Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2020 | Feb. 12, 2021 | |
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 Interactive Data Current | Yes | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2020 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
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 (Unaudited) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 13,322,054 | $ 9,813,188 |
Accounts receivable, net | 1,535,480 | 717,841 |
Accounts receivable - related parties | 2,092,552 | 2,610,917 |
Inventories | 1,893,717 | 1,174,603 |
Prepaid income tax and tax receivable | 570,539 | 857,793 |
Investments | 1,826,421 | 1,820,516 |
Other current assets | 390,069 | 603,944 |
Total current assets | 21,630,832 | 17,598,802 |
Restricted cash | 14,464 | 12,854 |
Property and equipment, net | 1,632,466 | 1,197,192 |
Operating lease right-of-use asset | 1,421,612 | 733,917 |
Goodwill | 1,043,473 | 915,790 |
Intangible assets, net | 2,505,157 | 2,541,285 |
Deferred tax assets, net | 900,878 | 900,878 |
Other assets, long - term | 548,695 | 523,607 |
Total assets | 29,697,577 | 24,424,325 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 2,827,631 | 2,843,616 |
Expense waivers – related parties | 975,228 | 421,892 |
Operating lease liabilities, current portion | 626,273 | 323,395 |
Notes payable - related parties | 3,500 | 3,500 |
Loans - property and equipment, current portion | 14,380 | 13,196 |
Total current liabilities | 4,447,012 | 3,605,599 |
LONG TERM LIABILITIES | ||
Notes payable - related parties | 600,000 | 600,000 |
Loans - property and equipment, net of current portion | 376,882 | 359,845 |
Long-term operating lease liabilities, net of current portion | 852,435 | 447,062 |
Deferred tax liabilities | 329,984 | 261,923 |
Total long-term liabilities | 2,159,301 | 1,668,830 |
Total liabilities | 6,606,313 | 5,274,429 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.001 par value; 50,000,000 authorized Series B: 53,032 issued and outstanding at December 31, 2020 and at June 30, 2020 | 53 | 53 |
Common stock, $0.001 par value; 900,000,000 shares authorized; 37,412,519 shares issued and outstanding at December 31, 2020 and at June 30, 2020 | 37,412 | 37,412 |
Additional paid-in capital | 9,330,913 | 9,330,913 |
Accumulated other comprehensive income (loss) | 225,402 | (144,744) |
Retained earnings | 13,497,484 | 9,926,262 |
Total stockholders' equity | 23,091,264 | 19,149,896 |
Total liabilities and stockholders' equity | $ 29,697,577 | $ 24,424,325 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2020 | Jun. 30, 2020 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 900,000,000 | 900,000,000 |
Common stock, shares issued (in shares) | 37,412,519 | 37,412,519 |
Common stock, shares outstanding (in shares) | 37,412,519 | 37,412,519 |
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 | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net revenue | ||||
Fund management - related party | $ 6,149,415 | $ 2,839,718 | $ 13,185,716 | $ 5,880,287 |
Net revenue | 9,961,822 | 5,796,536 | 20,707,880 | 11,823,975 |
Cost of revenue | 2,378,024 | 1,724,507 | 4,781,584 | 3,493,827 |
Gross profit | 7,583,798 | 4,072,029 | 15,926,296 | 8,330,148 |
Operating expense | ||||
General and administrative expense | 1,641,196 | 986,392 | 3,555,259 | 2,106,392 |
Fund operations | 799,658 | 727,450 | 1,702,498 | 1,537,287 |
Marketing and advertising | 742,529 | 634,871 | 1,540,351 | 1,210,003 |
Depreciation and amortization | 177,225 | 150,485 | 343,124 | 300,148 |
Salaries and compensation | 2,485,357 | 1,673,443 | 4,181,577 | 3,216,485 |
Total operating expenses | 5,845,965 | 4,172,641 | 11,322,809 | 8,370,315 |
Income (loss) from operations | 1,737,833 | (100,612) | 4,603,487 | (40,167) |
Other income (expense): | ||||
Other income (expense) | 55,695 | (31,347) | 176,638 | (22,458) |
Interest and dividend income | 6,799 | 26,403 | 15,442 | 52,239 |
Interest expense | (10,141) | (10,246) | (20,225) | (21,248) |
Total other income (expense), net | 52,353 | (15,190) | 171,855 | 8,533 |
Income (loss) before income taxes | 1,790,186 | (115,802) | 4,775,342 | (31,634) |
(Provision) benefit of income taxes | (438,398) | 40,888 | (1,204,120) | 11,612 |
Net income (loss) | $ 1,351,788 | $ (74,914) | $ 3,571,222 | $ (20,022) |
Weighted average shares of common stock | ||||
Basic (in shares) | 37,412,519 | 37,412,519 | 37,412,519 | 37,368,769 |
Diluted (in shares) | 38,473,159 | 37,412,519 | 38,473,159 | 37,368,769 |
Net income (loss) per common share | ||||
Basic (in dollars per share) | $ 0.04 | $ 0 | $ 0.10 | $ 0 |
Diluted (in dollars per share) | $ 0.04 | $ 0 | $ 0.09 | $ 0 |
Food and Beverage [Member] | ||||
Net revenue | ||||
Revenue | $ 2,134,402 | $ 1,320,357 | $ 4,191,974 | $ 2,570,334 |
Security Alarm Monitoring [Member] | ||||
Net revenue | ||||
Revenue | 617,780 | 733,533 | 1,297,222 | 1,506,753 |
Beauty Products and Other [Member] | ||||
Net revenue | ||||
Revenue | $ 1,060,225 | $ 902,928 | $ 2,032,968 | $ 1,866,601 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income (loss) | $ 1,351,788 | $ (74,914) | $ 3,571,222 | $ (20,022) |
Other comprehensive income: | ||||
Foreign currency translation gain | 297,432 | 135,588 | 370,146 | 169,537 |
Comprehensive income | $ 1,649,220 | $ 60,674 | $ 3,941,368 | $ 149,515 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Jun. 30, 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 on currency translation | 33,949 | 33,949 | |||||
Net income (loss) | 54,892 | 54,892 | |||||
Common stock issued for services (in shares) | 175,000 | ||||||
Common stock issued for services | $ 175 | 175 | |||||
Common stock issued for services - earned (1) | [1] | 37,366 | 37,366 | ||||
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 | |
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 | |
Net income (loss) | (20,022) | ||||||
Balance (in shares) at Dec. 31, 2019 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2019 | $ 53 | $ 37,412 | 9,292,955 | (6,122) | 8,132,839 | 17,457,137 | |
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 | |
Gain on currency translation | 135,588 | 135,588 | |||||
Net income (loss) | (74,914) | (74,914) | |||||
Common stock issued for services - earned (1) | 76,751 | 76,751 | |||||
Balance (in shares) at Dec. 31, 2019 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2019 | $ 53 | $ 37,412 | 9,292,955 | (6,122) | 8,132,839 | 17,457,137 | |
Balance (in shares) at Jun. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Jun. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (144,744) | 9,926,262 | 19,149,896 | |
Gain on currency translation | 72,714 | 72,714 | |||||
Net income (loss) | 2,219,434 | 2,219,434 | |||||
Balance (in shares) at Sep. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Sep. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (72,030) | 12,145,696 | 21,442,044 | |
Balance (in shares) at Jun. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Jun. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (144,744) | 9,926,262 | 19,149,896 | |
Net income (loss) | 3,571,222 | ||||||
Balance (in shares) at Dec. 31, 2020 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2020 | $ 53 | $ 37,412 | 9,330,913 | 225,402 | 13,497,484 | 23,091,264 | |
Balance (in shares) at Sep. 30, 2020 | 53,032 | 37,412,519 | |||||
Balance at Sep. 30, 2020 | $ 53 | $ 37,412 | 9,330,913 | (72,030) | 12,145,696 | 21,442,044 | |
Gain on currency translation | 297,432 | 297,432 | |||||
Net income (loss) | 1,351,788 | 1,351,788 | |||||
Balance (in shares) at Dec. 31, 2020 | 53,032 | 37,412,519 | |||||
Balance at Dec. 31, 2020 | $ 53 | $ 37,412 | $ 9,330,913 | $ 225,402 | $ 13,497,484 | $ 23,091,264 | |
[1] | See Shares Issued for Services contained in Note 12 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 3,571,222 | $ (20,022) |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 343,124 | 300,148 |
Stock based vendor compensation | 114,292 | |
Bad debt expense | 14,075 | 91 |
Impairment to inventory value | 32,688 | 0 |
Unrealized gain (loss) on investments | (1,128) | 688 |
Gain on disposal of equipment | (2,122) | |
Operating lease right-of-use asset - non-cash lease cost | 231,879 | 184,876 |
Decrease (increase) in current assets: | ||
Accounts receivable | (373,656) | 130,917 |
Accounts receivable - related party | 518,364 | 34,437 |
Prepaid income taxes and tax receivable | 292,905 | 427,260 |
Inventories | (149,153) | (207,324) |
Other current assets | 82,433 | 94,986 |
Decrease (increase) in current liabilities: | ||
Accounts payable and accrued expenses | (466,096) | (781,736) |
Operating lease liabilities | (233,222) | (184,068) |
Expense waivers - related party | 553,336 | (37,702) |
Net cash provided by operating activities | 4,414,649 | 56,843 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash paid for acquisition of business | (993,435) | |
Purchase of real estate and equipment | (30,213) | (495,579) |
Purchase of investments | (411) | (29,060) |
Net cash used in investing activities | (1,024,059) | (524,639) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Loans - real estate, property and equipment | 404,518 | |
Repayment of property and equipment loans | (3,445) | (94,613) |
Net cash (used in) provided by financing activities | (3,445) | 309,905 |
Effect of exchange rate change on cash and cash equivalents | 123,331 | 208,393 |
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 3,510,476 | 50,502 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 9,826,042 | 6,495,251 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 13,336,518 | 6,545,753 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 7,985 | 8,990 |
Income taxes paid, net of refunds | 859,320 | 159,363 |
Non-cash financing and investing activities: | ||
Acquisition of operating right-of-use assets through operating lease obligations | 730,741 | 1,150,916 |
Reclassification of acquisition deposit | 122,111 | |
