Document And Entity Information
Document And Entity Information | 6 Months Ended | |
Dec. 31, 2021 | Feb. 11, 2022shares | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001005101 | |
Entity Registrant Name | CONCIERGE TECHNOLOGIES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-29913 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 90-1133909 | |
Entity Address, Address Line One | 120 Calle Iglesia Unit B | |
Entity Address, City or Town | San Clemente | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 92672 | |
City Area Code | 949 | |
Local Phone Number | 429-5370 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Number of Employees | 114 | |
Series B Convertible Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 49,360 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 37,485,959 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | [1] |
CURRENT ASSETS | |||
Cash and cash equivalents | $ 13,285,452 | $ 16,072,955 | |
Accounts receivable, net | 1,165,881 | 1,070,541 | |
Accounts receivable - related parties | 1,782,034 | 2,038,054 | |
Inventories | 2,144,681 | 1,951,792 | |
Prepaid income tax and tax receivable | 1,068,143 | 747,343 | |
Investments | 2,853,574 | 1,828,926 | |
Other current assets | 442,470 | 399,524 | |
Total current assets | 22,742,235 | 24,109,135 | |
Restricted cash | 13,664 | 13,989 | |
Property, plant and equipment, net | 1,560,006 | 1,573,445 | |
Operating lease right-of-use asset | 1,716,883 | 1,058,199 | |
Goodwill | 1,043,473 | 1,043,473 | |
Intangible assets, net | 2,182,817 | 2,341,803 | |
Deferred tax assets, net-U.S. | 827,476 | 827,476 | |
Other assets, long - term | 789,880 | 540,160 | |
Total assets | 30,876,434 | 31,507,680 | |
CURRENT LIABILITIES | |||
Accounts payable, accrued expenses | 3,344,858 | 3,862,874 | |
Expense waivers – related parties | 128,748 | 69,684 | |
Operating lease liabilities, current portion | 687,333 | 513,071 | |
Notes payable - related parties | 603,500 | 603,500 | |
Loans - property and equipment, current portion | 35,090 | 15,094 | |
Total current liabilities | 4,799,529 | 5,064,223 | |
LONG-TERM LIABILITIES | |||
Loans - property and equipment, net of current portion | 491,390 | 379,804 | |
Operating lease liabilities, net of current portion | 1,087,690 | 607,560 | |
Deferred tax liabilities, net-foreign | 169,429 | 169,429 | |
Total long-term liabilities | 1,748,509 | 1,156,793 | |
Total liabilities | 6,548,038 | 6,221,016 | |
STOCKHOLDERS' EQUITY | |||
Preferred stock, $0.001 par value; 50,000,000 authorized Series B: 49,360 issued and outstanding at September 30, 2021 and at June 30, 2021 | 49 | 49 | |
Common stock, $0.001 par value; 900,000,000 shares authorized; 37,485,959 shares issued and outstanding at December 31, 2021 and at June 30, 2021 | 37,486 | 37,486 | |
Additional paid-in capital | 9,330,843 | 9,330,843 | |
Accumulated other comprehensive income | 41,971 | 142,581 | |
Retained earnings | 14,918,047 | 15,775,705 | |
Total stockholders' equity | 24,328,396 | 25,286,664 | |
Total liabilities and stockholders' equity | $ 30,876,434 | $ 31,507,680 | |
[1] | Derived from audited financial statements |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2021 | Jun. 30, 2021 | [1] |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Preferred stock, authorized (in shares) | 50,000,000 | 50,000,000 | |
Preferred stock, issued (in shares) | 49,360 | 49,360 | |
Preferred stock, outstanding (in shares) | 49,360 | 49,360 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Common stock, shares authorized (in shares) | 900,000,000 | 900,000,000 | |
Common stock, shares issued (in shares) | 37,485,959 | 37,485,959 | |
Common stock, shares outstanding (in shares) | 37,485,959 | 37,485,959 | |
[1] | Derived from audited financial statements |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net revenue | ||||
Fund management - related party | $ 5,701,384 | $ 6,149,415 | $ 11,358,411 | $ 13,185,716 |
Net revenue | 9,445,116 | 9,961,822 | 19,173,990 | 20,707,880 |
Cost of revenue | 2,417,798 | 2,378,024 | 5,068,538 | 4,781,584 |
Gross profit | 7,027,318 | 7,583,798 | 14,105,452 | 15,926,296 |
Operating expense | ||||
General and administrative expense | 1,198,209 | 1,641,196 | 3,317,711 | 3,555,259 |
Fund operations | 1,102,237 | 799,658 | 2,203,853 | 1,702,498 |
Marketing and advertising | 690,831 | 742,529 | 1,409,486 | 1,540,351 |
Depreciation and amortization | 133,191 | 177,225 | 287,849 | 343,124 |
Salaries and compensation | 2,576,285 | 2,485,357 | 4,707,440 | 4,181,577 |
Legal settlement | 0 | 0 | 2,500,000 | |
Total operating expenses | 5,700,753 | 5,845,965 | 14,426,339 | 11,322,809 |
(Loss) income from operations | 1,326,565 | 1,737,833 | (320,887) | 4,603,487 |
Other (expense) income: | ||||
Interest and dividend income | 6,088 | 6,799 | 13,484 | 15,442 |
Interest expense | (10,085) | (10,141) | (20,285) | (20,225) |
Other (expense) income | (214,981) | 55,695 | (206,973) | 176,638 |
Total other (expense) income, net | (218,978) | 52,353 | (213,774) | 171,855 |
Income (loss) before income taxes | 1,107,587 | 1,790,186 | (534,661) | 4,775,342 |
Provision of income taxes | (84,252) | (438,398) | (322,997) | (1,204,120) |
Net income (loss) | $ 1,023,335 | $ 1,351,788 | $ (857,658) | $ 3,571,222 |
Weighted average shares of common stock | ||||
Basic and diluted (in shares) | 38,473,159 | 38,473,159 | 38,473,159 | 38,473,159 |
Net income (loss) per common share | ||||
Basic and diluted (in dollars per share) | $ 0.03 | $ 0.04 | $ (0.02) | $ 0.09 |
Food and Beverage [Member] | ||||
Net revenue | ||||
Revenue | $ 2,108,257 | $ 2,134,402 | $ 4,468,402 | $ 4,191,974 |
Security Alarm Monitoring [Member] | ||||
Net revenue | ||||
Revenue | 642,623 | 617,780 | 1,333,253 | 1,297,222 |
Beauty Products [Member] | ||||
Net revenue | ||||
Revenue | $ 992,852 | $ 1,060,225 | $ 2,013,924 | $ 2,032,968 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income (loss) | $ 1,023,335 | $ 1,351,788 | $ (857,658) | $ 3,571,222 |
Other comprehensive income: | ||||
Foreign currency translation (loss) gain | (14,442) | 297,432 | (100,610) | 370,146 |
Comprehensive income (loss) | $ 1,008,893 | $ 1,649,220 | $ (958,268) | $ 3,941,368 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Jun. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Jun. 30, 2020 | $ 53 | $ 37,412 | $ 9,330,913 | $ (144,744) | $ 9,926,262 | $ 19,149,896 | |
Gain (loss) on currency translation | 0 | 0 | 0 | 72,714 | 0 | 72,714 | |
Net income (loss) | $ 0 | $ 0 | 0 | 0 | 2,219,434 | 2,219,434 | |
Balance (in shares) at Sep. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Sep. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (72,030) | 12,145,696 | 21,442,044 | |
Balance (in shares) at Jun. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Jun. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (144,744) | 9,926,262 | 19,149,896 | |
Net income (loss) | 3,571,222 | ||||||
Balance (in shares) at Dec. 31, 2020 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2020 | $ 53 | $ 37,412 | 9,330,913 | 225,402 | 13,497,484 | 23,091,264 | |
Balance (in shares) at Sep. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Sep. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (72,030) | 12,145,696 | 21,442,044 | |
Gain (loss) on currency translation | 0 | 0 | 0 | 297,432 | 0 | 297,432 | |
Net income (loss) | $ 0 | $ 0 | 0 | 0 | 1,351,788 | 1,351,788 | |
Balance (in shares) at Dec. 31, 2020 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2020 | $ 53 | $ 37,412 | 9,330,913 | 225,402 | 13,497,484 | 23,091,264 | |
Balance (in shares) at Jun. 30, 2021 | 49,360 | 37,485,959 | |||||
Balance at Jun. 30, 2021 | $ 49 | $ 37,486 | 9,330,843 | 142,581 | 15,775,705 | 25,286,664 | [1] |
Gain (loss) on currency translation | 0 | 0 | 0 | (86,168) | 0 | (86,168) | |
Net income (loss) | $ 0 | $ 0 | 0 | 0 | (1,880,993) | (1,880,993) | |
Balance (in shares) at Sep. 30, 2021 | 49,360 | 37,485,959 | |||||
Balance at Sep. 30, 2021 | $ 49 | $ 37,486 | 9,330,843 | 56,413 | 13,894,712 | 23,319,503 | |
Balance (in shares) at Jun. 30, 2021 | 49,360 | 37,485,959 | |||||
Balance at Jun. 30, 2021 | $ 49 | $ 37,486 | 9,330,843 | 142,581 | 15,775,705 | 25,286,664 | [1] |
Net income (loss) | (857,658) | ||||||
Balance (in shares) at Dec. 31, 2021 | 49,360 | 37,485,959 | |||||
Balance at Dec. 31, 2021 | $ 49 | $ 37,486 | 9,330,843 | 41,971 | 14,918,047 | 24,328,396 | |
Balance (in shares) at Sep. 30, 2021 | 49,360 | 37,485,959 | |||||
Balance at Sep. 30, 2021 | $ 49 | $ 37,486 | 9,330,843 | 56,413 | 13,894,712 | 23,319,503 | |
Gain (loss) on currency translation | 0 | 0 | 0 | (14,442) | 0 | (14,442) | |
Net income (loss) | $ 0 | $ 0 | 0 | 0 | 1,023,335 | 1,023,335 | |
Balance (in shares) at Dec. 31, 2021 | 49,360 | 37,485,959 | |||||
Balance at Dec. 31, 2021 | $ 49 | $ 37,486 | $ 9,330,843 | $ 41,971 | $ 14,918,047 | $ 24,328,396 | |
[1] | Derived from audited financial statements |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss) income | $ (857,658) | $ 3,571,222 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | ||
Depreciation and amortization | 287,849 | 343,124 |
Bad debt expense | 0 | 14,075 |
Impairment to inventory value | 3,478 | 32,688 |
Unrealized gain on investments | (29,251) | (1,128) |
Loss (gain) on disposal of equipment | 37,189 | (2,122) |
Operating lease right-of-use asset - non-cash lease cost | 337,850 | 231,879 |
Decrease (increase) in current assets: | ||
Accounts receivable | (118,395) | (373,656) |
Accounts receivable - related party | 256,020 | 518,364 |
Prepaid income taxes and tax receivable | (324,699) | 292,905 |
Inventories | (196,514) | (149,153) |
Other current assets | (74,549) | 82,433 |
(Decrease) increase in current liabilities: | ||
Accounts payable, accrued expenses | (486,835) | (466,096) |
Operating lease liabilities | (341,411) | (233,222) |
Expense waivers - related party | 59,064 | 553,336 |
Net cash (used in) provided by operating activities | (1,447,862) | 4,414,649 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash paid for acquisition of business | 0 | (993,435) |
Purchase of real estate and equipment | (3,988) | (30,213) |
Sale of investments | 506,492 | 0 |
Purchase of investments | (1,533,385) | (411) |
Net cash used in investing activities | (1,030,881) | (1,024,059) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayment of property and equipment loans | (7,208) | (3,445) |
Principle payment of finance lease liability | (1,753) | 0 |
Issuance costs pursuant to planned stock issuance | (249,720) | 0 |
Net cash used in financing activities | (258,681) | (3,445) |
Effect of exchange rate change on cash and cash equivalents | (50,404) | 123,331 |
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (2,787,828) | 3,510,476 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 16,086,944 | 9,826,042 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 13,299,116 | 13,336,518 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 8,046 | 7,985 |
Income taxes paid, net of refunds | 632,961 | 859,320 |
Non-cash financing and investing activities: | ||
Reclassification of acquisition deposit | 0 | 122,111 |
Acquisition of operating right-of-use assets through operating lease liability | 995,805 | 730,741 |
Acquisition of equipment through finance lease liability | $ 150,625 | $ 0 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. ORGANIZATION 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., a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial scale and its wholly owned New Zealand subsidiary company, Printstock Products Limited ("Printstock"), prints specialty wrappers for the food industry in New Zealand and Australia (collectively "Gourmet Foods"). ● Brigadier Security Systems ( 2000 ● Kahnalytics, Inc. dba/Original Sprout (“Original Sprout”), a U.S. based company, is engaged in the wholesale distribution of hair and skin care products under the brand name Original Sprout on a global scale. ● Marygold & Co., a newly formed U.S. based company, together with its wholly owned limited liability company, Marygold & Co. Advisory Services, LLC, (collectively "Marygold") was established by Concierge to explore opportunities in the financial technology ("Fintech") space, is still in the development stage as of December 31, 2021, December 31, 2021, ● Marygold & Co. (UK) Limited, a newly formed U.K. limited company (“Marygold UK”), was established to act as a holding company for acquisitions to be made in the U.K. As of December 31, 2021, no no Concierge manages its operating businesses on a decentralized basis. There are no As more fully detailed in the Company’s Definitive Information Statement on Schedule 14C, September 13, 2021, August 24, 2021, February 11, 2022, no no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2021 | |
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 unaudited financial statements on a consolidated basis. In the opinion of management, the accompanying condensed consolidated balance sheets, 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 10 June 30, 2021 September 22, 2021. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements, which are referred to herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier, Original Sprout, Marygold and Marygold UK. All 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 Cash and cash equivalents include all highly liquid debt instruments with original maturities of three $250,000 CD$100,000 not Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net consist of receivables related to the Brigadier, Gourmet Foods and Original Sprout businesses. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not December 31, 2021 June 30, 2021, Accounts receivable - related parties consist of fund asset management fees receivable related to the Wainwright business. Management fees receivable generally consist of one December 31, 2021 June 30, 2021, Major Customers and Suppliers Concentration of Credit Risk Concierge, as a holding company, operates through its wholly owned subsidiaries and has no no no three six December 31, 2021. For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated three six December 31, 2021 December 31, 2020 December 31, 2021 June 30, 2021 For the Three Months Ended For the Three Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 2,975,211 52 % $ 4,202,851 68 % BNO 470,879 8 % 638,111 10 % UNG 686,360 12 % 592,230 10 % USCI 495,779 9 % 216,151 4 % All Others 1,073,155 19 % 500,072 8 % Total $ 5,701,384 100 % $ 6,149,415 100 % For the Six Months Ended For the Six Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 6,117,818 54 % $ 9,096,383 69 % BNO 990,797 9 % 1,396,837 11 % UNG 1,114,147 10 % 1,143,783 9 % USCI 971,363 8 % 466,416 3 % All Others 2,164,286 19 % 1,082,297 8 % Total $ 11,358,411 100 % $ 13,185,716 100 % As of December 31, 2021 As of June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 938,444 53 % $ 1,156,691 57 % BNO 145,083 8 % 196,713 10 % UNG 200,357 11 % 130,543 6 % USCI 157,824 9 % 141,346 7 % All Others 340,326 19 % 412,761 20 % Total $ 1,782,034 100 % $ 2,038,054 100 % Concierge, through Gourmet Foods and following the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 15 one Baking: three 1 2 3 no three December 31, 2021, three December 31, 2020. six December 31, 2021, six December 31, 2020. December 31, 2021 June 30, 2021. second three six December 31, 2021, three six December 31, 2020. December 31, 2021 June 30, 2021, In the gasoline convenience store market customer group, Gourmet Foods supplies two three six December 31, 2021 three six December 31, 2020, No second not December 31, 2021 June 30, 2021, The third no three six December 31, 2021 December 31, 2020, December 31, 2021 June 30, 2021. Printing: one three six December 31, 2021, three six December 31, 2020, December 31, 2021 June 30, 2021, Consolidated: three December 31, 2021 three December 31, 2020. six December 31, 2021, six December 31, 2020. nil%, December 31, 2021 nil%, June 30, 2021. Gourmet Foods, including Printstock, is not one Concierge, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company who provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 49% and 51% of the total Brigadier revenues for the three six December 31, 2021, three six December 31, 2020, December 31, 2021 June 30, 2021. Brigadier purchases alarm panels, digital and analog cameras, mounting hardware and accessory items needed to complete security installations from a variety of sources. The manufacture of electronic items such as those sought by Brigadier has expanded to a global scale thus providing Brigadier with a broad choice of suppliers. Brigadier bases its vendor selection on several criteria including: price, availability, shipping costs, quality, suitability for purpose and the technical support of the manufacturer. Brigadier is not one Concierge, through Original Sprout, has thousands of customers and, from time to time, certain customers become significant during specific reporting periods, but may not three six December 31, 2021 three six December 31, 2020 10% December 31, 2021 June 30, 2021, Concierge, through Original Sprout, is dependent upon its relationship with a product packaging company who, at the direction of Original Sprout, produces the products in accordance with proprietary formulas, packages them in appropriate containers, and delivers the finished goods to Original Sprout for distribution to its customers. All of Original Sprout’s products are currently produced by this packaging company, although if this relationship were to fail there are other similar packaging companies available to Original Sprout at competitive pricing. Because of the nature of the Original Sprout product ingredients, some of the ingredients may, 90 not not not Inventories Inventories, consisting primarily of: (i) food products, printing supplies, and packaging in New Zealand; (ii) hair and skin care finished products and components in the U.S.; and, (iii) security system hardware in Canada, are valued at the lower of cost or net realizable value. Inventories in Canada and New Zealand are maintained on the first first six December 31, 2021 December 31, 2020, Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to operating expense as incurred; additions and 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) Building 39 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 along with the internal use software in process for the business applications of Marygold to be launched in the coming fiscal year. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not six December 31, 2021 June 30, 2021. Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a business combination transaction. Goodwill is tested for impairment on an annual basis during the fourth may first not six December 31, 2021 June 30, 2021. 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 six December 31, 2021 June 30, 2021. 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) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 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 printing of food wrappers in New Zealand, security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees earned each month. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of its recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. The Company has no The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Income. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Condensed Consolidated Statements of Income (Loss), which for the three six December 31, 2021, three six December 31, 2020, three six December 31, 2021 three six December 31, 2020, None Because the Company has no no no 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. Marketing and advertising costs for the three December 31, 2021 December 31, 2020 six December 31, 2021 December 31, 2020 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 Segment Reporting The Company defines operating segments as components for 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 these segments (Refer to Note 16 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 may one may six December 31, 2021 December 31, 2020 no Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 In August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 470 20 may December 15, 2023, December 15, 2020, not In November 2021, 2021 10, Government Assistance (Topic 832 December 15, 2021, not |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Income Per Share | 6 Months Ended |
Dec. 31, 2021 | |
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. This calculation also includes the weighted average number of Series B Convertible Preferred shares outstanding as they are deemed to be substantially similar to the common shares and shareholders are entitled to the same liquidation and dividend rights. 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. The Company does not On August 25, 2021 2021 not December 31, 2021. not 1 not 1 one 14C not Basic and diluted net income per share reflects the effects of shares actually 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 December 31, 2021 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 996,012 37,445,919 $ 0.03 Net income available to preferred shareholders 27,323 1,027,240 $ 0.03 Basic and diluted net income per share $ 1,023,335 38,473,159 $ 0.03 For the Three Months Ended December 31, 2020 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 1,314,521 37,412,519 $ 0.04 Net income available to preferred shareholders 37,267 1,060,640 $ 0.04 Basic and diluted net income per share $ 1,351,788 38,473,159 $ 0.04 For the Six Months Ended December 31, 2021 Net Loss Shares Per Share Basic net loss per share: Net loss available to common shareholders $ (835,651 ) 37,485,959 $ (0.02 ) Net loss available to preferred shareholders (22,007 ) 987,200 $ (0.02 ) Basic and diluted net loss per share $ (857,658 ) 38,473,159 $ (0.02 ) For the Six Months Ended December 31, 2020 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 3,571,222 37,412,519 $ 0.10 Net income available to preferred shareholders 98,453 1,060,640 $ 0.09 Basic and diluted net income per share $ 3,571,222 38,473,159 $ 0.09 |
Note 4 - Inventories
Note 4 - Inventories | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. INVENTORIES Inventories for Gourmet Foods, Brigadier and Original Sprout consisted of the following totals as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Raw materials $ 1,038,700 $ 942,911 Supplies and packing materials 237,991 193,322 Finished goods 867,990 815,559 Total inventories $ 2,144,681 $ 1,951,792 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Plant and equipment(1) $ 2,230,449 $ 2,147,617 Furniture and office equipment 244,536 246,697 Vehicles 393,885 613,891 Land and building 597,574 412,681 Total property, plant and equipment, gross 3,466,444 3,420,886 Accumulated depreciation (2) (1,906,438 ) (1,847,441 ) Total property, plant and equipment, net $ 1,560,006 $ 1,573,445 ( 1 December 31, 2021 ( 2 December 31, 2021. For the three six December 31, 2021 three six December 31, 2020. |
Note 6 - Intangible Assets
Note 6 - Intangible Assets | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. INTANGIBLE ASSETS Intangible assets consisted of the following as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Customer relationships $ 777,375 $ 777,375 Brand name 1,199,965 1,199,965 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Internally developed software 217,990 217,990 Total 3,728,826 3,728,826 Less : accumulated amortization (1,546,009 ) (1,387,023 ) Net intangibles $ 2,182,817 $ 2,341,803 CUSTOMER RELATIONSHIPS On August 11, 2015, June 2, 2016, December 18, 2017 July 1, 2020, December 31, June 30, 2021 2021 Customer relationships $ 777,375 777,375 Less: accumulated amortization (413,413 ) (369,471 ) Total customer relationships, net $ 363,962 407,904 BRAND NAME On August 11, 2015, June 2, 2016, December 18, 2017 may July 1, 2020, no December 31, June 30, 2021 2021 Brand name $ 1,199,965 $ 1,199,965 Less: accumulated amortization (229,890 ) (209,620 ) Total brand name, net $ 970,075 $ 990,345 DOMAIN NAME On August 11, 2015, June 2, 2016, December 31, 2021, December 31, June 30, 2021 2021 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (36,913 ) Total brand name, net $ - $ - RECIPES AND FORMULAS On August 11, 2015, December 18, 2017 December 31, June 30, 2021 2021 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (627,354 ) (551,737 ) Total recipes and formulas, net $ 594,247 $ 669,864 NON-COMPETE AGREEMENT On June 2, 2016, December 18, 2017 December 31, June 30, 2021 2021 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (238,439 ) (219,282 ) Total non-compete agreement, net $ 36,543 $ 55,700 INTERNAL USE SOFTWARE During the quarter ended December 31, 2020, $217,990 December 31, 2021, December 31, 2021, AMORTIZATION EXPENSE The total amortization expense for intangible assets for the three six December 31, 2021 three six December 31, 2020 Estimated remaining amortization expenses of intangible assets for the next five Years Ending June 30, Expense 2022 $ 156,392 2023 292,261 2024 277,378 2025 262,114 2026 150,345 Thereafter 1,044,327 Total $ 2,182,817 |
Note 7 - Other Assets
Note 7 - Other Assets | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7. OTHER ASSETS Other Current Assets Other current assets totaling $442,470 as of December 31, 2021 June 30, 2021 As of December 31, 2021 As of June 30, 2021 Prepaid expenses $ 262,955 $ 373,381 Other current assets 179,515 26,143 Total $ 442,470 $ 399,524 Investments Wainwright, from time to time, provides initial investment in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one no 825, no December 31, 2021 June 30, 2021, no December 31, 2021 June 30, 2021, December 31, 2021 June 30, 2021, December 31, 2021 June 30, 2021, Investments measured at estimated fair value consist of the following as of December 31, 2021 June 30, 2021: December 31, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,299,303 $ 5,378 $ - $ 1,304,681 Other short-term investments 270,413 174 - 270,587 Other equities 1,246,926 31,380 - 1,278,306 Total short-term investments $ 2,816,642 $ 36,932 $ - $ 2,853,574 June 30, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,748 $ 5,378 $ - $ 1,050,126 Other short term investments 772,981 4,568 - 777,549 Other equities 1,421 - (170 ) 1,251 Total short-term investments $ 1,819,150 $ 9,946 $ (170 ) $ 1,828,926 All of the Company's short-term investments are Level 1 December 31, 2021 June 30, 2021. six December 31, 2021 December 31, 2020, no 1 2. Restricted Cash At December 31, 2021 June 30, 2021, NZ$20,000 US$13,664 US$13,989, one Long Term Assets Other long-term assets totaling $789,880 as of December 31, 2021 June 30, 2021 (i) $500,000 as of December 31, 2021 June 30, 2021 six December 31, 2021 June 30, 2021; (ii) $40,160 as of December 31, 2021 June 30, 2021 (iii) $249,720 as of December 31, 2021 June 30, 2021 |
Note 8 - Goodwill
Note 8 - Goodwill | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | NOTE 8. GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in business combinations. The amount recorded in goodwill at December 31, 2021 June 30, 2021 Goodwill is comprised of the following amounts as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Goodwill – Original Sprout 416,817 416,817 Goodwill – Gourmet Foods 275,311 275,311 Goodwill – Brigadier 351,345 351,345 Total $ 1,043,473 $ 1,043,473 The Company tests for goodwill impairment at each reporting unit. There was no goodwill impairment as of December 31, 2021 June 30, 2021. |
Note 9 - Accounts Payable and A
Note 9 - Accounts Payable and Accrued Expenses | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Accounts payable $ 2,407,685 $ 1,672,647 Accrued interest 141,836 129,596 Taxes payable 324,489 238,020 Accrued payroll, vacation and bonus payable 271,950 1,049,359 Accrued operating expenses 198,898 773,252 Total $ 3,344,858 $ 3,862,874 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10. RELATED PARTY TRANSACTIONS Notes Payable - Related Parties Current related party notes payable consist of the following as of December 31, 2021 June 30, 2021: December 31, June 30, 2021 2021 Notes payable to shareholder, interest rate of 8 December 31, 2012 $ 3,500 $ 3,500 Notes payable to shareholder, interest rate of 4 May 25, 2022 250,000 250,000 Notes payable to shareholder, interest rate of 4 April 8, 2022 350,000 350,000 $ 603,500 $ 603,500 Interest expense for all related party notes for the three six December 31, 2021 December 31, 2020 December 31, 2021 June 30, 2021, 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 $5.7 million and $6.1 million for the three December 31, 2021 2020, six December 31, 2021 2020, December 31, 2021 June 30, 2021, $0. 2 three December 31, 2021 December 31, 2020, six December 31, 2021 December 31, 2020, December 31, 2021 June 30, 2021, 14 |
Note 11 - Loans - Property and
Note 11 - Loans - Property and Equipment | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 11. LOANS - PROPERTY AND EQUIPMENT As of December 31, 2021, December 31, 2021 June 30, 2021 twelve three December 31, 2021 December 31, 2020 six December 31, 2021 December 31, 2020 December 31, 2021, June 30, 2021 ( 15, Lease Committments |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12. STOCKHOLDERS' EQUITY Convertible Preferred Stock Each issued Series B Convertible Preferred Stock is convertible into 20 shares of common stock and carries a vote of 20 February 7, 2019, June 30, 2020. January 15, 2021, December 31, 2021. |
Note 13 - Business Combinations
Note 13 - Business Combinations | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 13. BUSINESS COMBINATIONS On March 11, 2020 NZ$1.9 90 July 1, 2020 NZ$1.5M NZ$420,552 December 31, 2020. US$68,061 July 1, 2020. Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right of use asset 201,699 Plant, property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 On August 13, 2021, US$2,100,000 3 February 11, 2022 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14. 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 not" As of December 31, 2021, three six December 31, 2021 December 31, 2020. 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 tax expense of ($84) thousand and ($323) thousand for the three six December 31, 2021, three six December 31, 2020, 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 U.S. tax years 2017 2020 three four 2017 2020 February 14, 2022, no |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 15. COMMITMENTS AND CONTINGENCIES Lease Commitments The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, accrued expenses, and long-term operating lease liabilities in the Consolidated Balance Sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date. The operating lease right-of-use assets also include any lease payments made at or before the commencement date and are reduced by any lease incentives received. The Company’s lease terms may not not not 12 not The Company’s most significant operating leases are real estate leases of office, warehouse and production facilities. The remaining operating leases are primarily comprised of leases of printers and other equipment which are deemed insignificant. For all operating leases, the Company has elected the practical expedient permitted under Topic 842 The Company has one Fixed lease expense payments are recognized on a straight-line basis over the lease term. Variable lease payments vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time. Certain of the Company’s operating lease agreements include variable payments that are passed through by the landlord, such as insurance, taxes, and common area maintenance. Variable payments are deemed immaterial, expensed as incurred, and included within rent expense under general and administrative expense. The Company leases various facilities and offices throughout the world including the following subsidiary locations: Gourmet Foods has operating leases for its office, factory and warehouse facilities located in Tauranga, New Zealand, and facilities leased by its subsidiary, Printstock, in Napier, New Zealand, as well as for certain equipment including printers and copiers. These leases are generally for three October 2022 October 2026, $23,533 not December 31, 2021. one December 2031 not $1,558 December 31, 2021. $2,588 December 31, 2021. November 30, 2023. December 1, 2021 December 2024. For the three December 31, 2021 December 31, 2020, six December 31, 2021 December 31, 2020, December 31, 2021 December 31, 2021 June 30, 2021 December 31, 2021. June 30, 2021. three six December 31, 2021 three six December 31, 2021 Future minimum consolidated lease payments for Concierge and its subsidiaries are as follows: Year Ended June 30, Operating Lease Finance Lease 2022 $ 374,667 $ 10,747 2023 737,420 21,495 2024 479,871 21,495 2025 180,910 21,495 2026 166,677 21,495 Thereafter 69,449 116,427 Total minimum lease payments 2,008,994 213,154 Less: present value discount (233,971 ) (63,868 ) Total lease liabilities $ 1,775,023 $ 149,286 The weighted average remaining lease term for the Company's operating leases was 3.1 years as of December 31, 2021 Additionally, Gourmet Foods, Ltd. 