San Clemente, Calif., February 14, 2022—Concierge Technologies, Inc. (OTC Pink: CNCG), a diversified global holding firm, today reported financial results for the second fiscal quarter and six months ended December 31, 2021.

Revenues for the second fiscal quarter totaled $9,445,116, compared with $9,961,822 a year ago. Net income for the most recent three-month period was $1,023,335, equal to $0.03 per fully diluted per share, compared with $1,351,788, or $0.04 per fully diluted share, last year.

“Each of our operating subsidiaries posted income from operations for the second fiscal quarter as they continued to pursue growth opportunities through new products and sales channel expansion,” said David Neibert, Concierge Technologies’ Chief Operations Officer. “At the top level, we continued our investment in our new proprietary mobile banking app platform that seeks to fit each individual’s unique appetite for sending, receiving, spending and saving money securely through mobile devices. It is currently in development stage prior to beta launch.”

For the three-month period ended December 31, 2021, Wainwright Holdings, Inc., which comprises the Company’s largest operating segment – financial services – had revenues of $5,701,384 versus $6,149,415 a year ago. Average assets under management (“AUM”) for the fiscal 2022 second quarter amounted to $4.2 billion, versus $4.9 billion last year, resulting in operating income of $2.0 million for the quarter ended December 31, 2021, versus of $2.3 million a year ago.

The Company’s other operating subsidiaries, Gourmet Foods, Printstock Products, Original Sprout and Brigadier Security Systems all experienced relatively flat revenues for the current quarter versus the prior year period, with a revenue decline of 1.8% for the entire group. As with the preceding first quarter of fiscal 2022, net income again was negatively impacted principally by global supply chain and shipping challenges for the Company’s New Zealand operations, and at California-based Original Sprout, which experienced significantly higher in-bound and out-bound freight expenses. As a result, operating income for the fiscal 2022 second quarter declined by approximately 11%, for these subsidiaries as a group, as compared with the three months ended December 31, 2020. Despite those challenges, each of these subsidiaries produced operating income and positive cash flows for the three and six months ended December 31, 2021.

Concierge Technologies’ balance sheet remains strong. Total assets at December 31, 2021 amounted to $30,876,434, compared with $31,507,680 at June 30, 2021. Cash and cash equivalents at the close of the 2022 second fiscal quarter were $13,385,452, versus $16,072,955 at June 30, 2021. Stockholders’ equity was $34,338,396 at the end of the second fiscal quarter, compared with $35,286,664 at the close of the prior fiscal year. The Company remains essentially debt free.

For the first half of fiscal 2022, consolidated revenues totaled $14,105,454, compared with $15,926,296 for the first six months of the prior fiscal year. A net loss of $857,656, equal to a loss of $.02 per share, was recorded for the six-month period ended December 31, 2021 as compared to net income of $3,571,222, or $.09 per fully diluted share, for the six months ended December 31, 2020. The loss for the current year reflects a $2.5 million settlement for the resolution of a legal matter in connection with the Company’s indirect subsidiary, United States Commodity Funds, LLC (“USCF Investments”) and United States Oil Fund, LP, which are related business units of Concierge’s Wainwright subsidiary. This expense was recorded in the quarter ended September 30, 2021 and is also the primary reason for the decline in cash and cash equivalents as December 31, 2021 as compared with June 30, 2021.

“From a corporate perspective, we remain laser-focused on putting strategies in place to achieve our long-term goal of enhancing shareholder value through sustainable, profitable growth,” said Nicholas Gerber, Chief Executive Officer. “Proceeding into the second half of our fiscal year, we look forward to continued progress on our mobile fintech app to be launched by our Marygold & Co. subsidiary. With a solid base of operations and strong cash flow provided by our established core businesses, we are positioned quite nicely to venture into the next phase of corporate growth in the rapidly emerging world of financial technology.”

Business Units

Gourmet Foods,, acquired in August 2015, is a commercial-scale bakery that produces and distributes iconic meat pies and pastries throughout New Zealand under the brand names Pat’s Pantry and Ponsonby Pies. Acquired by Gourmet Foods in July 2020, Printstock Products Limited, is a printer of specialized food wrappers and is located in Napier, New Zealand. Its operations are consolidated with those of Gourmet Foods.

Brigadier Security Systems,, acquired in June 2016 and headquartered in Saskatoon, Canada, provides comprehensive security solutions to homes and businesses, government offices, schools and other public buildings throughout the province under the brands Brigadier Security Systems in Saskatoon and Elite Security in Regina, Canada.

The Company’s USCF Investments operation,, acquired as part of the Wainwright Holdings transaction in December 2016 and based in Walnut Creek, Calif., serves as manager, operator or investment adviser to 10 exchange traded products, structured as limited partnerships or investment trusts that issue shares trading on the NYSE Arca.

Acquired by Concierge at the end of 2017, San Clemente, Calif.-based Original Sprout,, produces and distributes a full line of vegan, safe, non-toxic hair and skin care products, including a “reef safe” sun screen, in the U.S. and its territories, the U.K., E.U., Turkey, Middle East, Africa, Taiwan, Mexico, South America, Singapore, Hong Kong, Malaysia, New Zealand, Australia and Canada among other areas.

Marygold & Co., formed in the U.S. during 2019 and operating from offices in Denver, CO, together with its wholly owned subsidiary, Marygold & Co. Advisory Services, LLC, was established to explore opportunities in the financial technology sector. The company continues in the development stage as it works toward introduction of a fintech mobile banking app.

Marygold & Co. (UK) Limited, formed in the U.K. in 2021 and located in London, England for the purpose of acquiring interests in certified financial advisors and asset managers in the U.K. No acquisitions have yet been made and the company is continuing its due diligence efforts. 

About Concierge Technologies, Inc.

Concierge Technologies, originally founded in 1996, was repositioned as a global holding firm in 2015, and currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit 

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” ”forecast,” “anticipate,” “intend,” “plan,” “may” “will,” “could,” “should” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements, including, but not limited to the launch of the Company’s fintech mobile banking app, involve significant risks and uncertainties that could cause actual results to differ materially from the expected results and, consequently, should not be relied upon as predictions of future events. These forward-looking statements, including the factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 22, 2021, and in the Company’s other filings with the Securities and Exchange Commission, are not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

Media and investors, for more Information, contact:
Roger S. Pondel
PondelWilkinson Inc.

Contact the Company:
David Neibert, Chief Operations Officer


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