Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 7

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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     29%
  
    Total
    $1,302  
     100% 
    $1,455  
    100%

There
are no significant concentrations for the other operating subsidiaries on a consolidated basis.

    10

Recently
Issued Accounting Pronouncements

In
November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.
2023-07, Improvements to Reportable Segment Disclosures (Topic 280). The guidance expands the disclosures required for reportable segments
in our annual and interim consolidated financial statements, primarily through enhanced disclosures about significant segment expenses.
The standard will be effective for us beginning with our annual reporting for fiscal year 2025 and interim periods thereafter, with early
adoption permitted. Upon adoption, this standard should be applied retrospectively to all prior periods presented. We will adopt the
standard when it becomes effective in our fiscal year 2025 annual reporting. The Company does not anticipate any impact other than changes
to disclosures in the segment reporting from the adoption date onwards.

In
December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The guidance requires disclosure
of disaggregated income taxes paid, prescribes standardized categories for the components of the effective tax rate reconciliation, and
modifies other income tax-related disclosures. The standard will be effective for us beginning with our annual reporting for fiscal year
2026, with early adoption permitted. We are currently evaluating the impact of this standard on our income tax disclosures.

NOTE
3. NET LOSS PER SHARE

Basic
net loss per share is based upon the weighted average number of common shares outstanding. This calculation includes the weighted
average number of shares of Series B, Voting, Convertible Preferred Stock (“Series B Preferred Stock”) outstanding as they
are deemed to be substantially similar to the common shares and shareholders are entitled to the same liquidation and dividend rights
and each share of Series B Preferred Stock is convertible at any time into 20 shares of the Company’s common stock. Diluted net
loss per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised.
Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the
beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby