Collectors Universe (CLCT) 10-Q 31 Oct 19 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document Information [Line Items]
Entity Registrant Name	COLLECTORS UNIVERSE INC
Entity Central Index Key	0001089143
Trading Symbol	clct
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		9,231,143
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock $.001 Par Value

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2019	Jun. 30, 2019
ASSETS
Cash and cash equivalents	$ 21,300,000	$ 19,225,000
Accounts receivable, net of allowance of $80 and $72 at September 30, and June 30, 2019, respectively	2,694,000	2,408,000
Inventories, net	2,119,000	1,965,000
Prepaid expenses and other current assets	1,414,000	1,400,000
Total current assets	27,527,000	24,998,000
Property and equipment, net	7,025,000	7,259,000
Operating lease right-of-use assets	9,423,000
Goodwill	2,083,000	2,083,000
Intangible assets, net	2,343,000	2,329,000
Deferred income tax assets	561,000	561,000
Other assets	458,000	463,000
Total assets	49,420,000	37,693,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	3,294,000	2,540,000
Accrued liabilities	1,861,000	1,873,000
Accrued compensation and benefits	3,015,000	4,095,000
Current portion of long-term debt	750,000	750,000
Current operating lease liabilities	2,264,000
Income taxes payable	1,288,000	608,000
Deferred revenue	3,412,000	3,428,000
Total current liabilities	15,884,000	13,294,000
Long Term Debt	1,500,000	1,688,000
Operating lease liabilities, non-current	10,782,000
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; 9,231 and 9,153 issued and outstanding at September 30, and June 30, 2019, respectively.	9,000	9,000
Additional paid-in capital	87,607,000	87,343,000
Accumulated deficit	(66,362,000)	(68,405,000)
Total stockholders’ equity	21,254,000	18,947,000
Total liabilities and stockholders’ equity	$ 49,420,000	$ 37,693,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands	Sep. 30, 2019	Jun. 30, 2019
Accounts receivable, allowance	$ 80,000	$ 72,000
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)	9,231	9,153
Common stock, shares outstanding (in shares)	9,231	9,153

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Net revenues	$ 20,210	$ 17,495
Cost of revenues	8,101	7,202
Gross profit	12,109	10,293
Operating expenses:
Selling and marketing expenses	2,633	2,808
General and administrative expenses	4,839	4,658
Total operating expenses	7,472	7,466
Operating income	4,637	2,827
Interest income and other expense, net	71	3
Income before provision for income taxes	4,708	2,830
Provision for income taxes	1,095	699
Net Income	$ 3,613	$ 2,131
Net income per share:
Basic (in dollars per share)	$ 0.40	$ 0.24
Diluted (in dollars per share)	$ 0.40	$ 0.24
Weighted average shares outstanding:
Basic (in shares)	8,973	8,933
Diluted (in shares)	9,060	8,962
Dividends declared per common share (in dollars per share)	$ 0.175	$ 0.175

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2018	9,015
Balance at Jun. 30, 2018	$ 9	$ 86,369	$ (72,110)	$ 14,268
Stock-based compensation – restricted stock (in shares)	45
Stock-based compensation – restricted stock		263		263
Net income			2,131	2,131
Dividends paid			(1,564)	(1,564)
Balance (in shares) at Sep. 30, 2018	9,060
Balance at Sep. 30, 2018	$ 9	86,632	(71,543)	15,098
Stock-based compensation – restricted stock (in shares)	61
Stock-based compensation – restricted stock		205		205
Net income			1,481	1,481
Dividends paid			(1,566)	(1,566)
Balance (in shares) at Dec. 31, 2018	9,121
Balance at Dec. 31, 2018	$ 9	86,837	(71,628)	15,218
Stock-based compensation – restricted stock (in shares)	27
Stock-based compensation – restricted stock		252		252
Net income			3,559	3,559
Dividends paid			(1,565)	(1,565)
Balance (in shares) at Mar. 31, 2019	9,148
Balance at Mar. 31, 2019	$ 9	87,089	(69,634)	17,464
Stock-based compensation – restricted stock (in shares)	5
Stock-based compensation – restricted stock		254		254
Net income			2,806	2,806
Dividends paid			(1,577)	(1,577)
Balance (in shares) at Jun. 30, 2019	9,153
Balance at Jun. 30, 2019	$ 9	87,343	(68,405)	18,947
Stock-based compensation – restricted stock (in shares)	78
Stock-based compensation – restricted stock		264		264
Net income			3,613	3,613
Dividends paid			(1,570)	(1,570)
Balance (in shares) at Sep. 30, 2019	9,231
Balance at Sep. 30, 2019	$ 9	$ 87,607	$ (66,362)	$ 21,254

