<SEC-DOCUMENT>0001437749-23-003482.txt : 20230215
<SEC-HEADER>0001437749-23-003482.hdr.sgml : 20230215
<ACCEPTANCE-DATETIME>20230215140449
ACCESSION NUMBER:		0001437749-23-003482
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230215
DATE AS OF CHANGE:		20230215
EFFECTIVENESS DATE:		20230215

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:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13928
		FILM NUMBER:		23634905

	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>NT 10-Q
<SEQUENCE>1
<FILENAME>usglobal20230214_nt10q.htm
<DESCRIPTION>FORM NT 10-Q
<TEXT>
<html><head>
	<title>usglobal20230214_nt10q.htm</title>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%; text-align: center;"><b>UNITED STATES</b></td>
			<td style="width: 33%; text-align: center; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0) black rgb(0, 0, 0) rgb(0, 0, 0);">OMB APPROVAL</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%; text-align: center; vertical-align: top;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><b>Washington, D.C. 20549</b></p>
			</td>
			<td style="width: 33%; border-left: 1px solid rgb(0, 0, 0); border-bottom: 3px double black; border-right: 1px solid black;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 1pt;">OMB Number:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235-0058</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 1pt;">Expires:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 30, 2025</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 1pt;">Estimated average burden hours per response&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50</p>
			</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%; text-align: center; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt;"><b>FORM 12b-25</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 33%; text-align: center; border-left: 1px solid rgb(0, 0, 0); border-bottom: 3px double black; border-right: 1px solid black; vertical-align: top;">SEC FILE NUMBER</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%; text-align: center; vertical-align: bottom;"><b>NOTIFICATION OF LATE FILING</b></td>
			<td style="width: 33%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">CUSIP NUMBER</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 14%;"><i>(Check one):</i></td>
			<td style="width: 14%;">&#9744; Form 10-K</td>
			<td style="width: 14%;">&#9744; Form 20-F</td>
			<td style="width: 14%;">&#9744; Form 11-K</td>
			<td style="width: 14%;">&#9746; Form 10-Q</td>
			<td style="width: 14%;">&#9744; Form 10-D</td>
			<td style="width: 14%;">&#9744; Form N-CEN</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&#9744; Form N-CSR</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 9pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">For Period Ended: <u>December</u><u>&nbsp;</u><u>31, 2022</u><u>&nbsp;</u><u> </u><u>&nbsp;</u><u> </u><u>&nbsp;</u><u> </u><u>&nbsp;</u><u> </u><u>&nbsp;</u><u> </u><u>&nbsp; &nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">&#9744;&nbsp; &nbsp; &nbsp; Transition Report on Form 10-K</td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">&#9744;&nbsp; &nbsp; &nbsp; Transition Report on Form 20-F</td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">&#9744;&nbsp; &nbsp; &nbsp; Transition Report on Form 11-K</td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">&#9744;&nbsp; &nbsp; &nbsp; Transition Report on Form 10-Q</td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td colspan="2" rowspan="1" style="width: 33%;">For the Transition Period Ended: <u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</u></td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 103pt;text-indent:-23pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 100%; text-align: center; border-width: 1px; border-style: solid; border-color: black;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 6pt;"><i>Read Instruction (on back page) Before Preparing Form. Please Print or Type.</i></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 6pt;"><b>Nothing in this form shall be construed to imply that the Commission has veri</b>&#64257;<b>ed any information contained herein.</b></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 103pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">If the noti&#64257;cation relates to a portion of the &#64257;ling checked above, identify the Item(s) to which the noti&#64257;cation relates:</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>PART I </b>&#8212;<b> REGISTRANT INFORMATION</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">U.S. Global Investors, Inc.</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Full Name of Registrant</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Former Name if Applicable</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">7900 Callaghan Road</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Address of Principal Executive Office (Street and Number)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">San Antonio, TX 78229</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">City, State and Zip Code</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>PART II </b>&#8212;<b> RULES 12b-25(b) AND (c)</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">If the subject report could not be &#64257;led without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">&#9744;</td>
			<td style="width: 36pt; border-left: 1px solid black;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">(a)</p>
			</td>
			<td style="width: auto;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</p>
			</td>
		</tr>
		<tr style="vertical-align: top;">
			<td style="width: 36pt;">&nbsp;</td>
			<td style="width: 36pt; border-left: 1px solid black;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">(b)</p>
			</td>
			<td style="width: auto;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be &#64257;led on or before the &#64257;fteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be &#64257;led on or before the &#64257;fth calendar day following the prescribed due date; and</p>
			</td>
		</tr>
		<tr style="vertical-align: top;">
			<td style="width: 36pt;">&nbsp;</td>
			<td style="width: 36pt; border-left: 1px solid black;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">(c)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The accountant&#8217;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
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<div class="hf-cell TOCLink">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>PART III </b>&#8212;<b> NARRATIVE</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be &#64257;led within the prescribed time period.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">U.S. Global Investors, Inc. (&#8220;USGI&#8221; or &#8220;Registrant&#8221;) has determined that it will not be able to file its Quarterly Report on Form 10-Q for the three and six months ended December 31, 2022, within the prescribed time period without incurring unreasonable effort and expense due to unanticipated delays finalizing the financial statements, primarily due to delays in determining the fair value of an investment. The Registrant does not believe that it will file the Quarterly Report on or before the fifth calendar day provided by Rule 12b-25.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>PART IV </b>&#8212;<b> OTHER INFORMATION</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(1)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Name and telephone number of person to contact in regard to this noti&#64257;cation</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table cellpadding="0pt" cellspacing="0pt" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; margin-left: 0pt; margin-right: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 37%; border-bottom: 1px solid black; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Lisa Callicotte</td>
			<td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 20%; border-bottom: 1px solid black; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">210</td>
			<td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 30%; border-bottom: 1px solid black; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">308-1234</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 3%;">&nbsp;</td>
			<td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 37%;">(Name)</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%;">&nbsp;</td>
			<td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 20%;">(Area Code)</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%;">&nbsp;</td>
			<td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 30%;">(Telephone Number)</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(2)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to &#64257;le such report(s) been &#64257;led? If answer is no, identify report(s). Yes&nbsp;&#9746; No&nbsp;&#9744;</p>
			</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 12pt; margin: 0pt;">&nbsp;</p>

