----

| (Amounts      in 000’s)                                                                                                                   |   | THREE      MONTHS ENDEDMARCH      31, |    |   | NINE      MONTHS ENDEDMARCH      31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|--------|--------------------------------------|--------|
|                                                                                                                                            |   | 2009                                  |    |   | 2008                                 |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |
| Net      income (loss)                                                                                                                          |   | $                                     | 293     |   |                                 | $      | 87 |   |   | $ | (9,672 | ) |   | $ | 1,499 |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense – net                                                                                                               |   |                                  | 66      |   |                                 |   | 26 |   |   |   | 157 |   |   |   | 98 |   |
| Income      tax expense (benefit)                                                                                                               |   |                                  | 63      |   |                                 |   | 36 |   |   |   | (167 | ) |   |   | 772 |   |
| Depreciation      and amortization                                                                                                              |   |                                  | 479     |   |                                 |   | 239 |   |   |   | 1,267 |   |   |   | 721 |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| EBITDA                                                                                                                                          |   |                                  | 901     |   |                                 |   | 388 |   |   |   | (8,415 | ) |   |   | 3,090 |   |
| Share-based      compensation and      other             non-cash      charges |   |                                  | 47      |   |                                 |   | 107 |   |   |   | 136 |   |   |   | 244 |   |
| Change      in estimate of liabilities assumed in Airgroup acquisition                                                                          |   |                                  | — |   |                                 |   | — |   |   |   | — |   |   |   | (1,431 | ) |
| Tax      indemnity                                                                                                                              |   |                                  | — |   |                                 |   | — |   |   |   | — |   |   |   | (487 | ) |
| Goodwill      impairment (recovery)                                                                                                             |   |                                  | (190    | )      |                                 |   | — |   |   |   | 11,213 |   |   |   | — |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Adjusted      EBITDA                                                                                                                            |   | $                                     | 758     |   |                                 | $      | 495 |   |   | $ | 2,934 |   |   | $ | 1,416 |   |
|                                                                                                                                            |   |                                  |    |   |                                 |   |   |   |   |   |   |   |   |   |   |   |

