|
|
|
þ
|
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
|
|
|
o
|
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
|
|
|
Nevada
|
|
88-0097334
|
(State
or other jurisdiction of
|
|
(I.R.S.
Employer
|
incorporation
or organization)
|
|
Identification
No.)
|
|
|
|
|
|
Large
accelerated filer
o
|
|
Accelerated
filer
o
|
|
Non-accelerated
filerþ
|
|
|
|
Class
|
|
Outstanding
|
Common
stock, $.01 par value per share
|
|
9,899,664
|
Page
No.
|
||||
PART
I.
|
FINANCIAL
INFORMATION
|
|||
Item
1.
|
Consolidated
Financial Statements.
|
|||
Consolidated
Balance Sheets as of September 30, 2007 and December 31,
2006
|
1
|
|||
Consolidated
Statements of Operations for the three months ended September 30,
2007 and
2006
|
2
|
|||
Consolidated
Statements of Operations for the nine months ended September 30,
2007 and
2006
|
3
|
|||
Consolidated
Statements of Cash Flows for the nine months ended September 30,
2007 and
2006
|
4
|
|||
Notes
to Consolidated Financial Statements
|
5
|
|||
|
||||
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations.
|
11
|
||
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk.
|
15
|
||
Item
4.
|
Controls
and Procedures.
|
15
|
||
PART
II.
|
OTHER
INFORMATION
|
|||
Item
1.
|
Legal
Proceedings.
|
16
|
||
Item
1A.
|
Risk
Factors
|
17
|
||
Item
4.
|
Submission
of Matters to a Vote of Security Holders.
|
21
|
||
Item
5.
|
Other
Information.
|
21
|
||
Item
6.
|
Exhibits.
|
21
|
||
SIGNATURES
|
25
|
September
30,
2007
|
December
31,
2006
|
||||||
Unaudited
|
|||||||
ASSETS
|
|||||||
Current
Assets:
|
|||||||
Cash
and cash equivalents
|
$
|
1,380,668
|
$
|
1,210,282
|
|||
Trade
receivables
|
4,073,794
|
1,053,454
|
|||||
Inventories
|
12,437,162
|
7,796,028
|
|||||
Prepaid
expenses
|
609,816
|
192,379
|
|||||
Prepaid
federal income tax
|
—
|
97,472
|
|||||
Total
current assets
|
18,501,440
|
10,349,615
|
|||||
Marketable
securities - available for sale
|
57,879
|
57,879
|
|||||
Property
and equipment, net
|
590,847
|
1,024,405
|
|||||
Deferred
income taxes
|
18,031
|
7,152
|
|||||
Goodwill
|
13,211,152
|
837,117
|
|||||
Other
assets
|
393,915
|
869,398
|
|||||
$
|
32,773,264
|
$
|
13,145,566
|
||||
LIABILITIES
|
|||||||
Current
Liabilities:
|
|||||||
Notes
payable
|
$
|
183,708
|
$
|
183,708
|
|||
Current
maturities of long-term debt
|
215,354
|
259,273
|
|||||
Accounts
payable - trade
|
1,000,047
|
828,323
|
|||||
Accrued
expenses
|
783,787
|
721,305
|
|||||
Customer
deposits
|
360,274
|
171,912
|
|||||
Federal
income tax payable
|
302,157
|
—
|
|||||
Total
current liabilities
|
2,845,327
|
2,164,521
|
|||||
Long-term
debt, less current maturities
|
9,794,247
|
4,303,685
|
|||||
12,639,574
|
6,468,206
|
||||||
STOCKHOLDERS’
EQUITY
|
|||||||
Common
stock, $.01 par value; 30,000,000 shares authorized; 9,470,357 and
4,913,290 shares issued and outstanding at the end of each period
in 2007
