Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net loss $ (2,229,223) $ (431,256)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,382,340 1,473,286
Provision for bad debts   251,673
Share of net loss (income) from investment under equity method   (9,192)
Loss on sale of assets 11,052 13,795
Stock issued for services 290,162 318,857
Fair market value of warrants and stock options granted 155,622 125,568
Changes in operating assets and liabilities:    
Accounts receivable (5,723,728) (3,582,074)
Accounts receivable - related party (495,357) (377,848)
Revenues in excess of billing 133,763 3,565,290
Other current assets 479,340 (438,780)
Accounts payable, accrued expenses and unearned revenue 4,515,004 2,014,051
Net cash provided by (used in) operating activities (481,025) 2,923,370
Cash flows from investing activities:    
Purchases of property and equipment (1,031,128) (2,691,066)
Sales of property and equipment 90,841 80,287
Increase in intangible assets   (1,362,026)
Net cash used in investing activities (940,287) (3,972,805)
Proceeds from sale of common stock 850,000  
Proceeds from the exercise of stock options and warrants   560,500
Proceeds from exercise of subsidiary options   176,280
Restricted cash 2,438,844 (426,585)
Proceeds from bank loans 109,211 519,040
Payments on capital lease obligations and loans - net (2,591,334) (198,853)
Net cash provided by financing activities 806,721 630,382
Effect of exchange rate changes (465,548) (699,315)
Net decrease in cash and cash equivalents (1,080,139) (1,118,368)
Cash and cash equivalents, beginning of the period 11,462,695 7,874,318
Cash and cash equivalents, end of period 10,382,556 6,755,950
Cash paid during the period for:    
Interest 58,091 61,466
Taxes $ 28,494