for example , the jv company incurs debt through its own financing and bank loan agreements , and our parent company and other subsidiaries are not parties to these agreements and do not provide any guarantee or security for the jv company 's debt , nor do we have direct access to any cash proceeds borrowed from such loan agreements . as part of our strategic plan , we built the jv company to fulfill growing customer demand . in fact , in the quarter ended june 30 , 2020 , the jv company made a major contribution to capturing increasing demand for our products . even though the covid-19 pandemic has slowed its production , we are continuing to make progress . the jv company had been ramping up its production of assembly and testing during the fiscal year 2020. the 12-inch wafer fabrication facility commenced its limited mass production in the quarter ended september 30 , 2019 and continued its ramp in the year ended june 30 , 2020. importantly , the jv company achieved a positive ebitdas in the fourth quarter of fiscal year 2020. for the quarter ending september 30 , 2020 , we expect the jv company to sequentially increase its production of its 12-inch wafer fabrication and assembly and test . our current goal is to achieve phase 1 target run rate in the quarter ending september 30 , 2021. however , the impact of the global covid-19 pandemic and related economic downturn , intensified geopolitical tensions , logistical difficulties and other factors beyond our control could delay our plan . we will continue to monitor and evaluate market conditions closely during this period and react quickly to the changing environment as necessary to achieve an optimal production level at the jv company . we expect the joint venture to provide much needed capacity to support our future growth , enhance our market positions in china , and drive improvements in capital expenditures . on september 5 , 2017 , we entered into a license agreement with stmicroelectronics international n.v. ( “ stmicro ” ) , pursuant to which stmicro granted us a world-wide , royalty-free and fully-paid license to use its technologies to develop , market and distribute certain digital multi-phase controller products , which have been previously offered by stmicro . as of june 30 , 2020 , we recorded $ 16.2 million as intangible assets . we will begin to amortize such intangible asset during the 44 september 2020 quarter , which is when the technology meets qualification requirements and becomes ready for its intended use in production . during the fiscal year ended june 30 , 2020 , we continued our diversification program by developing new silicon and packaging platforms to expand our serviceable available market , or sam and offer higher performance products . our metal-oxide-semiconductor field-effect transistors , or mosfet , portfolio expanded significantly across a full range of voltage applications . impact of covid-19 pandemic to our business our business operations have been impacted by the global covid-19 pandemic and the resulting economic downturn . numerous governmental jurisdictions , including the states of california , oregon and texas in the u.s. and countries throughout the asia pacific region have imposed “ stay-at-home ” orders , quarantines , travel bans and similar governmental orders and restrictions to control the spread of covid-19 . such orders and restrictions have resulted in business closures , work stoppages , slowdowns and delays in commercial activities , unprecedented and widespread unemployment , disruptions to ports and other shipping infrastructure , border closures , and other travel or health-related restrictions , thereby negatively impacting our customers , suppliers , distributors , employees , offices , and the entire semiconductor ecosystem . as a result of the covid-19 pandemic and changing consumer behaviors due to various “ stay-at-home ” restrictions , we have experienced shifting market trends , including an increasing demand in markets for notebooks , pcs and gaming devices and decreasing demand for mobile phone products . while we have recently benefited from the increasing demand for pc related products , there is no guarantee that this trend will continue , and such increasing demand may discontinue as government authorities relax covid-19 related restrictions . furthermore , as the covid-19 pandemic continues and global economic downturn and high unemployment persist , consumer spending in general may slow down substantially , in which case we may experience a significant decline of customer orders for our products , including those designed for pc-related applications , and such decline is expected to adversely affect our financial conditions and results of operations . in an effort to protect the health and safety of our employees and to comply with various government and regulatory