and 2006, respectively
|
94,704
|
49,133
|
|||||
Additional
paid-in capital
|
18,374,867
|
5,708,760
|
|||||
Accumulated
other comprehensive loss
|
(132,245
|
)
|
(132,245
|
)
|
|||
Retained
earnings
|
1,796,364
|
1,051,712
|
|||||
20,133,690
|
6,677,360
|
||||||
$
|
32,773,264
|
$
|
13,145,566
|
Three
months ended September30,
|
|||||||
2007
|
2006
|
||||||
Unaudited
|
|||||||
Revenue
|
|||||||
Sales
|
$
|
16,771,838
|
$
|
9,497,528
|
|||
Consumer
loan service charges
|
84,475
|
51,119
|
|||||
16,856,313
|
9,548,647
|
||||||
Costs
and expenses
|
|||||||
Cost
of goods sold
|
13,891,332
|
8,077,048
|
|||||
Selling,
general and administrative expenses
|
2,726,610
|
1,186,023
|
|||||
Depreciation
and amortization
|
96,584
|
19,515
|
|||||
16,714,526
|
9,282,586
|
||||||
Operating
income
|
141,787
|
266,061
|
|||||
Other
expense (income)
|
|||||||
Interest
expense
|
182,704
|
78,646
|
|||||
Other
income
|
(577,198
|
)
|
—
|
||||
Earnings
before income taxes
|
536,281
|
187,415
|
|||||
Income
tax expense
|
182,336
|
63,721
|
|||||
Net
earnings from continuing operations
|
353,945
|
123,694
|
|||||
Discontinued
operations:
|
|||||||
Loss
from discontinued operations (less applicable income tax benefit
of $771
and $7,623, respectively)
|
1,498
|
14,798
|
|||||
Loss
on disposal of discontinued operations (less applicable income tax
benefit
of $35,053 and $0, respectively)
|
68,043
|
—
|
|||||
Net
earnings
|
$
|
284,404
|
$
|
108,896
|
|||
Earnings
per common share - basic
|
$
|
0.03
|
$
|
0.02
|
|||
Earnings
per common share - diluted
|
$
|
0.03
|
$
|
0.02
|
|||
Weighted
average number of common shares:
|
|||||||
Basic
|
8,582,357
|
4,913,290
|
|||||
Diluted
|
10,392,717
|
5,056,133
|
Nine
months ended September 30,
|
|||||||
2007
|
2006
|
||||||
Unaudited
|
|||||||
Revenue
|
|||||||
Sales
|
$
|
39,100,108
|
$
|
31,570,446
|
|||
Consumer
loan service charges
|
193,775
|
144,666
|
|||||
Management
fees
|
250,000
|
—
|
|||||
39,543,883
|
31,715,112
|
||||||
Costs
and expenses
|
|||||||
Cost
of goods sold
|
32,518,275
|
26,986,825
|
|||||
Selling,
general and administrative expenses
|
5,697,795
|
3,543,562
|
|||||
Depreciation
and amortization
|
196,127
|
69,154
|
|||||
38,412,197
|
30,599,541
|
||||||
Operating
income
|
1,131,686
|
1,115,571
|
|||||
Other
expense (income)
|
|||||||
Interest
expense
|
427,840
|
229,227
|
|||||
Other
income
|
(579,449
|
)
|
—
|
||||
Earnings
before income taxes
|
1,283,295
|
886,344
|
|||||
Income
tax expense
|
436,321
|
301,357
|
|||||
Net
earnings from continuing operations
|
846,974
|
584,987
|
|||||
Discontinued
operations:
|
|||||||
Loss
from discontinued operations (less applicable income tax benefit
of
$17,659 and $29,693, respectively)
|
34,279
|
57,640
|
|||||
Loss
disposal of discontinued operations (less applicable income tax benefit
of
$35,053 and $0, respectively)
|
68,043
|