Reclassification of building deposit | $ 178,276 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Concierge Technologies, Inc., (the “Company” or “Concierge”), a Nevada corporation, operates through its wholly owned subsidiaries who are engaged in varied business activities. The operations of the Company's wholly-owned subsidiaries are more particularly described herein but are summarized as follows: ● Wainwright Holdings, Inc. (“Wainwright”), a U.S. based company, is the sole member of two ● Gourmet Foods, Ltd., a New Zealand based company, manufactures and distributes New Zealand meat pies on a commercial scale and its wholly-owned New Zealand subsidiary company, Printstock Products Limited, prints specialty wrappers for the food industry in New Zealand and Australia. (collectively "Gourmet Foods") ● Brigadier Security Systems ( 2000 ● Kahnalytics, Inc. dba/Original Sprout (“Original Sprout”), a U.S. based company, is engaged in the wholesale distribution of hair and skin care products under the brand name Original Sprout on a global scale. ● Marygold & Co., a newly formed U.S. based company, together with its wholly-owned limited liability company, Marygold & Co. Advisory Services, LLC, ( collectively "Marygold") was established by Concierge to explore opportunities in the financial technology ("Fintech") space, is still in the development stage as of December 2020, December 31, 2020, Concierge manages its operating businesses on a decentralized basis. There are no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2020 | |
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 10 June 30, 2020 September 28, 2020. 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, Original Sprout, and Marygold. 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. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not December 31, 2020 June 30, 2020, $2,532 $9,786, Accounts receivable - related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one December 31, 2020 June 30, 2020, no Major Customers and Suppliers – Concentration of Credit Risk Concierge, as a holding company, operates through its wholly-owned subsidiaries and has no no no three six December 31, 2020. 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 58% 54% three six December 31, 2020 50% 51% three six December 31, 2019, 49% 40% December 31, 2020 June 30, 2020, Concierge, through Gourmet Foods, and now with the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 16 Baking: three 1 2 3 no three December 31, 2020, 18% 19% three December 31, 2019. six December 31, 2020, 20% 21% six December 31, 2019. 12% December 31, 2020 15% June 30, 2020. second 10% 13% three December 31, 2020 2019, 10% 13% six December 31, 2020 2019, 26% December 31, 2020 26% June 30, 2020. two three December 31, 2020 2019 55% 44%, 53% 43% six December 31, 2020 2019, No third Printing: one 32% 34% three six December 31, 2020 33% December 31, 2020. second 13% 8% three six December 31, 2020 23% December 31, 2020. No three six December 31, 2020. no Consolidated: 34%, 12% 11% three December 31, 2020. six December 31, 2020, 33%, 13% 12% no December 31, 2019. 34% December 31, 2020. Concierge, through Original Sprout, has not one may three six December 31, 2020, one 24% 15%, 62% December 31, 2020 39% June 30, 2020. No three six December 31, 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 six December 31, 2020 December 31, 2019 December 31, 2020 June 30, 2020 For the Three Months Ended For the Three Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 4,202,851 68 % $ 1,441,122 51 % BNO 638,111 10 % 151,859 5 % UNG 592,230 10 % 515,611 18 % USCI 216,151 4 % 455,435 16 % All Others 500,072 8 % 275,691 10 % Total $ 6,149,415 100 % $ 2,839,718 100 % For the Six Months Ended For the Six Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 9,096,383 69 % $ 2,991,321 51 % BNO 1,396,837 11 % 314,690 5 % UNG 1,143,783 9 % 975,073 17 % USCI 466,416 3 % 1,076,484 18 % All Others 1,082,297 8 % 522,719 9 % Total $ 13,185,716 100 % $ 5,880,287 100 % As of December 31, 2020 As of June 30, 2020 Accounts Receivable Accounts Receivable Fund USO $ 1,407,566 67 % $ 1,818,719 70 % BNO 221,385 11 % 265,143 10 % UNG 212,103 10 % 193,218 7 % All Others 251,498 12 % 333,837 13 % Total $ 2,092,552 100 % $ 2,610,917 100 % 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 six December 31, 2020 2019 $0 $0, six December 31, 2020 2019, $32,688 $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) Building 39 Plant and equipment: 5 10 Furniture and office equipment 3 5 Vehicles 3 5 Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists along with the internally developed software in process for the business applications of Marygold to be launched in the coming fiscal year. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not no three six December 31, 2020 2019. 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 six December 31, 2020 2019. 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 six December 31, 2020 2019. 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 printing of food wrappers in New Zealand, security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company's product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees 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. The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Condensed 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 Income, which for the three six December 31, 2020, US$174,656 US$355,764, 28% 27%, $202,656 $413,119 three six December 31, 2019, 28% three six December 31, 2020 2% 3% three six December 31, 2019. None Because the Company has no no no Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the three December 31, 2020 2019 $743 $635 six December 31, 2020 2019 $1.5 $1.2 Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries (Refer to Note 16 Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may six December 31, 2020 2019 no Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 2016 13 In August 2020, No. 2020 06, Debt – Debt with Conversion and Other Options (Subtopic 470 20 815 40 470 20 may December 15, 2021, In October 2020, 2020 10, December 15, 2020. not not |
Note 3 - Basic and Diluted Net
Note 3 - Basic and Diluted Net Income Per Share | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3. BASIC AND DILUTED NET INCOME PER SHARE Basic net income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. 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 December 31, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,351,788 37,412,519 $ 0.04 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 1,351,788 38,473,159 $ 0.04 For the Three Months Ended December 31, 2019 Net Loss Shares Per Share Basic loss per share: Net loss $ (74,914 ) 37,412,519 $ (0.00 ) Effect of dilutive securities Preferred stock Series B - - - Diluted loss per share $ (74,914 ) 37,412,519 $ (0.00 ) For the Six Months Ended December 31, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 3,571,222 37,412,519 $ 0.10 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 3,571,222 38,473,159 $ 0.09 For the Six Months Ended December 31, 2019 Net Loss Shares Per Share Basic loss per share: Net loss $ (20,022 ) 37,368,769 $ (0.00 ) Effect of dilutive securities Preferred stock Series B - - - Diluted loss per share $ (20,022 ) 37,368,769 $ (0.00 ) |
Note 4 - Inventories
Note 4 - Inventories | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. INVENTORIES Inventories for Gourmet Foods, Brigadier and Original Sprout consisted of the following totals: December 31, June 30, 2020 2020 Raw materials $ 870,268 $ 288,422 Supplies and packing materials 202,606 174,636 Finished goods 820,843 711,545 Total inventories $ 1,893,717 $ 1,174,603 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 6 Months Ended |
Dec. 31, 2020 | |
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: December 31, June 30, 2020 2020 Plant and equipment $ 2,207,236 $ 1,553,939 Furniture and office equipment 231,232 201,287 Vehicles 407,893 370,397 Land and building 597,070 559,362 Total property, plant and equipment, gross 3,443,431 2,684,985 Accumulated depreciation (1,810,965 ) (1,487,793 ) Total property, plant and equipment, net $ 1,632,466 $ 1,197,192 For the three six December 31, 2020 $92,138 $172,030, $65,919 $131,015, three six December 31, 2019. |
Note 6 - Intangible Assets
Note 6 - Intangible Assets | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. INTANGIBLE ASSETS Intangible assets consisted of the following as of: December 31, June 30, 2020 2020 Customer relationships $ 777,375 $ 700,252 Brand name 1,199,964 1,142,122 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Internally developed software 217,990 217,990 Total 3,728,825 3,593,860 Less : accumulated amortization (1,223,668 ) (1,052,575 ) Net intangibles $ 2,505,157 $ 2,541,285 CUSTOMER RELATIONSHIPS On August 11, 2015, $66,153 10 June 2, 2016, $434,099 10 December 18, 2017 $200,000 7 July 1, 2020, $77,123 9 December 31, June 30, 2020 2020 Customer relationships $ 777,375 700,252 Less: accumulated amortization (326,245 ) (282,304 ) Total customer relationships, net $ 451,130 417,948 BRAND NAME On August 11, 2015, $61,429 10 June 2, 2016, $340,694 10 December 18, 2017 $740,000 may July 1, 2020, $57,842 no December 31, June 30, 2020 2020 Brand name $ 1,199,964 $ 1,142,122 Less: accumulated amortization (189,678 ) (169,406 ) Total brand name, net $ 1,010,286 $ 972,716 DOMAIN NAME On August 11, 2015, $21,601 5 June 2, 2016, $15,312 5 December 31, 2020, December 31, June 30, 2020 2020 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (33,744 ) Total brand name, net $ - $ 3,169 RECIPES AND FORMULAS On August 11, 2015, $21,601 5 December 18, 2017 $1,200,000 8 December 31, June 30, 2020 2020 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (477,353 ) (401,366 ) Total recipes and formulas, net $ 744,248 $ 820,235 NON-COMPETE AGREEMENT On June 2, 2016, $84,982 5 December 18, 2017 $190,000 5 December 31, June 30, 2020 2020 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (193,479 ) (165,755 ) Total non-compete agreement, net $ 81,503 $ 109,227 INTERNALLY DEVELOPED SOFTWARE During the quarter ended March 31, 2020, $217,990 December 31, 2020, December 31, 2020, no AMORTIZATION EXPENSE The total amortization expense for intangible assets for the three December 31, 2020 2019 $85,085 $84,567, six December 31, 2020 2019 $171,094 $169,133, Estimated amortization expenses of intangible assets for the next five Years Ending June 30, Expense 2021 $ 163,424 2022 315,378 2023 295,077 2024 277,378 2025 262,114 Thereafter 1,191,786 Total $ 2,505,157 |
