FINANCIAL INFORMATION BY BUSINESS SEGMENT

9 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

FINANCIAL INFORMATION BY BUSINESS SEGMENT

FINANCIAL INFORMATIONBY BUSINESS SEGMENT

The Company operates principally in two business segments: providing investment management services to the funds it manages and investing for its own account in an effort to add growth and value to its cash position. The following schedule details total revenues and income by business segment:

	Investment Management Services			Corporate Investments			Consolidated
Nine months ended March 31, 2014
Net operating revenues	$	8,533,777		$	—		$	8,533,777
Net other income	$	—		$	1,497,407		$	1,497,407
Income (loss) from continuing operations before income taxes	$	(2,949,678	)	$	1,490,850		$	(1,458,828	)
Loss from discontinued operations	$	(238,094	)	$	—		$	(238,094	)
Depreciation	$	190,471		$	—		$	190,471
Capital expenditures	$	—		$	—		$	—
Gross identifiable assets at March 31, 2014	$	10,075,154		$	26,009,296		$	36,084,450
Deferred tax asset							$	395,710
Consolidated total assets at March 31, 2014							$	36,480,160
Nine months ended March 31, 2013
Net operating revenues	$	13,858,747		$	—		$	13,858,747
Net other income	$	—		$	345,557		$	345,557
Income from continuing operations before income taxes	$	345,099		$	333,093		$	678,192
Loss from discontinued operations	$	(130,446	)	$	—		$	(130,446	)
Depreciation	$	206,329		$	—		$	206,329
Capital expenditures	$	39,158		$	—		$	39,158
Three months ended March 31, 2014
Net operating revenues	$	2,742,032		$	—		$	2,742,032
Net other income	$	—		$	403,299		$	403,299
Income (loss) from continuing operations before income taxes	$	(409,060	)	$	397,092		$	(11,968	)
Loss from discontinued operations	$	(1,916	)	$	—		$	(1,916	)
Depreciation	$	62,242					$	62,242
Capital expenditures	$	—		$	—		$	—
Three months ended March 31, 2013
Net operating revenues	$	4,472,982		$	—		$	4,472,982
Net other loss	$	—		$	(16,081	)	$	(16,081	)
Income (loss) from continuing operations before income taxes	$	221,075		$	(22,490	)	$	198,585
Loss from discontinued operations	$	(74,460	)	$	—		$	(74,460	)
Depreciation	$	68,752		$	—		$	68,752
Capital expenditures	$	—		$	—		$	—