Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v2.4.0.6
Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net income $ 7,481,106 $ 2,180,969
Depreciation and amortization 4,128,317 3,316,142
Provision for bad debts 54,444 192,250
Share of net (income) loss from investment under equity method (468,095) 240,554
(Gain) loss on sale of assets (29,118) 3,940
Stock issued for interest on notes payable 211,111  
Stock issued for services 38,790 190,076
Fair market value of warrants and stock options granted 455,926 303,807
Beneficial conversion feature 615,394 126,912
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (4,551,208) 877,725
(Increase) in other current assets (228,434) (2,286,804)
Increase in accounts payable and accrued expenses 2,032,318 112,422
Net cash provided by operating activities 9,740,551 5,257,993
Cash flows from investing activities:    
Purchases of property and equipment (6,751,002) (3,729,571)
Sales of property and equipment 138,385 72,516
Purchase of treasury stock   (19,417)
Investment under equity method   (100,000)
Purchase of non-controlling interest in subsidiaries (799,349)  
Acquisition, net of cash acquired   (253,192)
Increase in intangible assets (3,495,938) (5,280,833)
Net cash used in investing activities (10,907,904) (9,310,497)
Cash flows from financing activities:    
Proceeds from sale of common stock   5,743,300
Proceeds from the exercise of stock options and warrants 2,212,712 715,500
Payment to common shareholders against fractional shares (194)  
Proceeds from exercise of subsidiary options 90,589  
Proceeds from convertible notes payable   4,000,000
Payments on convertible notes payable   (2,758,330)
Restricted cash (1,925,344) 5,610,000
Dividend Paid   (341,657)
Proceeds from bank loans 1,874,079 4,371,555
Payments on capital lease obligations & loans - net (687,125) (7,981,217)
Net cash provided by financing activities 1,564,717 9,359,151
Effect of exchange rate changes in cash (290,813) (361,243)
Net increase in cash and cash equivalents 106,551 4,945,404
Cash and cash equivalents, beginning of year 7,599,607 4,172,802
Cash and cash equivalents, end of year $ 7,706,158 $ 9,118,206