Nevada
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333-38838
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95-4442384
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(state of incorporation) | (Commission File Number) | (IRS Employer I.D. Number) |
PART I | |||||
ITEM 1 | Business | 1 | |||
ITEM 2 | Properties | 3 | |||
ITEM 3 | Legal Proceedings | 4 | |||
ITEM 4 | Submission of Matters to a Vote of Security Holders | 4 | |||
PART II | |||||
ITEM 5 | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 4 | |||
ITEM 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 9 | |||
ITEM 8 | Financial Statements and Supplementary Data | 12 | |||
ITEM 9 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 29 | |||
ITEM 9A | Controls and Procedures | 29 | |||
ITEM 9B | Other Information | 29 | |||
30 | |||||
PART III | |||||
ITEM 10 | Directors, Executive Officers and Corporate Governance | 30 | |||
ITEM 11 | Executive Compensation | 34 | |||
ITEM 12 | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 35 | |||
ITEM 13 | Certain Relationships and Related Transactions, and Director Independence | 37 | |||
ITEM 14 | Principal Accounting Fees and Services | 37 | |||
PART IV | |||||
ITEM 15 | Exhibits, Financial Statement Schedules | 39 |
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Starfest was the surviving corporation,
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The shareholders of Concierge received pro rata for their shares of common stock of Concierge, 99,957,713 shares of common stock of Starfest in the merger, and all shares of capital stock of Concierge were cancelled,
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The fiscal year-end of the corporation was changed to June 30,
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The officers and directors of Concierge became the officers and directors of Starfest, and
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The name of Starfest was changed to "Concierge Technologies, Inc."
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High | Low | |||
Calendar 2008 | ||||
3 rd Qtr. | 0.0063 | 0.0042 | ||
4 th Qtr | 0.005 | 0.003 | ||
Calendar 2009 | ||||
1 st Qtr. | 0.005 | 0.001 | ||
2 nd Qtr. | 0.0041 | 0.0012 | ||
3 rd Qtr. | 0.0045 | 0.001 | ||
4 th Qtr | 0.0045 | 0.003 | ||
Calendar 2010 | ||||
1 st Qtr | 0.005 | 0.0012 | ||
2 nd Qtr | 0.0045 | 0.0012 |
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from retained earnings, or
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if after the dividend is made,
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its tangible assets would equal at least 11/4 times its liabilities, and
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its current assets would at least equal its current liabilities,
or
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if the average of its earnings before income taxes and before interest expenses for the last two years was less than the average of its interest expenses for the last two years, then its current assets must be equal to at least 11/4 times its current liabilities.
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sells for less than $5 a share.
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is not listed on an exchange or authorized for quotation on The Nasdaq Stock Market, and
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is not a stock of a "substantial issuer." We are not now a "substantial issuer" and cannot become one until we have net tangible assets of at least $2 million.
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transactions not recommended by the broker-dealer,
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sales to institutional accredited investors,
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transactions in which the customer is a director, officer, general partner, or direct or indirect beneficial owner of more than 5 percent of any class of equity security of the issuer of the penny stock that is the subject of the transaction, and
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transactions in penny stocks by broker-dealers whose income from penny stock activities does not exceed five percent of their total income during certain defined periods.
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A statement that penny stocks can be very risky, that investors often cannot sell a penny stock back to the dealer that sold them the stock,
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A warning that salespersons of penny stocks are not impartial advisers but are paid to sell the stock,
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The statement that federal law requires the salesperson to tell the potential investor in a penny stock -
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the "offer" and the "bid" on the stock, and
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the compensation the salesperson and his firm will receive for the trade,
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An explanation that the offer price and the bid price are the wholesale prices at which dealers are willing to sell and buy the stock from other dealers, and that in its trade with a customer the dealer may add a retail charge to these wholesale prices,
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A warning that a large spread between the bid and the offer price can make the resale of the stock very costly,
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Telephone numbers a person can call if he or she is a victim of fraud,
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Admonitions -
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to use caution when investing in penny stocks,
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to understand the risky nature of penny stocks,
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to know the brokerage firm and the salespeople with whom one is dealing, and
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to be cautious if ones salesperson leaves the firm.
