Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 127

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 1
Chunk 127
---
 the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign
Currencies

We
record foreign currency translation adjustments and transaction gains and losses in accordance with Accounting Standards Codification
(“ASC”) 830, Foreign Currency Matters. Assets and liabilities are translated at the exchange rate on the balance sheet date,
and operating results are translated at the average exchange rates throughout the prevailing period. Translation adjustments resulting
from this process are recorded to other comprehensive income (loss).

    F-7

Cash
and Cash Equivalents

Cash
and cash equivalents includes all cash and highly liquid debt instruments with original maturities of three months or less on the date
of purchase. The Company maintains its cash and cash equivalents in financial institutions in the United States, United Kingdom, Canada,
and New Zealand. Accounts in the United States are insured by the Federal Deposit Insurance Corporation. Accounts in New Zealand are
uninsured. The Company has, at times, held deposits in excess of insured amounts, but the Company does not expect any losses in such
accounts.

Accounts
Receivable

Management
regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic
trends, changes in customer payment patterns and reasonable and supportable forecasts about the future to determine whether or not an
account should be deemed uncollectible. Account balances are charged off against the allowance after all means of collection have been
exhausted and the potential for recovery is considered remote. As of June 30, 2025 and 2024, the Company had immaterial amounts reserved
for credit losses.

Accounts
receivable due from related parties consist of fund asset management fees receivable from the USCF Investments business. Management fees
receivable generally consist of one month of management fees which are collected in the month after they are earned.

Concentration
of Credit Risk

Our
subsidiary USCF relies on the revenues generated through the funds it manages. The concentration of fund management revenue and related
receivables were (dollars in thousands):

 SCHEDULE OF CONCENTRATION RISK

    Year Ended June 30,  
    June 30, 

    2025  
    2024  
    2025  
    2024 

    Revenue  
    % of Total  
    Revenue  
    % of Total  
    Accounts Receivable  
    % of Total