our applied technologies business unit has an array of web and mobile applications and payment technologies , such as mvc , chip and gsm licensing and vtu , and has deployed solutions in many countries , including south africa , namibia , nigeria , malawi , cameroon , the philippines , india and colombia . sources of revenue we generate our revenues by charging transaction fees to government agencies , merchants , financial service providers , utility providers , bill issuers , employers ; and cardholders ; by providing loans and insurance products and by selling hardware , licensing software and providing related technology services . we have structured our business and our business development efforts around four related but separate approaches to deploying our technology . in our most basic approach , we act as a supplier , selling our equipment , software , and related technology to a customer . the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . 39 we have found that we have greater revenue and profit opportunities , however , by acting as a service provider instead of a supplier . in this approach we own and operate the ueps ourselves , charging one-time and on-going fees for the use of the system either on a fixed or ad valorem basis . this is the case in south africa , where we distribute welfare grants on behalf of the south african government on a fixed fee basis , provide bank accounts on a fixed fee basis , but charge a fee on an ad valorem basis for goods and services purchased using our smart card . the revenue and costs associated with this approach are reflected in our south african transaction processing and financial inclusion and applied technologies segments . because our smart cards are designed to enable the delivery of more advanced services and products , we are also willing to supply those services and products directly where the business case is compelling . for instance , we provide short-term loans to our smart card holders . this is an example of the third approach that we have taken . here we can act as the principal in operating a business that can be better delivered through our ueps . the revenue and costs are reflected in our financial inclusion and applied technologies segment . in south africa , we also generate fees from debit and credit card transaction processing , the provision of value-added services such as bill payments , mobile top-up and prepaid utility sales , and from providing a payroll transaction management service . the revenue and costs associated with these services are reflected in our south african transaction processing and financial inclusion and applied technologies segments . through ksnet , we earn most of our revenue from payment processing services we provide to approximately 240,000 merchants and to card issuers in south korea through our value-added-network . through ipg we generate fee revenue through the provision of payment service provider and card issuing and acquiring services in primarily germany , china and the u.s. we also generate fees from our customers who utilize our vcpay technology to generate a unique , one-time use prepaid virtual card number to securely purchase goods and services or perform bill payments in any card-not-present environment . the revenue and costs at of all of these businesses are reflected in our international transaction processing segment . finally , we have investments , business partnerships or joint ventures to introduce our financial technology solutions to markets such as bank frick in europe , finbond in south africa and north america , onefi in nigeria and mobikwik in india . in these situations , we take an equity position in the business while also acting as a supplier of technology . in evaluating these types of opportunities , we seek to maintain a highly disciplined approach , carefully selecting partners , participating closely in the development of the business plan and remaining actively engaged in the management of the new business . in most instances , the joint venture or partnership has a license to use our proprietary technologies in the specific territory , including the back-end system . we believe that this flexible approach enables us to drive adoption of our solution while capturing the value created by the implementation of our technology . developments during fiscal 2018 cps and sassa contract termination on march 23 , 2018 , the constitutional court ordered a six-month extension of our current contract with sassa , for the payment of grants in cash at pay points only , on the same terms and conditions as the contract that was due to expire on march 31 , 2018. accordingly , we have continued to pay grant recipients at pay points . while the court order was silent regarding the payment of the other 9.1 million grant recipients who access their grants utilizing pin or by biometric verification at pos and atms , we have continued to support the bank accounts that underpin these grant payments . as sassa is no longer paying us a service fee for the management of these accounts with effect from april 1 , 2018 , grant recipients now bear the cost for the fees associated with these accounts . sassa has indicated that grant recipients will be encouraged to open a commercial bank account of their