Note 4 - Short-Term Financial Instruments

12 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Financial Instruments Disclosure [Text Block]

( 4 ) Short-Term Financial Instruments

Financial Assets (in millions)

	As of June 30,
	201 5		201 4
Financial assets:
Cash and cash equivalents	$	44.7	$	81.7
Accounts receivable, net of allowance		12.6		18.7
Short-term investments		12.9		-
Total current financial assets		70.2		100.4
Financial liabilities:
Accounts payable and current accrued liabilities		8.3		26.0
Short-term note payable		0.2		-
Total current financial liabilities		8.5		26.0
Net financial assets	$	61.7	$	74.4

The carrying value of the cash and cash equivalents, accounts receivable, short-term note payable and accounts payable approximates fair value because of their short-term nature. The Company regularly reviews all financial assets for impairment. There were no impairments recognized in 2015 and 2014

.