Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 53

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 & Co. Limited f/k/a Tiger Financial & Asset Management Limited, a company incorporated and registered in England and Wales,
    whose registered office is in Northampton, England; and

    ■
    Step-By-Step
    Financial Planners Limited, a company incorporated and registered in England and Wales, whose registered office is in Staffordshire,
    England.

The
Company manages its operating businesses on a decentralized basis. There are no centralized or integrated operational functions such
as marketing, sales, legal or other professional services and there is little involvement by The Marygold Companies’ management
in the day-to-day business affairs of its operating subsidiary businesses apart from oversight. Each subsidiary is responsible for its
financial reporting to the Company’s corporate management which corporate management maintains controls over the Company’s
consolidated regulatory and financial reporting in accordance with Securities and Exchange Commission and other regulatory reporting
requirements. The Company’s corporate management is responsible for capital allocation decisions, investment activities and selection
and retention of the Chief Executive to head each of the operating subsidiaries. The Company’s corporate management is also responsible
for corporate governance practices, monitoring regulatory affairs, including those of its operating businesses and involvement in governance-related
issues of its subsidiaries as needed.

NOTE
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation and Accounting Principles

The
Company has prepared the accompanying unaudited condensed financial statements on a consolidated basis. In the opinion of
management, the accompanying unaudited condensed consolidated balance sheets, related statements of operations, comprehensive loss,
stockholders’ equity and cash flows include all adjustments, consisting only of normal recurring items, necessary for their
fair presentation, prepared on an accrual basis, in conformity with generally accepted accounting principles in the United States of
America (“U.S. GAAP”) but does not include all of the information and footnotes required by U.S. GAAP for complete
audited financial statements. Operating results for the three months and six months ended December 31, 2024, are not necessarily
indicative of the results that may be expected for the year ending June 30, 2025. The condensed consolidated balance sheet as of
June 30, 2024, has been derived from the audited consolidated financial statements at that date included in our annual report on
Form 10-K for the year ended June 30, 2024, but does not include all of the information and footnotes required by U.S. GAAP for
complete aud