This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “would,” “shall,” “might,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:

We caution you that the foregoing list does not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q.

You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors described in the section titled “Risk Factors” in our Annual Report on Form 10-K for the year ended June 30, ~~2019~~2020 and this Quarterly Report on Form 10-Q. Moreover, we and our subsidiaries operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law. We and our subsidiaries may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make.

		March 31, 2020			June 30, 2019				March 31, 2021		June 30, 2020
					(AUDITED)						(AUDITED)
ASSETS	ASSETS							ASSETS

CURRENT ASSETS
Cash and cash equivalents		$	6,029,164		$	6,481,815			$	14,263,287	$	9,813,188
Accounts receivable, net			804,545			939,649				1,222,900		717,841
Accounts receivable - related parties			1,062,166			1,037,146				2,051,589		2,610,917
Inventories			1,108,434			1,008,662				1,925,561		1,174,603
Prepaid income tax and tax receivable			1,573,834			1,754,369				559,248		857,793
Investments			3,765,105			3,756,596				1,827,652		1,820,516
Other current assets			384,758			546,105				434,296		603,944
Total current assets			14,728,006			15,524,342				22,284,533		17,598,802

Restricted cash			12,016			13,436				13,976		12,854
Property and equipment, net			1,135,049			757,014				1,529,537		1,197,192
Operating lease right-of-use asset			809,990			-				1,237,865		733,917
Goodwill			915,790			915,790				1,043,473		915,790
Intangible assets, net			2,624,932			2,659,723				2,423,201		2,541,285
Deferred tax assets, net			859,696			859,696				900,878		900,878
Other assets, long - term			523,607			523,607				540,160		523,607
Total assets		$	21,609,086		$	21,253,608			$	29,973,623	$	24,424,325

LIABILITIES AND STOCKHOLDERS' EQUITY	LIABILITIES AND STOCKHOLDERS' EQUITY							LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses		$	2,055,110		$	2,867,081			$	2,463,690	$	2,843,616
Expense waivers – related parties			382,786			325,821				238,886		421,892
Current portion operating lease liabilities			342,869			-
Operating lease liabilities, current portion										569,717		323,395
Notes payable - related parties			3,500			3,500				3,500		3,500
Loans - property and equipment, current portion			12,536			26,241				14,727		13,196
Total current liabilities			2,796,801			3,222,643				3,290,520		3,605,599

LONG TERM LIABILITIES
Notes payable - related parties			600,000			600,000				600,000		600,000
Loans - property and equipment, net of current portion			348,614			61,057				378,222		359,845
Long-term operating lease liabilities, net of current portion			504,334			-
Operating lease liabilities, net of current portion										718,142		447,062
Deferred tax liabilities			176,578			176,578				329,984		261,923
Total long-term liabilities			1,629,526			837,635				2,026,348		1,668,830
Total liabilities			4,426,327			4,060,278				5,316,868		5,274,429

STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value; 50,000,000 authorized
Series B: 53,032 issued and outstanding at March 31, 2020 and at June 30, 2019			53			53
Common stock, $0.001 par value; 900,000,000 shares authorized; 37,412,519 shares issued and outstanding at March 31, 2020 and 37,237,519 at June 30, 2019			37,412			37,237
Series B: 49,360 issued and outstanding at March 31, 2021 and 53,032 at June 30, 2020										49		53
Common stock, $0.001 par value; 900,000,000 shares authorized; 37,485,959 shares issued and outstanding at March 31, 2021 and 37,412,519 at June 30, 2020										37,486		37,412
Additional paid-in capital			9,330,913			9,178,838				9,330,843		9,330,913
Accumulated other comprehensive loss			(301,222	)		(175,659	)
Accumulated other comprehensive income (loss)										208,085		(144,744	)
Retained earnings			8,115,603			8,152,861				15,080,292		9,926,262
Total stockholders' equity			17,182,759			17,193,330				24,656,755		19,149,896
Total liabilities and stockholders' equity		$	21,609,086		$	21,253,608			$	29,973,623	$	24,424,325

The accompanying notes are an integral part of these unaudited consolidated financial statements.

	For the Three-Month Periods Ended						For the Nine-Month Periods Ended
	March 31,						March 31,						For the Three-Month Periods Ended March 31,						For the Nine-Month Periods Ended March 31,
	2020			2019			2020			2019			2021			2020			2021			2020

Net revenue
Fund management - related party	$	2,986,503		$	3,567,702		$	8,866,790		$	11,729,689		$	5,997,085		$	2,986,503		$	19,182,801		$	8,866,790
Food products		1,257,205			1,114,958			3,827,564			3,471,776			2,015,529			1,257,205			6,212,698			3,827,564
Security systems		606,268			819,695			2,110,526			2,378,421			717,664			606,268			2,013,819			2,110,526
Beauty products and other		1,051,980			749,889			2,918,582			2,549,674			813,084			1,051,980			2,846,052			2,918,582
Net revenue		5,901,956			6,252,244			17,723,462			20,129,560			9,543,362			5,901,956			30,255,370			17,723,462

Cost of revenue		1,750,845			1,637,694			5,243,803			5,233,458			2,336,541			1,750,845			7,121,339			5,243,803

Gross profit		4,151,111			4,614,550			12,479,659			14,896,102			7,206,821			4,151,111			23,134,031			12,479,659


Operating expense
General and administrative expense		1,098,721			997,321			3,207,762			3,153,638			1,512,387			1,098,721			5,071,090			3,207,762
Fund operations		695,529			1,130,070			2,232,816			3,540,458			860,027			695,529			2,562,525			2,232,816
Marketing and advertising		604,163			678,664			1,811,249			2,313,322			689,939			604,163			2,227,322			1,811,249
Depreciation and amortization		148,131			173,387			447,955			523,595			178,588			148,131			521,584			447,955
Salaries and compensation		1,785,913			1,473,004			5,002,617			4,578,376			1,925,571			1,785,913			6,106,978			5,002,617
Total operating expenses		4,332,457			4,452,446			12,702,399			14,109,389			5,166,512			4,332,457			16,489,499			12,702,399

(Loss) income from operations		(181,346	)		162,104			(222,740	)		786,713
Income (loss) from operations														2,040,309			(181,346	)		6,644,532			(222,740	)


Other (expense) income:
Other (expense) income		(40,224	)		1,731			(61,797	)		(508,543	)
Other income (expense):
Other income (expense)														26,748			(40,224	)		203,275			(61,797	)
Interest and dividend income		23,806			3,011			76,078			358,425			6,730			23,806			22,193			76,078
Interest expense		(9,979	)		(7,064	)		(31,219	)		(22,436	)		(9,988	)		(9,979	)		(30,215	)		(31,219	)
Total other expense, net		(26,397	)		(2,322	)		(16,938	)		(172,554	)
Total other income (expense), net														23,490			(26,397	)		195,253			(16,938	)

(Loss) income before income taxes		(207,743	)		159,782			(239,678	)		614,159
Income (loss) before income taxes														2,063,799			(207,743	)		6,839,785			(239,678	)

Benefit (provision) of income taxes		190,507			(83,898	)		202,420			(189,608	)
(Provision) benefit of income taxes														(480,991	)		190,507			(1,685,754	)		202,420

Net (loss) income	$	(17,236	)	$	75,884		$	(37,258	)	$	424,551
Net income (loss)													$	1,582,808		$	(17,236	)	$	5,154,031		$	(37,258	)

Weighted average shares of common stock
Basic		37,412,519			34,045,383			37,383,246			31,021,688			37,474,535			37,412,519			37,432,889			37,383,246
Diluted		37,412,519			38,298,159			37,383,246			38,298,159			38,473,159			37,412,519			38,473,159			37,383,246

Net (loss) income per common share
Net income (loss) per common share
Basic		(0.00	)	$	0.00		$	(0.00	)	$	0.01		$	0.04		$	(0.00	)	$	0.14		$	(0.00	)
Diluted	$	(0.00	)	$	0.00		$	(0.00	)	$	0.01		$	0.04		$	(0.00	)	$	0.13		$	(0.00	)

The accompanying notes are an integral part of these unaudited consolidated financial statements.

	For the Nine-Month Periods Ended						For the Nine-Month Periods Ended
	March 31,						March 31,
	2020			2019			2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$	(37,258	)	$	424,551
Net income (loss)							$	5,154,031		$	(37,258	)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		447,955			523,595			521,584			447,955
Stock based vendor compensation		152,250			-			-			152,250
Bad debt recovery		(197	)		-
Unrealized loss (gain) on investments		44,409			(29,463	)
Loss (gain) on disposal of equipment		-			(3,381	)
Bad debt expense (recovery)								14,082			(197	)
Impairment to inventory value								67,576			-
Unrealized (gain) loss on investments								(5,146	)		44,409
Gain on disposal of equipment								(2,148	)		-
Operating lease right-of-use asset - non-cash lease cost		303,851			-			420,948			303,851

Decrease (increase) in current assets:
Accounts receivable		77,244			11,381			(91,002	)		77,244
Accounts receivable - related party		(25,020	)		250,798			559,327			(25,020	)
Prepaid income taxes and tax receivable		196,670			110,124			302,313			196,670
Inventories		(155,644	)		(284,506	)		(254,177	)		(155,644	)
Other current assets		(18,910	)		(109,728	)		47,336			(18,910	)
Decrease (increase) in current liabilities:
Accounts payable and accrued expenses		(715,356	)		(350,473	)		(808,350	)		(715,356	)
Operating lease liabilities		(303,714	)		-			(424,071	)		(303,714	)
Expense waivers - related party		56,965			(200,187	)		(183,006	)		56,965
Net cash provided by operating activities		23,245			342,711			5,319,297			23,245

CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for acquisition of business assets		-			(1,205,000	)		(993,435	)		-
Cash paid for internally developed software		(217,990	)		-			-			(217,990	)
Purchase of property and equipment – net of disposal		(455,064	)		(26,985	)
Purchase of property and equipment								(41,074	)		(455,064	)
Proceeds from sale of property and equipment								2,148			-
Sale of investments		1,000,000			3,197,479			-			1,000,000
Purchase of investments		(1,040,767	)		(1,000,000	)		(492	)		(1,040,767	)
Net cash (used in) provided by investing activities		(713,821	)		965,494
Net cash used in investing activities								(1,032,853	)		(713,821	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from property and equipment loans		370,220			-			-			370,220
Repayment of property and equipment loans		(89,666	)		(104,272	)		(25,394	)		(89,666	)
Net cash provided by (used in) financing activities		280,554			(104,272	)
Net cash (used in) provided by financing activities								(25,394	)		280,554

Effect of exchange rate change on cash and cash equivalents		(44,049	)		3,256			190,171			(44,049	)

NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		(454,071	)		1,207,189
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH								4,451,221			(454,071	)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE		6,495,251			7,524,114			9,826,042			6,495,251

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	$	6,041,180		$	8,731,303		$	14,277,263		$	6,041,180

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest paid	$	12,926		$	-		$	11,989		$	12,926
Income taxes-U.S.	$	159,363		$	43,000
Income taxes paid, net of refunds							$	1,247,005		$	159,363
Non-cash financing and investing activities:
Acquisition of operating right-of-use assets through operating lease obligations	$	1,150,916		$	-		$	730,741		$	1,150,916
Reclassification of deposit from other current assets to property and equipment	$	178,276		$	-
Reclassification of acquisition deposit							$	122,111		$	-
Reclassification of building deposit from other current assets to property and equipment, net							$	-		$	178,276

The accompanying notes are an integral part of these consolidated financial statements.

	For the Nine Months Ended				For the Nine Months Ended				For the Nine Months Ended				For the Nine Months Ended
	March 31, 2020				March 31, 2019				March 31, 2021				March 31, 2020
	Revenue				Revenue				Revenue				Revenue
Fund
USO	$	4,650,756	52	%	$	5,641,829	48	%	$	12,909,971	67	%	$	4,650,756	52	%
BNO										2,060,809	11	%		468,244	5	%
UNG		1,663,229	19	%		1,510,303	13	%		1,664,761	9	%		1,663,229	19	%
USCI		1,398,646	16	%		3,262,108	28	%		774,913	4	%		1,398,646	16	%
All Others		1,154,159	13	%		1,315,449	11	%		1,772,347	9	%		685,915	8	%
Total	$	8,866,790	100	%	$	11,729,689	100	%	$	19,182,801	100	%	$	8,866,790	100	%

	As of March 31, 2020				As of March 31, 2019				As of March 31, 2021				As of June 30, 2020
	Accounts Receivable				Accounts Receivable				Accounts Receivable				Accounts Receivable
Fund
USO	$	629,310	59	%	$	598,810	49	%	$	1,274,542	62	%	$	1,818,719	70	%
UNG		193,400	18	%		309,916	26	%
USCI		90,707	9	%		142,351	12	%
BNO										224,019	11	%		265,143	10	%
All Others		148,749	14	%		156,284	13	%		553,028	27	%		527,055	20	%
Total	$	1,062,166	100	%	$	1,207,361	100	%	$	2,051,589	100	%	$	2,610,917	100	%

Inventories, consisting primarily of food products, printing inks and supplies, and packaging in New Zealand, hair and skin care finished products and components in the U.S., and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or net realizable value. Inventories include product cost, inbound freight and warehousing costs where applicable. Management compares the cost of inventories with the net realizable value and an allowance is made for writing down the inventories to their net realizable value, if lower. For the nine months ended March 31, ~~2020~~2021 and ~~2019~~2020 impairment to inventory value was recorded as $0$67,576 and $0, ~~respectively. An assessment is made at the end of each reporting period~~respectively, and also includes inventory that has been scrapped due to ~~determine what slow-moving inventory items, if any, should be deemed obsolete and written down to their estimated net realizable value. For the~~ ~~nine months ended March 31, 2020 and 2019, the expense for slow-moving~~obsolescence or ~~obsolete inventory was $0 and $0, respectively.~~damage.

Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and leasehold improvements are capitalized. Office furniture and equipment include office fixtures, computers, printers and other office equipment plus software and applicable packaging designs. Leasehold improvements, which are included in plant and equipment, are depreciated over the shorter of the useful life of the improvement and the length of the lease. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight line method over the estimated useful life of the asset (see Note 5 to the Condensed Consolidated Financial Statements).

Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists along with the internally developed software in process for the business applications of Marygold to be launched in the coming fiscal year. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company assesses recoverability by determining whether the carrying value of such assets will be recovered through the discounted expected future cash flows. If the future discounted cash flows are less than the carrying amount of these assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. There was no impairment recorded for the three and nine ~~months~~month periods ended March 31, ~~2020~~ or ~~2019~~.2021 and 2020.

Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase businesses combination. Goodwill is tested for impairment on an annual basis during the fourth quarter of our fiscal year, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may be impaired. The goodwill impairment test is a two-step test. Under the first step, the fair value of the reporting unit is compared with its carrying value including goodwill. If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the enterprise must perform step two of the impairment test. Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The residual fair value after this allocation is the implied fair value of the reporting unit goodwill. There was no impairment recorded for the three and nine months ended March 31, ~~2020~~ or ~~2019~~.2021 and 2020.

The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. There was no impairment recorded for the three and nine months ended March 31, ~~2020~~ or ~~2019~~.2021 and 2020.

Short-term investments are classified as available-for-sale securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 – Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Company (observable inputs) and (2) The Company’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820 hierarchy are as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 assets include the following: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).

Level 3 – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.

In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety.

Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and ~~related bakery confections~~printing of food wrappers in New Zealand, security alarm system installation and maintenance services in Canada, and ~~wholesale distribution~~sales of hair and skin care ~~products.~~products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees are accrued. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of ~~their~~its recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. The Company has no costs of contracts which require capitalization.

