RELATED PARTY TRANSACTIONS |
12 Months Ended |
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Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 10. RELATED PARTY TRANSACTIONS
USCF Investments - Related Party Transactions
The Funds managed by USCF and USCF Advisers are considered to be related parties. The Company’s fund management revenue, totaling $17.1 million and $19.0 million for the years ended June 30, 2025 and 2024, respectively, were earned from these related parties. Accounts receivable, totaling $1.3 million and $1.5 million as of June 30, 2025 and 2024, respectively, were owed from the Funds that are related parties. USCF Investments, from time to time, provides initial investments in the creation of ETP and ETF funds that USCF manages. As of June 30, 2025 and 2024, the Company has investments totaling $3.6 million and $7.5 million, respectively, of funds managed by USCF Advisers. The Company owns approximately % and % of the outstanding shares of these investments as of June 30, 2025 and 2024, respectively.
USCF Advisers was contractually obligated to pay license fees to an affiliated entity for fiscal years 2025 and 2024. In February 2025, the license fee agreement was amended to reduce all remaining 2025 and future license fees to zero. As of June 30, 2025, all obligations had been paid. Total fees paid were $0.3 million and $0.1 million for the years ending June 30, 2025 and 2024, respectively.
Brigadier Security Systems - Related Party Transactions
On June 19, 2025, the Company entered into a stock purchase agreement with SKCAL LLC, an Arizona limited liability company, pursuant to which the Company has agreed to sell to SKCAL LLC all of the shares of stock it owns in its wholly owned subsidiary, Brigadier Security Systems (2000) Ltd., a Canadian registered corporation for $2.2 million. Scott Schoenberger, a director and 10.9% shareholder of the Company, is the sole member of SKCAL LLC making this transaction between related parties (see Note 16. Subsequent Events for more details).
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