<SEC-DOCUMENT>0001144204-12-012453.txt : 20120302
<SEC-HEADER>0001144204-12-012453.hdr.sgml : 20120302
<ACCEPTANCE-DATETIME>20120301183000
ACCESSION NUMBER:		0001144204-12-012453
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110415
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120302
DATE AS OF CHANGE:		20120301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DGSE COMPANIES INC
		CENTRAL INDEX KEY:			0000701719
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-JEWELRY STORES [5944]
		IRS NUMBER:				880097334
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11048
		FILM NUMBER:		12659510

	BUSINESS ADDRESS:	
		STREET 1:		2817 FOREST LANE
		STREET 2:		STE 202
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		9724843662

	MAIL ADDRESS:	
		STREET 1:		2817 FOREST LN
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DALLAS GOLD & SILVER EXCHANGE INC /NV/
		DATE OF NAME CHANGE:	19930114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN PACIFIC MINT INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CANYON STATE CORP
		DATE OF NAME CHANGE:	19860819
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<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>v304527_8ka.htm
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT STYLE="font-size: 10pt">WASHINGTON, D.C. 20549<BR>
</FONT><U>&#9;</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">FORM 8-K/A<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><B>(Date of Earliest
Event Reported): </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>March 1, 2012 (April 15, 2011)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>DGSE
COMPANIES, INC.<BR>
</B></FONT><FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified in Charter)<BR>
</FONT><B><U>&#9;</U></B></P>

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    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">1-11048</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">88-0097334</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification No.)</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 67%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">11311 Reeder Rd., Dallas, Texas</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">75229</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(972) 484-3662</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Registrant&rsquo;s Telephone Number,
Including Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This Form 8-K/A amends and restates the Form 8-K originally filed
on February 17, 2012. It has been updated to incorporate information required by paragraphs (1) and (3) of Item 4.02(a) of Form
8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 4.02. Non-Reliance on Previously Issued Financial Statements
or a Related Audit Report or Completed Interim Review.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On April 15, 2011, DGSE Companies, Inc. (the &ldquo;Company&rdquo;)
filed its 2010 Annual Report on Form 10-K (the &ldquo;2010 Form 10-K&rdquo;), which disclosed the description and amount of certain
adjustments made to restate the quarterly financial statements reflected in the Company&rsquo;s Quarterly Reports on Form 10-Q
for the periods ending June 30, 2010 and September 30, 2010, respectively.&nbsp; In the 2010 Form 10-K, the Company adjusted inventory,
customer deposits and accounts payable to accurately reflect these balances as of June 30, 2010 and September 30, 2010 (collectively,
the &ldquo;Accounting Adjustments&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Investors should rely upon the definitive audited 2010 Financial
Statements in the 2010 Form 10-K and the unaudited quarterly financial statements reflected in the Company&rsquo;s Quarterly Reports
on Form 10-Q for the periods ending June 30, 2011 and September 30, 2011, respectively. Investors should no longer rely upon the
unaudited quarterly financial statements reflected in the Company&rsquo;s Quarterly Reports on Form 10-Q for the period ending
June 30, 2010 and September 30, 2010, respectively.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: black">The Company converted to a new accounting
system during the three month period ended June 30, 2010. The introduction of this new accounting system caused certain process
and reporting errors which were discovered by the Company in late March 2011, resulting in the need for the Accounting Adjustments
reflected in the 2010 Form 10-K.&nbsp;&nbsp;Specifically, during the second quarter the Company increased customer deposits and
accounts payable by approximately $1.9 million and $1.7 million, respectively, to accurately reflect the respective liabilities
based on the accurate sub-ledger details and account reconciliations. Furthermore, the Company adjusted inventory by approximately
$3.7 million in order to reflect certain</FONT> valuation, book to physical and other reconciling adjustments. <FONT STYLE="color: black">The
tax benefit of the aforementioned adjustments was approximately $1.8 million. In the 2010 Form 10-K, the Company also adjusted
reported balances as of June 30, 2010 as they were reflected in the Company&rsquo;s Quarterly Report on Form 10-Q for the period
ending September 30, 2010 to reflect the Accounting Adjustments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On April 14, 2011, the board of directors of the Company, upon the
recommendation of management after consulting with its independent auditors, concluded that the Company&rsquo;s financial statements
for the quarters ended June 30, 2010 and September 30, 2010 should no longer be relied upon. Prior to filing our 2010 Form 10-K,
the errors, Accounting Adjustments and disclosures to be included in the filing of the 2010 Form 10-K were discussed by and between
our audit committee, authorized officers and our independent accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(d) Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">None</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">DGSE COMPANIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date:&nbsp; March 1, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:<U> /s/ William H. Oyster</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William H. Oyster</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chairman &amp; Chief Executive Officer</TD></TR>
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