Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Sep. 27, 2022 | Dec. 31, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001005101 | ||
Entity Registrant Name | Marygold Companies, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jun. 30, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 000-29913 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 90-1133909 | ||
Entity Address, Address Line One | 120 Calle Iglesia Unit B | ||
Entity Address, City or Town | San Clemente | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92672 | ||
City Area Code | 866 | ||
Local Phone Number | 800.2978 | ||
Title of 12(b) Security | Common stock, par value $0.001 per share | ||
Trading Symbol | MGLD | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 7,688,869 | ||
Auditor Firm ID | 207 | ||
Auditor Name | BPM LLP | ||
Auditor Location | San Francisco, California | ||
Series B Preferred Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 49,360 | ||
Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 39,383,459 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | |
CURRENT ASSETS | |||
Cash and cash equivalents | $ 12,915,620 | $ 16,072,955 | [1] |
Accounts receivable, net | 959,350 | 1,070,541 | [1] |
Accounts receivable - related parties | 2,230,874 | 2,038,054 | [1] |
Inventories | 2,200,742 | 1,951,792 | [1] |
Prepaid income tax and tax receivable | 1,166,318 | 747,343 | [1] |
Investments, at fair value | 5,065,931 | 1,828,926 | |
Other current assets | 699,547 | 399,524 | [1] |
Total current assets | 25,238,382 | 24,109,135 | [1] |
Restricted cash | 1,013,279 | 13,989 | [1] |
Net property, plant and equipment | 1,391,894 | 1,573,445 | [1] |
Operating lease right-of-use asset | 1,357,686 | 1,058,199 | [1] |
Goodwill | 2,307,202 | 1,043,473 | [1] |
Intangible assets, net | 2,708,896 | 2,341,803 | [1] |
Deferred tax assets, net - United States | 753,078 | 827,476 | [1] |
Other assets, long - term | 540,160 | 540,160 | [1] |
Total assets | 35,310,577 | 31,507,680 | [1] |
CURRENT LIABILITIES | |||
Accounts payable and accrued expenses | 2,805,790 | 3,862,874 | [1] |
Expense waivers – related parties | 70,199 | 69,684 | [1] |
Operating lease liabilities, current portion | 660,957 | 513,071 | [1] |
Purchase consideration payable | 1,237,207 | 0 | |
Notes payable - related parties | 0 | 603,500 | [1] |
Loans-property and equipment, current portion | 33,496 | 15,094 | [1] |
Total current liabilities | 4,807,649 | 5,064,223 | [1] |
LONG-TERM LIABILITIES | |||
Loans-property and equipment, net of current portion | 459,178 | 379,804 | [1] |
Operating lease liabilities, net of current portion | 743,923 | 607,560 | [1] |
Deferred tax liabilities, net - foreign | 260,553 | 169,429 | [1] |
Total long-term liabilities | 1,463,654 | 1,156,793 | [1] |
Total liabilities | 6,271,303 | 6,221,016 | [1] |
STOCKHOLDERS' EQUITY | |||
Convertible preferred stock, $0.001 par value; 50,000,000 shares authorized Series B: 49,360 shares issued and outstanding at June 30, 2022 and at June 30, 2021 | 49 | 49 | |
Common stock, $0.001 par value; 900,000,000 shares authorized; 39,383,459 shares issued and outstanding at June 30, 2022 and 37,485,959 at June 30, 2021 | 39,384 | 37,486 | [1] |
Additional paid-in capital | 12,313,205 | 9,330,843 | [1] |
Accumulated other comprehensive (loss) income | (234,790) | 142,581 | [1] |
Retained earnings | 16,921,426 | 15,775,705 | [1] |
Total stockholders' equity | 29,039,274 | 25,286,664 | [1] |
Total liabilities and stockholders' equity | $ 35,310,577 | $ 31,507,680 | [1] |
[1]Derived from audited financial statements |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2022 | Jun. 30, 2021 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued (in shares) | 49,360 | 49,360 |
Preferred Stock, Shares Outstanding (in shares) | 49,360 | 49,360 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 900,000,000 | 900,000,000 |
Common stock, shares issued (in shares) | 39,383,459 | 37,485,959 |
Common stock, shares outstanding (in shares) | 39,383,459 | 37,485,959 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Net revenue | ||
Revenue, related parties | $ 23,835,348 | $ 25,169,182 |
Net revenue | 37,829,123 | 39,904,448 |
Cost of revenue | 9,194,783 | 9,290,616 |
Gross profit | 28,634,340 | 30,613,832 |
Operating expense | ||
Salaries and compensation | 8,812,081 | 8,843,618 |
General and administrative expense | 6,794,645 | 7,140,870 |
Fund operations | 4,600,535 | 3,658,593 |
Marketing and advertising | 2,985,659 | 2,952,295 |
Legal settlement | 2,500,000 | 0 |
Depreciation and amortization | 561,019 | 599,979 |
Total operating expenses | 26,253,939 | 23,195,355 |
Income from operations | 2,380,401 | 7,418,477 |
Other income (expense): | ||
Interest and dividend income | 35,357 | 28,823 |
Interest expense | (31,512) | (40,375) |
Other (expense) income, net | (26,125) | 227,976 |
Total other (expense) income, net | (22,280) | 216,424 |
Income before income taxes | 2,358,121 | 7,634,901 |
Provision of income taxes | (1,212,400) | (1,785,458) |
Net income | $ 1,145,721 | $ 5,849,443 |
Weighted average shares | ||
Net income available to common shareholders (in shares) | 39,034,611 | 38,473,159 |
Net income per share | ||
Net income available to common shareholders (in dollars per share) | $ 0.03 | $ 0.15 |
Food and Beverage [Member] | ||
Net revenue | ||
Revenue | $ 7,930,888 | $ 8,263,267 |
Security Alarm Monitoring [Member] | ||
Net revenue | ||
Revenue | 2,533,098 | 2,715,487 |
Beauty Products [Member] | ||
Net revenue | ||
Revenue | $ 3,529,789 | $ 3,756,512 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 1,145,721 | $ 5,849,443 |
Other comprehensive income: | ||
Foreign currency translation (loss) gain | (377,371) | 287,325 |
Comprehensive income | $ 768,350 | $ 6,136,768 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Jun. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Jun. 30, 2020 | $ 53 | $ 37,413 | $ 9,330,912 | $ (144,744) | $ 9,926,262 | $ 19,149,896 | |
Gain (loss) on currency translation | $ 0 | $ 0 | 0 | 287,325 | 0 | 287,325 | |
Conversion of preferred stock to common stock (in shares) | (3,672) | 73,440 | |||||
Conversion of preferred stock to common stock | $ (4) | $ 73 | (69) | 0 | 0 | 0 | |
Net income | $ 0 | $ 0 | 0 | 0 | 5,849,443 | 5,849,443 | |
Balance (in shares) at Jun. 30, 2021 | 49,360 | 37,485,959 | |||||
Balance at Jun. 30, 2021 | $ 49 | $ 37,486 | 9,330,843 | 142,581 | 15,775,705 | 25,286,664 | [1] |
Gain (loss) on currency translation | 0 | 0 | 0 | (377,371) | 0 | (377,371) | |
Net income | $ 0 | $ 0 | 0 | 0 | 1,145,721 | 1,145,721 | |
Issuance of common stock in public offering, net of issuance costs $549,090 (in shares) | 0 | 1,897,500 | |||||
Stock Issued During Period, Value, New Issues | $ 0 | $ 1,898 | 2,982,362 | 0 | 0 | 2,984,260 | |
Balance (in shares) at Jun. 30, 2022 | 49,360 | 39,383,459 | |||||
Balance at Jun. 30, 2022 | $ 49 | $ 39,384 | $ 12,313,205 | $ (234,790) | $ 16,921,426 | $ 29,039,274 | |
[1]Derived from audited financial statements |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
Issuance costs | $ 549,090 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | ||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 1,145,721 | $ 5,849,443 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 561,019 | 599,979 | |
Deferred taxes | 51,689 | (19,092) | |
Bad debt expense | 4,350 | 9,753 | |
Inventory provision | 10,509 | 65,021 | |
Unrealized gain on investments | (28,474) | (582) | |
(Gain) loss on disposal of equipment | (17,455) | 18,813 | |
Operating lease right of use asset - non-cash lease cost | 764,311 | 614,506 | |
(Increase) decrease in operating assets: | |||
Accounts receivable, net | 44,356 | (306,596) | |
Accounts receivable - related party | (192,820) | 572,863 | |
Prepaid income taxes and tax receivable | (431,005) | 114,083 | |
Inventories | (379,905) | (787,081) | |
Other current assets | (287,750) | 223,590 | |
Increase (decrease) in operating liabilities: | |||
Accounts payable and accrued expenses | (1,048,279) | 978,726 | |
Operating lease liabilities | (777,082) | (361,823) | |
Expense waivers - related party | 515 | (352,207) | |
Net cash (used in) provided by operating activities | (580,300) | 7,219,396 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Cash paid for acquisition of business, net | (508,851) | (1,115,545) | |
Purchase of property, plant and equipment | (44,041) | (77,721) | |
Proceeds from sale of property, plant and equipment | 31,612 | 0 | |
Proceeds from sale of investments | 508,122 | 0 | |
Purchase of investments | (3,712,250) | (7,827) | |
Net cash used in investing activities | (3,725,408) | (1,201,093) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Cash received from sale of common stock, net | 2,984,260 | 0 | |
Repayment of related party loans | (603,500) | 0 | |
Repayment of property and equipment loans | (41,884) | (28,434) | |
Net cash provided by (used in) financing activities | 2,338,876 | (28,434) | |
Effect of exchange rate change on cash, cash equivalents and restricted cash | (191,213) | 271,033 | |
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (2,158,045) | 6,260,902 | |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 16,086,944 | 9,826,042 | |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 13,928,899 | 16,086,944 | |
Cash and cash equivalents | 12,915,620 | 16,072,955 | [1] |
Restricted cash | 1,013,279 | 13,989 | |
Total cash, cash equivalents and restricted cash shown in statement of cash flows | 13,928,899 | 16,086,944 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Interest paid | 16,401 | 16,095 | |
Income taxes paid, net | 1,704,970 | 1,688,781 | |
NON CASH INVESTING AND FINANCING ACTIVITIES | |||
Reclassification of business acquisition deposit | 0 | 122,111 | |
Purchase consideration payable | 1,237,207 | 0 | |
Fair value of warrants of common stock issued to underwriters | 132,000 | 0 | |
Acquistion of equipment through finance lease liability | 150,625 | 0 | |
Establishment of operating right-of-use assets through operating lease obligations | $ 1,057,965 | $ 730,741 | |
[1]Derived from audited financial statements |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. ORGANIZATION AND DESCRIPTION OF BUSINESS The Marygold Companies, Inc., (the “Company” or “The Marygold Companies”), a Nevada corporation, operates through its wholly owned subsidiaries who are engaged in varied business activities. The operations of the Company’s wholly-owned subsidiaries are more particularly described herein but are summarized as follows: ● USCF Investments, Inc. ("USCF Investments") (f/k/a Wainwright Holdings, Inc.), a U.S. based company, is the sole member of two ● Gourmet Foods, Ltd., a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial scale and its wholly owned New Zealand subsidiary company, Printstock Products Limited ("Printstock"), prints specialty wrappers for the food industry in New Zealand and Australia (collectively "Gourmet Foods"). ● Brigadier Security Systems ( 2000 ● Kahnalytics, Inc. dba/Original Sprout (“Original Sprout”), a U.S. based company, is engaged in the wholesale distribution of hair and skin care products under the brand name Original Sprout on a global scale. ● Marygold & Co., a newly formed U.S. based company, together with its wholly owned limited liability company, Marygold & Co. Advisory Services, LLC, (collectively "Marygold") was established by The Marygold Companies to explore opportunities in the financial technology ("Fintech") space, is still in the development stage as of June 30, 2022, June 30, 2022, ● Marygold & Co. (UK) Limited, a newly formed U.K. limited company, together with its newly acquired UK subsidiary, Tiger Financial and Asset Management, Ltd. (collectively “Marygold UK”) is an asset manager and registered investment advisor in the UK. Operations began on June 20, 2022. The Marygold Companies manages its operating businesses on a decentralized basis. There are no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 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 income, comprehensive income, 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 accounting principles generally accepted 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, USCF Investments, Gourmet Foods, Brigadier, Original Sprout, Marygold and Marygold UK are presented on a consolidated basis. All inter-company transactions and accounts 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. Cash and Cash Equivalents Cash and cash equivalents includes all cash and highly liquid debt instruments with original maturities of three $250,000 CD$100,000 £85,000. not Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net, consist of receivables from the Brigadier, Gourmet Foods, and Original Sprout businesses. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not June 30, 2022 June 30, 2021, Accounts receivable - related parties, consist of fund asset management fees receivable from the USCF Investments business. Management fees receivable generally consist of one June 30, 2022 June 30, 2021, Major Customers and Suppliers Concentration of Credit Risk The Marygold Companies, as a holding company, operates through its wholly-owned subsidiaries and has no no no June 30, 2022 2021. June 20, 2022 no June 30, 2022. For our subsidiary, USCF Investments, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated 12 June 30, 2022 June 30, 2021 Year ended June 30, 2022 Year ended June 30, 2021 Revenue Revenue Fund USO $ 12,634,794 53 % $ 16,361,870 65 % BNO 2,074,177 9 % 2,665,589 11 % UNG 2,380,912 10 % 2,054,047 8 % USCI 2,266,692 10 % 1,176,094 5 % All Others 4,478,773 18 % 2,911,582 11 % Total $ 23,835,348 100 % $ 25,169,182 100 % June 30, 2022 June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 1,101,495 49 % $ 1,156,691 57 % BNO 192,208 9 % 196,713 10 % USCI 270,796 12 % 141,346 7 % UNG 249,638 11 % 130,543 6 % All Others 416,737 19 % 412,761 20 % Total $ 2,230,874 100 % $ 2,038,054 100 % The Marygold Companies, through Gourmet Foods, and following the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 not 15 Baking: three 1 2 3 no June 30, 2022, June 30, 2021. June 30, 2022 June 30, 2021. second not June 30, 2022 2021. June 30, 2022 2021, In the gasoline convenience store market customer group, Gourmet Foods supplies two June 30, 2022 2021 No June 30, 2022 2021, second June 30, 2022 June 30, 2021. No June 30, 2022 2021, The third no June 30, 2022 2021. Printing: one June 30, 2022 June 30, 2021. No June 30, 2022 2021. Consolidated: June 30, 2022 2021, June 30, 2022 June 30, 2021. Gourmet Foods, including Printstock, is not one The Marygold Companies, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company that provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 52% and 49% of the total Brigadier revenues for the years ended June 30, 2022 June 30, 2021, June 30, 2022 2021. No June 30, 2022, June 30, 2021. Brigadier purchases alarm panels, digital and analog cameras, mounting hardware and accessory items needed to complete security installations from a variety of sources. The manufacture of electronic items such as those sought by Brigadier has expanded to a global scale thus providing Brigadier with a broad choice of suppliers. Brigadier bases its vendor selection on several criteria including: price, availability, shipping costs, quality, suitability for purpose and the technical support of the manufacturer. Brigadier is not one The Marygold Companies, through Original Sprout, sells its products through 3 1 2 3 Original Sprout has thousands of customers and, from time to time, certain of them become significant during specific reporting periods, but may not June 30, 2022 June 30, 2021. June 30, 2022, June 30, 2021. Six none June 30, 2022 June 30, 2021. The Marygold Companies, through Original Sprout, is dependent upon its relationship with a product packaging company who, at the direction of Original Sprout, produces the products in accordance with proprietary formulas, packages them in appropriate containers, and delivers the finished goods to Original Sprout for distribution to its customers. All of Original Sprout’s products are currently produced by this packaging company, although if this relationship were to fail there are other similar packaging companies available to Original Sprout at competitive pricing. Because of the nature of the Original Sprout product ingredients, some of the ingredients may, 90 not not not Inventories Inventories, consisting primarily of; (i) food products, printing supplies, and packaging in New Zealand, (ii) hair and skin care finished products and components in the U.S., (iii) security system hardware in Canada, and (iv) printed debit cards and wearables at Marygold are valued at the lower of cost or net realizable value. Inventories in Canada and New Zealand are maintained on the first first June 30, 2022 June 30, 2021, Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and leasehold improvements are capitalized. Office furniture and equipment include office fixtures, computers, printers and other office equipment plus software and applicable packaging designs. Leasehold improvements, which are included in plant and equipment, are depreciated over the shorter of the useful life of the improvement and the length of the lease. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight line method over the estimated useful life of the asset (see Note 5 Category Estimated Useful Life (in years) Building 39 Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists along with the internally developed software in process for the business applications of Marygold to be launched during the coming fiscal year, and the U.K. regulatory certification acquired by Marygold UK in the Tiger purchase transaction. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not June 30, 2022 2021. Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a business combination transaction. Goodwill is tested for impairment on an annual basis during the fourth may first not June 30, 2022 2021. Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not June 30, 2022 2021. Investments and Fair Value of Financial Instruments Equity securities included in short-term investments are classified as available-for-sale securities and debt securities are classified as trading securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. Revenue Recognition Revenue consists of fees earned through management of investment funds in the United States and in the United Kingdom, sales of gourmet meat pies and printing of food wrappers in New Zealand, sales of security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, the revenue recognition criteria described below are met at the time the product is shipped, the subscription period commences, or the management services are provided. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of its recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. The Company has no The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Income. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Consolidated Statements of Income, which for the years ended June 30, 2022 2021, June 30, 2022 June 30, 2021. None Because the Company has no no no Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the years ended June 30, 2022 2021 Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830, Foreign Currency Matters Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries (Refer to Note 16 Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may June 30, 2022 2021 no Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 In August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 470 20 may December 15, 2023, December 15, 2020, not In November 2021, 2021 10, Government Assistance (Topic 832 December 15, 2021, not |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Income Per Share | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3. BASIC AND DILUTED NET INCOME PER SHARE Basic net income per share is based upon the weighted average number of common shares outstanding. This calculation includes the weighted average number of Series B Convertible Preferred shares outstanding also, as they are deemed to be substantially similar to the common shares and shareholders are entitled to the same liquidation and dividend rights. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. The Company does not Basic and diluted net income per share reflects the effects of shares actually potentially issuable upon conversion of convertible preferred stock. The components of basic and diluted earnings per share were as follows: For the year ended June 30, 2022 Net Income Shares Per Share Basic and diluted income per share: Net income available to common shareholders $ 1,116,745 38,047,411 $ 0.03 Net income available to preferred shareholders 28,976 987,200 $ 0.03 Basic and diluted income per share $ 1,145,721 39,034,611 $ 0.03 For the year ended June 30, 2021 Net Income Shares Per Share Basic and diluted income per share: Net income available to common shareholders $ 5,693,262 37,445,919 $ 0.15 Net income available to preferred shareholders 156,181 1,027,240 $ 0.15 Basic and diluted income per share $ 5,849,443 38,473,159 $ 0.15 |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. INVENTORIES Inventories for Marygold, Gourmet Foods, Brigadier and Original Sprout consisted of the following totals: June 30, 2022 June 30, 2021 Raw materials $ 1,273,581 $ 942,911 Supplies and packing materials 195,207 193,322 Finished goods 731,954 815,559 Total inventories $ 2,200,742 $ 1,951,792 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following as of June 30, 2022 2021: June 30, 2022 June 30, 2021 Plant and equipment $ 1,905,921 $ 2,147,617 Furniture and office equipment 254,616 246,697 Land and buildings 590,662 613,891 Vehicles 363,295 412,681 Solar energy system 138,030 - Total property and equipment, gross 3,252,524 3,420,886 Accumulated depreciation (1,860,630 ) (1,847,441 ) Total property and equipment, net $ 1,391,894 $ 1,573,445 For the years ended June 30, 2022 2021, |
Note 6 - Intangible Assets
Note 6 - Intangible Assets | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. INTANGIBLE ASSETS Intangible assets consisted of the following as of June 30, 2022 June 30, 2021: June 30, 2022 June 30, 2021 Customer relationships $ 1,363,935 $ 777,375 Brand name 1,297,789 1,199,965 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Internally developed software 217,990 217,990 Non-compete agreement 274,982 274,982 Total 4,413,210 3,728,826 Less : accumulated amortization (1,704,314 ) (1,387,023 ) Net intangibles $ 2,708,896 $ 2,341,803 CUSTOMER RELATIONSHIP On August 11, 2015, June 2, 2016, December 18, 2017 July 1, 2020, June 20, 2022 June 30, 2022 June 30, 2021 Customer relationships $ 1,363,935 $ 777,375 Less: accumulated amortization (458,550 ) (369,471 ) Total customer relationships, net $ 905,385 $ 407,904 BRAND NAME On August 11, 2015, June 2, 2016, December 18, 2017 may July 1, 2020, no June 20, 2022 no June 30, 2022 June 30, 2021 Brand name $ 1,297,789 $ 1,199,965 Less: accumulated amortization (249,831 ) (209,620 ) Total brand name, net $ 1,047,958 $ 990,345 DOMAIN NAME On August 11, 2015, June 2, 2016, June 30, 2022 June 30, 2021 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (36,913 ) Total brand name, net $ - $ - RECIPES AND FORMULAS On August 11, 2015, December 18, 2017 June 30, 2022 June 30, 2021 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (701,736 ) (551,737 ) Total recipes and formulas, net $ 519,865 $ 669,864 NON-COMPETE AGREEMENT On June 2, 2016, December 18, 2017 June 30, 2022 June 30, 2021 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (257,284 ) (219,282 ) Total non-compete agreement, net $ 17,698 $ 55,700 INTERNALLY DEVELOPED SOFTWARE During the first 2020, June 30, 2022 June 30, 2021, June 30, 2022, AMORTIZATION EXPENSE The total amortization expense for intangible assets for the years ended June 30, 2022 June 30, 2021 Estimated amortization expenses of intangible assets for the next five June 30, Years Ending June 30, Expense 2023 $ 378,543 2024 361,226 2025 345,962 2026 234,194 2027 92,417 Thereafter 1,296,554 Total $ 2,708,896 |
Note 7 - Other Assets
Note 7 - Other Assets | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7. OTHER ASSETS Other Current Assets Other current assets totaling $699,547 as of June 30, 2022 June 30, 2021 As of June 30, 2022 As of June 30, 2021 Prepaid expenses $ 630,285 $ 373,381 Other current assets 69,262 26,143 Total $ 699,547 $ 399,524 Investments USCF Investments, from time to time, provides initial seed capital in connection with the creation of ETPs or ETFs that are managed by USCF or USCF Advisers. USCF Investments classifies these investments as current assets as these investments are generally sold within one no no 825, June 30, 2022 2021, June 30, 2022 2021, June 30, 2022 2021, All of the Company's short-term investments are classified as Level 1 June 30, 2022 June 30, 2021. June 30, 2022 June 30, 2021: As of June 30, 2022 Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value Money market funds $ 1,051,017 $ - $ - $ 1,051,017 Other short-term investments 271,346 - (1,919 ) 269,427 Short-term treasury bills 2,470,020 - (4,156 ) 2,465,864 Other equities 1,246,926 32,697 - 1,279,623 Total short-term investments $ 5,039,309 $ 32,697 $ (6,075 ) $ 5,065,931 As of June 30, 2021 Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value Money market funds $ 1,044,748 $ 5,378 $ - $ 1,050,126 Other short-term investments 772,981 4,568 - 777,549 Other equities 1,421 - (170 ) 1,251 Total short-term investments $ 1,819,150 $ 9,946 $ (170 ) $ 1,828,926 During the years ended June 30, 2022 2021, no 1 2. Restricted Cash At June 30, 2022 2021, NZ $20,000 US$12,486 US$13,989, one At June 30, 2022, £823,768 US$1,000,793 no June 30, 2021. Long - Term Assets Other long-term assets totaling $540,160 at June 30, 2022 $540,160 June 30, 2021, (i) $500,000 as of June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021; (ii) and $40,160 as of June 30, 2022 $40,160 June 30, 2021 |
