Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2017 | Nov. 10, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | CONCIERGE TECHNOLOGIES INC | |
Entity Central Index Key | 1,005,101 | |
Trading Symbol | cncg | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 886,753,847 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 7,329,365 | $ 6,730,486 |
Accounts receivable, net | 785,455 | 871,570 |
Accounts receivable, related parties | 1,646,503 | 1,762,271 |
Inventory, net | 782,268 | 444,274 |
Prepaid income tax and tax receivable | 1,180,646 | 1,276,540 |
Investments | 3,556,997 | 3,578,749 |
Other current assets | 315,838 | 369,599 |
Total current assets | 15,597,072 | 15,033,489 |
Restricted cash | 14,618 | 14,870 |
Property and equipment, net | 1,301,343 | 1,159,465 |
Goodwill | 498,973 | 498,973 |
Intangible assets, net | 869,297 | 899,276 |
Deferred tax assets, net | 1,502,116 | 1,480,272 |
Other assets, long - term | 509,538 | 509,538 |
Total assets | 20,292,957 | 19,595,883 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 2,435,500 | 2,842,855 |
Expense waivers - related parties | 648,117 | 589,093 |
Notes payable - related parties | 3,500 | 3,500 |
Equipment loans | 38,140 | 17,388 |
Total current liabilities | 3,125,257 | 3,452,836 |
LONG TERM LIABILITIES | ||
Notes payable - related parties | 600,000 | 600,000 |
Equipment loans | 226,946 | 72,605 |
Deferred tax liabilities | 258,601 | 258,601 |
Total liabilities | 4,210,804 | 4,384,042 |
Commitments and contingencies | ||
Convertible, Preferred stock, 50,000,000 authorized par $0.001 Series B convertible preferred stock: 13,108,474 issued and outstanding at September 30, 2017 and June 30, 2017 | 2,011,934 | 2,011,934 |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.001 par value; 900,000,000 shares authorized; 886,753,847 shares issued and outstanding at September 30, 2017 and June 30, 2017 | 886,754 | 886,754 |
Additional paid-in capital | 6,317,440 | 6,317,440 |
Accumulated other comprehensive income (loss) | 117,946 | 119,338 |
Retained earnings (accumulated deficit) | 6,748,079 | 5,876,375 |
Total stockholders' equity | 14,070,219 | 13,199,907 |
Total liabilities, convertible preferred stock, and stockholders' equity | 20,292,957 | 19,595,883 |
Series B Convertible Preferred Stock [Member] | ||
LONG TERM LIABILITIES | ||
Convertible, Preferred stock, 50,000,000 authorized par $0.001 Series B convertible preferred stock: 13,108,474 issued and outstanding at September 30, 2017 and June 30, 2017 | $ 2,011,934 | $ 2,011,934 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2017 | Jun. 30, 2017 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 900,000,000 | 900,000,000 |
Common stock, issued (in shares) | 886,753,847 | 886,753,847 |
Common stock, outstanding (in shares) | 886,753,847 | 886,753,847 |
Series B Convertible Preferred Stock [Member] | ||
Convertible preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Convertible preferred stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Convertible preferred stock, issued (in shares) | 13,108,474 | 13,108,474 |
Convertible preferred stock, outstanding (in shares) | 13,108,474 | 13,108,474 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net revenue | ||
Fund management - related party | $ 5,157,948 | $ 6,367,944 |
Food products | 1,294,290 | 1,205,639 |
Security alarm monitoring | 789,192 | 825,065 |
Other | 22,855 | 64,527 |
Net revenue | 7,264,285 | 8,463,175 |
Cost of revenue | 1,271,524 | 1,271,091 |
Gross profit | 5,992,761 | 7,192,084 |
Operating expense | ||
General and administrative expense | 1,239,944 | 1,452,048 |
Fund operations | 1,276,543 | 1,434,202 |
Marketing | 841,975 | 770,366 |
Depreciation and amortization | 114,736 | 99,512 |
Salaries and compensation | 1,130,133 | 1,055,752 |
Total operating expenses | 4,603,331 | 4,811,880 |
Income from operations | 1,389,430 | 2,380,204 |
Other (expense) income | ||
Other (expense) income | (12,049) | 4,916 |
Interest income | 2,188 | |
Interest expense | (11,098) | (13,256) |
Total other (expense), net | (20,959) | (8,340) |
Income before income taxes | 1,368,471 | 2,371,864 |
Provision of income taxes | 496,767 | 1,070,605 |
Net income | $ 871,704 | $ 1,301,259 |
Weighted - average shares of common stock | ||
Basic (in shares) | 886,753,847 | 886,753,847 |
Diluted (in shares) | 1,148,923,324 | 1,148,923,324 |
Net income per common share | ||
Basic (in dollars per share) | $ 0 | $ 0 |
Diluted (in dollars per share) | $ 0 | $ 0 |
Consolidated Consolidated State
Consolidated Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 871,704 | $ 1,301,259 |
Other comprehensive income (loss): | ||
Foreign currency translation gain (loss) | 42,705 | (9,915) |
Changes in short - term investment valuation | (44,097) | (694) |
Comprehensive income | $ 870,312 | $ 1,290,650 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 871,704 | $ 1,301,259 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 114,736 | 99,512 |
Realized loss on sale of investments | 35,803 | |
Realized (gain) loss on disposal of equipment | (1,680) | 8,183 |
(Increase) decrease in current assets: | ||
Accounts receivable | 98,528 | 32,688 |
Accounts receivable - related party | 115,768 | 72,444 |
Deferred taxes | (21,844) | 133,227 |
Prepaid income taxes | 37,455 | 892,143 |
Inventory | (331,430) | (8,519) |
Other assets | 54,826 | (94,949) |
Increase (decrease) in current liabilities: | ||
Accounts payable and accrued expenses | (377,801) | (316,118) |
Expense waivers payable - related party | 59,023 | 251,802 |
Net cash provided by operating activities | 655,088 | 2,371,672 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of equipment | (237,924) | (40,357) |
Sale of investments | 79,655 | |
Purchase of investments | (102,000) | |
Net cash used in investing activities | (260,269) | (40,357) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from equipment loan | 178,604 | |
Repayment of equipment loan | (7,368) | |
Loans from related parties | (5,000) | |
Net cash provided by (used in) financing activities | 171,236 | (5,000) |
Effect of exchange rate change on cash and cash equivalents | 32,824 | (30,040) |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 598,879 | 2,296,275 |
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE | 6,730,486 | 5,454,107 |
CASH AND CASH EQUIVALENTS, ENDING BALANCE | 7,329,365 | 7,750,382 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid - U.S. | 5,000 | |
Income taxes paid - U.S. | $ 430,800 | $ 800 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. OR GANIZATION AND DESCRIPTION OF BUSINESS Concierge Technologies, Inc., (the “Company” or “Concierge”), a Nevada corporation, operates through its wholly owned subsidiaries who are engaged in varied business activities. The operations of the Company ’s wholly-owned subsidiaries are more particularly described herein but are summarized as follows: ● Wainwright Holdings, Inc. (“Wainwright”), a U.S. based company, is the sole member of two ● Gourmet Foods, Ltd. (“Gourmet Foods”), a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial scale. ● Brigadier Security Systems (“Brigadier”), a Canadian based company, sells and installs commercial and residential alarm monitoring systems. ● Kahnalytics, Inc. (“Kahnalytics”), a U.S. based company, captures and presents data from vehicle-mounted camera devices equipped for live-streaming. This business is being allowed to atrophy as customer contracts expire and management expects to be able to exit the industry within the coming fiscal year. See “Note 13. October 18, 2017, entered into an agreement to acquire the assets of The Original Sprout, LLC, a California limited liability company (“Original Sprout”), which engages in the manufacture and sale of organic, non-toxic, all natural hair care, bath, skin, and styling products. See “Note 18. Concierge manages its operating businesses on a decentralized basis. There are no ’s management in the day-to-day business affairs of its operating subsidiary businesses. Concierge’s corporate management is responsible for capital allocation decisions, investment activities and selection and retention of the Chief Executive to head each of the operating subsidiaries. Concierge's corporate management is also responsible for corporate governance practices, monitoring regulatory affairs, including those of its operating businesses and involvement in governance-related issues of its subsidiaries as needed. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Form 10 2017 10 October 13, 2017 Principles of Consolidation The accompanying condensed consolidated financial statements, which are referred herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Kahnalytics. Wainwright was acquired during the prior fiscal year. Due to the commonality of ownership and control between the two 13 The accompanying Financial Statements as of September 30, 2017 June 30, 2017 July 1, 2016. All significant inter-company transactions and accounts have been eliminated in consolidation. Use of Estimates The preparation of the Financial Statements are in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the consolidated statement of cash flows, cash equivalents include all highly liquid debt instruments with original maturities of three not Concierge ’s corporate office maintains cash balances at a financial institution headquartered in San Diego, California. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 $2.4 September 30, 2017. $250,000. September 30, 2017 $3.2 no none CD$100,000 CD$0.7 US$0.6 September 30, 2017. not September 30, 2017, NZ$0.6 US$0.5 not Accounts Receivable, Related Parties and Accounts Receivable, net Accounts receivable, related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one September 30, 2017 June 30, 2017, no Accounts receivable, net, consist of receivables from the Bridagier, Gourmet Foods and Kahnalytics businesses. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of September 30, 2017 2016, Major Customers & Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is dependent upon its contractual relationship with the alarm monitoring company who purchases the monitoring contracts and provides monitoring services to Brigadier ’s customers. The information included in this Form 10 10 October 13, 2017 49% three September 30, 2017, 32% three September 30, 2017 48% 28% three September 30, 2016. Concierge, through Gourmet Foods, has three 1 2 3 The grocery and food industry is dominated by several large chain operations, which are customers of Gourmet Foods, and there are no three September 30, 2017, 22% 25% 20% 27% three September 30, 2016. second 12% 11% 14% 9% three September 30, 2017 2016 two three September 30, 2017 41% 41% three September 30, 2016. No second 10% no third no one not one For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it man ages and the associated three September 30, 2017 2016, September 30, 2017 June 30, 2017 Three M onths E nded September 30, 2017 Three Months Ended September 30, 2016 Revenue Revenue Fund USO $ 2,943,844 57 % $ 3,619,261 57 % USCI 978,617 19 % 1,373,276 21 % UNG 697,856 14 % 823,113 13 % All Others 537,631 10 % 552,294 9 % Total $ 5,157,948 100 % $ 6,367,944 100 % September 30, 2017 June 30, 2017 Accounts Receivable Accounts Receivable Fund USO $ 906,096 55 % $ 1,060,421 60 % USCI 322,929 20 % 317,032 18 % UNG 240,475 14 % 217,760 12 % All Others 177,003 11 % 167,058 10 % Total $ 1,646,503 100 % $ 1,762,271 100 % Inventory Inventories, consisting primarily of food products and packaging in New Zealand and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or market. Inventories include product cost, inbound freight and warehousing costs. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventories to their market value, if lower. For the three September 30, 2017 2016 0 $684, September 30, 2017 September 30, 2016, $0 $0, September 30, 2017 June 30, 2017 no Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. 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 Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists. 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 There was no three September 30, 2017 three September 30, 2016. Goodwill 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 may two first two not two ’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 three September 30, 2017 2016. Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not There was no three September 30, 2017 2016. Investments and Fair Value of Financial Instruments 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) on the condensed consolidated statements of comprehensive income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 – Fair Value Measurements and Disclosures 820” 820 820 820 1 2 three 820 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 2 not 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 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 Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and monitoring service in Canada, and subscriptions to gathering of live-streaming video recording data displayed online to users. Revenue is accounted for net of sales taxes, sales returns, trade discounts. Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, the delivery has occurred, no ’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. Income Taxes 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 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 not not 50 Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the three September 30, 2017 2016 $0.8 Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation Foreign currency transaction gains and losses can also occur if a transaction is settled in a currency other than the entity's functional currency. ’ equity section of the consolidated balance sheet was approximately $43 $10 three September 30, 2017 2016, three September 30, 2017 2016 no Short-term Investment Valuation Other comprehensive income (loss) attributed to changes in the valuation of short-term investments held by Wainwright was approximately ( $44 $1 three September 30, 2017 2016, Segment Reporting 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 it s subsidiaries (Refer to Note 17 Business Combinations 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 ’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 one may three September 30, 2017 2016, no Reclassifications For comparative purposes, certain 2016 Recent Accounting Pronouncements The Company has reviewed new accounting pronouncements issued between October 13, 2017, 10 10 no ’s consolidated financial position, results of operations or disclosure requirements. |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Income Per Share | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3. BASIC AND DILUTED NET INCOME PER SHARE Basic net income per share is based upon the weighted average number of common shares outstanding. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Diluted net income per share reflect s the effects of shares potentially issuable upon conversion of convertible preferred stock. The components of basic and diluted earnings per share were as follows: For the Three Months Ended September 30, 2017 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 871,704 886,753,847 $ 0.00 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 871,704 1,148,923,324 $ 0.00 For the Three Months Ended September 30, 2016 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,301,259 886,753,847 $ 0.00 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 1,301,259 1,148,923,324 $ 0.00 |
Note 4 - Inventories
Note 4 - Inventories | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. Inventories consisted of the following as of: September 30, June 30, 2017 201 7 Raw materials $ 45,305 $ 43,088 Supplies and packing materials 110,693 125,241 Finished goods 626,270 278,035 782,268 446,364 Less : Impairment of finished goods - (2,090 ) Total $ 782,268 $ 444,274 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5. PROPERTY AND EQUIPMENT Property, plant and equipment consi sted of the following as of: September 30, 2017 June 30, 201 7 Plant and equipment $ 1,478,122 $ 1,460,180 Furniture and office equipment 173,290 162,781 Vehicles 377,960 185,866 Total property and equipment, gross 2,029,372 1,808,827 Accumulated depreciation (728,029 ) (649,362 ) Total property and equipment, net $ 1,301,343 $ 1,159,465 For the three September 30, 2017 2016, $84,757 $69,533, |
Note 6 - Intangible Assets
