3. TERM DEPOSITS

12 Months Ended

Jun. 30, 2016

Term Deposits

TERM DEPOSITS (IN THOUSANDS, EXCEPT EARNINGS PER SHARE AND NUMBER OF SHARES)

		For the Year Ended June 30,
		2016		2015
Short-term deposits	$		295	$	101
Restricted term deposits			2,067		2,140
Total	$		2,362	$	2,241

Restricted deposits represent the amount of cash pledged to secure loans payable granted by financial institutions and serve as collateral for public utility agreements such as electricity and water and performance bonds related to customs duty payable. Restricted deposits are classified as non-current assets, as they relate to long-term obligations and will become unrestricted only upon discharge of the obligations. Short-term deposits represent bank deposits, which do not qualify as cash equivalents.