Short-Term And Long-Term Investments

3 Months Ended

Sep. 30, 2020

Investments [Abstract]

Short-Term and Long-Term Investments

5.Short-Term and Long-Term Investments

As of September 30, 2020 and June 30, 2020, the Company held restricted cash in short-term bank guarantees.  The restricted cash provides financial assurance that the Company 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, 2020 and June 30, 2020, the Company had short-term bank guarantees of $427,000 and $355,000, respectively.

At September 30, 2020, the Company 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, 2020 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 the Company’s Short-Term and Long-Term Investments by category at September 30, 2020 and June 30, 2020 (in thousands):

	September 30, 2020
	Cost		Fair Value or Carrying Value
Short-Term Investments
Bank Guarantees	$	427	$	427
Total Short-Term Investments	$	427	$	427
Long-Term Investments
Preferred Stock	$	3,700	$	725
Total Long-Term Investments		3,700		725
Total Investments	$	4,127	$	1,152
	June 30, 2020
	Cost		Fair Value or Carrying Value
Short-Term Investments
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