Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 865,933 $ 1,589,748
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,102,085 1,351,239
Provision for bad debts 1,062,515 9,739
Gain on sale of assets (28,320) (1,154)
Stock based compensation 134,884 260,875
Changes in operating assets and liabilities:    
Accounts receivable 6,408,397 (3,922,773)
Revenues in excess of billing (1,411,983) (3,904,609)
Other current assets (344,493) (1,525)
Accounts payable and accrued expenses (1,136,533) 77,541
Unearned revenue (6,646,170) 938,242
Net cash provided by (used in) operating activities 6,315 (3,602,677)
Cash flows from investing activities:    
Purchases of property and equipment (897,743) (948,337)
Sales of property and equipment 63,577 125,886
Purchase of subsidiary shares (8,878)
Net cash used in investing activities (843,044) (822,451)
Cash flows from financing activities:    
Proceeds from the exercise of stock options and warrants 473,000
Dividend paid by subsidiary to non-controlling interest (306,799)
Purchase of subsidiary treasury stock (1,503,662)
Proceeds from bank loans 2,451,256 340,847
Payments on finance lease obligations and loans - net (247,496) (307,235)
Net cash provided by financing activities 866,299 33,612
Effect of exchange rate changes (381,996) 1,196,904
Net increase (decrease) in cash and cash equivalents (352,426) (3,194,612)
Cash and cash equivalents at beginning of the period 19,127,165 15,533,254
Cash and cash equivalents at end of period $ 18,774,739 $ 12,338,642