XML 16 R5.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 736,630 $ 1,033,544
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 76,216 99,347
Amortization of intangible assets 241,338 484,047
Deferred tax (benefit) (12,052) 91,759
Share-based compensation (25,000) (25,000)
Increase (decrease) in cash due to change in:    
Accounts receivable (1,378,101) (9,503,740)
Inventories 105,384 (2,290,408)
Prepaid expenses and other current assets (6,970) 46,738
Prepaid income taxes 0 1,055,788
Advance payments to vendor (157,686) (56,484)
Other assets 5,424 (4,053)
Accounts payable (1,444,843) 13,285,927
Advance payments from customers 28,515 (606,315)
Accrued liabilities 85,809 219,341
Income tax payable 396,185 91,744
Net cash (used in) provided by operating activities (1,349,151) 3,922,235
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (13,117) (41,724)
Payments for capitalized development costs (124,047) (603,577)
Purchases of intangible assets (56,661) (177,382)
Net cash used in investing activities (193,825) (822,683)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock 0 (234,000)
Issuance of stock related to stock options exercised 100,800 0
Net cash provided by (used in) financing activities 100,800 (234,000)
Effect of foreign currency translation (28,612) (30,548)
Net (decrease) increase in cash and cash equivalents (1,470,788) 2,835,004
Cash and cash equivalents, beginning of period 13,156,754 11,822,620
Cash and cash equivalents, end of period 11,685,966 14,657,624
Cash received (paid) during the years for:    
Interest paid 4,550 0
Income taxes $ (10,800) $ 1,090,181