XML 38 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows From Operating Activities:    
Net income $ 3,902,406 $ 3,408,783
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 601,433 633,854
Stock compensation expense 551,881 588,984
Bad debt expense 510,000 465,050
Decrease (increase) in:    
Trade receivables 312,283 (4,180,558)
Long-term receivables, prepaids and other assets (383,703) 854,239
Increase (decrease) in:    
Accounts payable (960,140) 924,947
Accrued liabilities 462,194 (500,253)
Deferred revenue (417,499) (15,560)
Net cash provided by operating activities 4,578,855 2,179,486
Cash Flows From Investing Activities:    
Purchase of property and equipment (1,447,880) (204,005)
Capitalization of software costs 0 (111,241)
Sale of long-term investments 477,884 0
Net cash used in investing activities (969,996) (315,246)
Cash Flows From Financing Activities:    
Proceeds from employee stock purchase plans 0 244,417
Proceeds from exercise of options and warrants 164,997 666,903
Proceeds from issuance of notes payable 1,268,959 56,078
Net increase in lines of credit 1,430,000 380,000
Redemption of Series B-1 Preferred 0 (999,990)
Dividends paid (439,833) (782,123)
Common stock buy-back (482,406) 0
Payments on notes payable and capital leases (1,833,592) (591,092)
Net cash provided by (used in) financing activities 108,125 (1,025,807)
Net increase in cash and cash equivalents 3,716,984 838,433
Cash and cash equivalents at beginning of period 14,892,439 14,054,006
Cash and cash equivalents at end of period 18,609,423 14,892,439
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes 76,063 75,714
Cash paid for interest 146,889 166,888
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Preferred stock to pay accrued liabilities 0 200,000
Common stock to pay accrued liabilities 514,286 1,048,710
Dividends accrued on preferred stock $ 586,443 $ 573,532