Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating activities:    
Net earnings $ 536,205 $ 948,373
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation and amortization 33,166 29,578
(Recovery of) bad debt expense (1,640) 5,255
Inventory reserve 8,365 3,409
Provision (benefit) for deferred income taxes 16,612 (15,414)
(Increase) decrease in operating assets    
Accounts and trade notes receivables 690,666 201,891
Inventories 404,727 782,643
Refundable income taxes 43,090 39,993
Lease and mortgage receivables 8,387 6,420
Prepaid and other current assets (876,874) 279,953
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (170,931) (3,647,439)
Accrued employee expenses (285,966) $ (266,929)
Deferred income (9,508)
Customer deposits 1,698,894 $ (752,268)
Net cash provided (used) by operating activities 2,095,193 (2,384,535)
Investing activities:    
Capital expenditures (1,563) (52,500)
Net cash used by investing activities (1,563) (52,500)
Financing activities:    
Dividends paid (1,406,746) (1,406,746)
Net cash used by financing activities (1,406,746) (1,406,746)
Net increase (decrease) in cash and cash equivalents 686,884 (3,843,781)
Cash and cash equivalents at beginning of period 3,908,974 9,224,340
Cash and cash equivalents at end of period 4,595,858 5,380,559
Supplemental information:    
Cash paid during the period for income taxes $ 265,000 $ 549,000