Amark Precious Metals, Inc. (AMRK) SEC Filing 10-Q Quarterly report for the period ending Tuesday, December 31, 2019

10-Q Quarterly Report Summary
10-Q Quarterly Report
10-Q QoQ Changes
Amark Precious Metals, Inc.
Ticker: AMRK CIK: 1591588

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	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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Inside Amark Precious Metals, Inc.'s 10-Q Quarterly Report:

Financial - Debt Highlight
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.

Revenue - Product Highlight
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.
Revenue - Product Highlight
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.
Revenue - Product Highlight
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.
Financial - Expense Highlight
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.
Financial - Income
The Company recognizes interest and...Read more
Financial - Earnings
This segment's profit margin percentage...Read more
Revenue - Product
The high volume, rapid rate...Read more
Other - Other
This period over period increase...Read more
Revenue - Product
Also, the Company recognizes its...Read more
Financial - Expense
As compared to the same...Read more
Financial - Expense
As compared to the same...Read more
Other - Other
Factors that could cause or...Read more
Revenue - Product
When these contracts are net...Read more
Other - Other
Operating activities provided $43.4 million...Read more
Financial - Expense
Interest Expense - Wholesale Trading...Read more
Other - Other
Investing activities used $38.4 million...Read more
Financial - Earnings
The Company's gross margin percentage...Read more
Financial - Earnings
The Company's gross margin percentage...Read more
Revenue - Product
In periods of higher volatility,...Read more
Financial - Expense
The increase in interest expense...Read more
Financial - Expense
The aggregate increase (in other...Read more
Financial - Expense
The increase in interest expense...Read more
Financial - Income
The aggregate increase in interest...Read more
Revenue - Product
Our strategy continues to focus...Read more
Revenue - Product
These limits include gross position...Read more
Revenue - Geography
We intend to promote our...Read more
Other - Other
Our policy is to substantially...Read more
Financial - Earnings
Product supply constraints during extended...Read more
Financial - Earnings
The Company's profit margin percentage...Read more
Financial - Earnings
For the six months ended...Read more
Financial - Earnings
This segment's profit margin percentage...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Table of Contents Six Months...Read more
Other - Other
If the Company concludes that...Read more
Other - Other
The Company records commodity forward...Read more
Revenue - Product
The decrease in our inventory...Read more
Financial - Shares
The aggregate decrease was related...Read more
Financial - Shares
The aggregate decrease was related...Read more
Revenue - Product
Our revenues decreased primarily due...Read more
Financial - Expense
As compared to the same...Read more
Other - Other
Effective March 29, 2019, through...Read more
Revenue - Product
Table of Contents The Company...Read more
Other - Other
Since we quote prices based...Read more
Revenue - Product
Our revenues decreased primarily due...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Six Months Ended December 31,...Read more
Revenue - Product
Our revenues decreased due to...Read more
Revenue - Product
Excluding inter-segment sales from the...Read more
Revenue - Product
Our revenues decreased primarily due...Read more
Financial - Expense
For contracts that are net...Read more
Other - Other
Inventory includes amounts borrowed from...Read more
Financial - Expense
The Company also continually monitors...Read more
Revenue - Product
The Company's gains (losses) on...Read more
Revenue - Product
Table of Contents Three Months...Read more
Revenue - Product
Six Months Ended December 31,...Read more
Financial - Earnings
Three Months Ended December 31,...Read more
Financial - Earnings
Table of Contents Six Months...Read more
Other - Other
However, the gains and losses...Read more
Other - Other
Unallocated or pool metal represents...Read more
Revenue - Product
Table of Contents As of...Read more
Revenue - Product
These net (losses) gains on...Read more
Financial - Earnings
Greater volatility typically causes the...Read more
Revenue - Product
The increase in our trading...Read more
Revenue - Product
The increase in our trading...Read more
Revenue - Product
The premium is attributable to...Read more
Other - Other
If the Company concludes that...Read more
Revenue - Product
Our open sale and purchase...Read more
Financial - Debt
Included in this section is...Read more
Revenue - Product
The wholesale trading ticket volume...Read more
Revenue - Product
The Direct Sales ticket volume...Read more
Revenue - Product
The Direct Sales ticket volume...Read more
Other - Other
Our working capital requirements fluctuate...Read more
Financial - Expense
Six Months Ended December 31,...Read more
Financial - Expense
Six Months Ended December 31,...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Six Months Ended December 31,...Read more
Revenue - Product
The decrease in our trading...Read more
Revenue - Product
For this reason, the Company...Read more
Other - Other