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,613,000	$ 2,131,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization expense	710,000	742,000
Stock-based compensation expense	264,000	263,000
Non-cash lease expense	(141,000)
Provision (recovery) for bad debts	8,000	(6,000)
Provision for inventory write-down	2,000	4,000
Provision for warranty	41,000	112,000
Change in operating assets and liabilities:
Accounts receivable	(294,000)	277,000
Inventories	(156,000)	64,000
Prepaid expenses and other	(13,000)	418,000
Other assets	6,000	14,000
Accounts payable and accrued liabilities	713,000	(126,000)
Accrued compensation and benefits	(1,081,000)	(731,000)
Income taxes payable	680,000	693,000
Deferred revenue	(16,000)	(215,000)
Deferred rent		250,000
Net cash provided by operating activities	4,336,000	3,890,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(211,000)	(297,000)
Capitalized software	(279,000)	(194,000)
Net cash used in investing activities	(490,000)	(491,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments under Term Loan	(188,000)
Dividends paid to common stockholders	(1,583,000)	(1,786,000)
Net cash used in financing activities	(1,771,000)	(1,786,000)
Net increase in cash and cash equivalents	2,075,000	1,613,000
Cash and cash equivalents at beginning of period	19,225,000	10,581,000
Cash and cash equivalents at end of period	21,300,000	12,194,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	35,000	37,000
Income taxes paid during the period	$ 376,000	$ 6,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. SUMMARY OF Significant Accounting Policies Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At September 30, 2019, 100% Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Stockholders’ Equity and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”). Operating results for the three September 30, 2019 not may June 30, 2020 10 June 30, 2019, 2019 10 June 30, 2019 Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Leases Effective July 1, 2019 842 Accounting for Leases September 30, 2019, not 12 not no Note 9 -Leases Revenue Recognition The core principle of ASC 606, R evenue from C ontracts with Customers 606, five five 1 2 3 4 5 Our primary source of revenue is the authentication and grading of collectibles, which represented about 90% three September 30, 2019. 5% 606 Authentication and Grading Revenues: Warranty C osts Collectors Club Revenues: 606 Certified Coin Exchanges Subscription Revenues: Expos Trade Show Revenue: Advertising and Commission Revenues: 30 third Coin Sales: not Contract Balances. three September 30, 2019, $1,748,000 $3,428,000 June 30, 2019. Shipping and Handling Costs Shipping and handling costs incurred to process and return customer collectibles submitted to us for grading or authentication are recorded as costs of revenues, net of amounts received from customers, in accordance with the guidance for Principals versus Agents as set out in ASC 606. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves and the provision or benefit for income taxes and related valuation allowances. 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 may not no September 30, 2019. During the first September 30, 2019, 2006 not Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong, Japan and China subsidiaries. Based on this determination, the Company’s foreign operations are re-measured by reflecting the financial results of such operations as if they had taken place within a U.S. dollar-based economic environment. Fixed assets and other non-monetary assets and liabilities are re-measured from foreign currencies to U.S. dollars at historical exchange rates; whereas cash, accounts receivable and other monetary assets and liabilities are re-measured at current exchange rates. Gains and losses resulting from those re-measurements, which are included in income for the current period, were not Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards: 20 20 and 201 9 Long Term Incentive Plan s (“LTIP s ”) Retention Restricted Service Shares 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 25,952 44,763 2020 2019, three If a Participant's continuous service with the Company ceases, for any reason whatsoever, including a termination of the Participant’s employment with or without cause, prior to any vesting date or dates, the then unvested RSUs will be forfeited. Fiscal 20 20 and 2019 Performance Restricted Shares (“ PSUs ”) To create incentives for the LTIP Participants to focus their efforts on the achievement of increases in net cash flows (defined as net cash generated by the Company’s operating activities, minus capital expenditures and capitalized software costs), during the three June 30, 2021 2022, 2020 2019, 51,905 89,542 20% 2000 2020 2019. For any of the PSUs to vest, a Participant must remain in the continuous service of the Company through June 30, 2021 2019 June 30, 2022 2020 one three $77,000 three September 30, 2019 no three September 30, 2018. Total stock-based compensation expense for all unvested RSUs and PSUs in the three September 30, 2019 $264,000 $263,000 three September 30, 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. September 30, 2019, $21,300,000, $16,827,000 $4,473,000 $1,707,000 September 30, 2019 $927,000 Substantially all of our cash in the United States is deposited at one $18,732,000 September 30, 2019. Revolving Credit Line. January 2017 three $10,000,000 may may one may not $10,000,000. may no may 30 2.25% 0.25% 0.0625% $4,000,000. no September 30, 2019 June 30, 2019. September 30, 2019. Term Loan . September 15, 2017 five $3,500,000 October 2018, $3,000,000 48 $62,500, $750,000 September 2022. no The term loan agreement contains two may not September 30, 2019 June 30, 2019. At September 30, 2019, $2,250,000 $750,000 $1,500,000 September 30, 2019. Accounts Receivable. 10% September 30, 2019 June 30, 2019. may $80,000 $72,000 September 30, 2019 June 30, 2019, no Coin and Cards / Autograph Revenues 94% three September 30, 2019, 93% three September 30, 2018. Customers. five 12% three September 30, 2019 11% Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or net realizable value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first first Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize those costs on a straight-line basis over the estimated useful life of the software of three three September 30, 2019 $279,000 $194,000 three September 30, 2018. three September 30, 2019, $229,000 $237,000 three September 30, 2018. Warranty Costs We provide a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not not not three September 30, 2019 $41,000 $112,000 three September 30, 2018. Dividends In accordance with the Company’s current dividend policy, we paid quarterly cash dividends of $0.175 first 2020 2019. may Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 2016 13, 326 not 326 December 15, 2022, December 15, 2018. 326 not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 not December 15, 2022. not

