XML 20 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flow from operating activities:    
Net income (loss) $ (497,858) $ 774,219
Adjustment to reconcile net income (loss) to net cash provided by (used in) operating activities of continuing operations:    
Loss from discontinued operations 0 395,344
Gain from deconsolidation of former French subsidiary 0 (1,711,748)
Depreciation and amortization 90,846 174,819
Fair value of vested stock options 305,734 488,437
Fair value of common stock issued for services 0 52,500
Fair value of vested restricted common stock 378,341 240,103
Modification cost of warrants issued to directors 0 53,632
Modification cost of options issued to directors 29,815 0
Changes in operating assets and liabilities:    
Accounts receivable (599,676) (894,950)
Prepaid expenses and other current assets (94,415) 12,836
Prepaid royalties 198,916 180,108
Deposits and other assets 1,877 238
Accounts payable and accrued expenses 79,315 (138,241)
Deferred revenue 292,276 75,311
Net cash provided by (used in) operating activities from continuing operations 185,171 (297,392)
Net cash used in operating activities of discontinued operations 0 (34,503)
Net cash provided by (used in) operating activities 185,171 (331,895)
Cash flow from investing activities:    
Purchase of property and equipment (58,376) (67,555)
Purchase of intangible assets (137,922) (27,666)
Net cash used in investing activities from continuing operations (196,298) (95,221)
Cash flow from financing activities:    
Common stock issued for cash 4,783,830 0
Advance under line of credit 1,000,000 2,000,000
Payment under line of credit (1,000,000) (2,000,000)
Common stock repurchase and retirement (37,747) (51,705)
Net cash provided by (used in) financing activities of continuing operations 4,746,083 (51,705)
Net cash used in financing activities of discontinued operations 0 (67,515)
Net cash provided by (used in) financing activities 4,746,083 (119,220)
Effect of exchange rate changes (12,239) 15,827
Net increase (decrease) in cash and cash equivalents 4,722,717 (530,509)
Cash and cash equivalents, beginning of period 1,354,158 1,884,667
Cash and cash equivalents, end of period 6,076,875 1,354,158
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 28,162 30,892
Cash paid for interest $ 17,382 $ 18,056