Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 117

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 117
---
 entered into an agreement, effective as of July 1, 2024, with W.A. Richardson Builders, LLC (“WAR Construction”) to effectuate the build out of the Company’s Las Vegas logistics facility. The majority owner and co-manager of WAR Construction is the spouse of a member of the Board of Directors of the Company, and the other co-manager is a 10% stockholder of the Company whose family members are minority owners of WAR Construction. The Company incurred costs of $1.5 million related to this agreement during the three months ended December 31, 2024. Long-term InvestmentsAs of December 31, 2024 and June 30, 2024, the aggregate carrying balance of the equity method investments was $48.2 million and $50.2 million, respectively. (See Note 10.)Other Long-term AssetsIn June 2022, the Company acquired an option to purchase additional ownership interest in SGB. This option was partially exercised and modified in June 2024. The option is exercisable through September 2025. (See Note 1.)Notes PayableOn April 1, 2021, CCP entered into a loan agreement ("CCP Note") with CFC, which provides CFC with up to $4.0 million to fund commercial loans secured by graded sports cards to its borrowers. All loans to be funded using the proceeds from the CCP Note are subject to CCP’s prior written approval. In March 2024, the expiration date for the CCP Note was amended to expire on April 1, 2026; the CCP Note may be further extended by mutual agreement. As of December 31, 2024 and June 30, 2024, the outstanding principal balance of the CCP Note was $4.0 million and $4.0 million, respectively.

34

In June 2024, SGB declared a $15.9 million dividend to existing shareholders based on certain levels of working capital. $11.9 million of the dividend was paid to certain shareholders during the six months ended December 31, 2024, which includes a dividend paid to the Company from SGB in September 2024 of $7.5 million. The remaining unpaid dividend of $4.0 million and $8.4 million due to the other shareholders as of December 31, 2024 and June 30, 2024, respectively, was recorded as a note payable by SGB.Share RepurchasesIn November 2024