☒ | Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended December 31, 2016. |
☐ | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . |
Nevada | 90-1133909 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification No.) |
Large accelerated filer | ☐ | Accelerated filer | ☐ | ||
Non-accelerated filer | ☐ (Do not check if a smaller reporting company) | Smaller reporting company | ☒ |
Page | |
Item 1. Financial Statements (Unaudited) | |
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations. | |
Item 3. Quantitative and Qualitative Disclosures About Market Risk. | |
Item 4. Controls and | |
Item 1. Legal | |
Item 1A. Risk | |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. | |
Item 3. Defaults Upon Senior | |
Item 4. Mine Safety | |
Item 5. Other | |
Item 6. | |
Documents | Page | |
Condensed Consolidated Balance Sheets as of | 4 | |
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three | ||
and Six Months Ended | 5 | |
Condensed Consolidated Statements of Cash Flows for the | 6 | |
Notes to Unaudited Condensed Financial Statements | 7 | |
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES | |||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(UNAUDITED) |
December 31, 2016 | June 30, 2016 | |
ASSETS | As Adjusted | |
CURRENT ASSETS: | ||
Cash & cash equivalents | $7,080,786 | $5,454,107 |
Accounts receivable, net | 749,423 | 839,220 |
Accounts receivable, related parties | 2,202,684 | 2,124,105 |
Inventory, net | 496,037 | 436,541 |
Investments | 837,546 | 993 |
Other current assets | 1,263,521 | 755,509 |
Total current assets | 12,629,997 | 9,610,477 |
Restricted cash | 13,847 | - |
Property and equipment, net | 1,036,045 | 1,166,693 |
Goodwill | 219,256 | 219,256 |
Intangible assets - net | 958,256 | 1,018,213 |
Long term assets | 1,723,342 | 1,526,154 |
Total assets | $16,580,743 | $13,540,793 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | $2,941,669 | $2,396,017 |
Accounts payable, related parties | 939,385 | 448,930 |
Purchase consideration payable | - | 214,035 |
Notes payable - related parties | 3,500 | 8,500 |
Notes payable | 8,500 | 8,500 |
Convertible Promissory Notes Payable - related parties, net | 600,000 | 600,000 |
Total liabilities | 4,493,054 | 3,675,982 |
Commitments & Contingencies | ||
Convertible, Preferred stock, 50,000,000 authorized par $0.001 | ||
Series B: 13,108,474 issued and outstanding at December 31, 2016 and June 30, 2016 | 13,108 | 13,108 |
13,108 | 13,108 | |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.001 par value; 900,000,000 shares authorized; 886,753,846 shares issued and outstanding at December 31, 2016 and at June 30, 2016 | 886,754 | 886,754 |
Additional paid-in capital | 9,058,605 | 9,058,605 |
Accumulated other comprehensive income (loss) | (99,702) | (29,503) |
Retained Earnings (Accumulated Deficit) | 2,228,923 | (64,154) |
Total Stockholders' equity | 12,074,580 | 9,851,702 |
Total liabilities and Stockholders' equity | $16,580,743 | $13,540,793 |
The accompanying notes are an integral part of these unaudited consolidated financial statements. |
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES | ||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME (LOSS) | ||||||||||
(UNAUDITED) |
September 30, 2016 | June 30, 2016 | |
ASSETS | ||
CURRENT ASSETS: | ||
Cash & cash equivalents | $991,800 | $1,060,184 |
Accounts receivable, net | 804,949 | 839,220 |
Inventory, net | 445,575 | 436,541 |
Other current assets | 20,847 | 24,876 |
Total current assets | 2,263,171 | 2,360,821 |
Restricted cash | 14,568 | - |
Property and equipment, net | 1,152,717 | 1,166,693 |
Goodwill | 219,256 | 219,256 |
Intangible assets - net | 988,235 | 1,018,213 |
Total assets | $4,637,947 | $4,764,983 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | $1,001,603 | $997,644 |
Purchase consideration payable | 214,035 | 214,035 |
Notes payable - related parties | 303,500 | 308,500 |
Notes payable | 8,500 | 8,500 |
Convertible Promissory Notes Payable - related parties, net | 1,300,000 | 1,300,000 |
Total current liabilities | 2,827,639 | 2,828,680 |
COMMITMENT & CONTINGENCY | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock, 50,000,000 authorized par $0.001 | ||
Series B: 3,754,355 issued and outstanding at September 30, 2016 and June 30, 2016 | 3,754 | 3,754 |
Common stock, $0.001 par value; 900,000,000 shares authorized; 67,953,870 shares issued and outstanding at September 30, 2016 and at June 30, 2016 | 67,954 | 67,954 |
Additional paid-in capital | 8,325,620 | 8,325,620 |
Accumulated other comprehensive income (loss) | (39,241) | (29,503) |
Accumulated deficit | (6,547,778) | (6,431,522) |
Total Stockholders' equity | 1,810,307 | 1,936,303 |
Total liabilities and Stockholders' equity | $4,637,947 | $4,764,983 |
For the Three-Month Periods Ending | For the Six-Month Periods Ending | |||
December 31, | December 31, | |||
2016 | 2015 | 2016 | 2015 | |
As Adjusted | As Adjusted | |||
Net revenue | ||||
Fund management - Related Party | $6,472,531 | $5,645,696 | $12,840,475 | $10,941,614 |
Food products | 1,203,521 | 996,563 | 2,394,081 | 1,610,923 |
Security alarm monitering | 828,114 | - | 1,641,660 | - |
Other | 25,039 | (3,500) | 89,566 | 117,700 |
Net revenue | 8,529,205 | 6,638,759 | 16,965,782 | 12,670,237 |
Cost of revenue | 1,077,615 | 680,083 | 2,190,634 | 1,248,184 |
Gross profit | 7,451,590 | 5,958,676 | 14,775,148 | 11,422,053 |
Operating expense | ||||
General & administrative expense | 1,447,595 | 1,103,195 | 2,731,254 | 3,788,994 |
Fund operations | 1,335,265 | 1,029,646 | 2,769,467 | 1,029,646 |
Marketing | 1,051,152 | 729,691 | 1,831,683 | 1,345,440 |
Depreciation | 101,188 | 58,487 | 199,830 | 96,676 |
Salaries and compensation | 1,909,832 | 1,330,358 | �� 3,260,053 | 1,517,535 |
Total Operating Expenses | 5,845,031 | 4,251,378 | 10,792,286 | 7,778,291 |
Income from operations | 1,606,559 | 1,707,299 | 3,982,862 | 3,643,762 |
Other income (expense) | ||||
Other income | 2,636 | 4,512 | 6,816 | 4,393 |
Interest Income | - | 1,604 | - | 3,297 |
Interest expense | (5,711) | - | (5,689) | - |
Total other expense | (3,075) | 6,116 | 1,127 | 7,689 |
Income before income taxes | 1,603,484 | 1,713,414 | 3,983,989 | 3,651,452 |
Provision of income taxes | (587,038) | (764,340) | (1,657,049) | (1,365,358) |
Net Income | $1,016,446 | $949,074 | $2,326,940 | $2,286,094 |
Other Comprehensive Income (Loss) | ||||
Foreign currency translation gain (loss) | 4,714 | 69,847 | (92,581) | (16,357) |
Comprehensive Income | $1,021,161 | $1,018,921 | $2,234,359 | $2,269,737 |
Weighted average shares of common stock | ||||
Basic | 886,753,846 | 886,753,846 | 886,753,846 | 886,753,846 |
Diluted | 1,153,666,000 | 1,148,923,323 | 1,153,666,000 | 1,148,923,323 |
Net income per common share | ||||
Basic | $0.00 | $0.00 | $0.00 | $0.00 |
Diluted | $0.00 | $0.00 | $0.00 | $0.00 |
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES | ||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME (LOSS) | ||
