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Condensed Consolidated Statements Of Cash Flows - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities        
Net loss $ (6,204,000) $ (34,881,000) [1] $ (39,696,000) $ (39,478,000) [1]
Depreciation and amortization 1,132,000 3,157,000 3,129,000 12,303,000
Impairment loss (Note 7) 0 6,336,000 0 6,336,000
Movement in allowance for doubtful accounts receivable 299,000 277,000 913,000 360,000
(Earnings) Loss from equity-accounted investments (Note 6) (55,000) 32,193,000 20,098,000 30,624,000
Movement in allowance for doubtful loans to equity-accounted investments 0 99,000 739,000 719,000
Change in fair value of equity securities (Note 5 and 6) (10,814,000) 0 [1] (25,942,000) 0 [1]
Fair value adjustment related to financial liabilities (475,000) (987,000) 1,201,000 (753,000)
Interest payable (25,000) 597,000 (46,000) 1,755,000
Gain on disposal of Net1 Korea (Note 2) 0 (12,733,000) 0 (12,733,000)
Gain on disposal of FIHRST (Note 2) 0 0 [1] 0 (9,743,000) [1]
Loss on disposal of equity-accounted investment - Bank Frick (Note 6) 472,000 0 472,000 0
Loss on disposal of equity-accounted investment (Note 6) 0 0 [1] 13,000 0 [1]
(Profit) Loss on disposal of property, plant and equipment (142,000) 108,000 600,000 (95,000)
Stock-based compensation charge (Note 13) 245,000 347,000 876,000 1,170,000
Dividends received from equity accounted investments 0 677,000 125,000 2,125,000
Decrease in accounts receivable and finance loans receivable 5,786,000 10,596,000 4,230,000 13,697,000
Decrease (Increase) in inventory 428,000 (5,041,000) 2,642,000 (18,036,000)
Decrease in accounts payable and other payables (894,000) (4,396,000) (4,393,000) (4,660,000)
Decrease in taxes payable (160,000) (131,000) (15,498,000) (1,087,000)
Increase (Decrease) in deferred taxes 2,153,000 (413,000) 424,000 (618,000)
Net cash used in operating activities (8,254,000) (4,195,000) (50,113,000) (18,114,000)
Cash flows from investing activities        
Capital expenditures (649,000) (1,042,000) (3,947,000) (4,493,000)
Proceeds from disposal of property, plant and equipment 254,000 59,000 345,000 362,000
Proceeds from disposal of equity-accounted investment - Bank Frick, net of expenses (Note 6) 18,568,000 0 18,568,000 0
Proceeds from disposal of Net1 Korea, net of cash disposed (Note 2) 0 192,619,000 20,114,000 192,619,000
Transaction costs paid related to disposal of Net1 Korea (Note 2) 0 (7,458,000) 0 (7,458,000)
Proceeds from disposal of DNI as equity-accounted investment (Note 3) 0 0 6,010,000 0
Loan to equity-accounted investment (Noe 6) 0 (99,000) (1,238,000) (711,000)
Repayment of loans by equity-accounted investments 0 0 134,000 4,268,000
Proceeds from disposal of FIHRST, net of cash disposed (Note 2) 0 0 0 10,895,000
Investment in equity-accounted investments (Note 6) 0 (1,250,000) 0 (2,500,000)
Net change in settlement assets 745,000 864,000 6,190,000 (9,274,000)
Net cash provided by investing activities 18,918,000 183,693,000 46,176,000 183,708,000
Cash flows from financing activities        
Proceeds from bank overdraft (Note 9) 55,280,000 193,723,000 261,759,000 585,273,000
Repayment of bank overdraft (Note 9) (103,195,000) (226,699,000) (268,303,000) (605,253,000)
Proceeds from disgorgement of shareholders' short-swing profits (Note 22) 0 0 124,000 0
Proceeds from exercise of stock options 35,000 0 53,000 0
Long-term borrowings utilized (Note 9) 0 0 0 14,798,000
Repayment of long-term borrowings (Note 9) 0 0 0 (11,313,000)
Guarantee fee 0 0 0 (148,000)
Finance lease capital repayments 0 (17,000) 0 (69,000)
Net change in settlement obligations (745,000) (864,000) (6,190,000) 9,274,000
Net cash used in financing activities (48,625,000) (33,857,000) (12,557,000) (7,438,000)
Effect of exchange rate changes on cash and cash equivalents (2,263,000) (20,060,000) 10,839,000 (19,007,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (40,224,000) 125,581,000 (5,655,000) 139,149,000
Cash, cash equivalents and restricted cash - beginning of period 267,054,000 135,079,000 232,485,000 121,511,000
Cash, cash equivalents and restricted cash - end of period (Note 15) $ 226,830,000 $ 260,660,000 $ 226,830,000 $ 260,660,000
[1]
Certain amounts have been restated to correct the misstatement discussed in Note 1.