Envela Corp — Director's Dealing 2013

Jan 4, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DGSE COMPANIES INC (DGSE)
CIK: 0000701719
Period of Report: 2013-01-02

Reporting Person: NTR METALS, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-02	Common Stock	J	4393142	—	Disposed	644500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-02	Call Option (right to buy)	$15	S	5000000	Disposed	2016-10-25	Common Stock (5000000)	Direct

Footnotes

F1: On January 2, 2013, the Reporting Person entered into a Contribution Agreement with Elemetal, LLC ("Elemetal"), under which the Reporting Person agreed to transfer to Elemetal 4,393,142 Common Shares owned by the Reporting Person and an Option Grant Agreement, dated as of October 25, 2011, whereby the Issuer granted the Reporting Person options to purchase 5,000,000 Common Shares at an exercise price of $15.00 per share. In exchange, Elemetal agreed to assign and transfer to the Reporting Person Class A Common Units of Elemetal. The parties valued the transferred Common Shares at $5.22 per share, based on a volume discount to the closing price of the Common Shares on December 31, 2012.

F2: Figures in Column 5 exclude the 1,628,014 shares beneficially owned through a proxy for which the Reporting Person does not have a pecuniary interest. Figures in Column 5 also exclude derivative securities reported in Table II.