Note 7 - Other Assets

3 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Other Assets Disclosure [Text Block]

NOTE 7. OTHER ASSETS

Other Current Assets

Other current assets totaling

$355,619

as of 

September 30, 2020

and

$603,944

as of 

June 30, 2020

are comprised of various components as listed below.

	As of September 30, 2020		As of June 30, 2020
Deposits and prepaid expenses	$	258,887	$	394,473
Other current assets		96,732		209,471
Total	$	355,619	$	603,944

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 Income. Investments in which

no

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

September 30, 2020

and

June 30, 2020,

there were

no

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

September 30, 2020

and

June 30, 2020,

investments were approximately

$1.8

 million at each period end, respectively.

All of the Company's short-term investments are Level

1

as of

September 30, 2020

and 

June 30, 2020

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

September 30, 2020

and 

June 30, 2020

:

	September 30, 2020
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Money market funds	$	1,044,709	$	5,161	$	-		$	1,049,870
Other short term investments		772,525		987		-			773,512
Other equities		1,421				(525	)		896
Total short-term investments	$	1,818,655	$	6,148	$	(525	)	$	1,824,278

	June 30, 2020
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair 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

During the

three

months ended

September 30, 2020

and

2019

, there were

no

transfers between Level

1

and Level

2.

Restricted Cash

At

September 30, 2020

and 

June 30, 2020

, Gourmet Foods had on deposit approximately

NZ

$20,000

(approximately

US$13,201

and

US$12,854,

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

as of

September 30, 2020

and 

June 30, 2020

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

(i)	$500,000  as of September 30, 2020 and  June 30, 2020 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 three months ended September 30, 2020 or year ended June 30, 2020;
(ii)	and $23,607  as of September 30, 2020 and  June 30, 2020 representing deposits and prepayments of rent.