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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss attributable to common shareholders	$ (249,492)	$ 17,651
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	5,004	3,879
(Gain) Loss on change in derivative liability		(13,182)
Stock based compensation	2,000
Changes in operating assets and liabilities
Commission Receivable from Clearing Firm	14,985	(25,957)
Due from clearing organization	19,755	325,352
Securities held for resale, at market	(159)	(282,204)
Advances to/from registered representatives	6,701	4,852
Other assets		28,059
Due to clearing organization		12,822
Accounts Payable, accrued expenses & other Liabilities	28,393	(21,136)
TOTAL ADJUSTMENTS	76,679	32,485
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(172,813)	50,136
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Equipment	(13,602)
NET CASH USED IN INVESTING ACTIVITIES	(13,602)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances to affiliated companies	33,299	2,880
Advances from affiliated companies		(1,182)
Proceeds from sale of common stock	87,000
Repayment of notes receivable	14,401
Repayment of Notes Payable	5,158	(2,168)
Repayment of line of credit		(25,000)
Repayment of capital lease	(4,540)	(3,614)
NET CASH PROVIDED BY FINANCING ACTIVITIES	135,318	(29,084)
NET (DECREASE) INCREASE IN CASH	(51,097)	21,052
CASH - Beginning of Period	58,856	2,635
CASH - End of Period	7,759	23,687
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during year for Interest	1,165	4,074
Cash paid during year for Income Taxes	$ 2,645	$ 2,162

The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method.

NETWORK 1 FINANCIAL GROUP, INC. 10-Q/A