Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net (loss) income $ (3,419) $ 7,064
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,626 1,521
Impairment of intangible assets 2,654 0
Amortization of loan cost 1,463 892
Deferred income taxes 89 (10,780)
Interest added to principal of secured loans (48) (68)
Change in accrued earn-out (non-cash) (529) (198)
Share-based compensation 1,191 996
Earnings from equity method investment (421) (94)
Loss on disposal of fixed assets 0 178
Changes in assets and liabilities:    
Receivables 4,044 4,007
Secured loans 385 8,765
Secured loans to Former Parent (12,523) 1,370
Derivative assets 11,017 16,145
Income tax receivable (1,553) 7,318
Precious metals held under financing arrangements (262,566) 0
Inventories 16,946 (39,602)
Prepaid expenses and other assets (1,779) (572)
Accounts payable 2,221 (4,822)
Derivative liabilities (14,125) (1,872)
Liabilities on borrowed metals 265,772 1,273
Accrued liabilities (2,381) (2,923)
Receivable from/payables to Former Parent 0 203
Income taxes payable (1,418) 1,418
Net cash provided by (used in) operating activities 7,646 (9,781)
Cash flows from investing activities:    
Capital expenditures for property and equipment (1,317) (2,265)
Secured loans, net (7,000) (30,801)
Acquisition of subsidiary, net of cash (9,515) (3,421)
Net cash used in investing activities (17,832) (36,487)
Cash flows from financing activities:    
Product financing arrangements, net (21,403) 75,985
Dividends (1,687) (2,110)
Borrowings under lines of credit, net 20,000 (32,000)
Proceeds from issuance of debt obligation payable to related party 7,500 0
Repayments on notes payable to related party (500) 0
Stock award grant 0 172
Debt funding fees (492) 0
Excess tax benefit of share-based award 0 138
Net cash provided by financing activities 3,418 42,185
Net decrease in cash, cash equivalents, and restricted cash (6,768) (4,083)
Cash, cash equivalents, and restricted cash, beginning of period 13,059 17,142
Cash, cash equivalents, and restricted cash, end of period 6,291 13,059
Supplemental disclosures of cash flow information:    
Interest expense 12,251 9,448
Income taxes 3,038 11,874
Non-cash investing and financing activities:    
Interest added to principal of secured loans 48 68
Debt funding fee 534 0
Contribution of assets from minority interest 0 3,454
Payable to minority interest partner for acquired business 0 500
Earn out obligation payable to minority interest partner $ 0 $ 1,523