<SEC-DOCUMENT>0001185185-18-000856.txt : 20180511
<SEC-HEADER>0001185185-18-000856.hdr.sgml : 20180511
<ACCEPTANCE-DATETIME>20180511171048
ACCESSION NUMBER:		0001185185-18-000856
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180511
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180511
DATE AS OF CHANGE:		20180511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S GLOBAL INVESTORS INC
		CENTRAL INDEX KEY:			0000754811
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				741598370
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13928
		FILM NUMBER:		18827880

	BUSINESS ADDRESS:	
		STREET 1:		7900 CALLAGHAN RD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229
		BUSINESS PHONE:		2103081234

	MAIL ADDRESS:	
		STREET 1:		7900 CALLAGHAN ROAD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED SERVICES ADVISORS INC /TX/
		DATE OF NAME CHANGE:	19950321
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>usglobalinvestors8k051118.htm
<DESCRIPTION>8-K
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Federal Filings
    Document created using EDGARfilings PROfile 4.3.3.3
    Copyright 1995 - 2018 Broadridge-->
</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif" bgcolor="#ffffff" text="#000000">
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: normal">
<hr style="BORDER-TOP: black 4px solid; HEIGHT: 10px; BORDER-RIGHT: medium none; BORDER-BOTTOM: black 1px solid; COLOR: #ffffff; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; MARGIN-RIGHT: auto" align="center">
</div>

<div style="font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; line-height: normal; font-size: 16pt;">UNITED STATES</div>

<div style="FONT-SIZE: 16pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: normal">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">Washington, D.C.&#160; 20549</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="LINE-HEIGHT: 11.4pt">
<hr style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; COLOR: #000000; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; WIDTH: 12%; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" align="center" noshade="noshade">
</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 16pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">FORM 8-K</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">CURRENT REPORT</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="LINE-HEIGHT: 11.4pt">
<hr style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; COLOR: #000000; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; WIDTH: 12%; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" align="center" noshade="noshade">
</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">Pursuant to Section 13 Or 15(d) Of </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">The Securities Exchange Act of 1934</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">Date of Report (Date of earliest event reported): May 11, 2018</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="TEXT-ALIGN: center; FONT: bold 18pt 'Times New Roman', Times, serif"><u>U.S. GLOBAL INVESTORS, INC.</u></div>

<div style="LINE-HEIGHT: 0.95pt"><br style="LINE-HEIGHT: 0.95pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">(Exact name of registrant as specified in its charter)</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="LINE-HEIGHT: 11.4pt">
<table id="z231c7443691d46b5aeffadf5634a8b75" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; WIDTH: 35%"><u> </u>

<div style="TEXT-ALIGN: center"><u>Texas</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; WIDTH: 30%"><u> </u>

<div style="TEXT-ALIGN: center"><u>0-13928</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; WIDTH: 35%"><u> </u>

<div style="TEXT-ALIGN: center"><u>74-1598370</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 35%">
<div style="TEXT-ALIGN: center">(State of other jurisdiction of incorporation)</div>
</td>
<td style="WIDTH: 30%">
<div style="TEXT-ALIGN: center">(Commission&#160;File Number)&#160;</div>
</td>
<td style="WIDTH: 35%">
<div style="TEXT-ALIGN: center">(IRS Employer Identification No.)</div>
</td>
</tr>

<tr style="HEIGHT: 6px">
<td style="WIDTH: 35%">
<div>&#160;</div>
</td>
<td style="WIDTH: 30%">
<div>&#160;</div>
</td>
<td style="WIDTH: 35%">
<div>&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 5px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; WIDTH: 35%"><u> </u>

<div style="TEXT-ALIGN: center"><u>7900 Callaghan Road, San Antonio, Texas</u></div>
</td>
<td style="WIDTH: 30%">
<div>&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; WIDTH: 35%"><u> </u>

<div style="TEXT-ALIGN: center"><u>78229</u></div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 35%">(Address of principal executive offices)&#160;&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 30%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 35%">(Zip Code)&#160;</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">Registrant's telephone number, including area code: 210-308-1234</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></font><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="LINE-HEIGHT: 0.95pt"><br style="LINE-HEIGHT: 0.95pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt">(Former name or former address, if changed since last report)</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="zf726f27348284c7da42a1750ea0cce82" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 100%; BACKGROUND-COLOR: #ffffff" colspan="2">
<div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (&#167;240.12b-2 of this chapter)</div>

