Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 188

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 188
---
 of business on October 8, 2024. The dividend was paid on October 22, 2024 and totaled $4.6 million. 

See Note 17 and Note 20 to the Company's condensed consolidated financial statements for more information regarding our dividends.

Cash Flows

The majority of the Company’s trading activities involve two-day value trades under which payment is received in advance of delivery or product is received in advance of payment. The combination of sales volume, inventory turnover, and precious metals price volatility can cause material changes in the sources of cash used in or provided by operating activities on a daily basis. The Company manages these variances through its liquidity forecasts and counterparty limits by maintaining a liquidity reserve to meet the Company’s cash needs. The Company uses various short-term financial instruments to manage the cycle of our trading activities from customer purchase order to cash collections and product delivery, which can cause material changes in the amount of cash used in or provided by financing activities on a daily basis.

The following summarizes components of our condensed consolidated statements of cash flows (in thousands):

    Six Months Ended
     
    December 31, 2024

    December 31, 2023

    Change

    Net cash used in operating activities
     
    $
    (17,458
    )
     
    $
    (101,667
    )
     
    $
    (84,209
    )

    Net cash provided by (used in) investing activities
     
    $
    10,499

    $
    (10,659
    )
     
    $
    21,158

    Net cash (used in) provided by financing activities
     
    $
    (3,909
    )
     
    $
    101,503

    $
    (105,412
    )

For the periods presented, our principal capital requirements have been to fund (i) working capital and (ii) financing activity. Our working capital requirements fluctuated with market conditions, the availability of precious metals, and the volatility of precious metals commodity pricing. 

Net Cash Flows From Operating Activities

Operating activities used $17.5 million and used $101.7 million in cash for the six months ended December 31, 2024 and 2023, respectively, representing a $84.2 million change compared to the six months ended December 31, 2023. The period over period change was primarily due to net changes in working capital, which includes inventories,