Note 8 - Goodwill
Note 8 - Goodwill | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | NOTE 8. GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in business combinations. The amounts recorded in goodwill for June 30, 2022 2021 Goodwill is comprised of the following amounts: As of June 30, 2022 As of June 30, 2021 Goodwill – Original Sprout $ 416,817 $ 416,817 Goodwill – Gourmet Foods (1) 275,311 275,311 Goodwill - Brigadier 351,345 351,345 Goodwill - Marygold & Co. (UK) (1) 1,263,729 - Total $ 2,307,202 $ 1,043,473 ( 1 13, Business Combinations June 30, 2022 2021. The Company tests for goodwill impairment at each reporting unit. There was no goodwill impairment for the years ended June 30, 2022 June 30, 2021. |
Note 9 - Accounts Payable and A
Note 9 - Accounts Payable and Accrued Expenses | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: June 30, 2022 June 30, 2021 Accounts payable $ 2,001,978 $ 1,672,647 Accrued interest - 129,596 Taxes payable 196,473 238,020 Accrued payroll, vacation and bonus payable 331,644 1,049,359 Accrued operating expenses 275,695 773,252 Total $ 2,805,790 $ 3,862,874 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10. RELATED PARTY TRANSACTIONS Notes Payable - Related Parties Notes payable totaling $600,000 in principal plus $144,000 in accrued interest were repaid to two June 30, 2022, June 30, 2022 2021 June 30, 2022 2021, USCF Investments - Related Party Transactions The Funds managed by USCF and USCF Advisers are deemed by management to be related parties. The Company’s USCF Investments revenues, totaling $23.8 million and $25.2 million for the years ended June 30, 2022 2021, June 30, 2022 June 30, 2021, June 30, 2022 2021, June 30, 2022 June 30, 2021, 15 June 30, 2022 June 30, 2021, June 30, 2022 June 30, 2021, |
Note 11 - Loans - Property and
Note 11 - Loans - Property and Equipment | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 11. LOANS - PROPERTY AND EQUIPMENT As of June 30, 2022, CD$471,015 US$365,429 June 30, 2022) June 30, 2022 June 30, 2021 twelve US$15,135 US$350,293. June 30, 2022 2021 US $15,742 US $16,078 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12. STOCKHOLDERS' EQUITY Common Stock Issued in Underwritten Offering On March 9, 2022, 1 No. 333 261522 March 9, 2022. Pursuant to the Underwriting Agreement, the public offering price was $2.00 per Share (the "Offering Price"), and the Underwriter purchased the Shares at a 7.0% discount to the public Offering Price. The Company granted the Underwriter the option to purchase, within 45 days from the date of the Underwriting Agreement, an additional 247,500 shares of Common Stock at the same price per share as the Shares (the “Over-Allotment Option”), which the Underwriter exercised in full on March 11, 2022. The Underwriting Agreement includes customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriter, including liabilities under the Securities Act of 1933, not 180 In exchange for the Underwriter’s services, the Company agreed to (i) sell the Common Stock to the Underwriter at a purchase price of $1.86 per share of Common Stock, reflecting the underwriting discount of 7%, and (ii) issue the Underwriter (or its designees) the Warrants to purchase shares of Common Stock equal to 5.0% of the aggregate number of shares of Common Stock sold in the Offering, along with associated registration rights (the “Underwriter’s Warrants”). On March 14, 2022, no March 9, 2022 424 4 Underwriter's Warrants On March 14, 2022, may September 14, 2022, March 14, 2027. no June 30, 2022 Convertible Preferred Stock The Company has 50,000,000 shares authorized to issue as Preferred Stock. The Preferred Stock is designated into two June 30, 2022 Each issued Series B Convertible Preferred Stock is convertible into 20 shares of common stock and carries a vote of 20 January 15, 2021, June 30, 2022. Stock-based Awards - Employees and Vendor Compensation For the year ending June 30, 2022 2021 not 17 There were no shares issued for services during the year ended June 30, 2022 June 30, 2021. |
Note 13 - Business Combinations
Note 13 - Business Combinations | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 13. BUSINESS COMBINATIONS On March 11, 2020 NZ$1.9 90 July 1, 2020 NZ$1.5M NZ$420,552 September 30, 2020. US$68,061 July 1, 2020. Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right-of-use asset 201,699 Property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 On August 17, 2021, £42 June 20, 2022. June 20, 2022 £2,382,372 US$2,913,164 June 30, 2022 approximately£1,018,935 £18,935 20 £500,000 December 31, 2022 December 31, 2023, £500,000 December 31, 2023. no December 31, 2023. US$86,277 Item Amount Cash in bank $ 1,159,020 Prepayments/deposits 17,962 Property and equipment 2,922 Intangible assets 684,768 Goodwill 1,263,729 Tax liability (86,277 ) Deferred tax liability (113,833 ) Accounts payable and accrued expenses (15,127 ) Total Purchase Price $ 2,913,164 Supplemental Pro Forma Information (Unaudited) The following unaudited supplemental pro forma information for the year ended June 30, 2022, July 1, 2021, may not July 1, 2021. not Year Ended June 30, 2022 Year Ended June 30, 2022 Actual Pro Forma Net revenues $ 37,829,123 $ 38,475,091 Net income $ 1,145,721 $ 1,464,172 Basic and diluted earnings per share $ 0.03 $ 0.04 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14. INCOME TAXES The following table summarizes income before income taxes: Years Ended June 30, 2022 2021 U.S. $ 2,067,224 $ 6,983,223 Foreign 290,897 651,678 Income before income taxes $ 2,358,121 $ 7,634,901 Income Tax Provision Provision for income tax as listed on the Consolidated Statements of Income for the years ended June 30, 2022 2021 Provision for taxes consisted of the following: Years Ended June 30, 2022 2021 U.S. operations $ 1,062,895 $ 1,488,351 Foreign operations 149,505 297,107 Total $ 1,212,400 $ 1,785,458 Provisions for income tax consisted of the following as of the years ended: For the year ended: June 30, 2022 June 30, 2021 Current: Federal $ 741,200 $ 1,426,303 States 242,393 122,052 Foreign 177,118 256,195 Total current 1,160,711 1,804,550 Deferred: Federal 69,422 (56,397 ) States 9,880 (3,607 ) Foreign (27,613 ) 40,912 Total deferred 51,689 (19,092 ) Total $ 1,212,400 $ 1,785,458 Tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets for the years ended June 30, 2022 2021 For the year ended: June 30, 2022 June 30, 2021 Deferred tax assets: Property and equipment and intangible assets - U.S. $ 445,629 $ 469,403 Net operating loss 4,904 14,220 Accruals, reserves and other - U.S. 297,521 336,823 Leasing assets 137,756 245,819 Leasing liabilities (132,732 ) (238,789 ) Gross deferred tax assets 753,078 827,476 Less valuation allowance - - Total deferred tax assets $ 753,078 $ 827,476 Deferred tax liabilities: Intangible assets - foreign $ (237,844 ) $ (150,878 ) Accruals, reserves and other - foreign (22,709 ) (18,551 ) Total deferred tax liabilities $ (260,553 ) $ (169,429 ) Total net deferred tax assets $ 492,525 $ 658,047 The Company’s accounting for deferred taxes involves the evaluation of a number of factors concerning the realizability of the Company’s net deferred tax assets. The Company primarily considered such factors as the Company’s history of operating losses; the nature of the Company’s deferred tax assets and the timing, likelihood and amount, if any, of future taxable income during the periods in which those temporary differences and carryforwards become deductible. At present, the Company does believe that it is more likely than not June 30, 2022. On March 27, 2020 not Income tax expense (benefit) for the years ended June 30, 2022 June 30, 2021 For the year ended: June 30, 2022 June 30, 2021 Federal tax expense (benefit) at statutory rate $ 495,287 $ 1,603,764 State income taxes 201,369 92,813 Permanent differences 371,987 17,737 Foreign tax credit (58,413 ) (88,648 ) Change in valuation allowance - - Foreign rate differential 202,170 159,792 Total tax expense $ 1,212,400 $ 1,785,458 For the year ended: June 30, 2022 June 30, 2021 Federal tax expense (benefit) at statutory rate 21.00 % 21.00 % State income taxes 8.54 % 1.22 % Permanent differences * 20.60 % 0.23 % Foreign rate differential 8.57 % 2.09 % Foreign tax credit (2.48 )% (1.16 )% Change in valuation allowance 0 % 0 % Total tax expense 56.23 % 23.38 % * Substantially all of the permanent differences in during the year ended June 30, 2022 Tax positions are evaluated in a two first not not 50% June 30, 2022 2021 Balance at June 30, 2021 $ 302,335 Additions based on tax positions taken during a prior period 12,597 Reductions based on tax positions taken during a prior period - Additions based on tax positions taken during the current period - Reductions based on tax positions taken during the current period - Reductions related to settlement of tax matters - Reductions related to a lapse of applicable statute of limitations - Balance at June 30, 2022 $ 314,932 The Company files income tax returns in the United States, and various state and foreign jurisdictions. The federal, state and foreign income tax returns are subject to tax examinations for the tax years 2018 2021 June 30, 2022. may no June 30, 2022. The Company had $0.3 million of unrecognized tax benefits as of June 30, 2022 2021 not June 30, 2023. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of June 30, 2022, 2021, |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 15. COMMITMENTS AND CONTINGENCIES Lease Commitments The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, accrued expenses, and long-term operating lease liabilities in the Consolidated Balance Sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date. The operating lease right-of-use assets also include any lease payments made at or before the commencement date and are reduced by any lease incentives received. The Company’s lease terms may not not not 12 not The Company’s most significant operating leases are real estate leases of office, warehouse and production facilities. The remaining operating leases are primarily comprised of leases of printers and other equipment which are deemed insignificant. For all operating leases, the Company has elected the practical expedient permitted under Topic 842 The Company has one Fixed lease expense payments are recognized on a straight-line basis over the lease term. Variable lease payments vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time. Certain of the Company’s operating lease agreements include variable payments that are passed through by the landlord, such as insurance, taxes, and common area maintenance. Variable payments are deemed immaterial, expensed as incurred, and included within rent expense under general and administrative expense. The Company leases various facilities and offices throughout the world including the following subsidiary locations: Gourmet Foods has operating leases for its office, factory and warehouse facilities located in Tauranga, New Zealand, and facilities leased by its subsidiary, Printstock, in Napier, New Zealand, as well as for certain equipment including printers and copiers. These leases are generally for three October 2022 October 2026, not June 30, 2022. one December 2031 not US$1,637 June 30, 2022. US$2,558 June 30, 2022. November 30, 2023. December 1, 2021 December 2024. For years ended June 30, 2022 2021, June 30, 2022 Future minimum consolidated lease payments for The Marygold Companies and its subsidiaries are as follows: Year Ended June 30, Operating Leases Finance Lease 2023 $ 714,701 $ 19,644 2024 457,865 19,644 2025 165,331 19,644 2026 152,324 19,644 2027 63,468 19,644 Thereafter - 86,759 Total minimum lease payments 1,553,689 184,979 Less: Present value discount (148,809 ) (54,170 ) Total operating lease liabilities $ 1,404,880 $ 130,809 The weighted average remaining lease term for the Company's operating leases was 3.01 years as of June 30, 2022 Additionally, Gourmet Foods entered into a General Security Agreement in favor of the Gerald O’Leary Family Trust and registered on the Personal Property