choice in the future , including the special account offered by sapo for grant recipients . sassa reported in its september 2018 filing with the constitutional court the sassa ceo reported that 5,475,752 new sassa/sapo payment cards have been issued . the constitutional court further ordered that we may approach the national treasury to investigate and make a recommendation regarding the price to be paid for our contracted services during the six-month period . story_separator_special_tag the results of our impairment tests during fiscal 2018 indicated that the fair value of our reporting units exceeded their carrying values and therefore our reporting units were not at risk of potential impairment , with the exception of the $ 19.9 million of goodwill impaired during the third quarter of fiscal 2018 and goodwill of $ 1.1 million allocated to a business that ceased trading during the year . intangible assets acquired through acquisitions the fair values of the identifiable intangible assets acquired through acquisitions were determined by management using the purchase method of accounting . we completed acquisitions during fiscal 2018 , 2017 and 2016 where we identified and recognized intangible assets . we have used the relief from royalty method , the multi-period excess earnings method , the income approach and the cost approach to value acquisition-related intangible assets . in so doing , we made assumptions regarding expected future revenues and expenses to develop the underlying forecasts , applied contributory asset charges , discount rates , exchange rates , cash tax charges and useful lives . the valuations were based on information available at the time of the acquisition and the expectations and assumptions that have been deemed reasonable by us . no assurance can be given , however , that the underlying assumptions or events associated with such assets will occur as projected . for these reasons , among others , the actual cash flows may vary from forecasts of future cash flows . to the extent actual cash flows vary , revisions to the useful life or impairment of intangible assets may be necessary . valuation and impairment of marketable securities our investments in available-for-sale equity securities are reported at fair value . unrealized gains and losses related to changes in the fair value of available-for-sale equity securities are recognized in accumulated other comprehensive income , net of tax . changes in the fair value of available-for-sale equity securities impact our reported net income only when such securities are sold or an other-than-temporary impairment is recognized . realized gains and losses on the sale of equity securities will be calculated with reference to its original cost . we regularly review the carrying value of our available-for-sale equity securities to determine whether it is other-than-temporarily impaired , which would require us to record an impairment charge in the period in which such determination is made . in making this determination , we consider , among other things , the extent and the duration of the decline ; the reasons for the decline in value ( i.e . credit event , currency or interest-rate related ) ; and the financial condition of and near term-prospects of the issuer of the security . our assessment of whether an equity security is other-than-temporarily impaired could change in the future due to new developments or changes in assumptions related to any particular security , which would have an adverse impact on our financial condition and operating results . deferred taxation we estimate our tax liability through the calculations done for the determination of our current tax liability , together with assessing temporary differences resulting from the different treatment of items for tax and accounting purposes . these differences result in deferred tax assets and liabilities which are disclosed on our balance sheet . 44 management then has to assess the likelihood that deferred tax assets are more likely than not to be realized in the foreseeable future . a valuation allowance is created if it is determined that a deferred tax asset will not be realized in the foreseeable future . any change to the valuation allowance would be charged or credited to income in the period such determination is made . in assessing the need for a valuation allowance , historical levels of income , expectations and risks associated with estimates of future taxable income and ongoing prudent and practicable tax planning strategies are considered . during fiscal 2018 , we recorded a net decrease of $ 22.9 million to our valuation allowance and during fiscal 2017 and 2016 , respectively , we recorded a net increase of $ 0.1 million and $ 16.3 million to our valuation allowance . as of june 30 , 2018 and 2017 , the valuation allowance related to deferred tax assets was $ 16.1 million and $ 39.0 million , respectively . stock-based compensation management is required to make estimates and assumptions related to our valuation and recording of stock-based compensation charges under current accounting standards . these standards require all share-based compensation to employees to be recognized in the statement of operations based on their respective grant date fair values over the requisite