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following (in thousands): September 30 , June 30, 201 9 201 9 Coins $ 185 $ 173 Grading raw materials consumable inventory 3,213 3,070 3,398 3,243 Less inventory reserve (1,279 ) (1,278 ) Inventories, net $ 2,119 $ 1,965 The inventory reserve represents a valuation allowance on certain items of our coins inventory based on the current market value of those coins and for our consumables inventories, based upon our review of the expected future usage of that inventory. Estimated market value of coins can be subjective and can vary depending on market conditions for precious metals, the number of qualified buyers for a particular coin and the uniqueness and special features of a particular coin.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): September 30, June 30, 201 9 201 9 Coins grading reference sets $ 68 $ 68 Computer hardware and equipment 2,390 2,325 Computer software 1,606 1,606 Equipment 5,197 5,131 Furniture and office equipment 991 944 Leasehold improvements 4,749 4,741 Trading card reference library 52 52 15,053 14,867 Less accumulated depreciation and amortization (8,028 ) (7,608 ) Property and equipment, net $ 7,025 $ 7,259

Note 4 - Accrued Liabilities

Note 4 - Accrued Liabilities	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): September 30 , June 30, 201 9 201 9 Warranty reserves $ 764 $ 852 Professional fees 152 141 Other 945 880 $ 1,861 $ 1,873 The following table presents the changes in the Company’s warranty reserve during the three September 30, 2019 2018 Three Months Ended September 30 , 201 9 201 8 Warranty reserve beginning of period $ 852 $ 862 Provision charged to cost of revenues 41 112 Payments (129 ) (30 ) Warranty reserve, end of period $ 764 $ 944

Note 5 - Income Taxes

Note 5 - Income Taxes	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	5. INCOME TAXES The income tax provisions in the three September 30, 2019 2018, 23% 25%, three

Note 6 - Net Income Per Share

Note 6 - Net Income Per Share	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	6. NET INCOME PER SHARE The following table presents the changes in the Company’s weighted average shares outstanding for the three September 30, 2019 2018 Three Months Ended September 30, 201 9 201 8 Weighted average shares outstanding: Basic 8,973 8,933 Dilutive effect of restricted shares 87 29 Weighted average shares outstanding: Diluted 9,060 8,962 A total of 5,000 31,000 three September 30, 2019 2018, three September 30, 2019, 52,000 not

