v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash Flows From Operating Activities:    
Net loss $ (860,818) $ (516,978)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization of property and equipment 620 206
Amortization of customer contracts 87,500 0
Goodwill impairment loss 48,158 0
Stock-based compensation 193,167 0
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivables 147,163 (71,380)
Deposits, prepaid expenses and other assets 37,340 (7,875)
Accounts payable 261,771 227,689
Accrued expenses and other current liabilities 3,098 (5,000)
Accrued compensation 60,000 0
Net Cash Used In Operating Activities (22,001) (373,338)
Cash Flows From Investing Activities:    
Purchase of equipment (21,800) (6,191)
Net Cash Used In Investing Activities (21,800) (6,191)
Cash Flows From Financing Activities:    
Principal paid on notes payable (18,500) 0
Proceeds from issuance of note payable 23,300 0
Proceeds from issuance of common stock 0 515,000
Net Cash Provided By Financing Activities 4,800 515,000
Net Change in Cash and Cash Equivalents (39,001) 135,471
Cash and Cash Equivalents - Beginning of Period 50,598 59,597
Cash and Cash Equivalents - End of Period 11,597 195,068
Supplemental Disclosures Of Cash Flow Information:    
Interest paid 4,871 0
Income taxes paid 0 0
Non-Cash Investing and Financing Activities:    
Cash dividend accrued on Preferred Stock-Series E $ 7,666 $ 0