Financial Instruments

12 Months Ended

Jun. 30, 2018

Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]

Financial Instruments

7.Financial Instruments

The following table presents our investments at June 30, 2018 and 2017 that are measured and recorded at fair value on a recurring basis consistent with the fair value hierarchy provisions of ASC 820 (in thousands).  The fair value of our short-term investments approximates their cost basis.

Description	June 30, 2018		Level 1		Level 2		Level 3
Mutual funds	$	23	$	23	$	-	$	-
Time/Fixed Deposits and Bank Guarantees		854		-		854		-
Preferred Stock		725		-		-		725
Total	$	1,602	$	23	$	854	$	725
Description	June 30, 2017		Level 1		Level 2		Level 3
Time/Fixed Deposits and Bank Guarantees	$	1,572	$	-	$	1,572	$	-
Preferred Stock		725		-		-		725
Total	$	2,297	$	-	$	1,572	$	725

Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates.  During fiscal years 2018 and 2017, we did not record any other-than-temporary impairments on our financial assets required to be measured on a recurring basis.