Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 54

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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    31,

    June
    30,

    Other
    current assets
     
    2025

    2024

    Deposit
    for potential 9.9% equity interest in financial institution
     
    $
    -

    $
    1,800

    Prepaid
    expenses and other current assets

    703

    1,234

    Total
    other current assets
     
    $
    703

    $
    3,034

Included
in the other current assets balance as of June 30, 2024 was a deposit of $1.8 million made in connection with the potential acquisition
of a less than 10% equity interest in a U.S. domestic financial institution that was seeking certain regulatory approval. The regulatory
approval was obtained in September 2024 and the deposit was then converted into an equity interest in the financial institution. After
the regulatory approval, the $1.8 million was transferred from other current assets to other assets, non-current in the consolidated
balance sheet as shown below in the table “Other Assets, non-current” below.

 SCHEDULE OF INVENTORY 

    March 31,  
    June 30, 
  
    Inventories 
    2025  
    2024 
  
    Raw materials and supplies 
    $1,242  
    $1,417 
  
    Finished goods 
     903  
     774 
  
    Total inventories 
    $2,145  
    $2,191 

 SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

    March 31,  
    June 30, 
  
    Property
    and equipment, net 
    2025  
    2024 
  
    Manufacturing equipment 
    $1,936  
    $1,935 
  
    Land and building 
     575  
     575 
  
    Other equipment 
     854  
     827 
  
    Total property and equipment, gross 
     3,365  
     3,337 
  
    Accumulated depreciation 
      (2,368)  
     (2,171)
  
    Total property and equipment,
    net 
    $997  
    $1,166 

Depreciation
expense for property and equipment was less than $0.1 million for the three months ended March 31,