Note 6 - Intangible Assets

9 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 6. INTANGIBLE ASSETS

Intangible assets consisted of the following:

	March 31, 201 7			June 30, 2016
				As Adjusted
Brand name	$	402,123		$	402,123
Domain name		36,913			36,913
Customer relationships		500,252			500,252
Non-compete agreement		84,982			84,982
Recipes		21,601			21,601
Total		1,045,871			1,045,871
Less : accumulated amortization		(116,942	)		(27,658	)
Net Intangibles	$	928,929		$	1,018,213

CUSTOMER RELATIONSHIP

On

August

11,

2015,

the Company acquired Gourmet Foods. The fair value on the acquired customer relationships was estimated to be

$66,153

and is amortized over the remaining useful life of

10

years. On

June

2,

2016,

the Company acquired Brigadier Security Systems. The fair value on the acquired customer relationships was estimated to be

$434,098

and is amortized over the remaining useful life of

10

years.

	March 31, 201 7			June 30, 2016
				As Adjusted
Customer relationships	$	500,252		$	500,252
Less: accumulated amortization		(47,212	)		(9,659	)
Total customer relationships, net	$	453,040		$	490,593

BRAND NAME

On

August

11,

2015,

the Company acquired Gourmet Foods. The fair value on the acquired brand name was estimated to be

$61,429

and is amortized over the remaining useful life of

10

years. On

June

2,

2016,

the Company acquired Brigadier Security Systems. The fair value on the acquired brand name was estimated to be

$340,694

and is amortized over the remaining useful life of

10

years.

	March 31, 201 7			June 30, 2016
				As Adjusted
Brand name	$	402,123		$	402,123
Less: accumulated amortization		(38,634	)		(8,447	)
Total brand name, net	$	363,489		$	393,676

CONCIERGE TECHNOLOGIES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

DOMAIN NAME

On

August

11,

2015,

the Company acquired Gourmet Foods. The fair value on the acquired domain name was estimated to be

$21,601

and is amortized over the remaining useful life of

5

years. On

June

2,

2016,

the Company acquired Brigadier Security Systems. The fair value on the acquired domain name was estimated to be

$15,312

and is amortized over the remaining useful life of

5

years.

	March 31, 201 7			June 30, 2016
				As Adjusted
Domain Name	$	36,913		$	36,913
Less: accumulated amortization		(9,735	)		(4,193	)
Total brand name, net	$	27,178		$	32,720

RECIPES

On

August

11,

2015,

the Company acquired Gourmet Foods. The fair value on the recipes was estimated to be

$21,601

and is amortized over the remaining useful life of

5

years.

	March 31, 201 7			June 30, 2016
				As Adjusted
Recipes	$	21,601		$	21,601
Less: accumulated amortization		(7,180	)		(3,937	)
Total Recipes, net	$	14,421		$	17,664

NON-COMPETE AGREEMENT

On

June

2,

2016,

the Company acquired Brigadier Security Systems. The fair value on the acquired non-compete agreement was estimated to be

$84,982

and is amortized over the remaining useful life of

5

years.

	March 31, 201 7			June 30, 2016
				As Adjusted
Non-compete agreement	$	84,982		$	84,982
Less: accumulated amortization		(14,180	)		(1,421	)
Total non-compete agreement, net	$	70,802		$	83,561

AMORTIZATION EXPENSE

The total amortization expense for the

nine

months ended

March

31,

2017

was

$89,284.

No amortization was taken for the comparison period ending

March

31,

2016.

Estimated amortization expenses of intangible assets for the next

five

twelve

month periods ending

March

31,

are as follows:

Years Ending March 31,	Expense
201 8	$	118,937
201 9		118,937
2020		118,937
202 1		113,161
202 2		93,590
Thereafter		365,367
Total	$	928,929