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Date
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No. of Shares
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Shareholder
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Type of Consideration
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Value of Consideration
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11/14/08
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300,000
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David Neibert
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Cash
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$15,000
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11/14/08
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233,333
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Andrew C.T. Wu
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Cash
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$11,666
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11/14/08
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233,333
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Caroline Kurebayashi
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Cash
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$11,666
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11/14/08
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233,334
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Edward C.D. Wu
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Cash
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$11,667
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11/16/09
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600,000
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Ace Ventures, LLC
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Cash
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$30,000
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Date
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No. of Shares
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Shareholder
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1/28/08
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930,000
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Daniel Britt
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1/28/08
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390,000
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David Neibert
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1/28/08
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390,000
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Marc Angell
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1/28/08
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206,186
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Jan A. and Gail A. Carter
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1/28/08
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412,371
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Mark Triebold
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1/28/08
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60,000
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Thomas Letourneau
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1/28/08
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60,000
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Michael Ager
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1/28/08
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103,093
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Joseph G. Gallo
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1/28/08
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41,237
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Harold Armstrong
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1/28/08
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206,186
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Martin Marietta
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1/28/08
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1,120,928
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Harvey Trifler
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1/28/08
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1,080,000
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Bill Robb
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·
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lowering our cost of doing business in Planet Halo by seeking economical alternatives to leased telecom lines, web hosting and technical services,
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develop and maintain a comprehensive web presence for Wireless Village through an Internet-based portal designed for online sales, dealer support and local advertising,
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expand our involvement in the business of video surveillance systems, data gathering and storage, and seek exclusive distribution agreements for camera and DVR products,
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source and retain staff experienced in the field of video surveillance equipment sales and purchasing,
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engage the assistance of our directors and outside consultants to aggressively pursue financing options and possible acquisition targets in the field of wireless communications, services offered via the Internet, mobile incident reporting and video capture.
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an obligation under a guarantee contract,
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a retained or contingent interest in assets transferred to the unconsolidated entity or similar arrangement that serves as credit, liquidity or market risk support to such entity for such assets,
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an obligation, including a contingent obligation, under a contract that would be accounted for as a derivative instrument, or
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an obligation, including a contingent obligation, arising out of a variable interest in an unconsolidated entity that is held by, and material to, us where such entity provides financing, liquidity, market risk or credit risk support to, or engages in leasing, hedging, or research and development services with, us.
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(A development stage company)
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CONSOLIDATED BALANCE SHEETS
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(A development stage company)
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CONSOLIDATED STATEMENTS OF OPERATIONS
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FOR THE YEARS ENDED JUNE 30, 2010 AND 2009
