Marygold Companies Inc (MGLD)

[wealthy and healthy]

Alright, the MGLD news is out. Not great, but no real downer either. The economy and Covid slowed our sales. We're like 6,000 other stocks rampantly affected by them.

What now, you ask? Obviously, its steady as she goes. So, we hold on for another quarter and see what shakes out. It may be until year before we fully recover. We've been here before and we may now be looking at the same opportunity we've had in the past to buy people's discarded shares at a relatively good discount.

For bottom feeders it may be another chance to get MGLD at sub-$1 again and be ready for the next bounce. This isn't really a gut-check time in which to be all that worried. Gerber said we're in a good cash position overall and that we are essentially debt-free. And we all know that low cash reserves coupled with crushing debt is what does in many small companies. So, rejoice in this and do remember that, as the report stated:

"During the year ended June 30, 2022, the Company’s cash position and net income were negatively impacted by an aggregate of $5.7 million in expenses in connection with a cash payment of $2.5 million in the first fiscal quarter related to a legal settlement, and by an additional $3.2 million expensed during the year toward completion of the Marygold & Co. (a wholly owned subsidiary of the Company) fintech mobile banking app."

One-time quarterly expenses are to be taken in stride. BTW, did I mention that we are essentially debt-free?