Note 12 - Financial Information by Business Segment

6 Months Ended

Dec. 31, 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
Six Months Ended December 31, 2024
Operating revenues	$	4,388		$	-	$	4,388
Net investment income (loss)	$	-		$	1,271	$	1,271
Other income (loss)	$	147		$	-	$	147
Income (loss) before income taxes	$	(914	)	$	1,234	$	320
Depreciation	$	38		$	-	$	38
Gross identifiable assets at December 31, 2024	$	27,259		$	20,990	$	48,249
Deferred tax asset						$	1,859
Consolidated total assets at December 31, 2024						$	50,108
Six Months Ended December 31, 2023
Operating revenues	$	5,951		$	-	$	5,951
Net investment income (loss)	$	-		$	903	$	903
Other income (loss)	$	115		$	-	$	115
Income (loss) before income taxes	$	553		$	871	$	1,424
Depreciation	$	123		$	-	$	123
Gross identifiable assets at December 31, 2023	$	27,417		$	24,085	$	51,502
Deferred tax asset						$	2,130
Consolidated total assets at December 31, 2023						$	53,632
Three Months Ended December 31, 2024
Operating revenues	$	2,231		$	-	$	2,231
Net investment income (loss)	$	-		$	354	$	354
Other income (loss)	$	69		$	-	$	69
Income (loss) before income taxes	$	(456	)	$	340	$	(116	)
Depreciation	$	16		$	-	$	16
Three Months Ended December 31, 2023
Operating revenues	$	2,818		$	-	$	2,818
Net investment income (loss)	$	-		$	1,416	$	1,416
Other income (loss)	$	57		$	-	$	57
Income (loss) before income taxes	$	266		$	1,399	$	1,665
Depreciation	$	62		$	-	$	62

Operating revenues from investment management services include operating revenues from ETF clients of $1.8 million and $3.6 million for the three and six months ended December 31, 2024, respectively, and $2.5 million and $5.2 million for the three and six months ended December 31, 2023, respectively. Operating revenues from investment management services also include operating revenues from USGIF of $402,000 and $795,000 for the three and six months ended December 31, 2024, respectively, and $356,000 and $780,000 for the three and six months ended December 31, 2023, respectively.