(UNAUDITED) | ||
For the Three-Month Periods Ending | ||
September 30, | ||
2016 | 2015 | |
Net revenue | $2,095,232 | $721,725 |
Cost of revenue | 1,126,502 | 557,950 |
Gross profit | 968,730 | 163,774 |
Operating expense | ||
General & administrative expense | 1,033,266 | 238,187 |
Total Operating Expenses | 1,033,266 | 238,187 |
Loss from Operations | (64,536) | (74,412) |
Other income (expense) | ||
Other income | 4,916 | - |
Interest Income | - | 1,406 |
Interest expense | (13,256) | - |
Total other expense | (8,340) | 1,406 |
Loss before income taxes | (72,876) | (73,006) |
Provision of income taxes | (43,380) | - |
Net Loss | $(116,256) | $(73,006) |
Other Comprehensive Income (Loss) | ||
Foreign currency translation gain (loss) | (9,738) | (86,204) |
Comprehensive Loss | $(125,995) | $(159,210) |
Weighted average shares of common stock | ||
Basic and diluted | 67,953,870 | 67,953,870 |
Net income per common share | ||
Basic and diluted | $(0.00) | $(0.00) |
The accompanying notes are an integral part of these unaudited consolidated financial statements. |
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES | ||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
(UNAUDITED) | ||||||
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES | ||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||
(UNAUDITED) | ||||
For the Three-Month Periods Ended September 30, | For the Six-Month Periods Ended December 30, | |||
2016 | 2015 | 2016 | 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | As Adjusted | |||
Net loss | $(116,256) | $(73,006) | ||
Adjustments to reconcile net loss to net cash provided by operating activities | ||||
Net Income | $2,326,940 | $2,286,094 | ||
Adjustments to reconcile net income to net cash provided by operating activities | Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation and amortization | 99,512 | 37,329 | 199,830 | 96,676 |
Loss on disposal of equipment | 8,183 | - | 6,220 | - |
(Increase) decrease in current assets: | ||||
Accounts receivable | 32,688 | 180,067 | 62,600 | 189,464 |
Accounts receivable - related party | (78,579) | (194,989) | ||
Deferred taxes | (197,188) | 362,883 | ||
Prepaid income taxes | (437,499) | 263,368 | ||
Inventory | (8,519) | 36,706 | (74,549) | 74,140 |
Other assets | (10,098) | (60,747) | (86,423) | (14,115) |
Increase (decrease) in current liabilities: | ||||
Accounts payable & accrued expenses | 1,504 | 1,072 | 601,393 | 435,981 |
Expense waivers payable - related party | 490,455 | 360,973 | ||
Net cash provided by operating activities | 7,015 | 121,420 | 2,813,200 | 3,860,475 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
Cash paid for acquisition of subsidiary net of subsidiary cash acquired | - | (1,519,802) | (214,035) | (1,519,802) |
Purchase of equipment | (40,357) | (38,361) | (47,346) | (110,585) |
Purchase of investments | (842,994) | (493,047) | ||
Net cash used in investing activities | (40,357) | (1,558,163) | (1,104,374) | (2,123,434) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Repayment of related party loan | (5,000) | - | (5,000) | - |
Purchase of treasury stock | - | (2,200,557) | ||
Net cash used in financing activities | (5,000) | - | (5,000) | (2,200,557) |
Effect of exchange rate change on cash and cash equivalents | (30,041) | (42,034) | (77,147) | (27,677) |
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS | (68,383) | (1,478,776) | 1,626,679 | (491,193) |
