v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 1,343,782 $ 2,729,592
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of stock options 9,665 77,320
Amortization of stock - based compensation to consultants 432,125 547,138
Amortization of stock - based compensation to employees 182,000
Depreciation and amortization 63,402 36,432
Provision for (recovery of) doubtful accounts - accounts receivable 1,164,710 (107,608)
Provision for doubtful accounts - due from related parties 243,433
Deferred tax benefit (920,700) (387,900)
Changes in assets and liabilities    
Accounts receivable (3,246,911) 517,463
Other receivables (80,145) 184,753
Advances to suppliers - third parties 50,465 816,715
Prepaid expense and other current assets (84,147) 65,279
Due from related parties (784,363) (2,843,131)
Other long-term assets (14,185)
Advances from customers (23,218) 324,476
Accounts payable 243,380 312,883
Taxes payable 798,012 201,259
Due to related parties (206,323) 156,841
Accrued expenses and other current liabilities 889 514,445
Net cash provided by (used in) operating activities (813,944) 3,131,772
Investing Activities    
Acquisition of property and equipment (379,917) (55,474)
Acquisition of intangible assets (190,000)
Prepayment for intangible assets (437,357)
Net cash used in investing activities (1,007,274) (55,474)
Financing Activities    
Proceeds from issuance of common stock, net 2,585,091 4,319,988
Proceeds from exercise of stock options 82,500
Net cash provided by financing activities 2,585,091 4,402,488
Effect of exchange rate fluctuations on cash and cash equivalents 52,327 (24,591)
Net increase in cash and cash equivalents 816,200 7,454,195
Cash and cash equivalents at beginning of period 8,733,742 1,385,994
Cash and cash equivalents at end of period 9,549,942 8,840,189
Supplemental information    
Income taxes paid $ 60,162 $ 89,324