XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 4,213,476 $ 2,906,901
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 771,030 676,324
Amortization of operating right of use asset 43,019 312,826
Stock compensation expense 315,216 320,199
Bad debt expense 1,200,000 391,667
Gain on disposal of assets 0 (24,737)
Loss on sale of property and equipment 0 107,820
(Increase) decrease in:    
Accounts receivables 86,972 198,430
Long-term receivables, prepaids and other assets 655,391 (414,998)
Increase (decrease) in:    
Accounts payable (309,812) 26,210
Operating lease liability (39,777) (306,798)
Accrued liabilities 122,744 52,441
Deferred revenue 7,631 (213,321)
Net cash provided by operating activities 7,065,890 4,032,964
Cash flows from investing activities:    
Sale of property and equipment 0 1,374,085
Capitalization of software costs (769,243)  
Purchase of property and equipment (133,944) (50,823)
Net cash provided by (used in) investing activities (903,187) 1,323,262
Cash flows from financing activities:    
Net (decrease) increase in lines of credit (2,590,907) (2,614,133)
Common Stock buyback/retirement (981,194) (5,212,452)
Proceeds from employee stock plan 92,728 109,177
Dividends paid (993,037) (439,833)
Payments on notes payable and capital leases (209,748) 0
Net cash used in financing activities (4,682,158) (8,157,241)
Net increase (decrease) in cash and cash equivalents 1,480,545 (2,801,015)
Cash and cash equivalents at beginning of period 21,460,948 24,070,322
Cash and cash equivalents at end of period 22,941,493 21,269,307
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 264,486 172,342
Cash paid for interest 52,481 21,607
Cash paid for operating leases $ 53,015 $ 66,871
Supplemental disclosure of non-cash investing and financing activities:    
Common stock to pay accrued liabilities (in shares) 256,977 234,447
Dividends accrued on preferred stock $ 489,833 $ 439,833