ELA Envela

Envela Corp. buys and sells all kinds of jewelries including diamonds, fine watches, rare coins and currency, precious metal bullion products, scrap gold, silver, platinum, palladium, collectibles, and other valuables. The firm operates through the following segments: DGSE and ECHG. It offers its products through retail and wholesale stores, and e-commerce sites. The company was founded on September 16, 1965 and is headquartered in Dallas, TX.

Company profile

John R. Loftus
Fiscal year end
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26 Mar 21
17 Apr 21
31 Dec 21
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Financial data from Envela earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Dec 20 Pedersen Bret Allen Common Stock Sell Dispose S No No 4.25 3,600 15.3K 47,493
13 Nov 20 Pedersen Bret Allen Common stock Buy Aquire P No No 4.26 56 238.56 51,093
13 Nov 20 Pedersen Bret Allen Common stock Buy Aquire P No No 4.21 188 791.48 51,037
30 Oct 20 Pedersen Bret Allen Common Stock Buy Aquire P Yes No 4.25 115 488.75 50,849
30 Oct 20 Pedersen Bret Allen Common Stock Buy Aquire P No No 4.27 200 854 50,734
2 Oct 20 Pedersen Bret Allen Common Stock Buy Aquire P Yes No 4.07 128 520.96 50,534
2 Oct 20 Pedersen Bret Allen Common Stock Buy Aquire P No No 4.06 123 499.38 50,406
11 Sep 20 DeStefano Allison M Common Stock Other Aquire J No No 0 100,000 0 129,055

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

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Financial report summary

  • The voting power in our company is substantially controlled by a small number of stockholders, which may, among other things, delay or frustrate the removal of incumbent directors or a takeover attempt, even if such events may be beneficial to our stockholders.
  • In fiscal year 2014, we came to an agreed settlement with the SEC, stemming from an investigation of accounting irregularities. As part of this settlement we agreed to a series of corporate governance reforms, which were independently verified in fiscal year 2015. If we do not comply with the corporate governance reforms, we could face additional enforcement actions by the SEC or other governmental or regulatory bodies, as well as additional shareholder lawsuits, all of which could have significant negative financial or operational implications.
  • In the past, our internal controls over financial reporting and procedures related thereto have been deficient. Although we have taken significant remedial measures, our previous deficiencies could have a material adverse effect on our business and on our investors’ confidence in our reported financial information, and there is no guarantee that our internal controls over financial reporting and procedures will not fail in the future.
  • The market for precious metals is inherently unpredictable.
  • Adverse economic conditions in the U.S. or in other key markets, and the resulting declines in consumer confidence and spending, could have a material adverse effect on our operating results.
  • The coronavirus pandemic continues to be serious threat to health and economic wellbeing affecting our business, customers and supply chain.
  • We face intense competition across all markets for our products and services, which may lead to lower revenue or operating margins.
  • Our DGSE wholesale and jewelry business is seasonal, with sales traditionally greater during certain holiday seasons, so events and circumstances that adversely affect holiday consumer spending will have a disproportionately adverse effect on our operational results.
  • If we misjudge the demand for our products, high inventory levels could adversely affect future operating results and profitability.
  • Changes in our liquidity and capital requirements and our ability to secure financing and credit could materially adversely affect our financial condition and results of operations.
  • Interest-rate fluctuations could increase our interest expense.
  • A failure in our information systems could prevent us from effectively managing and controlling our business or serving our customers.
  • Our success depends on our ability to attract, retain and motivate qualified directors, management and other skilled employees.
  • We have not paid dividends on our Common Stock in the past and do not anticipate paying dividends on our Common Stock in the foreseeable future.
  • We are subject to new and existing corporate-governance and internal-control reporting requirements, and our costs related to compliance with, or our failure to comply with, existing and future requirements could adversely affect our business.
  • Our websites may be vulnerable to security breaches and similar threats, which could result in our liability for damages and harm to our reputation.
  • Fluctuations in the availability and pricing of commodities, particularly gold, which accounts for the majority of our merchandise costs, could adversely impact our earnings and cash availability.
  • The conflict-mineral diligence process, the results from that process and the related reporting obligations could increase costs, adversely affect our reputation and adversely affect our ability to obtain merchandise.
  • Our customer and vendor concentration in one significant entity could have an adverse impact on our business.
Management Discussion
  • Revenue. Revenue related to DGSE’s continuing operations increased by $18,141,237, or 27%, during fiscal 2020, to $85,661,391, as compared to $67,520,154 during Fiscal 2019. Resale revenue, such as bullion, jewelry, watches and rare coins, increased by $19,702,014 in Fiscal 2020, or 33%, to $79,790,419 as compared to $60,088,405 during Fiscal 2019. Recycled-material sales decreased 21% to $5,870,972 for Fiscal 2020, as compared to $7,431,749 for Fiscal 2019. Revenue increased for resale items for Fiscal 2020, compared to Fiscal 2019 primarily due to the apparent increase in consumer demand following the lifting of governmental orders to refrain from selling non-essential items in our retail stores due to the COVID-19 pandemic and the related spiking of gold prices due to the pandemic. The decrease in recycled-materials revenue is primarily due to the spike in resale revenue stemming from the COVID-19 pandemic, as we purchased inventory for Fiscal 2020, more inventory was kept for our retail stores as compared to Fiscal 2019, and recycled less.
Content analysis
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