CONCIERGE
TECHNOLOGIES, INC.
|
(Exact name of registrant as specified in its charter) |
3615
Superior Avenue, Suite 3100A
Cleveland,
OH 44114
866-921-9434
|
(Address
and telephone number of registrant's principal
executive
offices and principal place of
business)
|
Page | ||||
PART I - FINANCIAL INFORMATION | 3 | |||
Item 1. | Financial Statements | 3 | ||
Item 2. |
Management’s
Discussion and Analysis of Financial Condition
and
Results of Operations
|
16 | ||
Item 4. | Controls and Procedures | 17 | ||
PART II – OTHER INFORMATION | 18 | |||
Item 1. | Legal Proceedings | 18 | ||
Item 2. | Unregistered Sales of Equity Securities | 18 | ||
Item 5. | Other Information | 18 | ||
Item 6. | Exhibits | 19 | ||
SIGNATURES | 21 |
Page | ||||
Consolidated
Balance Sheets (Unaudited)
|
4 | |||
Consolidated
Statements of Operations For The Three and Six Month
|
||||
Periods
Ended December 31, 2009 and 2008
|
||||
and
the Period from September 20, 1996 (Inception) to
|
||||
December
31, 2009 (Unaudited)
|
5 | |||
Statements
of Changes in Stockholders’ Deficit For The
|
||||
Six
Month Periods Ended December 31, 2009 and 2008
|
||||
and
for the Period from September 20, 1996 (Inception) to
|
||||
December
31, 2009 (Unaudited)
|
6 | |||
Consolidated
Statements of Cash Flows For The Six Month Periods
|
||||
Ended
December 31, 2009 and 2008 and the Period from
|
||||
September
20, 1996 (Inception) to December 31, 2009
|
||||
(Unaudited)
|
8 | |||
Notes
to Unaudited Financial Statements
|
9 |
(A
development stage company)
|
||||||||
CONSOLIDATED
BALANCE SHEETS
|
||||||||
(Unaudited)
|
||||||||
December
31, 2009
|
June
30, 2009
|
|||||||
ASSETS
|
||||||||
CURRENT
ASSETS:
|
||||||||
Cash
& cash equivalents
|
$ | 535 | $ | 2,566 | ||||
Account
Receivable
|
3,099 | 4,145 | ||||||
Inventory
|
- | 196 | ||||||
Total
current assets
|
3,634 | 6,907 | ||||||
Property
and Equipment, net
|
12,919 | 20,744 | ||||||
Total
Assets
|
$ | 16,553 | $ | 27,651 | ||||
LIABILITIES AND STOCKHOLDERS'
DEFICIT
|
||||||||
CURRENT
LIABILITIES:
|
||||||||
Accounts
payable and accrued expenses
|
$ | 301,521 | $ | 308,525 | ||||
Due
to related party
|
3,547 | 2,398 | ||||||
Sales
paid in advance
|
2,245 | 1,976 | ||||||
Notes
payable - related parties
|
142,500 | 142,500 | ||||||
Total
current liabilities
|
449,813 | 455,399 | ||||||
COMMITMENT
|
||||||||
STOCKHOLDERS'
DEFICIT:
|
||||||||
Preferred
stock, 10,000,000 authorized par $0.001
|
||||||||
Series
A: 5,000,000 shares issued
|
5,000 | 5,000 | ||||||
Series
B: 1,600,000 shares issued
|
1,600 | 1,000 | ||||||
Common
stock, $0.001 par value; 190,000,000 shares authorized; 184,315,200 and
178,231,867 shares issued and outstanding at December 31, 2009 and June
30, 2009, respectively
|
184,315 | 178,232 | ||||||
Additional
paid-in capital
|