Securities Register for a priority sum of NZ$110,000 US$68,675 NZ$20,000 US$12,486 Other Agreements and Commitments USCF manages four May 1, 2021 June 30, 2022 2021 no As Marygold builds out its application it enters into agreements with various service providers. As of June 30, 2022, 2023 2024. Litigation From time to time, the Company and its subsidiaries may no may, not Optimum Strategies Action On April 6, 2022, No. 3:22 00511. The Optimum Strategies Action asserts claims under the Securities Exchange Act of 1934, “1934 10b 5 February 2020, March 2020, April 20, 2020, February 2020 May 2020, 19 USCF and USO intend to vigorously contest such claims and have moved for their dismissal. Settlement of SEC and CFTC Investigations On November 8, 2021, one On August 17, 2020, 17 1 17 3 1933, “1933 10 1934 10b 5 Subsequently, on August 19, 2020, 4o 1 6 1 7 6o 1 9 1 2018 4.26, 4.41, 180.1 17 4.26, 4.41, 180.1 2019 On November 8, 2021, 8A 1933 17 3 1933 15 77q 3 April 24, 2020 May 21, 2020, 17 3 1933 Separately, on November 8, 2021, 6 4o 1 7 6o 1 4.41 2 17 4.41 2 April 22, 2020 June 12, 2020, 4o 1 4.41 2 Pursuant to the SEC Order and the CFTC Order, in addition to the command to cease and desist from committing or causing any violations of Section 17 3 1933 4o 1 4.14 2 two million five hundred thousand $2,500,000 one million two hundred fifty thousand $1,250,000 In re: United States Oil Fund, LP Securities Litigation On June 19, 2020, two July 31, 2020 August 13, 2020, In re: United States Oil Fund, LP Securities Litigation, No. 1:20 04740. On November 30, 2020, 1933 1934 10b 5. February 25, 2020 March 23, 2020 April 2020 19 February 25, 2020 April 28, 2020 The lead plaintiff has filed a notice of voluntary dismissal of its claims against BNP Paribas Securities Corporation, Citadel Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities USA LLC, Deutsche Bank Securities Inc., Morgan Stanley & Company, Inc., Nomura Securities International, Inc., RBC Capital Markets, LLC, SG Americas Securities LLC, and UBS Securities LLC. USCF, USO, and the individual defendants in In re: United States Oil Fund, LP Securities Litigation Mehan Action On August 10, 2020, No. RG20070732. The Mehan Action alleges that the defendants breached their fiduciary duties to USO and failed to act in good faith in connection with a March 19, 2020 19 In re: United States Oil Fund, LP Securities Litigation USCF, USO, and the other defendants intend to vigorously contest such claims. In re United States Oil Fund, LP Derivative Litigation On August 27, 2020, two No. 1:20 06974 No. 1:20 06981 The complaints in the Cantrell and AML Actions are nearly identical. They each allege violations of Sections 10 20 21D 1934 10b 5 2020 19 The Court entered and consolidated the Cantrell and AML Actions under the caption In re United States Oil Fund, LP Derivative Litigation No. 1:20 06974 In re United States Oil Fund, LP Derivative Litigation In re: United States Oil Fund, LP Securities Litigation USCF, USO, and the other defendants intend to vigorously contest the claims in I n re United States Oil Fund, LP Derivative Litigation No June 30, 2022 2021. Other Contingencies On December 2, 2021, 10 80 no December 31, 2021, June 30, 2022 Retirement Plan The Marygold Companies, through its wholly owned subsidiary USCF, has a 401 "401K three may 401K June 30, 2022 2021, |
Note 16 - Segment Reporting
Note 16 - Segment Reporting | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16. SEGMENT REPORTING With the acquisition of USCF Investments, Gourmet Foods, Brigadier, and the launch of the Original Sprout business unit of Kahnalytics, the Company has identified four segments for its products and services; U.S.A. investment fund management, U.S.A. beauty products, New Zealand food industry and Canada security alarm systems. Our recently incorporated subsidiary, Marygold, has not not 9 June 30, 2022 nil. third The following table presents a summary of identifiable assets as of June 30, 2022 June 30, 2021: As of June 30, 2022 As of June 30, 2021 Identifiable assets: Corporate headquarters - including Marygold and Marygold UK $ 7,243,332 $ 3,513,008 U.S.A. : investment fund management 18,006,771 17,467,044 U.S.A. : beauty products 3,484,315 4,024,803 New Zealand: food industry 3,983,381 3,831,539 Canada: security systems 2,592,778 2,671,286 Consolidated $ 35,310,577 $ 31,507,680 The following table presents a summary of operating information for the years ended June 30, 2022 June 30, 2021: Year Ended June 30, 2022 Year Ended June 30, 2021 Revenues: U.S.A. : investment fund management - related party $ 23,835,348 $ 25,169,182 U.S.A. : beauty products 3,529,789 3,756,512 New Zealand : food industry 7,930,888 8,263,267 Canada : security systems 2,533,098 2,715,487 Consolidated $ 37,829,123 $ 39,904,448 Net income (loss): U.S.A. : investment fund management - related party $ 7,053,050 $ 9,983,156 U.S.A. : beauty products (187,968 ) (191,857 ) New Zealand : food industry 323,621 469,028 Canada : security systems 246,086 284,151 Corporate headquarters - including Marygold and Marygold UK (6,289,068 ) (4,695,035 ) Consolidated $ 1,145,721 $ 5,849,443 The following table presents a summary of capital expenditures for the year ended June 30,: 2022 2021 Capital expenditures: U.S.A. : beauty products $ 1,717 $ 41,974 New Zealand: food industry (1) 3,153 436,775 U.S.A. : corporate headquarters - including Marygold 2,685 653 Consolidated $ 7,555 $ 479,402 ( 1 13, Business Combinations The following table represents property, plant and equipment in use at each of the Company's locations as of June 30,: 2022 2021 Asset location: U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 60,678 58,961 New Zealand: food industry 2,235,896 2,345,569 Canada: security systems 916,054 998,612 U.S.A. : corporate headquarters - including Marygold 20,429 17,744 U.K: investment fund management 19,467 - Total all locations 3,252,524 3,420,886 Less accumulated depreciation (1,860,630 ) (1,847,441 ) Net property, plant and equipment $ 1,391,894 $ 1,573,445 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 17. SUBSEQUENT EVENTS The Company evaluated subsequent events for recognition and disclosure through the date the consolidated financial statements were issued or filed. Nothing has occurred outside normal operations since that required recognition or disclosure in these financial statements other than the items noted below. On July 25, 2022 two 2021 2023 2027. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 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 income, comprehensive income, 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 accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Consolidation, Policy [Policy Text Block] | 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, USCF Investments, Gourmet Foods, Brigadier, Original Sprout, Marygold and Marygold UK are presented on a consolidated basis. All inter-company transactions and accounts have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | 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. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents includes all cash and highly liquid debt instruments with original maturities of three $250,000 CD$100,000 £85,000. not |
Accounts Receivable [Policy Text Block] | Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net, consist of receivables from the Brigadier, Gourmet Foods, and Original Sprout businesses. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not June 30, 2022 June 30, 2021, Accounts receivable - related parties, consist of fund asset management fees receivable from the USCF Investments business. Management fees receivable generally consist of one June 30, 2022 June 30, 2021, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Major Customers and Suppliers Concentration of Credit Risk The Marygold Companies, as a holding company, operates through its wholly-owned subsidiaries and has no no no June 30, 2022 2021. June 20, 2022 no June 30, 2022. For our subsidiary, USCF Investments, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated 12 June 30, 2022 June 30, 2021 Year ended June 30, 2022 Year ended June 30, 2021 Revenue Revenue Fund USO $ 12,634,794 53 % $ 16,361,870 65 % BNO 2,074,177 9 % 2,665,589 11 % UNG 2,380,912 10 % 2,054,047 8 % USCI 2,266,692 10 % 1,176,094 5 % All Others 4,478,773 18 % 2,911,582 11 % Total $ 23,835,348 100 % $ 25,169,182 100 % June 30, 2022 June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 1,101,495 49 % $ 1,156,691 57 % BNO 192,208 9 % 196,713 10 % USCI 270,796 12 % 141,346 7 % UNG 249,638 11 % 130,543 6 % All Others 416,737 19 % 412,761 20 % Total $ 2,230,874 100 % $ 2,038,054 100 % The Marygold Companies, through Gourmet Foods, and following the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 not 15 Baking: three 1 2 3 no June 30, 2022, June 30, 2021. June 30, 2022 June 30, 2021. second not June 30, 2022 2021. June 30, 2022 2021, In the gasoline convenience store market customer group, Gourmet Foods supplies two June 30, 2022 2021 No June 30, 2022 2021, second June 30, 2022 June 30, 2021. No June 30, 2022 2021, The third no June 30, 2022 2021. Printing: one June 30, 2022 June 30, 2021. No June 30, 2022 2021. Consolidated: June 30, 2022 2021, June 30, 2022 June 30, 2021. Gourmet Foods, including Printstock, is not one The Marygold Companies, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company that provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 52% and 49% of the total Brigadier revenues for the years ended June 30, 2022 June 30, 2021, June 30, 2022 2021. No June 30, 2022, June 30, 2021. Brigadier purchases alarm panels, digital and analog cameras, mounting hardware and accessory items needed to complete security installations from a variety of sources. The manufacture of electronic items such as those sought by Brigadier has expanded to a global scale thus providing Brigadier with a broad choice of suppliers. Brigadier bases its vendor selection on several criteria including: price, availability, shipping costs, quality, suitability for purpose and the technical support of the manufacturer. Brigadier is not one The Marygold Companies, through Original Sprout, sells its products through 3 1 2 3 Original Sprout has thousands of customers and, from time to time, certain of them become significant during specific reporting periods, but may not June 30, 2022 June 30, 2021. June 30, 2022, June 30, 2021. Six none June 30, 2022 June 30, 2021. The Marygold Companies, through Original Sprout, is dependent upon its relationship with a product packaging company who, at the direction of Original Sprout, produces the products in accordance with proprietary formulas, packages them in appropriate containers, and delivers the finished goods to Original Sprout for distribution to its customers. All of Original Sprout’s products are currently produced by this packaging company, although if this relationship were to fail there are other similar packaging companies available to Original Sprout at competitive pricing. Because of the nature of the Original Sprout product ingredients, some of the ingredients may, 90 not not not |
Inventory, Policy [Policy Text Block] | Inventories Inventories, consisting primarily of; (i) food products, printing supplies, and packaging in New Zealand, (ii) hair and skin care finished products and components in the U.S., (iii) security system hardware in Canada, and (iv) printed debit cards and wearables at Marygold are valued at the lower of cost or net realizable value. Inventories in Canada and New Zealand are maintained on the first first June 30, 2022 June 30, 2021, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and leasehold improvements are capitalized. Office furniture and equipment include office fixtures, computers, printers and other office equipment plus software and applicable packaging designs. Leasehold improvements, which are included in plant and equipment, are depreciated over the shorter of the useful life of the improvement and the length of the lease. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight line method over the estimated useful life of the asset (see Note 5 Category Estimated Useful Life (in years) Building 39 Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists along with the internally developed software in process for the business applications of Marygold to be launched during the coming fiscal year, and the U.K. regulatory certification acquired by Marygold UK in the Tiger purchase transaction. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not June 30, 2022 2021. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a business combination transaction. Goodwill is tested for impairment on an annual basis during the fourth may first not June 30, 2022 2021. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not June 30, 2022 2021. |
