Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2019 | Nov. 13, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | CONCIERGE TECHNOLOGIES INC | |
Entity Central Index Key | 0001005101 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Series B Convertible Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 53,032 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 37,412,519 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 6,904,137 | $ 6,481,815 |
Accounts receivable, net | 875,672 | 939,649 |
Accounts receivable - related parties | 988,769 | 1,037,146 |
Inventories | 1,049,184 | 1,008,662 |
Prepaid income tax and tax receivable | 1,232,219 | 1,754,369 |
Investments | 3,775,158 | 3,756,596 |
Other current assets | 265,796 | 546,105 |
Total current assets | 15,090,935 | 15,524,342 |
Restricted cash | 12,543 | 13,437 |
Property and equipment, net | 1,299,866 | 757,014 |
Operating lease right-of-use asset | 1,005,006 | |
Goodwill | 915,790 | 915,790 |
Intangible assets, net | 2,575,156 | 2,659,723 |
Deferred tax assets, net | 859,696 | 859,696 |
Other assets, long - term | 523,607 | 523,607 |
Total assets | 22,282,599 | 21,253,608 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 2,533,875 | 2,867,081 |
Expense waivers – related parties | 213,095 | 325,821 |
Current portion operating lease liabilities | 361,996 | |
Notes payable - related parties | 3,500 | 3,500 |
Loans - property and equipment, current portion | 13,153 | 26,241 |
Total current liabilities | 3,125,619 | 3,222,643 |
LONG TERM LIABILITIES | ||
Notes payable - related parties | 600,000 | 600,000 |
Loans - property and equipment, net of current portion | 380,200 | 61,057 |
Long-term operating lease liabilities | 680,490 | |
Deferred tax liabilities | 176,578 | 176,578 |
Total long-term liabilities | 1,837,268 | 837,635 |
Total liabilities | 4,962,887 | 4,060,278 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.001 par value; 50,000,000 authorized Series B: 53,032 issued and outstanding at September 30, 2019 and at June 30, 2019 | 53 | 53 |
Common stock, $0.001 par value; 900,000,000 shares authorized; 37,412,519 shares issued and outstanding at September 30, 2019 and 37,237,519 at June 30, 2019 | 37,412 | 37,237 |
Additional paid-in capital | 9,216,204 | 9,178,838 |
Accumulated other comprehensive (loss) | (141,710) | (175,659) |
Retained earnings | 8,207,753 | 8,152,861 |
Total stockholders' equity | 17,319,712 | 17,193,330 |
Total liabilities and stockholders' equity | $ 22,282,599 | $ 21,253,608 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2019 | Jun. 30, 2019 |
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) | 37,412,519 | 37,237,519 |
Common stock, outstanding (in shares) | 37,412,519 | 37,237,519 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred stock, issued (in shares) | 53,032 | 53,032 |
Preferred stock, outstanding (in shares) | 53,032 | 53,032 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Net revenue | ||
Fund management - related party | $ 3,040,569 | $ 4,222,984 |
Net revenue | 6,027,850 | 7,176,959 |
Cost of revenue | 1,769,393 | 1,838,384 |
Gross profit | 4,258,457 | 5,338,575 |
Operating expense | ||
General and administrative expense | 1,117,149 | 1,072,932 |
Fund operations | 809,836 | 1,265,655 |
Marketing and advertising | 577,876 | 871,781 |
Depreciation and amortization | 149,663 | 174,505 |
Salaries and compensation | 1,543,022 | 1,384,982 |
Total operating expenses | 4,197,546 | 4,769,855 |
Income from operations | 60,911 | 568,720 |
Other (expense) income: | ||
Other (expense) income | 8,436 | (174,661) |
Interest and dividend income | 25,847 | 3,779 |
Interest expense | (11,005) | (8,136) |
Total other (expense) income, net | 23,278 | (179,018) |
Income before income taxes | 84,189 | 389,702 |
Provision of income taxes | 29,297 | 103,748 |
Net income | $ 54,892 | $ 285,954 |
Weighted average shares of common stock | ||
Basic (in shares) | 37,325,019 | 29,559,139 |
Diluted (in shares) | 38,385,659 | 38,298,159 |
Net income per common share | ||
Basic (in dollars per share) | $ 0 | $ 0.01 |
Diluted (in dollars per share) | $ 0 | $ 0.01 |
Food and Beverage [Member] | ||
Net revenue | ||
Revenue | $ 1,250,331 | $ 1,192,996 |
Security Alarm Monitoring [Member] | ||
Net revenue | ||
Revenue | 773,277 | 858,651 |
Beauty Products and Other [Member] | ||
Net revenue | ||
Revenue | $ 963,673 | $ 902,328 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 54,892 | $ 285,954 |
Other comprehensive income (loss): | ||
Foreign currency translation gain (loss) | 33,949 | (11,583) |
Comprehensive income | $ 88,841 | $ 274,371 |
Consolidated Statements of Conv
Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |||
Balance (in shares) at Jun. 30, 2018 | 436,951 | 29,559,139 | |||||||
Balance at Jun. 30, 2018 | $ 437 | [1] | $ 29,559 | $ 9,186,132 | $ 148,808 | $ 7,611,061 | $ 16,975,997 | ||
Gain (loss) on currency translation | (11,583) | (11,583) | |||||||
Net income | 285,954 | 285,954 | |||||||
Reclass of investment gains | (279,951) | 279,951 | |||||||
Balance (in shares) at Sep. 30, 2018 | 436,951 | 29,559,139 | |||||||
Balance at Sep. 30, 2018 | $ 437 | [1] | $ 29,559 | 9,186,132 | (142,726) | 8,176,966 | 17,250,368 | ||
Balance (in shares) at Jun. 30, 2019 | 53,032 | 37,237,519 | |||||||
Balance at Jun. 30, 2019 | $ 53 | $ 37,237 | 9,178,838 | (175,659) | 8,152,861 | 17,193,330 | |||
Gain (loss) on currency translation | 33,949 | 33,949 | |||||||
Common stock issued for services (in shares) | 175,000 | ||||||||
Common stock issued for services | $ 175 | 175 | |||||||
Common stock issued for services - earned(1) | 37,366 | [1] | 37,366 | [1] | |||||
Net income | 54,892 | 54,892 | |||||||
Balance (in shares) at Sep. 30, 2019 | 53,032 | 37,412,519 | |||||||
Balance at Sep. 30, 2019 | $ 53 | $ 37,412 | $ 9,216,204 | $ (141,710) | $ 8,207,753 | $ 17,319,712 | |||
[1] | See Shares Issued for Services contained in Note 14 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 54,892 | $ 285,954 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 149,663 | 174,505 |
Stock based vendor compensation | 37,541 | |
Unrealized (gain) loss on investments | (94) | 78,018 |
Realized (gain) on sale of investments | (84,901) | |
(Gain) on disposal of equipment | (1,979) | |
Decrease (increase) in current assets: | ||
Accounts receivable, net | 39,506 | 12,770 |
Accounts receivable - related party | 48,377 | 136,349 |
Prepaid income taxes and tax receivable | 540,808 | (57,776) |
Inventories | (67,549) | (154,928) |
Other current assets | 280,145 | 67,197 |
Increase (decrease) in current liabilities: | ||
Accounts payable and accrued expenses | (302,275) | (65,722) |
Expense waivers - related party | (112,726) | (250,911) |
Net cash provided by operating activities | 668,288 | 138,576 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash paid for acquisition of business assets | (22,500) | |
Purchase of real estate and equipment – net of disposal | (645,817) | (4,531) |
Sale of investments | 100,000 | |
Purchase of investments | (18,245) | |
Net cash provided by (used in) investing activities | (664,062) | 72,969 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Loans - real estate, property and equipment | 393,353 | |
Repayment of equipment loan | (87,298) | (88,401) |
Net cash provided by (used in) financing activities | 306,055 | (88,401) |
Effect of exchange rate change on cash and cash equivalents | 111,148 | (11,359) |
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 421,429 | 111,785 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 6,495,251 | 7,524,114 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 6,916,680 | 7,635,899 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 4,885 | |
Income taxes | 159,363 | 6,000 |
Noncash financing and investing activities: | ||
Acquisition of operating right-of-use assets through operating lease obligations | $ 1,150,916 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Concierge Technologies, Inc., (the “Company” or “Concierge”), a Nevada corporation, operates through its wholly owned subsidiaries who are engaged in varied business activities. The operations of the Company’s wholly-owned subsidiaries are more particularly described herein but are summarized as follows: ● Wainwright Holdings, Inc. (“Wainwright”), a U.S. based company, is the sole member of two ● Gourmet Foods, Ltd. (“Gourmet Foods”), a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial scale. ● Brigadier Security Systems ( 2000 ● Kahnalytics, Inc. dba/Original Sprout (“Original Sprout”), a U.S. based company, is engaged in the wholesale distribution of hair and skin care products under the brand name Original Sprout on a global scale. The former business of Kahnalytics, providing live-streaming mobile video on a subscription basis, was insignificant and was terminated after transitioning to the current business of distributing hair and skin care products. See “Note 13. Concierge manages its operating businesses on a decentralized basis. There are no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Form 10 2019 10 September 30, 2019 Principles of Consolidation The accompanying condensed consolidated financial statements, which are referred to herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Original Sprout. 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 Cash and cash equivalents include all highly liquid debt instruments with original maturities of three $250,000 CD$100,000 not Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net, consist of receivables from the Brigadier, Gourmet Foods and Original Sprout businesses. The Company does not not September 30, 2019 June 30, 2019, $0 $2,075, Accounts receivable - related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one September 30, 2019, June 30, 2019, no Major Customers and Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company who provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 52% 59% three September 30, 2019 September 30, 2018, 36% September 30, 2019 37% June 30, 2019. second 10% three September 30, 2018, no three September 30, 2019. Concierge, through Gourmet Foods, has three 1 2 3 no September 30, 2019, 21% 24% three September 30, 2018. 25% September 30, 2019 28% June 30, 2019. second 14% September 30, 2019 13% three September 30, 2018. 20% September 30, 2019 19% June 30, 2019. two three September 30, 2019, 43% 40% three September 30, 2018. No third no one Concierge, through Original Sprout, is not one no 10% may three September 30, 2019, one 15% two 15% 11% three September 30, 2018. not September 30, 2019 June 30, 2019, two not 18% 16% September 30, 2019 25% 12%, third 17% June 30, 2019. For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated three nine September 30, 2019 September 30, 2018 September 30, 2019 June 30, 2019 For the Three Months Ended September 30, 2019 For the Three Months Ended September 30, 2018 Revenue Revenue Fund USO $ 1,550,198 51 % $ 1,984,921 47 % USCI 621,049 20 % 1,253,859 30 % UNG 459,462 15 % 504,862 12 % All Others 409,860 14 % 479,342 11 % Total $ 3,040,569 100 % $ 4,222,984 100 % As of September 30, 2019 As of June 30, 2019 Accounts Receivable Accounts Receivable Fund USO $ 510,712 52 % $ 526,981 51 % USCI 177,913 18 % 236,251 23 % UNG 151,012 15 % 141,413 13 % All Others 149,132 15 % 132,501 13 % Total $ 988,769 100 % $ 1,037,146 100 % Inventories Inventories, consisting primarily of food products and packaging in New Zealand, hair and skin care finished products and components in the U.S. and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or net realizable value. Inventories include product cost, inbound freight and warehousing costs where applicable. Management compares the cost of inventories with the net realizable value and an allowance is made for writing down the inventories to their net realizable value, if lower. For the three September 30, 2019 2018 $0 $0, three September 30, 2019 September 30, 2018, $0 $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 Buildings 10 to 39 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 no three September 30, 2019 2018. 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 three September 30, 2019 2018. 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 three September 30, 2019 2018. Investments and Fair Value of Financial Instruments Short-term investments are classified as available-for-sale securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and maintenance services in Canada, and wholesale distribution of hair and skin care products. Revenue is accounted for net of sales taxes, sales returns, trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees are accrued. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of their recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. Recently Adopted Accounting Pronouncements - May 2014, July 1, 2018 July 1, 2018 not not five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Operations. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Condensed Consolidated Statements of Operations, which for the three September 30, 2019, US$208,890, 27% three September 30, 2019 3% None Because the Company has no no no Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the three September 30, 2019 2018 $0.6 $0.9 Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation Short-Term Investment Valuation In January 2016, July 1, 2018, 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 17 Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may three September 30, 2019 2018 no Recent Accounting Pronouncements In February 2016, 2016 02, 842 , 12 The Company adopted the new standard on July 1, 2019 ASU 2018 11, 842 not July 1, 2019. not not 12 Adoption of the new standard resulted in the Company recording operating lease ROU assets and operating lease liabilities of $1,113,840 $1,150,916 July 1, 2019. $37,076 June 30, 2019. not no 842 three September 30, 2019. Refer to Note 6 A summary of the effects of the initial adoption of ASU 2016 02 842 ASU 2016-02 Increase (decrease): Assets $ 1,113,840 Current portion operating lease liabilities $ 370,697 Long-term operating lease liabilities $ 780,219 Accumulated other comprehensive income $ - Retained earnings $ - The Company has reviewed new accounting pronouncements issued between September 30, 2019, 10 10 no |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Income Per Share | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3. BASIC AND DILUTED NET INCOME 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. The Company does not Diluted net income per share reflects the effects of shares actually potentially issuable upon conversion of convertible preferred stock. The components of basic and diluted earnings per share were as follows: For the Three Months Ended September 30, 2019 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 54,892 37,325,019 $ 0.00 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 54,892 38,385,659 $ 0.00 For the Three Months Ended September 30, 2018 Net Income Shares Per Share Basic income per share: Net income $ 285,954 29,559,139 $ 0.01 Effect of dilutive securities Preferred stock Series B - 8,739,020 - Diluted income per share $ 285,954 38,298,159 $ 0.01 |
Note 4 - Inventories
Note 4 - Inventories | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. INVENTORIES Inventories for Gourmet Foods, Brigadier and Original Sprout consisted of the following totals: September 30 , June 30, 2019 2019 Raw materials $ 266,091 $ 208,284 Supplies and packing materials 165,448 188,035 Finished goods 617,645 612,343 Total inventories $ 1,049,184 $ 1,008,662 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 3 Months Ended |
Sep. 30, 2019 | |
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: September 30 , 2019 June 30, 2019 Plant and equipment $ 1,422,669 $ 1,511,629 Furniture and office equipment 190,386 188,370 Vehicles 376,108 332,672 Land and building 575,082 - Total property, plant and equipment, gross 2,564,245 2,032,671 Accumulated depreciation (1,264,379 ) (1,275,657 ) Total property, plant and equipment, net $ 1,299,866 $ 757,014 For the three September 30, 2019 2018, $65,096 $89,938, |
Note 6 - Leases
Note 6 - Leases | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6. LEASES The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, accrued expenses, and long-term operating lease liabilities in the Unaudited Condensed Consolidated Balance Sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date. The operating lease right-of-use assets also include any lease payments made at or before the commencement date and are reduced by any lease incentives received. The Company’s lease terms may not not not 12 not The Company’s most significant leases are real estate leases of office, warehouse and production facilities. The remaining operating leases are primarily comprised of leases of printers and other equipment which are deemed insignificant. For all operating leases, the Company has elected the practical expedient permitted under Topic 842 not Fixed lease expense payments are recognized on a straight-line basis over the lease term. Variable lease payments vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time. Certain of the Company’s operating lease agreements include variable payments that are passed through by the landlord, such as insurance, taxes, and common area maintenance. Variable payments are deemed immaterial, expensed as incurred, and included within rent expense under general and administrative expense. The Company leases various facilities and offices throughout the world including the following subsidiary locations: Gourmet Foods has operating leases for its office, factory and warehouse facilities located in Tauranga, New Zealand, as well as for certain equipment including printers and copiers. These leases are generally for three August 2021 September 2022, US$8,068 not September 30, 2019. US$2,491 September 30, 2019. three March 1, 2021. $7,837 December 2024. $12,000 For the three September 30, 2019 2018, $96,524 $67,848, September 30, 2019 $1,005,006, $37,480 $1,042,486 Future minimum consolidated lease payments for Concierge and its subsidiaries are as follows: Year Ended June 30, Lease Amount 2020 $ 281,660 2021 349,023 2022 229,820 2023 202,079 2024 108,700 Total minimum lease payments 1,171,282 Less: present value discount (128,796 ) Total operating lease liabilities $ 1,042,486 The weighted average remaining lease term for the Company'a operating leases was 4.0 September 30, 2019 5.8% |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7. INTANGIBLE ASSETS Intangible assets consisted of the following as of: September 30, 2019 June 30, 2019 Customer relationships $ 700,252 $ 700,252 Brand name 1,142,122 1,142,122 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Total 3,375,870 3,375,870 Less : accumulated amortization (800,714 ) (716,147 ) Net intangibles $ 2,575,156 $ 2,659,723 CUSTOMER RELATIONSHIPS On August 11, 2015, $66,153 10 June 2, 2016, $434,099 10 December 18, 2017 $200,000 7 September 30, June 30, 2019 2019 Customer relationships $ 700,252 700,252 Less: accumulated amortization (223,302 ) (203,492 ) Total customer relationships, net $ 476,950 496,760 BRAND NAME On August 11, 2015, $61,429 10 June 2, 2016, $340,694 10 December 18, 2017 $740,000 may no September 30 , June 30, 2019 2019 Brand name $ 1,142,122 $ 1,142,122 Less: accumulated amortization (139,220 ) (129,084 ) Total brand name, net $ 1,002,902 $ 1,013,038 DOMAIN NAME On August 11, 2015, $21,601 5 June 2, 2016, $15,312 5 September 30 , June 30, 2019 2019 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (28,202 ) (26,341 ) Total brand name, net $ 8,711 $ 10,572 RECIPES AND FORMULAS On August 11, 2015, $21,601 5 December 18, 2017 $1,200,000 8 September 30 , June 30, 2019 2019 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (285,521 ) (246,622 ) Total recipes and formulas, net $ 936,080 $ 974,979 NON-COMPETE AGREEMENT On June 2, 2016, $84,982 5 December 18, 2017 $190,000 5 September 30, June 30, 2019 2019 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (124,470 ) (110,608 ) Total non-compete agreement, net $ 150,512 $ 164,374 AMORTIZATION EXPENSE The total amortization expense for intangible assets for the three September 30, 2019 2018 $84,567 $84,567, Estimated amortization expenses of intangible assets for the next five Years Ending June 30, Expense 2020 $ 250,942 2021 326,033 2022 306,809 2023 286,507 2024 268,809 Thereafter 1,136,056 Total $ 2,575,156 |
Note 8 - Other Assets
Note 8 - Other Assets | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 8. OTHER ASSETS Other Current Assets Other current assets totaling $265,796 September 30, 2019 $546,105 June 30, 2019 As of September 30, 2019 As of June 30, 2019 Deposits and prepaid expenses $ 229,371 $ 462,215 Other current assets 36,425 83,890 Total $ 265,796 $ 546,105 Investments Wainwright, from time to time, provides initial investments in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one no June 30, 2018 2016 01. September 30, 2019 June 30, 2019, $ 3.8 no September 30, 2019 June 30, 2019, no Investments measured at estimated fair value consist of the following as of September 30, 2019 June 30, 2019: September 30, 2019 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 3,020,323 $ - $ - $ 3,020,323 Other short term investments 753,315 - (221 ) 753,094 Other equities 3,421 - (1,680 ) 1,741 Total short-term investments $ 3,777,059 $ - $ (1,901 ) 3,775,158 June 30, 2019 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 3,005,182 $ - $ - $ 3,005,182 Other short term investments 749,988 - (739 ) 749,249 Other equities 3,421 - (1,256 ) 2,165 Total short-term investments $ 3,758,591 $ - $ (1,995 ) 3,756,596 The following tables summarize the valuation of the Company’s securities at September 30, 2019 June 30, 2019 September 30, 2019 Total Level 1 Level 2 Level 3 Money market funds $ 3,020,323 $ 3,020,323 $ - $ - Other short term investments 753,094 753,094 - - Other equities 1,741 1,741 - - Total $ 3,775,158 $ 3,775,158 $ - $ - June 30, 2019 Total Level 1 Level 2 Level 3 Money market funds $ 3,005,182 $ 3,005,182 $ - $ - Other short term investments 749,249 749,249 - - Other equities 2,165 2,165 - - Total $ 3,756,596 $ 3,756,596 $ - $ - During the three September 30, 2019 2018, no 1 2. Restricted Cash At September 30, 2019 June 30, 2019, NZ$ 20,000 US$12,543 US$13,437, one Long - Term Assets Other long term assets totaling $ 523,607 September 30, 2019 June 30, 2019, (i) $ 514,435 September 30, 2019 June 30, 2019 10% $500,980, $13,455 (ii) and $ 9,172 September 30, 2019 June 30, 2019 |
Note 9 - Goodwill
Note 9 - Goodwill | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | NOTE 9. GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in business combinations. The amounts recorded in goodwill for September 30, 2019 June 30, 2019 $ 915,790 Goodwill is comprised of the following amounts: September 30, 2019 June 30, 2019 Goodwill – Original Sprout 416,817 416,817 Goodwill – Gourmet Foods 147,628 147,628 Goodwill – Brigadier 351,345 351,345 Total $ 915,790 $ 915,790 The Company tests for goodwill impairment at each reporting unit. There was no three September 30, 2019 June 30, 2019. |
Note 10 - Accounts Payable and
Note 10 - Accounts Payable and Accrued Expenses | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 10 . ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: September 30 , 2019 June 30, 2019 Accounts payable $ 1,769,913 $ 1,720,902 Accrued interest 123,675 117,555 Taxes payable 37,175 181,563 Deferred rent - 37,076 Accrued payroll, vacation and bonus payable 330,920 345,520 Accrued expenses 272,192 464,465 Total $ 2,533,875 $ 2,867,081 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 11 . RELATED PARTY TRANSACTIONS Notes Payable - Related Parties Current related party notes payable consist of the following: September 30 , 2019 June 30, 2019 Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due) $ 3,500 $ 3,500 Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022 250,000 250,000 Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022 350,000 350,000 $ 603,500 $ 603,500 Interest expense for all related party notes for the three September 30, 2019 2018 $6,120 $6,120, Wainwright - Related Party Transactions The Funds managed by USCF and USCF Advisers are deemed by management to be related parties. The Company’s Wainwright revenues, totaling $3.0 $4.2 three September 30, 2019 2018, $1.0 September 30, 2019 June 30, 2019, $0.1 $0.1 $0 $0.1 three September 30, 2019 2018, $0.2 $0.3 September 30, 2019 June 30, 2019, 16 |
Note 12 - Loans - Real Estate a
Note 12 - Loans - Real Estate and Equipment | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 12 . LOANS - REAL ESTATE AND EQUIPMENT As of September 30, 2019, $525,000 US$401,000 July 1, 2019) 4.14% June 30, 2024. 12 September 30, 2019 $17,413 US$13,153 $503,329 US$380,200 60 September 30, 2019 June 30, 2019 twelve zero US$26,241, twelve zero US$61,057 September 30, 2019 June 30, 2019, three September 30, 2019 US$4,885 US$2,016 three September 30, 2018. |
Note 13 - Business Combinations
Note 13 - Business Combinations | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 13 . BUSINESS COMBINATIONS Acquisition of the assets of The Original Sprout, LLC Kahnalytics, Inc., a wholly owned subsidiary of Concierge Technologies domiciled in California, was founded during May 2015 two December 18, 2017, $3.5 twelve Item Amount Inventory $ 371,866 Accounts receivable 288,804 Furniture, fixtures and equipment 1,734 Pre-payments of inventory 8,775 Discount on installment payments** 64,176 Intangible assets* 2,330,000 Goodwill 416,817 Total Purchase Price $ 3,482,172 *See Note 6 **This amount represents a discount on installment payments and was charged to interest expense. On the closing date of the transaction, December 18, 2017, $982,172 $1,250,000 May 18, 2018. January 5, 2019. |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 14 . STOCKHOLDERS' EQUITY Convertible Preferred Stock Each issued Series B Voting, Convertible Preferred Stock is convertible into 20 20 February 7, 2019, 383,919 7,678,380 53,032 September 30, 2019. Shares Issued for Services On August 15, 2019 175,000 $0.001, $0.87 August 15, 2019, $152,250. 6 three September 30, 2019, $37,541 45 $37,366 175,000 not Accumulated Other Comprehensive Income (Loss) The following table presents activity for the three September 30, 2019 June 30, 2019: Balance as of July 1, 2018 $ 148,808 Foreign currency translation (loss) (44,516 ) Change in short-term investment valuation due to reclassification to earnings (279,951 ) Balance as of June 30, 2019 (175,659 ) Foreign currency translation 33,949 Balance as of September 30, 2019 $ (141,710 ) |
Note 15 - Income Taxes
Note 15 - Income Taxes | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 15 . INCOME TAXES The Company accounts for income taxes under the asset and liability method, which recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and their financial statement reported amounts, and for net operating losses and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company records a valuation allowance against deferred tax assets when it is more likely than not not not The Company accounts for uncertain tax positions in accordance with the authoritative guidance on income taxes under which the Company may not" As of September 30, 2019, $0.3 no three September 30, 2019 2018. The Company is required to make its best estimate of the annual effective tax rate for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis. The Company recorded a tax provision of $0.03 $0.1 three September 30, 2019 2018, three September 30, 2019 2018 The Company is subject to income taxes in the U.S. federal, various states, Canada and New Zealand tax jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company’s U.S. tax years 2014 2018 three four 2018 four September 30, 2019, no |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16 . COMMITMENTS AND CONTINGENCIES Lease Commitments Refer to Note 6 Additionally, 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$68,984 NZ$20,000 US$12,543 Other Agreements and Commitments USCF manages four September 30, 2019 June 30, 2019 $0.2 $0.3 no four USCF Advisers previously managed one March 21, 2019. March 21, 2019. Litigation From time to time, the Company is involved in legal proceedings arising mainly from the ordinary course of its business. Currently, there are no Retirement Plan Wainwright's wholly owned subsidiary USCF, has a 401 21 1,000 one may $32 $0 three September 30, 2019 2018, |
Note 17 - Segment Reporting
Note 17 - Segment Reporting | 3 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 17 . SEGMENT REPORTING With the acquisition of Wainwright Holdings, Gourmet Foods, Ltd., Brigadier, and the launch of the Original Sprout business unit of Kahnalytics, the Company has identified four third The following table presents a summary of identifiable assets as of September 30, 2019 June 30, 2019: September 30, 2019 June 30, 2019 Identifiable assets: Corporate headquarters $ 4,113,432 $ 2,730,805 U.S.A.: beauty products 4,079,035 3,780,278 U.S.A.: fund management 9,817,863 10,878,549 New Zealand: food industry 1,899,700 1,838,800 Canada: security systems 2,372,569 2,025,176 Consolidated total $ 22,282,599 $ 21,253,608 The following table presents a summary of operating information for the three September 30: 2019 2018 Revenues from unaffiliated customers: U.S.A. : beauty products $ 963,673 $ 902,328 U.S.A. : investment fund management 3,040,569 4,222,984 New Zealand : food industry 1,250,331 1,192,996 Canada : security systems 773,277 858,651 Consolidated total $ 6,027,850 $ 7,176,959 Net (loss) income: Corporate headquarters $ (438,258 ) $ (392,912 ) U.S.A. : beauty products 80,914 108,391 U.S.A. : investment fund management 208,538 414,266 New Zealand : food industry 101,253 13,664 Canada : security systems 102,445 142,545 Consolidated total $ 54,892 $ 285,954 The following table presents a summary of net capital expenditures for the three September 30: 2019 2018 Capital Expenditures U.S.A.: corporate headquarters $ - $ - U.S.A.: beauty products 2,995 1,386 U.S.A.: fund management - - New Zealand: food industry 33,376 13,030 Canada: security systems 609,446 (12,836 ) Consolidated $ 645,817 $ 1,580 The following table represents the property, plant and equipment in use at each of the Company's locations as of September 30, 2019 June 30, 2019: As of September 30 , 2019 As of June 30, 2019 Asset Location Corporate headquarters $ 14,305 $ 14,305 U.S.A. : beauty products 13,739 10,745 U.S.A. : investment fund management - - New Zealand : food industry 1,582,168 1,659,186 Canada : security systems 954,033 348,435 Total All Locations 2,564,245 2,032,671 Less accumulated depreciation (1,264,379 ) (1,275,657 ) Net property, plant and equipment $ 1,299,866 $ 757,014 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Accounting Principles The Company has prepared the accompanying financial statements on a consolidated basis. In the opinion of management, the accompanying consolidated balance sheets and related statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation, prepared on an accrual basis, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Form 10 2019 10 September 30, 2019 |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying condensed consolidated financial statements, which are referred to herein as the “Financial Statements” include the accounts of Concierge and its wholly owned subsidiaries, Wainwright, Gourmet Foods, Brigadier and Original Sprout. 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 Cash and cash equivalents include all highly liquid debt instruments with original maturities of three $250,000 CD$100,000 not |
Premiums Receivable, Allowance for Doubtful Accounts, Estimation Methodology, Policy [Policy Text Block] | Accounts Receivable, net and Accounts Receivable - Related Parties Accounts receivable, net, consist of receivables from the Brigadier, Gourmet Foods and Original Sprout businesses. The Company does not not September 30, 2019 June 30, 2019, $0 $2,075, Accounts receivable - related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one September 30, 2019, June 30, 2019, no |
Major Customers, Policy [Policy Text Block] | Major Customers and Suppliers – Concentration of Credit Risk Concierge, through Brigadier, is partially dependent upon its contractual relationship with the alarm monitoring company who provides monitoring services to Brigadier’s customers. In the event this contract is terminated, Brigadier would be compelled to find an alternate source of alarm monitoring, or establish such a facility itself. Management believes that the contractual relationship is sustainable, and has been for many years, with alternate solutions available should the need arise. Sales to the largest customer, which includes contracts and recurring monthly support fees, totaled 52% 59% three September 30, 2019 September 30, 2018, 36% September 30, 2019 37% June 30, 2019. second 10% three September 30, 2018, no three September 30, 2019. Concierge, through Gourmet Foods, has three 1 2 3 no September 30, 2019, 21% 24% three September 30, 2018. 25% September 30, 2019 28% June 30, 2019. second 14% September 30, 2019 13% three September 30, 2018. 20% September 30, 2019 19% June 30, 2019. two three September 30, 2019, 43% 40% three September 30, 2018. No third no one Concierge, through Original Sprout, is not one no 10% may three September 30, 2019, one 15% two 15% 11% three September 30, 2018. not September 30, 2019 June 30, 2019, two not 18% 16% September 30, 2019 25% 12%, third 17% June 30, 2019. For our subsidiary, Wainwright, the concentration of risk and the relative reliance on major customers are found within the various funds it manages and the associated three nine September 30, 2019 September 30, 2018 September 30, 2019 June 30, 2019 For the Three Months Ended September 30, 2019 For the Three Months Ended September 30, 2018 Revenue Revenue Fund USO $ 1,550,198 51 % $ 1,984,921 47 % USCI 621,049 20 % 1,253,859 30 % UNG 459,462 15 % 504,862 12 % All Others 409,860 14 % 479,342 11 % Total $ 3,040,569 100 % $ 4,222,984 100 % As of September 30, 2019 As of June 30, 2019 Accounts Receivable Accounts Receivable Fund USO $ 510,712 52 % $ 526,981 51 % USCI 177,913 18 % 236,251 23 % UNG 151,012 15 % 141,413 13 % All Others 149,132 15 % 132,501 13 % Total $ 988,769 100 % $ 1,037,146 100 % |
Inventory, Policy [Policy Text Block] | Inventories Inventories, consisting primarily of food products and packaging in New Zealand, hair and skin care finished products and components in the U.S. and security system hardware in Canada, are valued at the lower of cost (determined on a FIFO basis) or net realizable value. Inventories include product cost, inbound freight and warehousing costs where applicable. Management compares the cost of inventories with the net realizable value and an allowance is made for writing down the inventories to their net realizable value, if lower. For the three September 30, 2019 2018 $0 $0, three September 30, 2019 September 30, 2018, $0 $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 Buildings 10 to 39 |
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 no three September 30, 2019 2018. |