~~Recently Adopted Accounting Pronouncements -~~ In May 2014, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance that set forth a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The Company adopted this new standard and its related amendments as of July 1, 2018 using the modified retrospective transition method, whereby the cumulative effect of initially applying the new standard recognized as an adjustment to the opening balance of stockholders equity. Results for reporting periods commencing on or after July 1, 2018 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for that prior period. The impact of adoption did not have a material effect on our financial results. The adoption of the new standard impacted the identification of separate obligations for certain sales of security systems and related monitoring sales. The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five-step process governing contract revenue reporting includes:

4. Allocate the transaction price to the performance obligations in the contract

Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Condensed Consolidated Statements of Operations. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Condensed Consolidated Statements of ~~Operations,~~Income, which for the three and nine months ended March 31, ~~2020~~2021, were approximately US$~~169,584~~182,631 and US$~~582,085,~~538,436, or approximately 25% and 27%, respectively, of the total security system revenues as compared to $169,584 and $582,085 for the three and nine month periods ended March 31, 2020, respectively, or 28% of the total security system revenues. These revenues for the three and nine months ended March 31, ~~2020~~2021 account for approximately 3%2% of total consolidated ~~revenues.~~revenues as compared to 3% for the three and nine month periods ended March 31, 2020. None of the other subsidiaries of the Company generate revenues from long term contracts.

Because the Company has no contract with the end user, and the monthly payments for customer support services are made to the Company by the monitoring company who has a contract with the end user, and end user customers are subject to cancellation through no control of the Company; therefore, no deferred revenues or contingent liability reserves have been established with respect to these contracts. The services are deemed delivered as the obligation is acknowledged on a monthly basis.

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will either expire before the Company is able to realize their benefits or if future deductibility is uncertain.

When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of ~~operations.~~Income.

We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830-30, Foreign Currency Translation. The accounts of Gourmet Foods use the New Zealand dollar as the functional currency. The accounts of Brigadier Security System use the Canadian dollar as the functional currency. Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the weighted average exchange rate throughout the period. Foreign currency transaction gains and (losses) can also occur if a transaction is settled in a currency other than the entity's functional currency. Accumulated currency translation gains and (losses) are classified as an item of accumulated other comprehensive income (loss) in the stockholders’ equity section of the consolidated balance sheet.

In January 2016, the FASB issued authoritative guidance related to the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. Under the new guidance, equity investments with readily determinable fair values, except those accounted for under the equity method, will be measured at fair value with changes in fair value recognized in earnings rather than other comprehensive income (loss). In addition, this update clarifies the guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from the unrealized losses on certain debt securities. The Company adopted this guidance effective on July 1, 2018, resulting in reclassification of $279,951 of accumulated other comprehensive income to retained earnings. Besides this reclassification there was no material impact to the Condensed Consolidated Financial Statements as a result of the adoption.

The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries (Refer to Note 16 of the Condensed Consolidated Financial Statements).

We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired users, acquired trade names from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed. For the ~~three and~~ nine months ended March 31, ~~2020~~2021 and ~~2019~~2020 a determination was made that no adjustments were ~~necessary~~necessary.

In ~~February~~June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Board Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and also issued subsequent amendments to the initial guidance: ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, and ASU 2019-11, which replace the existing incurred loss impairment model with an expected credit loss model and require a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The new guidance will be effective for annual reporting periods beginning after December 15, 2022 (as amended by ASU 2019-10), including interim periods within that annual period. The Company is evaluating the effect that ASU 2016-13 will have on its consolidated financial statements and related disclosures.

In August 2020, the FASB issued ASU ~~2016-02, Leases (Topic 842)~~No. 2020-06, ,Debt ~~which requires lessees~~– Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). The amendment is meant to ~~recognize leases on-balance sheet~~simplify the accounting for convertible instruments by removing certain separation models in subtopic 470-20 for convertible instruments. The amendment also changed the method used to calculate diluted earnings per share ("EPS") for convertible instruments and ~~disclose key information about leasing arrangements.~~for instruments that may be settled in cash. The ~~new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on~~amendment is effective for years beginning after December 15, 2021, including interim periods for those fiscal years. We are currently evaluating the ~~balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification~~impact of ~~expense recognition in the income statement.~~

~~The Company adopted the new standard on July 1, 2019 using the modified retrospective method and the transition relief guidance provided by the FASB in~~ ~~ASU 2018-11, Leases (Topic 842): Targeted Improvements.~~ Consequently, the Company did not update financial information or provide disclosures required under the new standard for dates and periods prior to July 1, 2019. The Company elected the package of practical expedients and did not reassess prior conclusions on whether contracts are or contain a lease, lease classification, and initial direct costs. In addition, the Company adopted the lessee practical expedient to combine lease and non-lease components for all asset classes and elected to not recognize ROU assets and lease liabilities for leases with a term of 12 months or less.

Adoption of the new standard resulted in the Company recording operating lease ROU assets and operating lease liabilities of $1,113,840 and $1,150,916 respectively, as of July 1, 2019. The ROU assets were recorded net of $37,076 in deferred rent adjustments that were previously recorded in accrued expenses and deferred rent on the Consolidated Balance Sheets as of ~~June 30, 2019. The~~ adoption of this standard did not result in any cumulative-effect adjustments to retained earnings. Additionally, there was no impact on the Company’s unaudited condensed consolidated statements of operations and comprehensive income or the unaudited statement of cash flows as a result of the adoption of Topic 842 for the three months ended ~~March 31, 2020~~.

~~A summary of the effects of the initial adoption of ASU 2016-02 and ASC 842 on July 1, 2019 are as follows:~~

	ASC 842
Increase (decrease):
Assets	$	1,113,840
Current portion operating lease liabilities	$	370,697
Long-term operating lease liabilities	$	780,219
Accumulated other comprehensive income	$	-
Retained earnings	$	-

The Company has reviewed new accounting pronouncements issued between September 30, 2019, the filing date of our most recent prior Annual Report on Form 10-K, and the filing date of this Quarterly Report on Form 10-Q and has determined that no new pronouncements issued are relevant to the Company, and/or have, or will have, a material impact on the Company’s consolidated financial ~~position, results of operations or disclosure requirements.~~statements and related disclosures.

For the three and nine months ended March 31, ~~2020~~2021 depreciation expense for property, plant and equipment totaled $96,633 and $268,535, respectively, as compared to $64,157 and $195,174, respectively, ~~as compared to $90,659 and $271,734~~ for the three and nine months ended March 31, ~~2019, respectively.~~2020.

On August 11, 2015, the Company acquired Gourmet Foods. The fair value on the acquired customer relationships was estimated to be $66,153 and is amortized over the remaining useful life of 10 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired customer relationships was estimated to be $434,099 and is amortized over the remaining useful life of 10 years. On December 18, 2017 the Company’s wholly-owned subsidiary, Kahnalytics, Inc., acquired the assets of Original Sprout LLC. The fair value of the acquired customer relationships was determined to be $200,000 and is amortized over the remaining useful life of 7 years. On July 1, 2020, our wholly-owned subsidiary, Gourmet Foods, acquired Printstock Products Limited. The fair value of the acquired customer relationships was estimated to be $77,123 and is amortized over a useful life of 9 years.

	March 31,			June 30,			March 31,			June 30,
	2020			2019			2021			2020
Customer relationships	$	700,252			700,252		$	777,375		$	700,252
Less: accumulated amortization		(262,709	)		(203,492	)		(347,739	)		(282,304	)
Total customer relationships, net	$	437,543			496,760		$	429,636		$	417,948

On August 11, 2015, the Company acquired Gourmet Foods. The fair value on the acquired brand name was estimated to be $61,429 and is amortized over the remaining useful life of 10 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired brand name was estimated to be $340,694 and is amortized over the remaining useful life of 10 years. On December 18, 2017 the Company’s wholly-owned subsidiary, Kahnalytics, Inc., acquired the assets of Original Sprout LLC. The fair value of the acquired brand name was determined to be $740,000 and is considered to have an indefinite life. Unlike the brand names Gourmet Foods and Brigadier Security Systems, Original Sprout is an actual product name and recognized associated brand that is identifiable to consumers of the product and is the basis of the value proposition. That brand name will forever be associated with the product offering unless and until such time in the future as the Company may elect to discontinue the use of the brand and move towards establishment of an alternative product offering. On July 1, 2020, our wholly-owned subsidiary, Gourmet Foods, acquired Printstock Products Limited. The fair value of the brand name was determined to be $57,842 and, like that of Original Sprout, would continue to stay in use for an indefinite period of time. Therefore, the Company will test for impairment of the brand ~~name~~names "Original Sprout" and "Printstock" at each reporting interval with no amortization recognized.

	March 31,			June 30,			March 31,			June 30,
	2020			2019			2021			2020
Brand name	$	1,142,122		$	1,142,122		$	1,199,964		$	1,142,122
Less: accumulated amortization		(159,381	)		(129,084	)		(199,593	)		(169,406	)
Total brand name, net	$	982,741		$	1,013,038		$	1,000,371		$	972,716

On August 11, 2015, the Company acquired Gourmet Foods, Ltd. The fair value on the acquired domain name was estimated to be $21,601 and is amortized over the remaining useful life of 5 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired domain name was estimated to be $15,312 and is amortized over the remaining useful life of 5 years. As of March 31, 2021, the fair value of the acquired domain names had been fully amortized.

On August 11, 2015, the Company acquired Gourmet Foods. The fair value on the recipes was estimated to be $21,601 and is amortized over the remaining useful life of 5 years. On December 18, 2017 the Company’s wholly-owned subsidiary, Kahnalytics, Inc., acquired the assets of Original Sprout LLC. The fair value of the acquired recipes and formulas was determined to be $1,200,000 and is amortized over the remaining useful life of 8 years.

	March 31,			June 30,			March 31,			June 30,
	2020			2019			2021			2020
Recipes and formulas	$	1,221,601		$	1,221,601		$	1,221,601		$	1,221,601
Less: accumulated amortization		(362,892	)		(246,622	)		(514,339	)		(401,366	)
Total recipes and formulas, net	$	858,709		$	974,979		$	707,262		$	820,235

On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired non-compete agreement was estimated to be $84,982 and is amortized over the remaining useful life of 5 years. On December 18, 2017 the Company’s wholly-owned subsidiary, Kahnalytics, Inc., acquired the assets of Original Sprout LLC. The fair value of the acquired non-compete agreement was determined to be $190,000 and is amortized over the remaining useful life of 5 years.

	March 31,			June 30,			March 31,			June 30,
	2020			2019			2021			2020
Non-compete agreement	$	274,982		$	274,982		$	274,982		$	274,982
Less: accumulated amortization		(152,043	)		(110,608	)		(207,040	)		(165,755	)
Total non-compete agreement, net	$	122,939		$	164,374		$	67,942		$	109,227

During the ~~current~~ quarter ended March 31, 2020, Marygold began incurring expenses in connection with the internal development of software applications that are planned for eventual integration to its consumer Fintech offering. Certain of these expenses, totaling $217,990 as of March 31, ~~2020,~~2021, have been capitalized as intangible assets. Once development has been completed and the product is commercially viable, these capitalized costs will be amortized over their useful lives. As of March 31, 2021 and June 30, 2020, no amortization expense has been recorded for these intangible assets.

The total amortization expense for intangible assets for the three months ended March 31, 2021 and 2020 was $81,956 and $83,974, respectively. Total amortization expense for the intangible assets for the nine months ended March 31, 2021 and 2020 was ~~$83,974~~$253,049 and $252,781, ~~respectively, as compared to $82,728 and $251,861 for the three and nine months ended March 31, 2019,~~ respectively.

Estimated amortization expenses of intangible assets for the next five fiscal years, are as follows:

Years Ending June 30,	Expense		Expense
2020	$	83,647
2021		325,862	$	81,468
2022		306,809		315,378
2023		286,507		295,077
2024		268,809		277,378
2025				262,114
Thereafter		1,353,298		1,191,786
Total	$	2,624,932	$	2,423,201

Wainwright, from time to time, provides initial ~~investments~~investment in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one year ~~from~~of the balance sheet date. ~~As of~~ ~~March 31, 2020~~ ~~and~~ ~~June 30, 2019~~ ~~we have no such investments.~~ Investments in which no controlling financial interest or significant influence exists are recorded at fair value with the change included in ~~comprehensive income (loss) through~~ ~~June 30, 2019~~ ~~and subsequently through~~ earnings ~~in accordance with ASU 2016-01. As~~on the Consolidated Statements of~~March 31, 2020~~ ~~and~~ ~~June 30, 2019, investments were approximately $3.8 million.~~ Income. Investments in which no controlling financial interest exists, but significant influence exists are recorded as per the equity method of investment accounting. As of March 31, ~~2020~~2021 and June 30, ~~2019~~,2020, there were no investments in its ETP funds or investments requiring ~~the~~ equity method investment accounting. As of March 31, 2021 and June 30, 2020, investments were approximately $1.8 million at each period end, respectively.

All of the Company's short-term investments are Level 1 as of March 31, ~~2020~~2021 and June 30, ~~2019.~~2020. Investments measured at estimated fair value consist of the following as of March 31, ~~2020~~2021 and June 30, ~~2019~~:2020:

	March 31, 2020									March 31, 2021
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Money market funds	$	2,045,750	$	-	$	-		$	2,045,750	$	1,044,938	$	5,161	$	-		$	1,050,099
Other short term investments		750,502		-		-			750,502		771,592		4,798		-			776,390
Other equities		1,001,621		-		(32,768	)		968,853		1,421		-		(258	)		1,163
Total short-term investments	$	3,797,873	$	-	$	(32,768	)	$	3,765,105	$	1,817,951	$	9,959	$	(258	)	$	1,827,652

	June 30, 2019									June 30, 2020
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Money market funds	$	3,005,182	$	-	$	-		$	3,005,182	$	1,044,446	$	5,161	$	-		$	1,049,607
Other short term investments		749,988		-		(739	)		749,249		770,094		-		-			770,094
Other equities		3,421		-		(1,256	)		2,165		1,421		-		(606	)		815
Total short-term investments	$	3,758,591	$	-	$	(1,995	)	$	3,756,596	$	1,815,961	$	5,161	$	(606	)	$	1,820,516

At March 31, ~~2020~~2021 and June 30, ~~2019~~,2020, Gourmet Foods had on deposit approximately NZ$20,000 (approximately US$~~12,016~~13,976 and US$~~13,436,~~12,854, respectively, after currency translation) securing a lease bond for one of its properties. The cash securing the bond is restricted from access or withdrawal so long as the bond remains in place.

Other long term assets totaling ~~$523,607~~$540,160 as of March 31, ~~2020~~2021 and $523,607 at June 30, ~~2019, respectively,~~2020 were attributed to Wainwright and Original Sprout and consisted of

Interest expense for all related party notes for the three and nine months ended March 31, ~~2020~~2021 was $5,987 and ~~2019~~ ~~was~~$18,227, respectively, as compared to $6,053 and $18,293, respectively, ~~as compared to $5,987 and $18,227~~ for the three and nine months ended March 31, ~~2019, respectively.~~ 2020.