We use a variety of...Read more
Revenue - Product
The following table summarizes the...Read more
Financial - Earnings
When the market price of...Read more
Revenue - Product
Unlike our bullion coins, the...Read more
Other - Other
Our effective tax rate was...Read more
Other - Other
Our effective tax rate was...Read more
Other - Other
All subsequent written and oral...Read more
Other - Other
The Company also uses other...Read more
Other - Other
Table of Contents The Company...Read more
Other - Other
If through a quantitative analysis...Read more
Other - Other
The obligation is stated at...Read more
Other - Other
The obligation is stated at...Read more
Financial - Income
Three Months Ended December 31,...Read more
Financial - Earnings
Overall gross profit decreased primarily...Read more
Financial - Earnings
For the three months ended...Read more
Financial - Earnings
For the six months ended...Read more
Other - Other
Our inventory consist of, and...Read more
Other - Other
This step requires us to...Read more
Other - Other
The Company's wholly-owned subsidiary, A-M...Read more
M & A - Other
As of December 31, 2019,...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Table of Contents Six Months...Read more
Financial - Expense
Six Months Ended December 31,...Read more
Financial - Expense
Three Months Ended December 31,...Read more
Financial - Expense
Table of Contents Six Months...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Balance Sheets (Vie)
Condensed Consolidated Balance Sheets (Vie) (Parenthetical)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statements Of Cash Flows
Description Of Business
Summary Of Significant Accounting Policies
Assets And Liabilities, At Fair Value
Receivables
Secured Loans Receivable
Inventories
Property, Plant, And Equipment
Goodwill And Intangible Assets
Long-Term Investments
Accounts Payable
Derivative Instruments And Hedging Transactions
Income Taxes
Related Party Transactions
Financing Agreements
Commitments And Contingencies
Stockholders' Equity
Customer And Supplier Concentrations
Segments And Geographic Information
Subsequent Events
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Assets And Liabilities, At Fair Value (Tables)
Receivables (Tables)
Secured Loans Receivable (Tables)
Inventories (Tables)
Property, Plant, And Equipment (Tables)
Goodwill And Intangible Assets (Tables)
Long-Term Investments (Tables)
Accounts Payable (Tables)
Derivative Instruments And Hedging Transactions (Tables)
Income Taxes (Tables)
Related Party Transactions (Tables)
Stockholders' Equity (Tables)
Customer And Supplier Concentrations (Tables)
Segments And Geographic Information (Tables)
Description Of Business - Narrative (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Summary Of Future Undiscounted Cash Flows) (Details)
Summary Of Significant Accounting Policies (Summary Of Future Minimum Lease Commitments) (Details)
Summary Of Significant Accounting Policies (Other Long-Term Assets) (Details)
Summary Of Significant Accounting Policies (Earnings Per Share) (Details)
Assets And Liabilities, At Fair Value (Fair Value Of Financial Instruments) (Details)
Assets And Liabilities, At Fair Value (Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details)
Assets And Liabilities, At Fair Value (Narrative) (Details)
Receivables (Details)
Secured Loans Receivable (Summary Of Carrying-Value Of Secured Loans) (Details)
Secured Loans Receivable (Narrative) (Details)
Secured Loans Receivable (Loans Receivable And Credit Quality Indicators) (Details)
Inventories (Summary Of Inventories) (Details)
Inventories (Narrative) (Details)
Property, Plant, And Equipment (Summary Of Ppe) (Details)
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Intangible Assets) (Details)
Goodwill And Intangible Assets (Future Amortization Expense) (Details)
Long-Term Investments (Details)
Accounts Payable (Details)
Derivative Instruments And Hedging Transactions (Offsetting Assets And Liabilities) (Details)
Derivative Instruments And Hedging Transactions (Realized Gain (Loss) (Details)
Derivative Instruments And Hedging Transactions (Hedging Of Precious Metals Inventory) (Details)
Derivative Instruments And Hedging Transactions (Outstanding Commitments) (Details)
Derivative Instruments And Hedging Transactions (Exchange Rate Management) (Details)
Income Taxes (Income Before Income Tax Provision) (Details)
Income Taxes (Components Of Income Tax Expense (Benefit) (Details)
Income Taxes (Narrative) (Details)
Related Party Transactions (Details)
Financing Agreements Lines Of Credit (Details)
Financing Agreements Debt Obligation (Related-Party) (Details)
Financing Agreements Notes Payable (Details)
Financing Agreements Liability On Borrowed Metals (Details)
Financing Agreements Product Financing Arrangements (Details)
Commitments And Contingencies (Escrow Balance Related To Purchase Of Goldline) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Option Activity Rollforward) (Details)
Stockholders' Equity (Options Outstanding, Range Of Exercise Prices And Other Details) (Details)
Stockholders' Equity Stockholders' Equity (Restricted Stock Activity) (Details)
Customer And Supplier Concentrations - Summary Of Customer And Supplier Concentration Of Revenue (Details)
Segments And Geographic Information (Details)
Subsequent Events (Narrative) (Details)

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