Investments and Fair Value of Financial Instruments, Policy [Policy Text Block] | Investments and Fair Value of Financial Instruments Equity securities included in short-term investments are classified as available-for-sale securities and debt securities are classified as trading securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. |
Revenue [Policy Text Block] | Revenue Recognition Revenue consists of fees earned through management of investment funds in the United States and in the United Kingdom, sales of gourmet meat pies and printing of food wrappers in New Zealand, sales of security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, the revenue recognition criteria described below are met at the time the product is shipped, the subscription period commences, or the management services are provided. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of its recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. The Company has no The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Income. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Consolidated Statements of Income, which for the years ended June 30, 2022 2021, June 30, 2022 June 30, 2021. None Because the Company has no no no |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 |
Advertising Cost [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the years ended June 30, 2022 2021 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830, Foreign Currency Matters |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries (Refer to Note 16 |
Business Combinations Policy [Policy Text Block] | Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may June 30, 2022 2021 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 In August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 470 20 may December 15, 2023, December 15, 2020, not In November 2021, 2021 10, Government Assistance (Topic 832 December 15, 2021, not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended June 30, 2022 Year ended June 30, 2021 Revenue Revenue Fund USO $ 12,634,794 53 % $ 16,361,870 65 % BNO 2,074,177 9 % 2,665,589 11 % UNG 2,380,912 10 % 2,054,047 8 % USCI 2,266,692 10 % 1,176,094 5 % All Others 4,478,773 18 % 2,911,582 11 % Total $ 23,835,348 100 % $ 25,169,182 100 % June 30, 2022 June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 1,101,495 49 % $ 1,156,691 57 % BNO 192,208 9 % 196,713 10 % USCI 270,796 12 % 141,346 7 % UNG 249,638 11 % 130,543 6 % All Others 416,737 19 % 412,761 20 % Total $ 2,230,874 100 % $ 2,038,054 100 % |
Property, Plant and Equipment, Estimated Useful Life [Table Text Block] | Category Estimated Useful Life (in years) Building 39 Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Note 3 - Basic and Diluted Ne_2
Note 3 - Basic and Diluted Net Income Per Share (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the year ended June 30, 2022 Net Income Shares Per Share Basic and diluted income per share: Net income available to common shareholders $ 1,116,745 38,047,411 $ 0.03 Net income available to preferred shareholders 28,976 987,200 $ 0.03 Basic and diluted income per share $ 1,145,721 39,034,611 $ 0.03 For the year ended June 30, 2021 Net Income Shares Per Share Basic and diluted income per share: Net income available to common shareholders $ 5,693,262 37,445,919 $ 0.15 Net income available to preferred shareholders 156,181 1,027,240 $ 0.15 Basic and diluted income per share $ 5,849,443 38,473,159 $ 0.15 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2022 June 30, 2021 Raw materials $ 1,273,581 $ 942,911 Supplies and packing materials 195,207 193,322 Finished goods 731,954 815,559 Total inventories $ 2,200,742 $ 1,951,792 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2022 June 30, 2021 Plant and equipment $ 1,905,921 $ 2,147,617 Furniture and office equipment 254,616 246,697 Land and buildings 590,662 613,891 Vehicles 363,295 412,681 Solar energy system 138,030 - Total property and equipment, gross 3,252,524 3,420,886 Accumulated depreciation (1,860,630 ) (1,847,441 ) Total property and equipment, net $ 1,391,894 $ 1,573,445 |
Note 6 - Intangible Assets (Tab
Note 6 - Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | June 30, 2022 June 30, 2021 Customer relationships $ 1,363,935 $ 777,375 Brand name 1,297,789 1,199,965 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Internally developed software 217,990 217,990 Non-compete agreement 274,982 274,982 Total 4,413,210 3,728,826 Less : accumulated amortization (1,704,314 ) (1,387,023 ) Net intangibles $ 2,708,896 $ 2,341,803 June 30, 2022 June 30, 2021 Customer relationships $ 1,363,935 $ 777,375 Less: accumulated amortization (458,550 ) (369,471 ) Total customer relationships, net $ 905,385 $ 407,904 June 30, 2022 June 30, 2021 Brand name $ 1,297,789 $ 1,199,965 Less: accumulated amortization (249,831 ) (209,620 ) Total brand name, net $ 1,047,958 $ 990,345 June 30, 2022 June 30, 2021 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (36,913 ) Total brand name, net $ - $ - June 30, 2022 June 30, 2021 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (701,736 ) (551,737 ) Total recipes and formulas, net $ 519,865 $ 669,864 June 30, 2022 June 30, 2021 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (257,284 ) (219,282 ) Total non-compete agreement, net $ 17,698 $ 55,700 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, Expense 2023 $ 378,543 2024 361,226 2025 345,962 2026 234,194 2027 92,417 Thereafter 1,296,554 Total $ 2,708,896 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | As of June 30, 2022 As of June 30, 2021 Prepaid expenses $ 630,285 $ 373,381 Other current assets 69,262 26,143 Total $ 699,547 $ 399,524 |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | As of June 30, 2022 Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value Money market funds $ 1,051,017 $ - $ - $ 1,051,017 Other short-term investments 271,346 - (1,919 ) 269,427 Short-term treasury bills 2,470,020 - (4,156 ) 2,465,864 Other equities 1,246,926 32,697 - 1,279,623 Total short-term investments $ 5,039,309 $ 32,697 $ (6,075 ) $ 5,065,931 As of June 30, 2021 Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value Money market funds $ 1,044,748 $ 5,378 $ - $ 1,050,126 Other short-term investments 772,981 4,568 - 777,549 Other equities 1,421 - (170 ) 1,251 Total short-term investments $ 1,819,150 $ 9,946 $ (170 ) $ 1,828,926 |
Note 8 - Goodwill (Tables)
Note 8 - Goodwill (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | As of June 30, 2022 As of June 30, 2021 Goodwill – Original Sprout $ 416,817 $ 416,817 Goodwill – Gourmet Foods (1) 275,311 275,311 Goodwill - Brigadier 351,345 351,345 Goodwill - Marygold & Co. (UK) (1) 1,263,729 - Total $ 2,307,202 $ 1,043,473 |
Note 9 - Accounts Payable and_2
Note 9 - Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2022 June 30, 2021 Accounts payable $ 2,001,978 $ 1,672,647 Accrued interest - 129,596 Taxes payable 196,473 238,020 Accrued payroll, vacation and bonus payable 331,644 1,049,359 Accrued operating expenses 275,695 773,252 Total $ 2,805,790 $ 3,862,874 |
Note 13 - Business Combinatio_2
Note 13 - Business Combinations (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right-of-use asset 201,699 Property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 Item Amount Cash in bank $ 1,159,020 Prepayments/deposits 17,962 Property and equipment 2,922 Intangible assets 684,768 Goodwill 1,263,729 Tax liability (86,277 ) Deferred tax liability (113,833 ) Accounts payable and accrued expenses (15,127 ) Total Purchase Price $ 2,913,164 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended June 30, 2022 Year Ended June 30, 2022 Actual Pro Forma Net revenues $ 37,829,123 $ 38,475,091 Net income $ 1,145,721 $ 1,464,172 Basic and diluted earnings per share $ 0.03 $ 0.04 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended June 30, 2022 2021 U.S. $ 2,067,224 $ 6,983,223 Foreign 290,897 651,678 Income before income taxes $ 2,358,121 $ 7,634,901 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended June 30, 2022 2021 U.S. operations $ 1,062,895 $ 1,488,351 Foreign operations 149,505 297,107 Total $ 1,212,400 $ 1,785,458 For the year ended: June 30, 2022 June 30, 2021 Current: Federal $ 741,200 $ 1,426,303 States 242,393 122,052 Foreign 177,118 256,195 Total current 1,160,711 1,804,550 Deferred: Federal 69,422 (56,397 ) States 9,880 (3,607 ) Foreign (27,613 ) 40,912 Total deferred 51,689 (19,092 ) Total $ 1,212,400 $ 1,785,458 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | For the year ended: June 30, 2022 June 30, 2021 Deferred tax assets: Property and equipment and intangible assets - U.S. $ 445,629 $ 469,403 Net operating loss 4,904 14,220 Accruals, reserves and other - U.S. 297,521 336,823 Leasing assets 137,756 245,819 Leasing liabilities (132,732 ) (238,789 ) Gross deferred tax assets 753,078 827,476 Less valuation allowance - - Total deferred tax assets $ 753,078 $ 827,476 Deferred tax liabilities: Intangible assets - foreign $ (237,844 ) $ (150,878 ) Accruals, reserves and other - foreign (22,709 ) (18,551 ) Total deferred tax liabilities $ (260,553 ) $ (169,429 ) Total net deferred tax assets $ 492,525 $ 658,047 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the year ended: June 30, 2022 June 30, 2021 Federal tax expense (benefit) at statutory rate $ 495,287 $ 1,603,764 State income taxes 201,369 92,813 Permanent differences 371,987 17,737 Foreign tax credit (58,413 ) (88,648 ) Change in valuation allowance - - Foreign rate differential 202,170 159,792 Total tax expense $ 1,212,400 $ 1,785,458 For the year ended: June 30, 2022 June 30, 2021 Federal tax expense (benefit) at statutory rate 21.00 % 21.00 % State income taxes 8.54 % 1.22 % Permanent differences * 20.60 % 0.23 % Foreign rate differential 8.57 % 2.09 % Foreign tax credit (2.48 )% (1.16 )% Change in valuation allowance 0 % 0 % Total tax expense 56.23 % 23.38 % |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Balance at June 30, 2021 $ 302,335 Additions based on tax positions taken during a prior period 12,597 Reductions based on tax positions taken during a prior period - Additions based on tax positions taken during the current period - Reductions based on tax positions taken during the current period - Reductions related to settlement of tax matters - Reductions related to a lapse of applicable statute of limitations - Balance at June 30, 2022 $ 314,932 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Lease Liability, Maturity [Table Text Block] | Year Ended June 30, Operating Leases Finance Lease 2023 $ 714,701 $ 19,644 2024 457,865 19,644 2025 165,331 19,644 2026 152,324 19,644 2027 63,468 19,644 Thereafter - 86,759 Total minimum lease payments 1,553,689 184,979 Less: Present value discount (148,809 ) (54,170 ) Total operating lease liabilities $ 1,404,880 $ 130,809 |
Note 16 - Segment Reporting (Ta
Note 16 - Segment Reporting (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | As of June 30, 2022 As of June 30, 2021 Identifiable assets: Corporate headquarters - including Marygold and Marygold UK $ 7,243,332 $ 3,513,008 U.S.A. : investment fund management 18,006,771 17,467,044 U.S.A. : beauty products 3,484,315 4,024,803 New Zealand: food industry 3,983,381 3,831,539 Canada: security systems 2,592,778 2,671,286 Consolidated $ 35,310,577 $ 31,507,680 2022 2021 Asset location: U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 60,678 58,961 New Zealand: food industry 2,235,896 2,345,569 Canada: security systems 916,054 998,612 U.S.A. : corporate headquarters - including Marygold 20,429 17,744 U.K: investment fund management 19,467 - Total all locations 3,252,524 3,420,886 Less accumulated depreciation (1,860,630 ) (1,847,441 ) Net property, plant and equipment $ 1,391,894 $ 1,573,445 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Year Ended June 30, 2022 Year Ended June 30, 2021 Revenues: U.S.A. : investment fund management - related party $ 23,835,348 $ 25,169,182 U.S.A. : beauty products 3,529,789 3,756,512 New Zealand : food industry 7,930,888 8,263,267 Canada : security systems 2,533,098 2,715,487 Consolidated $ 37,829,123 $ 39,904,448 Net income (loss): U.S.A. : investment fund management - related party $ 7,053,050 $ 9,983,156 U.S.A. : beauty products (187,968 ) (191,857 ) New Zealand : food industry 323,621 469,028 Canada : security systems 246,086 284,151 Corporate headquarters - including Marygold and Marygold UK (6,289,068 ) (4,695,035 ) Consolidated $ 1,145,721 $ 5,849,443 2022 2021 Capital expenditures: U.S.A. : beauty products $ 1,717 $ 41,974 New Zealand: food industry (1) 3,153 436,775 U.S.A. : corporate headquarters - including Marygold 2,685 653 Consolidated $ 7,555 $ 479,402 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 4,350 | $ 15,499 | |
Allowance for Doubtful Accounts Receivable, Related Parties | 0 | 0 | |
Inventory Write-down | 10,509 | 65,021 | |
Impairment of Intangible Assets, Finite-Lived | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |
Impairment, Long-Lived Asset, Held-for-Use, Total | 0 | 0 | |
Advertising Expense | 3,000,000 | 3,000,000 | |
Security Alarm Monitoring Customer Support Services [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 399,322 | $ 723,456 | |
Percentage of Total Revenue from Services Under Contract Recognized As Provided | 16% | 27% | |
Percentage of Consolidated Revenue from Services Under Contract, Recognized As Provided | 1% | 2% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Major Customers | 3 | ||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | |||
Concentration Risk, Percentage | 32% | 32% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | |||
Concentration Risk, Percentage | 22% | 18% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | |||
Concentration Risk, Percentage | 50% | 49% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||
Concentration Risk, Percentage | 37% | 33% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 2 [Member] | |||
Concentration Risk, Percentage | 14% | 12% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 2 [Member] | Gasoline Convenience Store Sector [Member] | |||
Concentration Risk, Percentage | 8% | 9% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 3 [Member] | |||
Concentration Risk, Percentage | 13% | 12% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | |||
Concentration Risk, Percentage | 7% | 8% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | |||
Concentration Risk, Percentage | 25% | 19% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | |||
Concentration Risk, Percentage | 21% | 22% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||
Concentration Risk, Percentage | 39% | 40% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | |||
Concentration Risk, Percentage | 8% | 7% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | |||
Concentration Risk, Percentage | 26% | 27% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | Gasoline Convenience Store Sector [Member] | |||
Concentration Risk, Percentage | 23% | 23% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 3 [Member] | |||
Concentration Risk, Percentage | 26% | 26% | |
Brigadier [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Concentration Risk, Percentage | 52% | 49% | |
Brigadier [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 2 [Member] | |||
Concentration Risk, Percentage | 12% | ||
Brigadier [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Concentration Risk, Percentage | 31% | ||
Brigadier [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | |||
Concentration Risk, Percentage | 39% | ||
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | |||
Concentration Risk, Percentage | 11% | 4% | |
Number of Major Customers | 1 | ||
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Domestic Customer [Member] | |||
Concentration Risk, Percentage | 12% | ||
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Major Customers | 6 | 6 | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | |||
Concentration Risk, Percentage | 19% | 15% | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | |||
Concentration Risk, Percentage | 16% | 30% | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 3 [Member] | |||
Concentration Risk, Percentage | 15% | 6% | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 4 [Member] | |||
Concentration Risk, Percentage | 13% | 7% | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 5 [Member] | |||
Concentration Risk, Percentage | 12% | 17% | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 6 [Member] | |||
Concentration Risk, Percentage | 11% | 11% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue, related parties | $ 23,835,348 | $ 25,169,182 | ||
Revenue, related parties | $ 23,835,348 | $ 25,169,182 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | ||||
Revenue, related parties | $ 23,835,348 | $ 25,169,182 | ||
Concentration risk percentage | 100% | 100% | ||
Revenue, related parties | $ 23,835,348 | $ 25,169,182 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | ||||
Revenue, related parties | $ 12,634,794 | $ 16,361,870 | ||
Concentration risk percentage | 53% | 65% | ||
Revenue, related parties | $ 12,634,794 | $ 16,361,870 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | ||||
Revenue, related parties | $ 2,074,177 | $ 2,665,589 | ||
Concentration risk percentage | 9% | 11% | ||
Revenue, related parties | $ 2,074,177 | $ 2,665,589 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||||
Revenue, related parties | $ 2,380,912 | $ 2,054,047 | ||
Concentration risk percentage | 10% | 8% | ||
Revenue, related parties | $ 2,380,912 | $ 2,054,047 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | ||||
Revenue, related parties | $ 2,266,692 | $ 1,176,094 | ||
Concentration risk percentage | 10% | 5% | ||
Revenue, related parties | $ 2,266,692 | $ 1,176,094 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | All Other Customers [Member] | ||||
Revenue, related parties | $ 4,478,773 | $ 2,911,582 | ||
Concentration risk percentage | 18% | 11% | ||
Revenue, related parties | $ 4,478,773 | $ 2,911,582 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | ||||
Revenue, related parties | $ 2,230,874 | $ 2,038,054 | ||
Concentration risk percentage | 100% | 100% | ||
Revenue, related parties | $ 2,230,874 | $ 2,038,054 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | ||||
Revenue, related parties | $ 1,101,495 | $ 1,156,691 | ||
Concentration risk percentage | 49% | 57% | ||
Revenue, related parties | $ 1,101,495 | $ 1,156,691 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | ||||
Revenue, related parties | $ 192,208 | $ 196,713 | ||
Concentration risk percentage | 9% | 10% | ||
Revenue, related parties | $ 192,208 | $ 196,713 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||||
Revenue, related parties | $ 249,638 | $ 130,543 | ||
Concentration risk percentage | 11% | 6% | ||
Revenue, related parties | $ 249,638 | $ 130,543 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | ||||
Revenue, related parties | $ 270,796 | $ 141,346 | ||
Concentration risk percentage | 12% | 7% | ||
Revenue, related parties | $ 270,796 | $ 141,346 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | ||||
Revenue, related parties | $ 416,737 | $ 412,761 | ||
Concentration risk percentage | 19% | 20% | ||
Revenue, related parties | $ 416,737 | $ 412,761 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Building [Member] | |
Property, plant, and equipment, useful life (Year) | 39 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Vehicles [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Vehicles [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 3 - Basic and Diluted Ne_3
Note 3 - Basic and Diluted Net Income Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income available to common shareholders | $ 1,116,745 | $ 5,693,262 | ||
Net income available to common shareholders (in shares) | 38,047,411 | |||
Net income available to common shareholders (in dollars per share) | $ 0.03 | $ 0.15 | $ 0.03 | $ 0.15 |
Net income available to preferred shareholders | $ 28,976 | $ 156,181 | ||
Net income available to preferred shareholders (in shares) | 987,200 | 1,027,240 | ||
Net income available to preferred shareholders (in dollars per share) | $ 0.03 | $ 0.15 | ||
Basic and diluted income per share | $ 1,145,721 | |||
Basic and diluted income per share (in shares) | 39,034,611 | 38,473,159 | ||
Basic and diluted income per share (in dollars per share) | $ 0.03 | $ 0.15 | ||
Net income available to common shareholders (in shares) | 39,034,611 | 38,473,159 | 37,445,919 | |
Basic and diluted income per share | $ 1,145,721 | $ 5,849,443 | $ 1,145,721 | $ 5,849,443 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | |
Raw materials | $ 1,273,581 | $ 942,911 | |
Supplies and packing materials | 195,207 | 193,322 | |
Finished goods | 731,954 | 815,559 | |
Total inventories | $ 2,200,742 | $ 1,951,792 | [1] |
[1]Derived from audited financial statements |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Depreciation, Total | $ 243,295 | $ 265,531 |
Note 5 - Property, Plant and _4
Note 5 - Property, Plant and Equipment - Property and Equipment Summary (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | |
Solar energy system | $ 138,030 | $ 0 | |
Total property and equipment, gross | 3,252,524 | 3,420,886 | |
Accumulated depreciation | (1,860,630) | (1,847,441) | |
Total property and equipment, net | 1,391,894 | 1,573,445 | [1] |
Plant and Equipment [Member] | |||
Plant and equipment, gross | 1,905,921 | 2,147,617 | |
Furniture and Fixtures [Member] | |||
Plant and equipment, gross | 254,616 | 246,697 | |
Land and Building [Member] | |||
Plant and equipment, gross | 590,662 | 613,891 | |
Vehicles [Member] | |||
Plant and equipment, gross | $ 363,295 | $ 412,681 | |
[1]Derived from audited financial statements |
Note 6 - Intangible Assets (Det
Note 6 - Intangible Assets (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | |||||||
Jun. 20, 2022 | Jul. 01, 2020 | Dec. 18, 2017 | Jun. 02, 2016 | Aug. 11, 2015 | Mar. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Finite-Lived Intangible Assets, Gross, Total | $ 4,413,210 | $ 3,728,826 | |||||||
Amortization of Intangible Assets | 317,675 | 334,448 | |||||||
Customer Relationships [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,363,935 | 777,375 | |||||||
Brand Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,297,789 | 1,199,965 | |||||||
Domain Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 36,913 | 36,913 | |||||||
Recipes [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,221,601 | 1,221,601 | |||||||
Noncompete Agreements [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 274,982 | 274,982 | |||||||
Marygold Properties [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | $ 217,990 | $ 217,990 | $ 217,990 | ||||||
Amortization of Intangible Assets | $ 0 | ||||||||
Gourmet Foods Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 66,153 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 61,429 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Gourmet Foods Acquisition [Member] | Recipes [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 434,099 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 340,694 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 15,312 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Noncompete Agreements [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 84,982 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
The Original Sprout LLC [Member] | Customer Relationships [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years | ||||||||
The Original Sprout LLC [Member] | Brand Name [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 740,000 | ||||||||
The Original Sprout LLC [Member] | Recipes [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 1,200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 8 years | ||||||||
The Original Sprout LLC [Member] | Noncompete Agreements [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 190,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Printstock Products Ltd. [Member] | Customer Relationships [Member] | Gourmet Foods [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 77,123 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 9 years | ||||||||
Printstock Products Ltd. [Member] | Brand Name [Member] | Gourmet Foods [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 57,842 | ||||||||
Tiger Financial and Asset Management Limited [Member] | Customer Relationships [Member] | Marygold & Co. (UK) Limited [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 587,328 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years | ||||||||
Tiger Financial and Asset Management Limited [Member] | Trade Names [Member] | Marygold & Co. (UK) Limited [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 24,456 | ||||||||
Tiger Financial and Asset Management Limited [Member] | Regulatory Business Certification [Member] | Marygold & Co. (UK) Limited [Member] | |||||||||
Finite-lived Intangible Assets Acquired | 73,368 | ||||||||
Tiger Financial and Asset Management Limited [Member] | Trade Name and Regulatory Business Certification [Member] | Marygold & Co. (UK) Limited [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 97,824 |
Note 6 - Intangible Assets - Su
Note 6 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Finite-lived intangible assets, gross | $ 4,413,210 | $ 3,728,826 | |
Less : accumulated amortization | (1,704,314) | (1,387,023) | |
Net intangibles | 2,708,896 | 2,341,803 | |
Finite-Lived Intangible Assets, Gross, Total | 4,413,210 | 3,728,826 | |
Domain Name [Member] | |||
Finite-lived intangible assets, gross | 36,913 | 36,913 | |
Less : accumulated amortization | (36,913) | (36,913) | |
Net intangibles | 0 | 0 | |
Finite-Lived Intangible Assets, Gross, Total | 36,913 | 36,913 | |
Customer Relationships [Member] | |||
Finite-lived intangible assets, gross | 1,363,935 | 777,375 | |
Less : accumulated amortization | (458,550) | (369,471) | |
Net intangibles | 905,385 | 407,904 | |
Finite-Lived Intangible Assets, Gross, Total | 1,363,935 | 777,375 | |
Brand Name [Member] | |||
Finite-lived intangible assets, gross | 1,297,789 | 1,199,965 | |
Less : accumulated amortization | (249,831) | (209,620) | |
Net intangibles | 1,047,958 | 990,345 | |
Finite-Lived Intangible Assets, Gross, Total | 1,297,789 | 1,199,965 | |
Recipes [Member] | |||
Finite-lived intangible assets, gross | 1,221,601 | 1,221,601 | |
Less : accumulated amortization | (701,736) | (551,737) | |
Net intangibles | 519,865 | 669,864 | |
Finite-Lived Intangible Assets, Gross, Total | 1,221,601 | 1,221,601 | |
Noncompete Agreements [Member] | |||
Finite-lived intangible assets, gross | 274,982 | 274,982 | |
Less : accumulated amortization | (257,284) | (219,282) | |
Net intangibles | 17,698 | 55,700 | |
Finite-Lived Intangible Assets, Gross, Total | 274,982 | 274,982 | |
Marygold Properties [Member] | |||
Finite-lived intangible assets, gross | 217,990 | 217,990 | $ 217,990 |
Finite-Lived Intangible Assets, Gross, Total | $ 217,990 | $ 217,990 | $ 217,990 |
Note 6 - Intangible Assets - Sc
Note 6 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
2023 | $ 378,543 | |
2024 | 361,226 | |
2025 | 345,962 | |
2026 | 234,194 | |
2027 | 92,417 | |
Thereafter | 1,296,554 | |
Net intangibles | $ 2,708,896 | $ 2,341,803 |
Note 7 - Other Assets (Details
Note 7 - Other Assets (Details Textual) | 12 Months Ended | |||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 NZD ($) | Jun. 30, 2022 GBP (£) | Jun. 30, 2021 NZD ($) | ||
Other Assets, Current | $ 699,547 | $ 399,524 | [1] | |||
Unrealized Gain (Loss) on Investments | 28,474 | 582 | ||||
Marketable Securities, Total | 5,100,000 | 1,800,000 | ||||
Other Assets, Noncurrent | 540,160 | 540,160 | [1] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 500,000 | 500,000 | ||||
Equity Securities without Readily Determinable Fair Value, Ownership Percentage | 10% | 10% | 10% | |||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | $ 0 | 0 | ||||
Deposit Assets, Total | 40,160 | 40,160 | ||||
Gourmet Foods [Member] | ||||||
Restricted Cash and Cash Equivalents, Total | 12,486 | 13,989 | $ 20,000 | $ 20,000 | ||
Marygold & Co. (UK) Limited [Member] | ||||||
Restricted Cash and Cash Equivalents, Total | 1,000,793 | £ 823,768 | ||||
USCF Gold Strategy Plus Income Fund [Member] | USCF and USCF Advisers [Member] | ||||||
Investments, Total | 1,300,000 | 0 | ||||
Exchange Traded Funds [Member] | USCF Gold Strategy Plus Income Fund [Member] | USCF and USCF Advisers [Member] | ||||||
Investments, Total | 1,300,000 | 0 | ||||
Unrealized Gain (Loss) on Investments | $ 33,000 | $ 0 | ||||
[1]Derived from audited financial statements |
Note 7 - Other Assets - Compone
Note 7 - Other Assets - Components of Other Current Assets (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | |
Prepaid expenses | $ 630,285 | $ 373,381 | |
Other current assets | 69,262 | 26,143 | |
Total | $ 699,547 | $ 399,524 | [1] |
[1]Derived from audited financial statements |
Note 7 - Other Assets - Investm
Note 7 - Other Assets - Investments (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Investments, cost | $ 5,039,309 | $ 1,819,150 |
Investments, gross unrealized gains | 32,697 | 9,946 |
Investments, gross unrealized losses | (6,075) | (170) |
Investments | 5,065,931 | 1,828,926 |
Short-term treasury bills | 5,065,931 | 1,828,926 |
Money Market Funds [Member] | ||
Investments, cost | 1,051,017 | 1,044,748 |
Investments, gross unrealized gains | 0 | 5,378 |
Investments, gross unrealized losses | 0 | 0 |
Investments | 1,051,017 | 1,050,126 |
Short-term treasury bills | 1,051,017 | 1,050,126 |
Other Short Term Investments [Member] | ||
Investments, cost | 271,346 | 772,981 |
Investments, gross unrealized gains | 0 | 4,568 |
Investments, gross unrealized losses | (1,919) | 0 |
Investments | 269,427 | 777,549 |
Short-term treasury bills | 269,427 | 777,549 |
Other Equities [Member] | ||
Investments, cost | 1,246,926 | 1,421 |
Investments, gross unrealized gains | 32,697 | 0 |
Investments, gross unrealized losses | 0 | (170) |
Investments | 1,279,623 | 1,251 |
Short-term treasury bills | 1,279,623 | $ 1,251 |
US Treasury and Government Short-Term Debt Securities [Member] | ||
Investments, cost | 2,470,020 | |
Investments, gross unrealized gains | 0 | |
Investments, gross unrealized losses | (4,156) | |
Investments | 2,465,864 | |
Short-term treasury bills | $ 2,465,864 |
Note 8 - Goodwill (Details Text
Note 8 - Goodwill (Details Textual) - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | ||
Goodwill, Ending Balance | $ 2,307,202 | $ 1,043,473 | [1] |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
[1]Derived from audited financial statements |
Note 8 - Goodwill - Summary of
Note 8 - Goodwill - Summary of Goodwill (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | ||
Goodwill | $ 2,307,202 | $ 1,043,473 | [1] | |
The Original Sprout LLC [Member] | ||||
Goodwill | 416,817 | 416,817 | ||
Gourmet Foods [Member] | ||||
Goodwill | 275,311 | 275,311 | ||
Brigadier [Member] | ||||
Goodwill | 351,345 | 351,345 | ||
Marygold & Co. (UK) Limited [Member] | ||||
Goodwill | [2] | $ 1,263,729 | $ 0 | |
[1]Derived from audited financial statements[2]Refer to Note 13, Business Combinations, regarding increase in goodwill during the years ended June 30, 2022 and 2021. |
Note 9 - Accounts Payable and_3
Note 9 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | |
Accounts payable | $ 2,001,978 | $ 1,672,647 | |
Accrued interest | 0 | 129,596 | |
Taxes payable | 196,473 | 238,020 | |
Accrued payroll, vacation and bonus payable | 331,644 | 1,049,359 | |
Accrued operating expenses | 275,695 | 773,252 | |
Total | $ 2,805,790 | $ 3,862,874 | [1] |
[1]Derived from audited financial statements |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Repayments of Related Party Debt | $ 603,500 | $ 0 | ||
Notes Payable, Related Parties | $ 0 | 0 | ||
Interest Expense, Related Party | 19,798 | 24,281 | ||
Accrued Interest, Related Parties | 0 | $ 129,596 | 0 | 129,596 |
Revenue from Related Parties | 23,835,348 | 25,169,182 | ||
Two Shareholders [Member] | ||||
Repayments of Related Party Debt | 600,000 | |||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | 144,000 | |||
USCF and USCF Advisers [Member] | ||||
Revenue from Related Parties | 23,800,000 | 25,200,000 | ||
Accounts Receivable, Related Parties | 2,200,000 | 2,000,000 | 2,200,000 | 2,000,000 |
Expense Waiver Funds, Related Party | 100,000 | 900,000 | ||
Fund Expense Limitation Amount, Related Party | 100,000 | 100,000 | ||
Waivers Payable, Related Party | 100,000 | 100,000 | 100,000 | 100,000 |
USCF and USCF Advisers [Member] | USCF Gold Strategy Plus Income Fund [Member] | ||||
Investments, Total | $ 1,300,000 | $ 0 | $ 1,300,000 | $ 0 |
Percentage of Outstanding Shares of Investment | 40% | 0% | 40% | 0% |
Note 11 - Loans - Property an_2
Note 11 - Loans - Property and Equipment (Details Textual) | 12 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 CAD ($) | ||
Notes Payable, Current, Total | $ 33,496 | $ 15,094 | [1] | |
Notes Payable, Noncurrent, Total | 459,178 | 379,804 | [1] | |
Note Payable on Office Land and Building [Member] | ||||
Notes Payable, Total | 365,429 | $ 471,015 | ||
Notes Payable, Current, Total | 15,135 | 15,135 | ||
Notes Payable, Noncurrent, Total | 350,293 | 350,293 | ||
Interest Expense, Debt, Total | $ 15,742 | $ 16,078 | ||
[1]Derived from audited financial statements |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - USD ($) | 12 Months Ended | ||||||
Mar. 14, 2022 | Mar. 11, 2022 | Mar. 09, 2022 | Jan. 15, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | |||||
Stock Issued During Period, Value, New Issues | $ 2,984,260 | ||||||
Preferred Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | |||||
Preferred Stock, Shares Issued (in shares) | 49,360 | 49,360 | |||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 49,360 | 49,360 | |||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 0 | 0 | |||||
Omnibus Equity Incentive Plan 2021 [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 0 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 0 | ||||||
Series A Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | ||||||
Preferred Stock, Shares Issued (in shares) | 0 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | ||||||
Series B Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 45,000,000 | ||||||
Series B Convertible Preferred Stock [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 20 | ||||||
Conversion of Stock, Shares Converted (in shares) | 3,672 | ||||||
Conversion of Stock, Shares Issued (in shares) | 73,440 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 49,360 | ||||||
The Underwriter’s Warrants [Member] | |||||||
Class of Warrant or Right, Percentage of Aggregate Shares Sold | 5% | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 82,500 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.40 | ||||||
Class of Warrant or Right, Exercise Price, Percentage of Offering Price | 120% | ||||||
Warrants and Rights Outstanding | $ 132,000 | ||||||
The Underwriter’s Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.0210 | ||||||
The Underwriter’s Warrants [Member] | Measurement Input, Expected Term [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 5 | ||||||
The Underwriter’s Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||
The Underwriter’s Warrants [Member] | Measurement Input, Price Volatility [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 1.17 | ||||||
Underwritten Public Offering [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,897,500 | 1,650,000 | |||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 2 | ||||||
Stock Issued During Period, Value, New Issues | $ 3,795,000 | ||||||
Underwritten Public Offering [Member] | Underwriting Discounts [Member] | |||||||
Payments of Stock Issuance Costs | 265,650 | ||||||
Underwritten Public Offering [Member] | Estimated Offering Expenses [Member] | |||||||
Payments of Stock Issuance Costs | $ 545,090 | ||||||
Over-Allotment Option [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 247,500 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.86 | ||||||
Shares Issued, Price Per Share, Discount Rate | 7% | 7% | |||||
Stock Issued During Period, Option to Purchase Additional Shares, Period of Recognition (Day) | 45 days |
Note 13 - Business Combinatio_3
Note 13 - Business Combinations (Details Textual) | Aug. 17, 2021 USD ($) | Aug. 17, 2021 GBP (£) | Dec. 31, 2020 NZD ($) | Jul. 01, 2020 NZD ($) | Jun. 30, 2022 GBP (£) | Oct. 05, 2020 USD ($) | Jul. 01, 2020 USD ($) |
Gourmet Foods [Member] | Printstock Products Ltd. [Member] | |||||||
Business Combination, Consideration Transferred, Total | $ | $ 1,900,000 | ||||||
Payments to Acquire Businesses, Gross | $ | $ 420,552 | $ 1,500,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | $ | $ 68,061 | $ 68,061 | |||||
Marygold & Co. (UK) Limited [Member] | Tiger Financial and Asset Management Limited [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | $ | $ 113,833 | ||||||
Assets under Management, Carrying Amount | £ 42,000,000 | ||||||
Business Combination, Price of Acquisition, Expected | 2,913,164 | £ 2,382,372 | |||||
Business Combination, Consideration Payable | 1,018,935 | ||||||
Business Combination, Consideration Payable, Twenty Days After Closing | 18,935 | ||||||
Business Combination, Consideration Transferred, Subsequent Payments | 500,000 | ||||||
Business Combination, Consideration Arrangements, Maximum Downward Adjustment, Liability | 500,000 | ||||||
Business Combination, Consideration Arrangements, Maximum Upward Adjustment, Liability | £ 0 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax Liability | $ | $ 86,277 |
Note 13 - Business Combinatio_4
Note 13 - Business Combinations - Acquisition of Assets and Liabilities Assumed (Details) - USD ($) | Jun. 30, 2022 | Aug. 17, 2021 | Jun. 30, 2021 | [1] | Oct. 05, 2020 | Jul. 01, 2020 |