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 three September 30, 2019 2018. |
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 three September 30, 2019 2018. |
Investments and Fair Value of Financial Instruments, Policy [Policy Text Block] | Investments and Fair Value of Financial Instruments Short-term investments are classified as available-for-sale securities. The Company measures the investments at fair value at period end with any changes in fair value reflected as unrealized gains or (losses) which is included as part of other (expense) income. The Company values its investments in accordance with Accounting Standards Codification ("ASC") 820 820” 820 820 820 1 2 three 820 Level 1 Level 2 1 2 not Level 3 not In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. |
Revenue [Policy Text Block] | Revenue Recognition Revenue consists of fees earned through management of investment funds, sale of gourmet meat pies and related bakery confections in New Zealand, security alarm system installation and maintenance services in Canada, and wholesale distribution of hair and skin care products. Revenue is accounted for net of sales taxes, sales returns, trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees are accrued. For our Brigadier subsidiary in Canada, the Company operates under contract with an alarm monitoring company that pays a percentage of their recurring monitoring fee to Brigadier in exchange for continued customer service and support functions with respect to each customer maintained under contract by the monitoring company. Recently Adopted Accounting Pronouncements - May 2014, July 1, 2018 July 1, 2018 not not five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Consolidated Statements of Operations. Revenue associated with customer support services is recognized as those services are provided, and is included as a component of security system revenue in the Condensed Consolidated Statements of Operations, which for the three September 30, 2019, US$208,890, 27% three September 30, 2019 3% None Because the Company has no no no |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 |
Advertising Cost [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the three September 30, 2019 2018 $0.6 $0.9 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation Short-Term Investment Valuation In January 2016, July 1, 2018, 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 17 |
Business Combinations Policy [Policy Text Block] | Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may three September 30, 2019 2018 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In February 2016, 2016 02, 842 , 12 The Company adopted the new standard on July 1, 2019 ASU 2018 11, 842 not July 1, 2019. not not 12 Adoption of the new standard resulted in the Company recording operating lease ROU assets and operating lease liabilities of $1,113,840 $1,150,916 July 1, 2019. $37,076 June 30, 2019. not no 842 three September 30, 2019. Refer to Note 6 A summary of the effects of the initial adoption of ASU 2016 02 842 ASU 2016-02 Increase (decrease): Assets $ 1,113,840 Current portion operating lease liabilities $ 370,697 Long-term operating lease liabilities $ 780,219 Accumulated other comprehensive income $ - Retained earnings $ - The Company has reviewed new accounting pronouncements issued between September 30, 2019, 10 10 no |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Three Months Ended September 30, 2019 For the Three Months Ended September 30, 2018 Revenue Revenue Fund USO $ 1,550,198 51 % $ 1,984,921 47 % USCI 621,049 20 % 1,253,859 30 % UNG 459,462 15 % 504,862 12 % All Others 409,860 14 % 479,342 11 % Total $ 3,040,569 100 % $ 4,222,984 100 % As of September 30, 2019 As of June 30, 2019 Accounts Receivable Accounts Receivable Fund USO $ 510,712 52 % $ 526,981 51 % USCI 177,913 18 % 236,251 23 % UNG 151,012 15 % 141,413 13 % All Others 149,132 15 % 132,501 13 % Total $ 988,769 100 % $ 1,037,146 100 % |
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 Buildings 10 to 39 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | ASU 2016-02 Increase (decrease): Assets $ 1,113,840 Current portion operating lease liabilities $ 370,697 Long-term operating lease liabilities $ 780,219 Accumulated other comprehensive income $ - Retained earnings $ - |
Note 3 - Basic and Diluted Ne_2
Note 3 - Basic and Diluted Net Income Per Share (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, 2019 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 54,892 37,325,019 $ 0.00 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 54,892 38,385,659 $ 0.00 For the Three Months Ended September 30, 2018 Net Income Shares Per Share Basic income per share: Net income $ 285,954 29,559,139 $ 0.01 Effect of dilutive securities Preferred stock Series B - 8,739,020 - Diluted income per share $ 285,954 38,298,159 $ 0.01 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30 , June 30, 2019 2019 Raw materials $ 266,091 $ 208,284 Supplies and packing materials 165,448 188,035 Finished goods 617,645 612,343 Total inventories $ 1,049,184 $ 1,008,662 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30 , 2019 June 30, 2019 Plant and equipment $ 1,422,669 $ 1,511,629 Furniture and office equipment 190,386 188,370 Vehicles 376,108 332,672 Land and building 575,082 - Total property, plant and equipment, gross 2,564,245 2,032,671 Accumulated depreciation (1,264,379 ) (1,275,657 ) Total property, plant and equipment, net $ 1,299,866 $ 757,014 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ended June 30, Lease Amount 2020 $ 281,660 2021 349,023 2022 229,820 2023 202,079 2024 108,700 Total minimum lease payments 1,171,282 Less: present value discount (128,796 ) Total operating lease liabilities $ 1,042,486 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | September 30, 2019 June 30, 2019 Customer relationships $ 700,252 $ 700,252 Brand name 1,142,122 1,142,122 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Total 3,375,870 3,375,870 Less : accumulated amortization (800,714 ) (716,147 ) Net intangibles $ 2,575,156 $ 2,659,723 September 30, June 30, 2019 2019 Customer relationships $ 700,252 700,252 Less: accumulated amortization (223,302 ) (203,492 ) Total customer relationships, net $ 476,950 496,760 September 30 , June 30, 2019 2019 Brand name $ 1,142,122 $ 1,142,122 Less: accumulated amortization (139,220 ) (129,084 ) Total brand name, net $ 1,002,902 $ 1,013,038 September 30 , June 30, 2019 2019 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (28,202 ) (26,341 ) Total brand name, net $ 8,711 $ 10,572 September 30 , June 30, 2019 2019 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (285,521 ) (246,622 ) Total recipes and formulas, net $ 936,080 $ 974,979 September 30, June 30, 2019 2019 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (124,470 ) (110,608 ) Total non-compete agreement, net $ 150,512 $ 164,374 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, Expense 2020 $ 250,942 2021 326,033 2022 306,809 2023 286,507 2024 268,809 Thereafter 1,136,056 Total $ 2,575,156 |
Note 8 - Other Assets (Tables)
Note 8 - Other Assets (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | As of September 30, 2019 As of June 30, 2019 Deposits and prepaid expenses $ 229,371 $ 462,215 Other current assets 36,425 83,890 Total $ 265,796 $ 546,105 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2019 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 3,020,323 $ - $ - $ 3,020,323 Other short term investments 753,315 - (221 ) 753,094 Other equities 3,421 - (1,680 ) 1,741 Total short-term investments $ 3,777,059 $ - $ (1,901 ) 3,775,158 June 30, 2019 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 3,005,182 $ - $ - $ 3,005,182 Other short term investments 749,988 - (739 ) 749,249 Other equities 3,421 - (1,256 ) 2,165 Total short-term investments $ 3,758,591 $ - $ (1,995 ) 3,756,596 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2019 Total Level 1 Level 2 Level 3 Money market funds $ 3,020,323 $ 3,020,323 $ - $ - Other short term investments 753,094 753,094 - - Other equities 1,741 1,741 - - Total $ 3,775,158 $ 3,775,158 $ - $ - June 30, 2019 Total Level 1 Level 2 Level 3 Money market funds $ 3,005,182 $ 3,005,182 $ - $ - Other short term investments 749,249 749,249 - - Other equities 2,165 2,165 - - Total $ 3,756,596 $ 3,756,596 $ - $ - |
Note 9 - Goodwill (Tables)
Note 9 - Goodwill (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | September 30, 2019 June 30, 2019 Goodwill – Original Sprout 416,817 416,817 Goodwill – Gourmet Foods 147,628 147,628 Goodwill – Brigadier 351,345 351,345 Total $ 915,790 $ 915,790 |
Note 10 - Accounts Payable an_2
