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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,471,655) $ (1,840,315)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:    
Depreciation 1,508,146 1,605,580
Stock-based compensation expense 498,604 355,793
Deferred tax provision 0 396,355
Provision for (recovery of) doubtful accounts 1,192,128 (4,329,048)
Loss realized from disposal of property, plant and equipment 0 90,383
Loss from ternimation of lease 388,899 0
Changes in operating assets and liabilities    
Accounts and notes receivable (8,420,516) 8,349,571
Inventories (157,408) (45,950)
Other receivables 333,628 2,784,803
Prepayments and advances 3,467,486 (13,423,906)
Accounts payable 12,033,079 (7,239,429)
Customer deposits 287,669 182,616
Other payables (1,171,932) (15,149)
Accrued liabilities (859,053) (388,322)
Taxes payable 41,611 (176,500)
Net cash provided by (used in) operating activities 3,670,686 (13,693,518)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Redemptions of short-term investments, net 5,157,953 9,082,534
Proceeds from disposal of property, plant and equipment 0 56,945
Purchase of property, plant and equipment (1,141) (40,651)
Net cash provided by investing activities 5,156,812 9,098,828
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short term loans and bank guarantees 17,195,090 39,698,800
Payments of short term loans and bank guarantees (25,167,359) (60,808,962)
Proceeds from short term loans - other 0 16,514,050
Payments of short term loans - other 0 (13,260,050)
Proceeds from notes payable 37,047,603 39,048,000
Payments of notes payable (43,769,320) (26,926,850)
Payable to shareholder 114,551 118,302
Principal payments on capital lease obligations (519,195) (1,320,654)
Restricted cash 4,386,073 2,284,670
Proceeds from issuance of common stock 0 1,167,552
Net cash used in financing activities (10,712,557) (3,485,142)
EFFECTS OF EXCHANGE RATE CHANGE IN CASH (127,550) 71,892
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,012,609) (8,007,940)
CASH AND CASH EQUIVALENTS, beginning of period 2,691,915 15,431,110
CASH AND CASH EQUIVALENTS, end of period $ 679,306 $ 7,423,170