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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (8,679) $ (13,127)
Net income from discontinued operations (649) (219)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 8,669 10,782
Stock-based compensation [1] 1,755 548
Sales of investments by consolidated funds 5,842  
Purchases of investments by consolidated funds (31,365)  
Stock dividends received from GECC (1,868) (279)
Unrealized (gain) loss on investments (292) 8,684
Realized loss on investments 137  
Unrealized (gain) on investments of consolidated funds (254)  
Realized (gain) on investments of consolidated funds (291)  
Non-cash interest and amortization of capitalized issuance costs 2,522 881
Loss on extinguishment of debt 1,866  
Deferred tax expense 684 36
Other non-cash expense, net 1,553 1,453
Gain on sale of equipment held for rental (452) (932)
Change in fair value of contingent consideration (126) (1,135)
Changes in operating assets and liabilities:    
Related party receivable (606) 362
Accounts receivable 2,099 841
Inventories 617 (134)
Prepaid assets, deposits, and other assets (3,223) (190)
Operating leases (1,563) (1,462)
Related party payable   (805)
Deferred revenues (1,214) 4,773
Accounts payable, accrued liabilities and other liabilities 3,931 1,022
Net cash provided by (used in) operating activities - continuing operations (20,907) 11,099
Net cash provided by operating activities - discontinued operations 1,931 2,146
Net cash provided by (used in) operating activities (18,976) 13,245
Cash flows from investing activities:    
Proceeds from settlement with seller   355
Acquisition of business, net of cash acquired (748)  
Purchases of investments (4,675)  
Sales of investments 35  
Participation in related party rights offering (8,751)  
Purchases of equipment held for rental (6,686) (8,110)
Proceeds from sale of equipment held for rental 1,273 1,800
Purchases of property and equipment (287) (737)
Proceeds from sale of property and equipment   60
Net cash used in investing activities - continuing operations (19,839) (6,632)
Net cash provided by investing activities - discontinued operations 4,357  
Net cash used in investing activities (15,482) (6,632)
Cash flows from financing activities:    
Proceeds on revolving line of credit   2,550
Principal payments on revolving line of credit (3,900) (6,050)
Principal payments on note payable to seller (25,105) (2,552)
Principal payments on equipment financing (4,378) (2,857)
Proceeds from equipment financing 3,642 3,612
Capitalized issuance costs (1,250) (768)
Due to broker of consolidated funds 11,249  
Payments made to non-controlling interest holders (132)  
Proceeds from convertible notes   30,000
Payments of debt extinguishment costs (1,627)  
Proceeds from subscriptions of non-controlling interests in consolidated funds 4,825  
Net cash provided by financing activities - continuing operations 20,666 23,935
Net cash used in financing activities - discontinued operations (2,326) (2,159)
Net cash provided by financing activities 18,340 21,776
Net increase (decrease) in cash and cash equivalents (16,118) 28,389
Cash and cash equivalents at beginning of year 40,500 12,111
Cash and cash equivalents at end of year 24,382 40,500
Cash paid for interest 2,815 3,540
Non-cash investing and financing activities    
Deferred financing costs incurred but not yet paid   397
Lease liabilities and right of use assets arising from operating leases 1,121 $ 607
Contingent consideration 397  
Distribution of HC LLC (as defined below) preferred stock to non-controlling interest holders of DME Inc. 1,608  
Repurchase of GP Corp. Note 3,072  
Issuance of convertible notes 2,250  
DME, Inc.    
Cash flows from financing activities:    
Dividends paid to non-controlling interest holders of DME Inc. (368)  
Forest Investments, Inc. (Forest)    
Cash flows from financing activities:    
Issuance of Forest preferred stock 35,010  
Proceeds from issuance of Forest common stock, gross $ 2,700  
[1]

Stock-based compensation attributable to the investment management segment is included in investment management expenses in the consolidated statements of operations. Stock-based compensation attributable to the general corporate segment is included in selling, general and administrative expense in the consolidated statements of operations.