Company: MGLD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001493152-25-021259
Chunk: 7

Company: Marygold Companies, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 962  
     21% 
     377  
     26% 
     289  
     23%
  
    Total 
    $4,329  
     100% 
    $4,591  
     100% 
    $1,463  
     100% 
    $1,281  
     100%

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

Recently
Issued Accounting Pronouncements

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.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of
Credit Losses for Accounts Receivable and Contract Assets. This update introduces a practical expedient and an accounting policy election
intended to simplify the application of the credit loss model to current accounts receivable and contract assets arising from transactions
accounted for under Topic 606, Revenue from Contracts with Customers. The practical expedient allows entities to assume that current conditions
as of the balance sheet date remain unchanged for the remaining life of the asset. ASU 2025-05 is effective for annual and interim periods
beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating the impact of ASU 2025-05 on its
financial statements.

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