Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Oct. 13, 2017 | Dec. 31, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | CONCIERGE TECHNOLOGIES INC | ||
Entity Central Index Key | 1,005,101 | ||
Trading Symbol | cncg | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 886,753,847 | ||
Entity Public Float | $ 10,867,219 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 6,730,486 | $ 5,454,107 |
Accounts receivable, net | 871,570 | 839,220 |
Accounts receivable, related parties | 1,762,271 | 2,124,104 |
Inventory, net | 444,274 | 436,541 |
Prepaid income tax and tax receivable | 1,276,540 | 354,308 |
Investments | 3,578,749 | 993 |
Other current assets | 369,599 | 242,584 |
Total current assets | 15,033,489 | 9,451,857 |
Restricted cash | 14,870 | 0 |
Property and equipment, net | 1,159,465 | 1,166,693 |
Goodwill | 498,973 | 498,973 |
Intangible assets, net | 899,276 | 1,018,213 |
Deferred tax assets, net | 1,480,272 | 1,179,472 |
Long - term assets | 509,538 | 509,538 |
Total assets | 19,595,883 | 13,824,746 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 2,842,855 | 2,396,817 |
Expense waivers | 589,093 | 448,930 |
Purchase consideration payable | 214,035 | |
Notes payable - related parties | 3,500 | 8,500 |
Equipment loans | 17,388 | 0 |
Convertible promissory notes payable - related parties, net | 600,000 | |
Total current liabilities | 3,452,836 | 3,676,782 |
LONG TERM LIABILITIES | ||
Notes payable - related parties | 600,000 | |
Equipment loans | 72,605 | 0 |
Deferred tax liabilities | 258,601 | 272,095 |
Total liabilities | 4,384,042 | 3,948,877 |
Commitments and contingencies | ||
Convertible, Preferred stock, 50,000,000 authorized par $0.001 Series B convertible preferred stock: 13,108,474 issued and outstanding at June 30, 2017 and June 30, 2016 | 2,011,934 | 2,011,934 |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.001 par value; 900,000,000 shares authorized; 886,753,847 shares issued and outstanding at June 30, 2017 and June 30, 2016 | 886,754 | 886,754 |
Additional paid-in capital | 6,317,440 | 6,317,440 |
Accumulated other comprehensive income (loss) | 119,338 | (30,303) |
Retained earnings (accumulated deficit) | 5,876,375 | 690,044 |
Total stockholders' equity | 13,199,907 | 7,863,935 |
Total liabilities and stockholders' equity | 19,595,883 | 13,824,746 |
Series B Convertible Preferred Stock [Member] | ||
LONG TERM LIABILITIES | ||
Convertible, Preferred stock, 50,000,000 authorized par $0.001 Series B convertible preferred stock: 13,108,474 issued and outstanding at June 30, 2017 and June 30, 2016 | $ 2,011,934 | $ 2,011,934 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2017 | Jun. 30, 2016 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 900,000,000 | 900,000,000 |
Common stock, issued (in shares) | 886,753,847 | 886,753,847 |
Common stock, outstanding (in shares) | 886,753,847 | 886,753,847 |
Series B Convertible Preferred Stock [Member] | ||
Convertible preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Convertible preferred stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Convertible preferred stock, issued (in shares) | 13,108,474 | 13,108,474 |
Convertible preferred stock, outstanding (in shares) | 13,108,474 | 13,108,474 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net revenue | ||
Fund management - related party | $ 23,926,065 | $ 23,551,395 |
Food products | 4,791,996 | 3,756,402 |
Security alarm monitoring | 3,136,733 | 348,553 |
Other | 156,327 | 120,430 |
Net revenue | 32,011,121 | 27,776,780 |
Cost of revenue | 4,848,141 | 2,746,132 |
Gross profit | 27,162,980 | 25,030,648 |
Operating expense | ||
General and administrative expense | 5,627,235 | 4,090,168 |
Fund operations | 5,431,408 | 4,624,879 |
Marketing | 3,434,228 | 2,926,950 |
Depreciation and amortization | 418,840 | 229,469 |
Salaries and compensation | 5,519,079 | 4,249,216 |
Impairment of inventory value | 2,090 | 48,330 |
Total operating expenses | 20,432,880 | 16,169,012 |
Income from operations | 6,730,100 | 8,861,636 |
Other income (expense) | ||
Other income | 64,039 | 1,204 |
Interest income | 3,177 | 1,713 |
Interest expense | (21,582) | (8,686) |
Total other income (expense) | 45,634 | (5,769) |
Income before income taxes | 6,775,734 | 8,855,867 |
Provision of income taxes | 1,589,403 | 3,580,632 |
Net income | $ 5,186,331 | $ 5,275,235 |
Weighted - average shares of common stock | ||
Basic (in shares) | 886,753,847 | 886,753,847 |
Diluted (in shares) | 1,148,923,324 | 1,148,923,324 |
Net income per common share | ||
Basic (in dollars per share) | $ 0.01 | $ 0.01 |
Diluted (in dollars per share) | $ 0 | $ 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 5,186,331 | $ 5,275,235 |
Other comprehensive income (loss) | ||
Foreign currency translation gain (loss) | 113,444 | (30,303) |
Changes in short - term investment valuation | 36,197 | |
Comprehensive income | $ 5,335,972 | $ 5,244,932 |
Consolidated Statements of Conv
Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) | Preferred Stock [Member]Series B 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, 2015 | 3,754,355 | 67,953,871 | 8,325,620 | ||||
Balance at Jun. 30, 2015 | $ 3,754 | [1] | $ 67,954 | $ (6,349,570) | $ 2,044,004 | ||
Shares issued in acquistion to Wainwright shareholders (in shares) | 9,354,119 | 818,799,976 | (2,008,180) | ||||
Shares issued in acquistion to Wainwright shareholders | $ 2,008,180 | [1] | $ 818,800 | 1,764,379 | 574,999 | ||
Loss on currency translation for the year ended June 30, 2016 | [1] | (30,303) | (30,303) | ||||
Net income (loss) | [1] | 5,275,235 | 5,275,235 | ||||
Balance (in shares) at Jun. 30, 2016 | 13,108,474 | 886,753,847 | 6,317,440 | ||||
Additional other comprehensive income | |||||||
Balance at Jun. 30, 2016 | $ 2,011,934 | [1] | $ 886,754 | (30,303) | 690,044 | 7,863,935 | |
Loss on currency translation for the year ended June 30, 2016 | [1] | 113,444 | 113,444 | ||||
Net income (loss) | [1] | 5,186,331 | 5,186,331 | ||||
Balance (in shares) at Jun. 30, 2017 | 13,108,474 | 886,753,847 | 6,317,440 | ||||
Additional other comprehensive income | [1] | 36,197 | 36,197 | ||||
Balance at Jun. 30, 2017 | $ 2,011,934 | [1] | $ 886,754 | $ 119,338 | $ 5,876,375 | $ 13,199,907 | |
[1] | Upon issuance of the preferred shares in the Wainwright acquisition, the Company no longer had sufficient authorized, unissued, common stock to allow for Series B conversion. Accordingly, the Series B was reclassified to the mezzanine section. Other equity accounts have been adjusted to reflect the historical cost basis of Wainwright. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net income | $ 5,186,331 | $ 5,275,235 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 418,840 | 229,469 |
Realized (gain) on sale of investments | (2,399) | (526) |
Realized loss (gain) on disposal of equipment | (4,341) | |
(Increase) decrease in current assets: | ||
Accounts receivable | (24,890) | (32,863) |
Accounts receivable - related party | 361,834 | (382,959) |
Notes receivable | (150,000) | |
Deferred taxes | (314,294) | 329,279 |
Prepaid income taxes | (918,230) | 414,212 |
Inventory | (2,109) | 154,723 |
Other assets | (101,725) | (38,959) |
Increase (decrease) in current liabilities: | ||
Accounts payable and accrued expenses | 449,756 | (538,342) |
Expense waivers payable - related party | 140,163 | 48,930 |
Conversion of loan to other income | (8,500) | |
Net cash provided by operating activities | 5,180,436 | 5,308,199 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash paid for acquisition of subsidiary net of subsidiary cash acquired | (214,035) | (2,766,205) |
Purchase of equipment | (259,017) | (103,662) |
Sale of investments | 227,632 | |
Purchase of investments | (3,766,111) | |
Net cash (used in) investing activities | (4,011,531) | (2,869,867) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Equipment loan | 88,383 | |
Loans from related parties | (5,000) | 600,000 |
Wainwright Holdings, Inc. stock repurchase and dividends | (847,264) | |
Net cash provided by (used in) financing activities | 83,383 | (247,264) |
Effect of exchange rate change on cash and cash equivalents | 24,090 | (90,235) |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 1,276,378 | 2,100,833 |
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE | 5,454,107 | 3,353,274 |
CASH AND CASH EQUIVALENTS, ENDING BALANCE | 6,730,486 | 5,454,107 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 5,000 | |
Income taxes paid, U.S. | $ 2,475,800 | $ 3,935,000 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 12 Months Ended |
Jun. 30, 2017 | |
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, is the parent company to wholly-owned subsidiaries engaged in various business activities. The most significant business of Concierge is Wainwright Holdings, Inc. a Delaware corporation (“Wainwright”). Wainwright is a holding company for two $4.1 June 30, 2017. two 2000 Concierge manages its operating businesses on a decentralized basis. There are no ’s management in the day-to-day business affairs of its operating subsidiary businesses. Concierge’s corporate management is responsible for capital allocation decisions, investment activities and selection and retention of the Chief Executive to head each of the operating subsidiaries. Concierge's corporate management is also responsible for corporate governance practices, monitoring regulatory affairs, including those of its operating businesses and involvement in governance-related issues of its subsidiaries as needed. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Principles of Consolidation The accompanying consolidated financial statements, which are referred herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Kahnalytics. Wainwright was acquired during the current fiscal year . Due to the commonality of ownership and control between the two 12 The accompanying Financial Statements as of June 30, 2017 June 30, 2016 , or July 1, 2015. All significant inter-company transactions and accounts have been eliminated in consolidation. Use of Estimates The preparation of the Financial Statements are in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the consolidated statement of cash flows, cash equivalents include all highly liquid debt instruments with original maturities of three not Concentrations of Risk Concierge ’s corporate office maintains cash balances at a financial institution headquartered in San Diego, California. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 $1.6 June 30, 2017. $250,000. June 30, 2017 $3.6 no none CD$100,000 CD$0.5 US$0.4 June 30, 2017. not June 30, 2017, NZ$0.7 US$0.5 not Accounts Receivable, Related Parties and Accounts Receivable, net Accounts receivable primarily consists of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of June 30, 2017 2016, nsignificant amount recorded in doubtful accounts. Major Customers and Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is dependent upon its contractual relationship with the alarm monitoring company who purchases the monitoring contracts and provides monitoring services to Brigadier ’s customers. Sales to the two 46% June 30, 2017, 40% June 30, 2017. no not June 2016. Concierge, through Gourmet Foods, has three 1 2 3 June 30, 2017, 18% 41% 14% 34% 11 months ended June 30, 2016. second 11% 10% 11% 12% 11 months ended June 30, 2017 2016 two June 30, 2017 43% 44% 11 -month period ended June 30, 2016. No second 10% no third no one not one For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated 12 June 30, 2017 June 30, 2016 12 months ended June 30, 2017 June 30, 2017 Revenue Accounts Receivable Fund USO $ 13,761,317 58 % $ 1,060,421 60 % USCI 4,865,171 20 % 317,032 18 % UNG 3,118,432 13 % 217,760 12 % All Others 2,181,145 9 % 167,058 10 % Total $ 23,926,065 100 % $ 1,762,271 100 % 12 months ended June 30, 2016 June 30, 2016 Revenue Accounts Receivable Fund USO $ 14,020,971 59 % $ 1,245,396 59 % USCI 4,244,613 18 % 400,258 19 % UNG 3,242,502 14 % 280,431 13 % All Others 2,043,309 9 % 198,020 9 % Total $ 23,551,395 100 % $ 2,124,105 100 % Reclassifications For comparative purposes, prior year ’s Financial Statements have been reclassified to conform to report classifications of the current year after giving consideration to the acquisition of Wainwright Holdings, Inc. as a pooling of interests under common control. Inventory Inventories, consisting primarily of food products and packaging in New Zealand and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or market. Inventories include product cost, inbound freight and warehousing costs. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventories to their market value, if lower. For the years ended June 30, 2017 June 30, 2016 $2,090 $48,330, June 30, 2017 June 30, 2016, $18,589 $0, Property and Equipment Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and leasehold improvements are capitalized. Office furniture and equipment include office fixtures, computers, printers and other office equipment plus software and applicable packaging designs. Leasehold improvements, which are included in plant and equipment, are depreciated over the shorter of the useful life of the improvement and the length of the lease. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight line method over the estimated useful life of the asset (see Note 5 Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase businesses combination. Goodwill is tested for impairment on an annual basis during the fourth may two first two not two no June 30, 2017 2016. Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no s ended June 30, 2017 2016. Investments and Fair Value of Financial Instruments Short-term investments are classified as available-for-sale securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses). The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 – Fair Value Measurements and Disclosures (“ASC 820” 820 820 820 1 2 three 820 Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level 2 not Level 3 – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. The following table summarizes the valuation of the Company ’s securities at June 30, 2017 At June 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 86,204 $ 86,204 $ - $ - Mutual fund investment 2,450,920 2,450,920 - - ETF investment 809,900 809,900 - - Hedge asset 230,746 - 230,746 - Other e quities 979 979 - - Total $ 3,578,749 $ 3,348,003 $ 230,746 $ - During the year ended June 30, 2017, no The following table summarizes the valuation of the Company ’s securities at June 30, 2016 At June 30, 2016 Total Level 1 Level 2 Level 3 Money market funds $ 96 $ 96 $ - $ - Other e quities 897 897 - - Total $ 993 $ 993 $ - $ - During the year ended June 30, 2016, no Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and monitoring service in Canada, and subscriptions to gathering of live-streaming video recording data displayed online to users. Revenue is accounted for net of sales taxes, sales returns, trade discounts. Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, the delivery has occurred, no Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the years ended June 30, 2017 2016 3.4 $2.9 Other Comprehensive Income (Loss) and Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation. The accounts of Gourmet Foods, Ltd. use the New Zealand dollar as the functional currency. The accounts of Brigadier Security System use the Canadian dollar as the functional currency. Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange rate throughout the period. Accumulated translation gains and losses classified as an item of accumulated other comprehensive income (loss) in the stockholders’ equity section of the consolidated balance sheet was approximately $113 $30 June 30, 2017 2016, $36 $0 June 30, 2017 2016, June 30, 2017 June 30, 2016 no Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries ( 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 ’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may one may June 30, 2017 2016 no Reclassifications Certain 2016 2017 in consideration of the pooling of interests with Wainwright during the current fiscal year. Recent Accounting Pronouncements In September 2015, No. 2015 16, "Business Combinations (Topic 805 No. 2015 06 December 15, 2015 In November 2015, 2015 17, 2015 17 December 15, 2016, 2015 17 not ’s results of operations, financial position or disclosures. In January 2016, 2016 01, 2016 01 not 2016 01 December 15, 2017. not ’s results of operations, financial position or disclosures. In February 2016, No. 2016 02, not December 15, 2018 In March 2016, 2016 07, 2016 07” 2016 07 2016 07 December 15, 2016, In March 2016, 2016 09, December 15, 2016 may On November 17, 2016, 2016 18, 230 no 2016 18 December 15, 2017 2016 18 not ’s consolidated financial statements. In January 2017, No. 2017 01, December 15, 2017, not not In January 2017, No. 2017 04, ’s carrying value exceeds its fair value, not December 15, 2019, January 1, 2017. No ’s consolidated financial statements. |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Loss Per Share | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3. BASIC AND DILUTED NET LOSS PER SHARE Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Diluted net income per share 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 year ended June 30, 2017 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 5,186,331 886,753,847 $ 0.01 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 5,186,331 1,148,923,324 $ 0.00 For the year ended June 30, 2016 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 5,275,235 886,753,847 $ 0.01 Effect of dilutive securities Preferred stock Series B 262,169,477 0.00 Diluted income per share $ 5,275,235 1,148,923,324 $ 0.00 |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. INVENTORIES Inventories consisted of the following: June 30, June 30, 2017 2016 Raw materials $ 43,088 $ 50,023 Supplies and packing materials 125,241 77,497 Finished goods 278,035 357,351 446,364 484,871 Less : Impairment of finished goods (2,090 ) (48,330 ) Total $ 444,274 $ 436,541 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5. PROPERTY AND EQUIPMENT Property, plant and equipment consisted of the following as of June 30, 2017 2016: June 30, 2017 June 30, 2016 Plant and equipment $ 1,460,180 $ 1,477,411 Furniture and office equipment 162,781 119,123 Vehicles 185,866 58,850 Total property and equipment, gross 1,808,827 1,655,384 Accumulated depreciation (649,362 ) (488,691 ) Total property and equipment, net $ 1,159,465 $ 1,166,693 For the years ended June 30, 2017 2016, for property, plant and equipment totaled $299,903 $229,469, |
Note 6 - Intangible Assets
Note 6 - Intangible Assets | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. INTANGIBLE ASSETS Intangible assets consisted of the following: June 30, June 30, 2017 2016 Brand name $ 402,123 $ 402,123 Domain name 36,913 36,913 Customer relationships 500,252 500,252 Non-compete agreement 84,982 84,982 Recipes 21,601 21,601 Total 1,045,871 1,045,871 Less : accumulated amortization (146,595 ) (27,658 ) Net intangibles $ 899,276 $ 1,018,213 CUSTOMER RELATIONSHIP On August 11, 20 15, $66,153 10 June 2, 2016, $434,099 10 June 30, June 30, 2017 2016 Customer relationships $ 500,252 500,252 Less: accumulated amortization (59,684 ) (9,659 ) Total customer relationships, net $ 440,568 490,593 BRAND NAME On August 11, 20 15, $61,429 10 June 2, 2016, $340,694 10 June 30, June 30, 2017 2016 Brand name $ 402,123 $ 402,123 Less: accumulated amortization (48,660 ) (8,448 ) Total brand name, net $ 353,463 $ 393,675 DOMAIN NAME On August 11, 20 15, $21,601 5 June 2, 2016, $15,312 5 June 30, June 30, 2017 2016 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (11,576 ) (4,193 ) Total brand name, net $ 25,337 $ 32,720 RECIPES On August 11, 20 15, $21,601 5 June 30, June 30, 2017 2016 Recipes $ 21,601 $ 21,601 Less: accumulated amortization (8,257 ) (3,937 ) Total recipes, net $ 13,344 $ 17,664 NON-COMPETE AGREEMENT On June 2, 2016, 84,982 5 June 30, June 30, 2017 2016 Non-compete agreement $ 84,982 $ 84,982 Less: accumulated amortization (18,418 ) (1,421 ) Total non-compete agreement, net $ 66,564 $ 83,561 AMORTIZATION EXPENSE The total amortization expense for intangible assets for the years ended June 30, 2017 June 30, 2016 $118,937 $27,658, Estimated amortization expenses of intangible assets for the next five twelve June 30, Years Ending June 30, Expense 2018 $ 118,937 2019 118,937 2020 118,937 2021 109,385 2022 90,237 Thereafter 342,843 Total $ 899,276 |
