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Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
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Jun. 30, 2021 | Sep. 03, 2021 | Dec. 31, 2020 | |
Cover [Abstract] | |||
Entity Registrant Name | A-Mark Precious Metals, Inc. | ||
Entity Central Index Key | 0001591588 | ||
Entity Tax Identification Number | 11-2464169 | ||
Entity File Number | 001-36347 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 2121 Rosecrans Ave | ||
Entity Address, Address Line Two | Suite 6300 | ||
Entity Address, City or Town | El Segundo | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 90245 | ||
City Area Code | 310 | ||
Local Phone Number | 587-1477 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | AMRK | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 11,291,247 | ||
Entity Public Float | $ 124,199,762 | ||
Document Annual Report | true | ||
Document Transition Report | false |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Amark Precious Metals, Inc..
Amark Precious Metals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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The primary reason for the increase in net cash provided by financing activities was due to an increased use of short term debt financing to accommodate a period of high demand for precious metal products, as well as proceeds received in connection with the Company's public offering of its common stock.
As compared to the same year-ago period, loan servicing costs decreased $0.5 million and interest expense related to our notes payable and Trading Credit Facility decreased $0.5 million.
We believe that the acquisition will enable us to: apply JMB's proven online marketing strategies to other aspects of our direct-to-consumer business; more effectively tailor our merchandising and pricing strategies to target multiple customer demographics across our combined six (including Goldline) unique consumer-facing brands; enhance our program under which we repurchase product from our customers; expand our logistics footprint by adding JMB's centrally located distribution hub in Dallas, Texas; offer JMB's customers proprietary precious metal products developed by us, as well as additional services, including distribution, storage, and logistics; leverage the increased size of the combined businesses to achieve more favorable pricing and financing terms; and provide JMB with opportunities for geographic expansion through our international presence.
The precious metal component of the inventory may be hedged through the use of precious metal commodity positions, while the premium component of our inventory is not a commodity that may be hedged.
The Company recognizes interest and penalties related to certain uncertain tax positions as a component of income tax expense and the accrued interest and penalties are included in deferred and income taxes payable in the Company's consolidated balance sheets.
This period over period increase...Read more
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Product supply constraints during extended...Read more
When these contracts are net...Read more
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The overall gross profit increase...Read more
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The increase was primarily driven...Read more
Our strategy continues to focus...Read more
Operating activities used $52.7 million...Read more
These limits include gross position...Read more
Investing activities used $130.4 million...Read more
Financing activities provided $232.1 million...Read more
For contracts that are net...Read more
Our policy is to substantially...Read more
The Company's overall gross margin...Read more
If the Company concludes that...Read more
The aggregate increase was due...Read more
The increase was due to...Read more
The Trading Credit Facility was...Read more
Greater volatility typically causes the...Read more
The segment name changes of...Read more
The Company records commodity forward...Read more
Net cash used in investing...Read more
In our reconciliation from our...Read more
Effective March 26, 2021, through...Read more
The Company operates in a...Read more
The increase was mainly driven...Read more
Since we quote prices based...Read more
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The decrease in interest income...Read more
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Interest expense for the year...Read more
We intend to continue to...Read more
Earnings from equity method investments...Read more
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The remeasurement gain on pre-existing...Read more
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The use of intangible assets...Read more
Selling, general and administrative expenses...Read more
Selling, general and administrative expenses...Read more
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In periods of higher volatility,...Read more
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This had the effect of...Read more
Inventory includes amounts borrowed from...Read more
The Company also continually monitors...Read more
The Company's gains (losses) on...Read more
Interest income for the year...Read more
Interest income for the year...Read more
These net (losses) gains on...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
As of June 30, 2021...Read more
The increase in ticket volume...Read more
Interest expense for the year...Read more
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Excluding inter-segment sales from the...Read more
If the Company concludes that...Read more
Our open sale and purchase...Read more
Our working capital requirements fluctuated...Read more
The change in interest expense...Read more
We are focused on attracting...Read more
For this reason, the Company...Read more
We use a variety of...Read more
The following table summarizes the...Read more
When the market price of...Read more
Unlike our bullion coins, the...Read more
The increase was primarily due...Read more
Numerous CFC loans were paid...Read more
Our effective tax rate was...Read more
All subsequent written and oral...Read more
Revenues for the year ended...Read more
Revenues for the year ended...Read more
Revenues for the year ended...Read more
The Company also uses other...Read more
The Company also performs impairment...Read more
If through a quantitative analysis...Read more
The Wholesale Sales ticket volume...Read more
The Direct-to-Consumer ticket volume for...Read more
The obligation is stated at...Read more
The obligation is stated at...Read more
The fair market value of...Read more
Gross profit for the year...Read more
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The current year ticket volume...Read more
Our inventory consists of, and...Read more
This step requires us to...Read more
The Company's wholly-owned subsidiary AMGL...Read more
For the year ended June...Read more
This pro forma information is...Read more
As of June 30, 2021,...Read more
Amortization of purchased intangible assets...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Amark Precious Metals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AMRK
CIK: 1591588
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-047760
Submitted to the SEC: Mon Sep 13 2021 4:54:57 PM EST
Accepted by the SEC: Mon Sep 13 2021
Period: Wednesday, June 30, 2021
Industry: Wholesale Jewelry Watches Precious Stones And Metals