U.S. Global Investors, Inc. (U.S. Global), along with its subsidiaries, is engaged in the business of providing investment advisory and other services to U.S. Global Investors Funds (USGIF), a statutory trust, as well as offshore clients. USGIF is an investment company offering shares of 13 mutual funds on a no-load basis. As part of the mutual fund management business, the Company provides investment advisory services, transfer agency and record keeping services, distribution services, and administrative services, through its wholly owned broker-dealer, to mutual funds advised by the Company. In addition to providing management and advisory services, the Company is engaged in trading for its own account.