Goodwill | $ 2,307,202 | $ 1,043,473 | ||||
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | ||||||
Cash in bank | $ 118,774 | |||||
Accounts receivable | 384,222 | |||||
Prepayments/deposits | 1,372 | |||||
Inventories | 509,796 | |||||
Operating lease right-of-use asset | 201,699 | |||||
Property and equipment | 401,681 | |||||
Intangible assets | 134,965 | |||||
Goodwill | 127,683 | |||||
Deferred tax liability | $ (68,061) | (68,061) | ||||
Assumed lease liabilities | (201,699) | |||||
Accounts payable and accrued expenses | (376,112) | |||||
Total Purchase Price | $ 1,234,320 | |||||
Tiger Financial and Asset Management Limited [Member] | Marygold & Co. (UK) Limited [Member] | ||||||
Cash in bank | $ 1,159,020 | |||||
Prepayments/deposits | 17,962 | |||||
Property and equipment | 2,922 | |||||
Intangible assets | 684,768 | |||||
Goodwill | 1,263,729 | |||||
Deferred tax liability | (113,833) | |||||
Accounts payable and accrued expenses | (15,127) | |||||
Total Purchase Price | 2,913,164 | |||||
Tax liability | $ (86,277) | |||||
[1]Derived from audited financial statements |
Note 13 - Business Combinatio_5
Note 13 - Business Combinations - Pro Forma Information (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Basic and diluted earnings per share (in dollars per share) | $ 0.03 | $ 0.15 | $ 0.03 | $ 0.15 |
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | ||||
Net revenues | $ 37,829,123 | |||
Net revenues | 38,475,091 | |||
Net income | 1,145,721 | |||
Net income | $ 1,464,172 | |||
Basic and diluted earnings per share (in dollars per share) | $ 0.03 | |||
Basic and diluted earnings per share (in dollars per share) | $ 0.04 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Expense (Benefit), Total | $ 1,212,400 | $ 1,785,458 | $ 1,212,400 | $ 1,785,458 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | ||
Gain (Loss) Related to Litigation Settlement | (2,500,000) | $ 0 | $ 2,500,000 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 0.3 | 0.3 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 62,987 | $ 50,389 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2018 2019 2020 2021 |
Note 14 - Income Taxes - Income
Note 14 - Income Taxes - Income Before Taxes (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
U.S. | $ 2,067,224 | $ 6,983,223 | ||
Foreign | 290,897 | 651,678 | ||
Income before income taxes | $ 2,358,121 | $ 7,634,901 | $ 2,358,121 | $ 7,634,901 |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Taxes (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
U.S. operations | $ 1,062,895 | $ 1,488,351 | ||
Foreign operations | 149,505 | 297,107 | ||
Total | $ 1,212,400 | $ 1,785,458 | 1,212,400 | 1,785,458 |
Federal | 741,200 | 1,426,303 | ||
States | 242,393 | 122,052 | ||
Foreign | 177,118 | 256,195 | ||
Total current | 1,160,711 | 1,804,550 | ||
Federal | 69,422 | (56,397) | ||
States | 9,880 | (3,607) | ||
Foreign | (27,613) | 40,912 | ||
Total deferred | $ 51,689 | $ (19,092) |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Property and equipment and intangible assets - U.S. | $ 445,629 | $ 469,403 |
Net operating loss | 4,904 | 14,220 |
Accruals, reserves and other - U.S. | 297,521 | 336,823 |
Leasing assets | 137,756 | 245,819 |
Leasing liabilities | (132,732) | (238,789) |
Gross deferred tax assets | 753,078 | 827,476 |
Less valuation allowance | 0 | 0 |
Total deferred tax assets | 753,078 | 827,476 |
Intangible assets - foreign | (237,844) | (150,878) |
Accruals, reserves and other - foreign | (22,709) | (18,551) |
Total deferred tax liabilities | (260,553) | (169,429) |
Total net deferred tax assets | $ 492,525 | $ 658,047 |
Note 14 - Income Taxes - Inco_2
Note 14 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Federal tax expense (benefit) at statutory rate, amount | $ 495,287 | $ 1,603,764 | |||
State Income Taxes, amount | 201,369 | 92,813 | |||
Permanent Differences, amount | 371,987 | 17,737 | |||
Foreign tax credit | (58,413) | (88,648) | |||
Change in Valuation Allowance, amount | 0 | 0 | |||
Foreign Rate Differential, amount | 202,170 | 159,792 | |||
Total | $ 1,212,400 | $ 1,785,458 | $ 1,212,400 | $ 1,785,458 | |
Federal tax expense (benefit) at statutory rate | 21% | 21% | |||
State income taxes | 8.54% | 1.22% | |||
Permanent differences * | [1] | 20.60% | 0.23% | ||
Foreign rate differential | 8.57% | 2.09% | |||
Foreign tax credit | (2.48%) | (1.16%) | |||
Change in valuation allowance | 0% | 0% | |||
Total tax expense | 56.23% | 23.38% | |||
[1]Substantially all of the permanent differences in during the year ended June 30, 2022 related to the $2,500,000 legal settlement being permanently nondeductible for income taxes. |
Note 14 - Income Taxes - Unreco
Note 14 - Income Taxes - Unrecognized Tax Benefits (Details) | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
Balance | $ 302,335 |
Additions based on tax positions taken during a prior period | 12,597 |
Reductions based on tax positions taken during a prior period | 0 |
Additions based on tax positions taken during the current period | 0 |
Reductions based on tax positions taken during the current period | 0 |
Reductions related to settlement of tax matters | 0 |
Reductions related to a lapse of applicable statute of limitations | 0 |
Balance | $ 314,932 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingencies (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Dec. 01, 2021 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 | Dec. 31, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 NZD ($) | Jun. 30, 2021 NZD ($) | ||
Operating Lease, Expense | $ 824,196 | $ 763,304 | |||||||
Operating Lease, Right-of-Use Asset | 1,357,686 | $ 1,058,199 | [1] | ||||||
Lessee, Operating Lease, Deferred Rent | 47,195 | ||||||||
Operating Lease, Liability, Total | $ 1,404,880 | ||||||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 3 days | 3 years 3 days | |||||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.60% | 5.60% | |||||||
Expense Waivers | $ 70,199 | $ 69,684 | [1] | ||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 169,000 | 159,000 | |||||||
Misappropriate Amount For Estatime End-customer Accounts Opened Fraudulently [Member] | |||||||||
Loss Contingency, Loss in Period | $ 103,000 | ||||||||
Loss Contingency Accrual, Provision | $ 250,000 | ||||||||
Loss Contingency Accrual, Period Increase (Decrease), Total | (147,000) | ||||||||
Primary Service Vendors [Member] | |||||||||
Purchase Obligation, Total | 800,000 | ||||||||
Purchase Obligation, to be Paid, Year One | 500,000 | ||||||||
Purchase Obligation, to be Paid, Year Two | 300,000 | ||||||||
UNL [Member] | |||||||||
Expense Waivers | 100,000 | 100,000 | |||||||
General Security Lease Agreement [Member] | |||||||||
Operating Lease Arrangement, Collateral Amount | 68,675 | $ 110,000 | |||||||
Lease of Separate Facilities [Member] | |||||||||
Restricted Cash and Cash Equivalents, Total | $ 12,486 | $ 20,000 | |||||||
Wainwright [Member] | Lease for Office Space in Walnut Creek, California [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | 3 years | |||||||
Operating Lease, Monthly Rent | $ 13,063 | ||||||||
Gourmet Foods [Member] | |||||||||
Restricted Cash and Cash Equivalents, Total | 12,486 | $ 13,989 | $ 20,000 | $ 20,000 | |||||
Gourmet Foods [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | |||||||||
Operating Lease, Monthly Rent | 21,507 | ||||||||
Finance Lease, Monthly Rent | 1,637 | ||||||||
Finance Lease, Minimum Lease Obligation, Monthly Payments | $ 2,558 | ||||||||
The Original Sprout LLC [Member] | Office and Warehouse Space in San Clemente, CA [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | ||||||||
Operating Lease, Monthly Rent | $ 22,750 | ||||||||
USCF [Member] | |||||||||
Defined Contribution Plan, Minimum Age Requirement for Participation (Year) | 21 years | ||||||||
Defined Contribution Plan, Requirement, Minimum Hours of Service | 1,000 | ||||||||
[1]Derived from audited financial statements |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingencies - Future Minimum Consolidated Lease Payments (Details) | Jun. 30, 2022 USD ($) |
2023, operating lease | $ 714,701 |
2023, finance lease | 19,644 |
2024, operating lease | 457,865 |
2024, finance lease | 19,644 |
2025, operating lease | 165,331 |
2025, finance lease | 19,644 |
2026, operating lease | 152,324 |
2026, finance lease | 19,644 |
2027, operating lease | 63,468 |
2027, finance lease | 19,644 |
Thereafter, operating lease | 0 |
Thereafter, finance lease | 86,759 |
Total minimum lease payments, operating lease | 1,553,689 |
Total minimum lease payments, finance lease | 184,979 |
Less: present value discount, operating lease | (148,809) |
Less: present value discount, finance lease | (54,170) |
Operating Lease, Liability, Total | 1,404,880 |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | 1,404,880 |
Total finance lease liabilities | $ 130,809 |
Note 16 - Segment Reporting (De
Note 16 - Segment Reporting (Details Textual) | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Number of Reportable Segments | 4 | |
Payments to Acquire Machinery and Equipment | $ 7,555 | $ 479,402 |
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | ||
Payments to Acquire Machinery and Equipment | $ 401,681 |
Note 16 - Segment Reporting - R
Note 16 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | ||
Identifiable assets | $ 35,310,577 | $ 31,507,680 | [1] | |
Property, plant, and equipment | 3,252,524 | 3,420,886 | ||
Less accumulated depreciation | (1,860,630) | (1,847,441) | ||
Net property, plant and equipment | 1,391,894 | 1,573,445 | [1] | |
Corporate Headquarters Including Marygold [Member] | ||||
Identifiable assets | 7,243,332 | 3,513,008 | ||
U.S.A Investment Fund Management [Member] | ||||
Identifiable assets | 18,006,771 | 17,467,044 | ||
Property, plant, and equipment | 0 | 0 | ||
USA Beauty Products and Other [Member] | ||||
Identifiable assets | 3,484,315 | 4,024,803 | ||
Property, plant, and equipment | 60,678 | 58,961 | ||
New Zealand Food Industry Segment [Member] | ||||
Identifiable assets | 3,983,381 | 3,831,539 | ||
Property, plant, and equipment | [2] | 2,235,896 | 2,345,569 | |
Canada Security Alarm [Member] | ||||
Identifiable assets | 2,592,778 | 2,671,286 | ||
Property, plant, and equipment | 916,054 | 998,612 | ||
Corporate Segment [Member] | ||||
Property, plant, and equipment | 20,429 | 17,744 | ||
U.K. Investment Fund Management [Member] | ||||
Property, plant, and equipment | $ 19,467 | $ 0 | ||
[1]Derived from audited financial statements[2]Includes the underlying assets of the solar energy system finance lease totaling $150,625 at Gourmet Foods. |
Note 16 - Segment Reporting -_2
Note 16 - Segment Reporting - Reconciliation of Revenue by Segment (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Net income | $ 1,145,721 | $ 5,849,443 | $ 1,145,721 | $ 5,849,443 | |
Capital expenditures | 7,555 | 479,402 | |||
USA Beauty Products and Other [Member] | |||||
Capital expenditures | 1,717 | 41,974 | |||
New Zealand Food Industry Segment [Member] | |||||
Capital expenditures | [1] | 3,153 | 436,775 | ||
Corporate Segment [Member] | |||||
Capital expenditures | 2,685 | 653 | |||
Operating Segments [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 37,829,123 | 39,904,448 | |||
Net income | 1,145,721 | 5,849,443 | |||
Operating Segments [Member] | U.S.A Investment Fund Management [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 23,835,348 | 25,169,182 | |||
Net income | 7,053,050 | 9,983,156 | |||
Operating Segments [Member] | USA Beauty Products and Other [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 3,529,789 | 3,756,512 | |||
Net income | (187,968) | (191,857) | |||
Operating Segments [Member] | New Zealand Food Industry Segment [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 7,930,888 | 8,263,267 | |||
Net income | 323,621 | 469,028 | |||
Operating Segments [Member] | Canada Security Alarm [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 2,533,098 | 2,715,487 | |||
Net income | 246,086 | 284,151 | |||
Operating Segments [Member] | Corporate Headquarters Including Marygold [Member] | |||||
Net income | $ (6,289,068) | $ (4,695,035) | |||
[1]Includes $401,681 related to the acquisition of Printstock in July 2020. See Note 15, Business Combinations |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - Restricted Stock [Member] - Share-Based Payment Arrangement, Employee [Member] - Subsequent Event [Member] - Omnibus Equity Incentive Plan 2021 [Member] | Jul. 25, 2022 USD ($) $ / shares shares |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 277,037 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Fair Value | $ | $ 374,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 1.35 |