Note 7 - Other Assets
Note 7 - Other Assets | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7. OTHER ASSETS Other current assets totaling $ 369,599 June 30, 2017 $242,584 June 30, 2016 As of June 30, As of June 30, 2017 2016 As Adjusted Deposits $ 183,634 $ - Pre paid expenses 28,667 87,071 Dividends receivable 7,298 5,513 Notes receivable 150,000 150,000 Total $ 369,599 $ 242,584 Investments Wainwright, from time to time, provides initial investments in the creation of ET P funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one no June 30, 2017 June 30, 2016, $3.6 $1 no June 30, 2017 June 30, 2016, no Investments measured at estimated fair value consist of the following as of June 30, 2017 June 30, 2016: June 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Loses Estimated Fair Value Money market funds $ 86,204 $ - $ - $ 86,204 USCI mutual fund investment 2,500,000 - (49,080 ) 2,450,920 MENU ETF investment 768,427 41,473 - 809,900 Hedge d asset 187,000 43,746 - 230,746 Other equities 1,577 - (598 ) 979 Total short-term investments $ 3,543,208 $ 85,219 $ (49,678 ) 3,578,749 June 30, 2016 Cost Gross Unrealized Gains Gross Unrealized Loses Estimated Fair Value Money market funds $ 96 $ - $ - $ 96 Other equities 1,577 - (680 ) 897 Total short - term investments $ 1,673 $ - $ (680 ) $ 993 Restricted Cash At June 30, 2017, approximately NZ$20,000 US$15,000 one no June 30, 2016, Long - Term Assets Long - term assets totaling $ 500,000 June 30, 2017 June 30, 2016 $509,980 10% $980 $8,558 |
Note 8 - Goodwill
Note 8 - Goodwill | 12 Months Ended |
Jun. 30, 2017 | |
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. For the fiscal year ended June 30, 2016, $279,717. As of June 30, 2017 As of June 30, 2016 Goodwill – Gourmet Foods 147,628 147,628 Goodwill - Brigadier 351,345 351,345 Total $ 498,973 $ 498,973 The Company tests for goodwill impairment at each reporting unit. There was no June 30, 2017. |
Note 9 - Accounts Payable and A
Note 9 - Accounts Payable and Accrued Expenses | 12 Months Ended |
Jun. 30, 2017 | |
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: June 30, 2017 June 30, 2016 As Adjusted Accounts payable $ 1,781,772 $ 1,044,826 Accrued interest 32,410 5,337 Taxes payable 123 769,224 Deferred rent 13,402 19,203 Accrued payroll and vacation pay 349,507 127,271 Accrued expenses 665,641 430,956 Total $ 2,842,855 $ 2,396,817 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10. Notes Payable - Related Parties Current related party notes payable consist of the following: June 30, 2017 June 30, 2016 Notes payable to shareholder, interest rate of 10%, unsecured and payable on July 31, 2004 (past due) $ - $ 5,000 Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due) 3,500 3,500 Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022 250,000 - Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022 350,000 - $ 603,500 $ 8,500 On July 7, 2016, $5,000 $5,000 $2,075 Interest expense for all related party notes for the years ended June 30, 2017 2016 $18,999 $3,151, Promissory Note Payable – Related Parties On April 8, 2016 and May 25, 2016, $350,000 $250,000, four 4% nineteen 19% 0.01% 1.75% 4% no In connection with the acquisition of Wainwright on December 9, 2016 Interest expense for all related party convertible debentures for the years ended June 30, 2017 2016 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 $23.9 $23.6 June 30, 2017 2016, $1.8 $2.1 June 30, 2017 June 30, 2016, $0.8 $0.8 $0.4 $0.3 June 30, 2017 2016, $0.6 $0.5 June 30, 2017 June 30, 2016, 16 |
Note 11 - Equipment Loans
Note 11 - Equipment Loans | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 11. EQUIPMENT LOANS As of June 30, 2017, CD$116,658 US$89,993 60 June 30, 2017 June 30, 2016 twelve US$17,388 $0, twelve US$72,605 $0 June 30, 2017 2016 June 30, 2017 US$1,656 $0 June 30, 2016. |
Note 12 - Business Combination
Note 12 - Business Combination | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 12. BUSINESS COMBINATION Gourmet Foods, Ltd. On May 28, 2015, July 28, 2015 July 31, 2015 NZ$2,597,535 US$1,753,428 On August 11, 2015, July 31, 2015, August 1, 2015. The following table summarizes the value of the net assets acquired as of the Acquisition Date: Cash $ 50,695 Accounts receivable 259,662 Prepaid expenses 11,246 Inventory 256,271 Property and equipment 1,207,762 Intangible assets 170,784 Goodwill 145,467 Total assets $ 2,101,887 Accounts payable $ 253,951 Deferred tax liability 47,820 Employee entitlements 46,688 Total liabilities $ 348,459 Consideration Paid for Net Assets $ 1,753,428 Brigadier Security Systems ( 2000 On June 2, 2016, CD$2,010,266 US$1,540,830 CD$1,000,000 US$756,859 CD$733,000 US$569,935 183rd CD$1,500,000 November 23, 2016. CD$277,266 US$214,035 October 2016. Assets Cash $ 80,391 Accounts receivable 431,656 Inventory 238,148 Prepaid expenses and other assets 20,001 Property, plant and equipment 20,455 Intangible assets 875,087 Goodwill 353,507 Total Assets $ 2,019,246 Liabilities Accounts payable $ 187,925 Income tax payable 55,953 Deferred tax liability 231,898 Customer deposits 2,640 Total Liabilities $ 478,416 Consideration paid for net assets $ 1,540,830 Wainwright Holdings, Inc. On December 9, 2016, 1,741 $0.01 818,799,976 9,354,119 187,082,377 50% 50% common control in the accompanying financial statements. Further, the accompanying financial statements have been adjusted to include the carrying value of assets, liabilities, equity and operations of Wainwright as if the transaction had concluded on July 1, 2015. no |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 13. Reverse Stock Split On November 11, 2015, ’) of the Company approved the implementation of a one ten 1:10 December 15, 2015. February 26, 2015. 2015. not Convertible Preferred Stock Series B Voting, Convertible Preferred Stock is convertible into 20 20 270 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14. INCOME TAXES The following table summarizes income before income taxes: Years Ended June 30, 2017 2016 As Adjusted U.S. $ 6,227,200 $ 8,505,004 Foreign 548,534 339,005 Income before income taxes $ 6,775,734 $ 8,855,867 Income Tax Provision Provision for income tax as listed on the Consolidated Statements of Operations for the years ended June 30, 2017 2016 1,589,403 $3,580,632, Provision for taxes consisted of the following: Years Ended June 30, 2017 2016 US operations $ 1,419,051 $ 3,485,411 Foreign operations 170,352 95,221 Total $ 1,589,403 $ 3,580,632 Deferred Income Tax Assets and Liabilities Deferred income tax assets and liabilities arise from temporary differences associated with differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates which are expected to be in effect when these differences reverse. The Company has adopted ASU 2017 17 The gross deferred tax asset balance as of June 30, 2017 1,250,748. $29,077, 2.3%, Provisions for income tax consisted of the following as of the years ended: For the year ended: June 30, 2017 June 30, 2016 Current: Federal $ 1,573,044 $ 2,929,891 States 138,728 324,111 Foreign 191,948 71,407 Total current 1,903,720 3,325,409 Deferred: Federal (173,657 ) 70,143 States (119,064 ) 162,220 Foreign (21,596 ) 22,860 Total deferred (314,317 ) 255,223 Total $ 1,589,403 $ 3,580,632 The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. T he effects of temporary differences and related deferred tax assets and liabilities are as: For the year ended: June 30, 2017 June 30, 2016 Deferred tax assets: Property and equipment and intangible assets - U.S. $ 1,291,927 $ 1,132,920 Net operating loss 111,698 1,204,967 Capital loss carryover - 6,970 Accruals, reserves and other - foreign 31,840 23,724 Accruals, reserves and other - U.S. 73,884 43,403 Gross deferred tax assets 1,509,349 2,411,984 Less valuation allowance (29,077 ) (1,232,512 ) Total deferred tax assets $ 1,480,272 $ 1,179,472 Deferred tax liabilities: Intangible assets - foreign $ (258,601 ) $ (272,095 ) Total deferred tax liabilities $ (258,601 ) $ (272,095 ) Change in Valuation Allowance: Income tax expense (benefit) for the years ended June 30, 2017 December 31, 2016 34% For the year ended: June 30, 2017 June 30, 2016 Federal tax expense (benefit) at statutory rate $ 2,321,442 $ 3,006,961 State income taxes (27,503 ) 440,396 Permanent differences 399,639 98,271 Change in valuation allowance (1,128,464 ) 55,999 Foreign rate differential 24,289 (20,995 ) Total tax expense/(benefit) $ 1,589,403 $ 3,580,632 For the year ended: June 30, 2017 June 30, 2016 % % Federal tax expense (benefit) at statutory rate 34.00 % 34.00 % State income taxes (0.40 % ) 4.98 % Permanent differences 5.85 % 1.11 % Foreign rate differential (0.36 % ) (0.24 %) Change in valuation allowance (16.53 % ) 0.63 % Total tax expense/(benefit) 23.28 % 40.48 % Reconciliation of unrecognized tax benefits per ASC 740 10 50 15.a Balance at June 30, 2016 $ - Additions based on tax positions taken during a prior period - Reductions based on tax positions taken during a prior period - Additions based on tax positions taken during the current period 206,046 Reductions based on tax positions taken during the current period - Reductions related to settlement of tax matters - Reductions related to a lapse of applicable statute of limitations - Balance at June 30, 2017 $ 206,046 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 15. COMMITMENTS AND CONTINGENCIES Lease Commitments Gourmet Foods has operating leases for its office, factory and warehouse facilities located in Tauranga, New Zealand, as well as for certain equipment including vehicles. These leases are generally for three three August 2018 August 2021, 11,853 June 30, 2017. Future minimum lease payments for Gourmet Foods are as follows: Year Ended June 30, Lease Amount 2018 $ 142,231 2019 63,377 2020 18,708 2021 10,864 2022 1,811 Total minimum lease commitment $ 236,991 Gourmet Foods entered into a General Security Agreement in favor of the Gerald O ’Leary Family Trust and registered on the Personal Property Securities