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, unless otherwise specified
 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:      
Net Income $ 8,259 $ 12,514 $ 10,574
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 934 826 727
Deferred income taxes 6,930 11,091 (17,268)
Interest added to principal of secured loans (476) 0 0
Provision for doubtful accounts 0 (700) 1,016
Share-based compensation 194 169 137
Changes in assets and liabilities:      
Receivables 14,282 18,138 (35,804)
Secured loans to Former Parent (2,562) 0 0
Inventories (13,176) (18,914) 29,840
Prepaid expenses and other current assets (126) 57 (258)
Accounts payable (8,584) (4,509) 9,814
Liabilities on borrowed metals (11,408) (6,959) 15,693
Accrued liabilities (531) 169 580
Receivable from/ payables to Former Parent (12,659) (13,088) 10,342
Income taxes payables 2,178 0 0
Net cash (used in) provided by operating activities (16,745) (1,206) 25,393
Cash flows from investing activities:      
Capital expenditures for property and equipment (1,011) (480) (568)
Purchase of cost method investment (500) 0 0
Secured loans acquired (4,196) 0 0
Principal collections on secured loans acquired 75 0 0
Net cash used in investing activities (5,632) (480) (568)
Cash flows from financing activities:      
Product financing arrangement, net (13,944) 22,978 15,576
Dividends paid to Former Parent (10,000) (15,000) 0
Borrowings (repayments) under lines of credit, net 40,200 4,000 (38,500)
Retirement of repurchased Afinsa and Auctentia common stock and interest in A-Mark Precious Metals, Inc. (2,198) 0 0
Contribution from non-controlling interest 0 0 (5)
Repurchase and retirement of restricted stock for payroll taxes (53) 0 0
Net cash provided by (used in) financing activities 14,005 11,978 (22,929)
Net (decrease)increase in cash and cash equivalents (8,372) 10,292 1,896
Cash and cash equivalents, beginning of period 21,565 11,273 9,377
Cash and cash equivalents, end of period 13,193 21,565 11,273
Cash paid during the period for:      
Interest expense 3,908 3,505 4,248
Income taxes 7,667 10,100 13,785
Non-cash investing and financing activities:      
Interest added to principal of secured loans 476 0 0
Secured loans received in satisfaction of customer receivable $ 12,800 $ 0 $ 0