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AND FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO JUNE 30, 2010
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For the Years
Ended June 30,
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For The
Period
From
September
20, 1996
(Inception)
to
June 30,
2010
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2010
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2009
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NET REVENUE
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$ | 35,605 | $ | 43,424 | $ | 93,227 | ||||||
Cost of Revenue
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54,787 | 52,756 | 145,988 | |||||||||
GROSS PROFIT (LOSS)
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(19,183 | ) | (9,332 | ) | (52,762 | ) | ||||||
COSTS AND EXPENSES
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Product Launch Expenses
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- | - | 1,077,785 | |||||||||
Impairment of Assets
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- | - | 1,196,383 | |||||||||
General & Administrative Expenses
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74,943 | 51,308 | 1,781,491 | |||||||||
TOTAL COSTS AND EXPENSES
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74,943 | 51,308 | 4,055,659 | |||||||||
OTHER INCOME (EXPENSES)
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Other Income
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1,687 | - | 1,928 | |||||||||
Interest Expense
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(11,581 | ) | (11,475 | ) | (45,768 | ) | ||||||
Unallocated accrued expenses reversed
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- | - | 150,123 | |||||||||
Settlement Income
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- | - | 52,600 | |||||||||
Loss on debt settlement
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- | - | (23,033 | ) | ||||||||
Litigation Settlement
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- | - | (135,000 | ) | ||||||||
TOTAL OTHER INCOME (EXPENSES)
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(9,894 | ) | (11,475 | ) | 850 | |||||||
NET LOSS BEFORE INCOME TAXES
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(104,020 | ) | (72,115 | ) | (4,107,571 | ) | ||||||
Provision of Income Taxes
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800 | 800 | 13,600 | |||||||||
NET LOSS
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$ | (104,820 | ) | $ | (72,915 | ) | $ | (4,121,171 | ) | |||
WEIGHTED AVERAGE SHARES OF COMMON STOCK
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OUTSTANDING, BASIC AND DILUTED
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234,643,268 | 215,725,018 | ||||||||||
*BASIC AND DILUTED NET LOSS PER SHARE
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$ | (0.00 | ) | $ | (0.00 | ) |
CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES
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(A development stage company)
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STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
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FOR THE YEAR ENDED JUNE 30, 2010
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AND FOR THE PERIOD FROM SEPTEMBER 20, 1996 (INCEPTION) TO JUNE 30, 2010
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Preferred Stock
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Common Stock
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Additional
Paid In
Capital
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Shares to
Be Issued
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Accumulated
Deficit
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Stockholders'
Deficit
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Advance
Subscriptions
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Common Stock
Subject to
Contingency
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Number of
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Par
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Number of
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Par
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Shares
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Value
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Shares
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Value
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Common Stock issued for cash
through June 30, 1997
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- | $ | - | 176,306 | $ | 1,763 | $ | 106,162 | $ | - | $ | - | $ | 107,925 | $ | - | $ | - | ||||||||||||||||||||||
Common stock issued for services
through June 30, 1997
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- | - | 621,545 | 6,215 | - | - | - | 6,215 | - | - | ||||||||||||||||||||||||||||||
Net loss through June 30, 1997
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- | - | - | - | - | - | (96,933 | ) | (96,933 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 1997
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- | - | 797,851 | 7,978 | 106,162 | - | (96,933 | ) | 17,207 | - | - | |||||||||||||||||||||||||||||
Common Stock issued for cash
in the year ended June 30, 1998
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- | - | 137,475 | 1,375 | 194,650 | - | - | 196,025 | - | - | ||||||||||||||||||||||||||||||
Common stock issued for services
in the year ended June 30, 1998
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- | - | 22,550 | 226 | - | - | - | 226 | - | - | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 1998
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- | - | - | - | - | - | (283,891 | ) | (283,891 | ) | - | - | ||||||||||||||||||||||||||||
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Balance at June 30, 1998
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- | - | 957,876 | 9,579 | 300,812 | - | (380,824 | ) | (70,433 | ) | - | - | ||||||||||||||||||||||||||||
Common Stock issued for cash
in the year ended June 30, 1999
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- | - | 208,000 | - | - | - | - | - | - | 60,996 | ||||||||||||||||||||||||||||||
Common stock issued for services
in the year ended June 30, 1999
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- | - | 450 | - | - | - | - | - | - | 4 | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 1999
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- | - | - | - | - | - | (89,919 | ) | (89,919 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 1999
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- | - | 1,166,326 | 9,579 | 300,812 | - | (470,743 | ) | (160,352 | ) | - | 61,000 | ||||||||||||||||||||||||||||
Acquisition and retirement of Common shares
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- | - | (262,000 | ) | (2,620 | ) | - | - | - | (2,620 | ) | - | - | |||||||||||||||||||||||||||