Register for a priority sum of NZ$110,000 US$80,634 NZ$20,000 US$15,000 Brigadier leases office and storage facilities in Saskatoon, Saskatchewan as well as vehicles used for installations and service and various office equipment. The minimum lease obligations through their expiry dates are indicated as below and require monthly payments of approximately US$ 4,354 June 30, 2017. Future minimum lease payments for Brigadier are as follows: Year Ended June 30, Lease Amount 2018 $ 33,729 2019 30,919 Total minimum lease commitment $ 64,648 Wainwright leases office space in Oakland, California under an operating lease, which expires in October 2018. $146,000 $139,000 June 30, 2017 2016, Future minimum rental payments required under the operating lease, which has remaining non-cancellable lease terms in excess of one Year ended June 30, Lease Amount 2018 $ 135,000 2019 45,000 Total minimum lease commitment $ 180,000 Other Agreements and Commitments USCF Advisers has entered into expense limitation agreements with three October 31, 2017 0.55% 0.65%, third July 31, 2018 1.30% 0.95% may not 90 USCF manages seven s, whereby USCF will reimburse funds when fund expenditure levels exceed certain thresholds amounts. However, USCF has no Litigation From time to time, the Company is involved in legal proceedings arising mainly from the ordinary course of its business. In management ’s opinion, the legal proceedings are not Retirement Plan Wainwright's wholly owned subsidiary USCF, has a 401 21 1,000 one may profit sharing contributions paid totaled approximately $84,000 $63,000 June 30, 2017 2016, |
Note 16 - Segment Reporting
Note 16 - Segment Reporting | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16. SEGMENT REPORTING With the acquisition s of Wainwright Holdings, Gourmet Foods, Ltd. and Brigadier, the Company has identified four third The following table presents a summary of identifiable assets as of June 30, 2017 June 30, 2016: As of June 30, As of June 30, 2017 2016 As Adjusted Identifiable assets: Corporate headquarters $ 3,302,979 $ 1,805,163 U.S.A. : fund management 12,721,559 8,775,810 U.S.A. : data streaming 89,459 87,790 New Zealand: food industry 2,203,725 2,199,128 Canada: security alarm 1,278,161 956,855 Consolidated $ 19,595,883 $ 13,824,746 The following table presents a summary of operating information for the years ended June 30, 2017 June 30, 2016: ( 11 1 June 30, 2016) Year Ended June 30, 2017 Year Ended June 30, 2016 Revenues from unaffiliated customers: As Adjusted U.S.A. : data streaming and hardware $ 156,327 $ 120,430 U.S.A. : investment fund management 23,926,065 23,551,395 New Zealand : food industry 4,791,996 3,756,402 Canada : security alarm 3,136,733 348,553 Consolidated $ 32,011,121 $ 27,776,780 Net income (loss) after taxes: Corporate headquarters $ (669,040 ) $ (253,265 ) U.S.A. : data streaming and hardware (25,500 ) (60,612 ) U.S.A. : investment fund management 5,524,285 5,345,329 New Zealand : food industry 13,983 214,467 Canada : security alarm 342,603 29,316 Consolidated $ 5,186,331 $ 5,275,235 The following table presents a summary of net capital expenditures for the year ended June 30: 2017 2016 Capital expenditures: U.S.A. : corporate headquarters $ - $ 902 U.S.A. : data streaming and hardware 2,690 - U.S.A .: investment fund management - - New Zealand: food industry 155,620 102,760 Canada: security alarm 100,707 - Consolidated $ 259,017 $ 103,662 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Jun. 30, 2017 | |
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 other than the items noted below. On July 20, 2017, ’s USCF business launched two 3X 3X $ 2.5 September 22, 2017, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements, which are referred herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Kahnalytics. Wainwright was acquired during the current fiscal year . Due to the commonality of ownership and control between the two 12 The accompanying Financial Statements as of June 30, 2017 June 30, 2016 , or July 1, 2015. All significant inter-company transactions and accounts have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the Financial Statements are in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of the consolidated statement of cash flows, cash equivalents include all highly liquid debt instruments with original maturities of three not |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Risk Concierge ’s corporate office maintains cash balances at a financial institution headquartered in San Diego, California. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 $1.6 June 30, 2017. $250,000. June 30, 2017 $3.6 no none CD$100,000 CD$0.5 US$0.4 June 30, 2017. not June 30, 2017, NZ$0.7 US$0.5 not |
Premiums Receivable, Allowance for Doubtful Accounts, Estimation Methodology, Policy [Policy Text Block] | Accounts Receivable, Related Parties and Accounts Receivable, net Accounts receivable primarily consists of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of June 30, 2017 2016, nsignificant amount recorded in doubtful accounts. |
Major Customers, Policy [Policy Text Block] | Major Customers and Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is dependent upon its contractual relationship with the alarm monitoring company who purchases the monitoring contracts and provides monitoring services to Brigadier ’s customers. Sales to the two 46% June 30, 2017, 40% June 30, 2017. no not June 2016. Concierge, through Gourmet Foods, has three 1 2 3 June 30, 2017, 18% 41% 14% 34% 11 months ended June 30, 2016. second 11% 10% 11% 12% 11 months ended June 30, 2017 2016 two June 30, 2017 43% 44% 11 -month period ended June 30, 2016. No second 10% no third no one not one For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated 12 June 30, 2017 June 30, 2016 12 months ended June 30, 2017 June 30, 2017 Revenue Accounts Receivable Fund USO $ 13,761,317 58 % $ 1,060,421 60 % USCI 4,865,171 20 % 317,032 18 % UNG 3,118,432 13 % 217,760 12 % All Others 2,181,145 9 % 167,058 10 % Total $ 23,926,065 100 % $ 1,762,271 100 % 12 months ended June 30, 2016 June 30, 2016 Revenue Accounts Receivable Fund USO $ 14,020,971 59 % $ 1,245,396 59 % USCI 4,244,613 18 % 400,258 19 % UNG 3,242,502 14 % 280,431 13 % All Others 2,043,309 9 % 198,020 9 % Total $ 23,551,395 100 % $ 2,124,105 100 % |
Reclassification, Policy [Policy Text Block] | Reclassifications For comparative purposes, prior year ’s Financial Statements have been reclassified to conform to report classifications of the current year after giving consideration to the acquisition of Wainwright Holdings, Inc. as a pooling of interests under common control. |
Inventory, Policy [Policy Text Block] | Inventory Inventories, consisting primarily of food products and packaging in New Zealand and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or market. Inventories include product cost, inbound freight and warehousing costs. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventories to their market value, if lower. For the years ended June 30, 2017 June 30, 2016 $2,090 $48,330, June 30, 2017 June 30, 2016, $18,589 $0, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and leasehold improvements are capitalized. Office furniture and equipment include office fixtures, computers, printers and other office equipment plus software and applicable packaging designs. Leasehold improvements, which are included in plant and equipment, are depreciated over the shorter of the useful life of the improvement and the length of the lease. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight line method over the estimated useful life of the asset (see Note 5 Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase businesses combination. Goodwill is tested for impairment on an annual basis during the fourth may two first two not two no June 30, 2017 2016. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no s ended June 30, 2017 2016. |
Investments and Fair Value of Financial Instruments, Policy [Policy Text Block] | Investments and Fair Value of Financial Instruments Short-term investments are classified as available-for-sale securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses). The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 – Fair Value Measurements and Disclosures (“ASC 820” 820 820 820 1 2 three 820 Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level 2 not Level 3 – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. The following table summarizes the valuation of the Company ’s securities at June 30, 2017 At June 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 86,204 $ 86,204 $ - $ - Mutual fund investment 2,450,920 2,450,920 - - ETF investment 809,900 809,900 - - Hedge asset 230,746 - 230,746 - Other e quities 979 979 - - Total $ 3,578,749 $ 3,348,003 $ 230,746 $ - During the year ended June 30, 2017, no The following table summarizes the valuation of the Company ’s securities at June 30, 2016 At June 30, 2016 Total Level 1 Level 2 Level 3 Money market funds $ 96 $ 96 $ - $ - Other e quities 897 897 - - Total $ 993 $ 993 $ - $ - During the year ended June 30, 2016, no |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and monitoring service in Canada, and subscriptions to gathering of live-streaming video recording data displayed online to users. Revenue is accounted for net of sales taxes, sales returns, trade discounts. Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, the delivery has occurred, no |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the years ended June 30, 2017 2016 3.4 $2.9 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income (Loss) and Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation. The accounts of Gourmet Foods, Ltd. use the New Zealand dollar as the functional currency. The accounts of Brigadier Security System use the Canadian dollar as the functional currency. Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange rate throughout the period. Accumulated translation gains and losses classified as an item of accumulated other comprehensive income (loss) in the stockholders’ equity section of the consolidated balance sheet was approximately $113 $30 June 30, 2017 2016, $36 $0 June 30, 2017 2016, June 30, 2017 June 30, 2016 no |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries ( 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 ’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may one may June 30, 2017 2016 no |