Note 7 - Other Assets
Note 7 - Other Assets | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7. OTHER ASSETS Other Current Assets Other current assets totaling $390,069 December 31, 2020 $603,944 June 30, 2020 As of December 31, 2020 As of June 30, 2020 Deposits and prepaid expenses $ 326,628 $ 394,473 Other current assets 63,441 209,471 Total $ 390,069 $ 603,944 Investments Wainwright, from time to time, provides initial investment in the creation of ETP funds that Wainwright manages. Wainwright classifies these investments as current assets as these investments are generally sold within one no no December 31, 2020 June 30, 2020, no December 31, 2020 June 30, 2020, $1.8 All of the Company's short-term investments are Level 1 December 31, 2020 June 30, 2020. December 31, 2020 June 30, 2020: December 31, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,640 $ 5,378 $ - $ 1,050,018 Other short term investments 770,038 5,332 - 775,370 Other equities 1,421 - (388 ) 1,033 Total short-term investments $ 1,816,099 $ 10,710 $ (388 ) $ 1,826,421 June 30, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,446 $ 5,161 $ - $ 1,049,607 Other short term investments 770,094 - - 770,094 Other equities 1,421 - (606 ) 815 Total short-term investments $ 1,815,961 $ 5,161 $ (606 ) $ 1,820,516 During the six December 31, 2020 2019, no 1 2. Restricted Cash At December 31, 2020 June 30, 2020, NZ $20,000 US$14,464 US$12,854, one Long - Term Assets Other long term assets totaling $548,695 December 31, 2020 $523,607 June 30, 2020 (i) $500,000 December 31, 2020 June 30, 2020 10% no three December 31, 2020 June 30, 2020; (ii) and $48,695 December 31, 2020 $23,607 June 30, 2020 |
Note 8 - Goodwill
Note 8 - Goodwill | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | NOTE 8. GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in business combinations. The amounts recorded in goodwill for December 31, 2020 June 30, 2020 $1,043,473 $915,790. Goodwill is comprised of the following amounts: December 31, June 30, 2020 2020 Goodwill – Original Sprout $ 416,817 $ 416,817 Goodwill – Gourmet Foods 275,311 147,628 Goodwill – Brigadier 351,345 351,345 Total $ 1,043,473 $ 915,790 The Company tests for goodwill impairment at each reporting unit. There was no December 31, 2020 June 30, 2020. |
Note 9 - Accounts Payable and A
Note 9 - Accounts Payable and Accrued Expenses | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: December 31, June 30, 2020 2020 Accounts payable $ 1,235,959 $ 1,363,672 Accrued interest 123,675 105,315 Taxes payable 145,749 60,539 Accrued payroll, vacation and bonus payable 686,121 895,803 Accrued expenses 636,127 418,287 Total $ 2,827,631 $ 2,843,616 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10. RELATED PARTY TRANSACTIONS Notes Payable - Related Parties Current related party notes payable consist of the following: December 31, June 30, 2020 2020 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 six December 31, 2020 2019 $6,120 $12,240, 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 for the three six December 31, 2020 $6.1 $13.2 $2.8 $5.9 three six December 31, 2019, $2.1 $2.6 December 31, 2020 June 30, 2020, $0.2 $0.6 three six December 31, 2020, $0.1 $0.2 three six December 31, 2019, $1.0 $0.4 December 31, 2020 June 30, 2020, 15 |
Note 11 - Loans - Property and
Note 11 - Loans - Property and Equipment | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loan Commitments [Text Block] | NOTE 11. LOANS - PROPERTY AND EQUIPMENT Brigadier entered into a loan agreement facilitating the purchase of their Saskatoon office land and building in July 2019. CD$525,000 US$401,000 July 1, 2019) 4.14% June 30, 2024. 12 December 31, 2020 CD$18,336 US$14,380 CD$480,564 US$376,882 three December 31, 2020 2019 US$4,013 US$4,064, six December 31, 2020 2019 US$7,977 US$8,990, |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12. STOCKHOLDERS' EQUITY Convertible Preferred Stock Each issued Series B Voting, Convertible Preferred Stock is convertible, under certain conditions, into 20 20 53,032 December 31, 2020 June 30, 2020. Shares Issued for Services On August 15, 2019 175,000 $0.001, $0.87 August 15, 2019, $152,250. 6 six December 31, 2020, no six December 31, 2019 $114,292 $175 Accumulated Other Comprehensive Income (Loss) The following table presents activity for the periods ending December 31, 2020 June 30, 2020: Balance as of June 30, 2019 $ (175,659 ) Foreign currency translation gain 30,915 Balance as of June 30, 2020 (144,744 ) Foreign currency translation gain 370,146 Balance as of December 31, 2020 $ 225,402 |
Note 13 - Business Combinations
Note 13 - Business Combinations | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 13. BUSINESS COMBINATIONS On March 11, 2020 NZ$1.9 90 July 1, 2020 NZ$1.5M NZ$420,552 September 30, 2020. NZ$715,000 US$465,101 June 26, 2020. October 5, 2020, US$68,061 July 1, 2020. Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right-of-use asset 201,699 Plant, property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 Supplemental Pro Forma Information (Unaudited) The following unaudited supplemental pro forma information for the three six December 31, 2019, July 1, 2019, may not July 1, 2019. not Three Months Ended December 31, 2019 Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Six Months Ended December 31, 2019 Actual Pro Forma Actual Pro Forma Net revenues $ 5,796,536 $ 6,402,878 $ 11,823,975 $ 13,124,107 Net (loss) income $ (74,914 ) $ (45,724 ) $ (20,022 ) $ 33,588 Basic earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ 0.00 Diluted earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ 0.00 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14. INCOME TAXES The Company accounts for income taxes under the asset and liability method, which recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and their financial statement reported amounts, and for net operating losses and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company records a valuation allowance against deferred tax assets when it is more likely than not not not The Company accounts for uncertain tax positions in accordance with the authoritative guidance on income taxes under which the Company may not" As of December 31, 2020, $0.3 no six December 31, 2020 2019. The Company is required to make its best estimate of the annual effective tax rate for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis. The Company recorded tax expense of $438 $41 three December 31, 2020 2019, $1.2 $12 six December 31, 2020 2019, six December 31, 2020 2019 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 2016 2020 three four 2016 2020 December 31, 2020, no |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 15. COMMITMENTS AND CONTINGENCIES Lease Commitments The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, accrued expenses, and long-term operating lease liabilities in the Consolidated Balance Sheets. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date. The operating lease right-of-use assets also include any lease payments made at or before the commencement date and are reduced by any lease incentives received. The Company's lease terms may not not not 12 not The Company's most significant 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, and facilities leased by its newly acquired subsidiary, Printstock, in Napier, New Zealand, as well as for certain equipment including printers and copiers. These leases are generally for three August 2021 September 2022, US$24,009 not December 31, 2020. US$2,586 December 31, 2020. December 2020. January 17, 2021 3 November 30, 2023 one January 1, 2021 $20,125. December 2024. $12,000 For the three December 31, 2020 2019, $161,440 $100,689, six December 31, 2020 2019 $325,942 $197,219, December 31, 2020 $1,421,612, $57,096 $1,478,708 Future minimum consolidated lease payments for Concierge and its subsidiaries are as follows: Year Ended June 30, Lease Amount 2021 $ 367,755 2022 565,840 2023 485,765 2024 227,776 Total minimum lease payments 1,647,136 Less: present value discount (168,428 ) Total operating lease liabilities $ 1,478,708 The weighted average remaining lease term for the Company's operating leases was 2.74 December 31, 2020 5.4% 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$79,554 NZ$20,000 US$14,464 Other Agreements and Commitments USCF manages four December 31, 2020 June 30, 2020 $1.0 $0.4 no four As Marygold builds out its application it enters into agreements with various service providers. As of December 31, 2020, $647,000 $47,000 2021 $300,000 2022 2023, Litigation From time to time, the Company and its subsidiaries may 1 10 December 31, 2020 June 30, 2020, not Retirement Plan Concierge, through its wholly owned Wainwright subsidiary USCF, has a 401 21 1,000 one 90 may $72 $58 six December 31, 2020 2019, |
Note 16 - Segment Reporting
