Company: GLDW
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001437749-25-002864
Chunk: 6

Company: World Gold Trust
Filing Date: 2025-02-05
Form: 10-Q
Item: Item 8
Chunk 6
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 there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of December 31, 2024. As of December 31, 2024, the 2023, 2022 and 2021 tax years remain open for examination. There were no examinations in progress at period end.  

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    3.  Related Parties – Sponsor 

   Effective February 23, 2022, the Sponsor reduced its annual fee of 0.18% of the NAV of GLDM to 0.10% of the NAV of GLDM and implemented a one-for-two reverse stock split of the Shares which now represent 1/50th of an ounce of gold. The Sponsor’s annual fee equal to 0.10% of the NAV of GLDM is calculated daily. The Sponsor is responsible for the payment of all GLDM’s ordinary fees and expenses, including but not limited to the following: fees charged by GLDM’s Administrator, Custodians, Marketing Agent and Trustee; exchange listing fees; typical maintenance and transaction fees of The Depository Trust Company; SEC registration fees; printing and mailing costs; audit fees and expenses; and legal fees not in excess of $100,000 per annum and expenses and applicable license fees. The Sponsor is not, however, required to pay any extraordinary expenses incurred in the ordinary course of GLDM’s business as outlined in the Sponsor’s agreement with the Trust.

    4.  GLDM Expenses  

   GLDM’s only ordinary recurring operating expense is the Sponsor’s annual fee of 0.10% of the NAV of GLDM. The Sponsor’s fee is payable monthly in arrears.
    
   Expenses payable will reduce the NAV of GLDM.

    5.  Concentration of Risk  

   GLDM’s primary business activities are the investment in gold and the issuance and sale of Shares.
    
   Various factors could affect the price of gold including: (i) global gold supply and demand, which is influenced by such factors as forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions, central bank purchases and sales, and production and cost levels in major gold-producing countries such as China, Australia, South Africa and the United States; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading