XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net (loss) income $ (893,259) $ 1,155,513
Adjustments to reconcile net income to net cash provided by operating activities:    
(Recovery) of provision for doubtful accounts (4,843) (20,488)
Loss on disposal of equipment and leasehold improvements (6,230) (40,710)
Depreciation of equipment and leasehold improvements 375,786 367,369
Stock-based compensation expense 265,568 366,665
Deferred income taxes 190,016 303,236
Change in cash surrender value of life insurance (187,563) (142,036)
Change in deferred compensation accrual 116,331 44,179
Deferred compensation paid (112,500) (75,000)
Net changes in operating assets and liabilities (see note 9) 761,846 (1,700,697)
Cash provided by operating activities 517,612 339,451
Investing activities:    
Life insurance premiums paid (133,767) (129,542)
Purchase of equipment and leasehold improvements (365,081) (291,872)
Cash (used in) investing activities (498,848) (421,414)
Financing activities:    
Net increase (decrease) in cash and cash equivalents 18,764 (81,963)
Cash and cash equivalents at beginning of period 735,393 1,000,266
Cash and cash equivalents at end of period $ 754,157 $ 918,303