The Marygold Companies, Inc. (aka Concierge Technologies, Inc.)

General Information
Business:

(Note: IPOScoop has NO CALL on this deal because it NOT an IPO. It is an NYSE – American uplisting from the OTC Pink market, where the company’s common stock trades under the symbol “CNCG.” From the prospectus: “Our estimated offering price is $2.25, below the last reported sale price of our stock at $3.00 on the OTC Pink on Feb. 28, 2022.)

Note: The company priced its public offering and announced its NYSE-American uplisting on March 9, 2022, along with the change of its name to The Marygold Companies, Inc., from Concierge Technologies, Inc. The name change was effective March 10, 2022, the trading date of its shares on the NYSE-American exchange.

**Note: The public offering was priced at $2 – below the $2.75 last closing price of its stock on the OTC Pink Market – and more stock was priced – 1.65 million shares, up from 1.33 million in the recently downsized terms in the prospectus – to raise $3.3 million.

The company, a Nevada corporation, operates through its wholly owned subsidiaries engaged in varied business activities:

  • Wainwright Holdings – a U.S.-based company with two LLC subsidiaries that are investment services companies.
  • Gourmet Foods, Ltd. – a New Zealand-based company that makes and distributes New Zealand meat pies, and its wholly owned New Zealand subsidiary, Printstock Products Limited, which prints specialty food wrappers for the food industry in New Zealand and Australia.
  • Brigadier Securities Systems (2000) Ltd., a Canadian company that sells and installs commercial and residential alarm monitoring systems.
  • Kahnalytics, Inc., dba/ Original Sprout – a U.S.-based company involved in the wholesale distribution of hair and skin care products under the brand name Original Sprout.
  • Marygold & Co. – a newly formed U.S.-based FinTech (financial technology) company, and
  • Marygold & Co. (UK) Limited – a newly formed U.K.company.
    **Note: Revenue and net income figures are for the fiscal year that ended June 30, 2021, according to the prospectus.

(The background on this public offering: The Marygold Companies, Inc., also known as Concierge Technologies, slashed the size of its NYSE-American uplisting on March 3, 2022, in an S-1/A filing, to 1.33 million shares, down from 2.39 million shares, and cut its assumed offering price to $2.25 per share, down from $3.35 per share, to raise $2.99 million. That downsizing represented a 62.7 percent cut in terms of estimated proceeds of the offering from its initial estimate of $8.01 million.)

 

Industry: Investment services - FinTech & Other
Employees: 114
Founded: 1996
Contact Information
Address 120 Calle Iglesia Unit B San Clemente, CA 92672
Phone Number 949-429-5370
Web Address
View Prospectus: The Marygold Companies, Inc. (aka Concierge Technologies, Inc.)
Financial Information
Market Cap $48.5mil
Revenues $39.9 mil (last 12 months)
Net Income $5.9 mil (last 12 months)
IPO Profile
Symbol MGLD
Exchange NYSE - American
Shares (millions): 1.7
Price range $2.00 - $2.00
Est. $ Volume $3.3 mil
Manager / Joint Managers Maxim Group
CO-Managers -
Expected To Trade: 3/10/2022
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change