Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 622

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 5
Chunk 622
---
 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. 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 financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated
balance sheets and related consolidated 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”).

Principles
of Consolidation

The
accompanying consolidated financial statements, which are referred herein as the “Financial Statements”, include the accounts
of The Marygold Companies and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation.

Use
of Estimates

The
preparation of the Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign
Currencies

We
record foreign currency translation adjustments and transaction gains and losses in accordance with Accounting Standards Codification
(“ASC”) 830, Foreign Currency Matters. Assets and liabilities are translated at the exchange rate on the balance sheet date,
and operating results are translated at the average exchange rates throughout the prevailing period. Translation adjustments resulting
from this process are