Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 185

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 185
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 options to its customers to finance their precious metals purchases including consignments and other structured inventory finance products. Furthermore, our customers may enter into agreements whereby the customer agrees to repurchase our precious metals at the prevailing spot price for delivery of the product at a specific point in time in the future; interest income is earned from the contract date until the material is delivered and paid for in full.

We may also raise funds through the public or private offering of equity or debt securities, although there is no assurance that we will be able to do so at the times and in the amounts required.

We continually review our overall credit and capital needs to ensure that our capital base, both stockholders’ equity and available credit facilities, can appropriately support our anticipated financing needs. The Company also continually monitors its current and forecasted cash requirements and draws upon and pays down its lines of credit so as to minimize interest expense. See Note 15 to the Company's condensed consolidated financial statements.

74

Lines of Credit 

    in thousands

    December 31, 2024

    June 30, 2024

    Change

    Lines of credit
     
    $
    225,000

    $
    245,000

    $
    (20,000
    )

Effective December 21, 2021, A-Mark entered into a committed borrowing facility (the "Trading Credit Facility") with CIBC Bank USA, as agent and joint lead arranger, and a syndicate of banks. As of December 31, 2024, the Trading Credit Facility provided the Company with access up to $422.5 million and has a maturity date of September 30, 2026. (See Note 15 and Note 20.)

A-Mark routinely uses funds drawn under the Trading Credit Facility to purchase metals from its suppliers and for other operating cash flow purposes. Our CFC subsidiary also uses the funds drawn under the Trading Credit Facility to finance certain of its lending activities.

Notes Payable

    in thousands

    December 31, 2024

    June 30, 2024

    Change

    Notes payable — short-term
     
    $
    4,020

    $
    8,367

    $
    (4,347
    )

    Notes payable — long-term

    3,994

    3,994

    —

    $
    8,014

    $
    12,361

    $
    (4,347
    )