clct20191231

Income Tax Disclosure [Text Block]

5.	INCOME TAXES

The income tax provisions in the

three

and

six

months ended

December 31, 2019,

were determined based on estimated annual effective tax rates of approximately

20%

and

22%,

respectively, as compared to

28%

and

26%

in the

three

and

six

months ended

December 31, 2018.

The current year effective tax rates reflect the release of valuation allowances for prior year losses in China. All periods were adjusted for excess tax benefits or deficiencies.

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Note 9 - Leases

6 Months Ended

Dec. 31, 2019

Lessee, Operating Leases [Text Block]

LEASES

The Company has operating leases for office facilities and certain equipment. Our leases have remaining terms of

year to

years, some of which included options to extend. We did

not

include options to extend in our determination of the valuation of our right-of-use (ROU) assets and lease liabilities, as it was

not

considered probable that we will exercise those options. Lease expense is recognized on a straight-line basis over the lease term. Some of our leases have variable payments of property taxes, insurance and common area maintenance, in addition to base rent. These variable payments are expensed when incurred and are recorded as variable rent expense.

Information related to the Company’s total lease costs were as follows (in thousands):

	Three Months Ended December 31, 2019		Six Months Ended December 31, 2019

Operating lease cost	$	533	$	1,069
Variable lease cost		113		224
Total lease cost	$	646	$	1,293

Information related to the Company’s ROU assets and related lease liabilities were as follows (in thousands):

	Six Months Ended December 31, 2019

Cash paid for operating lease liabilities	$	1,148
Weighted-average remaining lease term (years)	7.6
Weighted-average discount rate		4.8	%

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancellable operating leases with terms of more than

one

year to the total operating lease liabilities recognized on the condensed consolidated balance sheets as of

December 31, 2019 (

in thousands):

2020(remaining 6 months)	$	1,191
2021		2,355
2022		2,013
2023		1,656
2024		1,473
Thereafter		6,541
Total undiscounted future minimum lease payments		15,229
Less: Imputed interest		(2,539	)
Total operating lease liabilities	$	12,690
Current operating lease liabilities	$	2,324
Long-term operating lease liabilities		10,366
Total operating lease liabilities	$	12,690

As of

December 31, 2019,

we do

not

have additional finance or operating leases that have

not

yet commenced that would create significant obligations for us.

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Note 3 - Property and Equipment (Tables)

6 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Table Text Block]

Property and equipment consist of the following (in thousands):

	December 31,			June 30,
	201 9			201 9
Coins grading reference sets	$	68		$	68
Computer hardware and equipment		2,583			2,325
Computer software		1,752			1,606
Equipment		5,402			5,131
Furniture and office equipment		1,014			944
Leasehold improvements		4,772			4,741
Trading card reference library		52			52
		15,643			14,867
Less accumulated depreciation and amortization		(8,488	)		(7,608	)
Property and equipment, net	$	7,155		$	7,259

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Note 9 - Leases (Tables)

6 Months Ended

Dec. 31, 2019

Lease, Cost [Table Text Block]

	Three Months Ended December 31, 2019		Six Months Ended December 31, 2019

Operating lease cost	$	533	$	1,069
Variable lease cost		113		224
Total lease cost	$	646	$	1,293

Lessee, Operating Lease Liabilities [Table Text Block]

	Six Months Ended December 31, 2019

Cash paid for operating lease liabilities	$	1,148
Weighted-average remaining lease term (years)	7.6
Weighted-average discount rate		4.8	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

2020(remaining 6 months)	$	1,191
2021		2,355
2022		2,013
2023		1,656
2024		1,473
Thereafter		6,541
Total undiscounted future minimum lease payments		15,229
Less: Imputed interest		(2,539	)
Total operating lease liabilities	$	12,690
Current operating lease liabilities	$	2,324
Long-term operating lease liabilities		10,366
Total operating lease liabilities	$	12,690

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Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Warranty reserves	$ 780	$ 852
Professional fees	124	141
Other	928	880
	$ 1,832	$ 1,873

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Note 1 - Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2019

Significant Accounting Policies [Text Block]

1.	SUMMARY OF Significant Accounting Policies

Principles of Consolidation

December 31, 2019,

our operating subsidiaries were Certified Asset Exchange, Inc. (“CAE”), Collectors Universe (Hong Kong) Limited, Collectors Universe (Shanghai) Limited, Collectors Universe (Japan) Limited, and Expos, LLC. (“Expos”), all of which are ultimately

100%

owned by Collectors Universe, Inc. All significant intercompany transactions and accounts have been eliminated in consolidation.

