Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 19

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 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 
     -  
     
    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