Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
12 Months Ended |
Jun. 30, 2015 |
Jun. 30, 2014 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
$ (907,475)
|
$ 302,053
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |
|
|
| Depreciation |
411
|
$ 239
|
| Amortization |
$ 48,125
|
|
| Allowance on accounts receivable |
|
$ 244
|
| Beneficial conversion feature on convertible notes payable |
$ 297,875
|
|
| Shares issued for services |
19,600
|
|
| Stock based compensation expense |
28,154
|
$ 25,250
|
| Interest accrued on notes payable |
199,489
|
170,897
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
31,751
|
217,579
|
| Restricted cash |
(11,072)
|
447,320
|
| Inventories |
(6,632)
|
(3,014)
|
| Prepaid expenses |
(1,091)
|
15,744
|
| Deferred revenue |
233,839
|
(767,911)
|
| Payroll tax liabilities |
(85,941)
|
(141,242)
|
| Customer deposits |
(65,778)
|
19,973
|
| Accounts payables and accrued expenses |
25,842
|
759
|
| Net cash provided by (used in) operating activities |
$ (192,903)
|
291,760
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Advances on notes receivable |
|
(1,234)
|
| Net cash used in investing activities |
|
(1,234)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payment of notes payable |
|
(300,279)
|
| Proceeds from notes payable, related party |
$ 365,000
|
68,500
|
| Payments on notes payable, related party |
(144,000)
|
(110,000)
|
| Net cash provided by (used in) financing activities |
221,000
|
(341,779)
|
| NET INCREASE (DECREASE) IN CASH |
28,097
|
(51,253)
|
| CASH AT BEGINNING OF YEAR |
24,665
|
75,918
|
| CASH AT END OF YEAR |
$ 52,762
|
24,665
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest |
|
$ 14,423
|
| NON CASH INVESTING AND FINANCING ACTIVITIES |
|
|
| Common stock issued for acquisition |
$ 37,500
|
|
| Contingent earnout liability from acquisitions |
$ 155,000
|
|