Unaudited Interim Financial Information

three

and

six

months ended

December 31, 2019

are

not

necessarily indicative of the results that

may

be expected for the full year ending

June 30, 2020

or for any other interim period during such year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form

-K for the fiscal year ended

June 30, 2019,

as filed with the SEC (our “Fiscal

2019

-K”). Amounts related to disclosure of

June 30, 2019

balances within these interim condensed consolidated financial statements were derived from the aforementioned audited consolidated financial statements and the notes thereto.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Leases

Effective

July 1, 2019

the Company adopted Accounting Standards Codification (“ASC”)

842

Accounting for Leases

. The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases. Therefore, the Condensed Consolidated Balance Sheet at

December 31, 2019,

includes the liability to make lease payments (the lease liability) and a right-of-use asset, representing our right to use the underlying asset for the lease term. We elected

not

to recognize lease assets and liabilities for leases with a term of

months or less and are recognizing lease expenses for such leases on a straight-line basis over the lease term. The Company adopted this new accounting guidance, utilizing the current period adoption method without revising comparative periods and elected

not

to reassess existing leases. There was

material impact on the Company’s operating results arising from the adoption of this new guidance. See “

Note

-Leases

” for additional information.

Revenue Recognition

The core principle of ASC

606,

Revenue from Contracts with Customers

, is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying ASC

606,

all revenue transactions must be evaluated using a

five

-step approach to determine the amount and timing of revenue to be recognized. The

five

-step approach requires (

) identifying the contract with the customer, (

) identifying the performance obligations in the contract, (

) determining the transaction price, (

) allocating the transaction price to the performance obligations in the contract and (

) recognizing revenue when performance obligations are satisfied.

Our primary source of revenue is the authentication and grading of collectibles, which represented about

90%

of our consolidated revenues in the

six

months ended

December 31, 2019.

Our other sources of revenues represent the balance of our revenues which are small and individually account for less than

of total revenues.

In accordance with ASC

606

we recognize revenue for our main revenue streams as follows:

Authentication and Grading Revenues:

As the time it takes to authenticate and grade the collectible is short, we recognize revenue at the time of shipment (i.e. point of time) of the authenticated graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible back to the customer, the time of shipment corresponds to the completion of our services. We recognize revenue for the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to the customer. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend credit, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. We provide a limited warranty covering the coins and trading cards that we authenticate and grade. See

Warranty C

osts

below.

Collectors Club Revenues:

These revenues represent membership fees paid by customers for annual memberships in our Collectors Club. Those membership fees entitle members to access our on-line and printed publications and, depending on their membership level, to receive vouchers for authentication and grading services during the membership period. We allocate revenue between the vouchers and the membership. We recognize revenue attributable to the authentication and grading vouchers consistent with our Authentication and Grading services above. The balance of the membership fees is recognized ratably over the life of the membership. Memberships are paid in advance of the membership period and prepaid memberships fees are classified as deferred revenue. In the event vouchers expire unused (i.e. there are unexercised customer rights), we consider the guidance under ASC

606

in determining when to recognize revenue.

Certified Coin Exchanges Subscription Revenues:

We recognize subscription revenues related to our CCE exchange for certified coins, ratably over the relevant subscription period. Subscriptions are typically billed and paid on a monthly basis, although certain quarterly and annual subscriptions can be paid in advance. Prepaid subscriptions are classified as part of deferred revenue.

Expos Trade Show Revenue:

We recognize fees earned from promoting, managing, and operating trade shows in the periods in which the shows take place. Trade show booth fees are typically paid to us in advance. Certain fees that are paid to conduct auctions at the show are paid to us at the end of the show. Prepaid show fees are classified as part of deferred revenue.

Advertising and Commission Revenues:

Advertising revenues are recognized in the period when an advertisement is displayed in our publications or websites and customers typically have

day credit terms. Click-through commission revenues earned through our websites from

third

party affiliate programs are recognized in the period in which the commissions are earned, and such commissions are paid in the following month.

Coin Sales:

Coin sales consist primarily of sales of collectibles coins that we have purchased pursuant to our coin authentication and grading warranty program. We recognize revenues from coin sales when the coins are shipped or delivered to customers or if the coins are sold through auction, when the auction settles. However, those sales are

not

considered to be the focus of nor an integral part of the Company’s ongoing revenue generating activities.

Contract Balances.

As discussed above, the timing of revenue recognition can differ from the timing of invoicing to customers. Contract liabilities are comprised of billings or payments received from our customers in advance of performance under the contract. We refer to these contract liabilities as “Deferred Revenue” in the accompanying condensed consolidated balance sheets. During the

three

and

six

months ended

December 31, 2019,

we recognized

$755,000

and

$2,503,000,

respectively, in revenue from the deferred revenue balance of

$3,428,000

June 30, 2019.

Shipping and Handling Costs

606.

Use of Estimates

Goodwill and Other Long-Lived

Assets

We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment

may

have occurred. Qualitative factors are considered in performing our goodwill impairment assessment, including the significant excess of fair value over carrying value in prior years, and any material changes in the estimated cash flows of the reporting unit. We also evaluate the carrying values of all other tangible and intangible assets for impairment if circumstances arise which indicate that the carrying values of these assets

may

not

be recoverable on the basis of future undiscounted cash flows. We determined that

impairment of goodwill or other long-lived assets existed as of

December 31, 2019.

Foreign Currency

not

material in any periods.

Stock-Based Compensation

Restricted Stock Awards:

and

201

Long Term Incentive Plan

(“LTIP

”)

Retention Restricted Service Shares

(“RSUs”)

To create incentives for the officers and other key employees (“LTIP Participants”) to remain in the Company's service, RSUs were granted to them as follows:

Annual Grants

. A total, net of forfeitures, of

25,952

and

44,763

RSUs were granted in fiscal

2020

and

2019,

respectively, with vesting in

three

annual installments on the last day of the fiscal years following the grants, with the vesting of each such installment contingent on the Participant remaining in the continuous service of the Company through the vesting date of that installment.

Fiscal

and

2019

Performance Restricted Shares

(“

PSUs

”)

three

years ending

June 30, 2021

and

2022,

(the “Performance Periods”), in fiscal

2020

and

2019,

the Compensation Committee granted

51,905

and

89,542

PSUs (at maximum), respectively, to LTIP Participants. Vesting of the PSUs was made dependent upon the achievement of net cash flow goals on an annual basis for the performance periods, subject to possible downward or upward adjustment of

20%

of the PSUs, based on a comparison of the Company’s total shareholder return (“TSR”) for each Performance Period, to the TSR of the Russell

2000

Index, for the same Performance Period. Threshold, target and maximum net cash flow goals were established for fiscal years

2020

and

2019.

Grant dates will be established for future year’s PSUs early in those fiscal years which will give rise to grant dates for expense recognition purposes.

For any of the PSUs to vest, a Participant must remain in the continuous service of the Company through

June 30, 2021

for the fiscal

2019

PSUs and

June 30, 2022

for the fiscal

2020

PSUs, and the threshold net cash flows goal must be achieved in at least

one

of the years, in the

three

year Performance Period. Stock-based compensation expense of

$109,000

and

$186,000

was recognized in the

three

and

six

months ended

December 31, 2019

respectively, for these PSUs. There was

expense for PSUs in the

three

and

six

months ended

December 31, 2018.

Total stock-based compensation in the

three

and

six

months ended

December 31, 2019,

was

$341,000

and

$605,000,

respectively as compared to

$205,000

and

$468,000,

respectively, in the

three

and

six

months ended

December 31, 2018.

Concentrations

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.

Financial Instruments and Cash Balances.

December 31, 2019,

we had cash and cash equivalents totaling approximately

$22,189,000,

of which approximately

$18,194,000

was invested in money market accounts, and the balance of

$3,995,000

(which is inclusive of cash in overseas bank accounts) was in non-interest bearing bank accounts for general day-to-day operations. At

December 31, 2019,

cash in overseas bank accounts was approximately

$1,689,000,

of which

$1,180,000

was in China. We plan to remit excess cash from China in accordance with Chinese exchange control regulations. Due to those exchange control regulations in China, delays can be experienced in transferring funds from China.

