XML 20 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (81,952) $ 14,191
(Income) / Loss from discontinued operations 0 (108,807)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Gain on disposal of subsidiary 0 (109,600)
Amortization of debt issuance cost 0 67,571
Impairment of inventory (48,330) 0
Depreciation 226,556 0
Amortization 27,658 0
(Increase) decrease in current assets:    
Accounts receivable (32,863) (95,417)
Inventory 106,393 (85,849)
Other current assets (4,285) 0
Increase (decrease) in current liabilities:    
Accounts payable & accrued expenses 160,386 16,275
Net cash provided by (used in) operating activities 450,223 (301,636)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (103,662) 0
Payment of cash to subsidiary disposed as part of sale agreement 0 (353,100)
Cash used in purchase of new subsidiaries net of cash acquired (2,766,205) (182,931)
Net cash used in investing activities (2,869,866) (536,031)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party notes payable 1,600,000 0
Repayments of related party debts 0 (29,500)
Proceeds from notes payable & debentures 0 43,500
Repayments of notes payable & debentures 0 (222,000)
Proceeds from sale of common shares 0 1,160,000
Proceeds from sale of preferred shares 0 1,840,000
Net cash provided by financing activities 1,600,000 2,792,000
Effect of currency exchange rate fluctuation on cash and cash equivalents (90,235) 0
NET DECREASE IN CASH & CASH EQUIVALENTS (909,878) 1,954,332
CASH & CASH EQUIVALENTS, BEGINNING BALANCE 1,970,062 15,730
CASH & CASH EQUIVALENTS, ENDING BALANCE 1,060,184 1,970,062
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest - continuing operations 29 7,984
Interest - discontinued operations 0 4,103
Income taxes - continued operations 14,393 0
Income taxes - discontinued operations 0 35,538
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchase consideration payable 214,035 0
Beneficial conversion feature for issuance of Series B Preferred Stock 0 1,470,053
Cancellation of common stock in connection with disposal of subsidiary 0 (502,616)
Issuance of common stock in settlement of convertible debentures & Notes & Accrued Interest $ 0 $ 158,061