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$75,146 NZ$20,000 US$13,664 Other Agreements and Commitments USCF manages four May 1, 2021 December 31, 2021 June 30, 2021 no As Marygold builds out its application it enters into agreements with various service providers. As of December 31, 2021, 2023. Litigation From time to time, the Company and its subsidiaries may no may, 1. Legal Proceedings SEC and CFTC Wells Notices On November 8, 2021, one On August 17, 2020, April 2020 May 2020 17 1 17 3 1933 10 1934 10b 5 Subsequently, on August 19, 2020, 4o 1 6 1 7 6o 1 9 1 2018 4.26, 4.41, 180.1 17 4.26, 4.41, 180.1 2019 On November 8, 2021, 8A 1933 17 3 1933 15 77q 3 April 24, 2020 May 21, 2020, 17 3 1933 Separately, on November 8, 2021, 6 4o 1 7 6o 1 4.41 2 17 4.41 2 April 22, 2020 June 12, 2020, 4o 1 4.41 2 Pursuant to the SEC Order and the CFTC Order, in addition to the command to cease and desist from committing or causing any violations of Section 17 3 1933 4o 1 4.14 2 two million five hundred thousand $2,500,000 one million two hundred fifty thousand $1,250,000 In re: United States Oil Fund, LP Securities Litigation On June 19, 2020, two July 31, 2020 August 13, 2020, In re: United States Oil Fund, LP Securities Litigation, No. 1:20 04740. On November 30, 2020, 1933 1934 10b 5. February 25, 2020 March 23, 2020 April 2020 19 February 25, 2020 April 28, 2020 The lead plaintiff has filed a notice of voluntary dismissal of its claims against BNP Paribas Securities Corporation, Citadel Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities USA LLC, Deutsche Bank Securities Inc., Morgan Stanley & Company, Inc., Nomura Securities International, Inc., RBC Capital Markets, LLC, SG Americas Securities LLC, and UBS Securities LLC. USCF, USO, and the individual defendants in In re: United States Oil Fund, LP Securities Litigation Mehan Action On August 10, 2020, No. RG20070732. The Mehan Action alleges that the defendants breached their fiduciary duties to USO and failed to act in good faith in connection with a March 19, 2020 19 In re: United States Oil Fund, LP Securities Litigation USCF, USO, and the other defendants intend to vigorously contest such claims. In re United States Oil Fund, LP Derivative Litigation On August 27, 2020, two No. 1:20 06974 No. 1:20 06981 The complaints in the Cantrell and AML Actions are nearly identical. They each allege violations of Sections 10 20 21D 1934 10b 5 2020 19 The Court entered and consolidated the Cantrell and AML Actions under the caption In re United States Oil Fund, LP Derivative Litigation No. 1:20 06974 In re United States Oil Fund, LP Derivative Litigation In re: United States Oil Fund, LP Securities Litigation USCF, USO, and the other defendants intend to vigorously contest the claims in In re United States Oil Fund, LP Derivative Litigation December 31, 2021 June 30, 2021. Other Contingencies On December 2, 2021, 10 80 no Retirement Plan Concierge through its wholly owned subsidiary USCF, has a 401 "401K three may 401K three December 31, 2021 2020, six December 31, 2021 2020, |
Note 16 - Segment Reporting
Note 16 - Segment Reporting | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16. SEGMENT REPORTING With the acquisition of Wainwright, Gourmet Foods, Brigadier, and the launch of the Original Sprout business unit of Kahnalytics, the Company has identified four segments for its products and services; U.S.A. investment fund management, U.S.A. beauty products, New Zealand food industry and Canada security alarm systems. Our recently incorporated subsidiary, Marygold, has not not third The following table presents a summary of identifiable assets as of December 31, 2021 June 30, 2021. December 31, June 30, 2021 2021 Identifiable assets: U.S.A. : investment fund management - related party $ 16,386,171 $ 17,467,044 U.S.A. : beauty products 3,870,938 4,024,803 New Zealand: food industry 4,655,674 3,831,539 Canada: security systems 2,513,760 2,671,286 Corporate headquarters - including Marygold 3,449,891 3,513,008 Consolidated total $ 30,876,434 $ 31,507,680 The following table presents a summary of operating information for the three December 31: Three Months Ended Three Months Ended December 31, 2021 December 31, 2020 Revenues from external customers: U.S.A. : investment fund management - related party $ 5,701,384 $ 6,149,415 U.S.A. : beauty products 992,852 1,060,225 New Zealand : food industry 2,108,257 2,134,402 Canada : security systems 642,623 617,780 Consolidated total $ 9,445,116 $ 9,961,822 Net (loss) income: U.S.A. : investment fund management - related party $ 1,985,141 $ 2,269,276 U.S.A. : beauty products (12,718 ) (61,234 ) New Zealand : food industry 136,465 239,830 Canada : security systems 62,547 31,610 Corporate headquarters - including Marygold (1,148,100 ) (1,127,694 ) Consolidated total $ 1,023,335 $ 1,351,788 The following table presents a summary of operating information for the six December 31: Six Months Ended Six Months Ended December 31, 2021 December 31, 2020 Revenues from external customers: U.S.A. : investment fund management - related party $ 11,358,411 $ 13,185,716 U.S.A. : beauty products 2,013,924 2,032,968 New Zealand : food industry 4,468,402 4,191,974 Canada : security systems 1,333,253 1,297,222 Consolidated total $ 19,173,990 $ 20,707,880 Net (loss) income: U.S.A. : investment fund management - related party $ 1,617,234 $ 5,498,271 U.S.A. : beauty products (8,196 ) 4,038 New Zealand : food industry 289,667 332,128 Canada : security systems 140,954 198,693 Corporate headquarters - including Marygold (2,897,317 ) (2,461,908 ) Consolidated total $ (857,658 ) $ 3,571,222 The following table presents a summary of capital expenditures for the three December 31,: Three Months Ended Three Months Ended December 31, 2021 December 31, 2020 Capital expenditures: U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 428 27,930 New Zealand: food industry - 4,303 Canada: security systems - (7,677 ) U.S.A. : corporate headquarters - including Marygold - - Consolidated $ 428 $ 24,556 The following table presents a summary of capital expenditures for the six December 31,: Six Months Ended Six Months Ended December 31, 2021 December 31, 2020 Capital expenditures: U.S.A.: investment fund management $ - $ - U.S.A.: beauty products 948 28,757 New Zealand: food industry (1) 3,040 417,465 Canada: security systems - (14,981 ) U.S.A.: corporate headquarters - including Marygold - 653 Consolidated $ 3,988 $ 431,894 ( 1 July 2020. 13, Business Combinations The following table represents the property, plant and equipment in use at each of the Company's locations as of December 3, 2021 June 30, 2021: As of December 31, 2021 As of June 30, 2021 Asset Location U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 59,909 58,961 New Zealand: food industry(1) 2,416,722 2,345,569 Canada: security systems 972,069 998,612 U.S.A. : corporate headquarters - including Marygold 17,744 17,744 Total All Locations 3,466,444 3,420,886 Less accumulated depreciation (1,906,438 ) (1,847,441 ) Net property, plant and equipment $ 1,560,006 $ 1,573,445 ( 1 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 17. 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 apart from the events noted below. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Accounting Principles The Company has prepared the accompanying unaudited financial statements on a consolidated basis. In the opinion of management, the accompanying condensed consolidated balance sheets, 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 10 June 30, 2021 September 22, 2021. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying unaudited condensed consolidated financial statements, which are referred to herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier, Original Sprout, Marygold and Marygold UK. All 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 Cash and cash equivalents include all highly liquid debt instruments with original maturities of three $250,000 CD$100,000 not |
Premiums Receivable, Allowance for Doubtful Accounts, Estimation Methodology, Policy [Policy Text Block] | Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net consist of receivables related to the Brigadier, Gourmet Foods and Original Sprout businesses. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not December 31, 2021 June 30, 2021, Accounts receivable - related parties consist of fund asset management fees receivable related to the Wainwright business. Management fees receivable generally consist of one December 31, 2021 June 30, 2021, |
Major Customers, Policy [Policy Text Block] | Major Customers and Suppliers Concentration of Credit Risk Concierge, as a holding company, operates through its wholly owned subsidiaries and has no no no three six December 31, 2021. For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated three six December 31, 2021 December 31, 2020 December 31, 2021 June 30, 2021 For the Three Months Ended For the Three Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 2,975,211 52 % $ 4,202,851 68 % BNO 470,879 8 % 638,111 10 % UNG 686,360 12 % 592,230 10 % USCI 495,779 9 % 216,151 4 % All Others 1,073,155 19 % 500,072 8 % Total $ 5,701,384 100 % $ 6,149,415 100 % For the Six Months Ended For the Six Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 6,117,818 54 % $ 9,096,383 69 % BNO 990,797 9 % 1,396,837 11 % UNG 1,114,147 10 % 1,143,783 9 % USCI 971,363 8 % 466,416 3 % All Others 2,164,286 19 % 1,082,297 8 % Total $ 11,358,411 100 % $ 13,185,716 100 % As of December 31, 2021 As of June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 938,444 53 % $ 1,156,691 57 % BNO 145,083 8 % 196,713 10 % UNG 200,357 11 % 130,543 6 % USCI 157,824 9 % 141,346 7 % All Others 340,326 19 % 412,761 20 % Total $ 1,782,034 100 % $ 2,038,054 100 % Concierge, through Gourmet Foods and following the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 15 one Baking: three 1 2 3 no three December 31, 2021, three December 31, 2020. six December 31, 2021, six December 31, 2020. December 31, 2021 June 30, 2021. second three six December 31, 2021, three six December 31, 2020. December 31, 2021 June 30, 2021, In the gasoline convenience store market customer group, Gourmet Foods supplies two three six December 31, 2021 three six December 31, 2020, No second not December 31, 2021 June 30, 2021, The third no three six December 31, 2021 December 31, 2020, December 31, 2021 June 30, 2021. Printing: one three six December 31, 2021, three six December 31, 2020, December 31, 2021 June 30, 2021, Consolidated: three December 31, 2021 three December 31, 2020. six December 31, 2021, six December 31, 2020. nil%, December 31, 2021 nil%, June 30, 2021. Gourmet Foods, including Printstock, is not one Concierge, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company who provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 49% and 51% of the total Brigadier revenues for the three six December 31, 2021, three six December 31, 2020, December 31, 2021 June 30, 2021. Brigadier purchases alarm panels, digital and analog cameras, mounting hardware and accessory items needed to complete security installations from a variety of sources. The manufacture of electronic items such as those sought by Brigadier has expanded to a global scale thus providing Brigadier with a broad choice of suppliers. Brigadier bases its vendor selection on several criteria including: price, availability, shipping costs, quality, suitability for purpose and the technical support of the manufacturer. Brigadier is not one Concierge, through Original Sprout, has thousands of customers and, from time to time, certain customers become significant during specific reporting periods, but may not three six December 31, 2021 three six December 31, 2020 10% December 31, 2021 June 30, 2021, Concierge, through Original Sprout, is dependent upon its relationship with a product packaging company who, at the direction of Original Sprout, produces the products in accordance with proprietary formulas, packages them in appropriate containers, and delivers the finished goods to Original Sprout for distribution to its customers. All of Original Sprout’s products are currently produced by this packaging company, although if this relationship were to fail there are other similar packaging companies available to Original Sprout at competitive pricing. Because of the nature of the Original Sprout product ingredients, some of the ingredients may, 90 not not not |
