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(17) Liquidity and Capital Resources
12 Months Ended
Jun. 30, 2018
Disclosure Text Block [Abstract]  
(16) Liquidity and Capital Resources

As of June 30, 2018, the Company had $1,696,116 in cash, compared to $254,705 as of June 30, 2017. During fiscal year 2018, the Company had positive cash flows from operating activities. The Company believes that its existing revenue stream, cash flows from consolidated operations, current capital resources, and borrowing availability under the Line of Credit provide sufficient liquidity to fund operations through at least September 30, 2019.

 

On March 31, 2017, the Company entered into a Line of Credit agreement (see Note 7). As of June 30, 2018 there was approximately $1,370,000 of additional borrowing capacity related to this Line of Credit. To fully execute on its business strategy of acquiring other entities, the Company will need to raise additional capital. Absent additional financing, the Company may have to curtail its current acquisition strategy.