3,727,505 | 3,682,896 | ||||||
Deficit
accumulated during the development stage
|
(4,351,680 | ) | (4,294,876 | ) | ||||
Total
stockholders' deficit
|
(433,260 | ) | (427,748 | ) | ||||
Total
Liabilities and Stockholders' Deficit
|
$ | 16,553 | $ | 27,651 |
(A
development stage company)
|
||||||||||||||||||||
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
||||||||||||||||||||
FOR
THE THREE AND SIX MONTH PERIODS ENDED DECEMBER 31, 2009 AND
2008
|
||||||||||||||||||||
AND
FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO DECEMBER 31,
2009
|
||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||
For
The Three-Month Periods Ended
|
For
The Six Month Periods Ended
|
For
The Period From September 20, 1996 (Inception) to December 31,
2009
|
||||||||||||||||||
December
31,
|
December
31,
|
|||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||
NET
REVENUE
|
$ | 5,700 | $ | 8,205 | $ | 13,940 | $ | 14,761 | $ | 71,562 | ||||||||||
Cost
of Revenue
|
9,228 | 13,955 | 24,051 | 22,419 | 115,252 | |||||||||||||||
GROSS
PROFIT (LOSS)
|
(3,528 | ) | (5,750 | ) | (10,110 | ) | (7,658 | ) | (43,689 | ) | ||||||||||
COSTS
AND EXPENSES
|
||||||||||||||||||||
Product
Launch Expenses
|
- | - | - | - | 1,077,785 | |||||||||||||||
Impairment
of Assets
|
- | - | - | - | 1,196,383 | |||||||||||||||
General
& Administrative Expenses
|
30,177 | 12,618 | 40,158 | 21,250 | 1,746,706 | |||||||||||||||
TOTAL
COSTS AND EXPENSES
|
30,177 | 12,618 | 40,158 | 21,250 | 4,020,874 | |||||||||||||||
OTHER
INCOME (EXPENSES)
|
||||||||||||||||||||
Other
Income
|
- | - | - | - | 241 | |||||||||||||||
Interest
Expense
|
(2,869 | ) | (2,869 | ) | (5,737 | ) | (5,737 | ) | (39,924 | ) | ||||||||||
Unallocated
accrued expenses reversed
|
- | - | - | - | 150,123 | |||||||||||||||
Settlement
Income/(Loss)
|
- | - | - | - | 52,600 | |||||||||||||||
Loss
on debt settlement
|
- | - | - | - | (23,033 | ) | ||||||||||||||
Litigation
Settlement
|
- | - | - | - | (135,000 | ) | ||||||||||||||
TOTAL
OTHER INCOME (EXPENSES)
|
(2,869 | ) | (2,869 | ) | (5,737 | ) | (5,737 | ) | 5,007 | |||||||||||
NET
LOSS BEFORE INCOME TAXES
|
(36,574 | ) | (21,237 | ) | (56,006 | ) | (34,646 | ) | (4,059,557 | ) | ||||||||||
Provision
of Income Taxes
|
- | - | 800 | 800 | 13,600 | |||||||||||||||
NET
LOSS
|
$ | (36,574 | ) | $ | (21,237 | ) | $ | (56,806 | ) | $ | (35,446 | ) | $ | (4,073,157 | ) | |||||
WEIGHTED
AVERAGE SHARES OF COMMON STOCK
|
||||||||||||||||||||
OUTSTANDING,
BASIC AND DILUTED
|
232,909,522 | 213,449,258 | 228,044,253 | 208,340,563 | ||||||||||||||||
*BASIC
AND DILUTED NET LOSS PER SHARE
|
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | ||||||||
*
Weighted average number of shares used to compute basic and diluted loss
per share is the same as the effect of dilutive securities are anti
dilutive.
