Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 120

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 2
Chunk 120
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 U.S. and abroad. Although management believes there are several financial institutions and other payment
providers in the U.S. and abroad who may be interested in a consumer faced mobile app such as ours, there can be no assurance we will
be successful in monetizing our app in its current state of development to these third parties through license, fee-based user, or other
arrangement.

Risks
Related to our Business and Structure

We
may face double taxation on certain income earned by our non-U.S. subsidiaries.

Under
the Internal Revenue Code (“Code”) provisions governing the taxation of income earned by “controlled
foreign corporations,” most or all of the income earned by our non-U.S. subsidiaries will be subject to U.S. federal income tax
in the year earned, even if not distributed to Marygold and even if fully taxed in the foreign countries in which those subsidiaries
are organized or operate. Although the Code provides for foreign tax credit relief with respect to the foreign income taxes imposed on
such income, that relief is limited in several respects that could have the effect of subjecting the same income to both U.S. and foreign
income taxation.

32

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item
3. Defaults Upon Senior Securities

None.

Item
4. Mine Safety Disclosures

Not
applicable.

Item
5. Other Information

Securities
Trading Plans of Directors and Executive Officers

During
the fiscal quarter ended December 31, 2024, none of the Company’s directors or officers, as defined in Section 16 of the Securities
Exchange Act of 1934, adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities
that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement”
as defined under Item 408(a) of Regulation S-K.

Item
6. Exhibits

The
following exhibits are filed or incorporated by reference as part of this Form 10-Q:

    31.1
     
    Certification of Principal Executive Officer pursuant to Rules 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  
    31.2
     
    Certification