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Document and Entity Information - shares | 3 Months Ended | |
---|---|---|
Sep. 30, 2019 | Nov. 04, 2019 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | A-Mark Precious Metals, Inc. | |
Entity Central Index Key | 0001591588 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Current Reporting Status | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,031,450 |
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Compare this 10-Q Quarterly 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 2019 10-K Annual Report includes:
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Excluding the impact of inter-segment sales from the Direct Sales segment to the Wholesale Trading & Ancillary Services segment, the Direct Sales segment's gross profit margin percentage increased by 13.9% to 11.460% from 10.060% in 2018.
This period over period increase in the use of cash was primarily due to changes in the balances of: inventory, derivative assets, derivative liabilities, precious metals held under financing arrangements; offset by changes in the balances of: receivables, accounts payable, and liabilities on borrowed metals.
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 increase was related primarily to interest expense on this segment's source of financing provided by the Trading Credit Facility (including loan amortization costs), liabilities on borrowed metals, and product financing arrangements.
Additionally, gross margin percentage increased due to higher trading profits, offset by compressed trading spreads.
The high volume, rapid rate...Read more
For the three months ended...Read more
Also, the Company recognizes its...Read more
Factors that could cause or...Read more
When these contracts are net...Read more
The aggregate increase in interest...Read more
Operating activities used $62.5 million...Read more
Investing activities used $35.0 million...Read more
Table of Contents Financing activities...Read more
The Company's gross margin percentage...Read more
This period over period increase...Read more
As compared to the same...Read more
The decrease in the profit...Read more
In periods of higher volatility,...Read more
For the three months ended...Read more
Our strategy continues to focus...Read more
These limits include gross position...Read more
The Company's finance fees earned...Read more
We intend to promote our...Read more
As compared to the same...Read more
Our policy is to substantially...Read more
Product supply constraints during extended...Read more
Table of Contents Three Months...Read more
If the Company concludes that...Read more
Additionally, as compared to the...Read more
The Company records commodity forward...Read more
Table of Contents The Company...Read more
The Wholesale Trading & Ancillary...Read more
Since we quote prices based...Read more
The annual tax rate includes...Read more
Excluding inter-segment sales from the...Read more
Table of Contents Effective March...Read more
Inventories include amounts borrowed from...Read more
For contracts that are net...Read more
The Company also continually monitors...Read more
The Company's gains (losses) on...Read more
Table of Contents Three Months...Read more
Three Months Ended September 30,...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
Table of Contents As of...Read more
These net (losses) gains on...Read more
Greater volatility typically causes the...Read more
The increase in our trading...Read more
The premium is attributable to...Read more
If the Company concludes that...Read more
Our open sale and purchase...Read more
Included in this section is...Read more
The wholesale trading ticket volume...Read more
Our working capital requirements fluctuate...Read more
Three Months Ended September 30,...Read more
Three Months Ended September 30,...Read more
The decrease in our trading...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
Our effective tax rate was...Read more
Our inventories consist of, and...Read more
All subsequent written and oral...Read more
The Company also uses other...Read more
Table of Contents The Company...Read more
If through a quantitative analysis...Read more
The obligation is stated at...Read more
The obligation is stated at...Read more
For the three months ended...Read more
The difference between the amount...Read more
This step requires us to...Read more
The Company's wholly-owned subsidiary, A-M...Read more
The increase is mainly driven...Read more
As of September 30, 2019,...Read more
Three Months Ended September 30,...Read more
Three Months Ended September 30,...Read more
Our revenues decreased primarily due...Read more
Our revenues decreased primarily due...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly 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-Q Quarterly Report
Accession Number: 0001591588-19-000043
Submitted to the SEC: Fri Nov 08 2019 2:47:14 PM EST
Accepted by the SEC: Tue Nov 12 2019
Period: Monday, September 30, 2019
Industry: Wholesale Jewelry Watches Precious Stones And Metals