Condensed Consolidated Statements of Cash Flows - USD ($)
|
6 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
| Cash flow from operating activities: |
|
|
| Net loss |
$ (673,629)
|
$ (770,425)
|
| Adjustment to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain from sale of discontinued operations |
(117,445)
|
(97,418)
|
| Depreciation and amortization |
14,398
|
20,848
|
| Amortization of lease right |
59,332
|
56,960
|
| Fair value of vested stock options |
496,190
|
415,443
|
| Fair value of vested restricted common stock |
170,114
|
153,754
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
342,389
|
283,654
|
| Prepaid expenses and other current assets |
125,262
|
6,468
|
| Prepaid royalties |
(301,110)
|
(367,792)
|
| Deposits and other assets |
8,094
|
0
|
| Accounts payable and accrued expenses |
993,845
|
(24,324)
|
| Deferred revenue |
563,209
|
358,489
|
| Lease liability |
(62,998)
|
(58,376)
|
| Net cash provided by (used in) operating activities |
1,617,651
|
(22,719)
|
| Cash flow from investing activities: |
|
|
| Purchase of property and equipment |
0
|
(4,154)
|
| Net cash used in investing activities |
0
|
(4,154)
|
| Cash flow from financing activities: |
|
|
| Common stock repurchase and retirement |
(199,374)
|
(113,278)
|
| Net cash used in financing activities |
(199,374)
|
(113,278)
|
| Effect of exchange rate changes |
(2,239)
|
(6,501)
|
| Net increase (decrease) in cash and cash equivalents |
1,416,038
|
(146,652)
|
| Cash and cash equivalents, beginning of period |
5,353,090
|
4,908,180
|
| Cash and cash equivalents, end of period |
6,769,128
|
4,761,528
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid for income taxes |
$ 7,300
|
$ 16,663
|