Reclassifications [Policy Text Block] | Reclassifications Certain 2016 2017 in consideration of the pooling of interests with Wainwright during the current fiscal year. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In September 2015, No. 2015 16, "Business Combinations (Topic 805 No. 2015 06 December 15, 2015 In November 2015, 2015 17, 2015 17 December 15, 2016, 2015 17 not ’s results of operations, financial position or disclosures. In January 2016, 2016 01, 2016 01 not 2016 01 December 15, 2017. not ’s results of operations, financial position or disclosures. In February 2016, No. 2016 02, not December 15, 2018 In March 2016, 2016 07, 2016 07” 2016 07 2016 07 December 15, 2016, In March 2016, 2016 09, December 15, 2016 may On November 17, 2016, 2016 18, 230 no 2016 18 December 15, 2017 2016 18 not ’s consolidated financial statements. In January 2017, No. 2017 01, December 15, 2017, not not In January 2017, No. 2017 04, ’s carrying value exceeds its fair value, not December 15, 2019, January 1, 2017. No ’s consolidated financial statements. |
Note 2 - Summary of Significa26
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | 12 months ended June 30, 2017 June 30, 2017 Revenue Accounts Receivable Fund USO $ 13,761,317 58 % $ 1,060,421 60 % USCI 4,865,171 20 % 317,032 18 % UNG 3,118,432 13 % 217,760 12 % All Others 2,181,145 9 % 167,058 10 % Total $ 23,926,065 100 % $ 1,762,271 100 % 12 months ended June 30, 2016 June 30, 2016 Revenue Accounts Receivable Fund USO $ 14,020,971 59 % $ 1,245,396 59 % USCI 4,244,613 18 % 400,258 19 % UNG 3,242,502 14 % 280,431 13 % All Others 2,043,309 9 % 198,020 9 % Total $ 23,551,395 100 % $ 2,124,105 100 % |
Property, Plant and Equipment, Estimated Useful Life [Table Text Block] | Category Estimated Useful Life (in years) Plant and equipment: 5 to 10 Furniture and office equipment: 3 to 5 Vehicles 3 to 5 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At June 30, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 86,204 $ 86,204 $ - $ - Mutual fund investment 2,450,920 2,450,920 - - ETF investment 809,900 809,900 - - Hedge asset 230,746 - 230,746 - Other e quities 979 979 - - Total $ 3,578,749 $ 3,348,003 $ 230,746 $ - At June 30, 2016 Total Level 1 Level 2 Level 3 Money market funds $ 96 $ 96 $ - $ - Other e quities 897 897 - - Total $ 993 $ 993 $ - $ - |
Note 3 - Basic and Diluted Ne27
Note 3 - Basic and Diluted Net Loss Per Share (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the year ended June 30, 2017 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 5,186,331 886,753,847 $ 0.01 Effect of dilutive securities Preferred stock Series B - 262,169,477 0.00 Diluted income per share $ 5,186,331 1,148,923,324 $ 0.00 For the year ended June 30, 2016 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 5,275,235 886,753,847 $ 0.01 Effect of dilutive securities Preferred stock Series B 262,169,477 0.00 Diluted income per share $ 5,275,235 1,148,923,324 $ 0.00 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, June 30, 2017 2016 Raw materials $ 43,088 $ 50,023 Supplies and packing materials 125,241 77,497 Finished goods 278,035 357,351 446,364 484,871 Less : Impairment of finished goods (2,090 ) (48,330 ) Total $ 444,274 $ 436,541 |
Note 5 - Property and Equipme29
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2017 June 30, 2016 Plant and equipment $ 1,460,180 $ 1,477,411 Furniture and office equipment 162,781 119,123 Vehicles 185,866 58,850 Total property and equipment, gross 1,808,827 1,655,384 Accumulated depreciation (649,362 ) (488,691 ) Total property and equipment, net $ 1,159,465 $ 1,166,693 |
Note 6 - Intangible Assets (Tab
Note 6 - Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | June 30, June 30, 2017 2016 Brand name $ 402,123 $ 402,123 Domain name 36,913 36,913 Customer relationships 500,252 500,252 Non-compete agreement 84,982 84,982 Recipes 21,601 21,601 Total 1,045,871 1,045,871 Less : accumulated amortization (146,595 ) (27,658 ) Net intangibles $ 899,276 $ 1,018,213 June 30, June 30, 2017 2016 Customer relationships $ 500,252 500,252 Less: accumulated amortization (59,684 ) (9,659 ) Total customer relationships, net $ 440,568 490,593 June 30, June 30, 2017 2016 Brand name $ 402,123 $ 402,123 Less: accumulated amortization (48,660 ) (8,448 ) Total brand name, net $ 353,463 $ 393,675 June 30, June 30, 2017 2016 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (11,576 ) (4,193 ) Total brand name, net $ 25,337 $ 32,720 June 30, June 30, 2017 2016 Recipes $ 21,601 $ 21,601 Less: accumulated amortization (8,257 ) (3,937 ) Total recipes, net $ 13,344 $ 17,664 June 30, June 30, 2017 2016 Non-compete agreement $ 84,982 $ 84,982 Less: accumulated amortization (18,418 ) (1,421 ) Total non-compete agreement, net $ 66,564 $ 83,561 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, Expense 2018 $ 118,937 2019 118,937 2020 118,937 2021 109,385 2022 90,237 Thereafter 342,843 Total $ 899,276 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | As of June 30, As of June 30, 2017 2016 As Adjusted Deposits $ 183,634 $ - Pre paid expenses 28,667 87,071 Dividends receivable 7,298 5,513 Notes receivable 150,000 150,000 Total $ 369,599 $ 242,584 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2017 Cost Gross Unrealized Gains Gross Unrealized Loses Estimated Fair Value Money market funds $ 86,204 $ - $ - $ 86,204 USCI mutual fund investment 2,500,000 - (49,080 ) 2,450,920 MENU ETF investment 768,427 41,473 - 809,900 Hedge d asset 187,000 43,746 - 230,746 Other equities 1,577 - (598 ) 979 Total short-term investments $ 3,543,208 $ 85,219 $ (49,678 ) 3,578,749 June 30, 2016 Cost Gross Unrealized Gains Gross Unrealized Loses Estimated Fair Value Money market funds $ 96 $ - $ - $ 96 Other equities 1,577 - (680 ) 897 Total short - term investments $ 1,673 $ - $ (680 ) $ 993 |
Note 8 - Goodwill (Tables)
Note 8 - Goodwill (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | As of June 30, 2017 As of June 30, 2016 Goodwill – Gourmet Foods 147,628 147,628 Goodwill - Brigadier 351,345 351,345 Total $ 498,973 $ 498,973 |
Note 9 - Accounts Payable and33
Note 9 - Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2017 June 30, 2016 As Adjusted Accounts payable $ 1,781,772 $ 1,044,826 Accrued interest 32,410 5,337 Taxes payable 123 769,224 Deferred rent 13,402 19,203 Accrued payroll and vacation pay 349,507 127,271 Accrued expenses 665,641 430,956 Total $ 2,842,855 $ 2,396,817 |
Note 10 - Related Party Trans34
Note 10 - Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2017 June 30, 2016 Notes payable to shareholder, interest rate of 10%, unsecured and payable on July 31, 2004 (past due) $ - $ 5,000 Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due) 3,500 3,500 Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022 250,000 - Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022 350,000 - $ 603,500 $ 8,500 |
Note 12 - Business Combination
Note 12 - Business Combination (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Brigadier Security Systems Acquisition [Member] | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Assets Cash $ 80,391 Accounts receivable 431,656 Inventory 238,148 Prepaid expenses and other assets 20,001 Property, plant and equipment 20,455 Intangible assets 875,087 Goodwill 353,507 Total Assets $ 2,019,246 Liabilities Accounts payable $ 187,925 Income tax payable 55,953 Deferred tax liability 231,898 Customer deposits 2,640 Total Liabilities $ 478,416 Consideration paid for net assets $ 1,540,830 |
Gourmet Foods Acquisition [Member] | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Cash $ 50,695 Accounts receivable 259,662 Prepaid expenses 11,246 Inventory 256,271 Property and equipment 1,207,762 Intangible assets 170,784 Goodwill 145,467 Total assets $ 2,101,887 Accounts payable $ 253,951 Deferred tax liability 47,820 Employee entitlements 46,688 Total liabilities $ 348,459 Consideration Paid for Net Assets $ 1,753,428 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended June 30, 2017 2016 As Adjusted U.S. $ 6,227,200 $ 8,505,004 Foreign 548,534 339,005 Income before income taxes $ 6,775,734 $ 8,855,867 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended June 30, 2017 2016 US operations $ 1,419,051 $ 3,485,411 Foreign operations 170,352 95,221 Total $ 1,589,403 $ 3,580,632 For the year ended: June 30, 2017 June 30, 2016 Current: Federal $ 1,573,044 $ 2,929,891 States 138,728 324,111 Foreign 191,948 71,407 Total current 1,903,720 3,325,409 Deferred: Federal (173,657 ) 70,143 States (119,064 ) 162,220 Foreign (21,596 ) 22,860 Total deferred (314,317 ) 255,223 Total $ 1,589,403 $ 3,580,632 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | For the year ended: June 30, 2017 June 30, 2016 Deferred tax assets: Property and equipment and intangible assets - U.S. $ 1,291,927 $ 1,132,920 Net operating loss 111,698 1,204,967 Capital loss carryover - 6,970 Accruals, reserves and other - foreign 31,840 23,724 Accruals, reserves and other - U.S. 73,884 43,403 Gross deferred tax assets 1,509,349 2,411,984 Less valuation allowance (29,077 ) (1,232,512 ) Total deferred tax assets $ 1,480,272 $ 1,179,472 Deferred tax liabilities: Intangible assets - foreign $ (258,601 ) $ (272,095 ) Total deferred tax liabilities $ (258,601 ) $ (272,095 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the year ended: June 30, 2017 June 30, 2016 Federal tax expense (benefit) at statutory rate $ 2,321,442 $ 3,006,961 State income taxes (27,503 ) 440,396 Permanent differences 399,639 98,271 Change in valuation allowance (1,128,464 ) 55,999 Foreign rate differential 24,289 (20,995 ) Total tax expense/(benefit) $ 1,589,403 $ 3,580,632 For the year ended: June 30, 2017 June 30, 2016 % % Federal tax expense (benefit) at statutory rate 34.00 % 34.00 % State income taxes (0.40 % ) 4.98 % Permanent differences 5.85 % 1.11 % Foreign rate differential (0.36 % ) (0.24 %) Change in valuation allowance (16.53 % ) 0.63 % Total tax expense/(benefit) 23.28 % 40.48 % |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Balance at June 30, 2016 $ - Additions based on tax positions taken during a prior period - Reductions based on tax positions taken during a prior period - Additions based on tax positions taken during the current period 206,046 Reductions based on tax positions taken during the current period - Reductions related to settlement of tax matters - Reductions related to a lapse of applicable statute of limitations - Balance at June 30, 2017 $ 206,046 |