Note 6 - Intangible Assets | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. INTANGIBLE ASSETS Intangible assets consisted of the following as of: September 30, June 30, 2017 201 7 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 (176,574 ) (146,595 ) Intangibles, net $ 869,297 $ 899,276 CUSTOMER RELATIONSHIPS On August 11, 2015, $66,154 10 June 2, 2016, $434,098 10 September 30, June 30, 2017 201 7 Customer relationships $ 500,252 500,252 Less: accumulated amortization (72,293 ) (59,684 ) Total customer relationships, net $ 427,959 440,568 BRAND NAME On August 11, 2015, $61,429 10 June 2, 2016, $340,694 10 September 30, June 30, 2017 2017 Brand name $ 402,123 $ 402,123 Less: accumulated amortization (58,795 ) (48,660 ) Total brand name, net $ 343,328 $ 353,463 DOMAIN NAME On August 11, 2015, $21,601 5 June 2, 2016, $15,312 5 September 30, June 30, 2017 201 7 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (13,437 ) (11,576 ) Total brand name, net $ 23,476 $ 25,337 RECIPES On August 11, 2015, $21,601 5 September 30, June 30, 2017 201 7 Recipes $ 21,601 $ 21,601 Less: accumulated amortization (9,347 ) (8,257 ) Total recipes, net $ 12,254 $ 13,344 NON-COMPETE AGREEMENT On June 2, 2016, $84,982 5 September 30, June 30, 2017 2017 Non-compete agreement $ 84,982 $ 84,982 Less: accumulated amortization (22,702 ) (18,418 ) Total non-compete agreement, net $ 62,280 $ 66,564 AMORTIZATION EXPENSES The total amortization expense for the three September 30, 2017 2016 $29,979 $29,653, five twelve September 30, Years Ending September 30 , Expense 2018 $ 118,937 2019 118,937 2020 117,469 2021 103,592 2022 90,237 Thereafter 320,125 Total $ 869,297 |
Note 7 - Investments and Fair V
Note 7 - Investments and Fair Value of Financial Instruments | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investment [Text Block] | NOTE 7 . INVESTMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS Wainwright, from time to time, provides initial investments in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one no ’ equity, except for unrealized losses determined to be other-than-temporary, which are included in the consolidated statements of operations and comprehensive income (loss). As of September 30, 2017 June 30, 2017, $3.6 no September 30, 2017 June 30, 2017, no Investments measured at estimated fair value consist of the following as of September 30, 2 017 June 30, 2017: September 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 6,549 $ - $ - $ 6,549 USCI mutual fund investment 2,500,000 49,840 - 2,549,840 MENU ETF investment 768,427 - (1,297 ) 767,130 Hedge asset 289,000 - (56,562 ) 232,438 Other equities 1,577 - (537 ) 1,040 Total short-term investments $ 3,565,553 $ 49,840 $ (58,396 ) 3,556,997 June 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 86,204 $ - $ - $ 86,204 USCI mutual fund investment 2,500,000 - (49,080 ) 2,450,920 MENU ETF investment 768,427 41,473 - 809,900 Hedge asset 187,000 43,746 - 230,746 Other equities 1,577 - (598 ) 979 Total short-term investments $ 3,543,208 $ 85,219 $ (49,678 ) $ 3,578,749 The following table s summarize the valuation of the Company’s securities at September 30, 2017 June 30, 2017 September 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 6,549 $ 6,549 $ - $ - Mutual fund investment 2,549,840 2,549,840 - - ETF investment 767,130 767,130 - - Hedge asset 232,438 - 232,438 - Other equities 1,040 1,040 - - Total $ 3,556,997 $ 3,324,559 $ 232,438 $ - June 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 86,204 $ 86,204 $ - $ - Mutual fund investment 2,450,920 2,450,920 - - ETF investment 809,900 809,900 - - Hedge asset 230,746 - 230,746 - Other equities 979 979 - - Total $ 3,578,749 $ 3,348,003 $ 230,746 $ - During the three September 30, 2017 and 2016, no 1 2. |
Note 8 - Other Assets, Restrict
Note 8 - Other Assets, Restricted Cash, and Long-term Assets | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 8 . OTHER ASSETS, RESTRICTED CASH, AND LONG-TERM ASSETS Other Current Assets Other current assets totaling $ 315,838 September 30, 2017 $369,599 June 30, 2017 September 30, June 30, 2017 2017 Prepaid expenses and deposits 151,983 212,301 Notes receivable 150,000 150,000 Other current assets 13,855 7,298 Total $ 315,838 $ 369,599 Restricted Cash At September 30, 2017 NZ$20,000 US$14,618 one June 30, 2017 US$14,870. Long-Term Assets Other long-term assets totaling $509,538 September 30, 2017 June 30, 2017 (i) $500,000 September 30, 2017 June 30, 2017 10% (ii) and $9,538 September 30, 2017 June 30, 2017 |
Note 9 - Goodwill
Note 9 - Goodwill | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | NOTE 9 . GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in business combinations. There was no three September 30, 2017. |
Note 10 - Accounts Payable and
Note 10 - Accounts Payable and Accrued Expenses | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 10 . ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: September 30, 2017 June 30, 2017 Accounts payable $ 1,421,291 $ 1,781,772 Accrued interest 38,916 32,410 Taxes payable - 123 Deferred rent 11,632 13,402 Accrued payroll and vacation pay 436,094 349,507 Accrued expenses 527,567 665,641 Total $ 2,435,500 $ 2,842,855 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | N OTE 11 . RELATED PARTY TRANSACTIONS Notes Payable - Related Parties Current related party notes payable consist of the following: September 30 , 2017 June 30, 201 7 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 Interest expense for all re lated party notes for the three September 30, 2017 2016 $6,120 $6,120 Wainwright - Related Party Transactions The Funds managed by USCF and USCF Advisers are deemed by management to be related parties. The Company ’s Wainwright revenues, totaling $5.2 $6.4 three September 30, 2017 2016, $1.6 $1.8 September 30, 2017 June 30, 2017, $0.2 $0.3 $0.1 three September 30, 2017 2016, $0.6 September 30, 2017 June 30, 2017, 16 |
Note 12 - Equipment Loans
Note 12 - Equipment Loans | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 12 . EQUIPMENT LOANS As of September 30, 2017, CD$330,490 US$265,086 60 September 30, 2017 June 30, 2017 twelve US$38,140 US$17,388, twelve US$226,946 US$72,605 September 30, 2017 June 30, 2017, three September 30, 2017 2016 US$2,154 $0, |
Note 13 - Business Combinations
Note 13 - Business Combinations | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 13 . BUSINESS COMBINATION S Wainwright Holdings, Inc. On December 9, 2016, 1,741 $0.01 818,799,976 9,354,119 187,082,377 50% 50% July 1, 2015. no |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 14 . STOCKHOLDERS' EQUITY Reverse Stock Split On November 11, 2015, ’) of the Company approved the implementation of a one ten 1:10 December 15, 2015. February 26, 2015. 2015. not Our Board and the majority of stockholders have approved the adoption of a one thirty 1:30 thirty one December 31, 2017. Convertible Preferred Stock Series B Voting, Convertible, Preferred Stock ("Series B Stock") is convertible into 20 20 270 issuance has transpired, and provided there are sufficient authorized, unissued, shares of common stock available to convert all shares of Series B Stock. Mezzanine Presentation Upon issuance of the preferred shares in the Wainwright acquisition, the Company no |
Note 15 - Income Taxes
Note 15 - Income Taxes | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 15 . INCOME TAXES The Company accounts for income taxes under the asset and liability method, which recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and their financial statement reported amounts, and for net operating losses and tax credit carryforwards. Deferred income 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 Company records a valuation allowance against deferred tax assets when it is more likely than not not not The Company accounts for uncertain tax positions in accordance with the authoritative guidance on income taxes under which the Company may "more likely than not" As of September 30, 2017, proximately $ 0.2 no September 30, 2017 2016. The Company is required to make its best estimate of the annual effective tax rate for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis. The Company recorded a tax provision of $ 0.5 $1.1 three September 30, 2017 2016, three September 30, 2017 2016 items. The effective tax rate could fluctuate in the future due to changes in the taxable income mix between various jurisdictions. The Company is subject to income taxes in the U.S. federal, various states, Canada and New Zealand tax jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company ’s tax years 2013 2017 three four 2017 four September 