Note 16 - Segment Reporting | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16. SEGMENT REPORTING With the acquisition of Wainwright, Gourmet Foods, Brigadier, and the launch of the Original Sprout business unit of Kahnalytics, the Company has identified four not not third The following table presents a summary of identifiable assets as of December 31, 2020 June 30, 2020: December 31, June 30, 2020 2020 Identifiable assets: Corporate headquarters - including Marygold $ 2,810,793 $ 3,024,690 U.S.A.: beauty products 4,302,236 3,611,471 U.S.A.: fund management 16,341,590 12,834,581 New Zealand: food industry 3,700,152 2,606,256 Canada: security systems 2,542,806 2,347,327 Consolidated total $ 29,697,577 $ 24,424,325 The following table presents a summary of operating information for the three December 31: Three Months Ended Three Months Ended December 31, 2020 December 31, 2019 Revenues from external customers: U.S.A. : beauty products $ 1,060,225 $ 902,928 U.S.A. : investment fund management - related party 6,149,415 2,839,718 New Zealand : food industry 2,134,402 1,320,357 Canada : security systems 617,780 733,533 Consolidated total $ 9,961,822 $ 5,796,536 Net (loss) income: Corporate headquarters - including Marygold $ (1,127,694 ) $ (315,943 ) U.S.A. : beauty products (61,234 ) (57,765 ) U.S.A. : investment fund management - related party 2,269,276 77,830 New Zealand : food industry 239,830 156,235 Canada : security systems 31,610 64,729 Consolidated total $ 1,351,788 $ (74,914 ) ( 1 three December 31, 2020 2019 $0.4 $41 $0.3 three December 31, 2020, $76 three December 31, 2019. The following table presents a summary of operating information for the six December 31: Six Months Ended Six Months Ended December 31, 2020 December 31, 2019 Revenues from external customers: U.S.A. : beauty products $ 2,032,968 $ 1,866,601 U.S.A. : investment fund management - related party 13,185,716 5,880,287 New Zealand : food industry 4,191,974 2,570,334 Canada : security systems 1,297,222 1,506,753 Consolidated total $ 20,707,880 $ 11,823,975 Net (loss) income: Corporate headquarters - including Marygold $ (2,461,908 ) $ (754,200 ) U.S.A. : beauty products 4,038 23,149 U.S.A. : investment fund management - related party 5,498,271 286,368 New Zealand : food industry 332,128 257,487 Canada : security systems 198,693 167,174 Consolidated total $ 3,571,222 $ (20,022 ) ( 1 six December 31, 2020 2019 $1.2 $12 $1.0 six December 31, 2020, $125 six December 31, 2019. The following table presents a summary of net capital expenditures for the three December 31: Three Months Ended Three Months Ended December 31, 2020 December 31, 2019 Capital expenditures, net of disposals: U.S.A.: corporate headquarters - including Marygold $ - $ - U.S.A.: beauty products 27,930 919 U.S.A.: fund management - - New Zealand: food industry 4,303 13,742 Canada: security systems (7,677 ) 13,376 Consolidated $ 24,556 $ 28,037 The following table presents a summary of net capital expenditures for the six December 31: Six Months Ended Six Months Ended December 31, 2020 December 31, 2019 Capital expenditures, net of disposals: U.S.A.: corporate headquarters - including Marygold $ 653 $ - U.S.A.: beauty products 28,757 3,914 U.S.A.: fund management - - New Zealand: food industry 417,465 47,118 Canada: security systems (14,981 ) 622,823 Consolidated $ 431,894 $ 673,855 The following table represents the property, plant and equipment in use at each of the Company's locations as of December 31, 2020 June 30, 2020: As of December 31, 2020 As of June 30, 2020 Asset Location Corporate headquarters - including Marygold $ 17,744 $ 17,091 U.S.A. : beauty products 45,745 16,987 U.S.A. : investment fund management - - New Zealand : food industry 2,404,659 1,721,195 Canada : security systems 975,283 929,712 Total 3,443,431 2,684,985 Less accumulated depreciation (1,810,965 ) (1,487,793 ) Net property, plant and equipment $ 1,632,466 $ 1,197,192 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 17. SUBSEQUENT EVENTS The Company evaluated subsequent events for recognition and disclosure through the date the financial statements were issued or filed. Nothing has occurred outside normal operations since that required recognition or disclosure in these financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2020 | |
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 10 June 30, 2020 September 28, 2020. |
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, Original Sprout, and Marygold. 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. Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns to determine whether or not December 31, 2020 June 30, 2020, $2,532 $9,786, Accounts receivable - related parties, consist of fund asset management fees receivable from the Wainwright business. Management fees receivable generally consist of one December 31, 2020 June 30, 2020, no |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Major Customers and Suppliers – Concentration of Credit Risk Concierge, as a holding company, operates through its wholly-owned subsidiaries and has no no no three six December 31, 2020. 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 58% 54% three six December 31, 2020 50% 51% three six December 31, 2019, 49% 40% December 31, 2020 June 30, 2020, Concierge, through Gourmet Foods, and now with the acquisition of Printstock Products Limited on July 1, 2020, two 1 2 16 Baking: three 1 2 3 no three December 31, 2020, 18% 19% three December 31, 2019. six December 31, 2020, 20% 21% six December 31, 2019. 12% December 31, 2020 15% June 30, 2020. second 10% 13% three December 31, 2020 2019, 10% 13% six December 31, 2020 2019, 26% December 31, 2020 26% June 30, 2020. two three December 31, 2020 2019 55% 44%, 53% 43% six December 31, 2020 2019, No third Printing: one 32% 34% three six December 31, 2020 33% December 31, 2020. second 13% 8% three six December 31, 2020 23% December 31, 2020. No three six December 31, 2020. no Consolidated: 34%, 12% 11% three December 31, 2020. six December 31, 2020, 33%, 13% 12% no December 31, 2019. 34% December 31, 2020. Concierge, through Original Sprout, has not one may three six December 31, 2020, one 24% 15%, 62% December 31, 2020 39% June 30, 2020. No three six December 31, 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 six December 31, 2020 December 31, 2019 December 31, 2020 June 30, 2020 For the Three Months Ended For the Three Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 4,202,851 68 % $ 1,441,122 51 % BNO 638,111 10 % 151,859 5 % UNG 592,230 10 % 515,611 18 % USCI 216,151 4 % 455,435 16 % All Others 500,072 8 % 275,691 10 % Total $ 6,149,415 100 % $ 2,839,718 100 % For the Six Months Ended For the Six Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 9,096,383 69 % $ 2,991,321 51 % BNO 1,396,837 11 % 314,690 5 % UNG 1,143,783 9 % 975,073 17 % USCI 466,416 3 % 1,076,484 18 % All Others 1,082,297 8 % 522,719 9 % Total $ 13,185,716 100 % $ 5,880,287 100 % As of December 31, 2020 As of June 30, 2020 Accounts Receivable Accounts Receivable Fund USO $ 1,407,566 67 % $ 1,818,719 70 % BNO 221,385 11 % 265,143 10 % UNG 212,103 10 % 193,218 7 % All Others 251,498 12 % 333,837 13 % Total $ 2,092,552 100 % $ 2,610,917 100 % |
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 six December 31, 2020 2019 $0 $0, six December 31, 2020 2019, $32,688 $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) Building 39 Plant and equipment: 5 10 Furniture and office equipment 3 5 Vehicles 3 5 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of brand names, domain names, recipes, non-compete agreements and customer lists along with the internally developed software in process for the business applications of Marygold to be launched in the coming fiscal year. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not no three six December 31, 2020 2019. |
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 six December 31, 2020 2019. |
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 six December 31, 2020 2019. |
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 printing of food wrappers in New Zealand, security alarm system installation and maintenance services in Canada, and sales of hair and skin care products internationally. Revenue is accounted for net of sales taxes, sales returns, and trade discounts. The performance obligation is satisfied when the product has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company's product sales or services, these criteria are met at the time the product is shipped, the subscription period commences, or the management fees 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. The Company generates revenue, in part, through contractual monthly recurring fees received for providing ongoing customer support services to monitoring company clientele. The five 1. 2. 3. 4. 5. Transactions involve security systems that are sold outright to the customer where the Company's performance obligations include customer support services and the sale and installation of the security systems. For such arrangements, the Company allocates a portion of the transaction price to each performance obligation based on a relative stand-alone selling price. Revenue associated with the sale and installation of security systems is recognized once installation is complete, and is reflected as security system revenue in the Condensed 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 Income, which for the three six December 31, 2020, US$174,656 US$355,764, 28% 27%, $202,656 $413,119 three six December 31, 2019, 28% three six December 31, 2020 2% 3% three six December 31, 2019. None Because the Company has no no no |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not not 50 |
Advertising Cost [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising as incurred. Marketing and advertising costs for the three December 31, 2020 2019 $743 $635 six December 31, 2020 2019 $1.5 $1.2 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income (Loss) Foreign Currency Translation We record foreign currency translation adjustments and transaction gains and losses in accordance with ASC 830 30, Foreign Currency Translation |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries (Refer to Note 16 |
