Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 68

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 any of these matters could materially adversely affect the Company’s financial
condition, results of operations and cash flows.

Retirement
Plan

The
Company has a 401(k) Profit Sharing Plan (“401K Plan”) covering U.S. employees. Participants may make contributions pursuant
to a salary reduction agreement. In addition, the 401K Plan makes a safe harbor matching contribution. The Company’s matching contributions
were less than $0.1 million for each of the three months ended March 31, 2025 and 2024 and less than $0.2 million for each of the nine
months ended March 31, 2025 and 2024.

NOTE
11. RELATED PARTY TRANSACTIONS

USCF
Investments – Related Party Transactions

The
funds managed by USCF LLC and USCF Advisers are considered related parties for financial accounting purposes. The Company’s
fund management revenue, totaling $4.1
million and $4.4
million for the three months ended March 31, 2025 and 2024, respectively, and $13.4
million and $14.5
million for the nine months ended March 31, 2025 and 2024, respectively, were earned from these related parties. Accounts
receivable, totaling $1.3
million and $1.5
million as of March 31, 2025 and June 30, 2024, respectively, were owed from the funds that may be deemed related parties. USCF
Investments, from time to time, provides initial seed capital investments in connection with the organization of ETP and ETF funds
that USCF LLC manages. As of March 31, 2025 and June 30, 2024, the Company held a total of $6.5 million and $7.5
million, respectively, in funds managed by USCF Advisers which are included in investments on the consolidated balance sheets. The
Company owns 38% and 45%
of the outstanding shares of or other interest in these funds as of March 31, 2025 and June 30, 2024, respectively. Included in
interest and dividend income on the consolidated statements of operations are $0.1
million for both the three months ended March 31, 2025 and 2024, respectively, and $1.1 million and $0.2
million for the nine months ended March 31, 2025 and