Inventory, Policy [Policy Text Block] | Inventories Inventories, consisting primarily of: (i) food products, printing supplies, and packaging in New Zealand; (ii) hair and skin care finished products and components in the U.S.; and, (iii) security system hardware in Canada, are valued at the lower of cost or net realizable value. Inventories in Canada and New Zealand are maintained on the first first six December 31, 2021 December 31, 2020, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are charged to operating expense as incurred; additions and 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) Building 39 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 along with the internal use software in process for the business applications of Marygold to be launched in the coming fiscal year. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not six December 31, 2021 June 30, 2021. |
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 business combination transaction. Goodwill is tested for impairment on an annual basis during the fourth may first not six December 31, 2021 June 30, 2021. |
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 six December 31, 2021 June 30, 2021. |
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) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 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 [Policy Text Block] | Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and printing of food wrappers in New Zealand, security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees earned each month. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of its recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. The Company has no The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Income. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Condensed Consolidated Statements of Income (Loss), which for the three six December 31, 2021, three six December 31, 2020, three six December 31, 2021 three six December 31, 2020, None Because the Company has no no no |
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 Cost [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the three December 31, 2021 December 31, 2020 six December 31, 2021 December 31, 2020 |
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 |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company defines operating segments as components for 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 these segments (Refer to Note 16 |
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 may one may six December 31, 2021 December 31, 2020 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 In August 2020, No. 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 470 20 may December 15, 2023, December 15, 2020, not In November 2021, 2021 10, Government Assistance (Topic 832 December 15, 2021, not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Three Months Ended For the Three Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 2,975,211 52 % $ 4,202,851 68 % BNO 470,879 8 % 638,111 10 % UNG 686,360 12 % 592,230 10 % USCI 495,779 9 % 216,151 4 % All Others 1,073,155 19 % 500,072 8 % Total $ 5,701,384 100 % $ 6,149,415 100 % For the Six Months Ended For the Six Months Ended December 31, 2021 December 31, 2020 Revenue Revenue Fund USO $ 6,117,818 54 % $ 9,096,383 69 % BNO 990,797 9 % 1,396,837 11 % UNG 1,114,147 10 % 1,143,783 9 % USCI 971,363 8 % 466,416 3 % All Others 2,164,286 19 % 1,082,297 8 % Total $ 11,358,411 100 % $ 13,185,716 100 % As of December 31, 2021 As of June 30, 2021 Accounts Receivable Accounts Receivable Fund USO $ 938,444 53 % $ 1,156,691 57 % BNO 145,083 8 % 196,713 10 % UNG 200,357 11 % 130,543 6 % USCI 157,824 9 % 141,346 7 % All Others 340,326 19 % 412,761 20 % Total $ 1,782,034 100 % $ 2,038,054 100 % |
Property, Plant and Equipment, Estimated Useful Life [Table Text Block] | Category Estimated Useful Life (in years) Building 39 Plant and equipment: 5 to 10 Furniture and office equipment 3 to 5 Vehicles 3 to 5 |
Note 3 - Basic and Diluted Ne_2
Note 3 - Basic and Diluted Net Income Per Share (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended December 31, 2021 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 996,012 37,445,919 $ 0.03 Net income available to preferred shareholders 27,323 1,027,240 $ 0.03 Basic and diluted net income per share $ 1,023,335 38,473,159 $ 0.03 For the Three Months Ended December 31, 2020 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 1,314,521 37,412,519 $ 0.04 Net income available to preferred shareholders 37,267 1,060,640 $ 0.04 Basic and diluted net income per share $ 1,351,788 38,473,159 $ 0.04 For the Six Months Ended December 31, 2021 Net Loss Shares Per Share Basic net loss per share: Net loss available to common shareholders $ (835,651 ) 37,485,959 $ (0.02 ) Net loss available to preferred shareholders (22,007 ) 987,200 $ (0.02 ) Basic and diluted net loss per share $ (857,658 ) 38,473,159 $ (0.02 ) For the Six Months Ended December 31, 2020 Net Income Shares Per Share Basic net income per share: Net income available to common shareholders $ 3,571,222 37,412,519 $ 0.10 Net income available to preferred shareholders 98,453 1,060,640 $ 0.09 Basic and diluted net income per share $ 3,571,222 38,473,159 $ 0.09 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, June 30, 2021 2021 Raw materials $ 1,038,700 $ 942,911 Supplies and packing materials 237,991 193,322 Finished goods 867,990 815,559 Total inventories $ 2,144,681 $ 1,951,792 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, June 30, 2021 2021 Plant and equipment(1) $ 2,230,449 $ 2,147,617 Furniture and office equipment 244,536 246,697 Vehicles 393,885 613,891 Land and building 597,574 412,681 Total property, plant and equipment, gross 3,466,444 3,420,886 Accumulated depreciation (2) (1,906,438 ) (1,847,441 ) Total property, plant and equipment, net $ 1,560,006 $ 1,573,445 |
Note 6 - Intangible Assets (Tab
Note 6 - Intangible Assets (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | December 31, June 30, 2021 2021 Customer relationships $ 777,375 $ 777,375 Brand name 1,199,965 1,199,965 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Internally developed software 217,990 217,990 Total 3,728,826 3,728,826 Less : accumulated amortization (1,546,009 ) (1,387,023 ) Net intangibles $ 2,182,817 $ 2,341,803 December 31, June 30, 2021 2021 Customer relationships $ 777,375 777,375 Less: accumulated amortization (413,413 ) (369,471 ) Total customer relationships, net $ 363,962 407,904 December 31, June 30, 2021 2021 Brand name $ 1,199,965 $ 1,199,965 Less: accumulated amortization (229,890 ) (209,620 ) Total brand name, net $ 970,075 $ 990,345 December 31, June 30, 2021 2021 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (36,913 ) Total brand name, net $ - $ - December 31, June 30, 2021 2021 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (627,354 ) (551,737 ) Total recipes and formulas, net $ 594,247 $ 669,864 December 31, June 30, 2021 2021 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (238,439 ) (219,282 ) Total non-compete agreement, net $ 36,543 $ 55,700 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, Expense 2022 $ 156,392 2023 292,261 2024 277,378 2025 262,114 2026 150,345 Thereafter 1,044,327 Total $ 2,182,817 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | As of December 31, 2021 As of June 30, 2021 Prepaid expenses $ 262,955 $ 373,381 Other current assets 179,515 26,143 Total $ 442,470 $ 399,524 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,299,303 $ 5,378 $ - $ 1,304,681 Other short-term investments 270,413 174 - 270,587 Other equities 1,246,926 31,380 - 1,278,306 Total short-term investments $ 2,816,642 $ 36,932 $ - $ 2,853,574 June 30, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,748 $ 5,378 $ - $ 1,050,126 Other short term investments 772,981 4,568 - 777,549 Other equities 1,421 - (170 ) 1,251 Total short-term investments $ 1,819,150 $ 9,946 $ (170 ) $ 1,828,926 |
Note 8 - Goodwill (Tables)
Note 8 - Goodwill (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, June 30, 2021 2021 Goodwill – Original Sprout 416,817 416,817 Goodwill – Gourmet Foods 275,311 275,311 Goodwill – Brigadier 351,345 351,345 Total $ 1,043,473 $ 1,043,473 |
Note 9 - Accounts Payable and_2
Note 9 - Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, June 30, 2021 2021 Accounts payable $ 2,407,685 $ 1,672,647 Accrued interest 141,836 129,596 Taxes payable 324,489 238,020 Accrued payroll, vacation and bonus payable 271,950 1,049,359 Accrued operating expenses 198,898 773,252 Total $ 3,344,858 $ 3,862,874 |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, June 30, 2021 2021 Notes payable to shareholder, interest rate of 8 December 31, 2012 $ 3,500 $ 3,500 Notes payable to shareholder, interest rate of 4 May 25, 2022 250,000 250,000 Notes payable to shareholder, interest rate of 4 April 8, 2022 350,000 350,000 $ 603,500 $ 603,500 |
Note 13 - Business Combinatio_2
Note 13 - Business Combinations (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right of use asset 201,699 Plant, property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Lease Liability, Maturity [Table Text Block] | Year Ended June 30, Operating Lease Finance Lease 2022 $ 374,667 $ 10,747 2023 737,420 21,495 2024 479,871 21,495 2025 180,910 21,495 2026 166,677 21,495 Thereafter 69,449 116,427 Total minimum lease payments 2,008,994 213,154 Less: present value discount (233,971 ) (63,868 ) Total lease liabilities $ 1,775,023 $ 149,286 |
Note 16 - Segment Reporting (Ta