Business Combinations Policy [Policy Text Block] | Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may one may six December 31, 2020 2019 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, December 15, 2022 ( 2019 10 2016 13 In August 2020, No. 2020 06, Debt – Debt with Conversion and Other Options (Subtopic 470 20 815 40 470 20 may December 15, 2021, In October 2020, 2020 10, December 15, 2020. not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Three Months Ended For the Three Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 4,202,851 68 % $ 1,441,122 51 % BNO 638,111 10 % 151,859 5 % UNG 592,230 10 % 515,611 18 % USCI 216,151 4 % 455,435 16 % All Others 500,072 8 % 275,691 10 % Total $ 6,149,415 100 % $ 2,839,718 100 % For the Six Months Ended For the Six Months Ended December 31, 2020 December 31, 2019 Revenue Revenue Fund USO $ 9,096,383 69 % $ 2,991,321 51 % BNO 1,396,837 11 % 314,690 5 % UNG 1,143,783 9 % 975,073 17 % USCI 466,416 3 % 1,076,484 18 % All Others 1,082,297 8 % 522,719 9 % Total $ 13,185,716 100 % $ 5,880,287 100 % As of December 31, 2020 As of June 30, 2020 Accounts Receivable Accounts Receivable Fund USO $ 1,407,566 67 % $ 1,818,719 70 % BNO 221,385 11 % 265,143 10 % UNG 212,103 10 % 193,218 7 % All Others 251,498 12 % 333,837 13 % Total $ 2,092,552 100 % $ 2,610,917 100 % |
Property, Plant and Equipment, Estimated Useful Life [Table Text Block] | Category Estimated Useful Life (in years) Building 39 Plant and equipment: 5 10 Furniture and office equipment 3 5 Vehicles 3 5 |
Note 3 - Basic and Diluted Ne_2
Note 3 - Basic and Diluted Net Income Per Share (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended December 31, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,351,788 37,412,519 $ 0.04 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 1,351,788 38,473,159 $ 0.04 For the Three Months Ended December 31, 2019 Net Loss Shares Per Share Basic loss per share: Net loss $ (74,914 ) 37,412,519 $ (0.00 ) Effect of dilutive securities Preferred stock Series B - - - Diluted loss per share $ (74,914 ) 37,412,519 $ (0.00 ) For the Six Months Ended December 31, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 3,571,222 37,412,519 $ 0.10 Effect of dilutive securities Preferred stock Series B - 1,060,640 - Diluted income per share $ 3,571,222 38,473,159 $ 0.09 For the Six Months Ended December 31, 2019 Net Loss Shares Per Share Basic loss per share: Net loss $ (20,022 ) 37,368,769 $ (0.00 ) Effect of dilutive securities Preferred stock Series B - - - Diluted loss per share $ (20,022 ) 37,368,769 $ (0.00 ) |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, June 30, 2020 2020 Raw materials $ 870,268 $ 288,422 Supplies and packing materials 202,606 174,636 Finished goods 820,843 711,545 Total inventories $ 1,893,717 $ 1,174,603 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, June 30, 2020 2020 Plant and equipment $ 2,207,236 $ 1,553,939 Furniture and office equipment 231,232 201,287 Vehicles 407,893 370,397 Land and building 597,070 559,362 Total property, plant and equipment, gross 3,443,431 2,684,985 Accumulated depreciation (1,810,965 ) (1,487,793 ) Total property, plant and equipment, net $ 1,632,466 $ 1,197,192 |
Note 6 - Intangible Assets (Tab
Note 6 - Intangible Assets (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | December 31, June 30, 2020 2020 Customer relationships $ 777,375 $ 700,252 Brand name 1,199,964 1,142,122 Domain name 36,913 36,913 Recipes 1,221,601 1,221,601 Non-compete agreement 274,982 274,982 Internally developed software 217,990 217,990 Total 3,728,825 3,593,860 Less : accumulated amortization (1,223,668 ) (1,052,575 ) Net intangibles $ 2,505,157 $ 2,541,285 December 31, June 30, 2020 2020 Customer relationships $ 777,375 700,252 Less: accumulated amortization (326,245 ) (282,304 ) Total customer relationships, net $ 451,130 417,948 December 31, June 30, 2020 2020 Brand name $ 1,199,964 $ 1,142,122 Less: accumulated amortization (189,678 ) (169,406 ) Total brand name, net $ 1,010,286 $ 972,716 December 31, June 30, 2020 2020 Domain name $ 36,913 $ 36,913 Less: accumulated amortization (36,913 ) (33,744 ) Total brand name, net $ - $ 3,169 December 31, June 30, 2020 2020 Recipes and formulas $ 1,221,601 $ 1,221,601 Less: accumulated amortization (477,353 ) (401,366 ) Total recipes and formulas, net $ 744,248 $ 820,235 December 31, June 30, 2020 2020 Non-compete agreement $ 274,982 $ 274,982 Less: accumulated amortization (193,479 ) (165,755 ) Total non-compete agreement, net $ 81,503 $ 109,227 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, Expense 2021 $ 163,424 2022 315,378 2023 295,077 2024 277,378 2025 262,114 Thereafter 1,191,786 Total $ 2,505,157 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | As of December 31, 2020 As of June 30, 2020 Deposits and prepaid expenses $ 326,628 $ 394,473 Other current assets 63,441 209,471 Total $ 390,069 $ 603,944 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,640 $ 5,378 $ - $ 1,050,018 Other short term investments 770,038 5,332 - 775,370 Other equities 1,421 - (388 ) 1,033 Total short-term investments $ 1,816,099 $ 10,710 $ (388 ) $ 1,826,421 June 30, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Money market funds $ 1,044,446 $ 5,161 $ - $ 1,049,607 Other short term investments 770,094 - - 770,094 Other equities 1,421 - (606 ) 815 Total short-term investments $ 1,815,961 $ 5,161 $ (606 ) $ 1,820,516 |
Note 8 - Goodwill (Tables)
Note 8 - Goodwill (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, June 30, 2020 2020 Goodwill – Original Sprout $ 416,817 $ 416,817 Goodwill – Gourmet Foods 275,311 147,628 Goodwill – Brigadier 351,345 351,345 Total $ 1,043,473 $ 915,790 |
Note 9 - Accounts Payable and_2
Note 9 - Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, June 30, 2020 2020 Accounts payable $ 1,235,959 $ 1,363,672 Accrued interest 123,675 105,315 Taxes payable 145,749 60,539 Accrued payroll, vacation and bonus payable 686,121 895,803 Accrued expenses 636,127 418,287 Total $ 2,827,631 $ 2,843,616 |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, June 30, 2020 2020 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 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Balance as of June 30, 2019 $ (175,659 ) Foreign currency translation gain 30,915 Balance as of June 30, 2020 (144,744 ) Foreign currency translation gain 370,146 Balance as of December 31, 2020 $ 225,402 |
Note 13 - Business Combinatio_2
Note 13 - Business Combinations (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Item Amount Cash in bank $ 118,774 Accounts receivable 384,222 Prepayments/deposits 1,372 Inventories 509,796 Operating lease right-of-use asset 201,699 Plant, property and equipment 401,681 Intangible assets 134,965 Goodwill 127,683 Deferred tax liability (68,061 ) Assumed lease liabilities (201,699 ) Accounts payable and accrued expenses (376,112 ) Total Purchase Price $ 1,234,320 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended December 31, 2019 Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Six Months Ended December 31, 2019 Actual Pro Forma Actual Pro Forma Net revenues $ 5,796,536 $ 6,402,878 $ 11,823,975 $ 13,124,107 Net (loss) income $ (74,914 ) $ (45,724 ) $ (20,022 ) $ 33,588 Basic earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ 0.00 Diluted earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ 0.00 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ended June 30, Lease Amount 2021 $ 367,755 2022 565,840 2023 485,765 2024 227,776 Total minimum lease payments 1,647,136 Less: present value discount (168,428 ) Total operating lease liabilities $ 1,478,708 |
Note 16 - Segment Reporting (Ta
Note 16 - Segment Reporting (Tables) | 6 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | December 31, June 30, 2020 2020 Identifiable assets: Corporate headquarters - including Marygold $ 2,810,793 $ 3,024,690 U.S.A.: beauty products 4,302,236 3,611,471 U.S.A.: fund management 16,341,590 12,834,581 New Zealand: food industry 3,700,152 2,606,256 Canada: security systems 2,542,806 2,347,327 Consolidated total $ 29,697,577 $ 24,424,325 As of December 31, 2020 As of June 30, 2020 Asset Location Corporate headquarters - including Marygold $ 17,744 $ 17,091 U.S.A. : beauty products 45,745 16,987 U.S.A. : investment fund management - - New Zealand : food industry 2,404,659 1,721,195 Canada : security systems 975,283 929,712 Total 3,443,431 2,684,985 Less accumulated depreciation (1,810,965 ) (1,487,793 ) Net property, plant and equipment $ 1,632,466 $ 1,197,192 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three Months Ended Three Months Ended December 31, 2020 December 31, 2019 Revenues from external customers: U.S.A. : beauty products $ 1,060,225 $ 902,928 U.S.A. : investment fund management - related party 6,149,415 2,839,718 New Zealand : food industry 2,134,402 1,320,357 Canada : security systems 617,780 733,533 Consolidated total $ 9,961,822 $ 5,796,536 Net (loss) income: Corporate headquarters - including Marygold $ (1,127,694 ) $ (315,943 ) U.S.A. : beauty products (61,234 ) (57,765 ) U.S.A. : investment fund management - related party 2,269,276 77,830 New Zealand : food industry 239,830 156,235 Canada : security systems 31,610 64,729 Consolidated total $ 1,351,788 $ (74,914 ) Six Months Ended Six Months Ended December 31, 2020 December 31, 2019 Revenues from external customers: U.S.A. : beauty products $ 2,032,968 $ 1,866,601 U.S.A. : investment fund management - related party 13,185,716 5,880,287 New Zealand : food industry 4,191,974 2,570,334 Canada : security systems 1,297,222 1,506,753 Consolidated total $ 20,707,880 $ 11,823,975 Net (loss) income: Corporate headquarters - including Marygold $ (2,461,908 ) $ (754,200 ) U.S.A. : beauty products 4,038 23,149 U.S.A. : investment fund management - related party 5,498,271 286,368 New Zealand : food industry 332,128 257,487 Canada : security systems 198,693 167,174 Consolidated total $ 3,571,222 $ (20,022 ) Three Months Ended Three Months Ended December 31, 2020 December 31, 2019 Capital expenditures, net of disposals: U.S.A.: corporate headquarters - including Marygold $ - $ - U.S.A.: beauty products 27,930 919 U.S.A.: fund management - - New Zealand: food industry 4,303 13,742 Canada: security systems (7,677 ) 13,376 Consolidated $ 24,556 $ 28,037 Six Months Ended Six Months Ended December 31, 2020 December 31, 2019 Capital expenditures, net of disposals: U.S.A.: corporate headquarters - including Marygold $ 653 $ - U.S.A.: beauty products 28,757 3,914 U.S.A.: fund management - - New Zealand: food industry 417,465 47,118 Canada: security systems (14,981 ) 622,823 Consolidated $ 431,894 $ 673,855 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 2,532 | $ 2,532 | $ 9,786 | ||