Note 15 - Commitments and Con37
Note 15 - Commitments and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ended June 30, Lease Amount 2018 $ 142,231 2019 63,377 2020 18,708 2021 10,864 2022 1,811 Total minimum lease commitment $ 236,991 Year Ended June 30, Lease Amount 2018 $ 33,729 2019 30,919 Total minimum lease commitment $ 64,648 Year ended June 30, Lease Amount 2018 $ 135,000 2019 45,000 Total minimum lease commitment $ 180,000 |
Note 16 - Segment Reporting (Ta
Note 16 - Segment Reporting (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | As of June 30, As of June 30, 2017 2016 As Adjusted Identifiable assets: Corporate headquarters $ 3,302,979 $ 1,805,163 U.S.A. : fund management 12,721,559 8,775,810 U.S.A. : data streaming 89,459 87,790 New Zealand: food industry 2,203,725 2,199,128 Canada: security alarm 1,278,161 956,855 Consolidated $ 19,595,883 $ 13,824,746 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Year Ended June 30, 2017 Year Ended June 30, 2016 Revenues from unaffiliated customers: As Adjusted U.S.A. : data streaming and hardware $ 156,327 $ 120,430 U.S.A. : investment fund management 23,926,065 23,551,395 New Zealand : food industry 4,791,996 3,756,402 Canada : security alarm 3,136,733 348,553 Consolidated $ 32,011,121 $ 27,776,780 Net income (loss) after taxes: Corporate headquarters $ (669,040 ) $ (253,265 ) U.S.A. : data streaming and hardware (25,500 ) (60,612 ) U.S.A. : investment fund management 5,524,285 5,345,329 New Zealand : food industry 13,983 214,467 Canada : security alarm 342,603 29,316 Consolidated $ 5,186,331 $ 5,275,235 |
Reconciliation of Capital Expenditures from Segments to Consolidated [Table Text Block] | 2017 2016 Capital expenditures: U.S.A. : corporate headquarters $ - $ 902 U.S.A. : data streaming and hardware 2,690 - U.S.A .: investment fund management - - New Zealand: food industry 155,620 102,760 Canada: security alarm 100,707 - Consolidated $ 259,017 $ 103,662 |
Note 1 - Organization and Des39
Note 1 - Organization and Description of Business (Details Textual) $ in Billions | Jun. 30, 2017USD ($) |
Wainwright [Member] | |
Assets under Management, Carrying Amount | $ 4.1 |
Note 2 - Summary of Significa40
Note 2 - Summary of Significant Accounting Policies (Details Textual) NZD in Millions, CAD in Millions | 11 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017NZD | Jun. 30, 2017USD ($) | Jun. 30, 2017CAD | |
Asset Impairment Charges | $ 2,090 | $ 48,330 | ||||
Inventory Valuation Reserves | $ 0 | 0 | $ 18,589 | |||
Goodwill, Impairment Loss | 0 | 0 | ||||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | ||||
Advertising Expense | $ 3,400,000 | 2,900,000 | ||||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (30,000) | (30,000) | 113,000 | |||
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | $ 0 | $ 0 | 36,000 | |||
Wainwright [Member] | ||||||
Cash, Uninsured Amount | 3,600,000 | |||||
Wainwright [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 100.00% | ||||
Wainwright [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 100.00% | ||||
Brigadier [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Number of Major Customers | 2 | |||||
Concentration Risk, Percentage | 46.00% | |||||
Brigadier [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Percentage | 40.00% | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Grocery Industry [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gasoline Convenience Store Sector [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Independent Retailers Sector [Member] | ||||||
Number of Major Customers | 0 | |||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 34.00% | 41.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 12.00% | 11.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Gross [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 14.00% | 18.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Gross [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | ||||||
Concentration Risk, Percentage | 44.00% | 43.00% | ||||
Gourmet Foods [Member] | Customer Concentration Risk [Member] | Sales Revenue, Gross [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||||
Concentration Risk, Percentage | 10.00% | 11.00% | ||||
UNITED STATES | ||||||
Cash, Uninsured Amount | 1,600,000 | |||||
CANADA | Wainwright [Member] | ||||||
Cash, Uninsured Amount | 400,000 | CAD 0.5 | ||||
Non-US [Member] | Wainwright [Member] | ||||||
Cash, Uninsured Amount | NZD 0.7 | $ 500,000 |
Note 2 - Summary of Significa41
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Revenue, related parties | $ 23,926,065 | $ 23,551,395 |
Accounts receivable, related parties | 1,762,271 | 2,124,104 |
Wainwright [Member] | ||
Revenue, related parties | 23,900,000 | 23,600,000 |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | ||
Revenue, related parties | $ 23,926,065 | $ 23,551,395 |
Revenue, related parties, concentration risk percentage | 100.00% | 100.00% |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | ||
Revenue, related parties | $ 13,761,317 | $ 14,020,971 |
Revenue, related parties, concentration risk percentage | 58.00% | 59.00% |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | ||
Revenue, related parties | $ 4,865,171 | $ 4,244,613 |
Revenue, related parties, concentration risk percentage | 20.00% | 18.00% |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||
Revenue, related parties | $ 3,118,432 | $ 3,242,502 |
Revenue, related parties, concentration risk percentage | 13.00% | 14.00% |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Wainwright [Member] | All Other Customers [Member] | ||
Revenue, related parties | $ 2,181,145 | $ 2,043,309 |
Revenue, related parties, concentration risk percentage | 9.00% | 9.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | ||
Revenue, related parties, concentration risk percentage | 100.00% | 100.00% |
Accounts receivable, related parties | $ 1,762,271 | $ 2,124,105 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | ||
Revenue, related parties, concentration risk percentage | 60.00% | 59.00% |
Accounts receivable, related parties | $ 1,060,421 | $ 1,245,396 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | ||
Revenue, related parties, concentration risk percentage | 18.00% | 19.00% |
Accounts receivable, related parties | $ 317,032 | $ 400,258 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||
Revenue, related parties, concentration risk percentage | 12.00% | 13.00% |
Accounts receivable, related parties | $ 217,760 | $ 280,431 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | ||
Revenue, related parties, concentration risk percentage | 10.00% | 9.00% |
Accounts receivable, related parties | $ 167,058 | $ 198,020 |
Note 2 - Summary of Significa42
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 12 Months Ended |
Jun. 30, 2017 | |
Minimum [Member] | Machinery and Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Minimum [Member] | Vehicles [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Maximum [Member] | Machinery and Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Maximum [Member] | Vehicles [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 2 - Summary of Significa43
Note 2 - Summary of Significant Accounting Policies - Fair Value Measurement of Securities (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Investments | $ 3,578,749 | $ 993 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments | 3,348,003 | 993 |
Fair Value, Inputs, Level 2 [Member] | ||
Investments | 230,746 | |
Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Money Market Funds [Member] | ||
Investments | 86,204 | 96 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 86,204 | 96 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Mutual Fund [Member] | ||
Investments | 2,450,920 | |
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 2,450,920 | |
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Other Equities [Member] | ||
Investments | 979 | 897 |
Other Equities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 979 | 897 |
Other Equities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Other Equities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
ETF [Member] | ||
Investments | 809,900 | |
ETF [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 809,900 | |
ETF [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
ETF [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Hedge Asset [Member] | ||
Investments | 230,746 | |
Hedge Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | ||
Hedge Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | 230,746 | |
Hedge Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments |
Note 3 - Basic and Diluted Ne44
Note 3 - Basic and Diluted Net Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net income available to common shareholders, basic | $ 5,186,331 | $ 5,275,235 |
Shares, basic (in shares) | 886,753,847 | 886,753,847 |
Net income available to common shareholders, per share (in dollars per share) | $ 0.01 | $ 0.01 |
Effect of dilutive securities, shares (in shares) | 262,169,477 | 262,169,477 |
Effect of dilutive securities, per share (in dollars per share) | $ 0 | $ 0 |
Net income available to common shareholders, diluted | $ 5,186,331 | $ 5,275,235 |
Shares, diltued (in shares) | 1,148,923,324 | 1,148,923,324 |
Diluted income per share, per share (in dollars per share) | $ 0 | $ 0 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Raw materials | $ 43,088 | $ 50,023 |
Supplies and packing materials | 125,241 | 77,497 |
Finished goods | 278,035 | 357,351 |
Inventory, gross | 446,364 | 484,871 |