The Funds managed by USCF and USCF Advisers are deemed by management to be related parties. The Company’s Wainwright revenues for the three and nine months ended March 31, 2021 totaling $6.0 million and $19.2 million, respectively, as compared to $3.0 million and $8.9 million for the three and nine months ended March 31, 2020, ~~totaling $3.0 million and $8.9 million, respectively, as compared to $3.6 million and $11.7 million for the three and~~ ~~nine months ended March 31, 2019~~, respectively, were earned from these related parties. Accounts receivable, totaling ~~$1.1~~$2.1 million and ~~$1.0~~$2.6 million, as of March 31, ~~2020~~2021 and as of June 30, ~~2019~~,2020, respectively, were owed from these related parties. Fund expense waivers totaling $0.2 million and $0.8 million for the three and nine months ended March 31, 2021, respectively, as compared to $0.1 million and $0.2 million for ~~both~~the three and nine month periods ended March 31, 2020, ~~and 2019~~, respectively, were incurred on behalf of these related parties. Waivers payable, totaling ~~$0.4~~$0.2 million and ~~$0.3~~$0.4 million as of March 31, ~~2020~~2021 and as of June 30, ~~2019~~,2020, respectively, were owed to these related parties. Fund expense waivers and fund expense limitation obligations are defined under Note 15 to the Condensed Consolidated Financial Statements.

The following table presents a summary of operating information for the three months ended March 31:31:

	Three Months Ended			Three Months Ended			Three Months Ended			Three Months Ended
	March 31, 2020			March 31, 2019			March 31, 2021			March 31, 2020
Revenues from external customers:
U.S.A. : beauty products	$	1,051,980		$	749,889		$	813,084		$	1,051,980
U.S.A. : investment fund management - related party		2,986,503			3,567,702			5,997,085			2,986,503
New Zealand : food industry		1,257,205			1,114,958			2,015,529			1,257,205
Canada : security systems		606,268			819,695			717,664			606,268
Consolidated total	$	5,901,956		$	6,252,244		$	9,543,362		$	5,901,956

Net (loss) income:
Corporate headquarters - including Marygold	$	(199,995	)	$	(304,934	)	$	(1,091,648	)	$	(199,995	)
U.S.A. : beauty products		131,158			46,078			(120,060	)		131,158
U.S.A. : investment fund management - related party		(81,678	)		193,203			2,588,841			(81,678	)
New Zealand : food industry		91,900			64,223			153,847			91,900
Canada : security systems		41,379			77,314			51,828			41,379
Consolidated total	$	(17,236	)	$	75,884		$	1,582,808		$	(17,236	)

(1) Provision for income tax (expense) benefit for the three months ended March 31, 2021 and 2020 were ($0.5) million and $0.2 million, respectively, primarily attributable to our United States operations through our Wainwright subsidiary. The Company files income taxes as a combined group and records most income taxes at the Concierge Corporate reporting level. Income tax (expense) recorded at the Concierge Corporate level totaled ($0.4) million for the three months ended March 31, 2021, while a tax benefit of $0.2 million was recorded for the three months ended March 31, 2020.

The following table presents a summary of operating information for the nine months ended March 31:31:

	Nine Months Ended			Nine Months Ended			Nine Months Ended			Nine Months Ended
	March 31, 2020			March 31, 2019			March 31, 2021			March 31, 2020
Revenues from external customers:
U.S.A. : beauty products	$	2,918,582		$	2,549,674		$	2,846,052		$	2,918,582
U.S.A. : investment fund management - related party		8,866,790			11,729,689			19,182,801			8,866,790
New Zealand : food industry		3,827,564			3,471,776			6,212,698			3,827,564
Canada : security systems		2,110,526			2,378,421			2,013,819			2,110,526
Consolidated total	$	17,723,462		$	20,129,560		$	30,255,370		$	17,723,462

Net (loss) income:
Corporate headquarters - including Marygold	$	(954,195	)	$	(1,004,133	)	$	(3,553,556	)	$	(954,195	)
U.S.A. : beauty products		154,307			253,363			(116,022	)		154,307
U.S.A. : investment fund management - related party		204,691			796,576			8,087,112			204,691
New Zealand : food industry		349,387			105,676			485,974			349,387
Canada : security systems		208,552			273,069			250,522			208,552
Consolidated total	$	(37,258	)	$	424,551		$	5,154,030		$	(37,258	)

(1) Provision for income tax (expense) benefit for the nine months ended March 31, 2021 and 2020 are ($1.7) million and $0.2 million, respectively, primarily attributable to our United States operations through our Wainwright subsidiary. The Company files income taxes as a combined group and records most income taxes at the Concierge Corporate level. Income tax (expense) recorded at the Concierge Corporate level totaled ($1.5) million for the nine months ended March 31, 2021, while a tax benefit of $0.3 million was recorded for the nine months ended March 31, 2020.

The following table presents a summary of net capital expenditures for the three month periods ended March 31:31:

	Three Months Ended		Three Months Ended			Three Months Ended		Three Months Ended
	March 31, 2020		March 31, 2019			March 31, 2021		March 31, 2020
Capital expenditures, net of disposals:
U.S.A.: corporate headquarters - incuding Marygold	$	1,575	$	-
U.S.A.: corporate headquarters - including Marygold						$	-	$	1,575
U.S.A.: beauty products		126		1,364			4,967		126
U.S.A.: fund management		-		-			-		-
New Zealand: food industry		15,673		17,115			1,182		15,673
Canada: security systems		-		(478	)		743		0
Consolidated	$	17,374	$	18,001		$	6,892	$	17,374

The following table presents a summary of net capital expenditures for the nine month periods ended March 31:31:

	Nine Months Ended		Nine Months Ended			Nine Months Ended			Nine Months Ended
	March 31, 2020		March 31, 2019			March 31, 2021			March 31, 2020
Capital expenditures, net of disposals:
U.S.A.: corporate headquarters - including Marygold	$	1,575	$	-		$	653		$	1,575
U.S.A.: beauty products		4,040		4,301			33,724			4,040
U.S.A.: fund management		-		-			-			-
New Zealand: food industry		57,711		39,131			417,979			57,711
Canada: security systems		570,014		(16,447	)		(11,748	)		570,014
Consolidated	$	633,340	$	26,985		$	440,608		$	633,340

The following table represents the property, plant and equipment in use at each of the Company's locations as of March 31, ~~2020~~2021 and June 30, ~~2019~~:2020:

	As of March 31, 2020			As of June 30, 2019			As of March 31, 2021			As of June 30, 2020

Asset Location
Corporate headquarters - including Marygold	$	15,880		$	14,305		$	17,744		$	17,091
U.S.A. : beauty products		14,785			10,745			50,712			16,987
U.S.A. : investment fund management		-			-			-			-
New Zealand : food industry		1,541,428			1,659,186			2,324,627			1,721,195
Canada : security systems		891,704			348,435			991,561			929,712
Total All Locations		2,463,797			2,032,671
Total								3,384,644			2,684,985
Less accumulated depreciation		(1,328,748	)		(1,275,657	)		(1,855,107	)		(1,487,793	)
Net property, plant and equipment	$	1,135,049		$	757,014
Net property and equipment							$	1,529,537		$	1,197,192

The Company evaluated subsequent events for recognition and disclosure through the date the financial statements were issued or filed. Nothing has occurred outside normal operations since that required recognition or disclosure in these financial statements.

The following discussion and analysis should be read in conjunction with the condensed financial statements and the accompanying notes thereto and is qualified in its entirety by the foregoing and by more detailed financial information appearing elsewhere in this quarterly report on Form 10-Q. See "Financial Statements."

Concierge Technologies, Inc. (“Concierge”) or the ~~(“Company”~~“Company”) conducts business through its wholly-owned operating subsidiaries operating in the U.S., New Zealand and Canada. The operations of the Company’s wholly-owned subsidiaries are more particularly described herein but are summarized as follows:

Because the Company conducts its businesses through its wholly-owned operating subsidiaries, the risks related to our wholly-owned subsidiaries are also risks that impact the Company's financial condition and results of operations. See, "Note 2. Summary ofSignificant Accounting Policies/ Major Customers and Suppliers - Concentration of Credit Risk" in the consolidated financial statements for more information. The emergence of a novel coronavirus on a global scale, known as COVID-19, ~~during~~and related geopolitical events could lead to increased market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the current quarter has had a nominal impact on our operations which varied from company to company. Overall, the effects of dealing with COVID-19 realized through social isolation, stay-at-home orders, shuttering of non-essential businessesCompany and ~~similar initiatives took effect on our areas of operation at such a late date in the month of March that the consolidated revenues were not significantly impacted.~~its wholly-owned subsidiaries. The financial risk to future operations is largely unknown, (refer to Part II, Item 1A, for further details.)

Financial summary and comparison data for the ~~year-to-date operating results as of~~three and nine month periods ended March 31, 2021 and March 31, 2020.

The table below summarizes each of Concierges subsidiaries into one of two ~~categories.~~categories for the nine months ended March 31, 2021 and 2020. The Wainwright business is included in the Financial Services columns and all other subsidiaries, including Gourmet, Brigadier, and Original Sprout in the Other Operating Units columns. Corporate expenses, including Marygold, are included in the Concierge Corporate columns.

Financial Services

Other Operating Units

Concierge Corporate

Consolidated

Financial Services

Other Operating Units

Concierge Corporate

Consolidated

(

For the Three Months Ended March 31, ~~2020~~2021 Compared to the Three Months Ended March 31, ~~2019~~2020

Revenue and Operating Income

Consolidated revenue for the three months ended March 31, ~~2020~~2021 was ~~$5.9~~$9.5 million representing a ~~$0.4~~$3.6 million ~~decrease~~increase from the same prior year period revenue of ~~$6.3~~$5.9 million. ~~While net~~Net revenues ~~decreased~~increased as a result of ~~lower~~higher Fund ~~assets under management ("AUM")~~AUM from our fund management business by approximately ~~$0.6~~$3.0 million, or 101%, for the three months ended March 31, ~~2020~~2021 as compared to the three months ended March 31, ~~2019, the corporation's~~2020. The Company's revenues derived from its other operating units ~~were up slightly~~increased by ~~$0.2~~$0.6 million, or 22%, from the same prior year period, resulting in ~~a net reduction to~~an overall increase in consolidated revenue ~~in the current quarter~~ of approximately 6%62%. Concierge produced an operating ~~loss~~income for the three months ended March 31, ~~2020~~2021 of ~~($181) thousand~~$2.0 million as compared to ~~income~~an operating loss of ~~$162~~$181 thousand for the three months ended March 31, ~~2019~~.2020. The ~~decrease~~increase in operating income was primarily attributable to ~~lower~~higher fund management revenue from Wainwright due to ~~lower AUM.~~higher AUM as well as the addition of the Printstock business in New Zealand.

Other ~~Expenses~~Income (Expense)

Other ~~expenses~~income (expense) for the three months ended March 31, 2021 and 2020, were $23 thousand and ~~2019, were~~ ($27) thousand, ~~and ($2) thousand for the three months ended~~ ~~March 31, 2020 and 2019~~, respectively, resulting in a net income (loss) before income taxes of $2.1 million and ($208) thousand, ~~and $160 thousand,~~ respectively. ~~Benefit (Provision)~~

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Income Tax

Provision for income tax (expense) benefit for the three months ended March 31, 2021 and 2020 were ($481) thousand and ~~2019~~ ~~were~~ $191 thousand, ~~and ($84) thousand,~~ respectively, ~~resulting in net loss of ($17) thousand for the three months ended~~ ~~March 31, 2020~~ ~~as compared to net income of $76 thousand for the three months ended~~ ~~March 31, 2019. The difference is~~ primarily attributable to our United States operations through our Wainwright ~~subsidiary.~~ subsidiary who recorded an income for the period ended March 31, 2021 as compared to a loss for the period ended March 31, 2020. The Company files income taxes as a combined group and records most income taxes at the Concierge level. Income tax (expense) recorded at the Concierge level totaled ($0.4) million for the three months ended March 31, 2021, while a tax benefit of $0.2 million was recorded for the three months ended March 31, 2020.

Net Income (Loss)

Overall, the net income ~~(loss) between~~for the three months ended March 31, ~~2020~~2021 as compared to the three months ended March 31, ~~2019~~ ~~decreased~~2020 increased by approximately ~~$93 thousand.~~$1.6 million. The ~~reduction~~increase in profits for the three months ended March 31, ~~2020~~2021 was primarily attributable to ~~lower~~higher fund management revenue from Wainwright due to a ~~lower~~higher amount of AUM, ~~partially offset by decreases~~with only modest increases in ~~Wainwright~~ variable operating expenses, and general and administrative ~~costs. Also contributing to~~costs resulting in a higher net income profit margins. All Other Operating Units contributed approximately $150 thousand of net income before tax representing a $134 thousand decrease from the same prior year period primarily as result of COVID-19. Offsetting the overall increase in net ~~loss~~income were expenses of $441 thousand related to the ~~start up~~startup of our new subsidiary, ~~Marygold & Co., as well as one-time expenses incurred in connection with investment banking and investor relations campaigns.~~Marygold. After giving consideration to currency translation losses of ~~$295,100~~($17) thousand our comprehensive ~~loss~~income for the three months ended March 31, ~~2020~~2021 was ~~$312,336 thousand~~$1.6 million as compared to the three months ended March 31, ~~2019~~2020 where there was a currency translation ~~gain~~losses of ~~$45~~$295 thousand resulting in comprehensive loss of ($312) thousand. Comprehensive gains and losses are comprised of fluctuations in foreign currency exchange rates related to the effects in the valuation of our holdings in New Zealand and Canada.

For the Nine Months Ended March 31, 2021 Compared to the Nine Months Ended March 31, 2020

Revenue and Operating Income

Consolidated revenue for the nine months ended March 31, 2021 was $30.2 million representing a $12.5 million increase from the same prior year period revenue of $17.7 million. Net revenues increased from our fund management business as a result of higher AUM by approximately $10.3 million, or 116%, for the nine months ended March 31, 2021 as compared to the nine months ended March 31, 2020. The Company's revenues derived from its other operating units increased by $2.2 million, or 25%, from the same prior year period, resulting in an overall increase in consolidated revenue of approximately 71%. Concierge produced an operating income for the nine months ended March 31, 2021 of ~~$121~~$6.6 million as compared to an operating loss of ($223) thousand for the nine months ended March 31, 2020. The increase in operating income was primarily attributable to higher fund management revenue from Wainwright due to higher AUM as well as the addition of the Printstock business in New Zealand.

Other Income (Expense)

Other income (expense) for the nine months ended March 31, 2021 and 2020, were $195 thousand and ($17) thousand, respectively, resulting in net income (loss) before taxes of $6.8 million and ($240) thousand, respectively.

Income Tax

Provision for income tax (expense) benefit for the nine months ended March 31, 2021 and 2020 were ($1.7) million and $202 thousand, respectively, primarily attributable to our United States operations through our Wainwright subsidiary who recorded an income for the period ended March 31, 2021 as compared to a loss for the period ended March 31, 2020. The Company files income taxes as a combined group and records most income taxes at the Concierge level. Income tax (expense) recorded at the Concierge level totaled ($1.5) million for the nine months ended March 31, 2021, while a tax benefit of $0.3 million was recorded for the nine months ended March 31, 2020.

Net Income (Loss)

Overall, the net income for the nine months ended March 31, 2021 as compared to the nine months ended March 31, 2020 increased by approximately $5.2 million. The increase in profits for the nine months ended March 31, 2021 was primarily attributable to higher fund management revenue from Wainwright due to a higher amount of AUM, with only modest increases in variable operating expenses, and general and administrative costs resulting in a higher net income profit margins. All Other Operating Units contributed approximately $841 thousand of net income before income tax representing a $12 thousand increase from same prior year period, attributed primarily to the addition of Printstock operations to current year earnings. Offsetting increases in net income were expenses of $1.1 million related to the startup of our new subsidiary, Marygold & Co. After giving consideration to currency translation gains of $353 thousand our comprehensive income for the nine months ended March 31, 2021 was $5.5 million as compared to the nine months ended March 31, 2020 where there was a currency translation loss of ($126) thousand resulting in comprehensive loss of ($163) thousand. Comprehensive gain and loss are comprised of fluctuations in foreign currency exchange rates related to the effects in the valuation of our holdings in New Zealand and Canada.

~~For the~~

~~Nine~~Table of Contents ~~Months Ended~~ ~~March 31, 2020~~ ~~Compared to the~~ ~~Nine~~ ~~Months Ended~~ ~~March 31, 2019~~

~~Revenue and Operating Income~~

~~Consolidated revenue for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~was $18 million representing a $2 million decrease from the prior year revenue of $20 million. While net revenues decreased as a result of lower~~Investment Fund ~~assets under management ("AUM") from our fund management business by approximately $3 million for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~as compared to the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019~~, the corporation's revenues derived from its other operating units increased $0.5 million, resulting in a net reduction in revenue of approximately $2.5 million. Concierge produced an operating (loss) income for the ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~of ($223) thousand as compared to $787 thousand for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019. The decrease in operating income was primarily attributable to lower fund management revenue from Wainwright due to lower AUM.~~

~~Other Expenses~~

~~Other expenses for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020 and 2019, were ($17) thousand and ($173) thousand for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020 and 2019, respectively, resulting in a net loss before taxes of ($240) thousand and net income of $614 thousand, respectively. Benefit (Provision) for income tax for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020 and 2019~~ ~~were $202 thousand and ($190) thousand, respectively. The difference is primarily attributable to our United States operations through our Wainwright subsidiary.~~

~~Net Income (Loss)~~

~~Overall, the net income (loss) between the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~as compared to the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019~~ ~~decreased by approximately $462 thousand to approximately ($37) thousand loss from $425 thousand income. The reduction in profits for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ was primarily attributable to lower fund management revenue from Wainwright due to a lower amount of AUM, partially offset by decreases in Wainwright variable operating expenses, and general and administrative costs. Also contributing to the net loss were expenses related to the start up of our new subsidiary, Marygold & Co., as well as one-time expenses incurred in connection with employee incentive programs at the subsidiary level, coupled with one-time expenses incurred in connection with investment banking and investor relations campaigns. After giving consideration to currency translation losses of $126 thousand our comprehensive loss for the ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~was $163 thousand as compared to the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019~~ where there was a currency translation loss of ($14) thousand resulting in comprehensive income of $411 thousand. Comprehensive gain and loss are comprised of fluctuations in foreign currency exchange rates related to the effects in the valuation of our holdings in New Zealand and Canada.

Management - Wainwright Holdings

Wainwright was founded as a holding company in March 2004 as a Delaware corporation with one subsidiary, Ameristock Corporation, which was an investment adviser to Ameristock Mutual Fund, Inc., a registered 1940 Act large cap value equity fund. In January 2010, Ameristock Corporation was spun off as a standalone company. In May 2005, USCF was formed as a single member limited liability company in the state of Delaware. In June 2013, USCF Advisers was formed as a Delaware limited liability company and in July 2014, was registered as an investment adviser under the Investment Advisers Act of 1940, as amended. In November 2013, the USCF Advisers board of managers formed USCF ETF Trust (“ETF Trust”) and in July 2016, the USCF Mutual Funds Trust (“Mutual Funds Trust” and together with “ETF Trust” the “Trusts”) both as open-end management investment companies registered under the Investment Company Act of 1940, as amended ("the 1940 Act"). The Trusts are authorized to have multiple segregated series or portfolios. Wainwright owns all of the issued and outstanding limited liability company membership interests of its subsidiaries, USCF and USCF Advisers, each a Delaware limited liability company and are affiliated companies. USCF serves as the general partner (“General Partner”) for various limited partnerships (“LP”) and sponsor (“Sponsor”) as noted below. USCF and USCF Advisers are subject to federal, state and local laws and regulations generally applicable to the investment services industry. USCF is a commodity pool operator (“CPO”) subject to regulation by the Commodity Futures Trading Commission (the "CFTC") and the National Futures Association (the “NFA”) under the Commodities Exchange Act (“CEA”). USCF Advisers is an investment adviser registered under the Investment Advisers Act of 1940, as amended and has registered as a CPO under the CEA. Exchange traded products (“ETPs”) issued or sponsored by USCF are required to be registered with the Securities and Exchange Commission (the “SEC”) in accordance with the Securities Act of 1933. Wainwright operates through USCF and USCF Advisers, which collectively operate ~~eleven~~ten exchange-traded products ("ETPs") and exchange traded funds (“ETFs”) listed on ~~they~~the NYSE Arca, Inc. ("NYSE Arca") with a total of approximately ~~$2.1~~$5.1 billion assets under management as of March 31, ~~2020~~.2021. Wainwright and subsidiaries USCF and USCF Advisers are collectively referred to as “Wainwright” hereafter.

USCF is currently the General Partner in the following Securities Act of 1933 LP commodity based index funds and Sponsor ~~(“Sponsor”)~~ for the fund series within the United States Commodity Index Funds Trust (“USCIF Trust”) and the USCF Funds Trust (“USCF Funds Trust”):

USCF as General Partner for the following funds
United States Oil Fund, LP (“USO”)	Organized as a Delaware limited partnership in May 2005
United States Natural Gas Fund, LP (“UNG”)	Organized as a Delaware limited partnership in November 2006
United States Gasoline Fund, LP (“UGA”)	Organized as a Delaware limited partnership in April 2007
United States ~~Diesel Heating Oil Fund, LP (“UHN”)~~	~~Organized as a Delaware limited partnership in April 2007; Liquidated September 12, 2018~~
~~United States~~ 12 Month Oil Fund, LP (“USL”)	Organized as a Delaware limited partnership in June 2007
United States 12 Month Natural Gas Fund, LP (“UNL”)	Organized as a Delaware limited partnership in June 2007
~~United States Short Oil Fund, LP (“DNO”)~~	~~Organized as a Delaware limited partnership in June 2008; Liquidated September 12, 2018~~
United States Brent Oil Fund, LP (“BNO”)	Organized as a Delaware limited partnership in September 2009
USCF as fund Sponsor - each a series within the USCIF Trust
United States Commodity Index Funds Trust (“USCIF Trust”)	A series trust formed in Delaware December 2009
United States Commodity Index Fund (“USCI”)	A commodity pool formed in April 2010 and made public August 2010
United States Copper Index Fund (“CPER”)	A commodity pool formed in November 2010 and made public November 2011
~~United States Agriculture Index Fund (“USAG”)~~		~~A commodity pool formed in November 2010 and made public April 2012; Liquidated September 12, 2018~~
USCF as fund Sponsor - each a series within the USCF Funds Trust
USCF Funds Trust (“USCF Funds Trust”)	A series trust formed in Delaware March 2016
United States 3X Oil Fund (“USOU”)	A commodity pool formed in May 2017 and made public July 2017; Liquidated December ~~18,~~ 2019
United States 3X Short Oil Fund (“USOD”)	A commodity pool formed in May 2017 and made public July 2017; Liquidated December ~~18,~~ 2019

USCF Advisers serves as the investment adviser to the fund(s) listed below within the Trusts and has overall responsibility for the general management and administration for the Trusts. Pursuant to the current Investment Advisory Agreements, USCF Advisers provides an investment program for the Trusts’ fund(s) and manages the investment of the assets.

Advisers as fund manager for each series within the USCF ETF ~~Trust and the USCF Mutual Funds Trust~~:Trust:
USCF ETF Trust (“ETF Trust”)	Organized as a Delaware statutory trust in November 2013
USCF SummerHaven SHPEI Index Fund ("BUY")	Fund launched November ~~30, 2017~~2017; Liquidated October 2020
USCF SummerHaven SHPEN Index Fund ("BUYN")	Fund launched November ~~30,~~ 2017; Liquidated May 6, 2020
~~Stock Split Index Fund (“TOFR”)~~	~~Fund launched September 2014; Liquidated October 20, 2017~~
~~Restaurant Leaders Index Fund (“MENU”)~~	~~Fund launched November 2016; Liquidated October 20, 2017~~
USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund ("SDCI")	Fund launched May 2018

USCF ~~Mutual Funds Trust ("Mutual Funds Trust")~~	~~Organized as a Delaware statutory trust in July 2016~~
~~USCF Commodity Strategy~~Midstream Energy Income Fund ("~~USCFX" and "USCIX"~~UMI")	Fund launched March ~~2017; Liquidated March 21, 2019~~ 2021

All USCF funds and the Trusts' funds are collectively referred to as the “Funds” hereafter.

Wainwright’s revenue and expenses are primarily driven by the amount of AUM. Wainwright earns monthly management and advisory fees based on agreements with each Fund as determined by the contractual basis point management fee structure in each agreement multiplied by the average AUM over the given period. Many of the company’s expenses are dependent upon the amount of AUM. These variable expenses include Fund administration, custody, accounting, transfer agency, marketing and distribution, and sub-adviser fees and are primarily determined by multiplying contractual fee rates by AUM. Total Operating Expenses are grouped into the following financial statement line items: General and Administrative, Marketing, Operations and Salaries and Compensation.

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For the Three Months Ended March 31, ~~2020~~,2021, Compared to the Three Months Ended March 31, ~~2019~~2020

Revenue

Average AUM for the three months ended March 31, ~~2020~~2021 was at ~~$2.3~~$4.8 billion, as compared to approximately ~~$2.6~~$2.3 billion from the three months ended March 31, ~~2019~~2020 primarily due to ~~a decrease~~an increase in USO, ~~USCI~~BNO and ~~UNG~~USL AUM. As a result, the revenues from management and advisory fees ~~decreased~~increased by approximately ~~$0.6~~$3.0 million, or ~~16%~~101%, to ~~$3.0~~$6.0 million for the three months ended March 31, ~~2020~~2021 as compared to the three months ended March 31, ~~2019~~2020 where revenues from management and advisory fees totaled ~~$3.6~~$3.0 million.

Expenses

Wainwright’s total operating expenses for three months ended March 31, ~~2020~~ ~~decreased~~2021 increased by ~~$0.4~~$0.3 million to ~~$3.0~~$3.4 million, or approximately ~~10%~~12%, from ~~$3.4~~$3.1 million for the three months ended March 31, ~~2019~~.2020. Variable expenses, as described above, ~~decreased~~increased by $0.4 million over the respective three-month period due to ~~lower~~higher AUM which ~~reduced~~increased variable marketing and distribution expenses, ~~sub-advisory fees~~fund accounting and administration expenses, and other variable costs. General and ~~Administrative~~administrative ("G&A") expenses, excluding new fund development cost, were remained at $0.6 ~~million and $0.4~~ million for the three months ended March 31, ~~2020~~2021 and March 31, ~~2019, respectively. Expenses increased due to decreases~~2020. G&A expenses had increases in ~~legal and professional fees related to moving to~~fund expense waivers as a ~~new fund custodian, accounting and administrative bank~~result of higher AUM during the ~~quarter.~~quarter but were offset with lower T&E expenses. Total marketing expenses ~~decreased~~increased $0.1 million to ~~$0.5~~$0.6 million for the three months ended March 31, ~~2020~~2021 as compared to the prior year period due to ~~a decrease in marketing conference spend along with a small reduction~~an increase in variable distribution costs as a result of ~~lower AUM.~~higher AUM as mentioned above, partially offset by decreases in advertising and marketing conference spend. Employee ~~Salaries~~salaries and ~~Compensation~~benefit compensation expenses were approximately $1.2 million ~~and $1.1 million~~ for ~~the~~both three ~~months~~month periods ended March 31, ~~2020~~2021 and March 31, ~~2019, respectively, with the increase~~2020. Operations expenses increased by $0.2 million due to ~~employer 401K contributions.~~higher AUM.

Income

Income ~~(loss)~~ before income taxes for the three months ended March 31, ~~2020~~ ~~decreased $0.3~~2021 increased $2.7 million to a $2.6 million compared to ($0.1) million loss ~~compared to $0.2 million in income~~ for three months ended March 31, ~~2019~~2020 due to ~~$0.6~~$3.0 million increase in ~~lower~~ revenue as a result of ~~lower~~higher AUM, offset by a ~~$0.4~~$0.3 million ~~reduction~~increase in operating ~~expenses.~~expenses

For the Nine Months Ended March 31, ~~2020~~2021, Compared to the Nine Months Ended March 31, ~~2019~~2020

Revenue

Average AUM for the nine months ended March 31, ~~2020~~2021 was at ~~$2.2~~$5.1 billion, as compared to approximately ~~$2.8~~$2.2 billion from the nine months ended March 31, ~~2019~~2020 primarily due to ~~a decrease~~an increase in USO, ~~USCI~~BNO and ~~UNG~~USL AUM. As a result, the revenues from management and advisory fees ~~decreased~~increased by approximately ~~$2.8~~$10.3 million, or ~~24%~~116%, to ~~$8.9~~$19.2 million for the nine months ended March 31, ~~2020~~2021 as compared to the nine months ended March 31, ~~2019~~2020 where revenues from management and advisory fees totaled ~~$11.7~~$8.9 million.

Expenses

Wainwright’s total operating expenses for the nine months ended March 31, ~~2020~~ ~~decreased~~2021 increased by $2$2.4 million to ~~$8.7~~$11.1 million, or approximately ~~19%~~28%, from ~~$10.7~~$8.7 million for the nine months ended March 31, ~~2019~~.2020. Variable expenses, as described above, ~~decreased~~increased by ~~$1.5~~$1.2 million over the respective ~~nine-month~~nine-month period due to ~~lower~~higher AUM which ~~reduced~~increased variable marketing and distribution expenses, ~~sub-advisory fees~~fund accounting and administration expenses, and other variable ~~costs. General~~costs, and ~~Administrative~~partially offset by a reduction in sub-advisory fees. G&A expenses, excluding new fund development cost, were ~~$1.4~~$2.4 million and ~~$1.5 million for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~and~~ ~~March 31, 2019, respectively. Total marketing expenses decreased $0.6 million to~~ $1.4 million for the nine months ended March 31, 2021 and March 31, 2020, respectively. G&A, excluding fund development costs, expenses increased $1.0 million due to increases in legal and professional fees as well as increases in fund expense waivers as a result of higher AUM during the quarter. Total marketing expenses increased $0.6 million to $1.9 million for the nine months ended March 31, 2021 as compared to the prior year period due to ~~a decrease of $0.3 million in advertising and marketing conference spend along with a $0.2 million reduction~~an increase in variable distribution costs as a result of ~~lower AUM.~~higher AUM as mentioned above, partially offset by decreases in advertising and marketing conference spend. Employee ~~Salaries~~salaries and ~~Compensation~~benefit compensation expenses were approximately ~~$3.3~~$3.9 million and ~~$3.5~~$3.3 million for the nine months ended March 31, 2021 and March 31, 2020, ~~and~~ ~~March 31, 2019~~, respectively ~~with the decrease~~ due to no bonuses ~~for 2019.~~earned in 2021 and none in 2020. Operations expenses increased by $0.3 million due to higher AUM and new fund development costs decreased $0.1 million in the current quarter compared to the prior year quarter.

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Income

Income before income taxes for the nine months ended March 31, ~~2020~~ ~~decreased $0.6~~2021 increased $7.9 million to a $8.1 million compared to $0.2 million ~~from $0.8 million~~ for nine months ended March 31, ~~2019~~2020 due to ~~$2.8~~a $10.3 million increase in ~~lower~~ revenue as a result of ~~lower~~higher AUM, offset by a $2$2.4 million ~~reduction~~increase in operating ~~expenses along with a decrease of $0.2 million in other~~ expenses.

Food Products - Gourmet Foods, Ltd.