<div>Emerging growth company&#160;<font style="FONT-FAMILY: 'Segoe UI Symbol', sans-serif">&#9744;</font>.</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 50%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 50%; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">&#160;</div>
</td>
</tr>

<tr>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 100%; BACKGROUND-COLOR: #ffffff" colspan="2">
<div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="FONT-FAMILY: 'Segoe UI Symbol', sans-serif">&#9744;</font></div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
 &#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Item 2.02 Results of Operations and Financial Condition.</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt">On May 10, 2018, U.S. Global Investors, Inc. issued a press release reporting earnings and other financial results for its quarter ended March 31, 2018. A copy of the press release is attached and being furnished as Exhibit 99.1.</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Item 9.01 Financial Statements and Exhibits.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt">Exhibit 99.1 &#8211; <a href="ex99-1.htm">Press Release issued by U.S. Global Investors, Inc. dated May 10, 2018, reporting earnings and other financial results for the quarterly period ended March 31, 2018.</a>&#160; </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">&#160;&#160;</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">SIGNATURES</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 252pt">U.S. Global Investors, Inc.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 252pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 252pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 252pt">By:&#160;&#160;<u>&#160;&#160;&#160;&#160;&#160;&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">/s/ Susan B. McGee&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></u>&#160;&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 270pt">Susan B. McGee</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 270pt">President, General Counsel and CCO</div>

<div style="FONT-WEIGHT: normal; LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">Dated:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;May 11, 2018&#160; &#160;&#160; </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt">&#160;</div>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Federal Filings
    Document created using EDGARfilings PROfile 4.3.3.3
    Copyright 1995 - 2018 Broadridge-->
</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif" bgcolor="#ffffff" text="#000000">
<div style="TEXT-ALIGN: right"><br>
<font style="FONT-WEIGHT: bold">Exhibit 99.1</font></div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="LINE-HEIGHT: 13.7pt">
<table id="zf7c3ddc8ec004c7d909145cf2f1fbdf8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 50%">
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Contact:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Holly Schoenfeldt</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Marketing &amp; Public Relations Manager</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">210.308.1268</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">hschoenfeldt@usfunds.com</div>
</div>
</td>
<td style="WIDTH: 50%">
<div style="TEXT-ALIGN: right"><img style="HEIGHT: 99px; WIDTH: 131px" src="image0.jpg"></div>
</td>
</tr>
</table>

<br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">For Immediate Release</div>

