Note 12 - Financial Information by Business Segment

3 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 12. FINANCIAL INFORMATION BY BUSINESS SEGMENT

The Company operates principally in two business segments: providing investment management services to USGIF and ETF clients; and investing for its own account in an effort to add growth and value to its cash position. The following schedule details gross identifiable assets, total revenues, and income by business segment.

(dollars in thousands)	Investment Management Services			Corporate Investments			Consolidated
Three Months Ended September 30, 2024
Operating revenues	$	2,157		$	-		$	2,157
Net investment income (loss)	$	-		$	917		$	917
Other income (loss)	$	78		$	-		$	78
Income (loss) before income taxes	$	(457	)	$	893		$	436
Depreciation	$	22		$	-		$	22
Gross identifiable assets at September 30, 2024	$	27,188		$	22,092		$	49,280
Deferred tax asset							$	1,804
Consolidated total assets at September 30, 2024							$	51,084
Three Months Ended September 30, 2023
Operating revenues	$	3,133		$	-		$	3,133
Net investment income (loss)	$	-		$	(513	)	$	(513	)
Other income (loss)	$	57		$	-		$	57
Income (loss) before income taxes	$	288		$	(529	)	$	(241	)
Depreciation	$	61		$	-		$	61
Gross identifiable assets at September 30, 2023	$	26,954		$	24,851		$	51,805
Deferred tax asset							$	2,287
Consolidated total assets at September 30, 2023							$	54,092

Operating revenues from investment management services for the three months ended September 30, 2024, included $1.8 million from ETF clients and $393,000 from USGIF. For the same period in 2023, these revenues were $2.7 million from ETF clients and $424,000 from USGIF.