guidelines , we took proactive actions from the early signs of the covid-19 outbreak in china to adopt policies and protocols at our locations around the world , including social distancing guidelines , working from home , limiting the number of employees attending meetings , reducing the number of people in our sites at any one time , and suspending employee travel . as the covid-19 pandemic reached the u.s. , and federal and state authorities imposed “ stay-at-home ” orders , we have taken similar proactive actions in california , oregon and texas where we have business activities in order to protect the health and safety of our employees , while maintaining our core operations . we expect these measures will result in difficulties and logistical challenges in our business operations , and in some cases , reduce the productivity of our workforce and cause disruptions and delays in shipping products to our customers . this may impact our ability to respond quickly and effectively to changing market demands as the covid-19 pandemic continues to cause economic disruption and recession around the globe . story_separator_special_tag we establish accruals for potential liabilities and contingencies based on a more likely than not threshold to the recognition and de-recognition of uncertain tax positions . if the recognition threshold is met , the applicable accounting guidance permits us to recognize a tax benefit measured at the largest amount of tax benefit that is more likely than not to be realized upon settlement with a taxing authority . if the actual tax outcome of such exposures is different from the amounts that were initially recorded , the differences will impact the income tax and deferred tax provisions in the period in which such determination is made . changes in the location of taxable income ( loss ) could result in significant changes in our income tax expense . we record a valuation allowance against deferred tax assets if it is more likely than not that a portion of the deferred tax assets will not be realized , based on historical profitability and our estimate of future taxable income in a particular jurisdiction . our judgments regarding future taxable income may change due to changes in market conditions , changes in tax laws , tax planning strategies or other factors . if our assumptions and consequently our estimates change in the future , the deferred tax assets may increase or decrease , resulting in corresponding changes in income tax expense . our effective tax rate is highly dependent upon the geographic distribution of our worldwide profits or losses , the tax laws and regulations in each geographical region where we have operations , the availability of tax credits and carry-forwards and the effectiveness of our tax planning strategies . 48 during the quarter ended september 30 , 2016 , we contributed certain packaging equipment as required by the jv agreement by transferring the legal title of such equipment to the jv company . as a result of the transfer , we reduced our deferred tax assets by $ 6.6 million and recorded a $ 6.6 million as a prepaid tax asset , which was to be amortized to tax expense over the useful life of the assets . as of june 30 , 2017 , the prepaid tax asset was amortized down to $ 5.5 million , of which $ 1.1 million and $ 4.4 million were included in prepaid and other current assets and in other long-term assets on our balance sheet , respectively . on july 1 , 2017 , we adopted asu 2016-16 , intra-entity transfers of assets other than inventory , which resulted in a de-recognition of a prepaid tax asset of $ 5.5 million related to the prior period intra-entity asset transfer with the jv company , with an offsetting reduction to retained earnings . because the jv company has a full valuation allowance , there was no change to our net deferred tax assets . u.s. tax cuts and jobs act , enacted december 22 , 2017 on december 22 , 2017 , the united states enacted tax reform legislation through the tax cuts and jobs act ( “ the tax act ” ) , which significantly changes the existing u.s. tax laws , including , but not limited to , ( 1 ) a reduction in the corporate tax rate from 35 % to 21 % , ( 2 ) a shift from a worldwide tax system to a territorial system , ( 3 ) eliminating the corporate alternative minimum tax ( amt ) and changing how existing amt credits can be realized , ( 4 ) bonus depreciation that will allow for full expensing of qualified property , ( 5 ) creating a new limitation on deductible interest expense and ( 6 ) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after december 31 , 2017. the sec staff issued staff accounting bulletin no . 