<div style="LINE-HEIGHT: 20.5pt"><br style="LINE-HEIGHT: 20.5pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">U.S. Global Investors Reports Financial Results for the Third Quarter of 2018 Fiscal Year</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">************************************************************************</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">SAN ANTONIO&#8211;May 10, 2018&#8211;</font>U.S. Global Investors, Inc. (NASDAQ: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">GROW</font>) (the &#8220;Company&#8221;), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today reported a net loss of $1.1 million, or $0.07 per share for the quarter ended March 31, 2018. For the nine-month period, however, net income was $959,000, or $0.06 per share, an increase of more than 300 percent compared to the same period last year.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The most significant contributor to the quarterly net loss was related to the Company&#8217;s investment in the Galileo Partners Fund (the &#8220;Galileo Fund&#8221;), managed by Galileo Equity Advisors. Toronto-based Galileo Equity Advisors is a 65-percent owned subsidiary of U.S. Global Investors. The primary investment in the Galileo Fund is HIVE Blockchain Technologies (&#8220;HIVE&#8221;), the first publicly-traded firm involved in the mining of virgin cryptocurrencies, principally Ethereum. Cryptocurrency markets and related stocks have been, and are expected to continue to be, volatile. Cryptocurrency mining is considered an early stage, high-risk industry, and the nature of mining is expected to evolve. The Company&#8217;s investment in the Galileo Fund is accounted for under the equity method, and a decrease in value of this fund&#160; caused the Company to recognize a loss of $840,000 during the three months ended March 31, 2018. However, since the initial investment in August 2017, the Company has recognized equity method income from the Galileo Fund of $1.9 million.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Frank Holmes, Company CEO and chief investment officer, notes that a recovery in cryptocurrencies such as Bitcoin and Ethereum is underway following a selloff that began late last year.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#8220;From its all-time high of $1,423 on January 13, 2018 in intraday trading, the price of Ethereum collapsed more than three and a half times by the end of March as many investors liquidated holdings ahead of the income tax filing deadline,&#8221; Holmes says. &#8220;This selloff negatively impacted HIVE, which gave up 63 percent in the March quarter. However, we are beginning to see investors get back in the trade. In April, the price of Bitcoin rose close to 35 percent, Ethereum 70 percent, and we believe this could be a tailwind for HIVE shares going forward.&#8221;</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">As of March 31, 2018, the Company had a direct ownership of HIVE of approximately 3.3 percent and a combined direct and indirect ownership of HIVE of approximately 3.7 percent. Frank Holmes is the non-executive chairman of HIVE and held shares and options at March 31, 2018.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">3QFY18 earnings, Page 2</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">May 10, 2018</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">HIVE Continues to Pursue Profitable Growth of Its Digital Currency Mining Capacity</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#8220;HIVE continues to expand its industrial-scale mining capacity,&#8221; Holmes says. &#8220;When it went public in September 2017, the company had only 2.4 megawatts (MW) in its graphics processing units (GPU)-based digital currency mining complex. On May 1, HIVE announced completion of its third expansion, bringing energy consumption up to a total of 24.2 MW. Further expansion, scheduled to be completed in September, will allow HIVE to add Bitcoin and Bitcoin Cash to its mining inventory.&#8221;</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Volatility Remains High, but New Developments Suggest a Maturing Industry</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#8220;It&#8217;s important for shareholders to remember,&#8221; Holmes adds, &#8220;that the still-nascent cryptocurrency market continues to be highly volatile. Whereas the S&amp;P 500 and gold bullion typically have daily volatility of 1 percent, cryptocurrencies have one closer to 6 or 7 percent. I believe fair and reasonable regulation of the initial coin offering (ICO) market is healthy since many new issuances have lacked the proper disclosures that the securities market must provide.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#8220;At the same time, we&#8217;re seeing the industry mature and digital currencies become more widely accepted as a viable asset class. Money is all about trust, and I believe coins built on blockchain technology, which is decentralized and fully transparent, have the potential to enjoy mainstream adoption. Both Goldman Sachs and Barclays are rumored to be working on introducing cryptocurrency trading desks, and Nasdaq CEO Adena Friedman said recently that Nasdaq would seriously consider becoming a crypto exchange. The amount of venture capital flowing into cryptocurrency and blockchain startups remains strong and is building momentum. And early this month, the Bank of Korea (BoK) announced it is looking into issuing its own digital currency. I invite you to watch <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">this 2016 TED Talk</font> by Neha Narula, director of MIT&#8217;s Digital Currency Initiative, about how digital currencies could transform our world.&#8221;</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">GOAU Continued to Attract Assets Despite Gold Stocks Being Under Pressure</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Average assets under management (AAUM), including Company mutual funds, exchange-traded funds (ETFs) and Galileo funds, were $717 million for the quarter ended March 31, 2018, compared to an average of $841 million for the same quarter in 2017. Total assets under management were $692 million as of March 31, 2018, versus $796 million a year ago.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The combined AAUM in the Company&#8217;s two gold mutual funds, the Gold and Precious Metals Fund (USERX) and World Precious Minerals Fund (UNWPX), fell nearly 26 percent during the quarter ended March 31, 2018, compared to the same quarter last year, as gold mining stocks were under pressure and faced greater volatility along with the broader equity market. In addition, Treasury yields moved upward across the curve, putting pressure on the price of gold, which nonetheless gained 1.3 percent in the first quarter of calendar year 2018.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">This decrease was offset somewhat by higher AAUM in the China Region Fund (USCOX), which rose almost 65 percent year-over-year to $29.3 million. The Company&#8217;s two ETFs also managed to do well. U.S. Global Jets ETF (JETS) AAUM was $100.6 million in the quarter ended March 31, 2018, versus $66.0 million in the prior year quarter. The U.S. Global GO GOLD and Precious Metal Mines ETF (GOAU), launched June 27, 2017, attracted $11.0 million in AAUM, as of the third fiscal quarter 2018.&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="MARGIN-BOTTOM: 0px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 0px; LINE-HEIGHT: 11.4pt">3QFY18 earnings, Page 3</div>

<div style="MARGIN-BOTTOM: 0px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 0px; LINE-HEIGHT: 11.4pt">May 10, 2018</div>
</div>

