Company: MGLD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001493152-25-021259
Chunk: 30

Company: Marygold Companies, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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revenue in the form of management fees based on a percentage of the amount of account holder funds invested in various curated ETF portfolios
offered on the app (“Money Pools”), and from transaction fees when account holders used a debit card. The app was soft-launched
in June 2023 as a proof of concept. Since that time, the app earned only de minimis revenues. As a result, the offering of the app in
the US was paused by Marygold US during the fourth quarter of fiscal year 2025. For the quarter ended September 30, 2025, Marygold US
had no revenue and minimal expenses as compared with an operating loss of $1.4 million for the quarter ended September 30, 2024. Losses
and negative cash flows from Marygold US are expected to be significantly reduced for the remainder of this fiscal year.

Marygold
UK

Marygold UK is a U.K. holding company which operates through its two wholly-owned
subsidiaries Marygold & Co. Limited f/k/a Tiger Financial and Asset Management Limited and Step By Step Financial Planners, both of
which are registered investment advisors which earn revenues based on the amount of AUM and from the sale of financial products, including
insurance, to customers in the U.K.

Our total Financial Services revenue, derived entirely from Marygold UK,
for the quarter ended September 30, 2025, remained flat at $0.2 million compared to the quarter ended September 30, 2024. Marygold UK
continued development of a scaled down version of its fintech app designed specifically for use in the UK. Operating loss increased by
$0.2 million due to increased costs incurred in connection with the adoption and implementation of the Marygold mobile Fintech app for
the U.K. market. The consolidated operating loss for financial services was $0.4 million for the current quarter as compared to a loss
of $1.6 million for the quarter ended September 30, 2024.

Corporate
Headquarters

The
Marygold Companies as a holding company has no significant revenue, however, it does have operating expenses such as, but not limited
to, salaries, audit and legal fees, NYSE American listing fees and expenses, expenses related to compliance with its SEC periodic reporting
requirements, insurance, interest expense, and investor relations which produce operating losses. Operating loss for the corporate headquarters
was flat at $1.5 million for the quarter ended September