XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net income $ 5,186,331 $ 5,275,235
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 418,840 229,469
Realized (gain) on sale of investments (2,399) (526)
Realized loss (gain) on disposal of equipment (4,341)
(Increase) decrease in current assets:    
Accounts receivable (24,890) (32,863)
Accounts receivable - related party 361,834 (382,959)
Notes receivable (150,000)
Deferred taxes (314,294) 329,279
Prepaid income taxes (918,230) 414,212
Inventory (2,109) 154,723
Other assets (101,725) (38,959)
Increase (decrease) in current liabilities:    
Accounts payable and accrued expenses 449,756 (538,342)
Expense waivers payable - related party 140,163 48,930
Conversion of loan to other income (8,500)
Net cash provided by operating activities 5,180,436 5,308,199
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisition of subsidiary net of subsidiary cash acquired (214,035) (2,766,205)
Purchase of equipment (259,017) (103,662)
Sale of investments 227,632
Purchase of investments (3,766,111)
Net cash (used in) investing activities (4,011,531) (2,869,867)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Equipment loan 88,383
Loans from related parties (5,000) 600,000
Wainwright Holdings, Inc. stock repurchase and dividends (847,264)
Net cash provided by (used in) financing activities 83,383 (247,264)
Effect of exchange rate change on cash and cash equivalents 24,090 (90,235)
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,276,378 2,100,833
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 5,454,107 3,353,274
CASH AND CASH EQUIVALENTS, ENDING BALANCE 6,730,486 5,454,107
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest paid 5,000
Income taxes paid, U.S. $ 2,475,800 $ 3,935,000