Less : Impairment of finished goods | (2,090) | (48,330) |
Total | $ 444,274 | $ 436,541 |
Note 5 - Property and Equipme46
Note 5 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Depreciation | $ 299,903 | $ 229,469 |
Note 5 - Property and Equipme47
Note 5 - Property and Equipment - Property and Equipment Summary (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Plant and Equipment, Gross | $ 1,808,827 | $ 1,655,384 |
Accumulated depreciation | (649,362) | (488,691) |
Total property and equipment, net | 1,159,465 | 1,166,693 |
Plant and Equipment [Member] | ||
Plant and Equipment, Gross | 1,460,180 | 1,477,411 |
Furniture and Fixtures [Member] | ||
Plant and Equipment, Gross | 162,781 | 119,123 |
Vehicles [Member] | ||
Plant and Equipment, Gross | $ 185,866 | $ 58,850 |
Note 6 - Intangible Assets (Det
Note 6 - Intangible Assets (Details Textual) - USD ($) | Jun. 02, 2016 | Aug. 11, 2015 | Jun. 30, 2017 | Jun. 30, 2016 |
Amortization of Intangible Assets | $ 118,937 | $ 27,658 | ||
Gourmet Foods Acquisition [Member] | Customer Relationships [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 66,153 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Gourmet Foods Acquisition [Member] | Brand Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 61,429 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Gourmet Foods Acquisition [Member] | Domain Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 21,601 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Gourmet Foods Acquisition [Member] | Recipes [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 21,601 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Brigadier Security Systems Acquisition [Member] | Customer Relationships [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 434,099 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Brigadier Security Systems Acquisition [Member] | Brand Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 340,694 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years | |||
Brigadier Security Systems Acquisition [Member] | Domain Name [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 15,312 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |||
Brigadier Security Systems Acquisition [Member] | Noncompete Agreements [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 84,982 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years |
Note 6 - Intangible Assets - Su
Note 6 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Finite-lived intangible assets, gross | $ 1,045,871 | $ 1,045,871 |
Less : accumulated amortization | (146,595) | (27,658) |
Total | 899,276 | 1,018,213 |
Brand Name [Member] | ||
Finite-lived intangible assets, gross | 402,123 | 402,123 |
Less : accumulated amortization | (48,660) | (8,448) |
Total | 353,463 | 393,675 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | 500,252 | 500,252 |
Less : accumulated amortization | (59,684) | (9,659) |
Total | 440,568 | 490,593 |
Domain Name [Member] | ||
Finite-lived intangible assets, gross | 36,913 | 36,913 |
Less : accumulated amortization | (11,576) | (4,193) |
Total | 25,337 | 32,720 |
Recipes [Member] | ||
Finite-lived intangible assets, gross | 21,601 | 21,601 |
Less : accumulated amortization | (8,257) | (3,937) |
Total | 13,344 | 17,664 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | 84,982 | 84,982 |
Less : accumulated amortization | (18,418) | (1,421) |
Total | $ 66,564 | $ 83,561 |
Note 6 - Intangible Assets - Sc
Note 6 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
2,018 | $ 118,937 | |
2,019 | 118,937 | |
2,020 | 118,937 | |
2,021 | 109,385 | |
2,022 | 90,237 | |
Thereafter | 342,843 | |
Total | $ 899,276 | $ 1,018,213 |
Note 7 - Other Assets (Details
Note 7 - Other Assets (Details Textual) | Jun. 30, 2017NZD | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) |
Other Assets, Current | $ 369,599 | $ 242,584 | |
Available-for-sale Securities | 3,578,749 | 993 | |
Equity Method Investments | 0 | 0 | |
Restricted Cash and Cash Equivalents | NZD 20,000 | 14,870 | 0 |
Other Assets, Noncurrent | 509,538 | 509,538 | |
Wainwright [Member] | |||
Other Assets, Noncurrent | $ 500,000 | $ 509,980 | |
Cost Method Investment, Ownership Percentage | 10.00% | 10.00% | 10.00% |
Wainwright [Member] | Investment Fund [Member] | |||
Other Assets, Noncurrent | $ 980 | ||
Wainwright [Member] | Security Deposits [Member] | |||
Other Assets, Noncurrent | $ 8,558 |
Note 7 - Other Assets - Other C
Note 7 - Other Assets - Other Current Assets (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Deposits | $ 183,634 | |
Prepaid expenses | 28,667 | 87,071 |
Dividends receivable | 7,298 | 5,513 |
Notes receivable | 150,000 | 150,000 |
Total | $ 369,599 | $ 242,584 |
Note 7 - Other Assets - Investm
Note 7 - Other Assets - Investments (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Investments, cost | $ 3,543,208 | $ 1,673 |
Investments, gross unrealized gains | 85,219 | |
Investments, gross unrealized losses | (49,678) | (680) |
Investments | 3,578,749 | 993 |
Money Market Funds [Member] | ||
Investments, cost | 86,204 | 96 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | ||
Investments | 86,204 | 96 |
Mutual Fund [Member] | ||
Investments, cost | 2,500,000 | |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (49,080) | |
Investments | 2,450,920 | |
Other Equities [Member] | ||
Investments, cost | 1,577 | 1,577 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (598) | (680) |
Investments | 979 | $ 897 |
ETF [Member] | ||
Investments, cost | 768,427 | |
Investments, gross unrealized gains | 41,473 | |
Investments, gross unrealized losses | ||
Investments | 809,900 | |
Hedge Asset [Member] | ||
Investments, cost | 187,000 | |
Investments, gross unrealized gains | 43,746 | |
Investments, gross unrealized losses | ||
Investments | $ 230,746 |
Note 8 - Goodwill (Details Text
Note 8 - Goodwill (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill, Period Increase (Decrease) | $ 279,717 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 8 - Goodwill - Summary of
Note 8 - Goodwill - Summary of Goodwill (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Goodwill | $ 498,973 | $ 498,973 |
Gourmet Foods [Member] | ||
Goodwill, gross | 147,628 | 147,628 |
Brigadier [Member] | ||
Goodwill, gross | $ 351,345 | $ 351,345 |
Note 9 - Accounts Payable and56
Note 9 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Accounts payable | $ 1,781,772 | $ 1,044,826 |
Accrued interest | 32,410 | 5,337 |
Taxes payable | 123 | 769,224 |
Deferred rent | 13,402 | 19,203 |
Accrued payroll and vacation pay | 349,507 | 127,271 |
Accrued expenses | 665,641 | 430,956 |
Total | $ 2,842,855 | $ 2,396,817 |
Note 10 - Related Party Trans57
Note 10 - Related Party Transactions (Details Textual) - USD ($) | Jul. 07, 2016 | May 25, 2016 | Apr. 08, 2016 | Jun. 30, 2017 | Jun. 30, 2016 |
Repayments of Related Party Debt | $ 5,000 | ||||
Interest Paid | 5,000 | ||||
Accrued Interest, Related Party, Forgiveness | $ 2,075 | ||||
Interest Expense, Related Party | $ 18,999 | $ 3,151 | |||
Revenue from Related Parties | 23,926,065 | 23,551,395 | |||
Accounts Receivable, Related Parties | 1,800,000 | 2,100,000 | |||
Expense Waiver Funds, Related Party | 800,000 | 800,000 | |||
Fund Expense Limitation Amount, Related Party | 400,000 | 300,000 | |||
Waivers Payable, Related Party | 600,000 | 500,000 | |||
Wainwright [Member] | |||||
Revenue from Related Parties | $ 23,900,000 | $ 23,600,000 | |||
Minimum [Member] | |||||
Deposit Asset, Interest Rate | 0.01% | ||||
Maximum [Member] | |||||
Deposit Asset, Interest Rate | 1.75% | ||||
Convertible Promissory Notes [Member] | Gerber Irrevocable Family Trust [Member] | |||||
Proceeds from Related Party Debt | $ 350,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||
Debt Instrument Interest Rate Stated Percentage in Case of Default | 19.00% | 19.00% | |||
Convertible Promissory Notes [Member] | Schoenberger Family Trust [Member] | |||||
Proceeds from Related Party Debt | $ 250,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% |
Note 10 - Related Party Trans58
Note 10 - Related Party Transactions - Notes Payable (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Notes payable | $ 603,500 | $ 8,500 |
Notes Payable on July 31, 2004 [Member] | ||
Notes payable | 5,000 | |
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 | |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable | $ 350,000 |
Note 10 - Related Party Trans59
Note 10 - Related Party Transactions - Notes Payable (Details) (Parentheticals) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Notes Payable on July 31, 2004 [Member] | ||
Notes payable, interest rate | 10.00% | |
Notes payable, maturity date | Jul. 31, 2004 | |
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 - Equipment Loans (Deta
Note 11 - Equipment Loans (Details Textual) | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017CAD | |
Notes Payable | $ 89,993 | CAD 116,658 | |
Notes Payable, Current | 17,388 | $ 0 | |
Notes Payable, Noncurrent | 72,605 | 0 | |
Interest Expense, Debt | $ 1,656 | $ 0 |
Note 12 - Business Combinatio61
Note 12 - Business Combination (Details Textual) | Dec. 09, 2016$ / sharesshares | Jun. 02, 2016USD ($) | Jun. 02, 2016CAD | May 28, 2015NZD | May 28, 2015USD ($) | Jun. 30, 2016USD ($)$ / shares | Jun. 30, 2016CAD | Jun. 30, 2017NZD | Jun. 30, 2017USD ($)$ / shares | Jun. 02, 2016CAD |
Restricted Cash and Cash Equivalents | $ 0 | NZD 20,000 | $ 14,870 | |||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | ||||||||
Nicholas Gerber and Scott Schoenberger [Member] | Wainwright [Member] | ||||||||||
Ownership Percentage | 50.00% | |||||||||
Nicholas Gerber and Scott Schoenberger [Member] | Concierge Technologies [Member] | ||||||||||
Ownership Percentage | 50.00% | |||||||||
Gourmet Foods Acquisition [Member] | ||||||||||
Business Combination, Consideration Transferred | NZD 2,597,535 | $ 1,753,428 | ||||||||
Brigadier Security Systems Acquisition [Member] | ||||||||||
Business Combination, Consideration Transferred | $ 1,540,830 | CAD 2,010,266 | ||||||||
Payments to Acquire Businesses, Gross | 756,859 | 1,000,000 | ||||||||