CASH & CASH EQUIVALENTS, BEGINNING BALANCE | 1,060,184 | 1,970,062 | 5,454,107 | 3,353,274 |
CASH & CASH EQUIVALENTS, ENDING BALANCE | $991,800 | $491,286 | $7,080,786 | $2,862,081 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||
Cash paid during the period for: | ||||
Interest paid | $5,000 | $- | $5,000 | $- |
Income taxes paid | $800 | $- | $2,200,800 | $2,110,000 |
The accompanying notes are an integral part of these unaudited consolidated financial statements. | The accompanying notes are an integral part of these unaudited consolidated financial statements. | The accompanying notes are an integral part of these unaudited consolidated financial statements. |
December 31, 2016 | ||
Fund | Accounts Receivable | |
USO | $1,256,213 | 57% |
USCI | 445,163 | 20% |
UNG | 303,354 | 14% |
All Others | 197,954 | 9% |
Total | $2,202,684 | 100% |
June 30, 2016 | ||
Fund | Accounts Receivable | |
USO | $1,245,396 | 59% |
USCI | 400,258 | 19% |
UNG | 280,431 | 13% |
All Others | 198,020 | 9% |
Total | $2,124,105 | 100% |
September 30, | June 30, | December 31, 2016 | June 30, 2016 | |
2016 | As Adjusted | |||
Raw materials | $48,817 | $50,023 | $46,711 | $50,023 |
Supplies and packing materials | 96,782 | 77,497 | 119,734 | 77,497 |
Finished goods | 299,977 | 357,351 | 332,366 | 357,351 |
445,575 | 484,871 | 498,811 | 484,871 | |
Less impairment finished goods | - | (48,330) | (2,774) | (48,330) |
Total | $445,575 | $436,541 | $496,037 | $436,541 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Plant and Equipment | $1,346,524 | $1,477,411 | $1,236,138 | $1,477,411 |
Furniture & Office Equipment | 150.549 | 119,123 | 146,076 | 119,123 |
Vehicles | 81,516 | 58,850 | 82,491 | 58,850 |
Total Property and Equipment, Gross | 1,578,589 | 1,655,384 | 1,464,705 | 1,655,384 |
Accumulated Depreciation | (425,872) | (488,691) | (428,660) | (488,691) |
Total Property and Equipment, Net | $1,152,717 | $1,166,693 | $1,036,045 | $1,166,693 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Trained workforce – Gourmet Foods | $51,978 | $51,978 | ||
Trained workforce - Brigadier | 75,795 | 75,795 | ||
Goodwill – Gourmet Foods | 45,669 | 45,669 | ||
Goodwill - Brigadier | 45,814 | 45,814 | ||
$219,256 | $219,256 |
September 30, | June 30, | December 31, 2016 | June 30, 2016 | |
2016 | As Adjusted | |||
Brand name | $402,123 | $402,123 | ||
Domain name | 36,913 | 36,913 | ||
Customer relationships | 500,252 | 500,252 | ||
Non-compete agreement | 84,982 | 84,982 | ||
Recipes | 21,601 | 21,601 | ||
Total | 1,045,871 | 1,045,871 | ||
Less : Accumulated Amortization | (57,636) | (27,658) | (87,615) | (27,658) |
Net Intangibles | $988,235 | $1,018,213 | $958,256 | $1,018,213 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Customer relationships | $500,252 | $500,252 | ||
Less: accumulated amortization | (22,268) | (9,659) | (34,877) | (9,659) |
Total customer relationships, net | $477,984 | $490,593 | $465,375 | $490,593 |
December 31, 2016 | June 30, 2016 | |
As Adjustsed | ||
Brand name | $402,123 | $402,123 |
Less: accumulated amortization | (28,719) | (8,447) |
Total brand name, net | $373,404 | $393,696 |
September 30, | June 30, | |
2016 | 2015 | |
Brand name | $402,123 | $402,123 |
Less: accumulated amortization | (18,583) | (8,447) |
Total brand name, net | $383,540 | $393,696 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2015 | As Adjusted | ||
Domain Name | $36,913 | $36,913 | ||
Less: accumulated amortization | (6,054) | (4,193) | (7,915) | (4,193) |
