Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net earnings $ 351,944 $ 157,032
Adjustments to reconcile net earnings to net cash and cash equivalents provided (used) by operating activities:    
Depreciation and amortization 13,214 13,212
Bad debt expense (15,000)
Inventory reserve 1,593 11,097
Provision for deferred income taxes 8,737 4,729
(Increase) decrease in operating assets:    
Accounts receivable (3,231,057) 771,446
Inventories 226,141 496,402
Vendor deposits 416,845
Refundable income taxes 62,063 90,662
Other current assets 448,275 (125,798)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (325,188) (11,670)
Accrued employee expenses (567,024) (337,853)
Income taxes payable 140,405
Deferred income 15,232 (6,495)
Customer deposits (31,587) 3,334,567
Net cash (used) provided by operating activities (2,485,407) 4,397,331
Net change in cash and cash equivalents (2,485,407) 4,397,331
Cash and cash equivalents at beginning of period 3,941,899 3,908,974
Cash and cash equivalents at end of period 1,456,492 8,306,305
Cash paid during the period for:    
Income taxes $ 2,600