XML 106 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (683,000) $ (635,200)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 147,100 2,700
Accretion expense 37,000   
Gain on sale of Symbius investment (86,800)   
Gain on sale of marketable securities (751,500) (386,700)
Stock issued for services    26,500
Stock-based compensation 238,600 24,900
Distribution of marketable securities from escrow   (9,700)
Changes in operating assets and liabilities:    
Accounts receivable (9,600)   
Other receivables (16,000) 85,100
Prepaid expenses and other current assets (23,900) (57,600)
Trust account-asset retirement obligation (30,000)   
Accounts payable and accrued expenses (410,100) 225,700
Other assets    (50,000)
Net cash used in operating activities (1,588,200) (774,300)
CASH FLOWS FROM INVESTING ACTIVITIES    
Issuance of note receivable to American Citizenship Center, LLC (150,000) (300,000)
Issuance of note receivable to Symbius Financial, Inc.    (100,000)
Investment in Symbius Financial, Inc.    (162,100)
Proceeds from repayment of Symbius and ACC note 175,000   
Purchase of land, property, and equipment (962,400) (1,756,800)
Proceeds from sale of marketable securities 2,927,800 3,278,000
Proceeds from sale of Symbius investment, net of legal expenses 248,900   
Net cash provided by investing activities 2,239,300 959,100
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment on borrowings (228,000) (800,000)
Proceeds from exercise of stock options    151,200
Purchase of treasury shares (11,000) (30,300)
Other    (4,600)
Net cash used in financing activities (239,000) (683,700)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 412,100 (498,900)
CASH AND CASH EQUIVALENTS, beginning of period 284,300 783,200
CASH AND CASH EQUIVALENTS, end of period 696,400 284,300
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION    
Net cash paid during the period for interest 6,300   
Non-Cash Activities:    
Unrealized gain (loss) on marketable securities 166,300 (82,900)
Value of stock-based compensation 238,600 24,900
Value of shares issued in payment of interest and services    26,500
Series B preferred stock dividend, paid in kind    30,500
Gain on redemption of Series B preferred stock net of legal fees   443,200
Marketable securities paid for services    100,000
Settlement of Series B Preferred Stock for a note payable    800,000
Distribution of marketable securities from escrow    9,700
Assumption of note in land purchase    200,000
Fair value - contingent payments    1,125,000
Asset retirement cost accrual    410,000
Issuance of common stock for asset acquisition    $ 28,800