Annual report pursuant to Section 13 and 15(d)

Long-Term Investments (Tables)

v3.19.2
Long-Term Investments (Tables)
 12 Months Ended
Jun. 30, 2019
Equity Method Investments and Cost Method Investments [Abstract]  
Schedule of Carrying Value and Ownership Percentage of Investment
The following table shows the carrying value and ownership percentage of the Company's investment in each entity:
 
 
 
June 30, 2019
 
June 30, 2018
Entity
 
Carrying Value
 
Ownership Percentage
 
Carrying Value
 
Ownership Percentage
 
 
 
(in thousands)
 
 
 
(in thousands)
 
 
Company A (1)
 
$
2,000

 
7.4
%
 
$
500

 
2.50
%
Company B
 
9,059

 
20.6
%
 
7,888

 
20.6
%
Company C (2)
 
826

 
10.0
%
 
—

 
—
%
 
 
$
11,885

 
 
 
$
8,388

 
 
 
 
 
 
 
 
 
 
 
 
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1)
In December 2018, the Company purchased additional shares of Company A's common stock for $1.5 million, thereby increasing the Company’s aggregate ownership interest from 2.5% to 7.4%. In January 2019, the Company obtained a voting seat on Company A's board of directors. Effective with the third quarter of fiscal 2019, the Company changed the accounting of this investment from the cost method to the equity method.
2)
 On January 9, 2019, the Company made an $800,000 investment in Company's C's common stock, representing 10% of its equity and obtained a voting seat on Company's C's board of directors.