Note 16 - Segment Reporting (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | December 31, June 30, 2021 2021 Identifiable assets: U.S.A. : investment fund management - related party $ 16,386,171 $ 17,467,044 U.S.A. : beauty products 3,870,938 4,024,803 New Zealand: food industry 4,655,674 3,831,539 Canada: security systems 2,513,760 2,671,286 Corporate headquarters - including Marygold 3,449,891 3,513,008 Consolidated total $ 30,876,434 $ 31,507,680 Three Months Ended Three Months Ended December 31, 2021 December 31, 2020 Revenues from external customers: U.S.A. : investment fund management - related party $ 5,701,384 $ 6,149,415 U.S.A. : beauty products 992,852 1,060,225 New Zealand : food industry 2,108,257 2,134,402 Canada : security systems 642,623 617,780 Consolidated total $ 9,445,116 $ 9,961,822 Net (loss) income: U.S.A. : investment fund management - related party $ 1,985,141 $ 2,269,276 U.S.A. : beauty products (12,718 ) (61,234 ) New Zealand : food industry 136,465 239,830 Canada : security systems 62,547 31,610 Corporate headquarters - including Marygold (1,148,100 ) (1,127,694 ) Consolidated total $ 1,023,335 $ 1,351,788 Six Months Ended Six Months Ended December 31, 2021 December 31, 2020 Revenues from external customers: U.S.A. : investment fund management - related party $ 11,358,411 $ 13,185,716 U.S.A. : beauty products 2,013,924 2,032,968 New Zealand : food industry 4,468,402 4,191,974 Canada : security systems 1,333,253 1,297,222 Consolidated total $ 19,173,990 $ 20,707,880 Net (loss) income: U.S.A. : investment fund management - related party $ 1,617,234 $ 5,498,271 U.S.A. : beauty products (8,196 ) 4,038 New Zealand : food industry 289,667 332,128 Canada : security systems 140,954 198,693 Corporate headquarters - including Marygold (2,897,317 ) (2,461,908 ) Consolidated total $ (857,658 ) $ 3,571,222 Three Months Ended Three Months Ended December 31, 2021 December 31, 2020 Capital expenditures: U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 428 27,930 New Zealand: food industry - 4,303 Canada: security systems - (7,677 ) U.S.A. : corporate headquarters - including Marygold - - Consolidated $ 428 $ 24,556 Six Months Ended Six Months Ended December 31, 2021 December 31, 2020 Capital expenditures: U.S.A.: investment fund management $ - $ - U.S.A.: beauty products 948 28,757 New Zealand: food industry (1) 3,040 417,465 Canada: security systems - (14,981 ) U.S.A.: corporate headquarters - including Marygold - 653 Consolidated $ 3,988 $ 431,894 As of December 31, 2021 As of June 30, 2021 Asset Location U.S.A.: investment fund management $ - $ - U.S.A. : beauty products 59,909 58,961 New Zealand: food industry(1) 2,416,722 2,345,569 Canada: security systems 972,069 998,612 U.S.A. : corporate headquarters - including Marygold 17,744 17,744 Total All Locations 3,466,444 3,420,886 Less accumulated depreciation (1,906,438 ) (1,847,441 ) Net property, plant and equipment $ 1,560,006 $ 1,573,445 |
Note 1 - Organization and Des_2
Note 1 - Organization and Description of Business (Details Textual) | Dec. 31, 2021 |
Entity Number of Employees | 114 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2021USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | $ 15,499 | ||
Allowance for Doubtful Accounts Receivable, Related Parties | 0 | 0 | 0 | ||
Inventory Write-down | 3,478 | $ 32,688 | |||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | |||
Goodwill, Impairment Loss | 0 | 0 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | $ 0 | |||
Advertising Expense | 700,000 | $ 700,000 | 1,400,000 | 1,500,000 | |
Security Alarm Monitoring Customer Support Services [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 219,904 | $ 174,656 | $ 407,629 | $ 355,764 | |
Percentage of Total Revenue from Services Under Contract Recognized As Provided | 34.00% | 28.00% | 30.00% | 27.00% | |
Percentage of Consolidated Revenue from Services Under Contract, Recognized As Provided | 2.00% | 2.00% | 2.00% | ||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Number of Major Customers | 3 | 3 | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | |||||
Concentration Risk, Percentage | 32.00% | 34.00% | 32.00% | 33.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 20.00% | 18.00% | 23.00% | 20.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | |||||
Concentration Risk, Percentage | 52.00% | 55.00% | 49.00% | 53.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 36.00% | 32.00% | 38.00% | 34.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 2 [Member] | |||||
Concentration Risk, Percentage | 15.00% | 12.00% | 15.00% | 13.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 6.00% | 10.00% | 8.00% | 10.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 3 [Member] | |||||
Concentration Risk, Percentage | 12.00% | 11.00% | 15.00% | 12.00% | |
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | |||||
Concentration Risk, Percentage | 0.00% | 0.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 4.00% | 19.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | |||||
Concentration Risk, Percentage | 24.00% | 23.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 44.00% | 40.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | |||||
Concentration Risk, Percentage | 25.00% | 7.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 13.00% | 27.00% | |||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 3 [Member] | |||||
Concentration Risk, Percentage | 1.00% | 26.00% | |||
Brigadier [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Concentration Risk, Percentage | 49.00% | 58.00% | 51.00% | 54.00% | |
Brigadier [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Concentration Risk, Percentage | 24.00% | 31.00% | |||
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Number of Major Customers | 0 | 1 | 0 | 1 | |
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customer 1 [Member] | |||||
Concentration Risk, Percentage | 24.00% | 15.00% | |||
The Original Sprout LLC [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Other Customer [Member] | |||||
Concentration Risk, Percentage | 68.00% | 73.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Revenue, related parties | $ 5,701,384 | $ 6,149,415 | $ 11,358,411 | $ 13,185,716 | |
Fund management - related party | 5,701,384 | 6,149,415 | 11,358,411 | 13,185,716 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | |||||
Revenue, related parties | $ 1,782,034 | $ 2,038,054 | |||
Concentration risk percentage | 100.00% | 100.00% | |||
Fund management - related party | $ 1,782,034 | $ 2,038,054 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||||
Revenue, related parties | $ 938,444 | $ 1,156,691 | |||
Concentration risk percentage | 53.00% | 57.00% | |||
Fund management - related party | $ 938,444 | $ 1,156,691 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | |||||
Revenue, related parties | $ 145,083 | $ 196,713 | |||
Concentration risk percentage | 8.00% | 10.00% | |||
Fund management - related party | $ 145,083 | $ 196,713 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||||
Revenue, related parties | $ 200,357 | $ 130,543 | |||
Concentration risk percentage | 11.00% | 6.00% | |||
Fund management - related party | $ 200,357 | $ 130,543 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||||
Revenue, related parties | $ 157,824 | $ 141,346 | |||
Concentration risk percentage | 9.00% | 7.00% | |||
Fund management - related party | $ 157,824 | $ 141,346 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | |||||
Revenue, related parties | $ 340,326 | $ 412,761 | |||
Concentration risk percentage | 19.00% | 20.00% | |||
Fund management - related party | $ 340,326 | $ 412,761 | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | |||||
Revenue, related parties | $ 5,701,384 | $ 6,149,415 | $ 11,358,411 | $ 13,185,716 | |
Concentration risk percentage | 100.00% | 100.00% | 100.00% | 100.00% | |
Fund management - related party | $ 5,701,384 | $ 6,149,415 | $ 11,358,411 | $ 13,185,716 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||||
Revenue, related parties | $ 2,975,211 | $ 4,202,851 | $ 6,117,818 | $ 9,096,383 | |
Concentration risk percentage | 52.00% | 68.00% | 54.00% | 69.00% | |
Fund management - related party | $ 2,975,211 | $ 4,202,851 | $ 6,117,818 | $ 9,096,383 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | |||||
Revenue, related parties | $ 470,879 | $ 638,111 | $ 990,797 | $ 1,396,837 | |
Concentration risk percentage | 8.00% | 10.00% | 9.00% | 11.00% | |
Fund management - related party | $ 470,879 | $ 638,111 | $ 990,797 | $ 1,396,837 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||||
Revenue, related parties | $ 686,360 | $ 592,230 | $ 1,114,147 | $ 1,143,783 | |
Concentration risk percentage | 12.00% | 10.00% | 10.00% | 9.00% | |
Fund management - related party | $ 686,360 | $ 592,230 | $ 1,114,147 | $ 1,143,783 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||||
Revenue, related parties | $ 495,779 | $ 216,151 | $ 971,363 | $ 466,416 | |
Concentration risk percentage | 9.00% | 4.00% | 8.00% | 3.00% | |
Fund management - related party | $ 495,779 | $ 216,151 | $ 971,363 | $ 466,416 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | All Other Customers [Member] | |||||
Revenue, related parties | $ 1,073,155 | $ 500,072 | $ 2,164,286 | $ 1,082,297 | |
Concentration risk percentage | 19.00% | 8.00% | 19.00% | 8.00% | |
Fund management - related party | $ 1,073,155 | $ 500,072 | $ 2,164,286 | $ 1,082,297 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 6 Months Ended |
Dec. 31, 2021 | |
Building [Member] | |
Property, plant, and equipment, useful life (Year) | 39 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Vehicles [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Vehicles [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 3 - Basic and Diluted Ne_3
Note 3 - Basic and Diluted Net Income Per Share (Details Textual) - Reverse Stock Split [Member] - Forecast [Member] | Sep. 30, 2022 |
Minimum [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.5 |
Maximum [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2.75 |
Note 3 - Basic and Diluted Ne_4
Note 3 - Basic and Diluted Net Income Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income available to common shareholders | $ 996,012 | $ 1,314,521 | $ (835,651) | $ 3,571,222 | ||
Net income available to common shareholders (in shares) | 37,445,919 | 37,412,519 | 37,485,959 | 37,412,519 | ||
Net income available to common shareholders (in dollars per share) | $ 0.03 | $ 0.04 | $ (0.02) | $ 0.10 | ||
Net income available to preferred shareholders | $ 27,323 | $ 37,267 | $ (22,007) | $ 98,453 | ||
Net income available to preferred shareholders (in shares) | 1,027,240 | 1,060,640 | 987,200 | 1,060,640 | ||
Net income available to preferred shareholders (in dollars per share) | $ 0.03 | $ 0.04 | $ (0.02) | $ 0.09 | ||
Basic and diluted net income per share | $ 1,023,335 | $ (1,880,993) | $ 1,351,788 | $ 2,219,434 | $ (857,658) | $ 3,571,222 |
Basic and diluted (in shares) | 38,473,159 | 38,473,159 | 38,473,159 | 38,473,159 | ||
Basic and diluted (in dollars per share) | $ 0.03 | $ 0.04 | $ (0.02) | $ 0.09 | ||
Basic and diluted net income per share | $ 1,351,788 | $ (857,658) |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | |
Raw materials | $ 1,038,700 | $ 942,911 | |
Supplies and packing materials | 237,991 | 193,322 | |
Finished goods | 867,990 | 815,559 | |
Total inventories | $ 2,144,681 | $ 1,951,792 | [1] |
[1] | Derived from audited financial statements |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Total | $ 56,514 | $ 92,138 | $ 128,864 | $ 172,030 |
Gourmet Foods [Member] | Solar Energy Lease [Member] | ||||
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 415 | 415 | ||
Gourmet Foods [Member] | Solar Energy Lease [Member] | Property, Plant and Equipment [Member] | ||||
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | $ 150,625 | $ 150,625 |
Note 5 - Property, Plant and _4
Note 5 - Property, Plant and Equipment - Property and Equipment Summary (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | ||
Plant and equipment, gross | $ 3,466,444 | $ 3,420,886 | ||
