Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.1
Stockholders' Equity (Tables)
 9 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Schedule of Changes in Stockholders' Equity

A summary of the changes in equity for the nine months ended March 31, 2019 is provided below:

 

    Common Stock     Additional Paid-in     Treasury     Accumulated     Stock Subscriptions     Shares to     Other Comprehensive     Non Controlling     Total Stockholders’  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be Issued     Loss     Interest     Equity  
Balance at June 30, 2018     11,708,469     $ 117,085     $ 126,479,147     $ (1,205,024 )   $ (37,994,502 )   $ (221,000 )   $ -     $ (24,386,071 )   $ 14,146,417       76,936,052  
Adjustment in retained earnings on adoption of ASC 606     -       -       -       -       (5,795,795 )     -       -       -       (2,957,860 )     (8,753,655 )
Exercise of subsidiary common stock options     -       -       (6,629 )     -       -       -       -       -       9,279       2,650  
Common stock issued for: Services     73,891       739       445,801       -       -       -       -       -       -       446,540  
Equity component shown as current liability at June 30, 2018     -       -       -       -       -       -       88,324       -       -       88,324  
September 30, 2018     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Foreign currency translation adjustment     -       -       -       -       -       -       -       (263,203 )     (200,873 )     (464,076 )
Net income for the year     -       -       -       -       962,589       -       -       -       318,546       1,281,135  
Balance at September 30, 2018     11,782,360     $ 117,824     $ 126,918,319     $ (1,205,024 )   $ (42,827,708 )   $ (221,000 )   $ -     $ (24,649,274 )   $ 11,315,509     $ 69,448,646  

 

    Common Stock     Additional Paid-in     Treasury     Accumulated     Stock Subscriptions     Shares to     Other Comprehensive     Non Controlling     Total Stockholders’  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be Issued     Loss     Interest     Equity  
Balance at September 30, 2018     11,782,360     $ 117,824     $ 126,918,319     $ (1,205,024 )   $ (42,827,708 )   $ (221,000 )   $ -     $ (24,649,274 )   $ 11,315,509       69,448,646  
Exercise of common stock options     10,000       100       64,900       -       -       -       -       -       -       65,000  
Common stock issued for: Services     67,950       679       415,519       -       -       -       -       -       -       416,198  
Equity component shown as current liability at September 30, 2018     -       -       -       -       -       -       88,324       -       -       88,324  
December 31, 2018     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Dividend to non-controlling interest     -       -       -       -       -       -       -       -       (566,465 )     (566,465 )
Foreign currency translation adjustment     -       -       -       -       -       -       -       (3,797,537 )     (1,986,953 )     (5,784,490 )
Net income for the year     -       -       -       -       2,855,629       -       -       -       1,475,355       4,330,984  
Balance at December 31, 2018     11,860,310     $ 118,603     $ 127,398,738     $ (1,205,024 )   $ (39,972,079 )   $ (221,000 )   $ -     $ (28,446,811 )   $ 10,237,446     $ 67,909,873  

 

    Common Stock     Additional Paid-in     Treasury     Accumulated     Stock Subscriptions     Shares to     Other Comprehensive     Non Controlling     Total Stockholders'  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be Issued     Loss     Interest     Equity  
Balance at December 31, 2018     11,860,310     $ 118,603     $ 127,398,738     $ (1,205,024 )   $ (39,972,079 )   $ (221,000 )   $ -     $ (28,446,811 )   $ 10,237,446       67,909,873  
Exercise of common stock options     3,076       31       19,969       -       -       -       -       -       -       20,000  
Common stock issued for: Services     15,670       157       89,287       -       -       -       -       -       -       89,444  
Equity component shown as current liability at December 31, 2018     -       -       -       -       -       -       88,324       -       -       88,324  
March 31, 2019     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Fair value of options extended     -       -       43,612       -       -       -       -       -       -       43,612  
Foreign currency translation adjustment     -       -       -       -       -       -       -       (28,021 )     (100,366 )     (128,387 )
Net income for the year     -       -       -       -       1,267,560       -       -       -       501,835       1,769,395  
Balance at March 31, 2019     11,879,056     $ 118,791     $ 127,551,606     $ (1,205,024 )   $ (38,704,519 )   $ (221,000 )   $ -     $ (28,474,832 )   $ 10,638,915     $ 69,703,937  

 

A summary of the changes in equity for the nine months ended March 31, 2018 is provided below:

 