Allowance for Doubtful Accounts Receivable, Related Parties | 0 | 0 | 0 | ||
Asset Impairment Charges, Total | 0 | $ 0 | |||
Inventory Write-down | 32,688 | 0 | |||
Impairment of Intangible Assets, Finite-lived | 0 | $ 0 | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | 0 | 0 | $ 0 |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 0 | 0 | |
Advertising Expense | 743,000 | 635,000 | 1,500,000 | 1,200,000 | |
Security Alarm Monitoring Customer Support Services [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 174,656 | $ 202,656 | $ 355,764 | $ 413,119 | |
Percentage of Total Revenue from Services Under Contract Recognized As Provided | 28.00% | 28.00% | 27.00% | 28.00% | |
Percentage of Consolidated Revenue from Services Under Contract, Recognized As Provided | 2.00% | 3.00% | 2.00% | 3.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | |||||
Concentration Risk, Percentage | 58.00% | 50.00% | 54.00% | 51.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | |||||
Concentration Risk, Percentage | 34.00% | 33.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 18.00% | 19.00% | 20.00% | 21.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Gasoline Convenience Store Sector [Member] | |||||
Concentration Risk, Percentage | 53.00% | 43.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 32.00% | 34.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | |||||
Concentration Risk, Percentage | 12.00% | 13.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 10.00% | 13.00% | 10.00% | 13.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Gasoline Convenience Store Sector [Member] | |||||
Concentration Risk, Percentage | 55.00% | 44.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 13.00% | 8.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Gourmet Foods [Member] | Major Customer 3 [Member] | |||||
Concentration Risk, Percentage | 11.00% | 12.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | The Original Sprout LLC [Member] | Major Customer 1 [Member] | |||||
Concentration Risk, Percentage | 24.00% | 15.00% | |||
Number of Major Customers | 1 | 1 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | |||||
Concentration Risk, Percentage | 49.00% | 40.00% | |||
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 | 12.00% | 15.00% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 1 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 33.00% | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Grocery Industry [Member] | |||||
Concentration Risk, Percentage | 26.00% | 26.00% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 2 [Member] | Printing Industry [Member] | |||||
Concentration Risk, Percentage | 23.00% | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Gourmet Foods [Member] | Major Customer 1 2 AND 3 [Member] | |||||
Concentration Risk, Percentage | 34.00% | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Printstock Products Ltd. [Member] | Printing Industry [Member] | |||||
Number of Major Customers | 0 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | The Original Sprout LLC [Member] | Major Customer 3 [Member] | |||||
Concentration Risk, Percentage | 62.00% | 39.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Concentration Risk (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue, related parties | $ 6,149,415 | $ 2,839,718 | $ 13,185,716 | $ 5,880,287 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | ||||
Revenue, related parties | $ 2,092,552 | $ 2,610,917 | ||
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 | $ 1,407,566 | $ 1,818,719 | ||
Concentration risk percentage | 67.00% | 70.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | ||||
Revenue, related parties | $ 221,385 | $ 265,143 | ||
Concentration risk percentage | 11.00% | 10.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||||
Revenue, related parties | $ 212,103 | $ 193,218 | ||
Concentration risk percentage | 10.00% | 7.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wainwright [Member] | All Other Customers [Member] | ||||
Revenue, related parties | $ 251,498 | $ 333,837 | ||
Concentration risk percentage | 12.00% | 13.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | ||||
Revenue, related parties | $ 6,149,415 | $ 2,839,718 | $ 13,185,716 | $ 5,880,287 |
Concentration risk percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USO Fund [Member] | ||||
Revenue, related parties | $ 4,202,851 | $ 1,441,122 | $ 9,096,383 | $ 2,991,321 |
Concentration risk percentage | 68.00% | 51.00% | 69.00% | 51.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the BNO Fund [Member] | ||||
Revenue, related parties | $ 638,111 | $ 151,859 | $ 1,396,837 | $ 314,690 |
Concentration risk percentage | 10.00% | 5.00% | 11.00% | 5.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the UNG Fund [Member] | ||||
Revenue, related parties | $ 592,230 | $ 515,611 | $ 1,143,783 | $ 975,073 |
Concentration risk percentage | 10.00% | 18.00% | 9.00% | 17.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | All Other Customers [Member] | ||||
Revenue, related parties | $ 500,072 | $ 275,691 | $ 1,082,297 | $ 522,719 |
Concentration risk percentage | 8.00% | 10.00% | 8.00% | 9.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wainwright [Member] | Customers Related to the USCI Fund [Member] | ||||
Revenue, related parties | $ 216,151 | $ 455,435 | $ 466,416 | $ 1,076,484 |
Concentration risk percentage | 4.00% | 16.00% | 3.00% | 18.00% |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 6 Months Ended |
Dec. 31, 2020 | |
Building [Member] | |
Property, plant, and equipment, useful life (Year) | 39 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Vehicles [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Vehicles [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 3 - Basic and Diluted Ne_3
Note 3 - Basic and Diluted Net Income Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income available to common shareholders, basic | $ 1,351,788 | $ (74,914) | $ 3,571,222 | $ (20,022) |
Basic (in shares) | 37,412,519 | 37,412,519 | 37,412,519 | 37,368,769 |
Basic (in dollars per share) | $ 0.04 | $ 0 | $ 0.10 | $ 0 |
Effect of dilutive securities, shares (in shares) | 1,060,640 | 1,060,640 | ||
Diluted income per share | $ 1,351,788 | $ (74,914) | $ 3,571,222 | $ (20,022) |
Diluted (in shares) | 38,473,159 | 37,412,519 | 38,473,159 | 37,368,769 |
Diluted (in dollars per share) | $ 0.04 | $ 0 | $ 0.09 | $ 0 |
Diluted income per share | $ 1,351,788 | $ (74,914) | $ 3,571,222 | $ (20,022) |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventory Summary (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Raw materials | $ 870,268 | $ 288,422 |
Supplies and packing materials | 202,606 | 174,636 |
Finished goods | 820,843 | 711,545 |
Total inventories | $ 1,893,717 | $ 1,174,603 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 92,138 | $ 65,919 | $ 172,030 | $ 131,015 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Property and Equipment Summary (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Plant and equipment, gross | $ 3,443,431 | $ 2,684,985 |
Accumulated depreciation | (1,810,965) | (1,487,793) |
Total property, plant and equipment, net | 1,632,466 | 1,197,192 |
Plant and Equipment [Member] | ||
Plant and equipment, gross | 2,207,236 | 1,553,939 |
Furniture and Fixtures [Member] | ||
Plant and equipment, gross | 231,232 | 201,287 |
Vehicles [Member] | ||
Plant and equipment, gross | 407,893 | 370,397 |
Land and Building [Member] | ||
Plant and equipment, gross | $ 597,070 | $ 559,362 |
Note 6 - Intangible Assets (Det
Note 6 - Intangible Assets (Details Textual) - USD ($) | Jul. 01, 2020 | Dec. 18, 2017 | Jun. 02, 2016 | Aug. 11, 2015 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 |
Finite-Lived Intangible Assets, Gross, Total | $ 3,728,825 | $ 3,728,825 | $ 3,593,860 | ||||||
Amortization of Intangible Assets, Total | 85,085 | $ 84,567 | 171,094 | $ 169,133 | |||||
Customer Relationships [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 777,375 | 777,375 | 700,252 | ||||||
Brand Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,199,964 | 1,199,964 | 1,142,122 | ||||||
Domain Name [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 36,913 | 36,913 | 36,913 | ||||||
Recipes [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 1,221,601 | 1,221,601 | 1,221,601 | ||||||
Noncompete Agreements [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | 274,982 | 274,982 | 274,982 | ||||||
Marygold Properties [Member] | |||||||||
Finite-Lived Intangible Assets, Gross, Total | $ 217,990 | $ 217,990 | $ 217,990 | ||||||
Gourmet Foods Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 66,153 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 61,429 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Gourmet Foods Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Gourmet Foods Acquisition [Member] | Recipes [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 21,601 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Customer Relationships [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 434,099 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Brand Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 340,694 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 10 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Domain Name [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 15,312 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Brigadier Security Systems Acquisition [Member] | Noncompete Agreements [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 84,982 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