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                              |   | March      31, |          |   | June      30, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------------|--------|---------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009           |          |   | 2008          |   |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                            |   |           |          |   |          |   |
| Current      assets -                                                                                                                                                                                                                                                                                                                                                                                                             |   |           |          |   |          |   |
| Cash      and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                    |   | $              | 514,337       |   |          | $      | 392,223 |   |
| Accounts      receivable, net of allowance for doubtful accounts of $979,445      at March  31, 2009 and $513,479 at June 30, 2008                                                                                                                                                                                                                                                                                      |   |           | 16,365,501    |   |          |   | 14,404,002 |   |
| Current      portion of employee loan receivables and other receivables                                                                                                                                                                                                                                                                                                                                                           |   |           | 608,697       |   |          |   | 68,367 |   |
| Income      tax deposit                                                                                                                                                                                                                                                                                                                                                                                                           |   |           | 875,282       |   |          |   | — |   |
| Prepaid      expenses and other current assets                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 395,542       |   |          |   | 425,657 |   |
| Deferred      tax asset                                                                                                                                                                                                                                                                                                                                                                                                           |   |           | 606,711       |   |          |   | 292,088 |   |
|               Total      current assets                                                                                                                                                                                                                                                                                                                     |   |           | 19,366,070    |   |          |   | 15,582,337 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| Furniture      and equipment, net                                                                                                                                                                                                                                                                                                                                                                                                 |   |           | 872,281       |   |          |   | 717,542 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| Acquired      intangibles, net                                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 3,528,198     |   |          |   | 1,242,413 |   |
| Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                          |   |           | —       |   |          |   | 7,824,654 |   |
| Employee      loan receivable                                                                                                                                                                                                                                                                                                                                                                                                     |   |           | 40,000        |   |          |   | 40,000 |   |
| Investment      in real estate                                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 40,000        |   |          |   | 40,000 |   |
| Deposits      and other assets                                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 374,080       |   |          |   | 156,280 |   |
|               Total      long term assets                                                                                                                                                                                                                                                                                                                   |   |           | 3,982,278     |   |          |   | 9,303,347 |   |
|                  Total      assets                                                                                                                                                                                                                                                                                                           |   | $              | 24,220,629    |   |          | $      | 25,603,226 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS'      EQUITY                                                                                                                                                                                                                                                                                                                                                                                         |   |           |          |   |          |   |   |   |
| Current      liabilities -                                                                                                                                                                                                                                                                                                                                                                                                        |   |           |          |   |          |   |   |   |
| Notes      payable                                                                                                                                                                                                                                                                                                                                                                                                                |   | $              | —       |   |          | $      | 113,306 |   |
| Accounts      payable and accrued transportation costs                                                                                                                                                                                                                                                                                                                                                                            |   |           | 11,945,163    |   |          |   | 9,914,831 |   |
| Commissions      payable                                                                                                                                                                                                                                                                                                                                                                                                          |   |           | 1,369,047     |   |          |   | 1,136,859 |   |
| Other      accrued costs                                                                                                                                                                                                                                                                                                                                                                                                          |   |           | 804,602       |   |          |   | 221,808 |   |
| Income      taxes payable                                                                                                                                                                                                                                                                                                                                                                                                         |   |           | —       |   |          |   | 498,142 |   |
| Due      to former Adcom shareholder                                                                                                                                                                                                                                                                                                                                                                                              |   |           | 2,243,730     |   |          |   | — |   |
| Total      current liabilities                                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 16,362,542    |   |          |   | 11,884,946 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| Long      term debt                                                                                                                                                                                                                                                                                                                                                                                                               |   |           | 7,685,931     |   |          |   | 4,272,032 |   |
| Deferred      tax liability                                                                                                                                                                                                                                                                                                                                                                                                       |   |           | 685,008       |   |          |   | 422,419 |   |
| Total      long term liabilities                                                                                                                                                                                                                                                                                                                                                                                                  |   |           | 8,370,939     |   |          |   | 4,694,451 |   |
| Total      liabilities                                                                                                                                                                                                                                                                                                                                                                                                            |   |           | 24,733,481    |   |          |   | 16,579,397 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| Stockholders'      equity (deficit):                                                                                                                                                                                                                                                                                                                                                                                              |   |           |          |   |          |   |   |   |
| Preferred      stock, $0.001 par value, 5,000,000 shares authorized; no shares issued or      outstanding                                                                                                                                                                                                                                                                                                                         |   |           | —       |   |          |   | — |   |
|            Common      stock, $0.001 par value, 50,000,000 shares authorized:                issued      and outstanding: 34,701,960 at March 31, 2009 and                34,660,293      at June 30, 2008 |   |           |   16,158 |   |          |   |   16,116 |   |
|             Additional      paid-in capital                                                                                                                                                                                                                                                                                                                           |   |           | 7,839,414     |   |          |   | 7,703,658 |   |
|             Retained      earnings (deficit)                                                                                                                                                                                                                                                                                                                          |   |           | (8,368,424    | )      |          |   | 1,304,055 |   |
| Total      stockholders’ equity (deficit)                                                                                                                                                                                                                                                                                                                                                                                   |   |           | (512,852      | )      |          |   | 9,023,829 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $              | 24,220,629    |   |          | $      | 25,603,226 |   |

----

RADIANTLOGISTICS, INC.

