XML 16 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 1,155,513 $ 127,806
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Recoveries of previously written off) provision for doubtful accounts (20,488) 43,278
Loss on disposal of fixed assets (40,710) (14,953)
Depreciation of equipment and leasehold improvements 367,369 437,344
Stock-based compensation expense 366,665 474,501
Deferred income taxes 303,236 309,969
Change in cash surrender value of life insurance (142,036) (114,952)
Change in deferred compensation accrual 44,179 (25,836)
Deferred compensation paid (75,000) 0
Net changes in operating assets and liabilities (see note 9) (1,700,697) (1,626,541)
Cash provided by (used in) operating activities 339,451 (359,478)
Investing activities:    
Life insurance premiums paid (129,542) (231,781)
Purchase of equipment and leasehold improvements (291,872) (263,574)
Cash (used in) investing activities (421,414) (495,355)
Financing activities:    
Net (decrease) in cash and cash equivalents (81,963) (854,833)
Cash and cash equivalents at beginning of period 1,000,266 $ 1,899,411
Cash and cash equivalents at end of period $ 918,303