|
CONCIERGE
TECHNOLOGIES, INC. AND SUBSIDIARIES
|
||||||||||||||||||||||||||||||||||||||||
(A
development stage company)
|
||||||||||||||||||||||||||||||||||||||||
STATEMENTS
OF CHANGES IN STOCKHOLDERS' DEFICIT
|
||||||||||||||||||||||||||||||||||||||||
FOR
THE SIX-MONTH PERIOD ENDED DECEMBER 31, 2009
|
||||||||||||||||||||||||||||||||||||||||
AND
FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO DECEMBER 31,
2009
|
||||||||||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Additional Paid In Capital |
Common
Stock
|
|||||||||||||||||||||||||||||||||||||
Number
of
|
Par
|
Number
of
|
Par
|
Shares
|
Accumulated
|
Stockholders'
|
Advance
|
Subject
to
|
||||||||||||||||||||||||||||||||
Shares
|
Value
|
Shares
|
Value
|
to
Be Issued
|
Deficit
|
Deficit
|
Subscriptions
|
Contingency
|
||||||||||||||||||||||||||||||||
Common
Stock issued for cash
|
||||||||||||||||||||||||||||||||||||||||
through
June 30, 1997
|
- | $ | - | 176,306 | $ | 1,763 | $ | 106,162 | $ | - | $ | - | $ | 107,925 | $ | - | $ | - | ||||||||||||||||||||||
Common
stock issued for services
|
||||||||||||||||||||||||||||||||||||||||
through
June 30, 1997
|
- | - | 621,545 | 6,215 | - | - | - | 6,215 | - | - | ||||||||||||||||||||||||||||||
Net
loss through June 30, 1997
|
- | - | - | - | - | - | (96,933 | ) | (96,933 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 1997
|
- | - | 797,851 | 7,978 | 106,162 | - | (96,933 | ) | 17,207 | - | - | |||||||||||||||||||||||||||||
Common
Stock issued for cash
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 1998
|
- | - | 137,475 | 1,375 | 194,650 | - | - | 196,025 | - | - | ||||||||||||||||||||||||||||||
Common
stock issued for services
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 1998
|
- | - | 22,550 | 226 | - | - | - | 226 | - | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 1998
|
- | - | - | - | - | - | (283,891 | ) | (283,891 | ) | - | - | ||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
Balance
at June 30, 1998
|
- | - | 957,876 | 9,579 | 300,812 | - | (380,824 | ) | (70,433 | ) | - | - | ||||||||||||||||||||||||||||
Common
Stock issued for cash
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 1999
|
- | - | 208,000 | - | - | - | - | - | - | 60,996 | ||||||||||||||||||||||||||||||
Common
stock issued for services
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 1999
|
- | - | 450 | - | - | - | - | - | - | 4 | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 1999
|
- | - | - | - | - | - | (89,919 | ) | (89,919 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 1999
|
- | - | 1,166,326 | 9,579 | 300,812 | - | (470,743 | ) | (160,352 | ) | - | 61,000 | ||||||||||||||||||||||||||||
Acquisition
and retirement of Common shares
|
- | - | (262,000 | ) | (2,620 | ) | - | - | - | (2,620 | ) | - | - | |||||||||||||||||||||||||||
Common
Stock issued for cash
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 2000
|
- | - | 117,184 | - | - | - | - | - | - | 202,061 | ||||||||||||||||||||||||||||||
Common
stock issued for services
|
||||||||||||||||||||||||||||||||||||||||
in
the year ended June 30, 2000
|
- | - | 354,870 | - | - | - | - | - | - | 3,549 | ||||||||||||||||||||||||||||||
Post
acquisition stock subscription funds
|
||||||||||||||||||||||||||||||||||||||||
received
net of costs & expenses of $79,710
|
