XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Net income $ 348,667 $ 849,601
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 349,096 228,024
Unrealized loss on sale of investments 314,313 38,558
Unrealized loss (gain) on disposal of equipment 1,434 (1,660)
(Increase) decrease in current assets:    
Accounts receivable 142,174 (7,309)
Accounts receivable - related party 226,377 159,844
Deferred taxes, net 449,458
Prepaid income taxes (64,010) (355,753)
Inventory (306,271) (155,030)
Other current assets 178,635 184,567
Increase (decrease) in current liabilities:    
Accounts payable & accrued expenses (309,587) (427,525)
Expense waivers payable - related party (273,655) 277,224
Net cash provided by operating activities 607,173 1,239,999
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisition of business assets (45,000) (2,232,172)
Purchase of equipment-net of disposals (8,984) (246,699)
Sale of investments 180,000 1,072,019
Purchase of investments (346,759) (981,361)
Net cash used in investing activities (220,743) (2,388,213)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of equipment loan (96,525) (21,787)
Proceeds from equipment loan 178,604
Net cash (used in) provided by financing activities (96,525) 156,817
Effect of exchange rate change on cash and cash equivalents (30,515) (111,990)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 259,390 (1,103,387)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 7,524,114 6,730,486
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 7,783,504 5,627,099
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Purchase consideration payable (see Note 13) 1,250,000
Income taxes paid - U.S. $ 43,000 $ 960,800