Gourmet Foods ~~Limited (“Gourmet Foods”),~~ was organized in its current form in 2005 (previously known as Pats Pantry Ltd). Pats Pantry was founded in 1966 to produce and sell wholesale bakery products, meat pies and patisserie cakes and slices, in New Zealand. Gourmet Foods, located in Tauranga, New Zealand, sells substantially all of its goods to supermarkets and service station chains with stores located throughout New Zealand. Gourmet Foods also has a large number of smaller independent lunch bars, cafes and corner dairies among the customer list, however they comprise a relatively insignificant dollar volume in comparison to the primary accounts of large distributors and retailers. On July 1, 2020, Gourmet Foods acquired the New Zealand company, Printstock Products Limited ("Printstock"). Located in nearby Napier, New Zealand, Printstock prints wrappers for food products, including those used by Gourmet Foods. Printstock is a wholly-owned subsidiary of Gourmet Foods and its operating results are consolidated with those of Gourmet Foods from July 1, 2020 onwards.

Gourmet Foods operates exclusively in New Zealand and thus the New Zealand dollar is its functional currency. In order to consolidate Concierge’s reporting currency, the US dollar, with that of Gourmet Foods, Concierge records foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830-30. The translation of New Zealand currency into U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. Gains and losses resulting from foreign currency translations are included in foreign currency translation (loss) gain on the Condensed Consolidated Statements of Comprehensive Income as well as accumulated other comprehensive (loss) income found on the Condensed Consolidated Balance Sheets.

For the Three Months Ended March 31, ~~2020~~,2021, Compared to the Three Months Ended March 31, ~~2019~~2020

Revenue

Net revenues for the three months ended March 31, ~~2020~~2021 were ~~$1.3~~$2.0 million with cost of goods sold of ~~$0.9~~$1.4 million resulting in a gross profit of ~~$0.4~~$0.6 million, or approximately ~~31%~~30% gross margin, as compared to the ~~year~~three month period ended March 31, ~~2019~~2020 where net revenues were ~~$1.1~~$1.3 million and cost of goods sold were ~~$0.7~~$0.9 million producing a gross profit of $0.4 million, or approximately ~~28%~~31%. The increase in revenues is attributed to the acquisition of Printstock which contributed $1.1 million during the three month period ended March 31, 2021 and no contributing revenues for the three months ended March 31, 2020.

Expenses

General, administrative and selling expenses, including wages and marketing, for the three month periods ended March 31, ~~2020~~2021 and ~~2019~~2020 were ~~$0.2~~$0.3 million and $0.2 million producing operating income of ~~$0.2~~$0.3 million and ~~$0.1~~$0.2 million, respectively, or approximately ~~12%~~13% net operating profit for the three months ended March 31, ~~2020~~2021 and 12% for the three months ended March 31, ~~2019~~.2020. The depreciation expense ~~provision for income tax,~~ and other income ~~(expense)~~ totaled approximately $0.1 million for the three months ended March 31, ~~2020~~2021 as compared to $0.1 million for the three months ended March 31, ~~2019~~.2020.

Income

Income for the three months ended March 31, ~~2020~~,2021, after expenses of approximately $0.3 million, resulted in an income of approximately ~~$105~~$203 thousand before income tax provision of approximately ~~$14~~$48 thousand resulted in a net income of approximately ~~$92~~$124 thousand as compared to a net income of ~~$64~~$92 thousand for the three months ended March 31, ~~2019. Overall, net profit margins for~~2020. The increase in revenues and operating expenses during the ~~comparative periods~~current quarter are ~~consistent~~attributable to the acquisition of Printstock and ~~differences are attributed to depreciation expense, varying income tax provisions and the fluctuation of currency exchange rates with the New Zealand dollar.~~its operating results.

For the Nine Months Ended March 31, ~~2020~~2021, Compared to the Nine Months Ended March 31, ~~2019~~2020

Revenue

Net revenues for the nine months ended March 31, ~~2020~~2021 were ~~$3.8~~$6.2 million with cost of goods sold of ~~$2.7~~$4.4 million resulting in a gross profit of $1.8 million, or approximately 29% gross margin, as compared to the nine month period ended March 31, 2020 where net revenues were $3.8 million and cost of goods sold were $2.7 million producing a gross profit of $1.1 million, or approximately 30% ~~gross margin, as compared~~. The increase in revenues is attributed to the ~~year~~acquisition of Printstock which contributed $2.7 million during the nine month period ended March 31, ~~2019~~ ~~where net~~2021 and no contributing revenues ~~were $3.5 million and cost~~for the nine months ended March 31, 2020.

Table of ~~goods sold were $2.5 million producing a gross profit of $1.0 million, or approximately 28%.~~
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Expenses

General, administrative and selling expenses, including wages and marketing, for the nine month periods ended March 31, 2021 and 2020 ~~and 2019~~were ~~$0.6~~$1.0 million and $0.6 million producing operating income of ~~$0.5~~$0.8 million and ~~$0.4~~$0.5 million, respectively, or approximately ~~14%~~13% net operating profit for the nine months ended March 31, ~~2020~~2021 and ~~10%~~14% for the nine months ended March 31, ~~2019~~.2020. The depreciation expense ~~provision for income tax,~~ and other income ~~(expense)~~ totaled approximately $0.2 million for the nine months ended March 31, ~~2020~~2021 as compared to $0.2 million for the nine months ended March 31, ~~2019~~.2020.

Income

Income for the nine months ended March 31, ~~2020~~,2021, after expenses of approximately ~~$0.8~~$1.2 million, resulted in an income of approximately ~~$0.4 million~~$637 thousand before income tax provision of approximately ~~$43~~$153 thousand resulted in a net income of approximately ~~$349~~$484 thousand as compared to a net income of ~~$106~~$349 thousand for the nine months ended March 31, ~~2019. Overall,~~2020. The increase in revenues and operating expenses during the current quarter are attributable to the acquisition of Printstock and its operating results. Contributing to the lower net ~~profit margins~~income percentage for the ~~comparative periods are consistent and differences are attributed to depreciation expense, varying income tax provisions and~~nine months were the ~~fluctuation~~expenses associated with the acquisition of ~~currency exchange rates with~~Printstock as well as the continuing negative effects of the COVID-19 pandemic on the New Zealand ~~dollar.~~economy in general.

Security Systems - Brigadier Security Systems (2000) Ltd.

Brigadier Security Systems, ~~(2000) Ltd. (“Brigadier”) was~~ founded in 1985, ~~and through internal growth and acquisitions~~is a leading electronic security company in the ~~core business~~province of Saskatchewan. Brigadier ~~began~~Security Systems has offices located in ~~1998. Today Brigadier is one of~~ the ~~largest SecurTek security monitoring dealers in Saskatchewan with offices in both major~~ urban areas of ~~Regina (dba~~Saskatchewan, Brigadier Security in Saskatoon, and operating as Elite Security ~~Systems (2005) Ltd.) and Saskatoon. SecurTek is owned by SaskTel which is Saskatchewan's leading Information and Communications Technology (ICT) provider with~~in Regina. The company has a combined industry experience of over 1.4 million customer connections across Canada. Brigadier is also a Honeywell Certified Access Control Integrator, Kantech Corporate Certified Integrator and UTC Authorized dealer and the largest independent security contractor in the province.135 years. Brigadier provides comprehensive security solutions including access control, camera systems, fire alarm monitoring panels, and intrusion alarms to home and business owners as well as government offices, schools, and public buildings. ~~Brigadier typically sells hardware, installation~~Their experience as the provider of choice on many large notable sites shows a commitment to design, service and support. Brigadier specializes, and is certified, in several major manufacturers’ products: Honeywell Security, Panasonic, Avigilon and JCI/DSC/Kantech security products. The company and staff are recognized for dedication to customer service with annual awards from SecurTek including being recipients of the Customer Retention, Service Excellence, and overall best dealer with the President’s Award. The company demonstrates a ~~monitoring contract~~commitment to ~~customers.~~delivering outstanding quality to customers by the notable facilities, businesses, and homes they secure.

Brigadier Security Systems is an authorized SecurTek dealer. SecurTek is owned by SaskTel which is Saskatchewan's leading Information and Communications Technology (ICT) provider with over 1.4 million customer connections across Canada. Under the terms of its authorized dealer contract with the monitoring company, Brigadier earns monthly payments during the term of the monitoring contract in exchange for performance of customer service activities on behalf of the monitoring company.

Brigadier operates exclusively in Canada and thus the Canadian dollar is its functional currency. In order to consolidate Concierge’s reporting currency, the U.S. dollar, with that of Brigadier, Concierge records foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830-30. The translation of Canadian currency into U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period.

Gains and losses resulting from foreign currency translations are included in foreign currency translation (loss) gain on the Condensed Consolidated Statements of Comprehensive Income as well as accumulated other comprehensive (loss) income found on the Condensed Consolidated Balance Sheets.

For the Three Months Ended March 31, ~~2020~~2021 Compared to the Three Months EndedMarch 31, ~~2019~~2020

Revenue

Net revenues for the three months ended March 31, ~~2020~~2021 were ~~$0.6~~$0.7 million with cost of goods sold recorded as approximately ~~$0.3~~$0.4 million, resulting in a gross profit of approximately $0.3 million with a gross margin of approximately ~~54%~~49% as compared to the three months ended March 31, ~~2019~~2020 where net revenues were approximately ~~$0.8~~$0.6 million with cost of goods sold of ~~$0.4~~$0.3 million and a gross profit of ~~$0.4~~$0.3 million, or approximately ~~45%~~54%. The decline in revenues is a direct result of the negative effects of the COVID-19 pandemic on the Company's ability to perform installation services at residential locations. Management believes that this is business deferred rather than lost, and expects that the eventual resolution of the pandemic will restore operations to their prior, or better, levels.

Expenses

General, administrative and selling expenses for the three months ended March 31, ~~2020~~2021 were $0.3 million producing an operating profit of $0.1 million or approximately ~~10%~~11% as compared to the three months ended March 31, ~~2019~~2020 where operating profits were $0.1 million, or approximately 13%, with general, administrative and selling expenses of $0.3 million.

Income

Other ~~expense~~expenses comprised of depreciation, income tax, interest income, other income ~~and gain on sale of assets~~(expense) totaled approximately ~~$17~~($19) thousand for the three months ended March 31, ~~2020~~2021 resulting in income after income taxes of approximately ~~$41~~$58 thousand as compared to income after income taxes of approximately ~~$78~~$41 thousand for the three months ended March 31, ~~2019~~2020 where other expense totaled ~~$28~~approximately ($17) thousand.

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For the Nine Months Ended March 31, ~~2020~~2021 Compared to the Nine Months EndedMarch 31, ~~2019~~2020

Revenue

Net revenues for the nine months ended March 31, ~~2020~~2021 were ~~$2.1~~$2.0 million with cost of goods sold recorded as approximately $1.0 million, resulting in a gross profit of approximately ~~$1.1~~$1.0 million with a gross margin of approximately ~~53%~~51% as compared to the nine months ended March 31, ~~2019~~2020 where net revenues were approximately ~~$2.4~~$2.1 million with cost of goods sold of ~~$1.3~~$1.0 million and a gross profit of $1.1 million, or approximately ~~45%~~53%. The decline in revenues is a direct result of the negative effects of the COVID-19 pandemic on the Company's ability to perform installation services at residential locations. Management believes that this is business deferred rather than lost, and expects that the eventual resolution of the pandemic will restore operations to their prior, or better, levels.

Expenses

General, administrative and selling expenses for the nine months ended March 31, ~~2020~~2021 were $0.8 million producing an operating profit of $0.2 million or approximately 12% as compared to the nine months ended March 31, 2020 where operating profits were $0.3 million, or approximately 14% ~~as compared to the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019~~ ~~where operating profits were $0.4 million, or approximately 16%~~, with general, administrative and selling expenses of ~~$0.7~~$0.8 million.

Income

Other ~~expense~~income (expense) comprised of depreciation, income tax, interest income, other income (expense) including taxable government subsidies due to COVID-19 of approximately $150 thousand, impairment to inventory value, and gain on sale of assets totaled approximately ~~$82~~$19 thousand for the nine months ended March 31, ~~2020~~2021 resulting in income after income taxes of approximately ~~$209~~$260 thousand as compared to income after income taxes of approximately ~~$273~~$209 thousand for the nine months ended March 31, ~~2019~~2020 where other expense totaled ~~$97~~approximately ($82) thousand.

Beauty Products - Original Sprout

Kahnalytics was founded in 2015 and adopted the dba/Original Sprout in December 2017. Original Sprout formulates and packages various hair and skin care products that are 100% vegan, tested safe and non-toxic, and marketed globally through distribution networks to salons, resorts, grocery stores, health food stores, e-tail sites and on the company's website. The company operates from warehouse and sales offices located in San Clemente, CA, USA. As a result of the ongoing COVID-19 pandemic, Original Sprout has made adjustments to its primary channels to market. Prior to the pandemic Original Sprout relied heavily upon its wholesale distribution network to place products at retail locations and generally to make products available to consumers, whereas in the current environment of social distancing and closures of retail businesses the company found a significant drop in sales volumes as consumers avoided traditional sales outlets. In response to this trend, Original Sprout has established new sales channels with online retailers and also encouraged those national retail chains who stock the product to also make it available at online shopping carts. The positive effects of this transition are now being realized while at the same time the negative effects of the pandemic on the wholesale distribution business continues to increase. The result is that sales overall have been relatively stable during the pandemic, though derived from different sources. Contributing to lower profit margins and higher expenses during the current fiscal year are the costs of relocating to a larger facility during December and January, the disposal of obsolete product, the transition to new packaging and new product development.

For the Three Months Ended March 31, ~~2020~~2021 Compared to the Three Months Ended March 31, ~~2019~~2020

Revenue

Net revenues for the three months ended March 31, ~~2020~~2021 were ~~$1.1~~$0.8 million as compared to ~~$0.7~~$1.1 million for the three months ended March 31, ~~2019~~.2020. Cost of goods sold for the three months ended March 31, 2021 and 2020 ~~and 2019~~were ~~$0.6~~$0.5 million and ~~$0.4~~$0.6 million, respectively, resulting in a gross profit of approximately $0.3 million and $0.5 million, respectively. The decrease in revenues are attributed to a decline in wholesale and ~~$0.3 million, respectively.~~retail distribution in response to the changing shopping habits of consumers, which were likely brought about due to restrictions imposed by the ongoing COVID-19 control efforts both domestically and internationally.

Expenses

General, administrative and selling expenses were approximately ~~$0.3~~$0.4 million resulting in an operating ~~income~~loss of approximately ~~$184~~($74) thousand, ~~or approximately 17%,~~ as compared to ~~$0.2~~$0.3 million of general, administrative and selling expenses resulting in ~~$116~~operating income of $184 thousand for the three months ended March 31, ~~2019~~,2020, or approximately ~~16%~~17%. The higher operating expenses during the current quarter where primarily attributed to the cost of relocating facilities.

Income (Loss)

After consideration given to income tax provision, other income (expense), and depreciation expense, the net loss for the three months ended March 31, 2021 was approximately ($120) thousand as compared to 131 thousand net income from the prior year comparable period. The net loss was due, in part, to the expenses associated with the relocation of the warehouse and office facilities during the current quarter coupled with the disposal of obsolete packaging and component parts inventories.

For the Nine Months Ended March 31, 2021 Compared to the Nine Months Ended March 31, 2020

Revenue

Net revenues for the nine months ended March 31, 2021 were $2.8 million as compared to $2.9 million for the nine months ended March 31, 2020. Cost of goods sold for the nine months ended March 31, 2021 and 2020 were $1.7 million and $1.6 million, respectively, resulting in a gross profit of approximately $1.1 million and $1.3 million, respectively.