<div>
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 14pt">Share Repurchase Program</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 14pt">U.S. Global Investors has continued purchasing its outstanding stock. For the three and nine months ended March 31, 2018, the Company repurchased 2,000 and 47,947 class A shares using cash of $8,000 and $139,000, respectively. The share repurchase plan may be suspended or discontinued at any time.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">Continued Strong Balance Sheet</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">As of March 31, 2018, the Company had net working capital of approximately $13.8 million. With approximately $4.1 million in cash and cash equivalents and approximately $20.1 million in marketable securities, the Company has adequate liquidity to meet its current obligations. In addition, the Company has had no long-term debt since 2004 and owns its headquarters building.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">U.S. Global Continues GROW Dividends</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">The Company has also continued to pay monthly dividends for more than 10 years. A monthly dividend of $0.0025 per share was paid for July 2017 through March 2018 and is authorized through June 2018, at which time it will be considered for continuation by the Board.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">Earnings Webcast Information</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Company has scheduled a webcast for 3:30 p.m. Central time on Thursday, May 10, 2018, to discuss the Company&#8217;s key financial results for the quarter. Frank Holmes will be accompanied on the webcast by Susan McGee, president, general </font>counsel and chief compliance officer; and Lisa Callicotte, chief financial officer. Click <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">here</font> to register for the earnings webcast or visit <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">www.usfunds.com</font> for more information.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt; LINE-HEIGHT: 20.5pt">Selected financial data (unaudited) (dollars in thousands, except per share data):</div>

<table id="zcfe5da8101c74a2197dbe35db96ebe50" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Three months ended</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">3/31/2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">3/31/2017</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Operating Revenues</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">1,417</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">1,669</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Operating Expenses</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">2,007</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">1,860</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Operating Income (Loss)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(590</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(191</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Total Other Income (Loss)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(643</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">161</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Income (Loss) Before Income Taxes</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(1,233</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(30</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Tax Expense (Benefit)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(168</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">3</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Net Income (Loss)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(1,065</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(33</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Less: Net Income (Loss) Attributable to Non-Controlling Interest</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(5</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">0</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Net Income (Loss) Attributable to U.S. Global Investors, Inc.</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(1,060</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(33</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Earnings per share (basic and diluted)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">(0.07</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">0.00</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Avg. common shares outstanding (basic)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">15,144,068</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">15,200,280</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Avg. common shares outstanding (diluted)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">15,144,068</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">15,200,280</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Avg. assets under management (millions)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">717.4</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; LINE-HEIGHT: 13.7pt">841.4</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">####</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="MARGIN-BOTTOM: 0px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 0px; LINE-HEIGHT: 11.4pt">3QFY18 earnings, Page 4</div>

<div style="MARGIN-BOTTOM: 0px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 0px; LINE-HEIGHT: 11.4pt">May 10, 2018</div>
</div>