    Common Stock     Additional Paid-in     Treasury     Accumulated     Stock Subscriptions     Shares to     Other Comprehensive     Non Controlling     Total Stockholders’  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be Issued     Loss     Interest     Equity  
Balance at June 30, 2017     11,225,385     $ 112,254     $ 124,409,998     $ (454,310 )   $ (42,301,390 )   $ (297,511 )   $ -     $ (18,074,570 )   $ 14,799,082       78,193,553  
Exercise of common stock options     35,773       358       138,442       -       -       -       -       -       -       138,800  
Common stock issued for: Services     71,971       719       438,589       -       -       -       -       -       -       439,308  
Purchase of treasury shares     -       -       -       (500,663 )     -       -       -       -       -       (500,663 )
Equity component shown as current liability at June 30, 2017     -       -       -       -       -       -       88,324       -       -       88,324  
September 30, 2017     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Payment received for stock subscription     -       -       -       -       -       23,585       -       -       -       23,585  
Foreign currency translation adjustment     -       -       -       -       -       -       -       (588,579 )     (237,165 )     (825,744 )
Net income (loss) for the year     -       -       -       -       (369,498 )     -       -       -       188,233       (181,265 )
Balance at September 30, 2017     11,333,129     $ 113,331     $ 124,987,029     $ (954,973 )   $ (42,670,888 )   $ (273,926 )   $ -     $ (18,663,149 )   $ 14,750,150     $ 77,287,574  

 

    Common Stock     Additional Paid-in     Treasury     Accumulated     Stock Subscriptions     Shares to     Other Comprehensive     Non Controlling     Total Stockholders’  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be Issued     Loss     Interest     Equity  
Balance at September 30, 2017     11,333,129     $ 113,331     $ 124,987,029     $ (954,973 )   $ (42,670,888 )   $ (273,926 )   $ -     $ (18,663,149 )   $ 14,750,150       77,287,574  
Exercise of subsidiary common stock options     -       -       (16,600 )     -       -       -       -       -       24,355       7,755  
Common stock issued for: Services     62,272       623       383,606       -       -       -       -       -       -       384,229  
Purchase of treasury shares     -       -       -       (100,357 )     -       -       -       -       -       (100,357 )
Equity component shown as current liability at September 30, 2017     -       -       -       -       -       -       88,324       -       -       88,324  
December 31, 2017     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Dividend to non-controlling interest     -       -       -       -       -       -       -       -       (417,853 )     (417,853 )
Payment received for stock subscription     -       -       -       -       -       52,926       -       -       -       52,926  
Foreign currency translation adjustment     -       -       -       -       -       -       -       (1,612,881 )     (841,009 )     (2,453,890 )
Net income for the year     -       -       -       -       634,421       -       -       -       1,027,581       1,662,002  
Balance at December 31, 2017     11,395,401     $ 113,954     $ 125,354,035     $ (1,055,330 )   $ (42,036,467 )   $ (221,000 )   $ -     $ (20,276,030 )   $ 14,543,224     $ 76,422,386  

 

          Additional                 Stock           Other     Non     Total  
    Common Stock     Paid-in     Treasury     Accumulated     Sub-scriptions     Shares to     Compre-hensive     Controlling     Stockholders’  
    Shares     Amount     Capital     Shares     Deficit     Receivable     be issued     Loss     Interest     Equity  
Balance at December 31, 2017     11,395,401     $ 113,954     $ 125,354,035     $ (1,055,330 )   $ (42,036,467 )   $        (221,000 )   $             -     $       (20,276,030 )   $ 14,543,224        76,422,386  
Exercise of subsidiary common stock options     -       -       (5,560 )     -       -       -       -       -       8,154       2,594  
Common stock issued for:                                                                                
Services     62,272       623       383,606       -       -       -       -       -       -       384,229  
Purchase of treasury shares                             (149,694 )                                             (149,694 )
Equity component shown as current liability at December 31, 2017     -       -       -       -       -       -       88,324       -       -       88,324  
March 31, 2018     -       -       -       -       -       -       (88,324 )     -       -       (88,324 )
Acquisition of non-controlling interest in subsidiary     -       -       1,892       -       -       -       -       -       (35,879 )     (33,987 )
Foreign currency translation adjustment     -       -       -       -       -       -       -       (1,729,215 )     (944,207 )     (2,673,422 )
Net income for the year     -       -       -       -       2,864,445       -       -       -       1,994,869       4,859,314  
Balance at March 31, 2018     11,457,673     $ 114,577     $ 125,733,973     $ (1,205,024 )   $ (39,172,022 )   $ (221,000 )   $ -     $ (22,005,245 )   $ 15,566,161     $ 78,811,420