Substantially all of our cash in the United States is deposited at

one

FDIC insured financial institution. We maintained cash due from banks, inclusive of cash in overseas accounts, in excess of the bank’s FDIC insured deposit limits of approximately

$19,793,000

December 31, 2019.

Revolving Credit Line.

As previously reported, in

January 2017

we obtained a

three

-year,

$10,000,000

unsecured revolving credit line from a commercial bank to enhance the Company’s liquidity and to support the growth of the Company’s business. In

January 2020,

the bank extended the maturity date of the line of credit by

days to enable the bank and the Company to establish a new line of credit with expected similar terms to the existing line of credit. We are entitled to obtain borrowings under the existing credit line at such times and in such amounts as we

may

request, provided that the maximum principal amount of credit line borrowings that

may

be outstanding at any

one

time

may

not

exceed

$10,000,000.

We also

may

repay outstanding borrowings in whole or in part at any time or from time to time and reborrow amounts based upon availability under the line of credit, except that

borrowings

may

be outstanding under the credit line during a

consecutive day “out of loan” period each year. Borrowings bear interest, at the Company’s option, at LIBOR plus

2.25%

or at

0.25%

below the highest prime lending rate published from time to time by the Wall Street Journal. The Company is required to pay a quarterly unused commitment fee of

0.0625%

of the amount by which (if any) that the average of the borrowings outstanding under the credit line in any calendar quarter is less than

$4,000,000.

There were

borrowings outstanding under the credit line at

December 31, 2019.

We were in compliance with all of our financial and other covenants under our credit line agreement at

December 31, 2019.

Term Loan

As previously reported, on

September

15,

2017

the Company obtained a

five

-year,

$3,500,000

unsecured term loan. In

October 2018,

the Company began repaying the loan balance of

$3,000,000

equal monthly principal payments of

$62,500,

$750,000

on an annual basis, through

September 2022.

There are

prepayment penalties on loan repayments.

The term loan agreement contains

two

financial covenants, which require the Company to maintain (a) a funded debt coverage ratio and (b) a debt service coverage ratio, respectively. The loan agreement also contains certain other covenants typical for this type of loan, including a covenant which provides that, without the bank’s consent, the Company

may

not

incur additional indebtedness for borrowed money, except for (i) borrowings under the Company’s revolving credit line, (ii) purchase money indebtedness and (iii) capitalized lease obligations. The Company was in compliance with the loan covenants at

December 31, 2019

and

June 30, 2019.

December 31, 2019,

the Company had

$2,063,000

of outstanding borrowings under the term loan of which

$750,000

is classified as a current liability and

$1,313,000

is classified as a long-term liability in the consolidated condensed balance sheet at

December 31, 2019.

Accounts Receivable.

A substantial portion of accounts receivable are due from collectibles dealers.

individual customer’s accounts receivable balance exceeded

10%

of the Company’s total gross accounts receivable balances at

December 31, 2019.

One individual customer’s accounts receivable balance exceeded

10%

of the Company’s total gross accounts receivable balances at

June 30, 2019.

We perform analyses of the expected collectability of accounts receivable based on several factors, including the age and extent of significant past due accounts and economic conditions or trends that

may

adversely affect the ability of debtors to pay their account receivable balances. Based on that review, we establish allowances for doubtful accounts, when deemed necessary. The allowances for doubtful accounts receivable were

$99,000

and

$72,000

December 31, 2019

and

June 30, 2019,

respectively. Ultimately, we will write-off accounts receivable balances when it is determined that there is

possibility of collection.

Coin and Cards / Autograph Revenues

. The authentication and grading of coins and cards / autographs including related services, accounted for approximately

95%

of our net revenues for

six

months ended

December 31, 2019,

as compared to

94%

of our net revenues for the

six

months ended

December 31, 2018.

Customers.

Our top

five

customers accounted, in the aggregate, for approximately

11%

and

10%

of our total revenues in the

three

and

six

months ended

December 31, 2019,

as compared to

11%

and

10%

of revenues in the same periods of the prior year.