|                                                               |   | THREE      MONTHS ENDEDMARCH      31, |       |   | NINE      MONTHS ENDEDMARCH      31, |   |
|--------------------------------------------------------------------|--------|---------------------------------------|------------|--------|--------------------------------------|--------|
|                                                               |   | 2009                                  |       |   | 2008                                 |   |   | 2009 |   |   | 2008 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |
| Revenue                                                            |   | $                                     | 29,718,852 |   |                                 | $      | 25,765,377 |   |   | $ | 104,626,813 |   |   | $ | 74,431,411 |   |
| Cost      of transportation                                        |   |                                  | 18,971,855 |   |                                 |   | 16,264,393 |   |   |   | 69,207,198 |   |   |   | 48,093,022 |   |
| Net      revenues                                                  |   |                                  | 10,746,997 |   |                                 |   | 9,500,984 |   |   |   | 35,419,615 |   |   |   | 26,338,389 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Agent      commissions                                             |   |                                  | 6,981,916  |   |                                 |   | 6,611,130 |   |   |   | 23,535,316 |   |   |   | 18,617,364 |   |
| Personnel      costs                                               |   |                                  | 1,825,106  |   |                                 |   | 1,199,467 |   |   |   | 5,548,465 |   |   |   | 3,836,707 |   |
| Selling,      general and administrative expenses                  |   |                                  | 1,188,977  |   |                                 |   | 1,268,558 |   |   |   | 3,309,679 |   |   |   | 2,703,589 |   |
| Depreciation      and amortization                                 |   |                                  | 479,061    |   |                                 |   | 238,822 |   |   |   | 1,267,124 |   |   |   | 720,426 |   |
| Restructuring      charge                                          |   |                                  | —    |   |                                 |   | — |   |   |   | 220,000 |   |   |   | — |   |
|       Total      operating expenses  |   |                                  | 10,475,060 |   |                                 |   | 9,317,977 |   |   |   | 33,880,584 |   |   |   | 25,878,086 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Income      from operations                                        |   |                                  | 271,937    |   |                                 |   | 183,007 |   |   |   | 1,539,031 |   |   |   | 460,303 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Other      income (expense):                                       |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Interest      income                                               |   |                                  | 2,482      |   |                                 |   | 800 |   |   |   | 8,900 |   |   |   | 3,200 |   |
| Interest      expense                                              |   |                                  | (68,392    | )      |                                 |   | (27,173 | ) |   |   | (166,471 | ) |   |   | (101,045 | ) |
| Other-      non recurring                                          |   |                                  | —    |   |                                 |   | — |   |   |   | — |   |   |   | 1,918,146 |   |
| Goodwill      impairment                                           |   |                                  | 190,000    |   |                                 |   | — |   |   |   | (11,213,342 | ) |   |   | — |   |
| Other                                                              |   |                                  | (18,089    | )      |                                 |   | (47,811 | ) |   |   | 12,126 |   |   |   | (54,550 | ) |
|      Total      other income (expense)    |   |                                  | 106,001    |   |                                 |   | (74,184 | ) |   |   | (11,358,787 | ) |   |   | 1,765,751 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Income      (loss) before income tax benefit and minority interest |   |                                  | 377,938    |   |                                 |   | 108,823 |   |   |   | (9,819,756 | ) |   |   | 2,226,054 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Income      tax (expense) benefit                                  |   |                                  | (63,150    | )      |                                 |   | (35,841 | ) |   |   | 166,881 |   |   |   | (772,378 | ) |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Income      (loss) before minority interest                        |   |                                  | 314,788    |   |                                 |   | 72,982 |   |   |   | (9,652,875 | ) |   |   | 1,453,676 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Minority      interest                                             |   |                                  | (21,750    | )      |                                 |   | 13,696 |   |   |   | (19,604 | ) |   |   | 45,642 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss)                                             |   | $                                     | 293,038    |   |                                 | $      | 86,678 |   |   | $ | (9,672,479 | ) |   | $ | 1,499,318 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss) per common share – basic              |   | $                                     | .01        |   |                                 | $      | — |   |   | $ | (.28 | ) |   | $ | .04 |   |
| Net      income (loss) per common share – diluted            |   | $                                     | .01        |   |                                 | $      | — |   |   | $ | (.28 | ) |   | $ | .04 |   |
|                                                               |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average shares outstanding:                          |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Basic      shares                                                  |   |                                  | 34,701,960 |   |                                 |   | 34,115,010 |   |   |   | 34,699,679 |   |   |   | 34,012,391 |   |
| Diluted      share                                                 |   |                                  | 34,701,960 |   |                                 |   | 34,134,454 |   |   |   | 34,699,679 |   |   |   | 34,218,416 |   |