Total brand name, net | $30,859 | $32,720 | $28,998 | $32,720 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Recipes | $21,601 | $21,601 | ||
Less: accumulated amortization | (5,026) | (3,937) | (6,115) | (3,937) |
Total Recipes, net | $16,575 | $17,664 | $15,486 | $17,664 |
September 30, | June 30, | December 31, 2016 | June 30, 2016 | |
2016 | 2015 | As Adjusted | ||
Non-compete agreement | $84,982 | $84,982 | ||
Less: accumulated amortization | (5,705) | (1,421) | (9,989) | (1,421) |
Total non-compete agreement, net | $79,277 | $83,561 | $94,993 | $83,561 |
Years Ending December 31, | Expense |
2017 | $118,937 |
2018 | $118,937 |
2019 | $118,937 |
2020 | $115,291 |
2021 | $98,536 |
As of December 31, | As of June 31, | |
2016 | 2016 | |
As Adjusted | ||
Deferred tax asset | $12,727 | $19,501 |
PrePaid expenses | 319,868 | 242,582 |
PrePaid income tax | 930,926 | 493,427 |
Notes receivable | 150,000 | 150,000 |
Total | $1,263,521 | $755,509 |
Years Ending September 30, | Expense |
2017 | $118,937 |
2018 | $118,937 |
2019 | $118,937 |
2020 | $117,469 |
2021 | $103,592 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Accounts payable | $221,825 | $288,170 | $1,140,125 | $1,044,026 |
Accrued judgment | 135,000 | 135,000 | ||
Accrued interest | 33,208 | 13,918 | 20,369 | 5,238 |
Taxes payable | 202,718 | 167,683 | 627,920 | 769,224 |
Expense waiver – Funds (related party) | 939,385 | 448,930 | ||
Deferred rent | 16,943 | 19,202 | ||
Accrued payroll and vacation | 151,173 | 127,271 | 580,054 | 127,271 |
Accrued expenses | 257,679 | 265,502 | 421,258 | 295,955 |
Total | $1,001,603 | $997,644 | $3,881,054 | $2,844,847 |
December 31, 2016 | June 30, 2016 | |||
September 30, 2016 | June 30, 2016 | As Adjusted | ||
Notes payable to shareholder, interest rate of 10%, unsecured and payable on July 31, 2004 (past due) | $- | $5,000 | $- | $5,000 |
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due) | 3,500 | 3,500 | ||
Notes payable to affiliate of director/shareholder, interest rate of 4%, unsecured and payable on June 30, 2017 | 300,000 | |||
$303,500 | $308,500 | $3,500 | $8,500 |
Cash | $50,695 |
Accounts Receivable | 259,662 |
Prepaid Expenses | 11,246 |
Inventory | 256,271 |
Property and Equipment | 1,207,762 |
Intangible Assets | 170,784 |
Goodwill | 97,647 |
Total Assets | $2,054,067 |
Accounts Payable | $253,951 |
Employee Entitlements | 46,688 |
Total Liabilities | $300,639 |
Consideration Paid for Net Assets | $1,753,428 |
Assets | |
Cash | 80,391 |
Accounts Receivable | 431,656 |
Inventory | 238,148 |
Prepaid Expenses & Other Assets | 20,001 |
Property, plant and equipment | 20,455 |
Intangible Assets | 875,087 |
Goodwill | 121,609 |
Total Assets | 1,787,348 |
Liabilities | |
Accounts Payable | 187,925 |
Income Tax Payable | 55,953 |
Customer Deposits | 2,640 |
Total Liabilities | 246,518 |
Consideration paid for net assets | 1,540,830 |
3-month Period Ended | 3-month Period Ended | |
September 30, | September 30, | |
2016 | 2015 | |
(Unaudited) | (Unaudited) | |
Revenue | $2,095,232 | $1,891,231 |
Income (Loss) from operations | $(64,536) | $65,989 |
Net loss | $(116,256) | $(57,789) |
Net loss per share available to common stockholders, basic and diluted | $(0.00) | $(0.00) |
3-mo ended December 31, 2015 | 6-mo ended December 31, 2015 | |
Revenue | $7,538,894 | $14,624,581 |
Income from Operations | 1,780,144 | 3,847,213 |
Net Income | $1,009,341 | $2,438,998 |
Net Income per share available to common stockholders, basic and diluted | $0.00 | $0.00 |
