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

9 Months Ended

Mar. 31, 2022

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

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

2. 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, 2022, and June 30, 2021, are presented in the table below:

		March 31,		June 30,
		2022		2021

Accounts receivable, trade, net		$	10,025	$	10,493
Accounts receivable, trade, gross			10,479		10,760
Allowance for doubtful accounts receivable, end of period			454		267
	Beginning of period		267		253
	Reversed to statement of operations		(60)		(182)
	Charged to statement of operations		251		232
	Utilized		(3)		(59)
	Foreign currency adjustment		(1)		23

Current portion of amount outstanding related to sale of interest in Bank Frick			3,890		7,500
Loans provided to Carbon			-		-
Current portion of total held to maturity investments			-		-
	Investment in 7.625% of Cedar Cellular Investment 1 (RF) (Pty) Ltd 8.625% notes		-		-
Other receivables			10,520		8,590
	Total accounts receivable, net and other receivables	$	24,435	$	26,583

Current portion of amount outstanding related to sale of interest in Bank Frick represents the amount due from the purchaser related to the sale of Bank Frick. The Company received the first scheduled repayment of $7.5 million in October 2021 and the remaining amount of $3.9 million is due in July 2022.

The loan of $3.0 million provided to Carbon was scheduled to be repaid before June 30, 2020, however, Carbon requested a payment holiday as a result of the impact of the COVID-19 pandemic on its business. The parties had not agreed to new repayment terms as of March 31, 2022. However, the Company acknowledges the unexpected and ongoing challenges facing Carbon and determined in June 2021 to create an allowance for doubtful loans receivable of $3.0 million due to these circumstances and ongoing operating losses incurred by Carbon.

Investment in 7.625% of Cedar Cellular Investment 1 (RF) (Pty) Ltd 8.625% notes represents the investment in a note which matures in August 2022. The carrying value as of each of March 31, 2022 and June 30, 2021, respectively was $0 (nil). The note is included in other long-term assets as of June 30, 2021 (refer to Note 5).

Other receivables include prepayments, deposits and other receivables.

Contractual maturities of held to maturity investments

Summarized below is the contractual maturity of the Company’s held to maturity investment as of March 31, 2022:

Cost basis

Estimated fair value⁽¹⁾

Due in one year or less

Due in one year through five years⁽²⁾

Due in five years through ten years

Due after ten years

Total

(1) The estimated fair value of the Cedar Cellular note has been calculated utilizing the Company’s portion of the security provided to the Company by Cedar Cellular, namely, Cedar Cellular’s investment in Cell C.

(2) The cost basis is zero ($0.0 million).

Finance loans receivable, net

The Company’s finance loans receivable, net, as of March 31, 2022, and June 30, 2021, are presented in the table below:

		March 31,		June 30,
		2022		2021

Microlending finance loans receivable, net		$	22,196	$	21,142
Microlending finance loans receivable, gross			24,662		23,491
Allowance for doubtful finance loans receivable, end of period			2,466		2,349
	Beginning of period		2,349		1,858
	Reversed to statement of operations		-		(1,004)
	Charged to statement of operations		1,026		2,060
	Utilized		(873)		(967)
	Foreign currency adjustment		(36)		402


	Total finance loans receivable, net	$	22,196	$	21,142