Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (219,526) $ (2,229,223)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,765,407 $ 2,382,340
Provision for bad debts 36,780
Loss on sale of assets 11,873 $ 11,052
Stock issued for services $ 77,750 290,162
Fair market value of warrants and stock options granted 155,622
Changes in operating assets and liabilities:    
Accounts receivable $ (1,268,570) (5,723,728)
Accounts receivable - related party (975,266) (495,357)
Revenues in excess of billing (912,509) 133,763
Other current assets (322,533) 479,340
Accounts payable and accrued expenses (833,638) (326,226)
Unearned revenue (538,259) 4,841,230
Net cash used in operating activities (3,178,491) (481,025)
Cash flows from investing activities:    
Purchases of property and equipment (625,794) (1,031,128)
Sales of property and equipment 180,258 90,841
Net cash used in investing activities $ (445,536) (940,287)
Cash flows from financing activities:    
Proceeds from sale of common stock $ 850,000
Proceeds from stock subscription receivable $ 64,931
Restricted cash $ 2,438,844
Proceeds from bank loans $ 437,070 109,211
Payments on capital lease obligations and loans - net (174,385) (2,591,334)
Net cash provided by financing activities 327,616 806,721
Effect of exchange rate changes (797,222) (465,548)
Net decrease in cash and cash equivalents (4,093,633) (1,080,139)
Cash and cash equivalents, beginning of the period 14,168,957 11,462,695
Cash and cash equivalents, end of period 10,075,324 10,382,556
Cash paid during the period for:    
Interest 64,310 58,091
Taxes $ 71,172 $ 28,494