Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 20

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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.5 years. The total stock-based compensation expense
recognized during the quarters ended December 31, 2024 and 2023 were $0.2 million and $0.1 million, respectively, and the six month periods
ended December 31, 2024 and 2023 were $0.6 million and $0.2 million, respectively.

During the quarter ended December 31, 2024, the Company
repurchased 173,220 common shares from an employee for approximately $0.3 million to cover employee payroll taxes in connection with
restricted stock awards. No similar transactions occurred during the three or six months ended December 31, 2023.

    16

NOTE
10. COMMITMENTS AND CONTINGENCIES

Lease
Commitments

For
each of the three months ended December 31, 2024 and 2023, the Company’s combined lease costs were $0.2
million and for the six months ended December 31, 2024 and 2023 were $0.5 million and $0.4 million, respectively. The lease costs were recorded under general and
administrative expense in the statements of operations. During the six months ended December 31, 2024, the Company renewed leases in
New Zealand and the US which increased the right-of-use assets and lease liabilities by $0.7
million.

Future
minimum lease payments are (in thousands):

 SCHEDULE OF FUTURE MINIMUM CONSOLIDATED LEASE PAYMENTS  

    Year Ended June 30, 
    Operating Leases  
    Finance Lease  
    Total 
  
    Remainder of fiscal 2025 
    $359  
    $9  
    $368 
  
    2026 
     566  
     18  
     584 
  
    2027 
     322  
     18  
     340 
  
    2028 
     154  
     17  
     171 
  
    2029 
     -  
     17  
     17 
  
    Thereafter 
     -  
     44  
     44 
  
    Total minimum lease payments 
     1,401  
     123  
     1,524 
  
    Less: present value discount 
     (122) 
     (27) 
     (149)
  
    Total lease