- | - | - | - | - | - | - | - | 1,175,790 | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2000
|
- | - | - | - | - | - | (986,986 | ) | (986,986 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2000
|
- | - | 1,376,380 | 6,959 | 300,812 | - | (1,457,729 | ) | (1,149,958 | ) | 1,175,790 | 266,610 | ||||||||||||||||||||||||||||
Post
acquisition stock subscription funds
|
||||||||||||||||||||||||||||||||||||||||
received
|
- | - | - | - | - | - | - | - | 487,500 | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2001
|
- | - | - | - | - | - | (544,080 | ) | (544,080 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2001
|
- | - | 1,376,380 | 6,959 | 300,812 | - | (2,001,809 | ) | (1,694,038 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Recapitalization
upon merger
|
- | - | 118,681,333 | 113,099 | (300,812 | ) | - | (278,527 | ) | (466,240 | ) | - | - | |||||||||||||||||||||||||||
Stock
subscription received for 500,000 shares
|
- | - | - | - | - | 29,983 | - | 29,983 | - | - | ||||||||||||||||||||||||||||||
Stock
issued for services
|
- | - | 2,532,581 | 119,031 | - | - | - | 119,031 | - | - | ||||||||||||||||||||||||||||||
Stock
to be issued for services-3,275,472 shares
|
- | - | - | - | - | 153,947 | - | 153,947 | - | - | ||||||||||||||||||||||||||||||
Adjustment
to paid in capital on merger
|
- | - | - | (116,499 | ) | 116,499 | - | - | - | - | - | |||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2002
|
- | - | - | - | - | - | (478,229 | ) | (478,229 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2002
|
- | - | 122,590,294 | 122,590 | 116,499 | 183,930 | (2,758,565 | ) | (2,335,546 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Stock
issued for subscription received in the prior year
|
- | - | 500,000 | 500 | 29,483 | (29,983 | ) | - | - | - | - | |||||||||||||||||||||||||||||
Stock
issued for services included in the prior period
|
- | - | 3,275,472 | 3,275 | 150,672 | (153,947 | ) | - | - | - | - | |||||||||||||||||||||||||||||
Forfeiture
of stock subscription
|
- | - | - | - | 10,000 | - | - | 10,000 | - | - | ||||||||||||||||||||||||||||||
Cancellation
of over issued shares on recapitalization
|
- | - | (73,017 | ) | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2003
|
- | - | - | - | - | - | (47,272 | ) | (47,272 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2003
|
- | - | 126,292,749 | 126,365 | 306,654 | - | (2,805,837 | ) | (2,372,818 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Adjustment
to par value
|
- | - | - | (72 | ) | 72 | - | - | - | - | - | |||||||||||||||||||||||||||||
Issuance
of shares for cash
|
- | - | 2,000,000 | 2,000 | 18,000 | - | - | 20,000 | - | - | ||||||||||||||||||||||||||||||
Issuance
of shares for services
|
- | - | 4,000,000 | 4,000 | 212,000 | - | - | 216,000 | - | - | ||||||||||||||||||||||||||||||
Issuance
of shares for acquisition of Planet Halo
|
- | - | 9,999,998 | 10,000 | 490,000 | - | - | 500,000 | - | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2004
|
- | - | - | - | - | - | (514,639 | ) | (514,639 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2004
|
- | - | 142,292,747 | 142,293 | 1,026,726 | - | (3,320,476 | ) | (2,151,457 | ) | 1,663,290 | 266,610 |
CONCIERGE
TECHNOLOGIES, INC. AND SUBSIDIARIES
|
||||||||||||||||||||||||||||||||||||||||
(A
development stage company)
|
