Short-Term and Long-Term Investments

12 Months Ended

Jun. 30, 2020

Investments [Abstract]

Short-Term and Long-Term Investments

8.Short-Term and Long-Term Investments

As of June 30, 2020 and 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 June 30, 2020 and June 30, 2019 we had short-term bank guarantees of $355,000 and $258,000, respectively.  

At June 30, 2020, 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 investment does not have a readily determinable fair value.  The preferred stock investment is recorded at $725,000 after consideration of impairment charges recorded in fiscal 2008 and 2009.  In fiscal 2020 and 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 June 30, 2020 and 2019 (in thousands):

	June 30, 2020
Short-Term Investments	Cost		Fair Value or Carrying Value
Bank Guarantees	$	355	$	355
Total Short-Term Investments	$	355	$	355
Long-Term Investments
Preferred Stock	$	3,700	$	725
Total Long-Term Investments	$	3,700	$	725
Total Investments	$	4,055	$	1,080
	June 30, 2019
Short-Term Investments	Cost		Fair Value or Carrying Value
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