Marygold Companies, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Marygold Companies, Inc. filed its Q2 2024 10-Q, detailing financial performance and balance sheet information for the quarter ending December 31, 2023.</b>

AI Summary

Marygold Companies, Inc. (MGLD) filed a Quarterly Report (10-Q) with the SEC on February 14, 2024. The Marygold Companies, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the quarterly period from October 1, 2023, to December 31, 2023. It also includes comparative data for the prior year's quarter (October 1, 2022, to December 31, 2022). The report details financial information for various segments including Fund Management, Food Products, Beauty Products, Security Systems, and Financial Services. Key balance sheet items such as Preferred Stock, Common Stock, Additional Paid-In Capital, Accumulated Other Comprehensive Income, and Retained Earnings are presented as of various dates in 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Marygold Companies, Inc., this filing contains several important signals. This filing provides investors with an updated view of the company's financial health and operational performance across its diverse business segments. The inclusion of comparative data allows for an analysis of trends and year-over-year changes in revenue and financial position.

Risk Assessment

Risk Level: low — Marygold Companies, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures or events that would indicate high risk.

Analyst Insight

Review the detailed segment performance and balance sheet changes to understand the company's financial trajectory and identify any emerging trends.

Key Numbers

• 2023-12-31 — Reporting Period End Date (10-Q filing)
• 2024-02-14 — Filing Date (10-Q filing)
• 2023-06-30 — Fiscal Year End (Company fiscal year)
• 2023-09-30 — Quarter End Date (Balance sheet data reference)
• 2022-06-30 — Prior Year Quarter End (Balance sheet data reference)
• 2022-09-30 — Prior Year Quarter End (Balance sheet data reference)

Key Players & Entities

• Marygold Companies, Inc. (company) — Filer name
• MGLD (company) — Ticker symbol
• 2023-12-31 (date) — Reporting period end date
• 2024-02-14 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• CONCIERGE TECHNOLOGIES INC (company) — Former company name
• STARFEST INC (company) — Former company name

FAQ

Key Dates

• 2023-12-31: Quarterly Period End — Financial data reported in the 10-Q pertains to this date.
• 2024-02-14: Filing Date — The date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share MGLD NYSE , American LLC

Filing Documents

• form10-q.htm (10-Q) — 1037KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• 0001493152-24-006611.txt (&nbsp;) — 5642KB
• mgld-20231231.xsd (EX-101.SCH) — 46KB
• mgld-20231231_cal.xml (EX-101.CAL) — 64KB
• mgld-20231231_def.xml (EX-101.DEF) — 150KB
• mgld-20231231_lab.xml (EX-101.LAB) — 369KB
• mgld-20231231_pre.xml (EX-101.PRE) — 269KB
• form10-q_htm.xml (XML) — 971KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive (Loss) Income 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION 28

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 3 1

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 3 1

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 31

Signatures

Signatures 32 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "would," "shall," "might," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: the outcome of the class action litigation; recent resolutions with the Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC") against United States Oil Fund, L.P., United States Commodity Funds, LLC, a subsidiary of our subsidiary, USCF Investments, Inc. ("USCF Investments") (f/k/a Wainwright Holdings), and other related parties, as disclosed under "Item 1. Legal Proceedings"; our future financial performance, including our revenue, cost of revenue, gross profit, gross margin, operating expenses, ability to generate positive cash flow, and ability to achieve and maintain profitability; the sufficiency of our cash and cash equivalents to meet our working capital, capital expenditure, and liquidity needs; our operating subsidiaries' ability to attract and retain customers to use our products, to optimize the pricing for our products, to expand our sales to our customers, and to convince our existing customers to renew subscriptions; the evolution of technologies affecting our operating subsidiar

financial statements, once adopted

financial statements, once adopted. NOTE 3. BASIC AND DILUTED NET EARNINGS PER SHARE Basic net income per share is based upon the weighted average number of common shares outstanding. This calculation includes the weighted average number of Series B Convertible Preferred shares outstanding also, as they are deemed to be substantially similar to the common shares and shareholders are entitled to the same liquidation and dividend rights. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. For the three and six-months ended December 31, 2023, the Company excluded 1,357,941 common stock equivalents from the diluted earnings per share calculation as their effect would be anti-dilutive. For the three and six months ended December 31, 2022, the Company excluded 409,537 and 132,500 common stock equivalents, respectively, from the diluted earnings per share calculation as their effect would be anti-dilutive. Basic and diluted net income per share reflects the effects of shares potentially issuable upon conversion of convertible preferred stock. The components of basic and diluted earnings per share were as follows (in thousands, except per share data): SCHEDULE OF EARNINGS PER SHARE, BASIC AND DILUTED Three Months Ended December 31, 2023 Net Loss Shares Per Share Basic net loss per share: Net loss available to common shareholders $ ( 1,154 ) 39,410 $ ( 0.03 ) Net loss available to preferred shareholders ( 29 ) 987 $ ( 0.03 ) Basic net loss per share $ ( 1,183 ) 40,397 $ ( 0.03 ) Diluted net loss per share: Net loss available to common sharehol

View Full Filing

View this 10-Q filing on SEC EDGAR