Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 24

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 respectively, and $13.4
million and $14.5
million for the nine months ended March 31, 2025 and 2024, respectively, were earned from these related parties. Accounts
receivable, totaling $1.3
million and $1.5
million as of March 31, 2025 and June 30, 2024, respectively, were owed from the funds that may be deemed related parties. USCF
Investments, from time to time, provides initial seed capital investments in connection with the organization of ETP and ETF funds
that USCF LLC manages. As of March 31, 2025 and June 30, 2024, the Company held a total of $6.5 million and $7.5
million, respectively, in funds managed by USCF Advisers which are included in investments on the consolidated balance sheets. The
Company owns 38% and 45%
of the outstanding shares of or other interest in these funds as of March 31, 2025 and June 30, 2024, respectively. Included in
interest and dividend income on the consolidated statements of operations are $0.1
million for both the three months ended March 31, 2025 and 2024, respectively, and $1.1 million and $0.2
million for the nine months ended March 31, 2025 and 2024, respectively, of dividends earned from these related party
investments.

USCF
Advisers is no longer contractually obligated to pay license fees to an affiliated entity related to intellectual property rights
for two of the funds during fiscal 2025 and 2026 as both parties agreed to reduce the license fee. The amount of license fee
accrued as an expense during the three months ended March 31, 2025 and 2024 was zero and $0.1 million, respectively, and during the
nine months ended March 31, 2025 and 2024 was $0.5 million and $0.2 million,
respectively.

Refer
to Note 8. Notes Payable for a description of a related party transaction involving the Nicholas and Melinda Gerber Living Trust (“Gerber
Trust”), of which our CEO is a trustee, pursuant to which, in connection with the Company’s recent debt financing transaction,
the Gerber Trust provided to the holder of the note issued in the financing transaction a guaranty of the