XML 45 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
6 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2012
Jun. 30, 2011
Cash flows from operating activities:      
Net (loss) income $ 4,715,858 $ (2,761,935) $ (3,989,383)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Sale of marketable fixed income securities     872,427
Share-based compensation expense   2,944 24,449
Depreciation and amortization 1,264,770 260,443 1,094,808
Gain on settlement of contingent consideration (1,703,911) (54,728)  
Gain on sale of operating segments (10,598,907)   (73,956)
Impairment losses on securities held for sale     308,213
Impairment losses on write down of intangible assets   2,312,974  
Accrued interest on notes receivable - related parties (9,326)   (18,500)
Accrued interest due to related parties 833,965 160,967 1,969,151
Changes in operating assets and liabilities:      
Accounts receivable 3,068,387 (52,534) (1,623,946)
Costs in excess of billings on uncompleted contracts (2,605,412)   3,773,749
Other assets (472,484) 72,622 456,726
Accounts payable (1,525,358) 59,873 2,316,247
Billings in excess of costs on uncompleted contracts 3,704,632   782,445
Accrued compensation 521,383 140,640 164,740
Accrued other liabilities 224,406 (19,812) (185,081)
Income taxes payable 157,400 (56,131) (886,643)
Net cash provided by (used in) operating activities (2,424,597) 65,323 4,985,446
Cash flows from investing activities:      
Purchase of fixed assets (130,003) (353,091) (730,962)
Collections of note receivable 636,456 405,362  
Proceeds from sale of assets and subsidiary, net of cash sold 675,000   1,562,825
Investment in equity of subsidiaries (1,630,700)    
Proceeds from minority interest holders 450,000    
Payments on contingent consideration (1,208,421) (779,412)  
Net cash (used in) provided by investing activities (1,207,668) (727,141) 831,863
Cash flows from financing activities:      
Net borrowings (payments) on line of credit 3,436,466   (2,162,000)
Distributions to noncontrolling interest     (147,880)
Repayment of related party debt (619,400) (451,481) (500,000)
Repayments of debt     (1,156,955)
Repurchase of stock options outstanding     (216,200)
Net cash (used in) provided by financing activities 2,817,066 (451,481) (4,183,035)
Effect of exchange rate changes on cash     30,553
Net (decrease) increase in cash (815,199) (1,113,299) 1,664,827
Cash, beginning of period 3,494,256 2,679,057 1,829,429
Cash, end of period (including $-0- at December 31, 2012 and December 31, 2011 and $1,380,932 at June 30, 2011 in discontinued operations) $ 2,679,057 $ 1,565,758 $ 3,494,256