CNCG - CNCG STOCK NEWS

Concierge Technologies, Inc. (OTC Pink: CNCG) has received approval to uplist to NYSE American under the ticker symbol 'MGLD', effective March 10, 2022. Concurrently, the company will change its name to 'The Marygold Companies, Inc.' The uplisting aligns with a planned underwritten public offering and reflects the company's strategic growth and focus on financial services, highlighted by its fintech subsidiary, Marygold & Co. The proprietary mobile banking app from Marygold & Co. is nearing launch, aiming to enhance the company's market presence.

Concierge Technologies, Inc. (OTC Pink: CNCG) reported Q2 financial results for fiscal 2022, showing revenues of $9,445,116, down from $9,961,822 year-over-year. Net income fell to $1,023,335 ($0.03/share) compared to $1,351,788 ($0.04/share) last year. Consolidated revenues for the first half totaled $14,105,454, a decline from $15,926,296 in the prior year. The company recorded a net loss of $857,656 due to a $2.5 million legal settlement. Despite challenges, all subsidiaries produced operating income, and the company maintains a strong balance sheet with $30.9 million in assets.

Concierge Technologies (OTC: CNCG) announced a collaboration between its subsidiary, Original Sprout, and Prime Video to promote the release of Hotel Transylvania: Transformania. The partnership includes a Surprise & Delight Sweepstakes for Original Sprout customers, running until January 20, offering prizes and products from the brand. General Manager Michael Ambacher expressed excitement over the collaboration, emphasizing customer engagement and the campaign theme, 'Start 2022 with a Transformed New Look'.

Concierge Technologies (OTC: CNCG) reported a net loss of $1.9 million for the first fiscal quarter ended September 30, 2021, down from a profit of $2.2 million last year, primarily due to a $2.5 million legal settlement. Revenues declined to $9.7 million from $10.7 million, with Wainwright's revenue dropping to $5.7 million from $7.0 million. Average assets under management fell from $5.6 billion to $4.2 billion, impacting fund management revenue. However, the Company has a strong balance sheet, with total assets of $32.2 million and cash of $17.3 million, remaining debt-free.

Concierge Technologies reports significant financial growth for fiscal 2021. Revenues surged 49% to $39.9 million and net income increased more than threefold to $5.8 million, equaling $0.15 per share. The rise is attributed to increased assets under management by Wainwright Holdings, which saw average assets reach $4.9 billion. The company has a robust balance sheet with total assets rising 29% to $31.5 million, including $16.1 million in cash. The acquisition of Tiger Financial is anticipated to enhance services in the UK, bolstering the firm's financial offerings.

Concierge Technologies (OTC: CNCG) announced the acquisition of Tiger Financial & Asset Management Limited for £1.5 million (approximately $2.1 million), to be paid over two years. Tiger, based in Northampton, manages assets worth £42 million (around $59 million). The acquisition aims to expand Concierge's financial services into the U.K. and introduce a fee-free financial services app. Completion is expected within 90 days, pending U.K. regulatory approval.

Concierge Technologies, Inc. (OTC: CNCG) announced the establishment of a new wholly owned subsidiary, Marygold & Co. (UK) Limited, to operate in London. Experienced financial services executive Matthew Parden has been appointed as president. This subsidiary will serve as a holding company for potential acquisitions and facilitate fintech services in the U.K. and EU, aiming to launch a mobile banking app. The app will offer secure transactions with no minimum deposits, and accounts will be FDIC-insured for U.S. residents. CEO Nicholas Gerber highlighted the strategic importance of this development for global expansion.

Concierge Technologies, Inc. (CNCG) reported strong financial results for Q3 FY2021, with revenues increasing to $9.5 million from $5.9 million year-over-year. Year-to-date revenues reached $30.3 million, up from $17.7 million for the same period last year. Net income also improved, reporting $2.1 million in Q3 compared to a net loss of $208,000 last year. Assets under management at Wainwright Holdings surged to $5.1 billion. The company’s balance sheet strengthened with cash growing to $14.3 million and stockholders' equity at $24.7 million.

Concierge Technologies' subsidiary, Original Sprout, has launched four products from its Classic Collection on a major retailer's e-commerce site. The products include Hair and Body Babywash, Classic Shampoo, Deep Conditioner, and Classic Curl Calmer. Future additions like Leave In Conditioner and Miracle Detangler are anticipated. This launch marks a significant expansion of Original Sprout's distribution channels, enhancing its market presence. CEO Nicholas Gerber highlighted the brand's resilience amid COVID-19 challenges, noting consistent revenue growth.