XML 39 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating Activities    
Net income (loss) $ 28,973 $ (442,157)
Adjustment to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 27,575 39,672
Provision for doubtful accounts 108 0
Deferred tax (benefit) expense (22,500) 133,000
Gain on disposition of property and equipment 0 (20,475)
Changes in assets and liabilities    
Decrease in advances to suppliers 101,992 69,833
Decrease in accounts receivable 236,660 88,883
Increase in other receivables (375,498) (6,354)
Increase (decrease) in other current assets and prepaid taxes (558) 33,154
Decrease in employee loan receivables 5,338 0
Increase in other long-term assets (7,522) 0
Increase in due from related parties (612,000) 0
Decrease in advances from customers (407,030) (136,672)
Decrease in accounts payable (33,359) (1,010,652)
Increase (decrease) in accrued expenses 76,096 (4,210)
Decrease (increase) in other current liabilities (48,909) 63,629
Net cash used in operating activities (1,030,634) (1,192,349)
Investing Activities    
Acquisitions of property and equipment (3,399) (144,248)
Net cash used in investing activities (3,399) (144,248)
Financing Activities    
Increase in noncontrolling interest in majority-owned subsidiary 0 (285)
Net cash used in financing activities 0 (285)
Effect of exchange rate fluctuations on cash and cash equivalents (28,261) 21,105
Net decrease in cash and cash equivalents (1,062,294) (1,315,777)
Cash and cash equivalents at beginning of period 3,048,831 4,433,333
Cash and cash equivalents at end of period 1,986,537 3,117,556
Supplemental information    
Income taxes paid $ 7,949 $ 6,600