||||||||||||||||||||||||||||||||||||||||
STATEMENTS
OF CHANGES IN STOCKHOLDERS' DEFICIT
|
||||||||||||||||||||||||||||||||||||||||
FOR
THE SIX-MONTH PERIOD ENDED DECEMBER 31, 2009
|
||||||||||||||||||||||||||||||||||||||||
AND
FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO DECEMBER 31,
2009
|
||||||||||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Additional Paid In Capital |
Common
Stock
|
|||||||||||||||||||||||||||||||||||||
Number
of
|
Par
|
Number
of
|
Par
|
Shares
|
Accumulated
|
Stockholders'
|
Advance
|
Subject
to
|
||||||||||||||||||||||||||||||||
Shares
|
Value
|
Shares
|
Value
|
to
Be Issued
|
Deficit
|
Deficit
|
Subscriptions
|
Contingency
|
||||||||||||||||||||||||||||||||
|
- |
Reclassify
contingent liabilities to Additional Paid In Capital
|
- | - | - | - | 1,929,900 | - | - | 1,929,900 | (1,663,290 | ) | (266,610 | ) | ||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2005
|
- | - | - | - | - | - | (544,284 | ) | (544,284 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2005
|
- | - | 142,292,747 | 142,293 | 2,956,626 | - | (3,864,761 | ) | (765,841 | ) | - | - | ||||||||||||||||||||||||||||
Loans
converted to Paid in Capital
|
- | - | - | - | 281,708 | - | - | 281,708 | - | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2006
|
- | - | - | - | - | - | (44,552 | ) | (44,552 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2006
|
- | - | 142,292,747 | 142,293 | 3,238,334 | - | (3,909,313 | ) | (528,686 | ) | - | - | ||||||||||||||||||||||||||||
Issuance
of shares for services
|
- | - | 5,000,000 | 5,000 | 30,000 | - | - | 35,000 | - | - | ||||||||||||||||||||||||||||||
Issuance
of shares for cash
|
- | - | 27,027,027 | 27,027 | 62,973 | - | - | 90,000 | - | - | ||||||||||||||||||||||||||||||
Issuance
of shares for debt settlement
|
- | - | 3,003,003 | 3,003 | 30,030 | - | - | 33,033 | - | - | ||||||||||||||||||||||||||||||
Net
income for the year ended June 30, 2007
|
- | - | - | - | - | - | 38,214 | 38,214 | - | - | ||||||||||||||||||||||||||||||
Balance
at June 30, 2007
|
- | - | 177,322,777 | 177,323 | 3,361,337 | - | (3,871,095 | ) | (332,434 | ) | - | - | ||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2008
|
- | - | - | - | - | - | (350,866 | ) | (350,866 | ) | - | - | ||||||||||||||||||||||||||||
Shares
issued for cash
|
- | - | 909,090 | 909 | 9,091 | - | - | 10,000 | - | - | ||||||||||||||||||||||||||||||
Issuance
of Shares for Purchase of Wireless Village
|
5,000,000 | 5,000 | - | - | 245,000 | - | - | 250,000 | - | - | ||||||||||||||||||||||||||||||
Balance
at June 30, 2008
|
5,000,000 | 5,000 | 178,231,867 | 178,232 | 3,615,428 | - | (4,221,961 | ) | (423,301 | ) | - | - | ||||||||||||||||||||||||||||
Shares
issued for cash
|
1,000,000 | 1,000 | - | - | 49,000 | - | - | 50,000 | - | - | ||||||||||||||||||||||||||||||
Debt
settlement with a shareholder
|
- | - | - | - | 18,468 | - | - | 18,468 | - | - | ||||||||||||||||||||||||||||||
Net
loss for the year ended June 30, 2009
|
- | - | - | - | - | - | (72,915 | ) | (72,915 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at June 30, 2009
|
6,000,000 | 6,000 | 178,231,867 | 178,232 | 3,682,896 | - | (4,294,876 | ) | (427,748 | ) | - | - | ||||||||||||||||||||||||||||
Preferred
shares issued for cash
|
600,000 | 600 | - | - | 29,400 | - | - | 30,000 | - | - | ||||||||||||||||||||||||||||||
Common
shares issued for compensation
|
- | - | 6,083,333 | 6,083 | 15,209 | - | - | 21,293 | - | - | ||||||||||||||||||||||||||||||
Net
loss for the quarter ended December 31, 2009
|
- | - | - | - | - | - | (56,805 | ) | (56,805 | ) | - | - | ||||||||||||||||||||||||||||
Balance
at December 31, 2009
|
6,600,000 | $ | 6,600 | 184,315,200 | $ | 184,315 | $ | 3,727,505 | $ | - | $ | (4,351,680 | ) | $ | (433,260 | ) | $ | - | $ | - |
CONCIERGE
TECHNOLOGIES, INC. AND SUBSIDIARIES
|
||||||||||||
(A
development stage company)
|
||||||||||||
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
||||||||||||
FOR
THE SIX-MONTH PERIODS ENDED DECEMBER 31, 2009 AND 2008
|
||||||||||||
AND
FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO DECEMBER 31,
2009
|
||||||||||||
(Unaudited)
|
||||||||||||
For
the period from September 20, 1996 (inception) to December 31,
2009
|
||||||||||||
For
the Six Month Periods Ended
|
||||||||||||
December
31,
|
||||||||||||
2009
|
2008
|
|||||||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||
Net
loss
|
$ | (56,806 | ) | (35,446 | ) | $ | (4,073,157 | ) | ||||
Adjustments
to reconcile net loss to net cash used in
|
||||||||||||
operating
activities:
|
||||||||||||
Impairment
of goodwill/asset
|
- | - | 950,583 | |||||||||
Depreciation
and amortization
|
8,956 | 6,014 | 33,483 | |||||||||
Stock
issued for services
|
21,293 | - | 552,645 | |||||||||
Loss
on settlement of debts
|
- | - | 23,033 | |||||||||
Unallocated
accrued expense reversed
|
- | - | (150,123 | ) | ||||||||
Increase
(decrease) in current assets:
|
||||||||||||
Accounts
Receivable
|
1,046 | 540 | (3,099 | ) | ||||||||
Inventory
|
196 | - | (245,801 | ) | ||||||||
Increase
(decrease) in current liabilities:
|
||||||||||||
Advance
subscription
|
269 | (381 | ) | 2,245 | ||||||||
Accounts
payable & Accrued expense
|
(7,002 | ) | (11,424 | ) | 372,465 | |||||||
Net
cash used in operating activities
|
(32,050 | ) | (40,697 | ) | (2,537,726 | ) | ||||||
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||
Cash
received on acquisition of subsidiary
|
- | - | 34,421 | |||||||||
Note
Due - related party
|
- | (8,433 | ) | (81,808 | ) | |||||||
Purchase
of equipment
|
(1,130 | ) | - | (46,155 | ) | |||||||
Net
cash provided by (used in) investing activities
|
(1,130 | ) | (8,433 | ) | (93,542 | ) | ||||||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||
Due
from/to related party
|
1,149 | - | 9,023 | |||||||||
Proceeds
from Shares to be Issued
|
- | - | 737,007 | |||||||||
Proceeds
from sale of preferred stock
|
30,000 | 50,000 | 30,000 | |||||||||
Proceeds
from stock subscription forfeited
|
- | - | 10,000 | |||||||||
Proceeds
from advance subscriptions
|
- | - | 1,772,983 | |||||||||
Costs
and expenses of advance subscriptions
|
- | - | (79,710 | ) | ||||||||
Proceeds
from related party loans
|
- | - | 152,500 | |||||||||
Net
cash provided by financing activities
|
31,149 | 50,000 | 2,631,803 | |||||||||
NET
INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS
|
(2,031 | ) | 871 | 535 | ||||||||
CASH
& CASH EQUIVALENTS, BEGINNING BALANCE
|
2,566 | 5,820 | - | |||||||||
CASH
& CASH EQUIVALENTS, ENDING BALANCE
|
$ | 535 | 6,691 | $ | 535 |
1.
|
DESCRIPTION
OF BUSINESS AND BASIS OF
PRESENTATION
|
2.
|
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
|
3.
|
RECENT
PRONOUNCEMENTS
|
5.