—
|
|||||
Net
earnings
|
$
|
744,652
|
$
|
527,347
|
|||
Earnings
per common share - basic
|
$
|
0.11
|
$
|
0.11
|
|||
Earnings
per common share - diluted
|
$
|
0.10
|
$
|
0.11
|
|||
Weighted
average number of common shares:
|
|||||||
Basic
|
6,543,986
|
4,913,290
|
|||||
Diluted
|
7,395,848
|
4,989,065
|
Nine
months ended
September
30,
|
|||||||
2007
|
2006
|
||||||
Unaudited
|
|||||||
Cash
flows from operating activities
|
|||||||
Net
earnings
|
$
|
744,652
|
$
|
527,347
|
|||
Adjustments
to reconcile net earnings to net cash provided by operating
activities
|
|||||||
Depreciation
and amortization
|
196,127
|
69,154
|
|||||
Deferred
taxes
|
(10,879
|
)
|
—
|
||||
Loss
on discontinued operations
|
102,322
|
57,640
|
|||||
Gain
on sale of building
|
(579,447
|
)
|
—
|
||||
Change
in assets and liabilities:
|
|||||||
(Increase)
Decrease in trade receivables
|
(2,380,792
|
)
|
(185,711
|
)
|
|||
(Increase)
Decrease in Inventories
|
(390,218
|
)
|
(881,104
|
)
|
|||
(Increase)
Decrease in prepaid expenses and other assets
|
(221,140
|
)
|
7,204
|
||||
(Increase)
Decrease in other long term assets
|
(98,745
|
)
|
(344,872
|
)
|
|||
Increase
(Decrease) in accounts payable and accrued expenses
|
(998,300
|
)
|
(623,956
|
)
|
|||
Increase
(Decrease) in customer deposits
|
69,549
|
176,026
|
|||||
Increase
(Decrease) in income taxes payable
|
399,629
|
166,971
|
|||||
Net
cash used in operating activities
|
(3,167,242
|
)
|
(1,031,301
|
)
|
|||
Cash
flows from investing activities
|
|||||||
Pawn
loans made
|
(391,136
|
)
|
(387,966
|
)
|
|||
Pawn
loans repaid
|
241,425
|
319,203
|
|||||
Recovery
of pawn loan principal through sale of forfeited collateral
|
94,973
|
67,503
|
|||||
Pay
day loans made
|
(164,289
|
)
|
(207,428
|
)
|
|||
Pay
day loans repaid
|
125,982
|
146,813
|
|||||
Purchase
of property and equipment
|
(119,772
|
)
|
(13,739
|
)
|
|||
Proceeds
from sale of discontinued operations
|
77,496
|
—
|
|||||
Proceeds
from sale of building
|
924,742
|
—
|
|||||
Acquisition
of Euless Gold & Silver
|
(600,000
|
)
|
—
|
||||
Deal
cost for Superior Galleries acquisition
|
(395,280
|
)
|
—
|
||||
Net
cash used in investing activities
|
(205,859
|
)
|
(75,614
|
)
|
|||
Cash
flows from financing activities
|
|||||||
Proceeds
from notes issued
|
4,219,352
|
840,000
|
|||||
Repayments
of notes payable
|
(754,228
|
)
|
(558,637
|
)
|
|||
Conversion
of warrants
|
78,363
|
—
|
|||||
Net
cash provided by financing activities
|
3,543,487
|
281,363
|
|||||
NET
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
170,386
|
(825,552
|
)
|
||||
Cash
and cash equivalents at beginning of period
|
1,210,282
|
1,042,834
|
|||||
Cash
and cash equivalents at end of period
|
$
|
1,380,668
|
$
|
217,282
|
September
30,
2007
|
December
31
2006
|
||||||
Jewelry
|
$
|
9,140,854
|
$
|
7,022,453
|
|||
Rare
coins
|
2,235,141
|
235,099
|
|||||
