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Document and Entity Information - shares | 6 Months Ended | |
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Dec. 31, 2019 | Feb. 04, 2020 | |
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 | Dec. 31, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
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 2020 10-K Annual Report includes:
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This period over period decrease was primarily due to the change in the balance of the Trading Credit Facility of $74.0 million, changes in the balance of product financing arrangements of $16.8 million, and change in repayments on notes payable to a related party of $7.5 million; offset by the change the proceeds from issuance of notes payable of $90.0 million received in the prior fiscal year, net of debt issuance costs of $3.7 million.
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 1.0% to 11.025% from 10.911% in 2018.
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 6.2% to 11.167% from 10.518% in 2018.
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.
As compared to the same year-ago period, the following interest expense components increased: (i) $0.1 million, related to our Trading Credit Facility (including debt amortization costs), (ii) $0.2 million, related to product financing arrangements, (iii) $0.4 million, related to loan servicing costs, partially offset by reductions of (iv) $(0.2) million related to our liabilities on borrowed metals and (v) $(0.1) million related to the Goldline Credit Facility.
The Company recognizes interest and...Read more
This segment's profit margin percentage...Read more
The high volume, rapid rate...Read more
This period over period increase...Read more
Also, the Company recognizes its...Read more
As compared to the same...Read more
As compared to the same...Read more
Factors that could cause or...Read more
When these contracts are net...Read more
Operating activities provided $43.4 million...Read more
Interest Expense - Wholesale Trading...Read more
Investing activities used $38.4 million...Read more
The Company's gross margin percentage...Read more
The Company's gross margin percentage...Read more
In periods of higher volatility,...Read more
The increase in interest expense...Read more
The aggregate increase (in other...Read more
The increase in interest expense...Read more
The aggregate increase in interest...Read more
Our strategy continues to focus...Read more
These limits include gross position...Read more
We intend to promote our...Read more
Our policy is to substantially...Read more
Product supply constraints during extended...Read more
The Company's profit margin percentage...Read more
For the six months ended...Read more
This segment's profit margin percentage...Read more
Three Months Ended December 31,...Read more
Table of Contents Six Months...Read more
If the Company concludes that...Read more
The Company records commodity forward...Read more
The decrease in our inventory...Read more
The aggregate decrease was related...Read more
The aggregate decrease was related...Read more
Our revenues decreased primarily due...Read more
As compared to the same...Read more
Effective March 29, 2019, through...Read more
Table of Contents The Company...Read more
Since we quote prices based...Read more
Our revenues decreased primarily due...Read more
Three Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Our revenues decreased due to...Read more
Excluding inter-segment sales from the...Read more
Our revenues decreased primarily due...Read more
For contracts that are net...Read more
Inventory includes amounts borrowed from...Read more
The Company also continually monitors...Read more
The Company's gains (losses) on...Read more
Table of Contents Three Months...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Table of Contents Six Months...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 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
The Direct Sales ticket volume...Read more
The Direct Sales ticket volume...Read more
Our working capital requirements fluctuate...Read more
Six Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...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 effective tax rate was...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
Three Months Ended December 31,...Read more
Overall gross profit decreased primarily...Read more
For the three months ended...Read more
For the six months ended...Read more
Our inventory consist of, and...Read more
This step requires us to...Read more
The Company's wholly-owned subsidiary, A-M...Read more
As of December 31, 2019,...Read more
Three Months Ended December 31,...Read more
Table of Contents Six Months...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Table of Contents Six Months...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: 0001591588-20-000013
Submitted to the SEC: Fri Feb 07 2020 7:12:36 PM EST
Accepted by the SEC: Mon Feb 10 2020
Period: Tuesday, December 31, 2019
Industry: Wholesale Jewelry Watches Precious Stones And Metals