SEGMENT REPORTING

3 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 16. SEGMENT REPORTING

With the acquisition of USCF Investments, Gourmet Foods, Brigadier, Tiger, the launch of the Original Sprout business unit of Kahnalytics, and the transition of Marygold to an operating company as of July 1, 2023, the Company has identified seven segments for its products and services; U.S.A. investment fund management, U.S.A. beauty products, New Zealand food industry, Canada security alarm systems, and Financial services. For clarity in segment reporting, the assets and results of operations of Marygold U.S.A. and Marygold U.K. are separated while they are combined on the Condensed Consolidated Statements of Income as financial services. The Company’s reportable segments are business units located in different global regions. The Company’s operations in the U.S.A. include the manufacture and wholesale distribution of hair and skin care products by Original Sprout, the income derived from management of various investment funds by our subsidiary USCF Investments, and the income from investment advisory and transaction fees earned by Marygold U.SA. In New Zealand operations include the production, packaging and distribution on a commercial scale of gourmet meat pies and related bakery confections, and the printing of specialized food wrappers through our wholly-owned subsidiary Gourmet Foods, Ltd. and their subsidiary, Printstock. In Canada, the Company provides security alarm system installation and maintenance services to residential and commercial customers sold through its wholly-owned subsidiary, Brigadier. Our subsidiary in the U.K., Marygold UK, earns management fees through its wholly-owned subsidiary, Tiger, as an investment advisor and asset manager. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation. Amounts are adjusted for currency translation as of the balance sheet date and presented in US dollars.

The following table presents a summary of identifiable assets as of September 30, 2023 and June 30, 2023.

	September 30,		June 30,
	2023		2023
Identifiable assets:
U.S.A.: corporate headquarters (1)	$	3,849,377	$	4,133,619
U.S.A.: investment fund management – related party		19,666,773		19,601,960
U.S.A.: beauty products		2,911,041		2,888,721
New Zealand: food industry		3,705,553		3,933,463
Canada: security systems		2,174,608		2,820,798
U.K.: financial services		1,816,148		1,902,266
U.S.A.: financial services (1)		1,341,700		-
Consolidated total	$	35,465,200	$	35,280,827

(1) The assets of Marygold, identified as located in the U.S.A.: financial services segment as of September 30, 2023, were combined with those of the parent, identified as U.S.A.: corporate headquarters, as of June 30, 2023 and totaled $897,024.

The following table presents a summary of operating information for the three months ended September 30:

	Three Months Ended			Three Months Ended
	September 30, 2023			September 30, 2022
Revenues from external customers:
U.S.A.: investment fund management – related party	$	5,049,550		$	5,419,435
U.S.A.: beauty products		774,626			804,078
New Zealand: food industry		1,730,527			1,937,426
Canada : security systems		553,719			628,892
U.K.: financial services		126,691			133,457
U.S.A.: financial services (1)		401			-
Consolidated total	$	8,235,514		$	8,923,288
Net income (loss):
U.S.A.: investment fund management – related party	$	1,951,786		$	1,785,259
U.S.A.: beauty products		(322,281	)		(19,757	)
New Zealand: food industry		24,889			200,554
Canada : security systems		57,973			107,124
U.K.: financial services		(68,330	)		10,155
U.S.A.: financial services (1)		(1,453,061	)		-
U.S.A.: corporate headquarters (1)		(691,157	)		(1,586,167	)
Consolidated total	$	(500,181	)	$	497,168

(1) The revenues and net income of Marygold, identified as located in the U.S.A.: financial services segment for the three months ended September 30, 2023 were combined with those of the parent, identified as U.S.A.: corporate headquarters, for the three months ended September 30, 2022 where Marygold revenues were $0 and Marygold net loss was ($641,363).

The following table presents a summary of capital expenditures for the three month periods ended September 30:

	Three Months Ended		Three Months Ended
	September 30, 2023		September 30, 2022
Capital expenditures:
U.S.A.: investment fund management	$	-	$	-
U.S.A.: beauty products		9,718		1,128
New Zealand: food industry		7,957		5,854
Canada: security systems		-		698
U.K.: financial services		-		1,738
U.S.A.: financial services		4,677		-
U.S.A.: corporate headquarters		2,837		-
Consolidated	$	25,189	$	9,418

The following table represents the property, plant and equipment in use at each of the Company’s locations as of September 30, 2023 and June 30, 2023:

	As of September 30, 2023			As of June 30, 2023
Asset Location
U.S.A.: investment fund management	$	-		$	-
U.S.A. : beauty products		72,174			62,456
New Zealand: food industry		2,208,605			2,240,357
Canada: security systems		877,554			900,123
U.K.: financial services		22,905			23,695
U.S.A.: financial services (1)		36,508			-
U.S.A. : corporate headquarters (1)		18,086			47,080
Total all locations		3,235,832			3,273,711
Less accumulated depreciation		(2,026,093	)		(2,018,409	)
Net property, plant and equipment	$	1,209,739		$	1,255,302

(1) The property, plant and equipment of Marygold, identified as located in the U.S.A.: financial services segment as of September 30, 2023, were combined with those of the parent, identified as U.S.A.: corporate headquarters, as of June 30, 2023 and totaled $31,831.