Bullion
|
354,580
|
113,867
|
|||||
Scrap
gold
|
439,853
|
374,284
|
|||||
Other
|
266,734
|
50,325
|
|||||
Total
|
$
|
12,437,162
|
$
|
7,796,028
|
2007
|
2006
|
||||||||||||||||||
Three
months ended September 30,
|
Three
months ended September 30,
|
||||||||||||||||||
Net
Earnings
|
Shares
|
Per
share
|
Net
Earnings
|
Shares
|
Per
share
|
||||||||||||||
Basic
earnings per common share
|
$
|
284,404
|
8,582,357
|
$
|
0.03
|
$
|
108,096
|
4,913,290
|
$
|
0.02
|
|||||||||
Effect
of dilutive stock options
|
—
|
1,810,360
|
—
|
—
|
142,843
|
—
|
|||||||||||||
Diluted
earnings per common share
|
$
|
284,404
|
10,392,717
|
$
|
0.03
|
$
|
108,096
|
5,056,133
|
$
|
0.02
|
2007
|
2006
|
||||||||||||||||||
Nine
months ended September 30,
|
Nine
months ended September 30,
|
||||||||||||||||||
Net
Earnings
|
Shares
|
|
Per
share
|
|
Net
Earnings
|
|
Shares
|
|
Per
share
|
||||||||||
Basic
earnings per common share
|
$
|
744,652
|
6,543,986
|
$
|
0.11
|
$
|
527,347
|
4,913,290
|
$
|
0.11
|
|||||||||
Effect
of dilutive stock options
|
—
|
851,862
|
(0.01
|
)
|
—
|
75,775
|
—
|
||||||||||||
Diluted
earnings per common share
|
$
|
744,652
|
7,395,848
|
$
|
0.10
|
$
|
527,347
|
4,989,065
|
$
|
0.11
|
(In
thousands)
|
Retail
Jewelry
|
Wholesale
Jewelry
|
Bullion
|
Rare
Coins
|
Auctions
|
Corporate
and Other
|
Consolidated
|
|||||||||||||||
Revenues
|
||||||||||||||||||||||
2007
|
$
|
12,153
|
$
|
3,948
|
$
|
12,027
|
$
|
9,530
|
$
|
1,037
|
$
|
849
|
$
|
39,544
|
||||||||
2006
|
10,885
|
3,775
|
13,117
|
3,659
|
—
|
279
|
31,715
|
|||||||||||||||
Net
earnings (loss)
|
||||||||||||||||||||||
2007
|
325
|
93
|
132
|
34
|
164
|
(3
|
)
|
745
|
||||||||||||||
2006
|
171
|
113
|
181
|
204
|
—
|
(142
|
)
|
527
|
||||||||||||||
Identifiable
assets
|
||||||||||||||||||||||
2007
|
12,004
|
1,067
|
355
|
3,339
|
1,814
|
983
|
19,562
|
|||||||||||||||
2006
|
9,102
|
1,150
|
300
|
266
|
—
|
741
|
11,559
|
|||||||||||||||
Goodwill
|
||||||||||||||||||||||
2007
|
—
|
837
|
—
|
—
|
—
|
12,374
|
13,211
|
|||||||||||||||
2006
|
—
|
837
|
—
|
—
|
—
|
—
|
837
|
|||||||||||||||
Capital
Expenditures
|
||||||||||||||||||||||
2007
|
106
|
—
|
—
|
—
|
—
|
14
|
120
|
|||||||||||||||
2006
|
14
|
—
|
—
|
—
|
—
|
—
|
14
|
|||||||||||||||
Depreciation
and amortization
|
||||||||||||||||||||||
2007
|
91
|
—
|
18
|
18
|
18
|
51
|
196
|
|||||||||||||||
2006
|
67
|
—
|
—
|
—
|
—
|
2
|
69
|
(In
thousands)
|
Retail
Jewelry
|
Wholesale
Jewelry
|
Bullion
|
Rare
Coins
|
Auctions
|
Corporate
and Other
|
Consolidated
|
|||||||||||||||
Revenues
|
||||||||||||||||||||||
2007
|
$
|
4,097
|
$
|
1,105
|
$
|
5,740
|
$
|
4,908
|
$
|
711
|
$
|
295
|
$
|
16,856
|
||||||||
2006
|
3,325
|
1,472
|
3,526
|
1,141
|
—
|
85
|
9,549
|
|||||||||||||||
|
||||||||||||||||||||||
Net
earnings (loss)
|
||||||||||||||||||||||
2007
|
232
|
27
|
63
|
4
|
17
|
(59
|
)
|
284
|
||||||||||||||
2006