Accumulated depreciation (2) | [1] | (1,906,438) | (1,847,441) | |
Total property, plant and equipment, net | 1,560,006 | 1,573,445 | [2] | |
Plant and Equipment [Member] | ||||
Plant and equipment, gross | [3] | 2,230,449 | 2,147,617 | |
Furniture and Fixtures [Member] | ||||
Plant and equipment, gross | 244,536 | 246,697 | ||
Vehicles [Member] | ||||
Plant and equipment, gross | 393,885 | 613,891 | ||
Land and Building [Member] | ||||
Plant and equipment, gross | $ 597,574 | $ 412,681 | ||
[1] | Included with accumulated depreciation is the amortization of the underlying assets of the solar energy finance lease at Gourmet Foods, which totaled $415 as of December 31, 2021. | |||
[2] | Derived from audited financial statements | |||
[3] | Included with plant and equipment as of December 31, 2021 are the underlying assets of the solar energy finance lease at Gourmet Foods totaling $150,625. |
Note 6 - Intangible Assets (Det
Note 6 - Intangible Assets (Details Textual) - USD ($) | Jul. 01, 2020 | Dec. 18, 2017 | Jun. 02, 2016 | Aug. 11, 2015 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 |
Finite-Lived Intangible Assets, Gross, Total | $ 3,728,826 | $ 3,728,826 | $ 3,728,826 | ||||||
Amortization of Intangible Assets, Total | 76,677 | $ 85,085 | 158,985 | $ 171,094 | |||||
Customer Relationships [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 777,375 | 777,375 | 777,375 | ||||||
Brand Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,199,965 | 1,199,965 | 1,199,965 | ||||||
Domain Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 36,913 | 36,913 | 36,913 | ||||||
Recipes [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,221,601 | 1,221,601 | 1,221,601 | ||||||
Noncompete Agreements [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 274,982 | 274,982 | 274,982 | ||||||
Marygold Properties [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | $ 217,990 | 217,990 | $ 217,990 | ||||||
Amortization of Intangible Assets, Total | $ 0 | ||||||||
Gourmet Foods Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 66,153 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 61,429 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Gourmet Foods Acquisition [Member] | Recipes [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 434,099 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 340,694 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 15,312 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Noncompete Agreements [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 84,982 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
The Original Sprout LLC [Member] | Customer Relationships [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years | ||||||||
The Original Sprout LLC [Member] | Brand Name [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 740,000 | ||||||||
The Original Sprout LLC [Member] | Recipes [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 1,200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 8 years | ||||||||
The Original Sprout LLC [Member] | Noncompete Agreements [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 190,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Printstock Products Ltd. [Member] | Customer Relationships [Member] | Gourmet Foods [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 77,123 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 9 years | ||||||||
Printstock Products Ltd. [Member] | Brand Name [Member] | Gourmet Foods [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 57,842 |
Note 6 - Intangible Assets - Su
Note 6 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
Finite-lived intangible assets, gross | $ 3,728,826 | $ 3,728,826 |
Less : accumulated amortization | (1,546,009) | (1,387,023) |
Total | 2,182,817 | 2,341,803 |
Finite-Lived Intangible Assets, Gross, Total | 3,728,826 | 3,728,826 |
Domain Name [Member] | ||
Finite-lived intangible assets, gross | 36,913 | 36,913 |
Less : accumulated amortization | (36,913) | (36,913) |
Total | 0 | 0 |
Finite-Lived Intangible Assets, Gross, Total | 36,913 | 36,913 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | 777,375 | 777,375 |
Less : accumulated amortization | (413,413) | (369,471) |
Total | 363,962 | 407,904 |
Finite-Lived Intangible Assets, Gross, Total | 777,375 | 777,375 |
Brand Name [Member] | ||
Finite-lived intangible assets, gross | 1,199,965 | 1,199,965 |
Less : accumulated amortization | (229,890) | (209,620) |
Total | 970,075 | 990,345 |
Finite-Lived Intangible Assets, Gross, Total | 1,199,965 | 1,199,965 |
Recipes [Member] | ||
Finite-lived intangible assets, gross | 1,221,601 | 1,221,601 |
Less : accumulated amortization | (627,354) | (551,737) |
Total | 594,247 | 669,864 |
Finite-Lived Intangible Assets, Gross, Total | 1,221,601 | 1,221,601 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | 274,982 | 274,982 |
Less : accumulated amortization | (238,439) | (219,282) |
Total | 36,543 | 55,700 |
Finite-Lived Intangible Assets, Gross, Total | 274,982 | 274,982 |
Marygold Properties [Member] | ||
Finite-lived intangible assets, gross | 217,990 | 217,990 |
Finite-Lived Intangible Assets, Gross, Total | $ 217,990 | $ 217,990 |
Note 6 - Intangible Assets - Sc
Note 6 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
2022 | $ 156,392 | |
2023 | 292,261 | |
2024 | 277,378 | |
2025 | 262,114 | |
2026 | 150,345 | |
Thereafter | 1,044,327 | |
Total | $ 2,182,817 | $ 2,341,803 |
Note 7 - Other Assets (Details
Note 7 - Other Assets (Details Textual) | 6 Months Ended | |||
Dec. 31, 2021USD ($) | Dec. 31, 2021NZD ($) | Jun. 30, 2021USD ($) | ||
Other Assets, Current | $ 442,470 | $ 399,524 | [1] | |
Marketable Securities, Total | 2,800,000 | 1,800,000 | ||
Restricted Cash and Cash Equivalents, Total | 13,664 | $ 20,000 | 13,989 | |
Other Assets, Noncurrent, Total | 789,880 | 540,160 | [1] | |
Equity Securities without Readily Determinable Fair Value, Amount | $ 500,000 | 500,000 | ||
Equity Securities without Readily Determinable Fair Value, Ownership Percentage | 10.00% | 10.00% | ||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | $ 0 | |||
Deposit Assets, Total | 40,160 | 40,160 | ||
Underwritten Finance Agreement [Member] | ||||
Planned Stock Issuance Incurred Cost | 249,720 | 0 | ||
USCF Gold Strategy Plus Income Fund [Member] | ||||
Equity Method Investments | $ 1,300,000 | $ 0 | ||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | 0.00% | |
[1] | Derived from audited financial statements |
Note 7 - Other Assets - Compone
Note 7 - Other Assets - Components of Other Current Assets (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | |
Prepaid expenses | $ 262,955 | $ 373,381 | |
Other current assets | 179,515 | 26,143 | |
Total | $ 442,470 | $ 399,524 | [1] |
[1] | Derived from audited financial statements |
Note 7 - Other Assets - Investm
Note 7 - Other Assets - Investments (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
Investments, cost | $ 2,816,642 | $ 1,819,150 |
Investments, gross unrealized gains | 36,932 | 9,946 |
Investments, gross unrealized losses | 0 | (170) |
Investments | 2,853,574 | 1,828,926 |
Money Market Funds [Member] | ||
Investments, cost | 1,299,303 | 1,044,748 |
Investments, gross unrealized gains | 5,378 | 5,378 |
Investments, gross unrealized losses | 0 | 0 |
Investments | 1,304,681 | 1,050,126 |
Other Short Term Investments [Member] | ||
Investments, cost | 270,413 | 772,981 |
Investments, gross unrealized gains | 174 | 4,568 |
Investments, gross unrealized losses | 0 | 0 |
Investments | 270,587 | 777,549 |
Other Equities [Member] | ||
Investments, cost | 1,246,926 | 1,421 |
Investments, gross unrealized gains | 31,380 | 0 |
Investments, gross unrealized losses | 0 | (170) |
Investments | $ 1,278,306 | $ 1,251 |
Note 8 - Goodwill (Details Text
Note 8 - Goodwill (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2021 | Jun. 30, 2021 | ||
Goodwill, Ending Balance | $ 1,043,473 | $ 1,043,473 | [1] |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
[1] | Derived from audited financial statements |
Note 8 - Goodwill - Summary of
Note 8 - Goodwill - Summary of Goodwill (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | |
Goodwill | $ 1,043,473 | $ 1,043,473 | [1] |
The Original Sprout LLC [Member] | |||
Goodwill | 416,817 | 416,817 | |
Gourmet Foods [Member] | |||
Goodwill | 275,311 | 275,311 | |
Brigadier [Member] | |||
Goodwill | $ 351,345 | $ 351,345 | |
[1] | Derived from audited financial statements |
Note 9 - Accounts Payable and_3
Note 9 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | |
Accounts payable | $ 2,407,685 | $ 1,672,647 | |
Accrued interest | 141,836 | 129,596 | |
Taxes payable | 324,489 | 238,020 | |
Accrued payroll, vacation and bonus payable | 271,950 | 1,049,359 | |
Accrued operating expenses | 198,898 | 773,252 | |
Total | $ 3,344,858 | $ 3,862,874 | [1] |
[1] | Derived from audited financial statements |
Note 10 - Related Party Trans_3
Note 10 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Interest Expense, Related Party | $ 6,120 | $ 12,240 | $ 6,120 | $ 12,240 | |
Accrued Interest, Related Parties | 141,836 | 141,836 | $ 129,596 | ||
Revenue from Related Parties | 5,701,384 | 6,149,415 | 11,358,411 | 13,185,716 | |
Accounts Receivable, Related Parties | 1,800,000 | 1,800,000 | 2,000,000 | ||
Expense Waiver Funds, Related Party | 100,000 | 100,000 | 600,000 | 200,000 | |
Fund Expense Limitation Amount, Related Party | 100,000 | $ 100,000 | 100,000 | $ 100,000 | |
Waivers Payable, Related Party | $ 100,000 | $ 100,000 | $ 100,000 |
Note 10 - Related Party Trans_4
Note 10 - Related Party Transactions - Notes Payable (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
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 10 - Related Party Trans_5
Note 10 - Related Party Transactions - Notes Payable (Details) (Parentheticals) | 6 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Jun. 30, 2021 | |
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 11 - Loans - Property an_2
Note 11 - Loans - Property and Equipment (Details Textual) | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021CAD ($) | Jun. 30, 2021USD ($) | ||
Notes Payable, Current, Total | $ 35,090 | $ 35,090 | $ 15,094 | [1] | |||
Notes Payable, Noncurrent, Total | 491,390 | 491,390 | 379,804 | [1] | |||
Finance Lease, Liability, Total | 149,286 | 149,286 | $ 0 | ||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | |||||||
Finance Lease, Liability, Current | 20,090 | 20,090 | |||||
Finance Lease, Liability, Noncurrent | 129,196 | 129,196 | |||||
Note Payable on Office Land and Building [Member] | |||||||
Notes Payable, Total | $ 377,193 | ||||||
Notes Payable, Current, Total | 14,999 | 14,999 | |||||
Notes Payable, Noncurrent, Total | 362,194 | 362,194 | |||||
Interest Expense, Debt, Total | $ 4,026 | $ 4,013 | $ 8,014 | $ 7,977 | |||
[1] | Derived from audited financial statements |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - shares | Jan. 15, 2021 | Feb. 07, 2019 | Dec. 31, 2021 | Jun. 30, 2021 | [1] | Jun. 30, 2020 |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 49,360 | 49,360 | ||||
Series B Convertible Preferred Stock [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 20 | |||||
Conversion of Stock, Shares Converted (in shares) | 3,672 | 383,919 | ||||