118 ( `` sab 118 `` ) , which provides guidance on accounting for the tax effects of the tax act . sab 118 provides a measurement period that should not extend beyond one year from the tax act enactment date for companies to complete the accounting under accounting standards codification topic 740 ( `` asc 740 `` ) . in accordance with sab 118 , a company must reflect the income tax effects of those aspects of the tax act for which the accounting under asc 740 is complete . to the extent that a company 's accounting for certain income tax effects of the tax act is incomplete but it is able to determine a reasonable estimate , it must record a provisional estimate in the financial statements . if a company can not determine a provisional estimate to be included in the financial statements , it should continue to apply asc 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the tax act . in connection with our initial analysis of the impact of the tax act , we reported a discrete tax benefit of $ 2.7 million for the second quarter of fiscal year 2018 related to the re-measurement of certain deferred tax assets and liabilities . the $ 2.7 million tax benefit related to the tax rate re-measurement estimated in the second quarter of fiscal year 2018 was reduced downward by $ 0.2 million in the fourth quarter of fiscal year 2018 , to $ 2.5 million . in addition , we used a 28 % u.s. federal tax rate to measure our u.s. federal income tax expense for fiscal year 2018 , down from the 34 % u.s. federal income tax rate used in first quarter of fiscal year 2018. u.s. coronavirus aid , relief and economic security act ” ( “ cares act ” ) , enacted march 27 , 2020 on march 27 , 2020 , the united states enacted the coronavirus aid , relief and economic security act (

net cash provided by operating activities of $ 62.3 million for fiscal year 2020 resulted primarily from net loss of $ 18.3 million , non-cash charges of $ 56.1 million and net change in assets and liabilities providing net cash of $ 24.4 million . the non-cash charges of $ 56.1 million included depreciation and amortization expenses of $ 45.1 million , share-based compensation expense of $ 10.5 million , impairment of our investment in a privately-held start-up company of $ 0.6 million , gain on disposal of property and equipment of $ 0.1 million , and net deferred income taxes of $ 0.1 million . the net change in assets and liabilities providing net cash of $ 24.4 million was primarily due to $ 27.3 million decrease in other current and long-term assets primarily due to increase in advance payments to suppliers , $ 11.0 million decrease in accounts receivable due to timing of billings and collection of payments , and $ 11.0 million increase in accrued and other liabilities , partially offset by $ 22.8 million increase in inventories , $ 1.8 million decrease in accounts payable primarily due to timing of payments , and $ 0.3 million decrease in income taxes payable . net cash provided by operating activities of $ 31.4 million for fiscal year 2019 resulted primarily from net loss of $ 14.6 million , non-cash charges of $ 44.8 million and net change in assets and liabilities providing net cash of $ 1.3 million . the non-cash charges of $ 44.8 million included depreciation and amortization expenses of $ 32.0 million , share-based compensation expense of $ 13.2 million , and net deferred income taxes of $ 0.5 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities of $ 62.3 million for fiscal year 2020 resulted primarily from net loss of $ 18.3 million , non-cash charges of $ 56.1 million and net change in assets and liabilities providing net cash of $ 24.4 million . the non-cash charges of $ 56.1 million included depreciation and amortization expenses of $ 45.1 million , share-based compensation expense of $ 10.5 million , impairment of our investment in a privately-held start-up company of $ 0.6 million , gain on disposal of property and equipment of $ 0.1 million , and net deferred income taxes of $ 0.1 million . the net change in assets and liabilities providing net cash of $ 24.4 million was primarily due to $ 27.3 million decrease in other current and long-term assets primarily due to increase in advance payments to suppliers , $ 11.0 million decrease in accounts receivable due to timing of billings and collection of payments , and $ 11.0 million increase in accrued and other liabilities , partially offset by $ 22.8 million increase in inventories , $ 1.8 million decrease in accounts payable primarily due to timing of payments , and $ 0.3 million decrease in income taxes payable . net cash provided by operating activities of $ 31.4 million for fiscal year 2019 resulted primarily from net loss of $ 14.6 million , non-cash charges of $ 44.8 million and net change in assets and liabilities providing net cash of $ 1.3 million . the non-cash charges of $ 44.8 million included depreciation and amortization expenses of $ 32.0 million , share-based compensation expense of $ 13.2 million , and net deferred income taxes of $ 0.5 million .