<div>
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">About U.S. Global Investors, Inc.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides money management and other services to U.S. Global Investors Funds, U.S. Global ETFs and other international clients.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">Forward-Looking Statements and Disclosure</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">This news release and other statements by U.S. Global Investors may include certain &#8220;forward-looking statements,&#8221; including statements relating to revenues, expenses and expectations regarding market conditions. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">You can identify these forward-looking statements by the use of words such as &#8220;outlook,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;potential,&#8221; &#8220;opportunity,&#8221; &#8220;seeks,&#8221; &#8220;anticipates&#8221; or other comparable words. Such statements involve certain risks and uncertainties and should be read with corporate filings and other important information on the Company&#8217;s website, www.usfunds.com, or the Securities and Exchange Commission&#8217;s website at www.sec.gov.</font></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">These filings, such as the Company&#8217;s annual report and Form 10-Q, should be read in conjunction with the other cautionary statements that are included in this release. Future events could differ materially from those anticipated in such statements and there can be no assurance that such statements will prove accurate and actual results may vary. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Please consider carefully a fund&#8217;s investment objectives, risks, charges and expenses. For this and other important information regarding the U.S. Global Jets ETF (JETS) and U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), obtain a statutory and summary prospectus by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">visiting </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">www.usglobaletfs.com.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</font>Read it carefully before investing.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the fund. Brokerage commissions will reduce returns. Because GOAU concentrate its investments in specific industries, it may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. GOAU is non-diversified, meaning it may concentrate more of its assets in a smaller number of issuers than a diversified fund. The fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The fund may invest in the securities of smaller-capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The performance of the fund may diverge from that of the index. Because GOAU may employ a representative sampling strategy and may also invest in securities that are not included in the index, it may experience tracking error to a greater extent than funds that seek to replicate an index. The fund is not actively managed and may be affected by a general decline in market segments related to their indexes.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">3QFY18 earnings, Page 5</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">May 10, 2018</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">GOAU is distributed by Quasar Distributors, LLC. U.S. Global Investors is the investment adviser to GOAU.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">The&#160;S&amp;P 500 Index&#160;is a basket of&#160;500&#160;of the largest U.S. stocks, weighted by market capitalization.</font></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors own shares of HIVE, directly and indirectly.