Conversion of Stock, Shares Issued (in shares) | 73,440 | 7,678,380 | ||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 49,360 | 53,032 | ||||
[1] | Derived from audited financial statements |
Note 13 - Business Combinatio_3
Note 13 - Business Combinations (Details Textual) | Aug. 13, 2021USD ($) | Aug. 13, 2021GBP (£) | Dec. 31, 2020NZD ($) | Jul. 01, 2020NZD ($) | Dec. 31, 2021USD ($) | Oct. 05, 2020USD ($) |
Tiger Financial and Asset Management Limited [Member] | Marygold & Co. (UK) Limited [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 2,100,000 | £ 1,500,000 | ||||
Gourmet Foods [Member] | Printstock Products Ltd. [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 1,900,000 | |||||
Payments to Acquire Businesses, Gross | $ 420,552 | $ 1,500,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | $ 68,061 | $ 68,061 |
Note 13 - Business Combinatio_4
Note 13 - Business Combinations - Acquisition of the Assets of Printstock Products, Ltd (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 | [1] | Oct. 05, 2020 |
Plant, property and equipment | $ 401,681 | |||
Goodwill | 1,043,473 | $ 1,043,473 | ||
Total Purchase Price | 1,234,320 | |||
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | ||||
Cash in bank | 118,774 | |||
Accounts receivable | 384,222 | |||
Prepayments/deposits | 1,372 | |||
Inventories | 509,796 | |||
Operating lease right of use asset | 201,699 | |||
Intangible assets | 134,965 | |||
Goodwill | 127,683 | |||
Deferred tax liability | (68,061) | $ (68,061) | ||
Assumed lease liabilities | (201,699) | |||
Accounts payable and accrued expenses | $ (376,112) | |||
[1] | Derived from audited financial statements |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unrecognized Tax Benefits, Ending Balance | $ 0.3 | $ 0.3 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | $ 0 | ||
Income Tax Expense (Benefit), Total | $ 84,252 | $ 438,398 | $ 322,997 | $ 1,204,120 |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||||
Open Tax Year | 2017 2018 2019 2020 | |||
Foreign Tax Authority [Member] | New Zealand Revenue Agency [Member] | ||||
Open Tax Year | 2017 2018 2019 2020 | |||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2017 2018 2019 2020 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingencies (Details Textual) | Dec. 01, 2021USD ($) | Dec. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021NZD ($) | Jun. 30, 2021USD ($) | |
Operating Lease, Expense | $ 209,172 | $ 161,440 | $ 411,261 | $ 325,942 | |||||
Operating Lease, Right-of-Use Asset | 1,716,883 | 1,716,883 | $ 1,058,199 | [1] | |||||
Lessee, Operating Lease, Deferred Rent | 58,140 | 58,140 | |||||||
Operating Lease, Liability, Total | 1,775,023 | 1,775,023 | |||||||
Finance Lease, Liability, Total | $ 149,286 | $ 149,286 | 0 | ||||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 1 month 6 days | 3 years 1 month 6 days | 3 years 1 month 6 days | ||||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.60% | 5.60% | 5.60% | ||||||
Finance Lease, Weighted Average Remaining Lease Term (Year) | 10 years | 10 years | 10 years | ||||||
Finance Lease, Weighted Average Discount Rate, Percent | 5.80% | 5.80% | 5.80% | ||||||
Restricted Cash and Cash Equivalents, Total | $ 13,664 | $ 13,664 | $ 20,000 | 13,989 | |||||
Expense Waivers | 128,748 | 128,748 | 69,684 | [1] | |||||
Loss Contingency Accrual, Ending Balance | 0 | 0 | $ 0 | ||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 54,000 | $ 48,000 | 88,000 | $ 81,000 | |||||
Misappropriate Amount For Estatime End-customer Accounts Opened Fraudulently [Member] | |||||||||
Loss Contingency, Loss in Period | 250,000 | ||||||||
Primary Service Vendors [Member] | |||||||||
Purchase Obligation, Total | 357,000 | 357,000 | |||||||
Purchase Obligation, to be Paid, Year Two | 70,000 | 70,000 | |||||||
UNL [Member] | |||||||||
Expense Waivers | $ 100,000 | ||||||||
General Security Lease Agreement [Member] | |||||||||
Operating Lease Arrangement, Collateral Amount | 75,146 | 75,146 | 110,000 | ||||||
Lease of Separate Facilities [Member] | |||||||||
Restricted Cash and Cash Equivalents, Total | $ 13,664 | $ 13,664 | $ 20,000 | ||||||
Wainwright [Member] | Lease for Office Space in Walnut Creek, California [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | 3 years | 3 years | ||||||
Operating Lease, Monthly Rent | $ 13,063 | ||||||||
Gourmet Foods [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | |||||||||
Operating Lease, Monthly Rent | $ 23,533 | ||||||||
Gourmet Foods [Member] | Leases Office and Storage Facilities in Regina, Saskatchewan [Member] | |||||||||
Finance Lease, Monthly Rent | $ 1,558 | 1,558 | |||||||
Finance Lease, Minimum Lease Obligation, Monthly Payments | $ 2,588 | $ 2,588 | |||||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | |||||||||
Lessee, Finance Lease, Term of Contract (Year) | 10 years | 10 years | 10 years | ||||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | Depreciation Expense [Member] | |||||||||
Finance Lease, Right-of-Use Asset, Amortization | $ 415 | $ 415 | |||||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | Interest Expense [Member] | |||||||||
Finance Lease, Interest Expense | 39 | 39 | |||||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | Property, Plant and Equipment [Member] | |||||||||
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | 150,625 | 150,625 | |||||||
Gourmet Foods [Member] | Solar Energy Lease [Member] | Long-term and Short-term Loans-Property and Equipment, Net of Principal Payments [Member] | |||||||||
Finance Lease, Liability, Total | $ 149,286 | $ 149,286 | |||||||
The Original Sprout LLC [Member] | Office and Warehouse Space in San Clemente, CA [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | ||||||||
Operating Lease, Monthly Rent | $ 22,750 | ||||||||
USCF [Member] | |||||||||
Defined Contribution Plan, Minimum Age Requirement for Participation (Year) | 21 years | ||||||||
Defined Contribution Plan, Requirement, Minimum Hours of Service | 1,000 | ||||||||
[1] | Derived from audited financial statements |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingencies - Future Minimum Consolidated Lease Payments (Details) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
2022, operating lease | $ 374,667 | |
2022, finance lease | 10,747 | |
2023, operating lease | 737,420 | |
2023, finance lease | 21,495 | |
2024, operating lease | 479,871 | |
2024, finance lease | 21,495 | |
2025, operating lease | 180,910 | |
2025, finance lease | 21,495 | |
2026, operating lease | 166,677 | |
2026, finance lease | 21,495 | |
Thereafter, operating lease | 69,449 | |
Thereafter, finance lease | 116,427 | |
Total minimum lease payments, operating lease | 2,008,994 | |
Total minimum lease payments, finance lease | 213,154 | |
Less: present value discount, operating lease | (233,971) | |
Less: present value discount, finance lease | (63,868) | |
Operating Lease, Liability, Total | 1,775,023 | |
Finance Lease, Liability, Total | $ 149,286 | $ 0 |
Note 16 - Segment Reporting (De
Note 16 - Segment Reporting (Details Textual) | Jul. 01, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Number of Reportable Segments | 4 | ||||
Payments to Acquire Machinery and Equipment | $ 428 | $ 24,556 | $ 3,988 | $ 431,894 | |
Gourmet Foods [Member] | Property, Plant and Equipment [Member] | Solar Energy Lease [Member] | |||||
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | $ 150,625 | $ 150,625 | |||
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | |||||
Payments to Acquire Machinery and Equipment | $ 401,681 |
Note 16 - Segment Reporting - R
Note 16 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |||
Identifiable assets | $ 30,876,434 | $ 30,876,434 | $ 31,507,680 | [1] | |||||
Net (loss) income | 1,023,335 | $ (1,880,993) | $ 1,351,788 | $ 2,219,434 | (857,658) | $ 3,571,222 | |||
Capital expenditures | 428 | 24,556 | 3,988 | 431,894 | |||||
Property, plant, and equipment | 3,466,444 | 3,466,444 | 3,420,886 | ||||||
Less accumulated depreciation | [2] | (1,906,438) | (1,906,438) | (1,847,441) | |||||
Total property, plant and equipment, net | 1,560,006 | 1,560,006 | 1,573,445 | [1] | |||||
Operating Segments [Member] | |||||||||
Revenue from Contract with Customer, Including Assessed Tax | 9,445,116 | 9,961,822 | 19,173,990 | 20,707,880 | |||||
Net (loss) income | 1,023,335 | 1,351,788 | (857,658) | 3,571,222 | |||||
U.S.A Investment Fund Management [Member] | |||||||||
Identifiable assets | 16,386,171 | 16,386,171 | 17,467,044 | ||||||
Capital expenditures | 0 | 0 | 0 | 0 | |||||
Property, plant, and equipment | 0 | 0 | 0 | ||||||
U.S.A Investment Fund Management [Member] | Operating Segments [Member] | |||||||||
Revenue from Contract with Customer, Including Assessed Tax | 5,701,384 | 6,149,415 | 11,358,411 | 13,185,716 | |||||
Net (loss) income | 1,985,141 | 2,269,276 | 1,617,234 | 5,498,271 | |||||
USA Beauty Products and Other [Member] | |||||||||
Identifiable assets | 3,870,938 | 3,870,938 | 4,024,803 | ||||||
Capital expenditures | 428 | 27,930 | 948 | 28,757 | |||||
Property, plant, and equipment | 59,909 | 59,909 | 58,961 | ||||||
USA Beauty Products and Other [Member] | Operating Segments [Member] | |||||||||
Revenue from Contract with Customer, Including Assessed Tax | 992,852 | 1,060,225 | 2,013,924 | 2,032,968 | |||||
Net (loss) income | (12,718) | (61,234) | (8,196) | 4,038 | |||||
New Zealand Food Industry Segment [Member] | |||||||||
Identifiable assets | 4,655,674 | 4,655,674 | 3,831,539 | ||||||
Capital expenditures | [3] | 0 | 4,303 | 3,040 | 417,465 | ||||
Property, plant, and equipment | [4] | 2,416,722 | 2,416,722 | 2,345,569 | |||||
New Zealand Food Industry Segment [Member] | Operating Segments [Member] | |||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,108,257 | 2,134,402 | 4,468,402 | 4,191,974 | |||||
Net (loss) income | 136,465 | 239,830 | 289,667 | 332,128 | |||||
Canada Security Alarm [Member] | |||||||||
Identifiable assets | 2,513,760 | 2,513,760 | 2,671,286 | ||||||
Capital expenditures | 0 | (7,677) | 0 | (14,981) | |||||
Property, plant, and equipment | 972,069 | 972,069 | 998,612 | ||||||
Canada Security Alarm [Member] | Operating Segments [Member] | |||||||||
Revenue from Contract with Customer, Including Assessed Tax | 642,623 | 617,780 | 1,333,253 | 1,297,222 | |||||
Net (loss) income | 62,547 | 31,610 | 140,954 | 198,693 | |||||
Corporate Segment [Member] | |||||||||
Identifiable assets | 3,449,891 | 3,449,891 | 3,513,008 | ||||||
Capital expenditures | 0 | 0 | 0 | 653 | |||||
Property, plant, and equipment | 17,744 | 17,744 | $ 17,744 | ||||||
Corporate Segment [Member] | Operating Segments [Member] | |||||||||
Net (loss) income | $ (1,148,100) | $ (1,127,694) | $ (2,897,317) | $ (2,461,908) | |||||
[1] | Derived from audited financial statements | ||||||||
[2] | Included with accumulated depreciation is the amortization of the underlying assets of the solar energy finance lease at Gourmet Foods, which totaled $415 as of December 31, 2021. | ||||||||
[3] | Includes $401,681 related to the acquisition of Printstock in July 2020. See Note 15, Business Combinations | ||||||||
[4] | Includes the underlying assets of the solar energy system finance lease totaling $150,625 at Gourmet Foods. |