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Expenses

General, administrative and selling expenses were approximately $1.1 million resulting in an operating income of approximately $35 thousand, or approximately 1%, as compared to $0.9 million of general, administrative and selling expenses resulting in operating income of $0.4 million for the nine months ended March 31, 2020, or approximately 13%.

Income (Loss)

After consideration given to income tax provision, other income (expense), and depreciation expense, the net ~~income~~loss for the ~~three~~nine months ended March 31, ~~2020~~2021 was approximately ~~$131~~($116) thousand as compared to ~~$46~~$154 thousand net income from the prior year comparable period. The decline in net income is primarily attributed to the expense associated with the relocation of the warehouse and office facilities during the current quarter.

~~For the~~ ~~Nine~~ ~~Months Ended~~ ~~March 31, 2020~~ ~~Compared to the~~ ~~Nine~~ ~~Months Ended~~ ~~March 31, 2019~~

~~Revenue~~

~~Net revenues for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~were $2.9 million as compared to $2.5 million for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2019. Cost of goods sold for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020 and 2019~~ ~~were $1.6 million and $1.4 million, respectively, resulting in a gross profit of approximately $1.3 million and $1.1 million, respectively.~~

~~Expenses~~

General, administrative and selling expenses were approximately $0.9 million resulting in an operating income of approximately $0.4 million, or approximately 13%, as compared to $0.6 million of general, administrative and selling expenses resulting in $0.5 million for the ~~nine~~ ~~months ended~~ ~~March 31, 2019, or approximately 18%.~~

~~Income~~

~~After consideration given to income tax provision, other income, and depreciation expense, the net income for the~~ ~~nine~~ ~~months ended~~ ~~March 31, 2020~~ ~~was approximately $154 thousand as compared to $253 thousand from the prior year comparable period.~~

Plan of Operation for the Next Twelve Months

Our plan of operation for the next twelve months is to apply necessary resources, which may include experienced personnel, cash, or synergistic acquisitions made with cash, equity or debt, into growing each of our business units to their potential. Original Sprout is in the initial stages of transitioning from a largely boutique offering distributed through specialty wholesalers to a more mainstream product available at traditional outlets and online and as such we anticipate measurable growth in revenues for the coming ~~years.~~years, though there may be one-time initial expenses associated with the launch of new sales channels. Additionally, we are expecting moderate growth in Brigadier through focused management initiatives and consolidation within the security industry coupled with expanded product offerings. Similarly, we expect Gourmet Foods to be operating more efficiently under current management and continue to increase market share through additional product offerings and channels to market, including ~~distribution in New Zealand~~the printing and sale of ~~the products from Original Sprout.~~food wrappers by their newly acquired subsidiary, Printstock. Wainwright will continue to develop innovative and new fund products to grow its portfolio. In addition to our long-term mission that is an acquisition strategy based upon identifying and acquiring profitable, mature, companies of a diverse nature and with in-place management that produces increased revenue streams, the Company is also focused upon building expertise and developing Fintech opportunities in the financial services ~~sector.~~sector through its development stage subsidiary Marygold and Co. In a more general sense, the Company is characterizing its business in two ~~categories;~~categories: 1) financial services and 2) other operating units. The purpose is to isolate the cyclical nature of the financial services business from our other industry segments. As revenues from financial services fluctuate over time due to varying performance of the commodities markets, our other operations are expected to be stable and sustainable by comparison. By these initiatives we seek to:

	●	continue to gain market share for our wholly-owned subsidiaries’ areas of operation,
	●	increase our gross revenues and realize net operating profits,
	●	lower our operating costs by unburdening certain selling expenses to third party distributors,
	●	have sufficient cash reserves to pay down accrued expenses and losses,
	●	attract parties who have an interest in selling their privately held companies to us,
	●	achieve efficiencies in accounting and reporting through adoption of standards used by all subsidiaries on a consistent basis,
	●	strategically pursue additional company acquisitions, and
	●	explore opportunities as may present themselves in the Fintech space, including the launch of services by Marygold and Marygold Advisory Services, and the creation of new corporate entities ~~such as Marygold~~ as focused subsidiary holdings.

Liquidity and Capital Resources

Concierge is a holding company that conducts its operations through its subsidiaries. At its holding-company level, its liquidity needs relate to operational expense, the funding of additional business acquisitions and new investment opportunities. Our operating subsidiaries' principal liquidity requirements arise from cash used in operating activities, debt service, and capital expenditures, including purchases of equipment and services, operating costs and expenses, and income taxes.

As of March 31, ~~2020~~,2021, we had ~~$6.0~~$14.3 million of cash and cash equivalents on a consolidated basis as compared to ~~$6.5~~$9.8 million as of June 30, ~~2019~~2020.

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During the ~~current and~~ past five fiscal years combined, Concierge has invested approximately ~~$3.5~~$8.2 million in cash towards purchasing and assimilating Gourmet Foods and its Printstock subsidiary, Brigadier Security Systems and the Original Sprout assets into the Concierge Technologies group of ~~companies. During the previous years ended June 30, 2016 through June 30, 2017, Concierge invested approximately $3.3 million in cash to acquire Gourmet Foods and Brigadier Security Systems~~companies as well as the acquisition through a stock-for-stock exchange of Wainwright, which provides a significant revenue stream and value. ~~During~~We have also invested approximately $1.1 million in the ~~current nine month period ended March 31, 2020 we have invested cash and resources to the formation~~development of Fintech applications through our ~~wholly-owned~~newly organized subsidiary, ~~Marygold & Co., and its product development.~~Marygold. Despite these cash investments, our working capital position remains strong at ~~approximately $11.9~~$19 million and our position has strengthened year-to-year. Management forecasts Wainwright, Gourmet Foods, Brigadier and Original Sprout to all produce a profit during the coming fiscal year and the realization of those profits by Concierge is not expected to be significantly impacted by foreign currency fluctuations against the U.S. dollar during the period. While Concierge intends to maintain and improve its revenue stream from wholly owned subsidiaries, Concierge continues to pursue acquisitions of other profitable companies which meet its target profile. Provided Concierge’s subsidiaries continue to operate as they are presently, and are projected to operate, Concierge has sufficient capital to pay its ~~operating~~general and administrative expenses for the coming fiscal year and to adequately pursue its long term business objectives.

~~In relation to~~ However, given the ~~adoption~~significant economic and financial market disruptions associated with the COVID-19 pandemic, the Company’s results of ~~ASC 842 (see Note 2), the Company recognized $1,150,916 of operating lease liabilities on July 1, 2019. The total amount due under these obligations was $847,203 and $0 as of~~ ~~March 31, 2020~~ ~~and~~ ~~June 30, 2019, respectively. The obligations will amortize over the passage of time through the recognition of periodic rent expense. See Note 6 for further analysis of this obligation.~~operations could be adversely impacted.

Borrowings

As of March 31, ~~2020~~,2021, we had $1.0 million of related-party and third-party indebtedness on a consolidated basis as compared to ~~$0.7~~$1.0 million as of June 30, ~~2019~~.2020. Approximately US$~~361,149~~392,949 is owed by Brigadier and secured with the land and building in Saskatoon purchased in July 2019. The initial principal balance was CD$525,000 (approximately US$401,000 translated as of the loan date July 1, 2019) with an annual interest rate of 4.14% maturing June 30, 2024. The short-term portion of principal for this loan due within 12 months as of March 31, 2021 is CD$18,526 (approximately US$14,727) and the long term principal amount due is CD$475,787 (approximately US$378,222). Interest on the loan is expensed or accrued as it becomes due. Interest expense on the loan for the three months ended March 31, 2021 and 2020 was US$4,001 and US$3,926, respectively, and for the nine months ended March 31, 2021 and 2020, was US$11,981 and $12,173, respectively. Concierge, without inclusion of its subsidiary companies, as of March 31, ~~2020~~2021 and June 30, ~~2019~~,2020, had $0.6 million of related-party indebtedness. We are not required to make interest payments on our related party notes until the maturity date.

Current related party notes payable consist of the following:

March 31, June 30,
2020 2019
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due)
3,500 3,500
Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022
250,000 250,000
Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022
350,000 350,000
$ 603,500 $ 603,500
~~As of~~ ~~March 31, 2020, Brigadier had an outstanding principal balance of CD$512,138 (approx. US$361,150 translated as of~~ ~~March 31, 2020) related to the purchase of their Saskatoon office land and building. The Consolidated Balance Sheets as of~~ ~~March 31, 2020~~ ~~and~~ ~~June 30, 2019~~ ~~reflect the amount of the principal balance which is due within twelve months as a current liability of US$12,536 and a long term liability of US$348,614. As of~~ ~~June 30, 2019~~, the loan liability consisted of principal balances outstanding for vehicle purchases. The principal amounts under the loans which were due within twelve months were recorded in short term liabilities as US$26,241, and after twelve months as US$61,057. These loans were paid in full as of ~~March 31, 2020, whereas there was no liability for the loan related to the property purchase as of~~ ~~June 30, 2019. Total interest on vehicle loans for the three and~~ ~~nine months ended March 31, 2020~~ ~~was zero and US$753, respectively, as compared to the three and~~ ~~nine months ended March 31, 2019~~ of US$1,077 and US$4,209, respectively. Interest on the mortgage loan for the three and nine months ended March 31, 2020 was US$3,926 and US$12,173, respectively, with no mortgage interest being due prior to July 1, 2019.

March 31,

June 30,

2021

2020

Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due)
$ 3,500 $ 3,500
Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022
250,000 250,000
Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022
350,000 350,000
$ 603,500 $ 603,500

Investments

Wainwright, from time to time, provides initial investments in the creation of ETF funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one year from the balance sheet date. As of March 31, ~~2020~~2021 and June 30, ~~2019~~2020 we have no such investments. These investments are described further in Note 7 ~~to our Financial Statements.~~of the accompanying financial statements.

Dividends

Our strategy on dividends is to declare and pay dividends only from retained earnings and only when our Board of Directors deems it prudent and in the best interests of the ~~company~~Company to declare and pay dividends. We have paid no dividends and we do not expect to pay any dividends over the next fiscal year.
Item 3.~~Quantitative and Qualitative Disclosures about Market Risk.~~
Quantitative and Qualitative Disclosures about Market Risk.

Concierge is a smaller reporting company and is not required to provide the information required by this item.
Item 4.~~Controls and Procedures~~
Controls and Procedures

Disclosure Controls and Procedures

Concierge maintains disclosure controls and procedures that are designed to provide reasonable assurances that the information required to be disclosed in Concierge’s periodic reports filed or submitted under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time period specified in the SEC’s rules and forms.

The duly appointed officers of Concierge, including its chief executive officer and chief financial officer, who perform functions equivalent to those of a principal executive officer and principal financial officer of Concierge, ~~if Concierge had any officers,~~ have evaluated the effectiveness of Concierge’s disclosure controls and procedures and have concluded that the disclosure controls and procedures of Concierge ~~have been~~were effective as of the end of the period covered by this quarterly report on Form 10-Q.
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Change in Internal Control Over Financial Reporting

There were no significant changes in the Company's internal control over financial reporting during the period covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls over financial reporting.

PART II - OTHER INFORMATION

Item 1.
Legal Proceedings

~~None.~~From time to time, the Company and its subsidiaries may be involved in legal proceedings arising primarily from the ordinary course of their respective businesses. Except as described below there are no pending legal proceedings against the Company. USCF, is an indirect wholly owned subsidiary of the Company. USCF, as the general partner of USO and the general partner and sponsor of the related public funds may, from time to time, be involved in litigation arising out of its operations in the ordinary course of business. Except as described herein, USO and USCF are not currently party to any material legal proceedings.

SEC and CFTC Wells Notices
On August 17, 2020, USCF, USO, and John Love received a “Wells Notice” from the staff of the SEC (the “SEC Wells Notice”). The SEC Wells Notice relates to USO's disclosures in late April and early May regarding constraints imposed on USO's ability to invest in Oil Futures Contracts. The SEC Wells Notice states that the SEC staff has made a preliminary determination to recommend that the SEC file an enforcement action against USCF, USO, and Mr. Love alleging violations of Sections 17(a)(1) and 17(a)(3) of the 1933 Act and Section 10(b) of the 1934 Act and Rule 10b-5 thereunder, in each case with respect to its disclosures and USO’s actions.
On August 19, 2020, USCF, USO, and Mr. Love received a Wells Notice from the staff of the CFTC (the “CFTC Wells Notice”). The CFTC Wells Notice states that the CFTC staff has made a preliminary determination to recommend that the CFTC file an enforcement action against USCF, USO, and Mr. Love alleging violations of Sections 4o(1)(A) and (B) and 6(c)(1) of the CEA, 7 U.S.C. §§ 6o(1)(A), (B), 9(1) (2018), and CFTC Regulations 4.26, 4.41, and 180.1(a), 17 C.F.R. §§ 4.26, 4.41, 180.1(a) (2019), in each case with respect to its disclosures and USO’s actions.
A Wells Notice is neither a formal charge of wrongdoing nor a final determination that the recipient has violated any law. USCF, USO, and Mr. Love maintain that USO’s disclosures and their actions were appropriate. They intend to vigorously contest the allegations made by the SEC staff in the SEC Wells Notice and the CFTC staff in the CFTC Wells Notice.
In re: United States Oil Fund, LP Securities Litigation
On June 19, 2020, USCF, USO, John P. Love, and Stuart P. Crumbaugh were named as defendants in a putative class action filed by purported shareholder Robert Lucas (the “Lucas Class Action”). The Court thereafter consolidated the Lucas Class Action with two related putative class actions filed on July 31, 2020 and August 13, 2020, and appointed a lead plaintiff. The consolidated class action is pending in the U.S. District Court for the Southern District of New York under the caption In re: United States Oil Fund, LP Securities Litigation, Civil Action No. 1:20-cv-04740.
On November 30, 2020, the lead plaintiff filed an amended complaint (the “Amended Lucas Class Complaint”). The Amended Lucas Class Complaint asserts claims under the 1933 Act, the 1934 Act, and Rule 10b-5. The Amended Lucas Class Complaint challenges statements in registration statements that became effective on February 25, 2020 and March 23, 2020 as well as subsequent public statements through April 2020 concerning certain extraordinary market conditions and the attendant risks that caused the demand for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The Amended Lucas Class Complaint purports to have been brought by an investor in USO on behalf of a class of similarly-situated shareholders who purchased USO securities between February 25, 2020 and April 28, 2020 and pursuant to the challenged registration statements. The Amended Lucas Class Complaint seeks to certify a class and to award the class compensatory damages at an amount to be determined at trial as well as costs and attorney’s fees. The Amended Lucas Class Complaint named as defendants USCF, USO, John P. Love, Stuart P. Crumbaugh, Nicholas D. Gerber, Andrew F Ngim, Robert L. Nguyen, Peter M. Robinson, Gordon L. Ellis, and Malcolm R. Fobes III, as well as the marketing agent, ALPS Distributors, Inc., and the Authorized Participants: ABN Amro, BNP Paribas Securities Corporation, Citadel Securities LLC, Citigroup Global Markets, Inc., Credit Suisse Securities USA LLC, Deutsche Bank Securities Inc., Goldman Sachs & Company, J.P. Morgan Securities Inc., Merrill Lynch Professional Clearing Corporation, Morgan Stanley & Company Inc., Nomura Securities International Inc., RBC Capital Markets LLC, SG Americas Securities LLC, UBS Securities LLC, and Virtu Financial BD LLC.
The lead plaintiff has filed a notice of voluntary dismissal of its claims against BNP Paribas Securities Corporation, Citadel Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities USA LLC, Deutsche Bank Securities Inc., Morgan Stanley & Company, Inc., Nomura Securities International, Inc., RBC Capital Markets, LLC, SG Americas Securities LLC, and UBS Securities LLC.
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USCF, USO, and the individual defendants in In re: United States Oil Fund, LP Securities Litigation intend to vigorously contest such claims and has moved for their dismissal.
Mehan Action
On August 10, 2020, purported shareholder Darshan Mehan filed a derivative action on behalf of nominal defendant USO, against defendants USCF, John P. Love, Stuart P. Crumbaugh, Nicholas D. Gerber, Andrew F Ngim, Robert L. Nguyen, Peter M. Robinson, Gordon L. Ellis, and Malcolm R. Fobes, III (the “Mehan Action”). The action is pending in the Superior Court of the State of California for the County of Alameda as Case No. RG20070732.
The Mehan Action alleges that the defendants breached their fiduciary duties to USO and failed to act in good faith in connection with a March 19, 2020 registration statement and offering and disclosures regarding certain extraordinary market conditions that caused demand for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The complaint seeks, on behalf of USO, compensatory damages, restitution, equitable relief, attorney’s fees, and costs. All proceedings in the Mehan Action are stayed pending disposition of the motion(s) to dismiss in In re: United States Oil Fund, LP Securities Litigation.
USCF, USO, and the other defendants intend to vigorously contest such claims.
In re United States Oil Fund, LP Derivative Litigation
On August 27, 2020, purported shareholders Michael Cantrell and AML Pharm. Inc. DBA Golden International filed two separate derivative actions on behalf of nominal defendant USO, against defendants USCF, John P. Love, Stuart P. Crumbaugh, Andrew F Ngim, Gordon L. Ellis, Malcolm R. Fobes, III, Nicholas D. Gerber, Robert L. Nguyen, and Peter M. Robinson in the U.S. District Court for the Southern District of New York at Civil Action No. 1:20-cv-06974 (the “Cantrell Action”) and Civil Action No. 1:20-cv-06981 (the “AML Action”), respectively.
The complaints in the Cantrell and AML Actions are nearly identical. They each allege violations of Sections 10(b), 20(a) and 21D of the 1934 Act, Rule 10b-5 thereunder, and common law claims of breach of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets. These allegations stem from USO’s disclosures and defendants’ alleged actions in light of the extraordinary market conditions in 2020 that caused demand for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The complaints seek, on behalf of USO, compensatory damages, restitution, equitable relief, attorney’s fees, and costs. The plaintiffs in the Cantrell and AML Actions have marked their actions as related to the Lucas Class Action.
The Court entered and consolidated the Cantrell and AML Actions under the caption In re United States Oil Fund, LP Derivative Litigation, Civil Action No. 1:20-cv-06974 and appointed co-lead counsel. All proceedings in In re United States Oil Fund, LP Derivative Litigation are stayed pending disposition of the motion(s) to dismiss in In re: United States Oil Fund, LP Securities Litigation.
USCF, USO, and the other defendants intend to vigorously contest the claims in In re United States Oil Fund, LP Derivative Litigation.
Item 1A.
Risk Factors

