Short-Term And Long-Term Investments

3 Months Ended

Sep. 30, 2019

6.Short-Term and Long-Term Investments

As of September 30, 2019, and June 30, 2019, we held restricted cash in short-term bank guarantees. The restricted cash provides financial assurance that we will fulfill certain customer obligations in China. The cash is restricted as to withdrawal or use while the related bank guarantee is outstanding. Interest is earned on the restricted cash and recorded as interest income. As of September 30, 2019, and June 30, 2019, we had short-term bank guarantees of $228,000 and $258,000, respectively.

At September 30, 2019, we held a long-term investment in preferred stock that is not registered under the Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The preferred stock investment is currently recorded at $725,000 after consideration of impairment charges recorded in fiscal years 2008 and 2009. At September 30, 2019 there were no changes to the carrying value of the investment resulting from observable price changes in orderly transactions for an identical or similar investment in the issuer.

The following table presents our Short-Term and Long-Term Investments by category at September 30, 2019 and June 30, 2019 (in thousands):

	September 30, 2019
	Cost		Fair Value or Carrying Value
Short-Term Investments
Bank Guarantees	$	228	$	228
Time/Fixed Deposits		494		494
Total Short-Term Investments	$	722	$	722

Long-Term Investments
Preferred Stock	$	3,700	$	725
Total Long-Term Investments		3,700		725

Total Investments	$	4,422	$	1,447


	June 30, 2019
	Cost		Fair Value or Carrying Value
Short-Term Investments
Bank Guarantees	$	258	$	258
Time/Fixed Deposits		1,173		1,173
Total Short-Term Investments	$	1,431	$	1,431

Long-Term Investments
Preferred Stock	$	3,700	$	725
Total Long-Term Investments	$	3,700	$	725

Total Investments	$	5,131	$	2,156