Note 7 - Business Segments

Note 7 - Business Segments	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7. BUSINESS SEGMENTS Operating segments are defined as the components or “segments” of an enterprise for which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker, or decision-making group, in deciding how to allocate resources to and in assessing performance of those components or “segments”. The Company’s chief operating decision-maker is its Chief Executive Officer. The Company’s operating segments are organized based on the respective services that they offer to customers. Similar operating segments have been aggregated to reportable operating segments based on having similar services, types of customers, and other criteria. We operate principally in three We allocate certain operating expenses to each service segment based upon each segment’s estimated expense usage. The following tables set forth on a segment basis, including a reconciliation with the condensed consolidated financial statements, (i) revenues, (ii) depreciation and amortization, (iii) stock-based compensation expense, and (iv) operating income for the three September 30, 2019 2018, September 30, 2019 June 30, 2019, Three Months Ended September 30, 20 1 9 20 1 8 Net revenues: Coins ( i ) $ 10,982 $ 10,121 Trading cards / autographs 8,094 6,100 Other 1,134 1,274 Consolidated total revenue $ 20,210 $ 17,495 Depreciation and amortization: Coins $ 364 $ 324 Trading cards / autographs 151 141 Other 92 148 Total 607 613 Unallocated depreciation and amortization 103 129 Consolidated depreciation and amortization $ 710 $ 742 Stock-based compensation: Coins $ 51 $ 65 Trading cards / autographs 17 4 Other 8 7 Total 76 76 Unallocated stock-based compensation 188 187 Consolidated stock-based compensation $ 264 $ 263 Operating income: Coins $ 3,753 $ 2,329 Trading cards / autographs 2,255 1,563 Other 308 343 Total 6,316 4,235 Unallocated operating expenses (1,679 ) (1,408 ) Consolidated operating income $ 4,637 $ 2,827 (i) Includes service revenues of $2.4 three September 30, 2019 $1.7 three September 30, 2018. September 30 , June 30, 201 9 201 9 Identifiable Assets: Coins $ 11,978 $ 9,398 Trading cards / autographs 3,890 3,753 Other 2,433 2,468 Total 18,301 15,619 Unallocated assets 31,119 22,074 Consolidated assets $ 49,420 $ 37,693 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 8 - Contingencies

Note 8 - Contingencies	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Contingencies Disclosure [Text Block]	8. CONTINGENCIES The Company is named from time to time, as a defendant in lawsuits and disputes that arise in the ordinary course of business. We establish accruals for lawsuits or disputes when it is determined that a loss is both probable and can be reasonably estimated. Accruals can be adjusted from time to time, in light of additional information. We believe that none

Note 9 - Leases

Note 9 - Leases	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	9. LEASES The Company has operating leases for office facilities and certain equipment. Our leases have remaining terms of 1 9 not not Operating lease right-of-use assets and liabilities are measured using the present value of future minimum lease payments over the lease term. We applied our incremental borrowing rate based on the information available at the adoption date. Information related to the Company’s total lease costs were as follows (in thousands): Three Months Ended September 30, 2019 Operating lease cost $ 536 Variable lease cost 111 Total lease cost $ 647 Information related to the Company’s ROU assets and related lease liabilities were as follows (in thousands): Three Months Ended September 30, 2019 Cash paid for operating lease liabilities $ 596 Weighted-average remaining lease term (in years) 7.8 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 September 30, 2019 ( 2020 (remaining 9 months) $ 1,728 2021 2,340 2022 2,000 2023 1,653 2024 1,475 Thereafter 6,539 Total undiscounted future minimum lease payments 15,735 Less: Imputed interest (2,689 ) Total operating lease liabilities $ 13,046 Current operating lease liabilities $ 2,264 Long-term operating lease liabilities 10,782 Total operating lease liabilities $ 13,046 As of September 30, 2019, not not

Note 10 - Subsequent Events

Note 10 - Subsequent Events	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS On October 22, 2019 second $0.175 November 29, 2019 November 15, 2019