service periods and also requires an estimation of forfeitures when calculating compensation expense . we utilize the cox ross rubinstein binomial model to measure the fair value of stock options granted to employees and directors . we have also utilized a bespoke adjusted monte carlo simulation discounted cash flow model to measure the fair value of restricted stock with market conditions granted to employees and directors . the stock-based compensation cost related to these valuations has been recognized on a straight line basis . these valuation models require estimates of a number of key valuation inputs including expected volatility , expected dividend yield , expected term and risk-free interest rate . our management has estimated forfeitures based on historic employee behavior under similar compensation plans . the fair value of stock options is affected by the assumptions selected . net stock-based compensation expense from continuing operations was $ 2.6 million , $ 2.0 million and $ 3.6 million for fiscal 2018 , 2017 and 2016 , respectively . accounts receivable and allowance for doubtful accounts receivable we maintain an allowance for doubtful accounts receivable related to our financial inclusion and applied technologies and international transaction-based activities segments with respect to sales or rental of hardware , support and maintenance services provided ; or sale of licenses to customers

cash flows from operating activities cash flows from operating activities for fiscal 2018 increased to $ 132.6 million ( zar 1.7 billion ) from $ 97.2 million ( zar 1.3 billion ) for fiscal 2017. excluding the impact of interest received , interest paid on our korean and south africa debt and taxes presented in the table below , the increase relates primarily to the receipt of certain working capital loans outstanding , offset partially by the expansion of our south african lending book and weaker trading activity during fiscal 2018 compared to 2017. during fiscal 2018 , we paid interest of $ 7.2 million and $ 0.4 million , respectively , under our south african and south korean debt facilities . cash flows from operating activities for fiscal 2017 decreased to $ 97.2 million ( zar 1.3 billion ) from $ 116.6 million ( zar 1.7 billion ) for fiscal 2016. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the decrease relates primarily to the growth of masterpayment 's working capital finance offering and the separation payment made to our former chief executive officer , offset by an increase in cash from operating activities resulted from improved trading activity during fiscal 2017. during fiscal 2017 , we paid interest of $ 1.5 million under our south korean debt facility . during fiscal 2018 , we made a first provisional tax payment of $ 17.7 million ( zar 231.2 million ) and a second provisional tax payment of $ 17.0 million ( zar 225.9 million ) related to our 2018 tax year in south africa . we also paid taxes totaling $ 4.9 million in other tax jurisdictions , primarily south korea . during fiscal 2017 , we made a first provisional tax payment of $ 18.2 million ( zar 252.0 million ) and a second provisional tax payment of $ 17.2 million ( zar 221.7 million ) related to our 2017 tax year in south africa . we paid dividend withholding taxes of $ 1.5 million ( zar 21.3 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.
     ```cash flows from operating activities cash flows from operating activities for fiscal 2018 increased to $ 132.6 million ( zar 1.7 billion ) from $ 97.2 million ( zar 1.3 billion ) for fiscal 2017. excluding the impact of interest received , interest paid on our korean and south africa debt and taxes presented in the table below , the increase relates primarily to the receipt of certain working capital loans outstanding , offset partially by the expansion of our south african lending book and weaker trading activity during fiscal 2018 compared to 2017. during fiscal 2018 , we paid interest of $ 7.2 million and $ 0.4 million , respectively , under our south african and south korean debt facilities . cash flows from operating activities for fiscal 2017 decreased to $ 97.2 million ( zar 1.3 billion ) from $ 116.6 million ( zar 1.7 billion ) for fiscal 2016. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the decrease relates primarily to the growth of masterpayment 's working capital finance offering and the separation payment made to our former chief executive officer , offset by an increase in cash from operating activities resulted from improved trading activity during fiscal 2017. during fiscal 2017 , we paid interest of $ 1.5 million under our south korean debt facility . during fiscal 2018 , we made a first provisional tax payment of $ 17.7 million ( zar 231.2 million ) and a second provisional tax payment of $ 17.0 million ( zar 225.9 million ) related to our 2018 tax year in south africa . we also paid taxes totaling $ 4.9 million in other tax jurisdictions , primarily south korea . during fiscal 2017 , we made a first provisional tax payment of $ 18.2 million ( zar 252.0 million ) and a second provisional tax payment of $ 17.2 million ( zar 221.7 million ) related to our 2017 tax year in south africa . we paid dividend withholding taxes of $ 1.5 million ( zar 21.3 million ) .
