v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows provided by (used in) operating activities:    
Net income $ 6,307,264 $ 4,153,508
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Non cash compensation 283,553
Depreciation & amortization 317,047 189,672
Deferred income tax
Provision for allowance for doubtful accounts for accounts receivable and contracts receivable 3,445,762 1,428,898
Changes in assets and liabilities:    
Accounts receivable (5,659,199) (3,876,432)
Prepaid expenses (280,625) (185,983)
Other receivable (656,340) 560
Other assets (38,119) 69,975
Accounts payable and accrued liabilities (15,435) (185,350)
Income tax payable (1,371,247) 350,183
Other current liabilities 64,400
Deferred rent (77,628)
Deferred unearned tuition 2,430,343 739,410
Net cash provided by operating activities 4,763,003 2,671,213
Cash flows used in investing activities:    
Cash paid under APA (6,133,087)
Purchases of property and equipment (750,163) (408,388)
Net cash used in investing activities (6,883,250) (408,388)
Cash flows provided by financing activities:    
Return uncleared dividend payment   3,200
Proceeds from IPO, net of offering cost 9,162,845
Proceeds from exercise of options 104,927
Principal payment on finance lease (63,145) (54,469)
Principal payments on debt (133,531) (189,679)
Net cash provided by (used in) financing activities 9,071,096 (240,948)
Net increase cash and cash equivalents and restricted cash 6,950,849 2,021,877
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 period 17,326,998 11,411,483
Supplemental disclosure of cash flow information    
Cash paid during the periods for interest 79,142 81,601
Cash paid during the periods for income taxes 1,211,413 1,500,889
Supplemental disclosure of noncash activities    
Non-cash purchase of financed lease assets 340,048
Non-cash purchase of equipment 39,275 61,110
Prepaid expense reclassifies to offering cost 276,866
Common stock issued as part of APA 1,000,000
Promissory note under APA 400,000
Net identifiable assets acquired under APA $ 267,136

Source

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