|
18
|
56
|
31
|
38
|
—
|
(35
|
)
|
108
|
||||||||||||||
Identifiable
assets
|
||||||||||||||||||||||
2007
|
12,004
|
1,067
|
355
|
3,339
|
1,814
|
983
|
19,562
|
|||||||||||||||
2006
|
9,102
|
1,150
|
300
|
266
|
—
|
741
|
11,559
|
|||||||||||||||
Goodwill
|
||||||||||||||||||||||
2007
|
—
|
837
|
—
|
—
|
—
|
12,374
|
13,211
|
|||||||||||||||
2006
|
—
|
837
|
—
|
—
|
—
|
—
|
837
|
|||||||||||||||
Capital
Expenditures
|
||||||||||||||||||||||
2007
|
13
|
—
|
—
|
—
|
—
|
3
|
16
|
|||||||||||||||
2006
|
13
|
—
|
—
|
—
|
—
|
—
|
13
|
|||||||||||||||
Depreciation
and amortization
|
||||||||||||||||||||||
2007
|
38
|
—
|
13
|
13
|
13
|
19
|
96
|
|||||||||||||||
2006
|
19
|
—
|
—
|
—
|
—
|
1
|
20
|
Shares
|
Stock
Price
|
Extended
Price
|
||||||||
Common
stock
|
3,669,067
|
$
|
2.55
|
$
|
9,356,121
|
|||||
A
warrants
|
845,634
|
1.27(1
|
)
|
1,073,955
|
||||||
B
warrants
|
863,000
|
2.55
|
2,220,650
|
|||||||
Exercise
Price B warrants
|
863,000
|
$
|
0.001
|
(863
|
)
|
|||||
Direct
transaction costs
|
965,062
|
|||||||||
Total
purchase price
|
$
|
13,594,925
|
|
|
|||
Goodwill
|
$
|
12,374,035
|
||
Property
and other assets
|
1,068,958
|
|||
Inventory
|
3,260,766
|
|||
Liabilities
assumed
|
(3,108,834
|
)
|
||
Total
purchase price
|
$
|
13,594,925
|
Three
Months Ended September 30,
|
Nine
Months Ended September 30,
|
||||||||||||
(In
thousands, except per share data)
|
2007
|
2006
|
2007
|
2006
|
|||||||||
(Unaudited)
|
(Unaudited)
|
||||||||||||
Pro
forma total revenue
|
$
|
16,856
|
$
|
18,109
|
$
|
50,142
|
$
|
65,313
|
|||||
Pro
forma net earnings (loss)
|
284
|
(830
|
)
|
(2,932
|
)
|
(1,678
|
)
|
||||||
Pro
forma net earnings per share — basic
|
$
|
0.03
|
$
|
(0.13
|
)
|
$
|
(0.45
|
)
|
$
|
(0.27
|
)
|
||
Pro
forma net earnings per share — diluted
|
$
|
0.03
|
$
|
(0.13
|
)
|
$
|
(0.45
|
)
|
$
|
(0.27
|
)
|
||
Pro
forma weighted average shares — basic
|
8,582
|
9,889
|
6,544
|
9,889
|
|||||||||
Pro
forma weighted average shares — diluted
|
10,393
|
9,962
|
7,396
|
9,960
|
· |
uncertainties
regarding price fluctuations in the price of gold and other precious
metals;
|
· |
our
ability to manage inventory fluctuations and
sales;
|
· |
changes
in governmental rules and regulations applicable to the specialty
financial services industry;
|
· |
the
results of any unfavorable litigation;
|
· |
interest
rates;
|
· |
economic
pressures affecting the disposable income available to
our
customers;
|
· |
our
ability to maintain an effective system of internal
controls;
|
· |
our
ability to assimilate the operations of our recent
acquisitions;
|
· |
the
other risks detailed from time to time in our SEC
reports.
|
Proposal
|
For
|
Against
|
Abstain
|
|||
Election
of the following directors to our board of directors:
|
||||||
Dr.
L.S. Smith, Ph.D
|
5,803,479
|
—
|
1,300
|
|||
William
H. Oyster
|
5,803,479
|
—
|
1,300
|
|||
Dr.