Inventories

first

-in

first

-out method) or market. Inventories are periodically reviewed to identify slow-moving items, and an allowance for inventory losses is recognized, as considered necessary. It is possible that our estimates of market value of collectible coins in inventory could change due to market conditions in the various collectibles markets served by the Company, which could require us to increase that allowance for inventory losses.

Capitalized Software

three

years. In the

three

and

six

months ended

December 31, 2019

we capitalized approximately

$342,000

and

$621,000,

respectively, of software development costs as compared to

$274,000

and

$468,000,

respectively in the

three

and

six

months ended

December 31, 2018.

In the

three

and

six

months ended

December 31, 2019,

we recorded approximately

$261,000

and

$490,000,

respectively, as amortization expense for capitalized software as compared to

$192,000

and

$429,000,

respectively, in the

three

and

six

months ended

December 31, 2018.

Planning, training, support and maintenance costs incurred either prior to or following the implementation phase of software development projects are recognized as expense in the period in which they are incurred. We evaluate the carrying value of capitalized software for possible impairment, and, if necessary, an impairment loss is recorded in the period in which any impairment is determined to have occurred.

Warranty Costs

not

to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared to its value at its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is

not

in the same tamper-evident holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience. We monitor the adequacy of our warranty reserves on an ongoing basis for significant warranty claims resulting from resubmissions receiving lower grades or deemed

not

to have been authentic. Warranty expense recognized in the

three

and

six

months ended

December 31, 2019

was

$116,000

and

$157,000,

respectively, as compared to

$218,000

and

$330,000,

respectively, in the

three

and

six

months ended

December 31, 2018.

Dividends

In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of

$0.175

per share of common stock in the

first

and

second

quarters of fiscal

2020

and

2019.

The declaration of cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources, its cash requirements and alternative uses of cash that the Board

may

conclude would represent an opportunity to generate a greater return on investment for the Company.

Recent Accounting Pronouncements

June 2016,

the FASB issued Accounting Standards Update

2016

13,

Financial Instruments-Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instrument.

Subsequent to the issuance of ASU

2016

13,

the FASB clarified the guidance through several ASUs. The collective new guidance (ASC

326

) generally requires entities to use a current expected credit loss model, which is a new impairment model based on expected losses rather than incurred losses. Under this model, an entity would recognize an impairment allowance equal to its current estimate of all contractual cash flows that the entity does

not

expect to collect. The entity’s estimate would consider relevant information about past events, current conditions, and reasonable and supportable forecasts. ASC

326

is effective for annual and interim fiscal reporting periods beginning after

December 15, 2020,

with early adoption permitted for annual reporting periods beginning after

December 15, 2018.

The Company is continuing to evaluate the expected impact of this ASC

326

but does

not

expect it to have a material impact on its consolidated financial statements upon adoption.

January 2017,

FASB issued

2017

04,

Simplifying the Test for Goodwill Impairment

. The updated guidance eliminates step

from the goodwill impairment test. Instead, an entity would perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized would

not

exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity would consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for fiscal years beginning after

December 15, 2022.

The guidance is

not

expected to have a material effect on the Company’s financial statements.

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Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Accounts receivable, allowance	$ 99	$ 72
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	3,000	3,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000	20,000
Common stock, sahres issued (in shares)	9,238	9,153
Common stock, shares outstanding (in shares)	9,238	9,153

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Note 7 - Business Segments (Tables)

6 Months Ended

Dec. 31, 2019

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	201 9			201 8			201 9			201 8
Net revenues from external customers:
Coins (1)	$	10,700		$	8,879		$	21,682		$	19,000
Trading cards / autographs		8,078			6,006			16,172			12,106
Other		678			819			1,812			2,093
Consolidated total revenue	$	19,456		$	15,704		$	39,666		$	33,199
Amortization and depreciation:
Coins	$	382		$	330		$	746		$	654
Trading cards / autographs		174			141			325			281
Other		84			96			176			245
Total		640			567			1,247			1,180
Unallocated amortization and depreciation		119			119			222			248
Consolidated amortization and depreciation	$	759		$	686		$	1,469		$	1,428
Stock-based compensation:
Coins	$	63		$	(9	)	$	114		$	56
Trading cards / autographs		27			6			44			10
Other		11			7			19			14
Total		101			4			177			80
Unallocated stock-based compensation		240			201			428			388
Consolidated stock-based compensation	$	341		$	205		$	605		$	468
Operating income:
Coins	$	2,864		$	1,526		$	6,618		$	3,855
Trading cards / autographs		1,940			1,708			4,195			3,271
Other		225			331			533			674
Total		5,029			3,565			11,346			7,800
Unallocated operating expenses		(1,755	)		(1,351	)		(3,435	)		(2,759	)
Consolidated operating income	$	3,274		$	2,214		$	7,911		$	5,041

