdraft (Note 10) (226,699) (257,097) (605,253) (502,823)
Long-term borrowings utilized (Note 10) 0 3,609 14,798 14,613
Repayment of long-term borrowings (Note 10) 0 (12,499) (11,313) (36,310)
Guarantee fee 0 0 (148) (394)
Finance lease capital repayments (17) 0 (69) 0
Dividends paid to non-controlling interest 0 (1,148) 0 (4,085)
Net change in settlement obligations (864) 1,083 9,274 (76,879)
Net cash (used in) provided by financing activities (33,857) 12,236 (7,438) (21,353)
Effect of exchange rate changes on cash (20,060) (3,199) (19,007) (5,971)
Net increase (decrease) in cash, cash equivalents and restricted cash 125,581 (10,103) 139,149 32,884
Cash, cash equivalents and restricted cash - beginning of period 135,079 133,041 121,511 90,054
Cash, cash equivalents and restricted cash - end of period (Note 16) $ 260,660 $ 122,938 $ 260,660 $ 122,938
[1]
Refer to Note 1