| Schedule of related party transactions |
As of March 31, 2018 and June 30, 2017, the Company had related party receivables and payables balances as set forth below:
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in thousands |
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March 31, 2018 |
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June 30, 2017 |
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Receivables |
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Payables |
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Receivables |
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Payables |
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Former Parent/Stack's Bowers |
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$ |
9,825 |
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(1) |
$ |
— |
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$ |
— |
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$ |
27 |
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Equity method investee |
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— |
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239 |
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(2) |
— |
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558 |
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SilverTowne |
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— |
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185 |
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(3) |
— |
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1,768 |
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Goldline Lenders |
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— |
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7,870 |
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(4) |
— |
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— |
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$ |
9,825 |
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$ |
8,294 |
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— |
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$ |
2,353 |
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_________________________________ |
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(1) Balance principally includes two secured lines of credit with a balance of $3.0 million and $6.3 million (shown as a component of secured loans receivables). See "Secured Lines of Credit with Stack's Bowers", below. |
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(2) Balance represents mostly open trade receivables. |
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(3) Balance (net) includes (a) a trade receivables of $0.4 million (shown as a component of receivables), and (b) a contingent earn-out liability of $0.6 million (shown as a component of other long-term liabilities). |
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(4) Balance includes the face value the Goldline Credit Facility of $7.5 million, and the associated estimated debt funding fees payable of $0.4 million (shown as debt obligation - related party). The Goldline Credit facility and the debt funding fee are payable in August 2020. |
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During the three and nine months ended March 31, 2018 and 2017, the Company incurred interest related to notes payable due to SilverTowne and a long-term debt payable to the Goldline Lenders, as set forth below:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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Three Months Ended March 31, |
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March 31, 2018 |
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March 31, 2017 |
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March 31, 2018 |
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March 31, 2017 |
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Interest expense incurred related to notes payable |
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$ |
— |
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$ |
— |
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$ |
4 |
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$ |
— |
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Interest expense incurred related to long-term debt obligation |
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226 |
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— |
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505 |
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— |
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$ |
226 |
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$ |
— |
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$ |
509 |
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$ |
— |
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During the three and nine months ended March 31, 2018 and 2017, the Company earned interest income related to loans made to Stack's Bowers and related to financing arrangements (including repurchase agreements) with affiliated companies, as set forth below:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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March 31, 2018 |
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March 31, 2017 |
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March 31, 2018 |
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March 31, 2017 |
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Interest income from secured loans receivables |
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$ |
88 |
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$ |
118 |
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$ |
141 |
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$ |
150 |
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Interest income from finance products |
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994 |
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777 |
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2,114 |
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2,132 |
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$ |
1,082 |
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$ |
895 |
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$ |
2,255 |
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$ |
2,282 |
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During the three and nine months ended March 31, 2018 and 2017, the Company made sales and purchases to various companies, which have been deemed to be related parties, as follows:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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March 31, 2018 |
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March 31, 2017 |
March 31, 2018 |
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March 31, 2017 |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Former Parent/Stack's Bowers |
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$ |
12,189 |
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$ |
211,120 |
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$ |
16,410 |
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$ |
15,105 |
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$ |
24,686 |
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$ |
214,661 |
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$ |
38,077 |
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$ |
38,441 |
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Equity method investee |
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98,876 |
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2,769 |
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126,354 |
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— |
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293,163 |
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3,797 |
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392,890 |
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812 |
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SilverTowne |
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5,101 |
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699 |
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5,156 |
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1,210 |
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12,384 |
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7,078 |
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23,975 |
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3,952 |
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$ |
116,166 |
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$ |
214,588 |
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$ |
147,920 |
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$ |
16,315 |
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$ |
330,233 |
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$ |
225,536 |
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$ |
454,942 |
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$ |
43,205 |
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