30, 2017, no |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | N OTE 16 . COMMITMENTS AND CONTINGENCIES Lease Commitments Gourmet Foods has operating leases for its office, factory and warehouse facilities located in Tauranga, New Zealand, as well as for certain equipment including vehicles. These leases are generally for three three August 2018 August 2021, 11,651 September 30, 2017. Future minimum lease payments for Gourmet Foods are as follows: Year Ended June 30, Lease Amount 2018 $ 104,860 2019 62,299 2020 18,390 2021 10,680 2022 1,780 Total minimum lease commitment $ 198,009 Gourmet Foods entered into a General Security Agreement in favor of the Gerald O ’Leary Family Trust and registered on the Personal Property Securities Register for a priority sum of NZ$110,000 US$79,264 NZ$20,000 US$14,615 Brigadier leases office and storage facilities in Saskatoon and Regina, Saskatchewan. Only the Saskatoon facility has an extended lease where the minimum lease obligations through their expiry dates are indicated as below and require monthly payments of approximately US$4,527 September 30, 2017. Future minimum lease payments for Brigadier are as follows: Year Ended June 30, Lease Amount 2018 $ 26,303 2019 32,148 Total minimum lease commitment $ 58,451 The total amount of rent paid by our foreign subsidiaries, including the minimum lease payments as noted above, for the three September 30, 2017 41,201 three September 30, 2016 $36,257. Wainwright leases office space in Oakland, California under an operating lease, which expires in October 2018. 36,000 $35,000 three September 30, 2017 2016, Future minimum rental payments required under the operating lease, which has remaining non-cancellable lease terms in excess of one Year ended June 30, Lease Amount 2018 $ 102,000 2019 45,000 Total minimum lease commitment $ 147,000 Other Agreements and Commitments USCF Advisers has entered into expense limitation agreements with three Advisers has agreed to waive, reimburse fees or pay fund expenses in order to limit the fund’s total annual operating expenses to certain threshold amounts. Two of the funds, TOFR and MENU, are covered by an agreement which remain in effect until October 31, 2017 0.55% 0.65%, third July 31, 2018 1.30% 0.95% After such dates, USCF Advisers may not 90 18 USCF manages seven amounts. As of September 30, 2017 June 30, 2017 $648,117 $589,093, three September 30, 2017 2016 $190,000 $252,000, no Litigation From time to time, the Company is involved in legal proceedings arising mainly from the ordinary course of its business. In management ’s opinion, the legal proceedings are not . Retirement Plan Wainwright's wholly owned subsidiary USCF, has a 401 21 1,000 one may no the three September 30, 2017 2016, |
Note 17 - Segment Reporting
Note 17 - Segment Reporting | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | N OTE 17 . SEGMENT REPORTING With the acquisition of Wainwright Holdings, Gourmet Foods, Ltd. and Brigadier, the Company has identified four ’s operations in the U.S.A. include the gathering of live-streaming video recording data displayed online to subscribers through our wholly owned subsidiary Kahnalytics, Inc. and the income derived from management of various investment funds by our subsidiary Wainwright. In New Zealand operations include the production, packaging and distribution on a commercial scale of gourmet meat pies and related bakery confections through our wholly owned subsidiary Gourmet Foods, Ltd. and in Canada we provide security alarm system installation and monitoring to residential and commercial customers sold through our wholly owned subsidiary Brigadier. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third The following table presents a summa ry of identifiable assets as of September 30, 2017 June 30, 2017: September 30, 2017 June 30, 201 7 Identifiable assets: Corporate headquarters $ 4,012,745 $ 3,302,979 U.S.A. : investment fund management 12,233,436 12,721,559 U.S.A. : data streaming and hardware 93,367 89,459 New Zealand: food industry 1,989,295 2,203,725 Canada: security alarm monitoring 1,964,114 1,278,161 Consolidated total $ 20,292,957 $ 19,595,883 The following table presents a summary of ope rating information for the three September 30, 2017 2016: Three-Months Ended September 30, 2017 Three-Months Ended September 30 , 2016 Revenues from unaffiliated customers: U.S.A. : data streaming and hardware $ 22,855 $ 64,528 U.S.A. : investment fund management 5,157,948 6,367,944 New Zealand : food industry 1,294,290 1,205,638 Canada : security alarm monitoring 789,192 825,065 Consolidated total $ 7,264,285 $ 8,463,175 Net income (loss) after taxes: Corporate headquarters $ (160,339 ) $ (189,442 ) U.S.A. : data streaming and hardware 2,539 (16,832 ) U.S.A. : investment fund management 930,726 1,417,515 New Zealand : food industry 4,789 (25,107 ) Canada : security alarm monitoring 93,989 115,125 Consolidated total $ 871,704 $ 1,301,259 The following table presents a summary of capital expenditures for the three September 30, 2017 2016: Capital expenditures: Three Months Ended September 30, 2017 Three Months Ended September 30, 201 6 New Zealand : food industry $ 50,031 $ 40,357 Canada : security alarm monitoring 187,893 - Consolidated total $ 237,924 $ 40,357 |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 18 . SUBSEQUENT EVENTS 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 other than the items noted below. On October 18, 2017, through its wholly owned subsidiary Kahnalytics, the Company entered into an Asset Purchase Agreement which, if effectuated, will result in the purchase of all of the assets of The Original Sprout LLC, a California limited liability company, which engages in the manufacture and sale of organic, non-toxic, all natural hair care, bath, skin, and styling products, by Kahnalytics. The purchase price of approximately $3.6 8 October 20, 2017 As it relates to Wainwright, o n September 22, 2017 October 20, 2017 October 31, 2017 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Form 10 2017 10 October 13, 2017 |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying condensed consolidated financial statements, which are referred herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Kahnalytics. Wainwright was acquired during the prior fiscal year. Due to the commonality of ownership and control between the two 13 The accompanying Financial Statements as of September 30, 2017 June 30, 2017 July 1, 2016. All significant inter-company transactions and accounts have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the Financial Statements are in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of the consolidated statement of cash flows, cash equivalents include all highly liquid debt instruments with original maturities of three not Concierge ’s corporate office maintains cash balances at a financial institution headquartered in San Diego, California. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 $2.4 September 30, 2017. $250,000. September 30, 2017 $3.2 no none CD$100,000 CD$0.7 US$0.6 September 30, 2017. not September 30, 2017, NZ$0.6 US$0.5 not |
Premiums Receivable, Allowance for Doubtful Accounts, Estimation Methodology, Policy [Policy Text Block] | Accounts Receivable, Related Parties and Accounts Receivable, net Accounts receivable, related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one September 30, 2017 June 30, 2017, no Accounts receivable, net, consist of receivables from the Bridagier, Gourmet Foods and Kahnalytics businesses. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of September 30, 2017 2016, |
Major Customers, Policy [Policy Text Block] | Major Customers & Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is dependent upon its contractual relationship with the alarm monitoring company who purchases the monitoring contracts and provides monitoring services to Brigadier ’s customers. The information included in this Form 10 10 October 13, 2017 49% three September 30, 2017, 32% three September 30, 2017 48% 28% three September 30, 2016. Concierge, through Gourmet Foods, has three 1 2 3 The grocery and food industry is dominated by several large chain operations, which are customers of Gourmet Foods, and there are no three September 30, 2017, 22% 25% 20% 27% three September 30, 2016. second 12% 11% 14% 9% three September 30, 2017 2016 two three September 30, 2017 41% 41% three September 30, 2016. No second 10% no third no one not one For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it man ages and the associated three September 30, 2017 2016, September 30, 2017 June 30, 2017 Three M onths E nded September 30, 2017 Three Months Ended September 30, 2016 Revenue Revenue Fund USO $ 2,943,844 57 % $ 3,619,261 57 % USCI 978,617 19 % 1,373,276 21 % UNG 697,856 14 % 823,113 13 % All Others 537,631 10 % 552,294 9 % Total $ 5,157,948 100 % $ 6,367,944 100 % September 30, 2017 June 30, 2017 Accounts Receivable Accounts Receivable Fund USO $ 906,096 55 % $ 1,060,421 60 % USCI 322,929 20 % 317,032 18 % UNG 240,475 14 % 217,760 12 % All Others 177,003 11 % 167,058 10 % Total $ 1,646,503 100 % $ 1,762,271 100 % |
Inventory, Policy [Policy Text Block] | Inventory Inventories, consisting primarily of food products and packaging in New Zealand and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or market. Inventories include product cost, inbound freight and warehousing costs. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventories to their market value, if lower. For the three September 30, 2017 2016 0 $684, September 30, 2017 September 30, 2016, $0 $0, September 30, 2017 June 30, 2017 no |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. 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 Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists. 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 There was no three September 30, 2017 three September 30, 2016. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill 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 may two first two not two ’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 three September 30, 2017 2016. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not There was no three September 30, 2017 2016. |
Investments and Fair Value of Financial Instruments, Policy [Policy Text Block] | Investments and Fair Value of Financial Instruments 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) on the condensed consolidated statements of comprehensive income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 – Fair Value Measurements and Disclosures 820” 820 820 820 1 2 three 820 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 2 not 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 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 Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and monitoring service in Canada, and subscriptions to gathering of live-streaming video recording data displayed online to users. Revenue is accounted for net of sales taxes, sales returns, trade discounts. Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, the delivery has occurred, no ’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. |
Income Tax, Policy [Policy Text Block] | Income Taxes 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 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 not not 50 |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the three September 30, 2017 2016 $0.8 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation Foreign currency transaction gains and losses can also occur if a transaction is settled in a currency other than the entity's functional currency. ’ equity section of the consolidated balance sheet was approximately $43 $10 three September 30, 2017 2016, three September 30, 2017 2016 no Short-term Investment Valuation Other comprehensive income (loss) attributed to changes in the valuation of short-term investments held by Wainwright was approximately ( $44 $1 three September 30, 2017 2016, |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting 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 it s subsidiaries (Refer to Note 17 |
Business Combinations Policy [Policy Text Block] | Business Combinations 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 ’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 one may three September 30, 2017 2016, no |
Reclassification, Policy [Policy Text Block] | Reclassifications For comparative purposes, certain 2016 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements The Company has reviewed new accounting pronouncements issued between October 13, 2017, 10 10 no ’s consolidated financial position, results of operations or disclosure requirements. |
Note 2 - Summary of Significa26
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three M onths E nded September 30, 2017 Three Months Ended September 30, 2016 Revenue Revenue Fund USO $ 2,943,844 57 % $ 3,619,261 57 % USCI 978,617 19 % 1,373,276 21 % UNG 697,856 14 % 823,113 13 % All Others 537,631 10 % 552,294 9 % Total $ 5,157,948 100 % $ 6,367,944 100 % September 30, 2017 June 30, 2017 Accounts Receivable Accounts Receivable Fund USO $ 906,096 55 % $ 1,060,421 60 % USCI 322,929 20 % 317,032 18 % UNG 240,475 14 % 217,760 12 % All Others 177,003 11 % 167,058 10 % Total $ 1,646,503 100 % $ 1,762,271 100 % |
Property, Plant and Equipment, Estimated Useful Life [Table Text Block] | Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Note 3 - Basic and Diluted Ne27
Note 3 - Basic and Diluted Net Income Per Share (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, 2017 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 871,704 886,753,847 $ 0.00 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 871,704 1,148,923,324 $ 0.00 For the Three Months Ended September 30, 2016 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,301,259 886,753,847 $ 0.00 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 1,301,259 1,148,923,324 $ 0.00 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, June 30, 2017 201 7 Raw materials $ 45,305 $ 43,088 Supplies and packing materials 110,693 125,241 Finished goods 626,270 278,035 782,268 446,364 Less : Impairment of finished goods - (2,090 ) Total $ 782,268 $ 444,274 |
Note 5 - Property and Equipme29
Note 5 - Property and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2017 June 30, 201 7 Plant and equipment $ 1,478,122 $ 1,460,180 Furniture and office equipment 173,290 162,781 Vehicles 377,960 185,866 Total property and equipment, gross 2,029,372 1,808,827 Accumulated depreciation (728,029 ) (649,362 ) Total property and equipment, net $ 1,301,343 $ 1,159,465 |
Note 6 - Intangible Assets (Tab
Note 6 - Intangible Assets (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | September 30, June 30, 2017 201 7 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 (176,574 ) (146,595 ) Intangibles, net $ 869,297 $ 899,276 September 30, June 30, 2017 201 7 Customer relationships $ 500,252 500,252 Less: accumulated amortization (72,293 ) (59,684 ) Total customer relationships, net $ 427,959 440,568 September 30, June 30, 2017 2017 Brand name $ 402,123 $ 402,123 Less: accumulated amortization (58,795 ) (48,660 ) Total brand name, net $ 343,328 $ 353,463 September 30, June 30, 2017 201 7 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (13,437 ) (11,576 ) Total brand name, net $ 23,476 $ 25,337 September 30, June 30, 2017 201 7 Recipes $ 21,601 $ 21,601 Less: accumulated amortization (9,347 ) (8,257 ) Total recipes, net $ 12,254 $ 13,344 September 30, June 30, 2017 2017 Non-compete agreement $ 84,982 $ 84,982 Less: accumulated amortization (22,702 ) (18,418 ) Total non-compete agreement, net $ 62,280 $ 66,564 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending September 30 , Expense 2018 $ 118,937 2019 118,937 2020 117,469 2021 103,592 2022 90,237 Thereafter 320,125 Total $ 869,297 |
Note 7 - Investments and Fair31
Note 7 - Investments and Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 6,549 $ - $ - $ 6,549 USCI mutual fund investment 2,500,000 49,840 - 2,549,840 MENU ETF investment 768,427 - (1,297 ) 767,130 Hedge asset 289,000 - (56,562 ) 232,438 Other equities 1,577 - (537 ) 1,040 Total short-term investments $ 3,565,553 $ 49,840 $ (58,396 ) 3,556,997 June 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 86,204 $ - $ - $ 86,204 USCI mutual fund investment 2,500,000 - (49,080 ) 2,450,920 MENU ETF investment 768,427 41,473 - 809,900 Hedge asset 187,000 43,746 - 230,746 Other equities 1,577 - (598 ) 979 Total short-term investments $ 3,543,208 $ 85,219 $ (49,678 ) $ 3,578,749 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 6,549 $ 6,549 $ - $ - Mutual fund investment 2,549,840 2,549,840 - - ETF investment 767,130 767,130 - - Hedge asset 232,438 - 232,438 - Other equities 1,040 1,040 - - Total $ 3,556,997 $ 3,324,559 $ 232,438 $ - June 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 86,204 $ 86,204 $ - $ - Mutual fund investment 2,450,920 2,450,920 - - ETF investment 809,900 809,900 - - Hedge asset 230,746 - 230,746 - Other equities 979 979 - - Total $ 3,578,749 $ 3,348,003 $ 230,746 $ - |
