MGLDHIGH SIGNALFINANCIAL10-K

MGLD shows deteriorating financial performance with substantially worsening operating cash flow losses and meaningfully higher net losses amid declining liquidity position.

The company's operating cash flow losses deepened substantially while net losses grew meaningfully, indicating operational challenges are intensifying. The simultaneous decline in current assets coupled with rising current liabilities suggests potential liquidity pressures that warrant close monitoring.

Comparing 2025-09-19 vs 2024-09-18View on EDGAR →
FINANCIAL ANALYSIS

MGLD's financial position weakened across key metrics, with operating cash flow losses substantially higher and net losses meaningfully increased year-over-year. The balance sheet shows stress signals as current assets declined 21.5% to $19.0M while current liabilities rose 26.7% to $6.6M, compressing working capital. Overall stockholders' equity fell 13.6% to $23.0M, reflecting the accumulated losses and suggesting the company is consuming capital to fund operations.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
-73.7%
-$1.9M-$3.3M

Operating cash flow fell 73.7% — earnings quality concerns; investigate working capital changes and non-cash items.

Net Income
P&L
-43%
-$4.1M-$5.8M

Net income declined 43% — review whether driven by operations, interest costs, or non-recurring items.

Current Liabilities
Balance Sheet
+26.7%
$5.2M$6.6M

Current liabilities rose 26.7% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
-21.5%
$24.3M$19.0M

Current assets declined 21.5% — monitor working capital adequacy and short-term liquidity.

Total Liabilities
Balance Sheet
+18.3%
$6.3M$7.4M

Liabilities increased 18.3% — monitor debt-to-equity ratio and interest coverage.

Stockholders Equity
Balance Sheet
-13.6%
$26.6M$23.0M

Equity decreased 13.6% — buybacks or losses reducing book value, monitor solvency ratios.

Accounts Receivable
Balance Sheet
-11.8%
$2.7M$2.4M

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2025-09-19
PRIOR — 2024-09-18
ADDED
This determination of executive officer and director affiliate status is not necessarily a conclusive determination for any other purpose.
As of June 30, 2025, 42,817,687 shares of common stock, $ 0.001 par value per share ( common stock ), and 13,302 shares of Series B Convertible, Voting, Preferred Stock ( Series B Preferred Stock ) of the registrant were outstanding.
Forward-looking statements generally relate to future events or our future financial or operating performance, which generally are not historical in nature.
In this Form 10-K, unless the context otherwise requires, references to we, our, or us, Company, The Marygold Companies, refer to The Marygold Companies, Inc., a Nevada corporation, and its subsidiaries.
Our logo, trademarks and service marks are the property of the Company.
Other trademarks or service marks appearing in this prospectus supplement are the property of their respective holders.
Solely for convenience, trademarks, trade names, service marks and copyrights referred to in this Form 10-K may appear with or without the , or symbols, but the inclusion, or not, of such references are not intended to indicate, in any way, that we, or the applicable owner, will not assert, to the fullest extent possible under applicable law, our or their, as applicable, rights to these trademarks, trade names service marks or copyrights.
We do not intend our use or display of other companies trademarks, trade names, service marks or copyrights to imply a relationship with, or endorsement or sponsorship of us by, such other companies.
BUSINESS The Marygold Companies, Inc., a Nevada corporation (together with its subsidiaries, we, us, our, Company, or The Marygold Companies ) is a holding company which operates through its wholly owned subsidiaries on a multinational scale that is focused upon financial services, exchange traded funds management and certain other business activities listed below: U.S.
Fund Management - USCF Investments, Inc., a Delaware corporation ( USCF Investments ), with corporate headquarters in Walnut Creek, California and its wholly owned subsidiaries, which provide fund management services to exchange traded fund and exchange traded products ( ETFs ): United States Commodity Funds, LLC, a Delaware limited liability company ( USCF LLC ), and USCF Advisers, LLC, a Delaware limited liability company ( USCF Advisers ).
REMOVED
As of June 30, 2024, 40,096,150 shares of Common Stock, $ 0.001 par value, and 49,360 shares of Series B Convertible, Voting, Preferred Stock ( Series B Preferred Stock ) outstanding of the registrant were issued and outstanding.
Forward-looking statements generally relate to future events or our future financial or operating performance.
Financial Services United States and Great Britain: Marygold Co., a Delaware corporation, based in Denver, Colorado, and its wholly-owned subsidiary, Marygold Co.
Our business units employed 116 people located in various parts of the world such as, New Zealand, Canada, Great Britain and the United States through the fiscal year ended June 30, 2024.
Subsidiary Business Overview Fund Management - USCF Investments In 2016, we acquired all of the issued and outstanding stock in USCF Investments , Inc.
USCF LLC and USCF Advisers provide investment fund management and advisory services and receive management and/or investment advisory fees for providing such services to each of the ETFs it manages.
Currently, USCF LLC and USCF Advisers collectively manage and service 16 exchange traded funds ( ETFs ), the shares or other interests of which are listed and traded on the NYSE Arca, Inc.
Our competitors products may have better performance or are more effectively marketed and sold, than any products we may commercialize.
Each series of the ETF Trust managed by USCF Advisers is registered as an investment company under the Investment Company Act.
USCF Investments, through its operating subsidiaries, bears all of its own expenses associated with providing these advisory services such as the expenses of the members of the independent board of directors.
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