```    
 Suspicious Activity Report : our applied technologies business unit has an array of web and mobile applications and payment technologies , such as mvc , chip and gsm licensing and vtu , and has deployed solutions in many countries , including south africa , namibia , nigeria , malawi , cameroon , the philippines , india and colombia . sources of revenue we generate our revenues by charging transaction fees to government agencies , merchants , financial service providers , utility providers , bill issuers , employers ; and cardholders ; by providing loans and insurance products and by selling hardware , licensing software and providing related technology services . we have structured our business and our business development efforts around four related but separate approaches to deploying our technology . in our most basic approach , we act as a supplier , selling our equipment , software , and related technology to a customer . the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . 39 we have found that we have greater revenue and profit opportunities , however , by acting as a service provider instead of a supplier . in this approach we own and operate the ueps ourselves , charging one-time and on-going fees for the use of the system either on a fixed or ad valorem basis . this is the case in south africa , where we distribute welfare grants on behalf of the south african government on a fixed fee basis , provide bank accounts on a fixed fee basis , but charge a fee on an ad valorem basis for goods and services purchased using our smart card . the revenue and costs associated with this approach are reflected in our south african transaction processing and financial inclusion and applied technologies segments . because our smart cards are designed to enable the delivery of more advanced services and products , we are also willing to supply those services and products directly where the business case is compelling . for instance , we provide short-term loans to our smart card holders . this is an example of the third approach that we have taken . here we can act as the principal in operating a business that can be better delivered through our ueps . the revenue and costs are reflected in our financial inclusion and applied technologies segment . in south africa , we also generate fees from debit and credit card transaction processing , the provision of value-added services such as bill payments , mobile top-up and prepaid utility sales , and from providing a payroll transaction management service . the revenue and costs associated with these services are reflected in our south african transaction processing and financial inclusion and applied technologies segments . through ksnet , we earn most of our revenue from payment processing services we provide to approximately 240,000 merchants and to card issuers in south korea through our value-added-network . through ipg we generate fee revenue through the provision of payment service provider and card issuing and acquiring services in primarily germany , china and the u.s. we also generate fees from our customers who utilize our vcpay technology to generate a unique , one-time use prepaid virtual card number to securely purchase goods and services or perform bill payments in any card-not-present environment . the revenue and costs at of all of these businesses are reflected in our international transaction processing segment . finally , we have investments , business partnerships or joint ventures to introduce our financial technology solutions to markets such as bank frick in europe , finbond in south africa and north america , onefi in nigeria and mobikwik in india . in these situations , we take an equity position in the business while also acting as a supplier of technology . in evaluating these types of opportunities , we seek to maintain a highly disciplined approach , carefully selecting partners , participating closely in the development of the business plan and remaining actively engaged in the management of the new business . in most instances , the joint venture or partnership has a license to use our proprietary technologies in the specific territory , including the back-end system . we believe that this flexible approach enables us to drive adoption of our solution while capturing the value created by the implementation of our technology . developments during fiscal 2018 cps and sassa contract termination on march 23 , 2018 , the constitutional court ordered a six-month extension of our current contract with sassa , for the payment of grants in cash at pay points only , on the same terms and conditions as the contract that was due to expire on march 31 , 2018. accordingly , we have continued to pay grant recipients at pay points . while the court order was silent regarding the payment of the other 9.1 million grant recipients who access their grants utilizing pin or by biometric verification at pos and atms , we have continued to support the bank accounts that underpin these grant payments . as sassa is no longer paying us a service fee for the management of these accounts with effect from april 1 , 2018 , grant recipients now bear the cost for the fees associated with these accounts . sassa has indicated that grant recipients will be encouraged to open a commercial bank account of their choice in the future , including the special account offered by sapo for grant recipients . sassa reported in its september 2018 filing with the constitutional court the sassa ceo reported that 5,475,752 new sassa/sapo payment cards have been issued . the constitutional court further ordered that we may approach the national treasury to investigate and make a recommendation regarding the price to be paid for our contracted services during the six-month period . story_separator_special_tag the results of our impairment tests during fiscal 2018 indicated that the fair value of our reporting units exceeded their carrying values and therefore our reporting units were not at risk of potential