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	December 31 ,		June 30,
	201 9		201 9
Identifiable Assets:
Coins	$	11,094	$	9,398
Trading cards / autographs		4,083		3,753
Other		2,405		2,468
Total		17,582		15,619
Unallocated assets		32,472		22,074
Consolidated assets	$	50,054	$	37,693
Goodwill:
Coins	$	515	$	515
Other		1,568		1,568
Consolidated goodwill	$	2,083	$	2,083

XML 24 R26.htm IDEA: XBRL DOCUMENT

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Property and equipment, gross	$ 15,643	$ 14,867
Less accumulated depreciation and amortization	(8,488)	(7,608)
Property and equipment, net	7,155	7,259
Coins Grading Reference Sets [Member]
Property and equipment, gross	68	68
Computer Equipment [Member]
Property and equipment, gross	2,583	2,325
Computer Software [Member]
Property and equipment, gross	1,752	1,606
Equipment [Member]
Property and equipment, gross	5,402	5,131
Furniture and Office Equipment [Member]
Property and equipment, gross	1,014	944
Leasehold Improvements [Member]
Property and equipment, gross	4,772	4,741
Trading Card Reference Library [Member]
Property and equipment, gross	$ 52	$ 52

XML 25 R6.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,227,000	$ 3,612,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization expense	1,469,000	1,428,000
Stock-based compensation expense	605,000	468,000
Non-cash lease expense	(110,000)
Provision (recovery) for bad debts	27,000	(1,000)
Provision for inventory write-down	173,000	168,000
Provision for warranty	157,000	330,000
Change in operating assets and liabilities:
Accounts receivable	175,000	441,000
Inventories	(411,000)	(12,000)
Prepaid expenses and other	(371,000)	243,000
Other assets	1,000	6,000
Accounts payable and accrued liabilities	307,000	(398,000)
Accrued compensation and benefits	(490,000)	(689,000)
Income taxes payable	(529,000)	85,000
Deferred revenue	687,000	326,000
Deferred rent		344,000
Net cash provided by operating activities	7,917,000	6,351,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(803,000)	(505,000)
Capitalized software	(621,000)	(468,000)
Net cash used in investing activities	(1,424,000)	(973,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments under Term Loan	(375,000)	(188,000)
Dividends paid to common stockholders	(3,154,000)	(3,351,000)
Net cash used in financing activities	(3,529,000)	(3,539,000)
Net increase in cash and cash equivalents	2,964,000	1,839,000
Cash and cash equivalents at beginning of period	19,225,000	10,581,000
Cash and cash equivalents at end of period	22,189,000	12,420,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	65,000	79,000
Income taxes paid during the period	$ 2,283,000	$ 1,319,000

XML 26 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2019	Jun. 30, 2019
ASSETS
Cash and cash equivalents	$ 22,189,000	$ 19,225,000
Accounts receivable, net of allowance of $99 and $72 at December 31 and June 30, 2019, respectively	2,207,000	2,408,000
Inventories, net	2,203,000	1,965,000
Prepaid expenses and other current assets	1,771,000	1,400,000
Total current assets	28,370,000	24,998,000
Property and equipment, net	7,155,000	7,259,000
Operating lease right-of-use assets	9,035,000
Goodwill	2,083,000	2,083,000
Intangible assets, net	2,388,000	2,329,000
Deferred income tax assets	561,000	561,000
Other assets	462,000	463,000
Total assets	50,054,000	37,693,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	3,032,000	2,540,000
Accrued liabilities	1,832,000	1,873,000
Accrued compensation and benefits	3,605,000	4,095,000
Current portion of long-term debt	750,000	750,000
Current operating lease liabilities	2,324,000
Income taxes payable	79,000	608,000
Deferred revenue	4,115,000	3,428,000
Total current liabilities	15,737,000	13,294,000
Long Term Debt	1,313,000	1,688,000
Operating lease liabilities, non-current	10,366,000
Deferred rent		3,764,000
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $.001 par value; 3,000 shares authorized; no shares issued or outstanding
Common stock, $.001 par value; 20,000 shares authorized; 9,238 and 9,153 issued and outstanding at December 31 and June 30, 2019, respectively.	9,000	9,000
Additional paid-in capital	87,948,000	87,343,000
Accumulated deficit	(65,319,000)	(68,405,000)
Total stockholders’ equity	22,638,000	18,947,000
Total liabilities and stockholders’ equity	$ 50,054,000	$ 37,693,000

