Company: MGLD
Filing Date: 2025-09-23
Form Type: DEF 14A
Source: 0001493152-25-014569
Chunk: 21

Company: Marygold Companies, Inc.
Filing Date: 2025-09-23
Form: DEF 14A
Chunk 21
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-Russia oil price war. The complaints seek, on behalf of USO, compensatory damages, restitution, equitable relief, attorney’s fees, and costs. The plaintiffs in the Cantrell and AML Actions have marked their actions as related to the Lucas Class Action.

The Court consolidated the Cantrell and AML Actions under the caption In re United States Oil Fund, LP Derivative Litigation, Civil Action No. 1:20-cv-06974 and appointed co-lead counsel. All proceedings in In re United States Oil Fund, LP Derivative Litigationare stayed pending disposition of the motion(s) to dismiss in In re: United States Oil Fund, LP Securities Litigation.

USCF LLC, USO, and the other defendants intend to vigorously contest the claims in In re United States Oil Fund, LP Derivative Litigation.

Controlled Company Status

Nicholas Gerber and Scott Schoenberger, through their respective trusts, currently represent approximately 54.3% of the voting power of our shares with respect to matters that may have a material impact on our strategy and shareholder rights. Because more than 50% of the combined voting power of all of our shares of voting stock is beneficially owned by Messrs. Gerber and Schoenberger, we are a “controlled company” as defined in section 801(a) of the NYSE American Company Guide. As such, we are exempt from certain NYSE American rules requiring our Board of Directors to have a majority of independent members, a compensation committee composed entirely of independent directors and a nominating committee composed entirely of independent directors.

None of the directors holds any directorships in any company with a class of securities registered under the Securities Exchange Act or subject to the reporting requirements of section 13(a) or 15(d) of the Securities Exchange Act or any company registered as an investment company under the Investment Company Act of 1940 other than the following: Nicholas Gerber, our CEO and Chairman of our Board of Directors, was a director of USCF until April 2023. USCF is a commodity pool operator and general partner or sponsor of eight commodity based exchange traded funds that are registered under Section 12 of the Securities Exchange Act, and Mr. Gerber was also a director of USCF ETF Trust, a registered investment company under the Investment Company Act of 1940, as amended, which currently has eight (8) exchange traded funds and are advised by USCF Advisers LLC, a registered investment adviser.

Code of Ethics

We have adopted