XML 13 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (657,204) $ (1,379,734)
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation 72,459 94,084
Amortization of intangible assets 339,708 363,140
Deferred tax asset (benefit) (186,126) (82,268)
Increase (decrease) in cash due to change in:    
Accounts receivable (31,885) 4,777,182
Other receivables 97,752 16,159
Inventories 844,090 2,022,713
Prepaid expenses and other current assets (5,148) (1,116)
Prepaid income tax 25,144 0
Advance payments to vendors 24,688 (7,219)
Other assets (97,698) (8,391)
Accounts payable (969,177) (7,719,647)
Advance payments from customers (157,138) (51,086)
Accrued liabilities (16,491) (27,072)
Net cash used in operating activities (717,026) (2,003,255)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of shares of a subsidiary (234,330) 0
Purchases of property and equipment (63,779) (21,798)
Payments for capitalized development costs (168,910) (291,386)
Purchases of intangible assets (20,928) (38,520)
Net cash used in investing activities (487,947) (351,704)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of stock related to stock options exercised 0 67,000
Net cash provided by financing activities 0 67,000
Effect of foreign currency translation (7,650) 73,616
Net decrease in cash and cash equivalents (1,212,623) (2,214,343)
Cash and cash equivalents, beginning of period 11,975,944 14,285,001
Cash and cash equivalents, end of period 10,763,321 12,070,658
Supplemental disclosure of cash flow information:    
Cash received (paid) during the periods for: Interest 82,674 7,513
Cash received (paid) during the periods for: Income taxes $ (800) $ (800)