The Original Sprout LLC [Member] | Customer Relationships [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years | ||||||||
The Original Sprout LLC [Member] | Brand Name [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 740,000 | ||||||||
The Original Sprout LLC [Member] | Recipes [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 1,200,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 8 years | ||||||||
The Original Sprout LLC [Member] | Noncompete Agreements [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 190,000 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years | ||||||||
Printstock Products Ltd. [Member] | Customer Relationships [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 77,123 | ||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 9 years | ||||||||
Printstock Products Ltd. [Member] | Brand Name [Member] | Kahnalytics [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 57,842 |
Note 6 - Intangible Assets - Su
Note 6 - Intangible Assets - Summary of Finite-lived Intangible Assets (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Finite-lived intangible assets, gross | $ 3,728,825 | $ 3,593,860 |
Less : accumulated amortization | (1,223,668) | (1,052,575) |
Total | 2,505,157 | 2,541,285 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | 777,375 | 700,252 |
Less : accumulated amortization | (326,245) | (282,304) |
Total | 451,130 | 417,948 |
Brand Name [Member] | ||
Finite-lived intangible assets, gross | 1,199,964 | 1,142,122 |
Less : accumulated amortization | (189,678) | (169,406) |
Total | 1,010,286 | 972,716 |
Domain Name [Member] | ||
Finite-lived intangible assets, gross | 36,913 | 36,913 |
Less : accumulated amortization | (36,913) | (33,744) |
Total | 3,169 | |
Recipes [Member] | ||
Finite-lived intangible assets, gross | 1,221,601 | 1,221,601 |
Less : accumulated amortization | (477,353) | (401,366) |
Total | 744,248 | 820,235 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | 274,982 | 274,982 |
Less : accumulated amortization | (193,479) | (165,755) |
Total | 81,503 | 109,227 |
Marygold Properties [Member] | ||
Finite-lived intangible assets, gross | $ 217,990 | $ 217,990 |
Note 6 - Intangible Assets - Sc
Note 6 - Intangible Assets - Schedule of Amortization (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
2021 | $ 163,424 | |
2022 | 315,378 | |
2023 | 295,077 | |
2024 | 277,378 | |
2025 | 262,114 | |
Thereafter | 1,191,786 | |
Total | $ 2,505,157 | $ 2,541,285 |
Note 7 - Other Assets (Details
Note 7 - Other Assets (Details Textual) | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020NZD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020NZD ($) | Jun. 30, 2020USD ($) | |
Other Assets, Current | $ 390,069 | $ 603,944 | ||||
Available-for-sale Securities, Total | 1,800,000 | 1,800,000 | ||||
Restricted Cash and Cash Equivalents, Total | $ 20,000 | 14,464 | $ 20,000 | 12,854 | ||
Wainwright [Member] | ||||||
Assets, Noncurrent, Total | 548,695 | 523,607 | ||||
Cost Method Investments | $ 500,000 | $ 500,000 | ||||
Cost Method Investment, Ownership Percentage | 10.00% | 10.00% | 10.00% | 10.00% | ||
Cost-method Investments, Other than Temporary Impairment | $ 0 | $ 0 | ||||
Deposit Assets, Total | $ 48,695 | $ 23,607 |
Note 7 - Other Assets - Compone
Note 7 - Other Assets - Components of Other Current Assets (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Deposits and prepaid expenses | $ 326,628 | $ 394,473 |
Other current assets | 63,441 | 209,471 |
Total | $ 390,069 | $ 603,944 |
Note 7 - Other Assets - Investm
Note 7 - Other Assets - Investments (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Investments, cost | $ 1,816,099 | $ 1,815,961 |
Investments, gross unrealized gains | 10,710 | 5,161 |
Investments, gross unrealized losses | (388) | (606) |
Investments | 1,826,421 | 1,820,516 |
Money Market Funds [Member] | ||
Investments, cost | 1,044,640 | 1,044,446 |
Investments, gross unrealized gains | 5,378 | 5,161 |
Investments, gross unrealized losses | ||
Investments | 1,050,018 | 1,049,607 |
Other Short Term Investments [Member] | ||
Investments, cost | 770,038 | 770,094 |
Investments, gross unrealized gains | 5,332 | |
Investments, gross unrealized losses | ||
Investments | 775,370 | 770,094 |
Other Equities [Member] | ||
Investments, cost | 1,421 | 1,421 |
Investments, gross unrealized gains | ||
Investments, gross unrealized losses | (388) | (606) |
Investments | $ 1,033 | $ 815 |
Note 8 - Goodwill (Details Text
Note 8 - Goodwill (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | Sep. 30, 2020 | |
Goodwill, Ending Balance | $ 1,043,473 | $ 1,043,473 | $ 915,790 | $ 1,043,473 | ||
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Note 8 - Goodwill - Summary of
Note 8 - Goodwill - Summary of Goodwill (Details) - USD ($) | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 |
Goodwill | $ 1,043,473 | $ 1,043,473 | $ 915,790 |
The Original Sprout LLC [Member] | |||
Goodwill, gross | 416,817 | 416,817 | |
Gourmet Foods [Member] | |||
Goodwill, gross | 275,311 | 147,628 | |
Brigadier [Member] | |||
Goodwill, gross | $ 351,345 | $ 351,345 |
Note 9 - Accounts Payable and_3
Note 9 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Accounts payable | $ 1,235,959 | $ 1,363,672 |
Accrued interest | 123,675 | 105,315 |
Taxes payable | 145,749 | 60,539 |
Accrued payroll, vacation and bonus payable | 686,121 | 895,803 |
Accrued expenses | 636,127 | 418,287 |
Total | $ 2,827,631 | $ 2,843,616 |
Note 10 - Related Party Trans_3
Note 10 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | |
Interest Expense, Related Party | $ 6,120 | $ 12,240 | |||
Revenue from Related Parties | 6,149,415 | $ 2,839,718 | 13,185,716 | $ 5,880,287 | |
Accounts Receivable, Related Parties | 2,100,000 | 2,100,000 | $ 2,600,000 | ||
Fund Expense Limitation Amount, Related Party | 200,000 | $ 100,000 | 600,000 | $ 200,000 | |
Waivers Payable, Related Party | $ 1,000,000 | $ 1,000,000 | $ 400,000 |
Note 10 - Related Party Trans_4
Note 10 - Related Party Transactions - Notes Payable (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Notes payable | $ 603,500 | $ 603,500 |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable | 3,500 | 3,500 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable | 250,000 | 250,000 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable | $ 350,000 | $ 350,000 |
Note 10 - Related Party Trans_5
Note 10 - Related Party Transactions - Notes Payable (Details) (Parentheticals) | 6 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Jun. 30, 2020 | |
Notes Payable Due on December 31, 2012 [Member] | ||
Notes payable, interest rate | 8.00% | 8.00% |
Notes payable, maturity date | Dec. 31, 2012 | Dec. 31, 2012 |
Notes Payable Due on May 25, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | May 25, 2022 | May 25, 2022 |
Notes Payable Due on April 8, 2022 [Member] | ||
Notes payable, interest rate | 4.00% | 4.00% |
Notes payable, maturity date | Apr. 8, 2022 | Apr. 8, 2022 |
Note 11 - Loans - Property an_2
Note 11 - Loans - Property and Equipment (Details Textual) | 3 Months Ended | 6 Months Ended | ||||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020CAD ($) | Jun. 30, 2020USD ($) | |
Notes Payable, Current, Total | $ 14,380 | $ 14,380 | $ 13,196 | |||
Notes Payable, Noncurrent, Total | 376,882 | 376,882 | $ 359,845 | |||
Interest Expense, Debt, Total | 4,013 | $ 4,064 | 7,977 | $ 8,990 | ||
Note Payable on Office Land and Building [Member] | ||||||
Notes Payable, Total | $ 401,000 | $ 401,000 | $ 525,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.14% | 4.14% | 4.14% | |||
Notes Payable, Current, Total | $ 14,380 | $ 14,380 | $ 18,336 | |||
Notes Payable, Noncurrent, Total | $ 376,882 | $ 376,882 | $ 480,564 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) | Aug. 15, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 |
Stock Issued During Period, Shares, Issued for Services (in shares) | 175,000 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |
Share Price (in dollars per share) | $ 0.87 | |||
Stock Issued During Period, Value, Issued For Services Fair Value | $ 152,250 | |||
Shares Issued For Services [Member] | ||||
Share-based Payment Arrangement, Expense | $ 0 | $ 114,292 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 175 | |||
Series B Convertible Preferred Stock [Member] | ||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 20 | 20 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 53,032 | 53,032 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Summary of Accumulated Other Comprehensive Income (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | |
Balance | $ (144,744) | ||||
Foreign currency translation gain | $ 297,432 | $ 135,588 | 370,146 | $ 169,537 | |
Balance | 225,402 | 225,402 | $ (144,744) | ||
AOCI Attributable to Parent [Member] | |||||
Balance | (144,744) | $ (175,659) | (175,659) | ||
Foreign currency translation gain | 370,146 | 30,915 | |||
Balance | $ 225,402 | $ 225,402 | $ (144,744) |
Note 13 - Business Combinatio_3
Note 13 - Business Combinations (Details Textual) | Sep. 30, 2020NZD ($) | Jul. 01, 2020NZD ($) | Oct. 05, 2020USD ($) | Jul. 01, 2020USD ($) | Jun. 26, 2020NZD ($) | Jun. 26, 2020USD ($) |
Loan Agreement with Gourmet Foods [Member] | ||||||
Notes Receivable, Related Parties | $ 715,000 | $ 465,101 | ||||
Gourmet Foods [Member] | Printstock Products Ltd. [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 1,900,000 | |||||
Payments to Acquire Businesses, Gross | $ 420,552 | $ 1,500,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | $ 68,061 | $ 68,061 |
Note 13 - Business Combinatio_4
Note 13 - Business Combinations - Acquisition of the Assets of Printstock Products, Ltd (Details) - USD ($) | Dec. 31, 2020 | Oct. 05, 2020 | Sep. 30, 2020 | Jul. 01, 2020 | Jun. 30, 2020 |
Goodwill | $ 1,043,473 | $ 1,043,473 | $ 915,790 | ||
