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 ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net (loss) income $ (291) $ 5,984
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,994 1,120
Amortization of loan cost 1,055 583
Deferred income taxes (239) (5,659)
Interest added to principal of secured loans (41) (50)
Change in accrued earn-out (non-cash) (529) (198)
Share-based compensation 1,020 675
Earnings from equity method investment (278) (73)
Changes in assets and liabilities:    
Receivables (919) 439
Secured loans 313 (18,163)
Secured loans to Former Parent (9,352) (6,595)
Derivative assets 10,777 29,094
Income tax receivable (1,521) 6,071
Inventories (202,217) (100,474)
Prepaid expenses and other assets (2,330) (428)
Accounts payable 7,590 (2,618)
Derivative liabilities (16,411) (20,609)
Liabilities on borrowed metals 228,720 2,085
Accrued liabilities (1,597) (2,266)
Receivable from/payables to Former Parent 0 203
Income taxes payable (1,418) 6,038
Net cash provided by (used in) operating activities 14,326 (104,841)
Cash flows from investing activities:    
Capital expenditures for property and equipment (821) (1,932)
Secured loans, net (9,175) 2,636
Acquisition of subsidiary, net of cash (9,548) (3,421)
Net cash used in investing activities (19,544) (2,717)
Cash flows from financing activities:    
Product financing arrangements, net (37,973) 97,092
Dividends (1,686) (1,546)
Borrowings under lines of credit, net 30,000 1,000
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 (241) 0
Excess tax benefit of share-based award 0 138
Net cash (used in) provided by financing activities (2,900) 96,856
Net decrease in cash, cash equivalents, and restricted cash (8,118) (10,702)
Cash, cash equivalents, and restricted cash, beginning of period 13,059 17,142
Cash, cash equivalents, and restricted cash, end of period 4,941 6,440
Supplemental disclosures of cash flow information:    
Interest expense 7,773 6,333
Income taxes 2,944 2,953
Non-cash investing and financing activities:    
Interest added to principal of secured loans 41 50
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