Basis of Presentation and Organization (Tables)

12 Months Ended

Jun. 30, 2013

Basis of Presentation and Organization [Abstract]

Effect of the restatements and reclassification of Statement of Balance sheet

BALANCE SHEETS	Reported			Adjustments			Restated			Reported			Adjustments			Restated
	June 30, 2012			June 30, 2012			June 30, 2012			June 30, 2013			June 30, 2013			June 30, 2013
ASSETS
CURRENT ASSETS
TOTAL CURRENT ASSETS		33,919,346			-			33,919,346			35,974,537			-			35,974,537
NON-CURRENT ASSETS
Intangible assets		3,467,872			-			3,467,872			3,512,767			-			3,512,767
Deferred tax asset		2,155,244			(114,156	)		2,041,089			988,860			141,594			1,130,454
Property, plant and equipment		684,786			-			684,786			578,136			-			578,136
Other assets		-			-			-			95,973			-			95,973
Goodwill		-			-			-			69,057			-			69,057
TOTAL NON-CURRENT ASSETS		6,307,902			(114,156	)		6,193,747			5,244,793			141,594			5,386,387
TOTAL ASSETS	$	40,227,248		$	(114,156	)	$	40,113,093		$	41,219,330		$	141,594		$	41,360,924
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Trade and other payables		6,597,747			(1	)		6,597,746			5,250,399			-			5,250,399
Wholesale loan facility		24,688,865			-			24,688,865			25,669,388			-			25,669,388
Cash reserve		703,003			-			703,003			2,731,094			-			2,731,094
TOTAL CURRENT LIABILITIES		31,989,615			(1	)		31,989,614			33,650,881			-			33,650,881
NON-CURRENT LIABILITIES
TOTAL NON-CURRENT LIABILITIES		218,574			-			218,574			45,665			-			45,665
TOTAL LIABILITIES		32,208,189			(1	)		32,208,188			33,696,546			-			33,696,546
EQUITY
Preferred stock		50			-			50			50			-			50
Common stock		530,000			-			530,000			996,164			(1	)		996,163
Common stock to be issued		-			-			-			-			33,837			33,837
Additional paid-in capital		14,639,149			1			14,639,150			14,496,411			(33,836	)		14,462,575
Other accumulated comprehensive gain (loss)		(244,289	)		(8,769	)		(253,058	)		(1,052,144	)		(27,618	)		(1,079,762	)
Accumulated deficit		(6,905,851	)		(105,386	)		(7,011,237	)		(6,917,697	)		169,212			(6,748,485	)
TOTAL EQUITY		8,019,059			(114,154	)		7,904,905			7,522,784			141,594			7,664,378
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	40,227,248		$	(114,155	)	$	40,113,093		$	41,219,330		$	141,594		$	41,360,924

Effect of the restatements and reclassification of Statement of Operations

STATEMENTS OF OPERATIONS	Reported			Adjustments			Restated			Reported			Adjustments			Restated
	June 30, 2012			June, 30 2012			June, 30 2012			June 30, 2013			June 30, 2013			June 30, 2013
Revenue	$	4,171,622		$	-		$	4,171,622		$	6,098,374		$	(793,244	)	$	5,305,130
Cost of revenue		2,622,383			92,844			2,715,227			3,700,918			(699,345	)		3,001,573
Gross profit		1,549,239			(92,844	)		1,456,395			2,397,456			(93,899	)		2,303,557
Operating expenses
Compensation expenses		807,671			(960	)		806,711			859,754			(129,486	)		730,268
Research and development expense		199,144			-			199,144			472,229			-			472,229
Bad debt expenses		78,038			-			78,038			393,774			-			393,774
Occupancy expenses		254,145			(33,145	)		221,000			276,615			(22,483	)		254,132
Depreciation expense		129,246			(92,844	)		36,402			169,743			(93,899	)		75,844
General and administration expenses		207,629			19,307			226,936			99,251			151,969			251,220
Total operating expenses		1,675,873			(107,642	)		1,568,231			2,271,366			(93,899	)		2,177,467
(loss) Income from operations		(126,634	)		14,798			(111,836	)		126,090			-			126,090
Other income / (expense)
Interest income		109,899			-			109,899			114,309			-			114,309
Research and development grant		302,876			-			302,876			526,962			-			526,962
Other (expense) income		-			(14,797	)		(14,797	)		(182,566	)		-			(182,566	)
Finance costs		(28,555	)		-			(28,555	)		(16,797	)		-			(16,797	)
Total other income		384,220			(14,797	)		369,423			441,908			-			441,908
(Loss) income from operations before income taxes		257,586			1			257,587			567,998			-			567,998
Income tax expense		-			179,647			179,647			579,844			(274,598	)		305,246
Net (loss) income		257,586			(179,646	)		77,940			(11,846	)		274,598			262,752
Other comprehensive income		(253,444	)		164			(253,280	)		(807,855	)		(18,849	)		(826,704	)
Comprehensive (loss) income	$	4,142		$	(179,482	)	$	(175,340	)	$	(819,701	)	$	255,749		$	(563,952	)
Net income (loss) per share:
Basic	$	0.049		$	(0.034	)	$	0.015		$	(0.002	)	$	0.052		$	0.049
Diluted	$	0.049		$	(0.034	)	$	0.015		$	(0.002	)	$	0.052		$	0.049

Effect of the restatements and reclassification of Statement of Cash Flows

STATEMENTS OF CASH FLOWS	Reported			Adjustments			Restated			Reported			Adjustments			Restated
	June 30, 2012			June 30, 2012			June 30, 2012			June 30, 2013			June 30, 2013			June 30, 2013
Net income (loss)	$	257,586		$	(179,646	)	$	77,940		$	(11,846	)	$	274,598		$	262,752
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation & amortization		594,011			-			594,011			697,017			-			697,017
(Increase) / decrease in assets:
Trade receivables		(7,765,220	)		-			(7,765,220	)		(3,555,934	)		-			(3,555,934	)
Inventories		3,440			-			3,440			(120,644	)		-			(120,644	)
Deferred tax assets		-			179,646			179,646			579,844			(274,598	)		305,246
Other assets		(862,462	)		-			(862,462	)		324,906			-			324,906
Increase/ (decrease) in current liabilities:
Trade payables		3,737,665			-			3,737,665			(769,094	)		-			(769,094	)
Net cash used in operating activities		(4,034,980	)		-			(4,034,980	)		(2,855,751	)		-			(2,855,751	)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in investing activities		(790,967	)		-			(790,967	)		(824,747	)		-			(824,747	)
CASH FLOWS FROM FINANCING
ACTIVITIES
Net cash provided by financing activities		7,751,988			-			7,751,988			6,096,650			-			6,096,650
Net cash provided by operations		2,926,041			-			2,926,041			2,416,152			-			2,416,152
Effect of exchange rate changes on cash and cash equivalents		(163,975	)		-			(163,975	)		(827,350	)		-			(827,350	)
Net increase in cash and cash equivalents		2,762,066			-			2,762,066			1,588,802			-			1,588,802
Cash and cash equivalents at the beginning of the period		2,854,959			-			2,854,959			5,617,025			-			5,617,025
Cash and cash equivalents at the end of the period		5,617,025			-			5,617,025			7,205,827			-			7,205,827
SUPPLEMENTAL DISCLOSURES:
Cash paid during the year for:
Income tax payments	$	-		$	-		$	-		$	-		$	-		$	-
Interest payments	$	1,711,920		$	-		$	1,711,920		$	1,905,471		$	-		$	1,905,471