Year Ended June 30, | Lease Amount | Lease Amount |
2017 | $103,127 | $65,345 |
2018 | 137,503 | 130,690 |
2019 | 60,715 | 57,707 |
2020 | 18,734 | 17,806 |
2021 | 9,388 | 1,487 |
2022 | 2,347 | |
Total Minimum Lease Commitment | $331,814 | $273,035 |
Year Ended June 30, | Lease Amount | Lease Amount |
2017 | $54,604 | $23,524 |
2018 | 33,256 | 32,537 |
2019 | 30,484 | 29,826 |
Total Minimum Lease Commitment | $118,344 | $85,887 |
Year ended June 30, | Lease Amount |
2017 | $66,002 |
2018 | 134,645 |
2019 | 45,322 |
Total minimum lease commitment | $245,969 |
As of December 31, 2016 | As of June 30, 2016 | |||
As of September 30, 2016 | As of June 30, 2016 | As Adjusted | ||
Identifiable assets: | ||||
Corporate headquarters | $1,524,134 | $1,521,210 | $1,299,226 | $1,521,210 |
U.S.A. | 86,944 | 87,790 | ||
U.S.A. : fund management | 12,167,931 | 8,575,810 | ||
U.S.A. : data streaming | 82,032 | 87,790 | ||
New Zealand | 2,024,002 | 2,199,128 | 1,916,937 | 2,199,128 |
Canada | 1,002,866 | 956,855 | 1,114,617 | 956,855 |
Consolidated | $4,637,947 | $4,764,983 | $16,580,743 | $13,540,793 |
3-Months Ended September 30, 2016 | 3-Months Ended September 30, 2015 | 3-Months Ended December 31, 2016 | 3-Months Ended December 31, 2015 | |
Revenues from unaffiliated customers: | As Adjusted | |||
U.S.A. : data streaming and hardware | $64,528 | $121,200 | $25,039 | $(3,500) |
U.S.A. : investment fund management | 6,472,531 | 5,645,696 | ||
New Zealand : Food Industry | 1,205,639 | 600,525 | 1,203,521 | 996,563 |
Canada | 825,065 | - | ||
Canada : Security alarm monitoring | 828,114 | - | ||
Consolidated | $2,095,232 | $721,725 | $8,529,205 | $6,638,759 |
Net income (loss) after taxes: | ||||
Corporate headquarters | $(189,443) | $(73,071) | $(158,990) | $(43,459) |
U.S.A. : Mobile video recording devices | (16,832) | (1,670) | ||
U.S.A. : data streaming and hardware | (16,035) | (4,181) | ||
U.S.A. : investment fund management | 1,068,716 | 966,764 | ||
New Zealand : Food Industry | (25,107) | 2,367 | 17,154 | 29,950 |
Canada : Security alarm monitoring | 115,125 | - | 105,603 | - |
Consolidated | $(116,256) | $(73,006) | $1,016,446 | $949,074 |
6-Months Ended December 31, 2016 | 6-Months Ended December 31, 2015 | |
Revenues from unaffiliated customers: | As Adjusted | |
U.S.A. : data streaming and hardware | $89,566 | $117,700 |
U.S.A. : investment fund management | 12,840,475 | 10,941,614 |
New Zealand : Food Industry | 2,394,081 | 1,610,923 |
Canada : Security alarm monitoring | 1,641,660 | - |
Consolidated | $16,965,782 | $12,670,237 |
Net income (loss) after taxes: | ||
Corporate headquarters | $(337,906) | $(117,161) |
U.S.A. : data streaming and hardware | (32,867) | (1,817) |
U.S.A. : investment fund management | 2,486,232 | 2,376,828 |
New Zealand : Food Industry | (7,640) | 28,244 |
Canada : Security alarm monitoring | 219,121 | - |
Consolidated | $2,326,940 | $2,286,094 |
2016 | 2015 | |
Capital expenditures: | ||
Corporate headquarters | $- | $1,519,802 |
U.S.A | - | - |
New Zealand | 40,357 | 38,361 |
Canada | - | - |
Consolidated | $40,357 | $1,558,163 |
Capital expenditures: | 2016 | 2015 |
Corporate headquarters | $- | $863 |
New Zealand | 43,049 | 109,722 |
Canada | 4,297 | - |
Consolidated | $47,346 | $110,585 |
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 |
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 |
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 (“USCI 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 |