XML 27 R37.htm IDEA: XBRL DOCUMENT

Note 9 - Leases - Lease Liabilities (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019 USD ($)
Cash paid for operating lease liabilities	$ 1,148
Weighted-average remaining lease term (years) (Year)	7 years 219 days
Weighted-average discount rate	4.80%

XML 28 R33.htm IDEA: XBRL DOCUMENT

Note 7 - Business Segments - Segment Reporting Information (Details) - USD ($)

3 Months Ended

6 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

$ 19,456,000

$ 15,704,000

$ 39,666,000

$ 33,199,000

759,000

686,000

1,469,000

1,428,000

341,000

205,000

605,000

468,000

Operating Segments [Member]

3,274,000

2,214,000

7,911,000

5,041,000

640,000

567,000

1,247,000

1,180,000

101,000

4,000

177,000

80,000

Segment Reconciling Items [Member]

5,029,000

3,565,000

11,346,000

7,800,000

119,000

222,000

248,000

240,000

201,000

428,000

388,000

Coins [Member] | Operating Segments [Member]

(1,755,000)

(1,351,000)

(3,435,000)

(2,759,000)

^[1]

10,700,000

8,879,000

21,682,000

19,000,000

382,000

330,000

746,000

654,000

63,000

(9,000)

114,000

56,000

Trading Cards and Autographs [Member] | Operating Segments [Member]

2,864,000

1,526,000

6,618,000

3,855,000

8,078,000

6,006,000

16,172,000

12,106,000

174,000

141,000

325,000

281,000

27,000

6,000

44,000

10,000

Other Segments [Member] | Operating Segments [Member]

1,940,000

1,708,000

4,195,000

3,271,000

678,000

819,000

1,812,000

2,093,000

84,000

96,000

176,000

245,000

11,000

7,000

19,000

14,000

$ 225,000

$ 331,000

$ 533,000

$ 674,000

[1]	Includes service revenues of $2.4 million generated from outside the United States in the three months ended September 30, 2019 as compared to $1.7 million in the three months ended September 30, 2018.

XML 29 R18.htm IDEA: XBRL DOCUMENT

Note 2 - Inventories (Tables)

6 Months Ended

Dec. 31, 2019

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following (in thousands):
	December 31 ,			June 30,
	201 9			201 9
Coins	$	185		$	173
Grading raw materials consumable inventory		3,469			3,070
		3,654			3,243
Less inventory reserve		(1,451	)		(1,278	)
Inventories, net	$	2,203		$	1,965

XML 30 R10.htm IDEA: XBRL DOCUMENT

Note 4 - Accrued Liabilities

6 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

4.	ACCRUED LIABILITIES

Accrued liabilities consist of the following (in thousands):

	December 31 ,		June 30,
	201 9		201 9
Warranty reserves	$	780	$	852
Professional fees		124		141
Other		928		880
	$	1,832	$	1,873

The following table presents the changes in the Company’s warranty reserve during the

six

months ended

December 31, 2019

and

2018

(in thousands):

	Six Months Ended December 31 ,
	201 9			201 8
Warranty reserve beginning of period	$	852		$	862
Provision charged to cost of revenues		157			330
Payments		(229	)		(362	)
Warranty reserve, end of period	$	780		$	830

XML 31 R14.htm IDEA: XBRL DOCUMENT

Note 8 - Contingencies

6 Months Ended

Dec. 31, 2019