Note 10 - Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | September 30 , 2019 June 30, 2019 Accounts payable $ 1,769,913 $ 1,720,902 Accrued interest 123,675 117,555 Taxes payable 37,175 181,563 Deferred rent - 37,076 Accrued payroll, vacation and bonus payable 330,920 345,520 Accrued expenses 272,192 464,465 Total $ 2,533,875 $ 2,867,081 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30 , 2019 June 30, 2019 Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due) $ 3,500 $ 3,500 Notes payable to shareholder, interest rate of 4%, unsecured and payable on May 25, 2022 250,000 250,000 Notes payable to shareholder, interest rate of 4%, unsecured and payable on April 8, 2022 350,000 350,000 $ 603,500 $ 603,500 |
Note 13 - Business Combinatio_2
Note 13 - Business Combinations (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Item Amount Inventory $ 371,866 Accounts receivable 288,804 Furniture, fixtures and equipment 1,734 Pre-payments of inventory 8,775 Discount on installment payments** 64,176 Intangible assets* 2,330,000 Goodwill 416,817 Total Purchase Price $ 3,482,172 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Balance as of July 1, 2018 $ 148,808 Foreign currency translation (loss) (44,516 ) Change in short-term investment valuation due to reclassification to earnings (279,951 ) Balance as of June 30, 2019 (175,659 ) Foreign currency translation 33,949 Balance as of September 30, 2019 $ (141,710 ) |
Note 17 - Segment Reporting (Ta
Note 17 - Segment Reporting (Tables) | 3 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, 2019 June 30, 2019 Identifiable assets: Corporate headquarters $ 4,113,432 $ 2,730,805 U.S.A.: beauty products 4,079,035 3,780,278 U.S.A.: fund management 9,817,863 10,878,549 New Zealand: food industry 1,899,700 1,838,800 Canada: security systems 2,372,569 2,025,176 Consolidated total $ 22,282,599 $ 21,253,608 As of September 30 , 2019 As of June 30, 2019 Asset Location Corporate headquarters $ 14,305 $ 14,305 U.S.A. : beauty products 13,739 10,745 U.S.A. : investment fund management - - New Zealand : food industry 1,582,168 1,659,186 Canada : security systems 954,033 348,435 Total All Locations 2,564,245 2,032,671 Less accumulated depreciation (1,264,379 ) (1,275,657 ) Net property, plant and equipment $ 1,299,866 $ 757,014 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | 2019 2018 Revenues from unaffiliated customers: U.S.A. : beauty products $ 963,673 $ 902,328 U.S.A. : investment fund management 3,040,569 4,222,984 New Zealand : food industry 1,250,331 1,192,996 Canada : security systems 773,277 858,651 Consolidated total $ 6,027,850 $ 7,176,959 Net (loss) income: Corporate headquarters $ (438,258 ) $ (392,912 ) U.S.A. : beauty products 80,914 108,391 U.S.A. : investment fund management 208,538 414,266 New Zealand : food industry 101,253 13,664 Canada : security systems 102,445 142,545 Consolidated total $ 54,892 $ 285,954 2019 2018 Capital Expenditures U.S.A.: corporate headquarters $ - $ - U.S.A.: beauty products 2,995 1,386 U.S.A.: fund management - - New Zealand: food industry 33,376 13,030 Canada: security systems 609,446 (12,836 ) Consolidated $ 645,817 $ 1,580 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jul. 01, 2019USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 2,075 | ||
Allowance for Doubtful Accounts Receivable. Related Parties | 0 | 0 | ||
Asset Impairment Charges, Total | 0 | $ 0 | ||
Inventory Write-down | 0 | 0 | ||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | ||
Goodwill, Impairment Loss | 0 | 0 | 0 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | ||
Advertising Expense | 600,000 | $ 900,000 | ||
Operating Lease, Right-of-Use Asset | 1,005,006 | |||
Operating Lease, Liability, Total | 1,042,486 | |||
Lessee, Operating Lease, Deferred Rent | 37,480 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 1,113,840 | |||
Operating Lease, Liability, Total | 1,150,916 | |||
Lessee, Operating Lease, Deferred Rent | $ 37,076 | |||
Security Alarm Monitoring Customer Support Services [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 208,890 | |||
Percentage of Total Revenue from Services Under Contract Recognized As Provided | 27.00% | |||
Percentage of Consolidated Revenue from Services Under Contract, Recognized As Provided | 3.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Brigadier [Member] | ||||
Concentration Risk, Percentage | 52.00% | 59.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Brigadier [Member] | Major Customer 1 [Member] | ||||
Concentration Risk, Percentage | 10.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||
Concentration Risk, Percentage | 21.00% | 24.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | ||||
Concentration Risk, Percentage | 43.00% | 40.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||
Concentration Risk, Percentage | 14.00% | 13.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Brigadier [Member] | ||||
Concentration Risk, Percentage | 36.00% | 37.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Grocery Industry [Member] | ||||
Number of Major Customers | 0 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Independent Retailers Sector [Member] | ||||
Number of Major Customers | 0 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | ||||
Concentration Risk, Percentage | 25.00% | 28.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | ||||
Concentration Risk, Percentage | 20.00% | 19.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | The Original Sprout LLC [Member] | ||||
Concentration Risk, Percentage | 15.00% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | The Original Sprout LLC [Member] | Major Customer 1 [Member] | ||||
Concentration Risk, Percentage | 18.00% | 15.00% | 25.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | The Original Sprout LLC [Member] | Major Customer 2 [Member] | ||||
Concentration Risk, Percentage | 16.00% | 11.00% | 12.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | The Original Sprout LLC [Member] | Major Customer 3 [Member] | ||||
Concentration Risk, Percentage | 17.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | |
Revenue, related parties | $ 3,040,569 | $ 4,222,984 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | |||
Revenue, related parties | $ 3,040,569 | $ 4,222,984 | |
Concentration risk percentage | 100.00% | 100.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||
Revenue, related parties | $ 1,550,198 | $ 1,984,921 | |
Concentration risk percentage | 51.00% | 47.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||
Revenue, related parties | $ 621,049 | $ 1,253,859 | |
Concentration risk percentage | 20.00% | 30.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||
Revenue, related parties | $ 459,462 | $ 504,862 | |
Concentration risk percentage | 15.00% | 12.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | All Other Customers [Member] | |||
Revenue, related parties | $ 409,860 | $ 479,342 | |
Concentration risk percentage | 14.00% | 11.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | |||
Revenue, related parties | $ 988,769 | $ 1,037,146 | |
Concentration risk percentage | 100.00% | 100.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | |||
Revenue, related parties | $ 510,712 | $ 526,981 | |
Concentration risk percentage | 52.00% | 51.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | |||
Revenue, related parties | $ 177,913 | $ 236,251 | |
Concentration risk percentage | 18.00% | 23.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | |||
Revenue, related parties | $ 151,012 | $ 141,413 | |
Concentration risk percentage | 15.00% | 13.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | |||
Revenue, related parties | $ 149,132 | $ 132,501 | |
Concentration risk percentage | 15.00% | 13.00% |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 3 Months Ended |
Sep. 30, 2019 | |
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 |
Minimum [Member] | Building [Member] | |
Property, plant, and equipment, useful life (Year) | 10 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 |
Maximum [Member] | Building [Member] | |
Property, plant, and equipment, useful life (Year) | 39 years |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Effects of Initial Adoption (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 | Jan. 01, 2019 |
Assets | $ 22,282,599 | $ 21,253,608 | |
Current portion operating lease liabilities | 361,996 | ||
Long-term operating lease liabilities | 680,490 | ||
Accumulated other comprehensive income | (141,710) | (175,659) | |
Retained earnings | $ 8,207,753 | $ 8,152,861 | |
Accounting Standards Update 2016-02 [Member] | |||
Assets | $ 1,113,840 | ||
Current portion operating lease liabilities | 370,697 | ||
Long-term operating lease liabilities | 780,219 | ||
Accumulated other comprehensive income | |||
Retained earnings |
Note 3 - Basic and Diluted Ne_3
Note 3 - Basic and Diluted Net Income Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Net income (loss) available to common shareholders, basic | $ 54,892 | $ 285,954 |
Shares, basic (in shares) | 37,325,019 | 29,559,139 |
Basic (in dollars per share) | $ 0 | $ 0.01 |
Effect of dilutive securities, shares (in shares) | 1,060,640 | 8,739,020 |
Effect of dilutive securities, per share (in dollars per share) | ||
Net income (loss) available to common shareholders, diluted | $ 54,892 | $ 285,954 |
Shares, diluted (in shares) | 38,385,659 | 38,298,159 |
Diluted (in dollars per share) | $ 0 | $ 0.01 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Raw materials | $ 266,091 | $ 208,284 |
Supplies and packing materials | 165,448 | 188,035 |
Finished goods | 617,645 | 612,343 |
Total inventories | $ 1,049,184 | $ 1,008,662 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Depreciation, Total | $ 65,096 | $ 89,938 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Property and Equipment Summary (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Plant and equipment, gross | $ 2,564,245 | $ 2,032,671 |
Accumulated depreciation | (1,264,379) | (1,275,657) |
Total property, plant and equipment, net | 1,299,866 | 757,014 |
Plant and Equipment [Member] | ||
Plant and equipment, gross | 1,422,669 | 1,511,629 |
Furniture and Fixtures [Member] | ||
Plant and equipment, gross | 190,386 | 188,370 |
Vehicles [Member] | ||
Plant and equipment, gross | 376,108 | 332,672 |
Building [Member] | ||
Plant and equipment, gross | $ 575,082 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | |
Operating Lease, Expense | $ 96,524 | $ 67,848 | |
Operating Lease, Right-of-Use Asset | 1,005,006 | ||
Lessee, Operating Lease, Deferred Rent | 37,480 | ||
Operating Lease, Liability, Total | $ 1,042,486 | ||
Operating Lease, Weighted Average Remaining Lease Term | 4 years | ||
Operating Lease, Weighted Average Discount Rate, Percent | 5.80% | ||
Gourmet Foods [Member] | |||
Lessee, Operating Lease, Term of Contract | 3 years | ||
Lessee, Operating Lease, Monthly Payment | $ 8,068 | ||
Brigadier [Member] | |||
Lessee, Operating Lease, Monthly Payment | $ 2,491 | ||
The Original Sprout LLC [Member] | |||
Lessee, Operating Lease, Term of Contract | 3 years | ||
Lessee, Operating Lease, Monthly Payment | $ 7,837 | ||
Wainwright [Member] | |||
Lessee, Operating Lease, Monthly Payment | $ 12,000 |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Consolidated Lease Payments (Details) | Sep. 30, 2019USD ($) |
2020 | $ 281,660 |
2021 | 349,023 |
2022 | 229,820 |
2023 | 202,079 |
2024 | 108,700 |
Total minimum lease payments | 1,171,282 |
Less: present value discount | (128,796) |
Total operating lease liabilities | $ 1,042,486 |
Note 7 - Intangible Assets (Det
Note 7 - Intangible Assets (Details Textual) - USD ($) | Dec. 18, 2017 | Jun. 02, 2016 | Aug. 11, 2015 | Sep. 30, 2019 | Sep. 30, 2018 |
Amortization of Intangible Assets, Total | $ 84,567 | $ 84,567 | |||
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 | ||||
The Original Sprout LLC [Member] | Customer Relationships [Member] | Kahnalytics [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 200,000 | ||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years | ||||
The Original Sprout LLC [Member] | Brand Name [Member] | Kahnalytics [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 740,000 | ||||
The Original Sprout LLC [Member] | Recipes [Member] | Kahnalytics [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 1,200,000 | ||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 8 years | ||||
The Original Sprout LLC [Member] | Noncompete Agreements [Member] | Kahnalytics [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 190,000 | ||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years |
Note 7 - Intangible Assets - Su
Note 7 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Finite-lived intangible assets, gross | $ 3,375,870 | $ 3,375,870 |
Less : accumulated amortization | (800,714) | (716,147) |
Net intangibles | 2,575,156 | 2,659,723 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | 700,252 | 700,252 |
Less : accumulated amortization | (223,302) | (203,492) |
Net intangibles | 476,950 | 496,760 |
Brand Name [Member] | ||
Finite-lived intangible assets, gross | 1,142,122 | 1,142,122 |
Less : accumulated amortization | (139,220) | (129,084) |
Net intangibles | 1,002,902 | 1,013,038 |
Domain Name [Member] | ||
Finite-lived intangible assets, gross | 36,913 | 36,913 |
Less : accumulated amortization | (28,202) | (26,341) |
Net intangibles | 8,711 | 10,572 |
Recipes [Member] | ||
Finite-lived intangible assets, gross | 1,221,601 | 1,221,601 |
Less : accumulated amortization | (285,521) | (246,622) |
Net intangibles | 936,080 | 974,979 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | 274,982 | 274,982 |
Less : accumulated amortization | (124,470) | (110,608) |
Net intangibles | $ 150,512 | $ 164,374 |
Note 7 - Intangible Assets - Sc
Note 7 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
2020 | $ 250,942 | |
2021 | 326,033 | |
2022 | 306,809 | |
2023 | 286,507 | |
2024 | 268,809 | |
Thereafter | 1,136,056 | |
Net intangibles | $ 2,575,156 | $ 2,659,723 |
Note 8 - Other Assets (Details
Note 8 - Other Assets (Details Textual) | Sep. 30, 2019NZD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019NZD ($) | Jun. 30, 2019USD ($) |
Other Assets, Current | $ 265,796 | $ 546,105 | ||
Available-for-sale Securities, Total | 3,800,000 | 3,800,000 | ||
Restricted Cash and Cash Equivalents, Total | $ 20,000 | 12,543 | $ 20,000 | 13,437 |
Other Assets, Noncurrent, Total | 523,607 | 523,607 | ||
Wainwright [Member] | ||||
Assets, Noncurrent, Total | 523,607 | 523,607 | ||
Cost Method Investments | $ 514,435 | 514,435 | ||
Cost Method Investment, Ownership Percentage | 10.00% | 10.00% | ||
Other Assets, Noncurrent, Total | $ 500,980 | 13,455 | ||
Deposit Assets, Total | $ 9,172 | $ 9,172 |
Note 8 - Other Assets - Compone
Note 8 - Other Assets - Components of Other Current Assets (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Deposits and prepaid expenses | $ 229,371 | $ 462,215 |
Other current assets | 36,425 | 83,890 |
Total | $ 265,796 | $ 546,105 |
Note 8 - Other Assets - Investm
Note 8 - Other Assets - Investments (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Investments, cost | $ 3,777,059 | $ 3,758,591 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (1,901) | (1,995) |
Investments | 3,775,158 | 3,756,596 |
Money Market Funds [Member] | ||
Investments, cost | 3,020,323 | 3,005,182 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | ||
Investments | 3,020,323 | 3,005,182 |
Other Short Term Investments [Member] | ||
Investments, cost | 753,315 | 749,988 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (221) | (739) |
Investments | 753,094 | 749,249 |
Other Equities [Member] | ||
Investments, cost | 3,421 | 3,421 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (1,680) | (1,256) |
Investments | $ 1,741 | $ 2,165 |
Note 8 - Other Assets - Fair Va
Note 8 - Other Assets - Fair Value Measurement of Securities (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Investments | $ 3,775,158 | $ 3,756,596 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments | 3,775,158 | 3,756,596 |
Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Money Market Funds [Member] | ||
Investments | 3,020,323 | 3,005,182 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 3,020,323 | 3,005,182 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Other Short Term Investments [Member] | ||
Investments | 753,094 | 749,249 |
Other Short Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 753,094 | 749,249 |
Other Short Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Other Short Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments | ||
Other Equities [Member] | ||
Investments | 1,741 | 2,165 |
Other Equities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investments | 1,741 | 2,165 |
Other Equities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investments | ||
Other Equities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investments |
Note 9 - Goodwill (Details Text
Note 9 - Goodwill (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | |
Goodwill, Ending Balance | $ 915,790 | $ 915,790 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Note 9 - Goodwill - Summary of
Note 9 - Goodwill - Summary of Goodwill (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Goodwill | $ 915,790 | $ 915,790 |
The Original Sprout LLC [Member] | ||
Goodwill, gross | 416,817 | 416,817 |
Gourmet Foods [Member] | ||
Goodwill, gross | 147,628 | 147,628 |
Brigadier [Member] | ||
Goodwill, gross | $ 351,345 | $ 351,345 |
Note 10 - Accounts Payable an_3
Note 10 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Accounts payable | $ 1,769,913 | $ 1,720,902 |
Accrued interest | 123,675 | 117,555 |
