Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Statement of Cash Flows [Abstract]    
Non-cash Investing and Financing, Interest Added to Principal, Finance Receivable $ 15,000 $ 17,000
Cash flows from operating activities:    
Net income 444,000 1,939,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 529,000 321,000
Amortization of loan cost 233,000 204,000
Deferred income taxes 4,687,000 1,868,000
Interest added to principal of secured loans (15,000) (17,000)
Share-based compensation 436,000 191,000
Earnings from equity method investment (57,000) 14,000
Changes in assets and liabilities:    
Receivables (1,792,000) 22,556,000
Secured loans (77,000) (3,262,000)
Secured loans to Former Parent (2,215,000) 1,369,000
Derivative assets (1,914,000) 4,957,000
Income tax receivable (5,881,000) (1,023,000)
Inventories (14,384,000) (52,558,000)
Prepaid expenses and other assets (802,000) (357,000)
Accounts payable 1,417,000 14,606,000
Derivative liabilities (10,593,000) (22,935,000)
Liabilities on borrowed metals 436,000 (156,000)
Accrued liabilities (3,147,000) (3,787,000)
Earn-out payments for related party contingent consideration in excess of acquisition-date fair value (208,000) 0
Receivable from/payables to Former Parent 0 203,000
Income taxes payable (1,418,000) 0
Net cash used in operating activities (34,321,000) (35,867,000)
Cash flows from investing activities:    
Capital expenditures for property and equipment (318,000) (336,000)
Secured loans, net 4,674,000 (10,368,000)
Acquisition of subsidiary, net of cash (9,548,000) (3,421,000)
Net cash used in investing activities (5,192,000) (14,125,000)
Cash flows from financing activities:    
Product financing arrangements, net (10,478,000) 58,431,000
Dividends (562,000) 0
Borrowings (repayments) under lines of credit, net 39,000,000 (9,000,000)
Proceeds from issuance of debt obligation payable to related party 7,500,000 0
Repayments on notes payable to related party (500,000) 0
Stock award grant 0 172,000
Debt funding fees 149,000 0
Net cash provided by financing activities 34,811,000 49,603,000
Net decrease in cash, cash equivalents, and restricted cash (4,702,000) (389,000)
Cash, cash equivalents, and restricted cash, beginning of period 13,059,000 17,142,000
Cash, cash equivalents, and restricted cash, end of period 8,357,000 16,753,000
Supplemental disclosures of cash flow information:    
Interest expense 1,856,000 1,456,000
Income taxes 2,869,000 307,000
Non-cash investing and financing activities:    
Interest added to principal of secured loans 534,000 0
Contribution of assets from minority interest 0 3,454,000
Payable to minority interest partner for acquired business 0 500,000
Earn out obligation payable to minority interest partner $ 0 $ 1,523,000