Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 64

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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    18  
     
    18 
  
    Thereafter 
     -  
     
    44  
     
    44 
  
    Total minimum lease payments 
     1,257  
     
    120  
     
    1,377 
  
    Less: present value discount 
     (92) 
     
    (24) 
     
    (116)
  
    Total lease liabilities 
    $1,165  
    $
    96  
    $
    1,261 

The
weighted average remaining lease term for the Company’s operating leases was 2.0 years as of March 31, 2025 and a weighted-average
discount rate of 5.8% was used to determine the total operating lease liabilities. The remaining lease term for the Company’s finance
lease was 6.6 years as of March 31, 2025 with an annual interest rate of 7.0%.

Other
Agreements and Commitments

As
the Company builds out its Fintech application, it enters into agreements with various service providers. As of March 31, 2025, Marygold
has future payment commitments with its primary service vendors totaling $0.4 million, including $0.3 million due during the remainder
of fiscal 2025 and $0.1 million due in fiscal 2026.

Litigation

From
time to time, the Company and its subsidiaries may be involved in legal proceedings arising in the ordinary course of their respective
businesses. Except as described below, there are no material pending legal proceedings against the Company or its subsidiaries. USCF
LLC is an indirect wholly owned subsidiary of the Company. USCF LLC, as the general partner of the United States Oil Fund, LP (“USO”)
and the general partner and sponsor of the related public funds may, from time to time, be involved in litigation arising out of its
operations in the ordinary course of business. Except as described herein, USO and USCF LLC are not currently party to any material legal
proceedings.

In
re: United States Oil Fund, LP Securities Litigation

On
June 19, 2020, USCF LLC, USO, John P. Love, and Stuart P. Crumbaugh, were named as defendants in a putative class action filed by purported
shareholder Robert Lucas (the “Lucas Class Action”). The