```    
 Suspicious Activity Report : for example , the jv company incurs debt through its own financing and bank loan agreements , and our parent company and other subsidiaries are not parties to these agreements and do not provide any guarantee or security for the jv company 's debt , nor do we have direct access to any cash proceeds borrowed from such loan agreements . as part of our strategic plan , we built the jv company to fulfill growing customer demand . in fact , in the quarter ended june 30 , 2020 , the jv company made a major contribution to capturing increasing demand for our products . even though the covid-19 pandemic has slowed its production , we are continuing to make progress . the jv company had been ramping up its production of assembly and testing during the fiscal year 2020. the 12-inch wafer fabrication facility commenced its limited mass production in the quarter ended september 30 , 2019 and continued its ramp in the year ended june 30 , 2020. importantly , the jv company achieved a positive ebitdas in the fourth quarter of fiscal year 2020. for the quarter ending september 30 , 2020 , we expect the jv company to sequentially increase its production of its 12-inch wafer fabrication and assembly and test . our current goal is to achieve phase 1 target run rate in the quarter ending september 30 , 2021. however , the impact of the global covid-19 pandemic and related economic downturn , intensified geopolitical tensions , logistical difficulties and other factors beyond our control could delay our plan . we will continue to monitor and evaluate market conditions closely during this period and react quickly to the changing environment as necessary to achieve an optimal production level at the jv company . we expect the joint venture to provide much needed capacity to support our future growth , enhance our market positions in china , and drive improvements in capital expenditures . on september 5 , 2017 , we entered into a license agreement with stmicroelectronics international n.v. ( “ stmicro ” ) , pursuant to which stmicro granted us a world-wide , royalty-free and fully-paid license to use its technologies to develop , market and distribute certain digital multi-phase controller products , which have been previously offered by stmicro . as of june 30 , 2020 , we recorded $ 16.2 million as intangible assets . we will begin to amortize such intangible asset during the 44 september 2020 quarter , which is when the technology meets qualification requirements and becomes ready for its intended use in production . during the fiscal year ended june 30 , 2020 , we continued our diversification program by developing new silicon and packaging platforms to expand our serviceable available market , or sam and offer higher performance products . our metal-oxide-semiconductor field-effect transistors , or mosfet , portfolio expanded significantly across a full range of voltage applications . impact of covid-19 pandemic to our business our business operations have been impacted by the global covid-19 pandemic and the resulting economic downturn . numerous governmental jurisdictions , including the states of california , oregon and texas in the u.s. and countries throughout the asia pacific region have imposed “ stay-at-home ” orders , quarantines , travel bans and similar governmental orders and restrictions to control the spread of covid-19 . such orders and restrictions have resulted in business closures , work stoppages , slowdowns and delays in commercial activities , unprecedented and widespread unemployment , disruptions to ports and other shipping infrastructure , border closures , and other travel or health-related restrictions , thereby negatively impacting our customers , suppliers , distributors , employees , offices , and the entire semiconductor ecosystem . as a result of the covid-19 pandemic and changing consumer behaviors due to various “ stay-at-home ” restrictions , we have experienced shifting market trends , including an increasing demand in markets for notebooks , pcs and gaming devices and decreasing demand for mobile phone products . while we have recently benefited from the increasing demand for pc related products , there is no guarantee that this trend will continue , and such increasing demand may discontinue as government authorities relax covid-19 related restrictions . furthermore , as the covid-19 pandemic continues and global economic downturn and high unemployment persist , consumer spending in general may slow down substantially , in which case we may experience a significant decline of customer orders for our products , including those designed for pc-related applications , and such decline is expected to adversely affect our financial conditions and results of operations . in an effort to protect the health and safety of our employees and to comply with various government and regulatory guidelines , we took proactive actions from the early signs of the covid-19 outbreak in china to adopt policies and protocols at our locations around the world , including social distancing guidelines , working from home , limiting the number of employees attending meetings , reducing the number of people in our sites at any one time , and suspending employee travel . as the covid-19 pandemic reached the u.s. , and federal and state authorities imposed “ stay-at-home ” orders , we have taken similar proactive actions in california , oregon and texas where we have business activities in order to protect the health and safety of our employees , while maintaining our core operations . we expect these measures will result in difficulties and logistical challenges in our