The Marygold Companies Inc Stock Price, News & Analysis

The Marygold Companies (MGLD) has acquired a 7.95% ownership stake in Midland Capital Holdings (MCHC) for $1.8 million. MCHC's main operating entity, Midland Federal Savings and Loan Association, has $115 million in total assets and operates four branches in the Chicago area. The deal includes 180,044 warrants to purchase additional MCHC shares at $22.25, expiring in 2034. This acquisition aligns with Marygold's focus on financial services and fintech, following recent acquisitions of UK investment firms and the development of a mobile fintech app for spending, investing, and saving.

The Marygold Companies (NYSE American: MGLD) has secured $4.38 million in funding as part of a $6.56 million total private placement with Streeterville Capital, The funding will be used to implement next-stage initiatives for the company's Marygold & Co. project, including marketing its recently developed fintech app.

The app, soft-launched in the U.S. in 2023, offers a digital platform alternative to traditional banking, enabling users to spend, invest, and save. It features a digital wallet, physical debit card, and additional functionalities like unlimited money pool investing and PayAnyone™ capability. The company plans further U.S. market penetration and introduction in the U.K. later this year.

Maxim Group served as the exclusive agent for the private placement. A second funding portion is anticipated for January 2025, subject to certain conditions, with expected proceeds of approximately $2.0 million.

The Marygold Companies (NYSE American: MGLD) reported financial results for the fiscal year and fourth quarter ended June 30, 2024. Key points include:

• FY2024 revenue: $32.8 million (down from $34.9 million in FY2023)
• FY2024 net loss: $4.1 million ($0.10 per share), compared to net income of $1.2 million in FY2023
• Q4 2024 revenue: $8.3 million (down from $8.9 million in Q4 2023)
• Q4 2024 net loss: $1.9 million ($0.05 per share)
• Total assets: $32.9 million (down from $35.3 million)
• Cash and equivalents: $5.5 million (down from $8.2 million)

The company cited investments in its Marygold & Co. mobile fintech app, lower assets under management at USCF Investments, and an impairment charge for Original Sprout as factors impacting results.

The Marygold Companies (NYSE American: MGLD), a diversified global holding firm specializing in financial services, announced that its CEO, Nicholas Gerber, and COO, David Neibert, will present at the 2024 Maxim Fintech Virtual Symposium on June 25 at 2 p.m. EDT. This virtual event, accessible via M-Vest, will spotlight emerging companies in fintech, payments, and real estate leveraging advanced technology. TMC will showcase their new proprietary mobile fintech app, developed by their subsidiary Marygold & Co., discussing its innovative features and current development stage.

The Marygold Companies (NYSE: MGLD) reported a revenue of $7.9 million for Q3 FY24, down from $8.3 million last year. The company incurred a net loss of $0.5 million, or $0.01 per share, due to continued investment in its fintech app, Marygold & Co. For the nine months ended March 31, 2024, revenue was $24.6 million, down from $26 million last year, with a net loss of $2.2 million, or $0.05 per share. TMC's balance sheet remains strong with $4.5 million in cash and $11.6 million in investments, and almost no debt. Total assets were $33.7 million, and stockholders' equity was $28.4 million. The company recently acquired Step-by-Step Financial Planners in the UK, bringing its total UK assets under management to $75 million. Despite financial losses, TMC is focused on long-term value through its fintech investments.

The Marygold Companies, Inc. (NYSE American: MGLD) announced the acquisition of Step-By-Step Financial Planners , a UK-based investment advisory firm with approximately US$33.7 million in assets under management. This marks the second acquisition by Marygold & Co. (UK) and aligns with the company's strategy of expanding its global financial services and fintech presence. The acquisition aims to provide multi-channel financial services, including a new fintech app set to launch in the UK later this year.