Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Market
for our Shares
Our
common trades on the NYSE American, LLC, stock exchange (“NYSE American”) under the symbol “MGLD.”
Holders
On
September 11, 2025, there were 360 holders of record of our shares of common stock. In addition, we have an aggregate
of 13,302 shares of Series B Preferred Stock held by two persons that entitle such holders to convert each share of Series B Preferred
Stock into 20 shares of common stock and to vote such shares on an “as if converted” basis.
Dividends
We
have never declared or paid a cash dividend on our common stock or preferred stock and do not anticipate paying cash dividends on our
common stock in the foreseeable future. Payment of future cash dividends, if any, will be at the discretion of our board of directors
and will depend on our financial condition, results of operations, contractual restrictions and covenants included under any bank or
other indebtedness that we may enter into, capital requirements, business prospects and other factors that our board of directors considers
relevant.
Our
ability to pay dividends is subject to limitations under Nevada law. Under Nevada law, dividends may be paid to the extent that a corporation’s
assets exceed its liabilities and it is able to pay its debts as they become due in the usual course of business. Under Nevada law, a
company can pay dividends only:
●
from
retained earnings, and
●
no
distribution can be made, if after giving it effect, the corporation would not be able to pay its debts as they become due in the
usual course of business; or
●
except
as otherwise specifically allowed by the articles of incorporation, the corporation’s total assets would be less than the sum
of its total liabilities plus the amount that would be needed, if the corporation were to be dissolved at the time of distribution,
to satisfy the preferential rights upon dissolution of stockholders whose preferential rights are superior to those receiving the
distribution.
Our
strategy on dividends is to declare and pay dividends only from retained earnings and only when our board of directors deems it prudent
and in the best interests of the Company to declare and pay dividends.
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Table of Contents
Recent
Sales of Unregistered Securities; Shares Issued for Services; Outstanding Stock Options
On
February 17, 2025, the Schoenberger Family Trust converted 36,058 shares of Series B Preferred Stock into 721,160 shares of
restricted shares of our common stock. No other unregistered shares of any class of stock were issued during the year ended June 30,
2025.
ITEM
6. [RESERVED]
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.