|
DUE
TO RELATED PARTY
|
December
31, 2009
|
June
30, 2009
|
|||||||
Account
payable
|
$ | 99,933 | $ | 98,526 | ||||
Accrued
judgment
|
135,000 | 135,000 | ||||||
Accrued
interest
|
63,088 | 57,499 | ||||||
Accrued
accounting fees
|
3,500 | 17,500 | ||||||
Total
|
$ | 301,521 | $ | 308,525 |
Notes
payable consisted of the following at:
|
December
31, 2009
|
June
30, 2009
|
||||||
Notes
payable to shareholder, interest rate of 8%, unsecured and payable on
October 1, 2006 (past due)
|
$ | 35,000 | $ | 35,000 | ||||
Notes
payable to director/shareholder, non-interest bearing unsecured and
payable on demand
|
8,500 | 8,500 | ||||||
Notes
payable to shareholder, interest rate of 10%, unsecured and payable on
July 31, 2004 (past due)
|
5,000 | 5,000 | ||||||
Notes
payable to shareholder, interest rate of 10%, unsecured and payable on
October 1, 2004 (past due)
|
28,000 | 28,000 | ||||||
Notes
payable to shareholder, interest rate of 8%, unsecured and payable on
October 1, 2004 (past due)
|
14,000 | 14,000 | ||||||
Notes
payable to director/shareholder, interest rate of 8%,
unsecured
and payable on September 1, 2004 (past due)
|
3,500 | 3,500 | ||||||
Notes
payable to shareholder, interest rate of 8%, unsecured and payable on
October 1, 2005 (past due)
|
20,000 | 20,000 | ||||||
Notes
payable to director/shareholder, interest rate of 8%, unsecured and
payable on February 1, 2006 (past due)
|
5,000 | 5,000 | ||||||
Notes
payable to director/shareholder, interest rate of 8%, unsecured and
payable on June 1, 2006 (past due)
|
5,000 | 5,000 | ||||||
Notes
payable to director/shareholder, interest rate of 8%, unsecured and
payable on February 1, 2006 (past due)
|
2,500 | 2,500 | ||||||
Notes
payable to director/shareholder, interest rate of 6%, unsecured and
payable on September 1, 2007 (past due)
|
1,000 | 1,000 | ||||||
Notes
payable to shareholder, interest rate of 8%, unsecured and payable on
November 1, 2007 (past due)
|
15,000 | 15,000 | ||||||
Total
Notes Payable
|
$ | 142,500 | $ | 142,500 |
Exhibit | Item | ||
2 |
Stock
Purchase Agreement of March 6, 2000 between Starfest, Inc. and MAS
Capital, Inc.*
|
||
2 |
Stock
Purchase Agreement among Concierge Technologies, Inc., Wireless Village,
Inc., Bill Robb and Daniel Britt.++
|
||
3.1 |
Certificate
of Amendment of Articles of Incorporation of Starfest, Inc. and its
earlier articles of incorporation.*
|
||
3.2 |
Bylaws
of Concierge, Inc., which became the Bylaws of Concierge Technologies upon
its merger with Starfest, Inc. on March 20, 2002.*
|
||
3.5 |
Articles
of Merger of Starfest, Inc. and Concierge, Inc. filed with the Secretary
of State of Nevada on March 1, 2002.**
|
||
3.6 |
Agreement
of Merger between Starfest, Inc. and Concierge, Inc. filed with the
Secretary of State of California on March 20, 2002.**
|
||
3.7 |
Articles
of Incorporation of Concierge Technologies, Inc. filed with the Secretary
of State of Nevada on April 20, 2005.+
|
||
3.8 |
Articles
of Merger between Concierge Technologies, Inc., a California corporation,
and Concierge Technologies, Inc., a Nevada corporation, filed with the
Secretary of State of Nevada on March 2, 2006 and the Secretary of State
of California on October 5, 2006.+
|
||
10.1 |
Agreement
of Merger between Starfest, Inc. and Concierge, Inc.*
|
||
14 | Code of Ethics for CEO and Senior Financial Officers.*** | ||
31.1 |
Certification
of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.
|
31.2 |
Certification
of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.
|
||
32.1 |
Certification
of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
||
32.2 |
Certification
of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
|
*Previously
filed with Form 8-K12G3 on March 10, 2000; Commission File No. 000-29913,
incorporated herein.
|
|
**Previously
filed with Form 8-K on April 2, 2002; Commission File No. 000-29913,
incorporated herein.
|
|
***Previously
filed with Form 10-K FYE 06-30-04 on October 13, 2004; Commission File No.
000-29913, incorporated herein.
|
|
+Previously
filed with Form 10-K FYE 06-30-06 on October 13, 2006; Commission File No.
000-29913, incorporated herein.
|
|
++Previously
filed on November 5, 2007 as Exhibit 10.2 to Concierge Technologies’ Form
8-K for the Current Period 10-30-07; Commission File No. 000-29913,
incorporated herein.
|
CONCIERGE TECHNOLOGIES, INC. | |||
Dated: February
16, 2010
|
By:
|
/s/David W. Neibert | |
David W. Neibert, Chief Executive Officer | |||