William P. Cordeiro, Ph.D.
|
5,803,479
|
—
|
1,300
|
|||
Craig
Alan-Lee
|
5,803,479
|
—
|
1,300
|
|||
Richard
M. Gozia
|
5,803,479
|
—
|
1,300
|
|||
David
Rector
|
5,803,479
|
—
|
1,300
|
|||
To
ratify the selection of BKR Cornwell Jackson as our independent registered
public account firm for our fiscal year ending December 31,
2007
|
5,769,944
|
34,835
|
—
|
Exhibit No.
|
Description
|
Filed Herein
|
Incorporated by
Reference
|
Form
|
Date
Filed
with
SEC
|
Exhibit No.
|
|||||||
2.1
|
Amended
and Restated Agreement and Plan of Merger and Reorganization, dated
as of
January 6, 2007
|
×
|
8-K
|
January
9, 2007
|
2.1
|
||||||||
2.2
|
Limited
Joinder Agreement, dated as of January 6, 2007
|
×
|
8-K
|
January
9, 2007
|
2.9
|
||||||||
3.1
|
Articles
of Incorporation dated September 17, 1965
|
×
|
8-A12G
|
June
23, 1999
|
3.1
|
||||||||
3.2
|
Certificate
of Amendment to Articles of Incorporation, dated October 14,
1981
|
×
|
8-A12G
|
June
23, 1999
|
3.2
|
||||||||
3.3
|
Certificate
of Resolution, dated October 14, 1981
|
×
|
8-A12G
|
June
23, 1999
|
3.3
|
3.4
|
Certificate
of Amendment to Articles of Incorporation , dated July 15,
1986
|
×
|
8-A12G
|
June
23, 1999
|
3.4
|
||||||||
3.5
|
Certificate
of Amendment to Articles of Incorporation, dated August 23,
1998
|
×
|
8-A12G
|
June
23, 1999
|
3.5
|
||||||||
3.6
|
Certificate
of Amendment to Articles of Incorporation, dated June 26,
1992
|
×
|
8-A12G
|
June
23, 1999
|
3.6
|
||||||||
3.7
|
Certificate
of Amendment to Articles of Incorporation, dated June 26,
2001
|
×
|
8-K
|
July
3, 2001
|
1.0
|
||||||||
3.8
|
Certificate
of Amendment to Articles of Incorporation, dated May 22,
2007
|
x
|
8-K
|
May
31, 2007
|
3.1
|
||||||||
3.9
|
By-laws,
dated March 2, 1992
|
×
|
8-A12G
|
June
23, 1999
|
3.7
|
||||||||
4.1
|
Specimen
Common Stock Certificate
|
×
|
S-4
|
January
6, 2007
|
4.1
|
||||||||
10.1
|
Renewal,
Extension And Modification Agreement dated January 28, 1994, by
and among
DGSE Corporation and Michael E. Hall And Marian E. Hall
|
×
|
10-KSB
|
March
1995
|
10.2
|
||||||||
10.2
|
Lease
Agreement dated June 2, 2000 by and between SND Properties and
Charleston
Gold and Diamond Exchange, Inc.
|
×
|
10-KSB
|
March
29, 2001
|
10.1
|
||||||||
10.3
|
Lease
agreement dated October 5, 2004 by and between Beltline Denton
Road
Associates and Dallas Gold & Silver Exchange
|
×
|
10-K
|
April
15, 2005
|
10.2
|
||||||||
10.4
|
Lease
agreement dated December 1, 2004 by and between Stone Lewis Properties
and
Dallas Gold & Silver Exchange
|
×
|
10-K
|
April
15, 2005
|
10.3
|
||||||||
10.5
|
Lease
agreement dated November 18, 2004 by and between Hinkle Income
Properties
LLC and American Pay Day Centers, Inc.
|
×
|
10-K
|
April
15, 2005
|
10.4
|
10.6
|
Lease
Agreement dated January 17, 2005 by and between Belle-Hall Development
Phase III Limited Partnership and DGSE Companies, Inc.
