U.S. Global Investors Files 2024 10-K

TL;DR

USGI 2024 10-K out: $28M assets, $13.8M liabs, $2.1M net income. EPS $0.025.

AI Summary

U.S. Global Investors Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting total assets of $28,000,000 and total liabilities of $13,866,999. The company's net income for the period was $2,113,516, with earnings per share of $0.025. This filing provides a comprehensive overview of the company's financial performance and position.

Why It Matters

This 10-K filing provides investors with a detailed look at U.S. Global Investors Inc.'s financial health and operational performance for the fiscal year ended June 30, 2024.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• $28.0B — Total Assets (As of June 30, 2024)
• $13.9B — Total Liabilities (As of June 30, 2024)
• $2.1M — Net Income (For the fiscal year ended June 30, 2024)
• $0.025 — Earnings Per Share (For the fiscal year ended June 30, 2024)

Key Players & Entities

• U. S. GLOBAL INVESTORS INC (company) — Filer
• 20240630 (date) — Fiscal Year End
• $28,000,000 (dollar_amount) — Total Assets
• $13,866,999 (dollar_amount) — Total Liabilities
• $2,113,516 (dollar_amount) — Net Income
• 0.025 (dollar_amount) — Earnings Per Share

FAQ

Key Financial Figures

• $0.025 — ich registered Class A common stock, $0.025 par value per share GROW NASDAQ Capi
• $997 — mon stock in a private transaction) was $997. For purposes of this disclosure only,

Filing Documents

• usglobal20240630_10k.htm (10-K) — 1982KB
• ex_683686.htm (EX-21) — 3KB
• ex_683687.htm (EX-23.1) — 3KB
• ex_683689.htm (EX-31.1) — 22KB
• ex_683690.htm (EX-32.1) — 8KB
• ex_717738.htm (EX-97) — 24KB
• logo.jpg (GRAPHIC) — 6KB
• 0001437749-24-028889.txt ( ) — 10339KB
• grow-20240630.xsd (EX-101.SCH) — 82KB
• grow-20240630_cal.xml (EX-101.CAL) — 72KB
• grow-20240630_def.xml (EX-101.DEF) — 605KB
• grow-20240630_lab.xml (EX-101.LAB) — 501KB
• grow-20240630_pre.xml (EX-101.PRE) — 657KB
• usglobal20240630_10k_htm.xml (XML) — 1750KB

of Annual Report on Form 10-K

Part I of Annual Report on Form 10-K 1

Business

Item 1. Business 1

Risk Factors

Item 1A. Risk Factors 5

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 10

Cybersecurity

Item 1C. Cybersecurity

Properties

Item 2. Properties 10

Legal Proceedings

Item 3. Legal Proceedings 10

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 10

of Annual Report on Form 10-K

Part II of Annual Report on Form 10-K 11

Market for Registrant ' s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 11

[Reserved]

Item 6. [Reserved] 12

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 12

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 19

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 21 Report of Independent Registered Public Accounting Firm (Grant Thornton LLP; Dallas, Texas; PCAOB ID# 248) 21

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 47

Controls and Procedures

Item 9A. Controls and Procedures 47

Other Information

Item 9B. Other Information 49

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 49

of Annual Report on Form 10-K

Part III of Annual Report on Form 10-K 50

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 50

Executive Compensation

Item 11. Executive Compensation 51

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 56

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 56

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 57

of Annual Report on Form 10-K

Part IV of Annual Report on Form 10-K 58

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 58

Signatures

Signatures 60 Exhibit 21 — Subsidiaries of the Company, Jurisdiction of Incorporation, and Percentage of Ownership Exhibit 23.1 — Consent of Grant Thornton LLP Exhibit 31.1 — Rule 13a – 14(a) Certifications (under Section 302 of the Sarbanes-Oxley Act of 2002) Exhibit 32.1 — Section 1350 Certifications (under Section 906 of the Sarbanes-Oxley Act of 2002) Table of Contents

of Annual Report on Form 10-K

Part I of Annual Report on Form 10-K

Business

Item 1. Business This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, U.S. Global Investors, Inc. and its subsidiaries (collectively, "U.S. Global" or the "Company") may make other written and oral communications from time to time that contain such statements. Forward-looking statements include statements as to industry trends, future expectations of the Company, and other matters that do not relate strictly to historical facts and are based on certain assumptions by management. These statements are often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "should," "estimate," or "continue," and similar expressions or variations. These statements are based on the beliefs and assumptions of Company management based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in Part I, Item 1A, Risk Factors, and elsewhere in this report and other documents filed or furnished by U.S. Global from time to time with the U.S. Securities and Exchange Commission ("SEC"). U.S. Global cautions readers to carefully consider such factors. Furthermore, such forward-looking statements speak only as of the date on which such statements are made. Except to the extent required by applicable law, U.S. Global undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. U.S. Global, a Texas corporation organized in 1968, is a registered investment adviser under the Investment Advisers Act of 1940, as

Risk Factors

Item 1A. Risk Factors The Company faces a variety of significant and diverse risks, many of which are inherent in the business. Described below are certain risks that could materially affect the Company. Other risks and uncertainties that the Company does not presently consider to be material, or of which the Company is not presently aware, may become important factors that affect it in the future. The occurrence of any of the risks discussed below could materially and adversely affect the business, prospects, financial condition, results of operations, or cash flow. Risk Factors Related to Our Industry The investment management business is intensely competitive. Competition in the investment management business is based on a variety of factors, including: Investment performance; Investor perception of an investment team's drive, focus, and alignment of interest with them; Quality of service provided to, and duration of relationships with, clients and shareholders; Business reputation; and Level of fees charged for services. The Company competes with a large number of investment management firms, commercial banks, broker-dealers, insurance companies, and other financial institutions. Competitive risk is heightened by the fact that some competitors may invest according to different investment styles or in alternative asset classes which the markets may perceive as more attractive than the Company's investment approach. If the Company is unable to compete effectively, revenues and earnings may be reduced, and the business could be materially affected. Failure to comply with government regulations could result in fines, which could cause the Company ' s earnings and stock price to decline. The Company is subject to a variety of foreign and domestic federal securities laws and agencies, including, but not limited to, the Advisers Act, the Investment Company Act, the S-Ox Act, the Gramm-Leach-Bliley Act of 1999, the Bank Secrecy Act of 1970, as amended,

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View this 10-K filing on SEC EDGAR