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At September 30, 2019, 100%
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Stockholders’ Equity and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”). Operating results for the three September 30, 2019 not may June 30, 2020 10 June 30, 2019, 2019 10 June 30, 2019
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation.
Lessee, Leases [Policy Text Block]	Leases Effective July 1, 2019 842 Accounting for Leases September 30, 2019, not 12 not no Note 9 -Leases
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The core principle of ASC 606, R evenue from C ontracts with Customers 606, five five 1 2 3 4 5 Our primary source of revenue is the authentication and grading of collectibles, which represented about 90% three September 30, 2019. 5% 606 Authentication and Grading Revenues: Warranty C osts Collectors Club Revenues: 606 Certified Coin Exchanges Subscription Revenues: Expos Trade Show Revenue: Advertising and Commission Revenues: 30 third Coin Sales: not Contract Balances. three September 30, 2019, $1,748,000 $3,428,000 June 30, 2019.
Cost of Goods and Services Sold, Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs incurred to process and return customer collectibles submitted to us for grading or authentication are recorded as costs of revenues, net of amounts received from customers, in accordance with the guidance for Principals versus Agents as set out in ASC 606.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves and the provision or benefit for income taxes and related valuation allowances.
Goodwill and Intangible Assets, Policy [Policy Text Block]	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 may not no September 30, 2019. During the first September 30, 2019, 2006 not
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong, Japan and China subsidiaries. Based on this determination, the Company’s foreign operations are re-measured by reflecting the financial results of such operations as if they had taken place within a U.S. dollar-based economic environment. Fixed assets and other non-monetary assets and liabilities are re-measured from foreign currencies to U.S. dollars at historical exchange rates; whereas cash, accounts receivable and other monetary assets and liabilities are re-measured at current exchange rates. Gains and losses resulting from those re-measurements, which are included in income for the current period, were not
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards: 20 20 and 201 9 Long Term Incentive Plan s (“LTIP s ”) Retention Restricted Service Shares 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 25,952 44,763 2020 2019, three If a Participant's continuous service with the Company ceases, for any reason whatsoever, including a termination of the Participant’s employment with or without cause, prior to any vesting date or dates, the then unvested RSUs will be forfeited. Fiscal 20 20 and 2019 Performance Restricted Shares (“ PSUs ”) To create incentives for the LTIP Participants to focus their efforts on the achievement of increases in net cash flows (defined as net cash generated by the Company’s operating activities, minus capital expenditures and capitalized software costs), during the three June 30, 2021 2022, 2020 2019, 51,905 89,542 20% 2000 2020 2019. For any of the PSUs to vest, a Participant must remain in the continuous service of the Company through June 30, 2021 2019 June 30, 2022 2020 one three $77,000 three September 30, 2019 no three September 30, 2018. Total stock-based compensation expense for all unvested RSUs and PSUs in the three September 30, 2019 $264,000 $263,000 three September 30, 2018.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	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. September 30, 2019, $21,300,000, $16,827,000 $4,473,000 $1,707,000 September 30, 2019 $927,000 Substantially all of our cash in the United States is deposited at one $18,732,000 September 30, 2019. Revolving Credit Line. January 2017 three $10,000,000 may may one may not $10,000,000. may no may 30 2.25% 0.25% 0.0625% $4,000,000. no September 30, 2019 June 30, 2019. September 30, 2019. Term Loan . September 15, 2017 five $3,500,000 October 2018, $3,000,000 48 $62,500, $750,000 September 2022. no The term loan agreement contains two may not September 30, 2019 June 30, 2019. At September 30, 2019, $2,250,000 $750,000 $1,500,000 September 30, 2019. Accounts Receivable. 10% September 30, 2019 June 30, 2019. may $80,000 $72,000 September 30, 2019 June 30, 2019, no Coin and Cards / Autograph Revenues 94% three September 30, 2019, 93% three September 30, 2018. Customers. five 12% three September 30, 2019 11%
Inventory, Policy [Policy Text Block]	Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or net realizable value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first first
Research, Development, and Computer Software, Policy [Policy Text Block]	Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize those costs on a straight-line basis over the estimated useful life of the software of three three September 30, 2019 $279,000 $194,000 three September 30, 2018. three September 30, 2019, $229,000 $237,000 three September 30, 2018.
Standard Product Warranty, Policy [Policy Text Block]	Warranty Costs We provide a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not not not three September 30, 2019 $41,000 $112,000 three September 30, 2018.
Stockholders' Equity, Policy [Policy Text Block]	Dividends In accordance with the Company’s current dividend policy, we paid quarterly cash dividends of $0.175 first 2020 2019. may
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 2016 13, 326 not 326 December 15, 2022, December 15, 2018. 326 not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 not December 15, 2022. not