Common Stock issued for cash
in the year ended June 30, 2000
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- | - | 117,184 | - | - | - | - | - | - | 202,061 | ||||||||||||||||||||||||||||||
Common stock issued for services
in the year ended June 30, 2000
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- | - | 354,870 | - | - | - | - | - | - | 3,549 | ||||||||||||||||||||||||||||||
Post acquisition stock subscription funds
received net of costs & expenses of $79,710
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- | - | - | - | - | - | - | - | 1,175,790 | - | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2000
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- | - | - | - | - | - | (986,986 | ) | (986,986 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 2000
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- | - | 1,376,380 | 6,959 | 300,812 | - | (1,457,729 | ) | (1,149,958 | ) | 1,175,790 | 266,610 | ||||||||||||||||||||||||||||
Post acquisition stock subscription funds
received
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- | - | - | - | - | - | - | - | 487,500 | - | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2001
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- | - | - | - | - | - | (544,080 | ) | (544,080 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 2001
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- | - | 1,376,380 | 6,959 | 300,812 | - | (2,001,809 | ) | (1,694,038 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Recapitalization upon merger
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- | - | 118,681,333 | 113,099 | (300,812 | ) | - | (278,527 | ) | (466,240 | ) | - | - | |||||||||||||||||||||||||||
Stock subscription received for 500,000 shares
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- | - | - | - | - | 29,983 | - | 29,983 | - | - | ||||||||||||||||||||||||||||||
Stock issued for services
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- | - | 2,532,581 | 119,031 | - | - | - | 119,031 | - | - | ||||||||||||||||||||||||||||||
Stock to be issued for services-3,275,472 shares
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- | - | - | - | - | 153,947 | - | 153,947 | - | - | ||||||||||||||||||||||||||||||
Adjustment to paid in capital on merger
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- | - | - | (116,499 | ) | 116,499 | - | - | - | - | - | |||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2002
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- | - | - | - | - | - | (478,229 | ) | (478,229 | ) | - | - |
Balance at June 30, 2002
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- | - | 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
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- | - | 500,000 | 500 | 29,483 | (29,983 | ) | - | - | - | - | |||||||||||||||||||||||||||||
Stock issued for services included in the prior period
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- | - | 3,275,472 | 3,275 | 150,672 | (153,947 | ) | - | - | - | - | |||||||||||||||||||||||||||||
Forfeiture of stock subscription
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- | - | - | - | 10,000 | - | - | 10,000 | - | - | ||||||||||||||||||||||||||||||
Cancellation of over issued shares on recapitalization
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- | - | (73,017 | ) | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2003
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- | - | - | - | - | - | (47,272 | ) | (47,272 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 2003
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- | - | 126,292,749 | 126,365 | 306,654 | - | (2,805,837 | ) | (2,372,818 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Adjustment to par value
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- | - | - | (72 | ) | 72 | - | - | - | - | - | |||||||||||||||||||||||||||||
Issuance of shares for cash
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- | - | 2,000,000 | 2,000 | 18,000 | - | - | 20,000 | - | - | ||||||||||||||||||||||||||||||
Issuance of shares for services
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- | - | 4,000,000 | 4,000 | 212,000 | - | - | 216,000 | - | - | ||||||||||||||||||||||||||||||
Issuance of shares for acquisition of Planet Halo
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- | - | 9,999,998 | 10,000 | 490,000 | - | - | 500,000 | - | - | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2004
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- | - | - | - | - | - | (514,639 | ) | (514,639 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 2004
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- | - | 142,292,747 | 142,293 | 1,026,726 | - | (3,320,476 | ) | (2,151,457 | ) | 1,663,290 | 266,610 | ||||||||||||||||||||||||||||
Reclassify contingent liabilities to Additional Paid In Capital
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- | - | - | - | 1,929,900 | - | - | 1,929,900 | (1,663,290 | ) | (266,610 | ) | ||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2005
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- | - | - | - | - | - | (544,284 | ) | (544,284 | ) | - | - | ||||||||||||||||||||||||||||
Balance at June 30, 2005
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- | - | 142,292,747 | 142,293 | 2,956,626 | - | (3,864,761 | ) | (765,841 | ) | - | - | ||||||||||||||||||||||||||||
Loans converted to Paid in Capital
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- | - | - | - | 281,708 | - | - | 281,708 | - | - | ||||||||||||||||||||||||||||||
Net loss for the year ended June 30, 2006
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- | - | - | - | - | - | (44,552 | ) | (44,552 | ) | - | - |
Balance at June 30, 2006
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- | - | 142,292,747 | 142,293 | 3,238,334 | - | (3,909,313 | ) | (528,686 | ) | - | - | ||||||||||||||||||||||||||||
Issuance of shares for services
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- | - | 5,000,000 | 5,000 | 30,000 | - | - | 35,000 | - | - | ||||||||||||||||||||||||||||||
Issuance of shares for cash
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- | - | 27,027,027 | 27,027 | 62,973 | - | - | 90,000 | - | - | ||||||||||||||||||||||||||||||
Issuance of shares for debt settlement
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- | - | 3,003,003 | 3,003 | 30,030 | - | - | 33,033 | - | - | ||||||||||||||||||||||||||||||
Net income for the year ended June 30, 2007
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- | - | - | - | - | - | 38,214 | 38,214 | - | - | ||||||||||||||||||||||||||||||
Balance at June 30, 2007
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- | - | 177,322,777 | 177,323 | 3,361,337 | - | (3,871,095 | ) | (332,434 | ) | - | - | ||||||||||||||||||||||||||||