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The Marygold Companies, Inc. (symbol: MGLD) is a diversified multinational conglomerate with a strategic focus on identifying, acquiring, and managing profitable and undervalued companies across various sectors. Established in 1996 as a small technology firm under the name Concierge Technologies, Inc., the company underwent significant transformation and rebranded to The Marygold Companies in 2022.
Today, The Marygold Companies operates through several key subsidiaries:
- Marygold & Co.: A fintech mobile banking app that provides an innovative platform for financial management, including tax filing, investment, and spending solutions. The app is available for free on both Android and iOS, offering services such as fee-free spending accounts and Money Pool investment accounts.
- USCF Investments: A leader in financial services offering investment management and advisory services.
- Gourmet Foods: Specializes in the manufacture of high-quality food products, catering to diverse culinary preferences.
- Printstock Products: Engages in printing and packaging solutions, serving a broad range of industries.
- Brigadier Security Systems: Provides advanced security system installations and services to ensure safety and security.
- Original Sprout: A beauty products company known for its eco-friendly and safe personal care products.
The company's mission, encapsulated in its motto “Growing Together,” emphasizes the creation of unity among its subsidiaries, the parent company, and its shareholders. This vision is supported by robust business practices aimed at generating consistent revenue streams and increasing shareholder value. The Marygold Companies' stock is listed on the NYSE American under the ticker symbol MGLD.
Recently, The Marygold Companies made headlines with its subsidiary Marygold & Co. partnering with the AI-driven tax firm april to offer free tax filing services within its app. This strategic move aims to enhance client experience by providing a comprehensive financial management solution under one platform. The app’s integration of AI-driven tax filing ensures maximum refunds for users, reinforcing the company’s commitment to innovation and client satisfaction.
Marygold Companies, Inc. (MGLD) announced the appointment of Timothy M. Rooney as President of Marygold & Co., a subsidiary focused on developing a mobile banking app. The app, now in beta testing after three years of development, aims to provide a unified platform for spending, receiving, saving, and investing. It boasts features like secure payment sending, interest-bearing accounts, and customizable investing options. Over 10,000 potential clients are on the waitlist. CEO Nicholas Gerber emphasized Rooney's leadership experience in financial services and their readiness for market launch.
The Marygold Companies, Inc. (MGLD) reported Q1 fiscal 2023 net revenues of $8.9 million, a decline from $9.7 million in Q1 2022. Net income rose to $497,000 or $0.01 per share, from a net loss of $1.9 million the previous year. Total stockholders’ equity increased to $29.2 million. Despite a $300 million decrease in assets under management at USCF Investments, overall gross profit from other subsidiaries improved by 2% to 9%. The company is also advancing its mobile fintech app, now in final testing phases.
The Marygold Companies, Inc. (MGLD) will present at the LD Micro Main Event XV Conference on October 26, 2022, at 1:30 p.m. PDT. CEO Nicholas Gerber and COO David Neibert will introduce the company’s new consumer fintech app, which is currently in beta testing, allowing secure transactions via mobile devices. The presentation will be available live and archived on their website. TMC, a diversified holding firm with global subsidiaries in financial services and food manufacturing, recently transitioned from Concierge Technologies, Inc. in March 2022.
The Marygold Companies reported its fiscal year 2022 financial results, revealing net revenues of $37.8 million, down from $39.9 million in 2021. Net income decreased to $1.1 million ($0.03 per share), compared to $5.8 million ($0.15 per share) the previous year. The company maintained profitability in Q4 with revenues of $9.9 million, up from $9.7 million year-over-year. Despite challenges, total assets increased to $35.3 million, and equity rose to $29.0 million. The organization ended the year debt-free after settling $740,000 in related-party debts.
Marygold Companies, Inc. (NYSE American: MGLD) will present at the Sidoti Micro-Cap Conference on August 17, 2022, at 10:45 a.m. EDT. CEO Nicholas Gerber and COO David Neibert will lead the presentation. The Company encourages investor participation through virtual one-on-one meetings on the same day and on August 18. Interested attendees can register for the presentation and meetings via Sidoti's website. Founded in 1996, Marygold has diversified operations in various sectors including finance and food manufacturing.
The Marygold Companies (AMEX:MGLD) successfully completed the acquisition of Tiger Financial & Asset Management Limited for £1.5 million plus estimated net assets of £863,977, totaling approximately $3.0 million. This acquisition allows Marygold to enhance its financial services in the U.K., managing approximately £42 million in assets under advice. The firm will leverage its fintech app to offer innovative payment services. The purchase is structured in three payments, with the first installment of about $1.7 million made at closing. Key personnel from Tiger will remain with the company.
The Marygold Companies, Inc. (MGLD) reported financial results for the third fiscal quarter and nine months ending March 31, 2022. Consolidated revenues for the third quarter were $9 million, down from $10 million year-over-year, with net income of $0.9 million, down from $1.6 million. Total assets increased to $34 million, with cash and equivalents at $16 million. Costs related to the development of a mobile fintech app amounted to $1.5 million. The company is nearing completion of the app, expecting beta testing soon and a launch by the end of 2022, aiming to enhance shareholder returns and liquidity.
The Marygold Companies, Inc. (AMEX: MGLD) announced its participation in Maxim Group's 2022 Virtual Growth Conference scheduled from March 28-30, 2022. CEO Nicholas Gerber and COO David Neibert will present, with the presentation available on the M-Vest platform for on-demand viewing throughout the event. Founded in 1996 and rebranded as a global holding firm in 2015, Marygold operates in various sectors including financial services, food manufacturing, and beauty products, with offices in the U.S., New Zealand, U.K., and Canada.
The Marygold Companies, Inc. (NYSE American: MGLD) announced the closing of its public offering of 1,897,500 shares of common stock, achieving gross proceeds of approximately $3,795,000. The offering had a full exercise of the underwriter's over-allotment option for 247,500 shares. This was conducted under a registration statement declared effective by the SEC on March 9, 2022. Maxim Group LLC served as the sole book-running manager. The common stock began trading on NYSE American on March 10, 2022.
Original Sprout, a leader in vegan hair and skin care products, has unveiled two new offerings at the Natural Products Expo West: the 'Worry Free' collection and 'Bundle of Joy' gift set. The Worry Free Collection aims to provide safe, effective products free from toxic ingredients, including shampoo and conditioner priced at $14.99 each. The Bundle of Joy, with a retail value of over $135, will sell for $74.99 and includes nine products along with bath accessories. Original Sprout emphasizes its commitment to quality and customer satisfaction.
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