impairment , with the exception of the $ 19.9 million of goodwill impaired during the third quarter of fiscal 2018 and goodwill of $ 1.1 million allocated to a business that ceased trading during the year . intangible assets acquired through acquisitions the fair values of the identifiable intangible assets acquired through acquisitions were determined by management using the purchase method of accounting . we completed acquisitions during fiscal 2018 , 2017 and 2016 where we identified and recognized intangible assets . we have used the relief from royalty method , the multi-period excess earnings method , the income approach and the cost approach to value acquisition-related intangible assets . in so doing , we made assumptions regarding expected future revenues and expenses to develop the underlying forecasts , applied contributory asset charges , discount rates , exchange rates , cash tax charges and useful lives . the valuations were based on information available at the time of the acquisition and the expectations and assumptions that have been deemed reasonable by us . no assurance can be given , however , that the underlying assumptions or events associated with such assets will occur as projected . for these reasons , among others , the actual cash flows may vary from forecasts of future cash flows . to the extent actual cash flows vary , revisions to the useful life or impairment of intangible assets may be necessary . valuation and impairment of marketable securities our investments in available-for-sale equity securities are reported at fair value . unrealized gains and losses related to changes in the fair value of available-for-sale equity securities are recognized in accumulated other comprehensive income , net of tax . changes in the fair value of available-for-sale equity securities impact our reported net income only when such securities are sold or an other-than-temporary impairment is recognized . realized gains and losses on the sale of equity securities will be calculated with reference to its original cost . we regularly review the carrying value of our available-for-sale equity securities to determine whether it is other-than-temporarily impaired , which would require us to record an impairment charge in the period in which such determination is made . in making this determination , we consider , among other things , the extent and the duration of the decline ; the reasons for the decline in value ( i.e . credit event , currency or interest-rate related ) ; and the financial condition of and near term-prospects of the issuer of the security . our assessment of whether an equity security is other-than-temporarily impaired could change in the future due to new developments or changes in assumptions related to any particular security , which would have an adverse impact on our financial condition and operating results . deferred taxation we estimate our tax liability through the calculations done for the determination of our current tax liability , together with assessing temporary differences resulting from the different treatment of items for tax and accounting purposes . these differences result in deferred tax assets and liabilities which are disclosed on our balance sheet . 44 management then has to assess the likelihood that deferred tax assets are more likely than not to be realized in the foreseeable future . a valuation allowance is created if it is determined that a deferred tax asset will not be realized in the foreseeable future . any change to the valuation allowance would be charged or credited to income in the period such determination is made . in assessing the need for a valuation allowance , historical levels of income , expectations and risks associated with estimates of future taxable income and ongoing prudent and practicable tax planning strategies are considered . during fiscal 2018 , we recorded a net decrease of $ 22.9 million to our valuation allowance and during fiscal 2017 and 2016 , respectively , we recorded a net increase of $ 0.1 million and $ 16.3 million to our valuation allowance . as of june 30 , 2018 and 2017 , the valuation allowance related to deferred tax assets was $ 16.1 million and $ 39.0 million , respectively . stock-based compensation management is required to make estimates and assumptions related to our valuation and recording of stock-based compensation charges under current accounting standards . these standards require all share-based compensation to employees to be recognized in the statement of operations based on their respective grant date fair values over the requisite service periods and also requires an estimation of forfeitures when calculating compensation expense . we utilize the cox ross rubinstein binomial model to measure the fair value of stock options granted to employees and directors . we have also utilized a bespoke adjusted monte carlo simulation discounted cash flow model to measure the fair value of restricted stock with market conditions granted to employees and directors . the stock-based compensation cost related to these valuations has been recognized on a straight line basis . these valuation models require estimates of a number of key valuation inputs including expected volatility , expected dividend yield , expected term and risk-free interest rate . our management has estimated forfeitures based on historic employee behavior under similar compensation plans . the fair value of stock options is affected by the assumptions selected . net stock-based compensation expense from continuing operations was $ 2.6 million , $ 2.0 million and $ 3.6 million for fiscal 2018 , 2017 and 2016 , respectively . accounts receivable and allowance for doubtful accounts receivable we maintain an allowance for doubtful accounts receivable related to our financial inclusion and applied technologies and international transaction-based activities segments with respect to sales or rental of hardware , support and maintenance services provided ; or sale of licenses to customers

