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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income $ 637,785 $ 155,048
Adjustment to reconcile net income to net cash provided by (used in) operating activities    
Stock-based compensation expense 19,330 0
Amortization of stock-based compensation to consultants 398,996 246,125
Depreciation and amortization 13,342 15,352
Recovery of doubtful accounts (109,693) (14,415)
Deferred tax benefit 0 (19,000)
Changes in assets and liabilities    
Decrease in accounts receivable 1,664,027 182,441
Decrease (increase) in other receivables 99,823 (155,078)
Increase in advances to suppliers (1,422,433) (6,032)
Decrease (increase) in prepaid expense (74,022) 1,120
Decrease (increase) in other assets (5,252) 715
Decrease (increase) in due from related parties 504,824 (485,876)
Decrease in advances from customers 0 (100,369)
Decrease in accounts payable (482,658) (352,263)
Increase in taxes payable 76,140 321,313
Increase (decrease) in accrued expenses and other current liabilities 204,165 (52,964)
Net cash provided by (used in) operating activities 1,524,374 (263,883)
Investing Activities    
Acquisitions of property and equipment 0 (927)
Net cash used in investing activities 0 (927)
Financing Activities    
Proceeds from issuance of common stock, net 0 632,264
Net cash provided by financing activities 0 632,264
Effect of exchange rate fluctuations on cash and cash equivalents (14,103) (79,313)
Net increase in cash and cash equivalents 1,510,271 288,141
Cash and cash equivalents at beginning of period 1,385,994 730,322
Cash and cash equivalents at end of period 2,896,265 1,018,463
Supplemental information    
Income taxes paid $ 6,446 $ 0