Marygold Companies, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Marygold Companies, Inc. (MGLD) filed its Q3 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

Marygold Companies, Inc. (MGLD) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. The Marygold Companies, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on June 30. The filing covers the third quarter of the fiscal year. The company was formerly known as Concierge Technologies Inc. and Starfest Inc. The company is incorporated in Nevada.

Why It Matters

For investors and stakeholders tracking Marygold Companies, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Marygold Companies' financial health and operational status for the third quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's performance, identifying potential risks, and making informed investment decisions regarding MGLD.

Risk Assessment

Risk Level: — Marygold Companies, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate red flags, indicating a low level of immediate risk from the filing itself.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue drivers and cost structures for MGLD.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-13 — Filing Date (Date the report was filed)
• 0630 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Marygold Companies, Inc. (company) — Filer name
• MGLD (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-13 (date) — Filing date
• Concierge Technologies Inc. (company) — Former company name
• Starfest Inc. (company) — Former company name
• Nevada (jurisdiction) — State of incorporation

FAQ

Industry Context

Marygold Companies operates within the finance services sector, specifically SIC code 6199.

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the financial statements for the three months ended March 31, 2024, and compare them to prior periods.
2. Review any disclosures related to former company names and their impact.
3. Note the company's fiscal year end of June 30 for future reporting context.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for Marygold Companies, Inc. for the fiscal year 2024, providing an initial baseline for comparison.

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) — 1104KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-018895.txt (&nbsp;) — 6028KB
• mgld-20240331.xsd (EX-101.SCH) — 45KB
• mgld-20240331_cal.xml (EX-101.CAL) — 65KB
• mgld-20240331_def.xml (EX-101.DEF) — 152KB
• mgld-20240331_lab.xml (EX-101.LAB) — 366KB
• mgld-20240331_pre.xml (EX-101.PRE) — 272KB
• form10-q_htm.xml (XML) — 1097KB

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 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION 27

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 27

Signatures

Signatures 28 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Report") 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 Report include, but are not limited to, statements about: the outcome of certain class action litigation as disclosed under "Note 11- Commitments and Contingencies"; 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 or services, to optimize the pricing for our products or services, to expand sales to our customers, and to convince our existing customers to renew subscriptions; the evolution of technologies affecting our operating subsidiaries' products, services and markets; our operating subsidiaries' ability to innovate and provide a superior user experience and our intentions and strategy with respect thereto; our operating subsidiaries' ability to successfully penetrate enterprise markets; our operating subsidiaries' ability to successfully

forward-looking statements made in this Report relate only to events as of the date on which the statements are

forward-looking statements made in this Report relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Report to reflect events or circumstances after the date of this Report or to reflect new information or the occurrence of unanticipated events, except as required by law. We and our subsidiaries may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make. 3 PART I – FINANCIAL INFORMATION Item 1. Financial Statements. THE MARYGOLD COMPANIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) March 31, 2024 June 30, 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 4,490 $ 8,161 Accounts receivable, net (of which $ 1,490 and $ 1,674 , respectively, due from related parties) 2,489 3,026 Inventories 2,113 2,254 Prepaid income tax and tax receivable 1,955 992 Investments, at fair value 11,630 11,481 Other current assets 3,094 904 Total current assets 25,771 26,818 Restricted cash 14 425 Property and equipment, net 1,195 1,255 Operating lease right-of-use assets 1,095 821 Goodwill 2,307 2,307 Intangible assets, net 2,003 2,330 Deferred tax assets, net 771 771 Other assets 553 554 Total assets $ 33,709 $ 35,281 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 3,566 $ 2,771 Operating lease liabilities, current portion 635 457 Purchase consideration payable - 605 Loans - property and equipment, current portion 340 359 Total current liabilities 4,541 4,192 Loans - property and equipment, net of current

View Full Filing

View this 10-Q filing on SEC EDGAR