Business Combination, Agreement, Sales Threshold | CAD | CAD 1,500,000 | |||||||||
Business Combination, Purchase Price Adjustment | $ 214,035 | CAD 277,266 | ||||||||
Brigadier Security Systems Acquisition [Member] | Cash Held in Attorney Client Trust Account [Member] | ||||||||||
Restricted Cash and Cash Equivalents | $ 569,935 | CAD 733,000 | ||||||||
Wainwright Acquisition Agreement [Member] | ||||||||||
Business Combinations, Stock Purchase Agreement, Shares Purchased | 1,741 | |||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | |||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 187,082,377 | |||||||||
Wainwright Acquisition Agreement [Member] | Convertible Preferred Stock [Member] | ||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 9,354,119 | |||||||||
Wainwright Acquisition Agreement [Member] | Common Stock [Member] | ||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 818,799,976 |
Note 12 - Business Combinations
Note 12 - Business Combinations - Summary of Gourmet Foods Acquisition (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 | May 28, 2015 |
Goodwill | $ 498,973 | $ 498,973 | |
Gourmet Foods Acquisition [Member] | |||
Cash | $ 50,695 | ||
Accounts receivable | 259,662 | ||
Prepaid expenses | 11,246 | ||
Inventory | 256,271 | ||
Property and equipment | 1,207,762 | ||
Intangible assets | 170,784 | ||
Goodwill | 145,467 | ||
Total assets | 2,101,887 | ||
Accounts payable | 253,951 | ||
Deferred tax liability | 47,820 | ||
Employee entitlements | 46,688 | ||
Total liabilities | 348,459 | ||
Consideration Paid for Net Assets | $ 1,753,428 |
Note 12 - Business Combinatio63
Note 12 - Business Combinations - Summary of Brigadier Security Systems Acquisition (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 02, 2016 |
Goodwill | $ 498,973 | $ 498,973 | |
Brigadier Security Systems Acquisition [Member] | |||
Cash | $ 80,391 | ||
Accounts receivable | 431,656 | ||
Inventory | 238,148 | ||
Prepaid expenses | 20,001 | ||
Property and equipment | 20,455 | ||
Intangible assets | 875,087 | ||
Goodwill | 353,507 | ||
Total assets | 2,019,246 | ||
Accounts payable | 187,925 | ||
Income tax payable | 55,953 | ||
Deferred tax liability | 231,898 | ||
Customer deposits | 2,640 | ||
Total liabilities | 478,416 | ||
Consideration paid for net assets | $ 1,540,830 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Details Textual) | Nov. 11, 2015 | Jun. 30, 2017shares |
Series B Convertible Preferred Stock [Member] | ||
Convertible Preferred Stock, Shares Issued upon Conversion | 20 | |
Convertible Preferred Stock, Conversion Eligible, Days after Issuance has Transpired | 270 days | |
Reverse Stock Split [Member] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Income Tax Expense (Benefit) | $ 1,589,403 | $ 3,580,632 | |
Deferred Tax Assets, Gross | 1,250,748 | 2,411,984 | |
Deferred Tax Assets, Valuation Allowance | $ 29,077 | $ 1,232,512 | |
Deferred Tax Assets, Valuation Allowance, Percent | 2.30% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | 34.00% |
Note 14 - Income Taxes - Income
Note 14 - Income Taxes - Income Before Taxes (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
U.S. | $ 6,227,200 | $ 8,505,004 |
Foreign | 548,534 | 339,005 |
Income before income taxes | $ 6,775,734 | $ 8,855,867 |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Taxes (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
US operations | $ 1,419,051 | $ 3,485,411 |
Foreign operations | 170,352 | 95,221 |
Total | 1,589,403 | 3,580,632 |
Current: | ||
Federal | 1,573,044 | 2,929,891 |
States | 138,728 | 324,111 |
Foreign | 191,948 | 71,407 |
Total current | 1,903,720 | 3,325,409 |
Deferred: | ||
Federal | (173,657) | 70,143 |
States | (119,064) | 162,220 |
Foreign | (21,596) | 22,860 |
Total deferred | (314,317) | 255,223 |
Total | $ 1,589,403 | $ 3,580,632 |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Property and equipment and intangible assets - U.S. | $ 1,291,927 | $ 1,132,920 |
Net operating loss | 111,698 | 1,204,967 |
Capital loss carryover | 6,970 | |
Accruals, reserves and other - foreign | 31,840 | 23,724 |
Accruals, reserves and other - U.S. | 73,884 | 43,403 |
Gross deferred tax assets | 1,250,748 | 2,411,984 |
Less valuation allowance | (29,077) | (1,232,512) |
Total deferred tax assets | 1,480,272 | 1,179,472 |
Intangible assets - foreign | (258,601) | (272,095) |
Total deferred tax liabilities | $ (258,601) | $ (272,095) |
Note 14 - Income Taxes - Inco69
Note 14 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Federal tax expense (benefit) at statutory rate, amount | $ 2,321,442 | $ 3,006,961 | |
State Income Taxes, amount | (27,503) | 440,396 | |
Permanent Differences, amount | 399,639 | 98,271 | |
Change in Valuation Allowance, amount | (1,128,464) | 55,999 | |
Foreign Rate Differential, amount | 24,289 | (20,995) | |
Total | $ 1,589,403 | $ 3,580,632 | |
Federal tax expense (benefit) at statutory rate, percent | 34.00% | 34.00% | 34.00% |
State Income Taxes, percent | (0.40%) | 4.98% | |
Permanent Differences, percent | 5.85% | 1.11% | |
Foreign Rate Differential, percent | 0.36% | 0.24% | |
Change in Valuation Allowance, percent | (16.53%) | 0.63% | |
Total tax expense/(benefit) | 23.28% | 40.48% |
Note 14 - Income Taxes - Unreco
Note 14 - Income Taxes - Unrecognized Tax Benefits (Details) | 12 Months Ended |
Jun. 30, 2017USD ($) | |
Balance | |
Additions based on tax positions taken during a prior period | |
Reductions based on tax positions taken during a prior period | |
Additions based on tax positions taken during the current period | 206,046 |
Reductions based on tax positions taken during the current period | |
Reductions related to settlement of tax matters | |
Reductions related to a lapse of applicable statute of limitations | |
Balance | $ 206,046 |
Note 15 - Commitments and Con71
Note 15 - Commitments and Contingencies (Details Textual) | 12 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017NZD | Jun. 30, 2017USD ($) | |
TOFR [Member] | ||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.55% | 0.55% | ||
MENU [Member] | ||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.65% | 0.65% | ||
Class A Share Class [Member] | ||||
Fund Expense Ratio, Maximum Threshold, Percent | 1.30% | 1.30% | ||
Class I Share Class [Member] | ||||
Fund Expense Ratio, Maximum Threshold, Percent | 0.95% | 0.95% | ||
General Security Lease Agreement [Member] | ||||
Operating Lease Arrangement, Collateral Amount | NZD 110,000 | $ 80,634 | ||
Lease Arrangement for Primary Facility [Member] | ||||
Operating Lease Arrangement, Collateral Amount | NZD 20,000 | $ 15,000 | ||
Gourmet Foods [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | ||||
Lessor, Operating Lease, Term of Contract | 3 years | |||
Lessor, Operating Lease, Renewal Term | 3 years | |||
Operating Lease, Monthly Rent | $ 11,853 | |||
Brigadier [Member] | Leased Office and Storage Facilities Located in Saskatoon, Saskatchewan [Member] | ||||
Operating Lease, Monthly Rent | 4,354 | |||
Wainwright [Member] | USCF [Member] | ||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 84,000 | $ 63,000 | ||
Wainwright [Member] | Leased Office Space in Oakland, California [Member] | ||||
Operating Leases, Rent Expense, Net | $ 146,000 | $ 139,000 | ||
USCF [Member] | ||||
Defined Contribution Plan, Minimum Age Requirement for Participation | 21 years | |||
Defined Contribution Plan, Minimum Years of Service Requirement | 1 year |
Note 15 - Commitments and Con72
Note 15 - Commitments and Contingencies - Operating Lease Future Minimum Payments (Details) | Jun. 30, 2017USD ($) |
Gourmet Foods [Member] | |
2,018 | $ 142,231 |
2,019 | 63,377 |
2,020 | 18,708 |
2,021 | 10,864 |
2,022 | 1,811 |
Total minimum lease commitment | 236,991 |
Brigadier [Member] | |
2,018 | 33,729 |
2,019 | 30,919 |
Total minimum lease commitment | 64,648 |
Wainwright [Member] | |
2,018 | 135,000 |
2,019 | 45,000 |
Total minimum lease commitment | $ 180,000 |
Note 16 - Segment Reporting (De
Note 16 - Segment Reporting (Details Textual) | 12 Months Ended |
Jun. 30, 2017 | |
Number of Reportable Segments | 4 |
Note 16 - Segment Reporting - R
Note 16 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Identifiable assets | $ 19,595,883 | $ 13,824,746 |
Corporate Segment [Member] | ||
Identifiable assets | 3,302,979 | 1,805,163 |
U.S.A Investment Fund Management [Member] | ||
Identifiable assets | 12,721,559 | 8,775,810 |
U.S.A Data Streaming [Member] | ||
Identifiable assets | 89,459 | 87,790 |
New Zealand Food Industry Segment [Member] | ||
Identifiable assets | 2,203,725 | 2,199,128 |
Canada Security Alarm Monitoring Segment [Member] | ||
Identifiable assets | $ 1,278,161 | $ 956,855 |
Note 16 - Segment Reporting -75
Note 16 - Segment Reporting - Reconciliation of Revenue by Segment (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net revenue | $ 32,011,121 | $ 27,776,780 |
Net income | 5,186,331 | 5,275,235 |
U.S.A Data Streaming [Member] | ||
Net revenue | 156,327 | 120,430 |
Net income | (25,500) | (60,612) |
U.S.A Investment Fund Management [Member] | ||
Net revenue | 23,926,065 | 23,551,395 |
Net income | 5,524,285 | 5,345,329 |
New Zealand Food Industry Segment [Member] | ||
Net revenue | 4,791,996 | 3,756,402 |
Net income | 13,983 | 214,467 |
Canada Security Alarm Monitoring Segment [Member] | ||
Net revenue | 3,136,733 | 348,553 |
Net income | 342,603 | 29,316 |
Corporate Segment [Member] | ||
Net income | $ (669,040) | $ (253,265) |
Note 16 - Segment Reporting -76
Note 16 - Segment Reporting - Reconciliation of Capital Expenditures by Segment (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Capital expenditures | $ 259,017 | $ 103,662 |
Corporate Segment [Member] | ||
Capital expenditures | 902 | |
U.S.A Data Streaming [Member] | ||
Capital expenditures | 2,690 | |
U.S.A Investment Fund Management [Member] | ||
Capital expenditures | ||
New Zealand Food Industry Segment [Member] | ||
Capital expenditures | 155,620 | 102,760 |
Canada Security Alarm Monitoring Segment [Member] | ||
Capital expenditures | $ 100,707 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Millions | Jul. 20, 2017USD ($) |
USOU [Member] | |
Seed Capital | $ 2.5 |
USOD [Member] | |
Seed Capital | $ 2.5 |