XML 31 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (236,600) $ (442,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 103,200 2,000
Accretion of fair value - contingent payments 21,100   
Gain on sale of Symbius investment (86,800)   
Gain on sale of marketable securities (751,500) (360,400)
Stock and warrants issued for services    26,500
Stock-based compensation 111,000 7,800
Changes in operating assets and liabilities:    
Accounts receivable (56,500) 101,900
Other receivables (24,400)   
Interest receivable    (5,500)
Prepaid expenses and other current assets (41,500) (162,300)
Trust account-asset retirement obligation (25,300)   
Accounts payable and accrued expenses (363,000) (174,500)
Net cash used in operating activities (1,350,300) (1,006,500)
CASH FLOWS FROM INVESTING ACTIVITIES    
Issuance of note receivable to American Citizenship Center, LLC 50,000 300,000
Proceeds from repayment of Symbius and ACC note 175,000   
Purchase of land, property, and equipment (934,500) (1,600)
Proceeds from sale of marketable securities 2,927,900 3,021,100
Proceeds from sale of Symbius investment, net of legal expenses 248,900   
Net cash provided by investing activities 2,367,300 2,719,500
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayament on borrowings (200,000) (600,000)
Proceeds from exercise of stock options    151,200
Purchase of treasury shares    (20,700)
Payment for listing fees    (4,000)
Other    (600)
Net cash used in financing activities (200,000) (474,100)
NET INCREASE IN CASH 817,000 1,238,900
CASH AND CASH EQUIVALENTS, beginning of period 284,300 783,200
CASH AND CASH EQUIVALENTS, end of period 1,101,300 2,022,100
Non-Cash Activities:    
Unrealized gain (loss) on marketable securities 416,900 635,200
Value of shares issued in payment of interest and services    26,500
Series B preferred stock dividend, paid in kind    30,500
Gain on redemption of Series B preferred stock net of legal fees   443,200
Marketable securities paid for services    100,000
Settlement of Series B Preferred Stock for a note payable    $ 800,000