XML 30 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
9 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net income (loss) $ (1,230,599) $ 255,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 190,471 206,329
Net loss on disposal of property and equipment 25,494 0
Net recognized (gain) loss on securities (828,006) 51,755
Net income from equity method investment (14,991) 0
Provision for deferred taxes 429,819 101,833
Stock bonuses 7,902 61,109
Stock-based compensation expense 407 8,930
Changes in operating assets and liabilities:    
Accounts receivable (973,054) 213,641
Prepaid expenses 4,287 (55,882)
Trading securities (14,055,717) (22,452)
Accounts payable and accrued expenses (269,442) 361,554
Total adjustments (15,482,830) 926,817
Net cash (used in) provided by operating activities (16,713,429) 1,182,769
Cash Flows from Investing Activities:    
Purchase of property and equipment 0 (39,158)
Purchase of Galileo shares 0 (600,000)
Purchase of available-for-sale securities (1,054,680) (348,057)
Purchase of other investments (159,710) 0
Proceeds on sale of available-for-sale securities 4,736,043 679,014
Return of capital on investment 42,591 0
Net cash provided by (used in) investing activities 3,564,244 (308,201)
Cash Flows from Financing Activities:    
Issuance of common stock 122,552 141,324
Repurchases of common stock (230,347) (84,983)
Dividends paid (696,061) (2,399,882)
Net cash used in financing activities (803,856) (2,343,541)
Net decrease in cash and cash equivalents (13,953,041) (1,468,973)
Beginning cash and cash equivalents 18,085,226 20,612,721
Ending cash and cash equivalents 4,132,185 19,143,748
Supplemental Disclosures of Cash Flow Information    
Cash paid for income taxes $ 0 $ 0