Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 12

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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    June
    30, 2024 
  
    Intangible
    Assets 
    Weighted Average Remaining Life (in
                                            years)  
    Intangible Assets (Gross)  
    Accumulated Amortization  
    Intangible Asset
                                            (Net) 

    (dollars
    in thousands) 
  
    Customer relationships 
     5.4  
    $1,540  
    $(624) 
    $916 
  
    Brand name 
     1.7  
     414  
     (332) 
     82 
  
    Brand name – indefinite lived 
     N/A  
     231  
     -  
     231 
  
    Internally developed software 
     2.0  
     218  
     (72) 
     146 
  
    Total 
        
    $2,403  
    $(1,028) 
    $1,375 

Total
amortization expense for intangible assets was $0.1 million for each of the three months ended March 31, 2025 and 2024 and $0.2 million
and $0.3 million for the nine months ended March 31, 2025 and 2024, respectively.

Estimated
remaining amortization expenses of intangible assets for the next five 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