Note 8 - Other Assets, Restri32
Note 8 - Other Assets, Restricted Cash, and Long-term Assets (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | September 30, June 30, 2017 2017 Prepaid expenses and deposits 151,983 212,301 Notes receivable 150,000 150,000 Other current assets 13,855 7,298 Total $ 315,838 $ 369,599 |
Note 10 - Accounts Payable an33
Note 10 - Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | September 30, 2017 June 30, 2017 Accounts payable $ 1,421,291 $ 1,781,772 Accrued interest 38,916 32,410 Taxes payable - 123 Deferred rent 11,632 13,402 Accrued payroll and vacation pay 436,094 349,507 Accrued expenses 527,567 665,641 Total $ 2,435,500 $ 2,842,855 |
Note 11 - Related Party Trans34
Note 11 - Related Party Transactions (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30 , 2017 June 30, 201 7 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 |
Note 16 - Commitments and Con35
Note 16 - Commitments and Contingencies (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ended June 30, Lease Amount 2018 $ 104,860 2019 62,299 2020 18,390 2021 10,680 2022 1,780 Total minimum lease commitment $ 198,009 Year Ended June 30, Lease Amount 2018 $ 26,303 2019 32,148 Total minimum lease commitment $ 58,451 Year ended June 30, Lease Amount 2018 $ 102,000 2019 45,000 Total minimum lease commitment $ 147,000 |
Note 17 - Segment Reporting (Ta
Note 17 - Segment Reporting (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, 2017 June 30, 201 7 Identifiable assets: Corporate headquarters $ 4,012,745 $ 3,302,979 U.S.A. : investment fund management 12,233,436 12,721,559 U.S.A. : data streaming and hardware 93,367 89,459 New Zealand: food industry 1,989,295 2,203,725 Canada: security alarm monitoring 1,964,114 1,278,161 Consolidated total $ 20,292,957 $ 19,595,883 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three-Months Ended September 30, 2017 Three-Months Ended September 30 , 2016 Revenues from unaffiliated customers: U.S.A. : data streaming and hardware $ 22,855 $ 64,528 U.S.A. : investment fund management 5,157,948 6,367,944 New Zealand : food industry 1,294,290 1,205,638 Canada : security alarm monitoring 789,192 825,065 Consolidated total $ 7,264,285 $ 8,463,175 Net income (loss) after taxes: Corporate headquarters $ (160,339 ) $ (189,442 ) U.S.A. : data streaming and hardware 2,539 (16,832 ) U.S.A. : investment fund management 930,726 1,417,515 New Zealand : food industry 4,789 (25,107 ) Canada : security alarm monitoring 93,989 115,125 Consolidated total $ 871,704 $ 1,301,259 |
Reconciliation of Capital Expenditures from Segments to Consolidated [Table Text Block] | Capital expenditures: Three Months Ended September 30, 2017 Three Months Ended September 30, 201 6 New Zealand : food industry $ 50,031 $ 40,357 Canada : security alarm monitoring 187,893 - Consolidated total $ 237,924 $ 40,357 |
Note 2 - Summary of Significa37
Note 2 - Summary of Significant Accounting Policies (Details Textual) NZD in Millions, CAD in Millions | 3 Months Ended | |||||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017NZD | Sep. 30, 2017USD ($) | Sep. 30, 2017CAD | Jun. 30, 2017USD ($) | |
Allowance for Doubtful Accounts Receivable | $ 0 | $ 0 | ||||
Asset Impairment Charges | $ 0 | $ 684 | ||||
Inventory Write-down | 0 | 0 | ||||
Inventory Valuation Reserves | 0 | 0 | ||||
Goodwill, Impairment Loss | 0 | 0 | ||||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | ||||
Advertising Expense | 800,000 | 800,000 | ||||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (10,000) | 43,000 | ||||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | $ (44,097) | $ (694) | ||||
Wainwright [Member] | ||||||
Cash, Uninsured Amount | 3,200,000 | |||||
Wainwright [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 100.00% | ||||
Wainwright [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 100.00% | ||||
Brigadier [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 49.00% | 48.00% | ||||
Brigadier [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Percentage | 32.00% | 28.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 22.00% | 20.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | ||||||
Concentration Risk, Percentage | 41.00% | 41.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 12.00% | 11.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Grocery Industry [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gasoline Convenience Store Sector [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Independent Retailers Sector [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 25.00% | 27.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 14.00% | 9.00% | ||||
UNITED STATES | ||||||
Cash, Uninsured Amount | 2,400,000 | |||||
CANADA | Wainwright [Member] | ||||||
Cash, Uninsured Amount | 600,000 | CAD 0.7 | ||||
Non-US [Member] | Wainwright [Member] | ||||||
Cash, Uninsured Amount | NZD 0.6 | $ 500,000 |
Note 2 - Summary of Significa38
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | |
Revenue, related parties | $ 5,157,948 | $ 6,367,944 | |
Accounts receivable, related parties | 1,646,503 | $ 1,762,271 | |
Wainwright [Member] | |||
Revenue, related parties | 5,200,000 | 6,400,000 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | |||
Revenue, related parties | $ 5,157,948 | $ 1,646,503 | |
Revenue, related parties, concentration risk percentage | 100.00% | 100.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||
Revenue, related parties | $ 2,943,844 | $ 906,096 | |
Revenue, related parties, concentration risk percentage | 57.00% | 55.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||
Revenue, related parties | $ 978,617 | $ 322,929 | |
Revenue, related parties, concentration risk percentage | 19.00% | 20.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||
Revenue, related parties | $ 697,856 | $ 240,475 | |
Revenue, related parties, concentration risk percentage | 14.00% | 14.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | All Other Customers [Member] | |||
Revenue, related parties | $ 537,631 | $ 177,003 | |
Revenue, related parties, concentration risk percentage | 10.00% | 11.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | |||
Revenue, related parties, concentration risk percentage | 100.00% | 100.00% | |
Accounts receivable, related parties | $ 6,367,944 | $ 1,762,271 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||
Revenue, related parties, concentration risk percentage | 57.00% | 60.00% | |
Accounts receivable, related parties | $ 3,619,261 | $ 1,060,421 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||
Revenue, related parties, concentration risk percentage | 21.00% | 18.00% | |
Accounts receivable, related parties | $ 1,373,276 | $ 317,032 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||
Revenue, related parties, concentration risk percentage | 13.00% | 12.00% | |
Accounts receivable, related parties | $ 823,113 | $ 217,760 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | |||
Revenue, related parties, concentration risk percentage | 9.00% | 10.00% | |
Accounts receivable, related parties | $ 552,294 | $ 167,058 |
Note 2 - Summary of Significa39
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 3 Months Ended |
Sep. 30, 2017 | |
Minimum [Member] | Machinery and Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Minimum [Member] | Vehicles [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Maximum [Member] | Machinery and Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Maximum [Member] | Vehicles [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 3 - Basic and Diluted Ne40
Note 3 - Basic and Diluted Net Income Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net income available to common shareholders, basic | $ 871,704 | $ 1,301,259 |
Shares, basic (in shares) | 886,753,847 | 886,753,847 |
Net income available to common shareholders, per share (in dollars per share) | $ 0 | $ 0 |
Effect of dilutive securities, shares (in shares) | 262,169,477 | 262,169,477 |