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30 , June 30, 201 9 201 9 Coins $ 185 $ 173 Grading raw materials consumable inventory 3,213 3,070 3,398 3,243 Less inventory reserve (1,279 ) (1,278 ) Inventories, net $ 2,119 $ 1,965

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, June 30, 201 9 201 9 Coins grading reference sets $ 68 $ 68 Computer hardware and equipment 2,390 2,325 Computer software 1,606 1,606 Equipment 5,197 5,131 Furniture and office equipment 991 944 Leasehold improvements 4,749 4,741 Trading card reference library 52 52 15,053 14,867 Less accumulated depreciation and amortization (8,028 ) (7,608 ) Property and equipment, net $ 7,025 $ 7,259

Note 4 - Accrued Liabilities (T

Note 4 - Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30 , June 30, 201 9 201 9 Warranty reserves $ 764 $ 852 Professional fees 152 141 Other 945 880 $ 1,861 $ 1,873
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30 , 201 9 201 8 Warranty reserve beginning of period $ 852 $ 862 Provision charged to cost of revenues 41 112 Payments (129 ) (30 ) Warranty reserve, end of period $ 764 $ 944

Note 6 - Net Income Per Share (

Note 6 - Net Income Per Share (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, 201 9 201 8 Weighted average shares outstanding: Basic 8,973 8,933 Dilutive effect of restricted shares 87 29 Weighted average shares outstanding: Diluted 9,060 8,962

Note 7 - Business Segments (Tab

Note 7 - Business Segments (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 20 1 9 20 1 8 Net revenues: Coins ( i ) $ 10,982 $ 10,121 Trading cards / autographs 8,094 6,100 Other 1,134 1,274 Consolidated total revenue $ 20,210 $ 17,495 Depreciation and amortization: Coins $ 364 $ 324 Trading cards / autographs 151 141 Other 92 148 Total 607 613 Unallocated depreciation and amortization 103 129 Consolidated depreciation and amortization $ 710 $ 742 Stock-based compensation: Coins $ 51 $ 65 Trading cards / autographs 17 4 Other 8 7 Total 76 76 Unallocated stock-based compensation 188 187 Consolidated stock-based compensation $ 264 $ 263 Operating income: Coins $ 3,753 $ 2,329 Trading cards / autographs 2,255 1,563 Other 308 343 Total 6,316 4,235 Unallocated operating expenses (1,679 ) (1,408 ) Consolidated operating income $ 4,637 $ 2,827
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30 , June 30, 201 9 201 9 Identifiable Assets: Coins $ 11,978 $ 9,398 Trading cards / autographs 3,890 3,753 Other 2,433 2,468 Total 18,301 15,619 Unallocated assets 31,119 22,074 Consolidated assets $ 49,420 $ 37,693 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended September 30, 2019 Operating lease cost $ 536 Variable lease cost 111 Total lease cost $ 647
Lessee, Operating Lease Liabilities [Table Text Block]	Three Months Ended September 30, 2019 Cash paid for operating lease liabilities $ 596 Weighted-average remaining lease term (in years) 7.8 Weighted-average discount rate 4.8 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2020 (remaining 9 months) $ 1,728 2021 2,340 2022 2,000 2023 1,653 2024 1,475 Thereafter 6,539 Total undiscounted future minimum lease payments 15,735 Less: Imputed interest (2,689 ) Total operating lease liabilities $ 13,046 Current operating lease liabilities $ 2,264 Long-term operating lease liabilities 10,782 Total operating lease liabilities $ 13,046

