v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows provided by (used in) operating activities:    
Net income $ 2,090,753 $ 1,069,596
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Non cash compensation 67,031
Depreciation & amortization 81,137 57,859
Deferred income tax
Provision for allowance for doubtful accounts for accounts receivable and contracts receivable 556,316 442,641
Changes in assets and liabilities:    
Accounts receivable 82,193 (1,953,326)
Prepaid expenses (208,042) (208,700)
Other receivables
Related party receivable
Other assets (34,133) 41,805
Accounts payable and accrued liabilities 490,941 186,428
Income tax payable (1,147,624) 647,131
Deferred unearned tuition 1,206,682 201,183
Net cash provided by operating activities 3,185,254 484,617
Cash flows used in investing activities:    
Purchases of property and equipment (235,816) (177,392)
Net cash used in investing activities (235,816) (177,392)
Cash flows provided by financing activities:    
Proceeds from IPO, net of offering cost 8,216,438
Proceeds from exercise of options 39,520
Principal payment on finance lease (56,184) (54,614)
Principal payments on debt (32,743) (151,110)
Net cash provided by (used in) financing activities 8,167,031 (205,724)
Net increase cash and cash equivalents and restricted cash 11,116,469 101,501
Cash and cash equivalents and restricted cash, beginning of year 10,376,149 9,389,606
Cash and cash equivalents and restricted cash, end of year 21,492,618 9,491,107
Supplemental disclosure of cash flow information    
Cash paid during the periods for interest 24,052 27,602
Cash paid during the periods for income taxes 1,960,693
Supplemental disclosure of noncash activities    
Non-cash purchase of financed lease assets 340,048
Non-cash purchase of equipment 39,275 34,580
Prepaid expense reclassifies to offering cost $ 276,866

Source

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