Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

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Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:    
Net income (loss) $ 4,949,887 $ (175,580)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 2,657,594 2,082,319
Provision for bad debts 54,889 192,250
Share of net (income) loss from investment under equity method (484,487) 100,000
(Gain) loss on sale of assets (14,021) 3,274
Stock issued for interest on notes payable 211,111  
Stock issued for services 29,670 155,500
Fair market value of warrants and stock options granted 320,021 256,479
Beneficial conversion feature 442,128 74,247
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (1,864,153) 3,322,973
Decrease (increase) in other current assets 1,217,728 (2,042,183)
Increase (decrease) in accounts payable and accrued expenses 1,908,178 (11,801)
Net cash provided by operating activities 9,428,545 3,957,478
Cash flows from investing activities:    
Purchases of property and equipment (3,537,918) (2,832,212)
Sales of property and equipment 59,350 73,048
Purchase of treasury stock   (19,417)
Investment under equity method   (100,000)
Purchase of non-controlling interest in subsidiaires (621,563)  
Acquisition, net of cash acquired   (253,192)
Increase in intangible assets (2,132,595) (3,713,090)
Net cash used in investing activities (6,232,726) (6,844,863)
Cash flows from financing activities:    
Proceeds from the exercise of stock options and warrants 612,650 368,000
Payment to common shareholders against fractional shares (194)  
Proceeds from sale of subsidiary stock to non-controlling interest 3,031  
Proceeds from convertible notes payable   4,000,000
Payments on convertible notes payable   (2,758,330)
Restricted cash (2,257,428) 2,996,382
Proceeds from bank loans 2,049,698 3,866,758
Payments on capital lease obligations & loans - net (723,936) (5,123,981)
Net cash (used) provided by financing activities (316,179) 3,348,829
Effect of exchange rate changes in cash (899,554) 89,120
Net increase in cash and cash equivalents 1,980,086 550,564
Cash and cash equivalents, beginning of year 7,599,607 4,172,802
Cash and cash equivalents, end of year $ 9,579,693 $ 4,723,366