----

|                                                                                                                   |   | THREE      MONTHS ENDEDMARCH      31, |       |   | NINE      MONTHS ENDEDMARCH      31, |   |
|------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|--------|--------------------------------------|--------|
|                                                                                                                   |   | 2009                                  |       |   | 2008                                 |   |   | 2009 |   |   | 2008 |   |
| Adjusted      EBITDA                                                                                                   |   | $                                     | 758,458    |   |                                 | $      | 495,241 |   |   | $ | 2,934,647 |   |   | $ | 1,415,870 |   |
| Stock-based      compensation and other non-cash charges                                                               |   |                                  | (47,299    | )      |                                 |   | (107,527 | ) |   |   | (135,970 | ) |   |   | (244,049 | ) |
| Change      in Estimate of liabilities assumed in Airgroup Acquisition                                                 |   |                                  | —    |   |                                 |   | — |   |   |   | — |   |   |   | 1,431,452 |   |
| Goodwill      (impairment) recovery                                                                                    |   |                                  | 190,000    |   |                                 |   | — |   |   |   | (11,213,342 | ) |   |   | — |   |
| Tax      indemnity                                                                                                     |   |                                  | —    |   |                                 |   | — |   |   |   | — |   |   |   | 486,694 |   |
| EBITDA                                                                                                                 |   |                                  | 901,159    |   |                                 |   | 387,714 |   |   |   | (8,414,665 | ) |   |   | 3,089,967 |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation      and amortization                                                                                     |   |                                  | (479,061   | )      |                                 |   | (238,822 | ) |   |   | (1,267,124 | ) |   |   | (720,426 | ) |
| Interest      expense, net                                                                                             |   |                                  | (65,910    | )      |                                 |   | (26,373 | ) |   |   | (157,571 | ) |   |   | (97,845 | ) |
| Income      tax (expense) benefit                                                                                      |   |                                  | (63,150    | )      |                                 |   | (35,841 | ) |   |   | 166,881 |   |   |   | (772,378 | ) |
| Net      income (loss)                                                                                                 |   |                                  | 293,038    |   |                                 |   | 86,678 |   |   |   | (9,672,479 | ) |   |   | 1,499,318 |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| ADJUSTMENTS      TO RECONCILE NET INCOME (LOSS) TO NET CASH                                                            |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| PROVIDED      BY OPERATING ACTIVITIES:                                                                                 |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Non-cash      compensation expense (stock options)                                                                     |   |                                  | 43,022     |   |                                 |   | 57,282 |   |   |   | 123,714 |   |   |   | 150,384 |   |
| Stock      issued for investor relations services                                                                      |   |                                  | —    |   |                                 |   | 37,500 |   |   |   | 12,084 |   |   |   | 37,500 |   |
| Amortization      of intangibles                                                                                       |   |                                  | 349,155    |   |                                 |   | 136,840 |   |   |   | 914,215 |   |   |   | 410,520 |   |
| Change      in deferred taxes                                                                                          |   |                                  | (1,834,900 | )      |                                 |   | (35,591 | ) |   |   | (1,268,034 | ) |   |   | (710,438 | ) |
| Depreciation      and amortization of bank fees                                                                        |   |                                  | 134,180    |   |                                 |   | 101,982 |   |   |   | 365,164 |   |   |   | 309,906 |   |
| Goodwill      impairment (recovery)                                                                                    |   |                                  | (190,000   | )      |                                 |   | — |   |   |   | 11,213,342 |   |   |   | — |   |
| Tax      indemnity                                                                                                     |   |                                  | —    |   |                                 |   | — |   |   |   | — |   |   |   | (486,694 | ) |
| Minority      interest in income (loss) of subsidiaries                                                                |   |                                  | 21,750     |   |                                 |   | (13,697 | ) |   |   | 19,604 |   |   |   | (45,642 | ) |
| Provision      for doubtful accounts                                                                                   |   |                                  | (14,994    | )      |                                 |   | 165,629 |   |   |   | 134,101 |   |   |   | 381,533 |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| CHANGE      IN OPERATING ASSETS AND LIABILITIES:                                                                       |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Accounts      receivable                                                                                               |   |                                  | 4,697,177  |   |                                 |   | (782,232 | ) |   |   | 8,354,248 |   |   |   | 1,145,236 |   |
| Employee  receivable      and other receivables                                                              |   |                                  | 137,760    |   |                                 |   | (2,375 | ) |   |   | (109,293 | ) |   |   | 31,208 |   |
| Prepaid      expenses and other assets                                                                                 |   |                                  | 10,016     |   |                                 |   | (40,983 | ) |   |   | 171,685 |   |   |   | 334,898 |   |
| Accounts      payable & accrued transportation costs                                                               |   |                                  | (395,585   | )      |                                 |   | 139,819 |   |   |   | (6,914,471 | ) |   |   | (3,346,953 | ) |
| Commissions      payable                                                                                               |   |                                  | 7,987      |   |                                 |   | 450,906 |   |   |   | 232,188 |   |   |   | 455,542 |   |
| Other      accrued costs                                                                                               |   |                                  | (98,560    | )      |                                 |   | 15,016 |   |   |   | 32,009 |   |   |   | (138,460 | ) |
| Income      tax payable                                                                                                |   |                                  | —    |   |                                 |   | (178,568 | ) |   |   | (498,142 | ) |   |   | 860,221 |   |
| Income      tax deposits                                                                                               |   |                                  | 1,162,360  |   |                                 |   | — |   |   |   | (790,254 | ) |   |   | — |   |
|                 Total      adjustments |   |                                  | 4,029,368  |   |                                 |   | 51,528 |   |   |   | 11,922,160 |   |   |   | (611,239 | ) |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Net      cash provided by operating  activities                                                              |   | $                                     | 4,322,406  |   |                                 | $      | 138,206 |   |   | $ | 2,319,681 |   |   | $ | 888,079 |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                   |   |                                  |       |   |                                 |   |   |   |   |   |   |   |   |   |   |   |

----