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual)	Oct. 31, 2018USD ($)	Sep. 15, 2017USD ($)	Oct. 31, 2018USD ($)	Jan. 31, 2017USD ($)	Sep. 30, 2019USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2020shares	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)
Contract with Customer, Liability, Total					$ 1,748,000			$ 3,428,000
Goodwill and Intangible Asset Impairment, Total					0
Share-based Payment Arrangement, Expense					264,000	$ 263,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance					21,300,000	12,194,000		19,225,000	$ 10,581,000
Money Market Funds, at Carrying Value					16,827,000
Other Cash Equivalents, at Carrying Value					4,473,000
Cash, Ending Balance					1,707,000
Cash, Uninsured Amount					18,732,000
Long-term Debt, Excluding Current Maturities, Total					1,500,000			1,688,000
Accounts Receivable, Allowance for Credit Loss, Current					80,000			72,000
Capitalized Computer Software, Additions					279,000	194,000
Capitalized Computer Software, Amortization					229,000	237,000
Product Warranty Expense					$ 41,000	$ 112,000
Common Stock, Dividends, Per Share, Cash Paid | $ / shares					$ 0.175	$ 0.175
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage					10.00%
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers					5
Revenue, Product and Service Benchmark [Member] | Customer Concentration Risk [Member] | Five Customers [Member]
Concentration Risk, Percentage					12.00%	11.00%
Unsecured Debt [Member] | CB&T [Member]
Debt Instrument, Term		5 years
Debt Agreement, Maximum Borrowing Capacity		$ 3,500,000
Long-term Debt, Total		$ 3,000,000			$ 2,250,000
Debt Instrument, Number of Payments	48		48
Debt Instrument, Periodic Payment, Principal	$ 62,500
Debt Instrument, Periodic Payment, Principal, Annual Basis			$ 750,000
Other Long-term Debt, Current					750,000
Revolving Credit Facility [Member] | California Bank and Trust [Member]
Debt Instrument, Term				3 years
Line of Credit Facility, Maximum Borrowing Capacity				$ 10,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.0625%
Line of Credit Facility, Average Outstanding Amount				$ 4,000,000
Long-term Line of Credit, Total					0			$ 0
Revolving Credit Facility [Member] | California Bank and Trust [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate				2.25%
Revolving Credit Facility [Member] | California Bank and Trust [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				0.25%
CHINA
Cash, Ending Balance					$ 927,000
Retention Shares, Annual Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares							25,952	44,763
Finite-Lived Intangible Asset, Useful Life					3 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares								89,542
Share-based Payment Arrangement, Expense					$ 77,000	$ 0
Performance Shares [Member] | Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares							51,905
Authentication and Grading Services [Member]
Revenue from Contract with Customer, Percentage								90.00%	90.00%
Coins [Member] | Revenue from Contract with Customer Benchmark [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage					94.00%	93.00%

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Inventory, gross	$ 3,398	$ 3,243
Less inventory reserve	(1,279)	(1,278)
Inventories, net	2,119	1,965
Coins [Member]
Inventory, gross	185	173
Grading Raw Materials Consumable [Member]
Inventory, gross	$ 3,213	$ 3,070

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Coins grading reference sets	$ 15,053	$ 14,867
Less accumulated depreciation and amortization	(8,028)	(7,608)
Property and equipment, net	7,025	7,259
Coins Grading Reference Sets [Member]
Coins grading reference sets	68	68
Computer Equipment [Member]
Coins grading reference sets	2,390	2,325
Computer Software [Member]
Coins grading reference sets	1,606	1,606
Equipment [Member]
Coins grading reference sets	5,197	5,131
Furniture and Office Equipment [Member]
Coins grading reference sets	991	944
Leasehold Improvements [Member]
Coins grading reference sets	4,749	4,741
Trading Card Reference Library [Member]
Coins grading reference sets	$ 52	$ 52

Note 4 - Accrued Liabilities -

Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Warranty reserves	$ 764	$ 852
Professional fees	152	141
Other	945	880
	$ 1,861	$ 1,873

Note 4 - Accrued Liabilities _2

Note 4 - Accrued Liabilities - Warranty Reserve Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Warranty reserve beginning of period	$ 852	$ 862
Provision charged to cost of revenues	41	112
Payments	(129)	(30)
Warranty reserve, end of period	$ 764	$ 944