business operations , and in some cases , reduce the productivity of our workforce and cause disruptions and delays in shipping products to our customers . this may impact our ability to respond quickly and effectively to changing market demands as the covid-19 pandemic continues to cause economic disruption and recession around the globe . story_separator_special_tag we establish accruals for potential liabilities and contingencies based on a more likely than not threshold to the recognition and de-recognition of uncertain tax positions . if the recognition threshold is met , the applicable accounting guidance permits us to recognize a tax benefit measured at the largest amount of tax benefit that is more likely than not to be realized upon settlement with a taxing authority . if the actual tax outcome of such exposures is different from the amounts that were initially recorded , the differences will impact the income tax and deferred tax provisions in the period in which such determination is made . changes in the location of taxable income ( loss ) could result in significant changes in our income tax expense . we record a valuation allowance against deferred tax assets if it is more likely than not that a portion of the deferred tax assets will not be realized , based on historical profitability and our estimate of future taxable income in a particular jurisdiction . our judgments regarding future taxable income may change due to changes in market conditions , changes in tax laws , tax planning strategies or other factors . if our assumptions and consequently our estimates change in the future , the deferred tax assets may increase or decrease , resulting in corresponding changes in income tax expense . our effective tax rate is highly dependent upon the geographic distribution of our worldwide profits or losses , the tax laws and regulations in each geographical region where we have operations , the availability of tax credits and carry-forwards and the effectiveness of our tax planning strategies . 48 during the quarter ended september 30 , 2016 , we contributed certain packaging equipment as required by the jv agreement by transferring the legal title of such equipment to the jv company . as a result of the transfer , we reduced our deferred tax assets by $ 6.6 million and recorded a $ 6.6 million as a prepaid tax asset , which was to be amortized to tax expense over the useful life of the assets . as of june 30 , 2017 , the prepaid tax asset was amortized down to $ 5.5 million , of which $ 1.1 million and $ 4.4 million were included in prepaid and other current assets and in other long-term assets on our balance sheet , respectively . on july 1 , 2017 , we adopted asu 2016-16 , intra-entity transfers of assets other than inventory , which resulted in a de-recognition of a prepaid tax asset of $ 5.5 million related to the prior period intra-entity asset transfer with the jv company , with an offsetting reduction to retained earnings . because the jv company has a full valuation allowance , there was no change to our net deferred tax assets . u.s. tax cuts and jobs act , enacted december 22 , 2017 on december 22 , 2017 , the united states enacted tax reform legislation through the tax cuts and jobs act ( “ the tax act ” ) , which significantly changes the existing u.s. tax laws , including , but not limited to , ( 1 ) a reduction in the corporate tax rate from 35 % to 21 % , ( 2 ) a shift from a worldwide tax system to a territorial system , ( 3 ) eliminating the corporate alternative minimum tax ( amt ) and changing how existing amt credits can be realized , ( 4 ) bonus depreciation that will allow for full expensing of qualified property , ( 5 ) creating a new limitation on deductible interest expense and ( 6 ) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after december 31 , 2017. the sec staff issued staff accounting bulletin no . 118 ( `` sab 118 `` ) , which provides guidance on accounting for the tax effects of the tax act . sab 118 provides a measurement period that should not extend beyond one year from the tax act enactment date for companies to complete the accounting under accounting standards codification topic 740 ( `` asc 740 `` ) . in accordance with sab 118 , a company must reflect the income tax effects of those aspects of the tax act for which the accounting under asc 740 is complete . to the extent that a company 's accounting for certain income tax effects of the tax act is incomplete but it is able to determine a reasonable estimate , it must record a provisional estimate in the financial statements . if a company can not determine a provisional estimate to be included in the financial statements , it should continue to apply asc 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the tax act . in connection with our initial analysis of the impact of the tax act , we reported a discrete tax benefit of $ 2.7 million for the second quarter of fiscal year 2018 related to the re-measurement of certain deferred tax assets and liabilities . the $ 2.7 million tax benefit related to the tax rate re-measurement estimated in the second quarter of fiscal year 2018 was reduced downward by $ 0.2 million in the fourth quarter of fiscal year 2018 , to $ 2.5 million . in addition , we used a 28 % u.s. federal tax rate to measure our u.s. federal income tax expense for fiscal year 2018 , down from the 34 % u.s. federal income tax rate used in first quarter of fiscal year 2018. u.s. coronavirus aid , relief and economic security act ” ( “ cares act ” ) , enacted march 27 , 2020 on march 27 , 2020 , the united states enacted the coronavirus aid , relief and economic security act (

