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 $)
 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:    
Net income (loss) $ (2,403,761) $ 4,949,887
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 3,144,948 2,657,594
Provision for bad debts 259,306 54,889
Share of net loss (income) from investment under equity method 166,648 (484,487)
(Gain) loss on sale of assets 189,032 (14,021)
Stock issued for interest on notes payable   211,111
Stock issued for services 640,247 29,670
Fair market value of warrants and stock options granted 158,783 320,021
Amortization of financing costs   442,128
Changes in operating assets and liabilities:    
Increase in accounts receivable (2,089,498) (2,378,873)
Decrease in revenue in execss of billing 8,612,283 514,720
Decrease in other current assets 367,741 1,217,728
Increase in accounts payable and accrued expenses 3,617,465 1,908,178
Net cash provided by operating activities 12,663,194 9,428,545
Cash flows from investing activities:    
Purchases of property and equipment (6,059,596) (3,537,918)
Sales of property and equipment 78,678 59,350
Purchase of non-controlling interest in subsidiaries (17,853) (621,563)
Increase in intangible assets (2,312,919) (2,132,595)
Net cash used in investing activities (8,311,690) (6,232,726)
Cash flows from financing activities:    
Proceeds from the exercise of stock options and warrants 560,500 612,650
Payment to common shareholders against fractional shares   (194)
Proceeds from exercise of subsidiary options 311,709 3,031
Restricted cash (660,672) (2,257,428)
Dividend paid by subsidiary to non controlling interest (266,343)  
Proceeds from bank loans 1,276,505 2,049,698
Payments on capital lease obligations and loans - net (781,756) (723,936)
Net cash provided by (used in) financing activities 439,943 (316,179)
Effect of exchange rate changes in cash (1,084,723) (899,554)
Net increase in cash and cash equivalents 3,706,724 1,980,086
Cash and cash equivalents, beginning of the period 7,874,318 7,599,607
Cash and cash equivalents, end of period $ 11,581,042 $ 9,579,693