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			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(3)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Is it anticipated that any signi&#64257;cant change in results of operations from the corresponding period for the last &#64257;scal year will be re&#64258;ected by the earnings statements to be included in the subject report or portion thereof?&nbsp;</p>
			</td>
		</tr>

</table>

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		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">Yes&nbsp;&#9746; No&nbsp;&#9744;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: auto;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;">If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: auto;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;">The change in consolidated results of operations cannot currently be estimated until completion of the valuation. Once the valuation is completed, USGI will be able to finalize the financial statements for the three and six months ended December 31, 2022.</p>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>U.S. Global Investors, Inc.</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">(Name of Registrant as Speci&#64257;ed in Charter)</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">has caused this noti&#64257;cation to be signed on its behalf by the undersigned hereunto duly authorized.</p>

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			<td style="vertical-align:middle;width:4.8%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 11.9%; border-bottom: 1px solid black;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">February 15, 2023</p>
			</td>
			<td style="vertical-align:middle;width:9.5%;">&nbsp;</td>
			<td style="vertical-align:middle;width:2.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By</p>
			</td>
			<td style="vertical-align: middle; width: 19%; border-bottom: 1px solid black;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">/s/ Lisa Callicotte</p>
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</table>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">INSTRUCTION: The form may be signed by an executive of&#64257;cer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive of&#64257;cer), evidence of the representative&#8217;s authority to sign on behalf of the registrant shall be &#64257;led with the form.</p>

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			<td style="width: 100%; text-align: center;">ATTENTION</td>
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			<td style="width: 100%; text-align: center; border-width: 1px; border-style: solid; border-color: black;"><b>Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).</b></td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>GENERAL INSTRUCTIONS</b></p>

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			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">1.</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act of 1934.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">2.</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">One signed original and four conformed copies of this form and amendments thereto must be completed and &#64257;led with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The information contained in or &#64257;led with the form will be made a matter of public record in the Commission &#64257;les.</p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">3.</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">A manually signed copy of the form and amendments thereto shall be &#64257;led with each national securities exchange on which any class of securities of the registrant is registered.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">4.</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Amendments to the noti&#64257;cations must also be &#64257;led on Form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identi&#64257;ed as an amended noti&#64257;cation.</p>
			</td>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">5.</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><u>Interactive data submissions</u>. This form shall not be used by electronic &#64257;lers with respect to the submission or posting of an Interactive Data File (&#167;232.11 of this chapter). Electronic &#64257;lers unable to submit or post an Interactive Data File within the time period prescribed should comply with either Rule 201 or 202 of Regulation S-T (&#167;232.201 and &#167;232.202 of this chapter).</p>
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