Note 7 - Other Assets

12 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Other Assets Disclosure [Text Block]

NOTE 7. OTHER ASSETS

Other Current Assets

Other current assets totaling

$603,944

as of

June 30, 2020

 and

$546,105

as of

June 30, 2019

are comprised of various components as listed below.

	As of June 30, 2020		As of June 30, 2019
Prepaid expenses	$	394,473	$	462,215
Other current assets		209,471		83,890
Total	$	603,944	$	546,105

Investments

Wainwright, from time to time, provides initial investment in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within

one

year of the balance sheet date. Investments in which

no

controlling financial interest or significant influence exists are recorded at fair value with the change included in earnings on the Consolidated Statements of Operations. Investments in which

no

controlling financial interest exists, but significant influence exists are recorded per the equity method of investment accounting. As of

June 30, 2020

and

2019,

there were

no

investments in its ETP funds or investments requiring equity method investment accounting. As of

June 30, 2020

and

2019,

investments were approximately

$1.8

million and

$3.8

million, respectively.

Investments measured at estimated fair value consist of the following as of  

June 30, 2020

 and

June 30, 2019

:

	As of June 30, 2020
			Gross		Gross			Estimated
			Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Money market funds	$	1,044,446	$	5,161	$	-		$	1,049,607
Other short term investments		770,094		-		-			770,094
Other equities		1,421		-		(606	)		815
Total short-term investments	$	1,815,961	$	5,161	$	(606	)	$	1,820,516

	As of June 30, 2019
			Gross		Gross			Estimated
			Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Money market funds	$	3,005,182	$	-	$	-		$	3,005,182
Other short term investments		749,988		-		(739	)		749,249
Other equities		3,421		-		(1,256	)		2,165
Total short-term investments	$	3,758,591	$	-	$	(1,995	)	$	3,756,596

The following tables summarize the valuation of the Company's securities at

June 30, 2020

 and

June 30, 2019

using the fair value hierarchy:

	As of June 30, 2020
	Total		Level 1		Level 2		Level 3
Money market funds	$	1,049,607	$	1,049,607	$	-	$	-
Other short term investments		770,094		770,094		-		-
Other equities		815		815		-		-
Total	$	1,820,516	$	1,820,516	$	-	$	-

	As of June 30, 2019
	Total		Level 1		Level 2		Level 3
Money market funds	$	3,005,182	$	3,005,182	$	-	$	-
Other short term investments		749,249		749,249		-		-
Other equities		2,165		2,165		-		-
Total	$	3,756,596	$	3,756,596	$	-	$	-

During the years ended

June 30, 2020

 and

2019

, there were

no

transfers between Level

1

and Level

2.

Restricted Cash

At

June 30, 2020

and

2019

, Gourmet Foods had on deposit approximately

NZ

$20,000

(approximately

US$12,854

and

US$13,437,

respectively after currency translation) securing a lease bond for

one

of its properties. The cash securing the bond is restricted from access or withdrawal so long as the bond remains in place.

Long - Term Assets

Other long term assets totaling

$523,607

 at

June 30, 2020

and

June 30, 2019

, respectively, were attributed to Wainwright and Original Sprout and consisted of

(i)	$500,000 as of June 30, 2020 and June 30, 2019 representing 10% equity investment in a registered investment adviser accounted for on a cost basis, minus impairment, which we believe approximates fair value, given the lack of observable price changes in orderly transactions. There was no impairment recorded for the years ended June 30, 2020 and June 30, 2019;
(ii)	and $23,607 as of June 30, 2020 and June 30, 2019 representing deposits and prepayments of rent.