Concierge and its subsidiaries (referred to herein as “we,” “us,” “our” or similar expressions) are subject to certain risks and uncertainties in its business operations. ~~The risks and uncertainties~~In addition to the other information set forth ~~below and~~ in this report, you should carefully consider the factors discussed in “Risk Factors” in the September 28, 2020 filing of our Annual Report on Form 10-K, ~~filed September 30, 2019~~which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report are not the only risks ~~we face. The~~facing our Company. Additional risks and uncertainties ~~described below supplement,~~not currently known to us or ~~the extent inconsistent, supersede those in~~that we currently deem to be immaterial also may materially and adversely affect our ~~above mentioned~~business, financial condition and/or operating results.
There have been no material changes since our September 28, 2020 filing of our Annual Report on Form 10-K
~~COVID-19 Risk~~
~~An outbreak of infectious respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and has now been detected globally. In March~~for the fiscal year ended June 30, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic. COVID-19 has resulted in numerous deaths, travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines and the imposition of both local and more widespread “work from home” measures, cancellations, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The ongoing spread of COVID-19 has had, and is expected to continue to have, a material adverse impact on local economies in the affected jurisdictions and also on the global economy, as cross border commercial activity and market sentiment are increasingly impacted by the outbreak and government and other measures seeking to contain its spread. The impact of COVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect individual issuers and capital markets in ways that cannot necessarily be foreseen. In addition, actions taken by government and quasi-governmental authorities and regulators throughout the world in response to the COVID-19 outbreak, including significant fiscal and monetary policy changes, may affect the value, volatility, pricing and liquidity of some investments or other assets, including those held by or investedrisk factors discussed in by the Company. Public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. The duration of the COVID-19 outbreak and its ultimate impact on the Company and, on the global economy, cannot be determined with certainty. The COVID-19 pandemic and its effects may last for an extended period of time, and could result in significant and continued declines in global financial markets, higher default rates, and a substantial economic downturn or recession. The foregoing could disrupt the operations of the Company's service providers, adversely affect the Company's stock price, and negatively impact the Company's performance and your investment in the Company. The extent to which COVID-19 will affect the Company and its’ service providers will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of COVID-19 and the actions taken to contain COVID-19. Given the significant economic and financial market disruptions associated with the COVID-19 pandemic, the Company’s results of operations could be adversely impacted.
~~Additional risks and uncertainties that are presently unknown or are currently deemed immaterial may also impair our business operations.~~“Risk Factors”. These risk factors should be read in connection with the other information included in this quarterly report on Form 10-Q, including Management’s Discussion and Analysis of Financial Condition and Results of Operations and our financial statements and the related notes.

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds

None.

37
Table of Contents
Item 3.
Defaults Upon Senior Securities

None.

Item 4.
Mine Safety Disclosures

Not applicable.

Item 5.
Other Information

None.

Item 6.
Exhibits

The following exhibits are filed or incorporated by reference as part of this Form 10-Q:

Exhibit
Number
Description of Document
~~2.1~~
~~Agreement for Sale and Purchase of a Business, dated May 29, 2015, by and between Gourmet Foods Ltd. and Concierge Technologies, Inc.~~³
~~2.2~~
~~Stock Purchase Agreement, dated May 27, 2016, by and among Concierge Technologies, Inc., Brigadier Security Systems (2000) Ltd., and the shareholders of Brigadier Security Systems (2000) Ltd.~~⁵
~~2.3~~
Stock Purchase Agreement, dated September 19, 2016 by and among Concierge Technologies, Inc., Wainwright Holdings, Inc. and Each of the Individuals and Entities Executing Signature Pages Attached Thereto⁶
~~2.4~~
~~Asset Purchase Agreement, dated June 24, 2019, by and between Concierge Technologies, Inc., through its wholly owned subsidiary Gourmet Foods Ltd. and RG & MK Wilson Limited.~~¹⁰
~~2.5~~
~~Termination of Asset Purchase Agreement, dated June 24, 2019, by and between Concierge Technologies, Inc., through its wholly owned subsidiary Gourmet Foods Ltd. and RG & MK Wilson Limited.~~¹¹
3.1
Certificate of Designation (Series of Preferred Stock) filed with the Secretary of State of Nevada on September 23, ~~2010.~~2010 ¹.
3.2
Amended Articles of Incorporation of Concierge Technologies, Inc., a Nevada corporation, filed with the Secretary of State of Nevada on April 17, ~~2017.~~2017 ⁷².
3.3
Amended Bylaws of Concierge Technologies, Inc. effective on March 20, ~~2017.~~⁷
~~10.1~~
~~Securities Purchase Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers.~~2017 ²
~~10.2~~
~~Registration Rights Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers.~~²
~~10.3~~
~~Convertible Promissory Note, dated January 27, 2016, by and between Wainwright Holdings, Inc. and Concierge Technologies, Inc.~~⁴
~~10.4~~
~~Amended and Restated Asset Purchase Agreement, dated November 20, 2017, by and between The Original Sprout, LLC and each of the Individual Members of Original Sprout LLC and Kahnalytics, Inc.~~⁸
~~10.5~~ ~~Form of Agreement for Sale and Purchase of Shares and Current Account Graham Eric Eagle, Linda Janice Eagle, and Stephen Peter Lunn as Trustees~~
~~of the GE and LJ Eagle Family Trust as to 266,850 shares, and Graham Eric Eagle of Napier, Company Director, as to 29,650 shares.~~¹³
~~14.1~~
~~Code of Business Conduct and Ethics~~⁹
~~21.1~~
~~Concierge Technologies, Inc. - Subsidiary List~~¹².
31.1(1)
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2(1)
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1(1)
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2(1)
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS
~~101.INS~~
XBRL Instance Document#
101.SCH
~~101.SCH~~
XBRL Taxonomy Extension Schema Document#
101.CAL
~~101.CAL~~
XBRL Taxonomy Extension Calculation Linkbase Document#
101.LAB
~~101.LAB~~
XBRL Taxonomy Extension Labels Linkbase Document#
101.PRE
~~101.PRE~~
XBRL Taxonomy Extension Presentation Linkbase Document#
101.DEF
~~101.DEF~~
XBRL Taxonomy Extension Definition Linkbase Document#

# Filed Herewith. Pursuant to Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

⁽¹⁾
Filed herewith.
¹Previously filed with Report on Form 10-K on October 8, 2010 ~~and incorporated by reference herein.~~
²~~Previously filed with Current Report on Form 8-K on January 29, 2015 and incorporated by reference herein.~~
³~~Previously filed with Current Report on Form 8-K on June 2, 2015 and incorporated by reference herein.~~
⁴~~Previously filed with Current Report on Form 8-K on February 2, 2016 and incorporated by reference herein.~~
⁵~~Previously filed with Current Report on Form 8-K on June 8, 2016 and incorporated by reference herein.~~
⁶~~Previously filed with Current Report on Form 8-K on September 20, 2016 and incorporated by reference herein.~~
⁷~~Previously filed with Definitive Proxy Materials on Schedule 14A on February 28, 2017 and incorporated by reference herein.~~
⁸~~Previously filed with Current Report on Form 8-K on November 21, 2017 and incorporated by reference herein.~~
⁹~~Previously filed with Current Report on Form 10-K on September 28, 2018 and incorporated by reference herein.~~
¹⁰~~Previously filed with Current Report on Form 8-K on June 27, 2019 and incorporated by reference herein.~~
¹¹~~Previously filed with Current Report on Form 8-K on August 2, 2019 and incorporated by reference herein.~~
¹²~~Previously filed with Current Report on Form 10-K on September 30, 2019 and incorporated by reference herein.~~
¹³~~Previously filed with Current Report on Form 8-K on March 16, 2020~~ and incorporated by reference herein.
²Previously filed with Definitive Proxy Materials on Schedule 14A on February 28, 2017 and incorporated by reference herein.

38
Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CONCIERGE TECHNOLOGIES, INC.
Dated: May ~~15, 2020~~14, 2021
By:
/s/ Nicholas Gerber
Nicholas Gerber
Chief Executive Officer,
Principal Executive Officer

A signed original of this written statement required by Section 906 has been provided to Concierge Technologies, Inc. and will be retained by Concierge Technologies, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

3639
s in thousands)

For the Nine Months Ended March 31,

For Nine Months Ended March 31,

For the Nine Months Ended March 31,

2020

2019

Change

2020

2019

Change

2020

2019

Change

2020

2019

Change

2021

2020

Change

2021

2020

Change

2021

2020

Change

2021

2020

Change

Revenue

8,867

11,730

(2,863

)

(24

8,856

8,400

456

17,723

20,130

(2,407

)

(12

19,183

8,867

10,316

116

11,072

8,856

2,216

30,254

17,723

12,532

% of total revenue

(13

Cost of revenue

5,244

5,234

5,244

5,234

7,121

5,244

1,878

7,121

5,244

1,877

Gross profit

8,867

11,730

(2,863

)

(24

3,612

3,166

446

12,479

14,896

(2,417

)

(16

19,183

8,867

10,316

116

3,950

3,612

338

23,133

12,479

10,654

Operating expenses

8,655

10,744

(2,089

)

(19

2,760

2,423

337

1,287

942

345

12,702

14,109

(1,407

)

(10

11,084

8,655

2,429

3,299

2,760

539

2,106

1,287

819

16,489

12,702

3,787

% of total operating expenses

Income (loss) from operations

212

986

(774

)

(78

852

743

109

(1,287

)

(942

)

(345

)

(223

)

787

(1,010

)

(128

8,099

212

7,887

3,720

651

852

(201

)

(24

(2,106

)

(1,287

)

(819

)

(64

6,644

(223

)

6,867

3080

Other (expense) / income

(153

)

163

107

(21

)

(36

)

(240

)

(35

)

(17

)

(173

)

156

(40

190

(21

)

211

1,005

)

196

(17

)

213

1247

Income (loss) before income taxes

222

833

(611

)

(73

831

758

(1,293

)

(977

)

(316

)

(240

)

614

(854

)

(139

8,113

222

7,891

3,555

841

831

(2,114

)

(1,293

)

(819

)

(63

6,840

(240

)

7,079

2950

For the Nine Months Ended March 31, 2021 Compared to the Nine Months Ended March 31, 2020

All USCF funds and the Trusts' funds are collectively referred to as the “Funds” hereafter.

For the Nine Months Ended March 31, 2021 Compared to the Nine Months Ended March 31, 2020

As of March 31, ~~2020~~,2021, we had ~~$6.0~~$14.3 million of cash and cash equivalents on a consolidated basis as compared to ~~$6.5~~$9.8 million as of June 30, ~~2019~~2020.

Nevada		90-1133909
(Stateorotherjurisdictionof		(I.R.S.Employer
incorporationororganization)		IdentificationNo.)

Title of Each Class of Security	Trading Symbol	Name of Exchange on Which Registered
None

Large accelerated filer	☐	Accelerated filer	☐

Non-accelerated filer	☐	Smaller reporting company	☒

		Emerging growth company	☐

	Page

~~Part~~PART I. FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)	34

Condensed Consolidated Balance Sheets as of March 31, ~~2020~~2021 and June 30, ~~2019~~2020	4

Condensed Consolidated Statements of Operations for the Three and Nine Months Ended March 31, ~~2020~~2021 and ~~2019~~2020	5

Condensed Consolidated Statements of Comprehensive (Loss) Income ~~(Loss)~~ for the Three and Nine Months Ended March 31, ~~2020~~2021 and ~~2019~~2020	6

Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended March 31, ~~2020~~2021 and ~~2019~~2020	7

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, ~~2020~~2021 and ~~2019~~2020	8

Notes to Condensed Consolidated Financial Statements	9

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	2526

Item 3. Quantitative and Qualitative Disclosures About Market Risk	3335

Item 4. Controls and Procedures	3335

~~Part~~PART II. OTHER INFORMATION	3436

Item 1. Legal Proceedings	3436

Item 1A. Risk Factors	3437

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	3437

Item 3. Defaults Upon Senior Securities	3438

Item 4. Mine Safety Disclosures	3438

Item 5. Other Information	3438

Item 6. Exhibits	3538

Signatures	3639

	•	our future financial performance, including our revenue, cost of revenue, gross profit, gross margin, operating expenses, ability to generate positive cash flow, and ability to achieve and maintain profitability; and the impact of the COVID-19 pandemic thereon;
	•	the sufficiency of our cash and cash equivalents to meet our working capital, capital expenditure, and liquidity needs; and the impact of the COVID-19 pandemic thereon;
	•	our operating subsidiaries' ability to attract and retain customers to use our products, to optimize the pricing for our products, to expand our sales to our customers, and to convince our existing customers to renew subscriptions;
	•	the evolution of technologies affecting our operating subsidiaries' products and markets;
	•	our operating subsidiaries' ability to innovate and provide a superior user experience and our intentions and strategy with respect thereto;
	•	our operating subsidiaries' ability to successfully penetrate enterprise markets; and the impact of the COVID-19 pandemic thereon;
	•	our operating subsidiaries' ability to successfully expand in our existing markets and into new markets, including international markets; and the impact of the COVID-19 pandemic thereon;
	•	the attraction and retention of key personnel;
	•	our ability to effectively manage our growth and future expenses;
	•	worldwide economic conditions, including the economic disruption imposed by the COVID-19 pandemic, and their impact on spending; and
	•	and our operating subsidiaries' ability to comply with modified or new laws and regulations applying to our business, including privacy and data security regulations.