Effect of dilutive securities, per share (in dollars per share) | $ 0 | $ 0 |
Net income available to common shareholders, diluted | $ 871,704 | $ 1,301,259 |
Shares, diltued (in shares) | 1,148,923,324 | 1,148,923,324 |
Diluted income per share, per share (in dollars per share) | $ 0 | $ 0 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Raw materials | $ 45,305 | $ 43,088 |
Supplies and packing materials | 110,693 | 125,241 |
Finished goods | 626,270 | 278,035 |
782,268 | 446,364 | |
Less: Impairment of finished goods | (2,090) | |
Total | $ 782,268 | $ 444,274 |
Note 5 - Property and Equipme42
Note 5 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Depreciation | $ 84,757 | $ 69,533 |
Note 5 - Property and Equipme43
Note 5 - Property and Equipment - Property and Equipment Summary (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Plant and Equipment, Gross | $ 2,029,372 | $ 1,808,827 |
Accumulated depreciation | (728,029) | (649,362) |
Total property and equipment, net | 1,301,343 | 1,159,465 |
Plant and Equipment [Member] | ||
Plant and Equipment, Gross | 1,478,122 | 1,460,180 |
Furniture and Fixtures [Member] | ||
Plant and Equipment, Gross | 173,290 | 162,781 |
Vehicles [Member] | ||
Plant and Equipment, Gross | $ 377,960 | $ 185,866 |
Note 6 - Intangible Assets (Det
Note 6 - Intangible Assets (Details Textual) - USD ($) | Jun. 02, 2016 | Aug. 11, 2015 | Sep. 30, 2017 | Sep. 30, 2016 |
Amortization of Intangible Assets | $ 29,979 | $ 29,653 | ||
Gourmet Foods Acquisition [Member] | Customer Relationships [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 66,154 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Gourmet Foods Acquisition [Member] | Brand Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 61,429 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Gourmet Foods Acquisition [Member] | Domain Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 21,601 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Gourmet Foods Acquisition [Member] | Recipes [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 21,601 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Brigadier Security Systems Acquisition [Member] | Customer Relationships [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 434,098 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Brigadier Security Systems Acquisition [Member] | Brand Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 340,694 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Brigadier Security Systems Acquisition [Member] | Domain Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 15,312 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Brigadier Security Systems Acquisition [Member] | Noncompete Agreements [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 84,982 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years |
Note 6 - Intangible Assets - Su
Note 6 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Finite-lived intangible assets, gross | $ 1,045,871 | $ 1,045,871 |
Less : accumulated amortization | (176,574) | (146,595) |
Total | 869,297 | 899,276 |
Brand Name [Member] | ||
Finite-lived intangible assets, gross | 402,123 | 402,123 |
Less : accumulated amortization | (58,795) | (48,660) |
Total | 343,328 | 353,463 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | 500,252 | 500,252 |
Less : accumulated amortization | (72,293) | (59,684) |
Total | 427,959 | 440,568 |
Domain Name [Member] | ||
Finite-lived intangible assets, gross | 36,913 | 36,913 |
Less : accumulated amortization | (13,437) | (11,576) |
Total | 23,476 | 25,337 |
Recipes [Member] | ||
Finite-lived intangible assets, gross | 21,601 | 21,601 |
Less : accumulated amortization | (9,347) | (8,257) |
Total | 12,254 | 13,344 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | 84,982 | 84,982 |
Less : accumulated amortization | (22,702) | (18,418) |
Total | $ 62,280 | $ 66,564 |
Note 6 - Intangible Assets - Sc
Note 6 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
2,018 | $ 118,937 | |
2,019 | 118,937 | |
2,020 | 117,469 | |
2,021 | 103,592 | |
2,022 | 90,237 | |
Thereafter | 320,125 | |
Total | $ 869,297 | $ 899,276 |
Note 7 - Investments and Fair47
Note 7 - Investments and Fair Value of Financial Instruments (Details Textual) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Available-for-sale Securities | $ 3,556,997 | $ 3,578,749 |
Equity Method Investments | $ 0 | $ 0 |
Note 7 - Investments and Fair48
Note 7 - Investments and Fair Value of Financial Instruments - Investments (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Investments, cost | $ 3,565,553 | $ 3,543,208 |
Investments, gross unrealized gains | 49,840 | 85,219 |
Investments, gross unrealized losses | (58,396) | (49,678) |
Investments | 3,556,997 | 3,578,749 |
Money Market Funds [Member] | ||
Investments, cost | 6,549 | 86,204 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | ||
Investments | 6,549 | 86,204 |
Mutual Fund [Member] | ||
Investments, cost | 2,500,000 | 2,500,000 |
Investments, gross unrealized gains | 49,840 | |
Investments, gross unrealized losses | (49,080) | |
Investments | 2,549,840 | 2,450,920 |
ETF [Member] | ||
Investments, cost | 768,427 | 768,427 |
Investments, gross unrealized gains | 41,473 | |
Investments, gross unrealized losses | (1,297) | |
Investments | 767,130 | 809,900 |
Hedge Asset [Member] | ||
Investments, cost | 289,000 | 187,000 |
Investments, gross unrealized gains | 43,746 | |
Investments, gross unrealized losses | (56,562) | |
Investments | 232,438 | 230,746 |
Other Equities [Member] | ||
Investments, cost | 1,577 | 1,577 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (537) | (598) |
Investments | $ 1,040 | $ 979 |
Note 7 - Investments and Fair49
Note 7 - Investments and Fair Value of Financial Instruments - Valuation of Securities (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Investments | $ 3,556,997 | $ 3,578,749 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments | 3,324,559 | 3,348,003 |
Fair Value, Inputs, Level 2 [Member] | ||
Investments | 232,438 | 230,746 |
Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Money Market Funds [Member] | ||
Investments | 6,549 | 86,204 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 6,549 | 86,204 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Mutual Fund [Member] | ||
Investments | 2,549,840 | 2,450,920 |
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 2,549,840 | 2,450,920 |
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
ETF [Member] | ||
Investments | 767,130 | 809,900 |
ETF [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 767,130 | 809,900 |
ETF [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
ETF [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Hedge Asset [Member] | ||
Investments | 232,438 | 230,746 |
Hedge Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | ||
Hedge Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | 232,438 | 230,746 |
Hedge Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Other Equities [Member] | ||
Investments | 1,040 | 979 |
Other Equities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 1,040 | 979 |
Other Equities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Other Equities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments |
Note 8 - Other Assets, Restri50
Note 8 - Other Assets, Restricted Cash, and Long-term Assets (Details Textual) | Sep. 30, 2017NZD | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) |
Other Assets, Current | $ 315,838 | $ 369,599 | |
Restricted Cash and Cash Equivalents | NZD 20,000 | 14,618 | 14,870 |
Other Assets, Noncurrent | 509,538 | 509,538 | |
Wainwright [Member] | |||
Assets, Noncurrent | 509,538 | ||
Cost Method Investments | $ 500,000 | $ 500,000 | |
Cost Method Investment, Ownership Percentage | 10.00% | 10.00% | 10.00% |
Other Assets, Noncurrent | $ 9,538 | $ 9,538 |
Note 8 - Other Assets, Restri51
Note 8 - Other Assets, Restricted Cash, and Long-term Assets - Other Current Assets (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Prepaid expenses and deposits | $ 151,983 | $ 212,301 |
Notes receivable | 150,000 | 150,000 |
Other current assets | 13,855 | 7,298 |
Total | $ 315,838 | $ 369,599 |
Note 9 - Goodwill (Details Text
Note 9 - Goodwill (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 10 - Accounts Payable an53
Note 10 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Accounts payable | $ 1,421,291 | $ 1,781,772 |
