Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 63

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 2025, there was $0.2 million of unrecognized compensation expense related to outstanding
restricted stock awards (RSAs) that will be recognized over a remaining weighted average period of 1.1 years. The total stock-based compensation
expense recognized during the quarters ended March 31, 2025 and 2024 were each $0.1 million and the nine-month periods ended March 31,
2025 and 2024 were $0.7 million and $0.3 million, respectively.

During
the three and nine months ended March 31, 2025, the Company repurchased 37,597 and 210,817 
common shares, respectively, from employees for less than $0.1 million and approximately $0.3
million, respectively, to cover employee payroll taxes in connection with restricted stock awards. No similar transactions
occurred during the three or nine months ended March 31, 2024.

    16

NOTE
10. COMMITMENTS AND CONTINGENCIES

Lease
Commitments

For
each of the three months ended March 31, 2025 and 2024, the Company’s combined lease costs were $0.2
million and for the nine months ended March 31, 2025 and 2024 were $0.5
million and $0.6
million, respectively. The lease costs were recorded under general and administrative expense in the statements of operations.
During the nine months ended March 31, 2025 and 2024, the Company renewed leases which increased the right-of-use
assets and lease liabilities by $0.7
million and $0.8 million, respectively.

Future
minimum lease payments are (in thousands):

 SCHEDULE OF FUTURE MINIMUM CONSOLIDATED LEASE PAYMENTS  

    Year Ended
    June 30, 
    Operating
                                                                                Leases  
    Finance
    Lease  
    Total 
  
    Remainder of fiscal 2025 
    $210  
    $
    4  
    $
    214 
  
    2026 
     569  
     
    18  
     
    587 
  
    2027 
     324  
     
    18  
     
    342 
  
    2028 
     154  
     
    18  
     
    172 
  
    2029 
     -