Related Party Transaction

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Related Party Transaction

NOTE 5.RELATED PARTY TRANSACTIONS

Notes Receivable- Related Party

Notes receivable to related party is comprised of two notes of $5,000 each. The principal of these notes are due and payable on or before May 1, 2012. The notes are unsecured and non-interest bearing until maturity.

Accounts Payable – Related Parties

Concierge Technologies, Inc. has no bank account in its own name. The Wallen Group, a consulting company headed by the C.E.O. and director of the Company, maintains an administrative account for the Company. As of September 30, 2011, The Wallen Group was owed $920 by the Company. The amount of the advancement is non-interest bearing, unsecured, and due on demand.

As of September 30, 2011, the Company has accounts payable to a related party in the amount of $75,450 related to hardware purchases from 3^rd Eye Cam, a California general partnership whose founders are now directors of Wireless Village.

Notes Payable - Related Parties

Current related party notes payable consist of the following:

		September 30, 2011		June 30,     2011
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012	$	35,000	$	35,000
Notes payable to director/shareholder, noninterest-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 December 31, 2012		28,000		28,000
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		14,000		14,000
Notes payable to director/shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		3,500		3,500
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		20,000		20,000
Notes payable to director/shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		5,000		5,000
Notes payable to director/shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		5,000		5,000
Notes payable to director/shareholder, interest rate of 6%, unsecured and payable on December 31, 2012		1,000		1,000
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012		15,000		15,000
Notes payable to shareholder, interest rate of 6%, unsecured and payable on December 31, 2012		10,000		10,000
notes payable to shareholder, noninterest-bearing, unsecured and payable on or before May 19, 2012		-		40,000
		150,000		190,000
Less Current amount		150,000		150,000
		-		40,000

In addition to the above, the Company issued a convertible debenture to a shareholder amounting to $100,000 with an interest rate of 6% on September 8, 2010 convertible into shares of Series B Convertible, Voting, Preferred stock, at the election of the debenture holder after October 9, 2010, at the conversion ratio of $0.20 per share. If the debenture holder elects to convert the debenture, the converted preferred shares can further be converted into common stock at a ratio of 1:20 after 270 days from the date of issuance. The fair value of the beneficial conversion feature embedded in the convertible debenture at September 8, 2010, the inception of this convertible note, was determined to be $100,000. As of September 30, 2011, $46,923 of the discount is shown as a discount to the convertible note which will be amortized over the remaining term of the note. During the three-month period ended September 30, 2011, the Company amortized a total of $12,586 as BCF expense.

The Company has recorded interest expense for the related party notes of $4,532 and $3,381 for each of the three-month periods ending September 30, 2011 and 2010, respectively.