Accrued interest | 38,916 | 32,410 |
Taxes payable | 123 | |
Deferred rent | 11,632 | 13,402 |
Accrued payroll and vacation pay | 436,094 | 349,507 |
Accrued expenses | 527,567 | 665,641 |
Total | $ 2,435,500 | $ 2,842,855 |
Note 11 - Related Party Trans54
Note 11 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | |
Interest Expense, Related Party | $ 6,120 | $ 6,120 | |
Revenue from Related Parties | 5,157,948 | 6,367,944 | |
Accounts Receivable, Related Parties | 1,600,000 | $ 1,800,000 | |
Expense Waiver Funds, Related Party | 200,000 | 300,000 | |
Fund Expense Limitation Amount, Related Party | 100,000 | 100,000 | |
Waivers Payable, Related Party | 600,000 | $ 600,000 | |
Wainwright [Member] | |||
Revenue from Related Parties | $ 5,200,000 | $ 6,400,000 |
Note 11 - Related Party Trans55
Note 11 - Related Party Transactions - Notes Payable (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Notes payable | $ 603,500 | $ 603,500 |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable | 3,500 | 3,500 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable | 250,000 | 250,000 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable | $ 350,000 | $ 350,000 |
Note 11 - Related Party Trans56
Note 11 - Related Party Transactions - Notes Payable (Details) (Parentheticals) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Jun. 30, 2017 | |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable, interest rate | 8.00% | 8.00% |
Notes payable, maturity date | Dec. 31, 2012 | Dec. 31, 2012 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | May 25, 2022 | May 25, 2022 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | Apr. 8, 2022 | Apr. 8, 2022 |
Note 12 - Equipment Loans (Deta
Note 12 - Equipment Loans (Details Textual) | 3 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017CAD | Jun. 30, 2017USD ($) | |
Notes Payable | $ 265,086 | CAD 330,490 | ||
Notes Payable, Current | 38,140 | $ 17,388 | ||
Notes Payable, Noncurrent | 226,946 | $ 72,605 | ||
Interest Expense, Debt | $ 2,154 | $ 0 |
Note 13 - Business Combinatio58
Note 13 - Business Combinations (Details Textual) - $ / shares | Dec. 09, 2016 | Sep. 30, 2017 | Jun. 30, 2017 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Nicholas Gerber and Scott Schoenberger [Member] | Wainwright [Member] | |||
Ownership Percentage | 50.00% | ||
Nicholas Gerber and Scott Schoenberger [Member] | Concierge Technologies [Member] | |||
Ownership Percentage | 50.00% | ||
Wainwright Acquisition Agreement [Member] | |||
Business Combinations, Stock Purchase Agreement, Shares Purchased | 1,741 | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | ||
Convertible Preferred Stock, Shares Issued upon Conversion | 187,082,377 | ||
Wainwright Acquisition Agreement [Member] | Convertible Preferred Stock [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 9,354,119 | ||
Wainwright Acquisition Agreement [Member] | Common Stock [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 818,799,976 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) | Nov. 11, 2015 | Dec. 31, 2017 | Sep. 30, 2017shares |
Series B Convertible Preferred Stock [Member] | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 20 | ||
Convertible Preferred Stock, Conversion Eligible, Days after Issuance has Transpired | 270 days | ||
Reverse Stock Split [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 | ||
Reverse Stock Split [Member] | Scenario, Forecast [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 30 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Unrecognized Tax Benefits | $ 200,000 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | |
Income Tax Expense (Benefit) | $ 496,767 | $ 1,070,605 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | ||
Open Tax Year | 2,013 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | ||
Open Tax Year | 2,017 |
Note 16 - Commitments and Con61
Note 16 - Commitments and Contingencies (Details Textual) | 3 Months Ended | ||||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017NZD | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | |
Expense Waivers | $ 648,117 | $ 589,093 | |||
Expense Waiver Expense | $ 190,000 | $ 252,000 | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | 0 | |||
TOFR [Member] | |||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.55% | 0.55% | |||
MENU [Member] | |||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.65% | 0.65% | |||
Class A Share Class [Member] | |||||
Fund Expense Ratio, Maximum Threshold, Percent | 1.30% | 1.30% | |||
Class I Share Class [Member] | |||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.95% | 0.95% | |||
General Security Lease Agreement [Member] | |||||
Operating Lease Arrangement, Collateral Amount | NZD 110,000 | $ 79,264 | |||
Lease Arrangement for Primary Facility [Member] | |||||
Operating Lease Arrangement, Collateral Amount | NZD 20,000 | $ 14,615 | |||
Gourmet Foods [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | |||||
Lessor, Operating Lease, Term of Contract | 3 years | ||||
Lessor, Operating Lease, Renewal Term | 3 years | ||||
Operating Lease, Monthly Rent | $ 11,651 | ||||
Brigadier [Member] | Leased Office and Storage Facilities Located in Saskatoon, Saskatchewan [Member] | |||||
Operating Lease, Monthly Rent | 4,527 | ||||
Foreign Subsidiaries [Member] | |||||
Payments for Rent | 41,201 | 36,257 | |||
Wainwright [Member] | Leased Office Space in Oakland, California [Member] | |||||
Operating Leases, Rent Expense, Net | $ 36,000 | $ 35,000 | |||
USCF [Member] | |||||
Defined Contribution Plan, Minimum Age Requirement for Participation | 21 years | ||||
Defined Contribution Plan, Minimum Years of Service Requirement | 1 year |
Note 16 - Commitments and Con62
Note 16 - Commitments and Contingencies - Operating Lease Future Minimum Payments (Details) | Sep. 30, 2017USD ($) |
Gourmet Foods [Member] | |
2,018 | $ 104,860 |
2,019 | 62,299 |
2,020 | 18,390 |
2,021 | 10,680 |
2,022 | 1,780 |
Total minimum lease commitment | 198,009 |
Brigadier [Member] | |
2,018 | 26,303 |
2,019 | 32,148 |
Total minimum lease commitment | 58,451 |
Wainwright [Member] | |
2,018 | 102,000 |
2,019 | 45,000 |
Total minimum lease commitment | $ 147,000 |
Note 17 - Segment Reporting (De
Note 17 - Segment Reporting (Details Textual) | 3 Months Ended |
Sep. 30, 2017 | |
Number of Reportable Segments | 4 |
Note 17 - Segment Reporting - R
Note 17 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | Sep. 30, 2017 | Jun. 30, 2017 |
Identifiable assets | $ 20,292,957 | $ 19,595,883 |
Corporate Segment [Member] | ||
Identifiable assets | 4,012,745 | 3,302,979 |
U.S.A Investment Fund Management [Member] | ||
Identifiable assets | 12,233,436 | 12,721,559 |
U.S.A Data Streaming [Member] | ||
Identifiable assets | 93,367 | 89,459 |
New Zealand Food Industry Segment [Member] | ||
Identifiable assets | 1,989,295 | 2,203,725 |
Canada Security Alarm Monitoring Segment [Member] | ||
Identifiable assets | $ 1,964,114 | $ 1,278,161 |
Note 17 - Segment Reporting -65
Note 17 - Segment Reporting - Reconciliation of Revenue by Segment (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net revenue | $ 7,264,285 | $ 8,463,175 |
Net income | 871,704 | 1,301,259 |
U.S.A Data Streaming [Member] | ||
Net revenue | 22,855 | 64,528 |
Net income | 2,539 | (16,832) |
U.S.A Investment Fund Management [Member] | ||
Net revenue | 5,157,948 | 6,367,944 |
Net income | 930,726 | 1,417,515 |
New Zealand Food Industry Segment [Member] | ||
Net revenue | 1,294,290 | 1,205,638 |
Net income | 4,789 | (25,107) |
Canada Security Alarm Monitoring Segment [Member] | ||
Net revenue | 789,192 | 825,065 |
Net income | 93,989 | 115,125 |
Corporate Segment [Member] | ||
Net income | $ (160,339) | $ (189,442) |
Note 17 - Segment Reporting -66
Note 17 - Segment Reporting - Reconciliation of Capital Expenditures by Segment (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Capital expenditures | $ 237,924 | $ 40,357 |
New Zealand Food Industry Segment [Member] | ||
Capital expenditures | 50,031 | 40,357 |
Canada Security Alarm Monitoring Segment [Member] | ||
Capital expenditures | $ 187,893 |
Note 18 - Subsequent Events (De
Note 18 - Subsequent Events (Details Textual) $ in Millions | Oct. 18, 2017USD ($) |
Subsequent Event [Member] | The Original Sprout LLC [Member] | Kahnalytics [Member] | |
Payments to Acquire Businesses, Gross | $ 3.6 |