|
×
|
S-4
|
January
6, 2007
|
10.6
|
||||||||
10.7
|
Loan
Agreement, dated as of December 22, 2005, between DGSE Companies,
Inc. and
Texas Capital Bank, N.A.
|
×
|
8-K/A
|
August
17, 2006
|
10.1
|
||||||||
10.8
|
Third
Amendment to Loan Agreement, dated as of May 10, 2007, by and between
DGSE
Companies, Inc. and Texas Capital Bank, N.A.
|
×
|
8-K
|
May
9, 2007
|
3.0
|
||||||||
10.9
|
Support
Agreement, DGSE stockholders, dated as of January 6, 2007
|
×
|
8-K
|
January
9, 2007
|
99.1
|
||||||||
10.10
|
Securities
Exchange Agreement, dated as of January 6, 2007
|
×
|
8-K
|
January
9, 2007
|
99.2
|
||||||||
10.11
|
Warrant
to DiGenova, issued January 6, 2007
|
×
|
8-K
|
January
9, 2007
|
99.3
|
||||||||
10.12
|
Support
Agreement, Superior stockholders, dated as of January 6,
2007
|
×
|
8-K
|
January
9, 2007
|
99.5
|
||||||||
10.13
|
Asset
purchase agreement, dated May 9, 2007, by and between DGSE Companies,
Inc.
and Euless Gold & Silver, Inc.
|
×
|
8-K
|
May
9, 2007
|
1.0
|
||||||||
10.14
|
Subordinated
Promissory Note dated May 9, 2007
|
×
|
8-K
|
May
9, 2007
|
2.0
|
||||||||
10.15
|
Registration
Rights Agreement with Stanford International Bank Ltd., dated as
of May
30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.1
|
||||||||
10.16
|
Corporate
Governance Agreement with Dr. L.S. Smith and Stanford International
Bank
Ltd., dated as of May 30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.2
|
10.17
|
Escrow
Agreement with American Stock Transfer & Trust Company and Stanford
International Bank Ltd., as stockholder agent, dated as of May
30,
2007
|
×
|
8-K
|
May
31, 2007
|
99.3
|
||||||||
10.18
|
Form
of Warrants
|
×
|
8-K
|
May
31, 2007
|
99.4
|
||||||||
10.19
|
Amended
and Restated Commercial Loan and Security Agreement, by and between
Superior Galleries Inc. and Stanford International Bank Ltd., dated
as of
May 30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.5
|
||||||||
10.20
|
Employment
Agreement with L.S. Smith, dated as of May 30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.6
|
||||||||
10.21
|
Employment
Agreement with William H. Oyster, dated as of May 30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.7
|
||||||||
10.22
|
Employment
Agreement with John Benson, dated as of May 30, 2007
|
×
|
8-K
|
May
31, 2007
|
99.8
|
||||||||
31.1
|
Certification
pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934
implementing Section 302 of the Sarbanes-Oxley Act of 2002 by Dr.
L.S.
Smith
|
×
|
|||||||||||
31.2
|
Certification
pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934
implementing Section 302 of the Sarbanes-Oxley Act of 2002 by John
Benson
|
×
|
|||||||||||
32.1
|
Certification
pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002 by Dr. L.S. Smith
|
×
|
|||||||||||
32.2
|
Certification
pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002 by John Benson
|
×
|
DGSE Companies, Inc. | ||||
By: | /s/ L. S. Smith | Dated: November 14, 2007 | ||
L. S. Smith
Chairman of the Board,
Chief Executive Officer and
Secretary
|
By: | /s/ L. S. Smith | Dated: November 14, 2007 | ||
L. S. Smith
Chairman of the Board,
Chief Executive Officer and
Secretary
|
By: | /s/ W. H. Oyster | Dated: November 14, 2007 | ||
W. H. Oyster
Director, President and
Chief Operating Officer
|
By: | /s/ John Benson | Dated: November 14, 2007 | ||
John Benson
Chief Financial Officer
(Principal Accounting Officer)
|