4. Investments

Fixed-Maturity and Equity Securities Investments

The following tables provide information relating to investments in fixed-maturity and equity securities:


			Unrealized		Unrealized
June 30, 2019	Cost		Gains		Losses		Fair Value
	(Amounts in thousands)
Equity securities
Common stock and common stock options	$	5,706	$	—	$	(1,185)	$	4,521
Common stock warrants		288		—		(287)		1
Preferred stock		2,883		—		—		2,883
Mutual funds		—		—		—		—
Total equity securities	$	8,877	$	—	$	(1,472)	$	7,405

	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Fixed-maturity securities
Corporate debt	$	25,761	$	—	$	(5,368)	$	20,393
Total fixed-maturity securities	$	25,761	$	—	$	(5,368)	$	20,393


			Unrealized		Unrealized
June 30, 2018	Cost		Gains		Losses		Fair Value
	(Amounts in thousands)
Equity securities
Common stock	$	5,239	$	491	$	(193)	$	5,537
Common stock warrants		288		—		(5)		283
Mutual funds		789		20		—		809
Total equity securities	$	6,316	$	511	$	(198)	$	6,629


	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Fixed-maturity securities
Commercial paper	$	3,294	$	—	$	—	$	3,294
Corporate debt		11,778		11		(1,702)		10,087
Total fixed-maturity securities	$	15,072	$	11	$	(1,702)	$	13,381

For the fiscal year ended June 30, 2018 and prior, equity securities were classified as “available for sale,” and as such, adjustments to fair value are recorded within other comprehensive income on the consolidated balance sheets as unrealized gains and losses. Upon our adoption of ASU 2016-01, effective July 1, 2018, changes in fair value of equity securities are recorded within the consolidated statements of operations as an unrealized loss on equity securities, net. During the fiscal year ended June 30, 2019, we reported a $1,785,000 unrealized loss on equity securities, net within our consolidated statement of operations. Additionally, we reported a $467,000 realized gain on the sale of debt and equity securities within our consolidated statement of operations.

Maturities of Fixed-Maturity Securities Available-for-Sale

The amortized cost and fair values of fixed-maturity securities available for sale as of June 30, 2019 are shown by contractual maturity in the table below. Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized
	Cost		Fair Value
	(Amounts in thousands)
Fixed-maturity securities
Due after one year through three years	$	17,877	$	12,941
Due after three years through five years		—		—
Due after five years through 10 years		7,884		7,452
Total fixed-maturity securities	$	25,761	$	20,393