	Three Months Ended March 31,						Nine Months Ended March 31,
	2021			2020			2021		2020

Net income (loss)	$	1,582,808		$	(17,236	)	$	5,154,031	$	(37,258	)

Other comprehensive income:
Foreign currency translation (loss) gain		(17,317	)		(295,100	)		352,829		(125,563	)
Comprehensive income (loss)	$	1,565,491		$	(312,336	)	$	5,506,860	$	(162,821	)

Period Ending March 31, 2020	Preferred Stock (Series B)				Common Stock
	Number of Shares		Amount		Number of Shares		Par Value		Additional Paid - in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total Stockholders' Equity
Balance at June 30, 2019		53,032	$	53		37,237,519	$	37,237	$	9,178,838	$	(175,659	)	$	8,152,861		$	17,193,330
Gain on currency translation		-		-		-		-		-		33,949			-			33,949
Common stock issued for services		-		-		175,000		175		-		-			-			175
Common stock issued for services - earned(1)		-		-		-		-		37,366		-			-			37,366
Net income		-		-		-		-		-		-			54,892			54,892
Balance at September 30, 2019		53,032	$	53		37,412,519	$	37,412	$	9,216,204	$	(141,710	)	$	8,207,753		$	17,319,712
Gain on currency translation		-		-		-		-		-		135,588			-			135,588
Common stock issued for services		-		-		-		-		-		-			-			-
Common stock issued for services - earned(1)		-		-		-		-		76,751		-			-			76,751
Net loss		-		-		-		-		-		-			(74,914	)		(74,914	)
Balance at December 31, 2019		53,032	$	53		37,412,519	$	37,412	$	9,292,955	$	(6,122	)	$	8,132,839		$	17,457,137
Loss on currency translation		-		-		-		-		-		(295,100	)		-			(295,100	)
Common stock issued for services		-		-		-		-		-		-			-			-
Common stock issued for services - earned(1)		-		-		-		-		37,958		-			-			37,958
Net loss		-		-		-		-		-		-			(17,236	)		(17,236	)
Balance at March 31, 2020		53,032	$	53		37,412,519	$	37,412	$	9,330,913	$	(301,222	)	$	8,115,603		$	17,182,759

Period Ending March 31, 2021	Preferred Stock (Series B)						Common Stock
	Number of Shares			Amount			Number of Shares		Par Value		Additional Paid - in Capital			Accumulated Other Comprehensive (Loss) Income			Retained Earnings		Total Stockholders' Equity
Balance at July 1, 2020		53,032		$	53			37,412,519	$	37,412	$	9,330,913		$	(144,744	)	$	9,926,262	$	19,149,896
Gain on currency translation		-			-			-		-		-			72,714			-		72,714
Net income		-			-			-		-		-			-			2,219,434		2,219,434
Balance at September 30, 2020		53,032		$	53			37,412,519	$	37,412	$	9,330,913		$	(72,030	)	$	12,145,696	$	21,442,044
Gain on currency translation		-			-			-		-		-			297,432			-		297,432
Net income		-			-			-		-		-			-			1,351,788		1,351,788
Balance at December 31, 2020		53,032		$	53			37,412,519	$	37,412	$	9,330,913		$	225,402		$	13,497,484	$	23,091,264
Loss on currency translation		-			-			-		-		-			(17,317	)		-		(17,317	)
Conversion of preferred stock to common stock		(3,672	)		(4	)		73,440		74		(70	)		-			-		-
Net income		-			-			-		-		-			-			1,582,808		1,582,808
Balance at March 31, 2021		49,360		$	49			37,485,959	$	37,486	$	9,330,843		$	208,085		$	15,080,292	$	24,656,755

Period Ending March 31, 2019	Preferred Stock (Series B)						Common Stock
	Number of Shares			Amount			Number of Shares		Par Value		Additional Paid - in Capital			Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total Stockholders' Equity
Balance at June 30, 2018		436,951		$	437			29,559,139	$	29,559	$	9,186,132		$	148,808		$	7,611,061		$	16,975,997
Loss on currency translation		-			-			-		-		-			(11,583	)		-			(11,583	)
Reclass of investment gains		-			-			-		-		-			(279,951	)		279,951			-
Net income		-			-			-		-		-			-			285,954			285,954
Balance at September 30, 2018		436,951		$	437			29,559,139	$	29,559	$	9,186,132		$	(142,726	)	$	8,176,966		$	17,250,368
Loss on currency translation		-			-			-		-		-			(47,125	)		-			(47,125	)
Reclass of investment gains		-			-			-		-		-			-			(448	)		(448	)
Net income		-			-			-		-		-			-			63,161			63,161
Balance at December 31, 2018		436,951	��	$	437			29,559,139	$	29,559	$	9,186,132		$	(189,851	)	$	8,239,679		$	17,265,956
Gain on currency translation		-			-			-		-		-			44,912			-			44,912
Conversion of preferred shares		(383,919	)		(384	)		7,678,380		7,678		(7,294	)		-			-			-
Net income		-			-			-		-		-			-			75,884			75,884
Balance at March 31, 2019		53,032		$	53			37,237,519	$	37,237	$	9,178,838		$	(144,939	)	$	8,315,563		$	17,386,752

	●	Wainwright Holdings, Inc. (“Wainwright”), a U.S. based company, is the sole member of two investment services limited liability company subsidiaries, United States Commodity Funds LLC (“USCF”), and USCF Advisers LLC (“USCF Advisers”), each of which manages, operates or is an investment advisor to exchange traded funds organized as limited partnerships or investment trusts that issue shares which trade on the NYSE Arca stock exchange.
	●	Gourmet Foods, Ltd. ~~(“Gourmet Foods”)~~, a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial ~~scale.~~scale and its wholly-owned New Zealand subsidiary company, Printstock Products Limited ("Printstock"), prints specialty wrappers for the food industry in New Zealand and Australia (collectively "Gourmet Foods").
	●	Brigadier Security Systems (2000) Ltd. (“Brigadier”), a Canadian based company, sells and installs commercial and residential alarm monitoring ~~systems.~~systems under the names Brigadier Security Systems and Elite Security in the province of Saskatchewan.
	●	Kahnalytics, Inc. dba/Original Sprout (“Original Sprout”), a U.S. based company, is engaged in the wholesale distribution of hair and skin care products under the brand name Original Sprout on a global scale.
	●	Marygold & Co., ~~("Marygold")~~ a newly formed U.S. based company, together with its wholly-owned limited liability company, Marygold & Co. Advisory Services, LLC, ( collectively "Marygold") was established by Concierge to explore opportunities in the financial technology ("Fintech") space, is still in the development stage as of March 2021, and is estimated to ~~commence operations by August 2020.~~launch commercial services in the current fiscal year. Through March 31, 2021, expenditures have been limited to developing the business model and the associated application development.

	For the Three Months Ended				For the Three Months Ended				For the Three Months Ended				For the Three Months Ended
	March 31, 2020				March 31, 2019				March 31, 2021				March 31, 2020
	Revenue				Revenue				Revenue				Revenue
Fund
USO	$	1,659,435	55	%	$	1,803,427	51	%	$	3,813,588	64	%	$	1,659,435	56	%
BNO										663,973	11	%		153,554	5	%
UNG		688,156	23	%		432,915	12	%		520,978	9	%		688,156	23	%
USCI		322,162	11	%		912,419	25	%		308,497	5	%		322,162	11	%
All Others		316,750	11	%		418,941	12	%		690,049	11	%		163,196	5	%
Total	$	2,986,503	100	%	$	3,567,702	100	%	$	5,997,085	100	%	$	2,986,503	100	%

Category	Estimated Useful Life (in years)
Building		39
Plant and ~~equipment:~~equipment		5 to 10
Furniture and office ~~equipment:~~equipment		3 to 5
Vehicles		3 to 5
~~Buildings~~		~~10 to 39~~

	For the Three Months Ended March 31, 2020								For the Three Months Ended March 31, 2021
	Net Income			Shares		Per Share			Net Income		Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	(17,236	)		37,412,519	$	(0.00	)	$	1,582,808		37,474,535	$	0.04
Effect of dilutive securities
Preferred stock Series B		-			-		-			-		998,624		-
Diluted income per share	$	(17,236	)		37,412,519	$	(0.00	)	$	1,582,808		38,473,159	$	0.04

	For the Three Months Ended March 31, 2019
	Net Income		Shares		Per Share
Basic income per share:
Net income	$	75,884		34,045,383	$	0.00
Effect of dilutive securities
Preferred stock Series B		-		4,252,776		-
Diluted income per share	$	75,884		38,298,159	$	0.00

	For the Nine Months Ended March 31, 2020
	Net Income			Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	(37,258	)		37,383,246	$	(0.00	)
Effect of dilutive securities
Preferred stock Series B		-			-		-
Diluted income per share	$	(37,258	)		37,383,246	$	(0.00	)

	For the Nine Months Ended March 31, 2019
	Net Income		Shares		Per Share
Basic income per share:
Net income	$	424,551		31,021,688	$	0.01
Effect of dilutive securities
Preferred stock Series B		-		7,276,471		-
Diluted income per share	$	424,551		38,298,159	$	0.01

	For the Nine Months Ended March 31, 2021
	Net Income		Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	5,154,031		37,432,889	$	0.14
Effect of dilutive securities
Preferred stock Series B		-		1,040,270		-
Diluted income per share	$	5,154,031		38,473,159	$	0.13

Year Ended June 30,	Lease Amount
2020	$	101,742
2021		345,186
2022		228,464
2023		202,152
2024		107,044
Total minimum lease payments		984,588
Less: present value discount		(137,385	)
Total operating lease liabilities	$	847,203

	March 31,			June 30,
	2021			2020
Domain name	$	36,913		$	36,913
Less: accumulated amortization		(36,913	)		(33,744	)
Total brand name, net	$	-		$	3,169

	(i)	$~~514,435~~500,000 as of March 31, ~~2020~~2021 and June 30, ~~2019~~2020 representing 10% equity investment in a registered investment adviser accounted for on a ~~cost basis, minus impairment, as $500,980, and $13,455 representing deposits and prepayments. The 10% equity investment is carried at~~ cost basis, minus impairment, which we believe approximates fair value, given the lack of observable price changes in orderly transactions. There was no impairment recorded for the ~~nine~~three months ended March 31, ~~2020~~2021 or ~~2019.~~year ended June 30, 2020;
	(ii)	and ~~$9,172~~$40,160 as of March 31, ~~2020~~2021 and $23,607 at June 30, ~~2019~~2020 representing lease deposits and ~~prepayments of rent.~~prepayments.

Balance as of June 30, 2019	$	(175,659	)
Foreign currency translation gain		30,915
Balance as of June 30, 2020		(144,744	)
Foreign currency translation gain		352,829
Balance as of March 31, 2021	$	208,085

Item	Amount
Cash in bank	$	118,774
Accounts receivable		384,222
Prepayments/deposits		1,372
Inventories		509,796
Operating lease right-of-use asset		201,699
Property and equipment		401,681
Intangible assets		134,965
Goodwill		127,683
Deferred tax liability		(68,061	)
Assumed lease liabilities		(201,699	)
Accounts payable and accrued expenses		(376,112	)
Total Purchase Price	$	1,234,320

	Three Months Ended March 31, 2020			Three Months Ended March 31, 2020			Nine Months Ended March 31, 2020			Nine Months Ended March 31, 2020
	Actual			Pro Forma			Actual			Pro Forma
Net revenues	$	5,901,956		$	6,520,905		$	17,723,462		$	19,645,329
Net (loss) income	$	(17,236	)	$	(30,752	)	$	(37,258	)	$	5,252
Basic earnings per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	0.00
Diluted earnings per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	0.00

Exhibit Number		Description of Document

~~2.1~~		~~Agreement for Sale and Purchase of a Business, dated May 29, 2015, by and between Gourmet Foods Ltd. and Concierge Technologies, Inc.~~³
~~2.2~~		~~Stock Purchase Agreement, dated May 27, 2016, by and among Concierge Technologies, Inc., Brigadier Security Systems (2000) Ltd., and the shareholders of Brigadier Security Systems (2000) Ltd.~~⁵
~~2.3~~		Stock Purchase Agreement, dated September 19, 2016 by and among Concierge Technologies, Inc., Wainwright Holdings, Inc. and Each of the Individuals and Entities Executing Signature Pages Attached Thereto⁶
~~2.4~~		~~Asset Purchase Agreement, dated June 24, 2019, by and between Concierge Technologies, Inc., through its wholly owned subsidiary Gourmet Foods Ltd. and RG & MK Wilson Limited.~~¹⁰
~~2.5~~		~~Termination of Asset Purchase Agreement, dated June 24, 2019, by and between Concierge Technologies, Inc., through its wholly owned subsidiary Gourmet Foods Ltd. and RG & MK Wilson Limited.~~¹¹
3.1		Certificate of Designation (Series of Preferred Stock) filed with the Secretary of State of Nevada on September 23, ~~2010.~~2010 ¹.
3.2		Amended Articles of Incorporation of Concierge Technologies, Inc., a Nevada corporation, filed with the Secretary of State of Nevada on April 17, ~~2017.~~2017 ⁷².
3.3		Amended Bylaws of Concierge Technologies, Inc. effective on March 20, ~~2017.~~⁷
~~10.1~~		~~Securities Purchase Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers.~~2017 ²
~~10.2~~		~~Registration Rights Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers.~~²
~~10.3~~		~~Convertible Promissory Note, dated January 27, 2016, by and between Wainwright Holdings, Inc. and Concierge Technologies, Inc.~~⁴
~~10.4~~		~~Amended and Restated Asset Purchase Agreement, dated November 20, 2017, by and between The Original Sprout, LLC and each of the Individual Members of Original Sprout LLC and Kahnalytics, Inc.~~⁸
~~10.5~~		~~Form of Agreement for Sale and Purchase of Shares and Current Account Graham Eric Eagle, Linda Janice Eagle, and Stephen Peter Lunn as Trustees~~ ~~of the GE and LJ Eagle Family Trust as to 266,850 shares, and Graham Eric Eagle of Napier, Company Director, as to 29,650 shares.~~¹³
~~14.1~~		~~Code of Business Conduct and Ethics~~⁹
~~21.1~~		~~Concierge Technologies, Inc. - Subsidiary List~~¹².
31.1(1)		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2(1)		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1(1)		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2(1)		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS	~~101.INS~~	XBRL Instance Document#
101.SCH	~~101.SCH~~	XBRL Taxonomy Extension Schema Document#
101.CAL	~~101.CAL~~	XBRL Taxonomy Extension Calculation Linkbase Document#
101.LAB	~~101.LAB~~	XBRL Taxonomy Extension Labels Linkbase Document#
101.PRE	~~101.PRE~~	XBRL Taxonomy Extension Presentation Linkbase Document#
101.DEF	~~101.DEF~~	XBRL Taxonomy Extension Definition Linkbase Document#

	CONCIERGE TECHNOLOGIES, INC.

Dated: May ~~15, 2020~~14, 2021	By:	/s/ Nicholas Gerber
		Nicholas Gerber
		Chief Executive Officer,	Principal Executive Officer