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Company accounts for its investments in the Galileo Partners Fund under the equity method of accounting. Under the equity method, the investment is initially recorded at cost, then the Company&#8217;s proportional share of the fund&#8217;s net income or loss, which primarily consists of realized and unrealized gains and losses on investments offset by fund expenses, is recognized in the Company&#8217;s earnings with a corresponding increase or decrease to the carrying value of the investment. Distributions received from the investee reduce the Company&#8217;s carrying value of the investment.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image0.jpg
<TEXT>
begin 644 image0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !C (,# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P"IX'^'VF^(
M?##:O??:_+29XW-LXRH !W%2.1@]N>G%=)'\*?!S0/=MK%TMFJ;VE=U41XZA
MB1P:/A;=QV7@"XN;B;RK>&XDDD8GA0%4DU<LM'D\57']N:E&+:T?:UA9;01@
M'(EE4\,Q[ ],UZE6O4527O629DHJRT.:A^&^G:^#_P (Q:ZC+;YP-0OW$,!]
MU7&]Q[@ 5HS? ^&QTJXN[O5RSPPO(4BA^7(4GJ6SCCTKOTUBYMY$%]BW8D(D
MB',3'@ #^[DG !ZX-;.IW N?#&HOC!^RR@CK_ :Q>-K723T^\KDB>1I\$?M>
MD6E]8ZHCR31)*89HRH.0#C<"<?E5:R^'_A>2[EL-2DU+3M0MXVEEMY'1@Z#^
M*)@,./IS[5[3H0!\-Z8I!(:TB!Q_N"N?USPX^N3M'9S-;O8 RVUR!RMQ_" >
MZCN._(--8NJY.,I:=Q<B//-"^%.DWU[?VU]<W44EM="(!"O *!@">1D9P2.*
MV;KX,^&+9MAO-19R,C#+Q^E:O@^\;6+36-2: V\[7VV>W _U4BHJM^&X&M]F
M9VRQ)/J:FKBJ\9M<PU&-C@Y/@YX?C1&_M"[?<,X4CCZT^V^"^AW+X6[OMHZM
M\O%=Y J-,H<@+[]_:M6TMYX3-Y97RR?DSWK/ZW7_ )F/DCV/.Q\#O#C1[TO-
M0.>F&7_"A?@3H/\ %J%[]!M_PKT^W@$$00$D]R:EH^MU_P"8.2/8\M_X45X>
MS_Q_7_\ WTO^%+_PHOP[_P _M_\ ]]+_ (5ZC1VH^N5_Y@Y(]CR[_A17AW_G
M]O\ _OI?\*0_ OPZ ?\ 3;__ +Z7_"O41R!D8]JI:DUPD6^)PL:J=V#SFCZY
M7_F#DCV/CZZC6*ZEC4856P**6]_X_9O]XT5](MCF/1/ B'6],L?#V?\ 15N7
MOK\9^_&NT(GXM_*O83S_ (>E>7_"'[-;Z=J5U/<01.[I$HDD53@;B>OX5Z1_
M:%C_ ,_UI_W_ $_QKY[&W=9I;(Z(;$Y 92K $'@@]ZK2V\MKHVI)92 0FUDW
M6S_=QL(^0]5P,#'W?:G?;['_ )_K3_O^G^-5=2O[(Z1?!;ZUW&WD Q.N<E3[
MUSPYDT4S%M?B9=V.@Z=;KH.R:2UC6V::[0!\X17V\-M)(/KCFNJM[K7-+M J
MZ A7^(MJ29=CU8G8,DDY)KSC3KOP[?>"DFN&ACURRBMUBAEN&)0!TRZ;FP0W
M7@<=*Z/5?&;P2'2K.]M-5O0&,<BRJ!!PO,I'&!ECQV&*[*M)7M"/?O\ YD)]
MV3>%)9GN/$<DL*P2/J9+HCA@"47(R.M=!7,>"+:.UL]4CBO#>J;P.;K.?.9H
MU8M^)/3M73UR5_XC_KH7'8FM422X1)"0I[BM:2ZDAY:)A", ,1S]35;28 S-
M.?X3A:U6574JP!4]0:R&00WD,QP& ;L">M.*.;ACN;RV3'7H0>WU_I2F*./]
MXL2!E[X[=Z)I#"C2\%%&2/\ "@"6BH;>Y2YCWIVZ@]J?'*DH)C8, <''K0 D
MLRPA2^=K'&?2N/\ $'B=+/7=,T5T1KN_9_E#']U$JD[B/4D?I70:C=Q21>3&
M=YX8D5XI:Z;K&J?%6ZOVN([PZ=.OVB120JH5(V+GKM':NBA3C/F<GLO^&)D[
M'F%[_P ?LW^\:*+W_C]F_P!XT5]*MCF/4_A/9:=J&DZA'=V-O<2Q2(RM+&&(
M4AACGW%>@?\ "/Z+_P! BQ_[\+7FGPIG-CJ,2R-B'4XY(4ST\V,A@/R8UZ[7
MS^-<HUG9[G1"SB9O_"/:+_T"+'_OPM5+K0]'EN8[.'2[($_/,RPKE$_(\GI@
MXR,^E;-Q/':V\D\IPB#)]_0?B<#\:CLX9(XC).,7,IW2\?=]%^@';)YS7,IR
M6MRK(J_\(]HF1_Q)['CI^X7BK]KX9T&]<!M'LU*K\VR!0#Z=NO\ A3ZTM(E"
MR/$>K#(/TJ>>7<+(Y72M 6WOM?\ [-D^RB"] 5%'R;?+0X*]",GM@^]7([YD
M*QW\:VTA^ZP;,;_1NQY'!QR<#-:GAW_D,>)/^O\ 7_T3'5G5H;==JA%W,<LN
M,@CZ?6KJ/WM?+\@0:==I;[XY3M!.0<5I074-P6$;9*]>,5QZ6LMDH%FV^%0
M+>0_=''W6Z] >#G)/45HZ'J"3W81 R2$8DAD&&3_ !YXR.*SMU0SI:QM48"1
M(E<D*.4[+Z5L$?,I/;I[5S3J_P#K&!PY)#'OZT@)+>?RDE3.!(N,^E2V$LD1
MD=,,JKEE)Q5.I(96ADWKCH<@]".] %'Q)K,?AWP[>ZO=*%#*?)3^\Y^Z,?7^
M587@+1IM)\->;> _;[]FNKC/7+#@?E69+*WQ$\:11*S-X=T1NHY%Q-Z#UZ8^
M@)[UZ2X B<75N=X7.Y!C QQG^5=$_P!W3]GU>K_1?J2M7<^2[W_C]F_WC11>
M_P#'[-_O45]*MCF/2O"^GSW7PS^W60/V_3-0:\MP!RVT+N7\1FO4=-U&#5],
MMM1M2##<QAU /0GJ/P/%<?\ "3CP8_\ U]O_ "6EDE;P)K4D"R*NC:O(6MV9
MMJVEP>H. <*<Y!QP:\"NO:5)0ZIZ?K_G]YO'1)G6M_I>H*,_N+1LGK\TI'TY
M ![9!+>HJY45M;I:VT<,?*J/O<?,3R2<<9)Y_&I:XF^QH%20@F>, D98<BHZ
ML6*;[V(>^?RI )H#!-5\2LW07P)_[\QT7=R;J;>1@ 8 K,LIV_M;Q'$IPO\
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M7^_^E%%%@#[3+_?_ $%'VF7^_P#H***+ 'VF7^_^E'VF7^_^E%% !]IF_O\
MZ"C[3-_?/Y4446 /M,W]_P#2C[3-_?\ THHHL ?:9?[_ .E'VF;^_P#I1118
< ^T2_P!_]!1]HE_OG\J** (R2QR?Y4444"/_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
