Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 272

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 1
Chunk 272
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 is in excess of 85% of the current value of the underlying collateral. In the event that a borrower fails to meet a margin call to reestablish the required LTV ratio, the loan is considered in default. The collateral material (either bullion, numismatic or graded sports cards) underlying such loans is then sold by the Company to satisfy all amounts due under the loan.Loans with LTV ratios of less than 75% are generally considered to be higher quality loans. Below is summary of aggregate outstanding secured loan balances bifurcated into (i) loans with an LTV ratio of less than 75% and (ii) loans with an LTV ratio of 75% or more (in thousands): 

        December 31, 2024

        June 30, 2024

        Loan-to-value of less than 75%
         
        $
        84,664

        86.0
        %
         
        $
        101,197

        89.5
        %

        Loan-to-value of 75% or more

        13,797

        14.0
        %

        11,870

        10.5
        %

        $
        98,461

        100.0
        %
         
        $
        113,067

        100.0
        %
       
      The Company had no loans with an LTV ratio in excess of 100% as of December 31, 2024 and June 30, 2024.Non-Performing Loans/Impaired LoansHistorically, the Company has not established an allowance for any credit losses because the Company maintains sufficient collateral to satisfy amounts due.

24

Non-performing loans have the highest probability for credit loss. If needed, an allowance for secured loan credit losses attributable to non-performing loans is recorded based on the most probable source of repayment, which is normally the liquidation of collateral. Due to the accelerated liquidation terms of the Company's loan portfolio, past due loans are generally liquidated within 90 days of default. In the event a loan were to become non-performing and the collateral is not sufficient to satisfy amounts due, the Company would determine a reserve to reduce the carrying balance to its estimated net realizable value. As of December 31, 2024 and June 30, 2024, the Company had no allowance for secured loan losses or loans classified as non-performing.A loan is considered impaired