Taxes payable | 37,175 | 181,563 |
Deferred rent | 37,076 | |
Accrued payroll, vacation and bonus payable | 330,920 | 345,520 |
Accrued expenses | 272,192 | 464,465 |
Total | $ 2,533,875 | $ 2,867,081 |
Note 11 - Related Party Trans_3
Note 11 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest Expense, Related Party | $ 6,120 | $ 6,120 | ||
Revenue from Related Parties | 3,040,569 | 4,222,984 | ||
Accounts Receivable, Related Parties | 1,000,000 | $ 1,000,000 | ||
Expense Waiver Funds, Related Party | 100,000 | 100,000 | ||
Fund Expense Limitation Amount, Related Party | 0 | $ 100,000 | ||
Waivers Payable, Related Party | $ 200,000 | $ 300,000 |
Note 11 - Related Party Trans_4
Note 11 - Related Party Transactions - Notes Payable (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Notes payable | $ 603,500 | $ 603,500 |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable | 3,500 | 3,500 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable | 250,000 | 250,000 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable | $ 350,000 | $ 350,000 |
Note 11 - Related Party Trans_5
Note 11 - Related Party Transactions - Notes Payable (Details) (Parentheticals) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Jun. 30, 2019 | |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable, interest rate | 8.00% | 8.00% |
Notes payable, maturity date | Dec. 31, 2012 | Dec. 31, 2012 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | May 25, 2022 | May 25, 2022 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | Apr. 8, 2022 | Apr. 8, 2022 |
Note 12 - Loans - Real Estate_2
Note 12 - Loans - Real Estate and Equipment (Details Textual) | 3 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019CAD ($) | Jun. 30, 2019USD ($) | |
Notes Payable, Current, Total | $ 13,153 | $ 26,241 | ||
Notes Payable, Noncurrent, Total | 380,200 | 61,057 | ||
Interest Expense, Debt, Total | 4,885 | $ 2,016 | ||
Note Payable on Office Land and Building [Member] | ||||
Notes Payable, Total | $ 401,000 | $ 525,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.14% | 4.14% | ||
Notes Payable, Current, Total | $ 13,153 | $ 17,413 | ||
Notes Payable, Noncurrent, Total | 380,200 | $ 503,329 | ||
Note Payable on Vehicle [Member] | ||||
Notes Payable, Current, Total | 0 | 26,241 | ||
Notes Payable, Noncurrent, Total | $ 0 | $ 61,057 |
Note 13 - Business Combinatio_3
Note 13 - Business Combinations (Details Textual) - Kahnalytics [Member] - The Original Sprout LLC [Member] | Dec. 18, 2017USD ($) |
Business Combination, Consideration Transferred, Total | $ 3,500,000 |
Payments to Acquire Businesses, Gross | 982,172 |
Other Payments to Acquire Businesses | $ 1,250,000 |
Note 13 - Business Combinatio_4
Note 13 - Business Combinations - Acquisition of the Assets of The Original Sprout, LLC (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 18, 2017 | |
Goodwill | $ 915,790 | $ 915,790 | ||
Kahnalytics [Member] | The Original Sprout LLC [Member] | ||||
Inventory | $ 371,866 | |||
Accounts receivable | 288,804 | |||
Furniture, fixtures and equipment | 1,734 | |||
Pre-payments of inventory | 8,775 | |||
Discount on installment payments** | [1] | 64,176 | ||
Intangible assets* | [2] | 2,330,000 | ||
Goodwill | 416,817 | |||
Total Purchase Price | $ 3,482,172 | |||
[1] | This amount represents a discount on installment payments and was charged to interest expense. | |||
[2] | See Note 6 for further detail of intangible assets acquired. |
Note 14 - Stockholders' Equit_2
Note 14 - Stockholders' Equity (Details Textual) - USD ($) | Aug. 15, 2019 | Feb. 07, 2019 | Sep. 30, 2019 | Jun. 30, 2019 |
Conversion of Stock, Shares Issued | 7,678,380 | |||
Stock Issued During Period, Shares, Issued for Services | 175,000 | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |
Share Price | $ 0.87 | |||
Stock Issued During Period, Value, Issued for Services | $ 152,250 | $ 175 | ||
Share-based Payment Arrangement, Expense | 37,541 | |||
Stock Issued During Period, Additional Shares, Issued for Services | 175,000 | |||
Other Current Assets [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 37,366 | |||
Series B Convertible Preferred Stock [Member] | ||||
Convertible Preferred Stock, Shares Issued upon Conversion | 20 | |||
Conversion of Stock, Shares Converted | 383,919 | |||
Preferred Stock, Shares Outstanding, Ending Balance | 53,032 |
Note 14 - Stockholders' Equit_3
Note 14 - Stockholders' Equity - Summary of Accumulated Other Comprehensive Income (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | |
Balance | $ (175,659) | ||
Foreign currency translation (loss) | 33,949 | $ (11,583) | |
Balance | (141,710) | $ (175,659) | |
AOCI Attributable to Parent [Member] | |||
Balance | (175,659) | $ 148,808 | 148,808 |
Foreign currency translation (loss) | 33,949 | (44,516) | |
Change in short-term investment valuation due to reclassification to earnings | (279,951) | ||
Balance | $ (141,710) | $ (175,659) |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Unrecognized Tax Benefits, Ending Balance | $ 300,000 | $ 300,000 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | $ 0 | $ 0 | $ 0 |
Income Tax Expense (Benefit), Total | $ 29,297 | $ 103,748 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2014 2015 2016 2017 2018 | |||
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||||
Open Tax Year | 2014 2015 2016 2017 2018 | |||
Foreign Tax Authority [Member] | New Zealand Revenue Agency [Member] | ||||
Open Tax Year | 2014 2015 2016 2017 2018 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Details Textual) | 3 Months Ended | ||||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019NZD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | |
Expense Waivers | $ 213,095 | $ 325,821 | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 32,000 | $ 0 | |||
USCF [Member] | |||||
Defined Contribution Plan, Minimum Age Requirement for Participation | 21 years | ||||
Defined Contribution Plan, Minimum Years of Service Requirement | 1 year | ||||
General Security Lease Agreement [Member] | |||||
Operating Lease Arrangement, Collateral Amount | $ 110,000 | 68,984 | |||
Lease Arrangement for Primary Facility [Member] | |||||
Operating Lease Arrangement, Collateral Amount | $ 20,000 | $ 12,543 |
Note 17 - Segment Reporting (De
Note 17 - Segment Reporting (Details Textual) | 3 Months Ended |
Sep. 30, 2019 | |
Number of Reportable Segments | 4 |
Note 17 - Segment Reporting - R
Note 17 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | Sep. 30, 2019 | Jun. 30, 2019 |
Assets | $ 22,282,599 | $ 21,253,608 |
Property, plant, and equipment | 2,564,245 | 2,032,671 |
Accumulated depreciation | (1,264,379) | (1,275,657) |
Net property, plant and equipment | 1,299,866 | 757,014 |
Corporate Segment [Member] | ||
Assets | 4,113,432 | 2,730,805 |
Property, plant, and equipment | 14,305 | 14,305 |
USA Beauty Products and Other [Member] | ||
Assets | 4,079,035 | 3,780,278 |
Property, plant, and equipment | 13,739 | 10,745 |
U.S.A Investment Fund Management [Member] | ||
Assets | 9,817,863 | 10,878,549 |
Property, plant, and equipment | ||
New Zealand Food Industry Segment [Member] | ||
Assets | 1,899,700 | 1,838,800 |
Property, plant, and equipment | 1,582,168 | 1,659,186 |
Canada Security Alarm [Member] | ||
Assets | 2,372,569 | 2,025,176 |
Property, plant, and equipment | $ 954,033 | $ 348,435 |
Note 17 - Segment Reporting -_2
Note 17 - Segment Reporting - Reconciliation of Revenue by Segment (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 54,892 | $ 285,954 |
Capital expenditures | 645,817 | 1,580 |
USA Beauty Products and Other [Member] | ||
Capital expenditures | 2,995 | 1,386 |
Corporate Segment [Member] | ||
Capital expenditures | ||
U.S.A Investment Fund Management [Member] | ||
Capital expenditures | ||
New Zealand Food Industry Segment [Member] | ||
Capital expenditures | 33,376 | 13,030 |
Canada Security Alarm [Member] | ||
Capital expenditures | 609,446 | (12,836) |
Operating Segments [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 6,027,850 | 7,176,959 |
Net income | 54,892 | 285,954 |
Operating Segments [Member] | USA Beauty Products and Other [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 963,673 | 902,328 |
Net income | 80,914 | 108,391 |
Operating Segments [Member] | Corporate Segment [Member] | ||
Net income | (438,258) | (392,912) |
Operating Segments [Member] | U.S.A Investment Fund Management [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 3,040,569 | 4,222,984 |
Net income | 208,538 | 414,266 |
Operating Segments [Member] | New Zealand Food Industry Segment [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,250,331 | 1,192,996 |
Net income | 101,253 | 13,664 |
Operating Segments [Member] | Canada Security Alarm [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 773,277 | 858,651 |
Net income | $ 102,445 | $ 142,545 |