Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 20

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 Company builds out its Fintech application, it enters into agreements with various service providers. As of March 31, 2025, Marygold
has future payment commitments with its primary service vendors totaling $0.4 million, including $0.3 million due during the remainder
of fiscal 2025 and $0.1 million due in fiscal 2026.

Litigation

From
time to time, the Company and its subsidiaries may be involved in legal proceedings arising in the ordinary course of their respective
businesses. Except as described below, there are no material pending legal proceedings against the Company or its subsidiaries. USCF
LLC is an indirect wholly owned subsidiary of the Company. USCF LLC, as the general partner of the United States Oil Fund, LP (“USO”)
and the general partner and sponsor of the related public funds may, from time to time, be involved in litigation arising out of its
operations in the ordinary course of business. Except as described herein, USO and USCF LLC are not currently party to any material legal
proceedings.

In
re: United States Oil Fund, LP Securities Litigation

On
June 19, 2020, USCF LLC, USO, John P. Love, and Stuart P. Crumbaugh, were named as defendants in a putative class action filed by purported
shareholder Robert Lucas (the “Lucas Class Action”). The Court thereafter consolidated the Lucas Class Action with two related
putative class actions filed on July 31, 2020 and August 13, 2020, and appointed a lead plaintiff. The consolidated class action is pending
in the U.S. District Court for the Southern District of New York under the caption In re: United States Oil Fund, LP Securities Litigation,
Civil Action No. 1:20-cv-04740.

    17

On
November 30, 2020, the lead plaintiff filed an amended complaint (the “Amended Lucas Class Complaint”). The Amended Lucas
Class Complaint asserts claims under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934 as amended (“Securities
Exchange Act”), and Rule 10b-5 under the Securities Exchange Act. The Amended Lucas Class Complaint challenges statements in registration
statements that became effective on February 25, 2020 and March 23, 2020 as well as subsequent public statements through April 2020 concerning
certain extraordinary market