United States Metal Index Fund (“USMI”) | A commodity pool formed in November 2010, and made public June 2012, ceased trading and liquidated March 2015 |
USCF Canadian Crude Oil Index Fund (“UCCO”) | UCCO is currently in registration and has not yet commenced operations. |
Advisers as fund manager for each series within the ETF Trust | |
Equity ETF Trust (“ETF Trust”) | Organized as a Delaware statutory trust in November 2013 |
Stock Split Index Fund (“TOFR”) | Fund launched September 2014 |
Restaurant Leaders Index Fund (“MENU”) | Fund launched November 2016 |
Exhibit Number | Description of Document | |
2 | Stock Purchase Agreement of March 6, 2000 between Starfest, Inc. and MAS Capital, Inc.* | |
2 | Stock Purchase Agreement among Concierge Technologies, Inc., Wireless Village, Inc., Bill Robb and Daniel Britt.++ | |
3.1 | Certificate of Amendment of Articles of Incorporation of Starfest, Inc. and its earlier articles of incorporation.* | |
3.2 | Bylaws of Concierge, Inc., which became the Bylaws of Concierge Technologies upon its merger with Starfest, Inc. on March 20, 2002.* | |
3.5 | Articles of Merger of Starfest, Inc. and Concierge, Inc. filed with the Secretary of State of Nevada on March 1, 2002.** | |
3.6 | Agreement of Merger between Starfest, Inc. and Concierge, Inc. filed with the Secretary of State of California on March 20, 2002.** | |
3.7 | Articles of Incorporation of Concierge Technologies, Inc. filed with the Secretary of State of Nevada on April 20, 2005.+ | |
3.8 | Articles of Merger between Concierge Technologies, Inc., a California corporation, and Concierge Technologies, Inc., a Nevada corporation, filed with the Secretary of State of Nevada on March 2, 2006 and the Secretary of State of California on October 5, 2006.+ | |
3.9 | Certificate of Designation (Series of Preferred Stock) filed with the Secretary of State of Nevada on September 23, 2010. | |
3.10 | Certificate of Amendment of Articles of Incorporation (increasing authorized stock) filed with the Secretary of State of Nevada on December 20, 2010. | |
10.1 | Agreement of Merger between Starfest, Inc. and Concierge, Inc.* | |
10.2 | Securities Purchase Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers. **** | |
10.3 | Registration Rights Agreement, dated January 26, 2015, by and among Concierge Technologies, Inc. and Purchasers. **** | |
10.4 | Consulting Agreement, dated January 26, 2015, by and between Concierge Technologies, Inc. and David Neibert. **** |
10.5 | Stock Redemption Agreement, dated February 26, 2015, by and among Concierge Technologies, Inc. the Shareholders and Janus Cam. ..**(** | |
10.6 | Distribution Agreement, dated March 4, 2015, by and between Concierge Technologies, Inc. and Janus Cam. ***** | |
10.7 | Convertible Promissory Note by and between Wainwright Holdings, Inc. and Concierge Technologies, Inc. dated January 27, 2016. ****** | |
10.8 | 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. ******* | |
10.9 | Stock Purchase Agreement By and Among Concierge Technologies, Inc., Wainwright Holdings, Inc. and Each of the Individuals and Entities Executing Signature Pages Attached Thereto********* | |
14 | Code of Ethics for CEO and Senior Financial Officers. *** | |
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. |
CONCIERGE TECHNOLOGIES, INC. | |||
Dated: February 21, 2017 | By: | /s/ Nicholas Gerber | |
Nicholas Gerber | |||
Chief Executive Officer |