Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 57

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 57
---
 fiscal years and thereafter are as follows (in thousands):

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE 

    Years Ending
    June 30, 
    Expense 
  
    2025 (remainder of the fiscal year) 
    $75 
  
    2026 
     290 
  
    2027 
     147 
  
    2028 
     147 
  
    2029 
     147 
  
    Thereafter 
     325 
  
    Total 
    $1,131 

    14

NOTE
8. NOTES PAYABLE

On
September 19, 2024, we entered into a note purchase agreement the (“Purchase Agreement”) with Streeterville Capital, LLC
(“Holder”), pursuant to which we agreed to issue and sell to Holder a secured promissory note in an initial principal amount
of $4,380,000 (“Initial Note”) payable on or before 24 months from the issuance date (“Maturity Date”) and, upon
the satisfaction of certain conditions in the Purchase Agreement, up to one additional secured promissory note (“Subsequent Note,”
Initial Note and Subsequent Note, “Notes”). The initial principal amount of the Notes includes an original issue discount
of 9% and expenses that the Company agreed to pay to the Holder to cover the Holder’s transaction costs. The original issue discount
of the Initial Note was $360,000. Interest on the principal amount of the Notes accrues at a rate of 9% per annum. The Company may pay
all or any portion of the amount owed under the Notes earlier than it is due. All payments made under the Notes, including any repayments,
are subject to an additional payment amount equal to 6% of the portion of the outstanding balance being repaid. The Subsequent Note would
have a principal amount of $2,180,000, which will have terms substantially similar to the terms of the Initial Note. The original issue
discount of the Subsequent Note, if issued, would be $180,000.

The
Purchase Agreement contains certain covenants and agreements, including that we will not pledge or grant any lien or security interest
in our or our subsidiaries’ assets without the Holder’s prior written consent and that we will file reports under the Securities
Exchange Act timely, and that our shares will continue to be listed or quoted on the NYSE American or Nasdaq.