Total Purchase Price | $ 1,234,320 | ||||
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | |||||
Cash in bank | 118,774 | ||||
Accounts receivable | 384,222 | ||||
Prepayments/deposits | 1,372 | ||||
Inventories | 509,796 | ||||
Operating lease right-of-use asset | 201,699 | ||||
Plant, property and equipment | 401,681 | ||||
Intangible assets | 134,965 | ||||
Goodwill | 127,683 | ||||
Deferred tax liability | $ (68,061) | (68,061) | |||
Assumed lease liabilities | (201,699) | ||||
Accounts payable and accrued expenses | $ (376,112) |
Note 13 - Business Combinatio_5
Note 13 - Business Combinations - Pro Forma Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net revenues | $ 11,823,975 | |||
Net revenues | 13,124,107 | |||
Net (loss) income | (20,022) | |||
Net (loss) income | $ 33,588 | |||
Basic earnings per share (in dollars per share) | $ 0.04 | $ 0 | $ 0.10 | $ 0 |
Basic earnings per share (in dollars per share) | 0 | |||
Diluted earnings per share (in dollars per share) | $ 0.04 | $ 0 | $ 0.09 | 0 |
Diluted earnings per share (in dollars per share) | $ 0 | |||
Printstock Products Ltd. [Member] | Gourmet Foods [Member] | ||||
Net revenues | $ 5,796,536 | |||
Net revenues | 6,402,878 | |||
Net (loss) income | (74,914) | |||
Net (loss) income | $ (45,724) | |||
Basic earnings per share (in dollars per share) | $ 0 | |||
Basic earnings per share (in dollars per share) | 0 | |||
Diluted earnings per share (in dollars per share) | 0 | |||
Diluted earnings per share (in dollars per share) | $ 0 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Unrecognized Tax Benefits, Ending Balance | $ 300,000 | $ 300,000 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | $ 0 | |||
Income Tax Expense (Benefit), Total | $ 438,398 | $ (40,888) | $ 1,204,120 | $ (11,612) | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Open Tax Year | 2016 2017 2018 2019 2020 | ||||
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | |||||
Open Tax Year | 2016 2017 2018 2019 2020 | ||||
Foreign Tax Authority [Member] | New Zealand Revenue Agency [Member] | |||||
Open Tax Year | 2016 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingencies (Details Textual) | 3 Months Ended | 6 Months Ended | ||||||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020NZD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020NZD ($) | Jun. 30, 2020USD ($) | |
Operating Leases, Rent Expense, Net, Total | $ 161,440 | $ 100,689 | $ 325,942 | $ 197,219 | ||||
Operating Lease, Right-of-Use Asset | $ 1,421,612 | $ 733,917 | ||||||
Lessee, Operating Lease, Deferred Rent | 57,096 | |||||||
Operating Lease, Liability, Total | $ 1,478,708 | |||||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 2 years 270 days | 2 years 270 days | ||||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.40% | 5.40% | ||||||
Restricted Cash and Cash Equivalents, Total | $ 20,000 | $ 14,464 | $ 20,000 | 12,854 | ||||
Expense Waivers | 975,228 | 421,892 | ||||||
Loss Contingency Accrual, Ending Balance | 0 | $ 0 | ||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 72,000 | $ 58,000 | ||||||
Primary Service Vendors [Member] | ||||||||
Purchase Obligation, Total | 647,000 | |||||||
Purchase Obligation, to be Paid, Remainder of Fiscal Year | 47,000 | |||||||
Purchase Obligation, to be Paid, Year One | 300,000 | |||||||
General Security Lease Agreement [Member] | ||||||||
Operating Lease Arrangement, Collateral Amount | 110,000 | 79,554 | ||||||
Lease of Separate Facilities [Member] | ||||||||
Restricted Cash and Cash Equivalents, Total | $ 20,000 | $ 14,464 | ||||||
Gourmet Foods [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | ||||||||
Lessor, Operating Lease, Term of Contract (Year) | 3 years | 3 years | ||||||
Operating Lease, Monthly Rent | 24,009 | |||||||
Brigadier [Member] | Leased Factory and Warehouse Located in Tauranga, New Zealand [Member] | ||||||||
Operating Lease, Monthly Rent | 2,586 | |||||||
The Original Sprout LLC [Member] | Office and Warehouse Space in San Clemente, CA [Member] | ||||||||
Operating Lease, Monthly Rent | 20,125 | |||||||
Wainwright [Member] | Lease for Office Space in Walnut Creek, California [Member] | ||||||||
Operating Lease, Monthly Rent | $ 12,000 | |||||||
USCF [Member] | ||||||||
Defined Contribution Plan, Minimum Age Requirement for Participation (Year) | 21 years | |||||||
Defined Contribution Plan, Minimum Days of Service in Wholly Owned Subsidiary Requirement (Day) | 90 days |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingencies - Future Minimum Consolidated Lease Payments (Details) | Dec. 31, 2020USD ($) |
2021 | $ 367,755 |
2022 | 565,840 |
2023 | 485,765 |
2024 | 227,776 |
Total minimum lease payments | 1,647,136 |
Less: present value discount | (168,428) |
Operating Lease, Liability, Total | $ 1,478,708 |
Note 16 - Segment Reporting (De
Note 16 - Segment Reporting (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Reportable Segments | 4 | |||
Income Tax Expense (Benefit), Total | $ 438,398 | $ (40,888) | $ 1,204,120 | $ (11,612) |
Corporate, Non-Segment [Member] | ||||
Income Tax Expense (Benefit), Total | $ 300,000 | $ (76,000) | $ 1,000,000 | $ (125,000) |
Note 16 - Segment Reporting - R
Note 16 - Segment Reporting - Reconciliation of Assets by Segment (Details) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Identifiable assets | $ 29,697,577 | $ 24,424,325 |
Property, plant, and equipment | 3,443,431 | 2,684,985 |
Less accumulated depreciation | (1,810,965) | (1,487,793) |
Net property, plant and equipment | 1,632,466 | 1,197,192 |
Corporate Segment [Member] | ||
Identifiable assets | 2,810,793 | 3,024,690 |
Property, plant, and equipment | 17,744 | 17,091 |
USA Beauty Products and Other [Member] | ||
Identifiable assets | 4,302,236 | 3,611,471 |
Property, plant, and equipment | 45,745 | 16,987 |
U.S.A Investment Fund Management [Member] | ||
Identifiable assets | 16,341,590 | 12,834,581 |
Property, plant, and equipment | ||
New Zealand Food Industry Segment [Member] | ||
Identifiable assets | 3,700,152 | 2,606,256 |
Property, plant, and equipment | 2,404,659 | 1,721,195 |
Canada Security Alarm [Member] | ||
Identifiable assets | 2,542,806 | 2,347,327 |
Property, plant, and equipment | $ 975,283 | $ 929,712 |
Note 16 - Segment Reporting -_2
Note 16 - Segment Reporting - Reconciliation of Revenue by Segment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
Net income (loss) | $ 1,351,788 | $ 2,219,434 | $ (74,914) | $ 54,892 | $ 3,571,222 | $ (20,022) | ||||
Capital expenditures | 24,556 | 28,037 | 431,894 | 673,855 | ||||||
Capital expenditures | (24,556) | (28,037) | (431,894) | (673,855) | ||||||
USA Beauty Products and Other [Member] | ||||||||||
Capital expenditures | 27,930 | 919 | 28,757 | 3,914 | ||||||
Capital expenditures | (27,930) | (919) | (28,757) | (3,914) | ||||||
Corporate Segment [Member] | ||||||||||
Capital expenditures | 653 | |||||||||
Capital expenditures | (653) | |||||||||
U.S.A Investment Fund Management [Member] | ||||||||||
Capital expenditures | ||||||||||
Capital expenditures | ||||||||||
New Zealand Food Industry Segment [Member] | ||||||||||
Capital expenditures | 4,303 | 13,742 | 417,465 | 47,118 | ||||||
Capital expenditures | (4,303) | (13,742) | (417,465) | (47,118) | ||||||
Canada Security Alarm [Member] | ||||||||||
Capital expenditures | 7,677 | 13,376 | 14,981 | 622,823 | ||||||
Capital expenditures | (7,677) | (13,376) | (14,981) | (622,823) | ||||||
Operating Segments [Member] | ||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 9,961,822 | 5,796,536 | 20,707,880 | 11,823,975 | ||||||
Net income (loss) | 1,351,788 | [1] | (74,914) | [1] | 3,571,222 | [2] | (20,022) | [2] | ||
Operating Segments [Member] | USA Beauty Products and Other [Member] | ||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,060,225 | 902,928 | 2,032,968 | 1,866,601 | ||||||
Net income (loss) | (61,234) | (57,765) | 4,038 | 23,149 | ||||||
Operating Segments [Member] | Corporate Segment [Member] | ||||||||||
Net income (loss) | (1,127,694) | (315,943) | (2,461,908) | (754,200) | ||||||
Operating Segments [Member] | U.S.A Investment Fund Management [Member] | ||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 6,149,415 | 2,839,718 | 13,185,716 | 5,880,287 | ||||||
Net income (loss) | 2,269,276 | 77,830 | 5,498,271 | 286,368 | ||||||
Operating Segments [Member] | New Zealand Food Industry Segment [Member] | ||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,134,402 | 1,320,357 | 4,191,974 | 2,570,334 | ||||||
Net income (loss) | 239,830 | 156,235 | 332,128 | 257,487 | ||||||
Operating Segments [Member] | Canada Security Alarm [Member] | ||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 617,780 | 733,533 | 1,297,222 | 1,506,753 | ||||||
Net income (loss) | $ 31,610 | $ 64,729 | $ 198,693 | $ 167,174 | ||||||
[1] | Provision for income tax (expense) benefit for the three months ended December 31, 2020 and 2019 were ($0.4) million and $41 thousand, respectively, primarily attributable to our United States operations through our Wainwright subsidiary. The Company files income taxes as a combined group and records most income taxes at the Concierge Corporate reporting level. Income tax (expense) recorded at the Concierge Corporate level totaled ($0.3) million for the three months ended December 31, 2020, while a tax benefit of $76 thousand was recorded for the three months ended December 31, 2019. | |||||||||
[2] | Provision for income tax (expense) benefit for the six months ended December 31, 2020 and 2019 are ($1.2) million and $12 thousand, respectively, primarily attributable to our United States operations through our Wainwright subsidiary. The Company files income taxes as a combined group and records most income taxes at the Concierge Corporate level. Income tax (expense) recorded at the Concierge Corporate level totaled ($1.0) million for the six months ended December 31, 2020, while a tax benefit of $125 thousand was recorded for the six months ended December 31, 2019. |