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	23.00%	25.00%

Note 6 - Net Income Per Share_2

Note 6 - Net Income Per Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,000	31,000
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	52,000

Note 6 - Net Income Per Share -

Note 6 - Net Income Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Basic (in shares)	8,973	8,933
Diluted (in shares)	9,060	8,962
Restricted Stock [Member]
Dilutive effect of restricted shares (in shares)	87	29

Note 7 - Business Segments (Det

Note 7 - Business Segments (Details Textual) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Number of Reportable Segments	3
Revenue from Contract with Customer, Including Assessed Tax	$ 20,210	$ 17,495
Non-US [Member] | Coins [Member] | Service [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 2,400	$ 1,700

Note 7 - Business Segments - Se

Note 7 - Business Segments - Segment Reporting Information (Details) - USD ($)		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Net revenues		$ 20,210,000	$ 17,495,000
Depreciation and amortization		710,000	742,000
Stock-based compensation		264,000	263,000
Operating income		4,637,000	2,827,000
Operating Segments [Member]
Depreciation and amortization		607,000	613,000
Stock-based compensation		76,000	76,000
Operating income		6,316,000	4,235,000
Segment Reconciling Items [Member]
Depreciation and amortization		103,000	129,000
Stock-based compensation		188,000	187,000
Operating income		(1,679,000)	(1,408,000)
Coins [Member] | Operating Segments [Member]
Net revenues	[1]	10,982,000	10,121,000
Depreciation and amortization		364,000	324,000
Stock-based compensation		51,000	65,000
Operating income		3,753,000	2,329,000
Trading Cards and Autographs [Member] | Operating Segments [Member]
Net revenues		8,094,000	6,100,000
Depreciation and amortization		151,000	141,000
Stock-based compensation		17,000	4,000
Operating income		2,255,000	1,563,000
Other Segments [Member] | Operating Segments [Member]
Net revenues		1,134,000	1,274,000
Depreciation and amortization		92,000	148,000
Stock-based compensation		8,000	7,000
Operating income		$ 308,000	$ 343,000
[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.

Note 7 - Business Segments - Re

Note 7 - Business Segments - Reconciliation of Assets to Consolidated From Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Assets	$ 49,420	$ 37,693
Goodwill	2,083	2,083
Operating Segments [Member]
Assets	18,301	15,619
Operating Segments [Member] | Coins [Member]
Assets	11,978	9,398
Goodwill	515	515
Operating Segments [Member] | Trading Cards and Autographs [Member]
Assets	3,890	3,753
Operating Segments [Member] | Other Segments [Member]
Assets	2,433	2,468
Goodwill	1,568	1,568
Segment Reconciling Items [Member]
Assets	$ 31,119	$ 22,074

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)	3 Months Ended
	Sep. 30, 2019
Minimum [Member]
Lessee Operating Lease Remaining Lease Term	1 year
Maximum [Member]
Lessee Operating Lease Remaining Lease Term	9 years

Note 9 - Leases - Lease Costs (

Note 9 - Leases - Lease Costs (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Operating lease cost	$ 536
Variable lease cost	111
Total lease cost	$ 647

Note 9 - Leases - Lease Liabili

Note 9 - Leases - Lease Liabilities (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for operating lease liabilities	$ 596
Weighted-average remaining lease term (in years) (Year)	7 years 292 days
Weighted-average discount rate	4.80%

Note 9 - Leases - Future Minimu

Note 9 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
2020 (remaining 9 months)	$ 1,728
2021	2,340
2022	2,000
2023	1,653
2024	1,475
Thereafter	6,539
Total undiscounted future minimum lease payments	15,735
Less: Imputed interest	(2,689)
Total operating lease liabilities	13,046
Current operating lease liabilities	2,264
Long-term operating lease liabilities	10,782
Total operating lease liabilities	$ 13,046

Note 10 - Subsequent Events (De

Note 10 - Subsequent Events (Details Textual) - $ / shares	Oct. 22, 2019	Sep. 30, 2019	Sep. 30, 2018
Common Stock, Dividends, Per Share, Declared		$ 0.175	$ 0.175
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.175
Dividends Payable, Date Declared	Oct. 22, 2019
Dividends Payable, Date to be Paid	Nov. 29, 2019
Dividends Payable, Date of Record	Nov. 15, 2019