February 28,
February 28,
2019
2018
Deferred compensation plan assets
$6,413
$5,641
Investment in international licensees
2,263
2,349
Equity investment in and loan to ThinxNet GmbH
2,650
2,674
Equity investment in and loan to Smart Driver Club
-
3,814
Deferred product cost
10,094
3,523
Other
1,090
828
$22,510
$18,829
note 9 – other assets .
other assets consist of the following -in thousands : .
we have a non-qualified deferred compensation plan in which certain members of management and all nonemployee directors are eligible to participate .
participants may defer a portion of their compensation until retirement or another date specified by them in accordance with the plan .
we are funding the plan obligations through cash deposits to a rabbi trust that are invested in various equity bond and money market mutual funds in generally the same proportion as investment elections made by the participants .
the deferred compensation plan liability is included in other non-current liabilities in the accompanying consolidated balance sheets .
our investment in international licensees at february 28 2019 consists principally of a 12 .
5 % equity interest in a mexican licensee of $ 1 .
7 million which became a wholly-owned subsidiary as of march 19 2019 -see note 2 as well as other smaller interests in benelux and french licensees .
generally the investments in international licensees are accounted for using the cost method of accounting and carried at cost as we do not exercise significant influence over these investees .
we have received dividends from our investment in the mexican licensee in the amount of $ 0 .
3 million $ 0 .
3 million and $ 0 .
2 million for fiscal years ended february 28 2019 2018 and 2017 respectively .
in september 2015 we invested £ 1400000 or approximately $ 2 .
2 million for a 49 % minority ownership interest in smart driver club limited - “ smart driver club ” a technology and insurance startup company located in the united kingdom .
this investment has been accounted for under the equity method since we have significant influence over the investee .
as of february 28 2019 we had made loans aggregating £ 5700000 or approximately $ 7 .
6 million to smart driver club bearing interest at an annual interest rate of 8 % with all principal and all unpaid interest due in 2021 .
our equity in the net loss of smart driver club amounted to $ 1 .
8 million $ 1 .
4 million and $ 1 .
3 million in fiscal years ended february 28 2019 2018 and 2017 respectively .
as of february 28 2019 we determined that this equity method investment was subject to other than temporary impairment .
this decision was dictated by the continuing operating losses and deteriorating liquidity position of smart driver club .
accordingly we recorded an impairment charge of $ 5 .
0 million in the impairment loss and equity in net loss within our consolidated statement of comprehensive income -loss .
smart driver club drew an additional £ 400000 of debt on march 26 2019 under a fourth amendment to the original agreement dated march 14 2019 .
effective august 24 2017 we acquired an ownership interest valued at $ 1 .
4 million in thinxnet gmbh a company headquartered in munich germany - “ thinxnet ” .
thinxnet is an early stage company focused on commercializing cloud-based mobile device and applications in the automotive sector throughout europe .
this represents a cost basis investment as we cannot exercise significant influence over the investee .
contemporaneously we executed an unsecured convertible note receivable for $ 1 .
27 million with an interest rate of 6 % which has a fixed term of 12 months after which the loan can be converted into equity in thinxnet or a loan due on demand at our option .
the equity investment and note receivable were consideration we received in exchange for our outstanding accounts receivable from thinxnet .
no gain or loss was recorded on this exchange .
the assets received in this exchange are included in other assets in the consolidated balance sheet as of february 28 2019 and 2018 .
in august 2018 thinxnet commenced a subsequent financing transaction to raise additional funds for working capital purposes .
in connection with this transaction we converted approximately $ 300000 of outstanding accounts receivable due from thinxnet into additional ownership interest in an in-kind exchange of assets .
based on the fair value of thinxnet at the time of conversion we revalued the initial ownership interest and recorded an impairment charge of $ 326000 which is netted within investment income in our consolidated statement of comprehensive income -loss .
effective march 2019 we notified thinxnet that we expect the outstanding loan to be repaid in june 2019 .

Question: What did ThinxNet do in August 2018?
Answer: commenced a subsequent financing transaction to raise additional funds for working capital purposes.