Exhibit
99.1





Contact:
                  Bohn
      H. Crain
                    Chief
      Executive Officer
                    Radiant
      Logistics, Inc.
                    (425)
      943-4599




RADIANT
POSTS 63% GROWTH WITH ADJUSTED EBITDA OF $1,672,000 FOR


THE
FISCAL SECOND QUARTER ENDED DECEMBER 31, 2010





Provides
Upward Guidance from $5,000,000 to $5,500,000 in Adjusted EBITDA
for


FYE
June 30, 2011








BELLEVUE,
WA, February 14, 2011 – Radiant Logistics, Inc. (OTC BB: RLGT), a domestic and
international freight forwarding and logistics services company, today
reportedfinancial
results for the three and six months ended December 31,
2010.





For the
three months ended December 31, 2010,
Radiant reported net income of $716,000 on $44.5 million of revenues, or $0.02
per basic and fully diluted share, including a charge on litigation settlement
of $150,000.  For the three months ended December 31, 2009,
Radiant reported net income of $549,000 on $39.1 million of revenues, or $0.02
per basic and fully diluted share, including a gain on litigation settlement of
$355,000.





For the
six months ended December 31, 2010,
Radiant reported net income of $1,499,000 on $90.9 million of revenues, or $0.05
per basic and fully diluted share, including a charge on litigation settlement
of $150,000.  For the six months ended December 31, 2009,
Radiant reported net income of $665,000 on $73.1 million of revenues, or $0.02
per basic and fully diluted share, including a gain on litigation settlement of
$355,000.





In
December of 2010, the Company recorded a charge of $150,000 in connection with
the settlement of a dispute with one of its competitors related to the 2007
departure of our competitor’s then Chicago operation. By agreement among the
parties, without admission of any wrong doing on the part of the Company and
with affirmation of the parties’ right to freely compete in the marketplace, the
Company agreed to make a $150,000 donation to a mutually agreeable IRC 503(c)
charitable organization.  Neither the Company nor our competitor
received any payment in connection with the settlement.








In
December 2009, the Company recorded a gain of $355,000 in connection with the
favorable settlement of a dispute with the former owner of Adcom Worldwide
related to the calculation and payment of working capital and certain related
post-closing items.





The
Company also reported adjusted EBITDA (earnings before interest, taxes,
depreciation amortization), excluding the non-recurring items, of $1,672,000 for
the three months endedDecember 31, 2010,
compared to adjusted EBITDA of $1,026,000 for the comparable prior year
period.





The
Company also reported adjusted EBITDA (earnings before interest, taxes,
depreciation amortization), excluding the non-recurring items, of $3,381,000 for
the six months endedDecember 31, 2010 compared to adjusted EBITDA of
$1,750,000  for the comparable prior year period. A reconciliation of
our adjusted EBITDA to the most directly comparable GAAP measure appears at the
end of this release.





“We
remain very pleased with our overall operating results,” said Bohn Crain,
Chairman and CEO. “For the quarter ended December 31, 2010, our revenues
increased 13.8% to $44.5 million as compared to $39.1 million for the comparable
prior year period.  Net transportation revenues also increased 23.3%
to $14.2 million as compared to $11.5 million for the comparable prior year
period.  This improvement was a direct result of the improving economy
and resurgence of our domestic transportation services.  We also
continue to focus on our personnel and general administrative costs as a
function of our net revenues and the continuing positive trend surrounding our
controllable costs. As a percentage of net revenues, our personnel costs
decreased from 13.3% to 11.0%. Our selling, general and administrative costs, as
a percentage of net revenues, decreased from 10.0% to 8.0%. We are very excited
about these trends, the leverage of our scalable non-asset based business model
and the anticipated margin expansion available to us as we continue to execute
our growth strategy.”





Crain
concluded, “As we look forward to the balance of our fiscal year ending June 30,
2011, we are cautiously optimistic as to the sustainability of the economic
recovery. For the fiscal year ending June 30, 2011, we are updating our prior
guidance and expect to generate approximately $5.5 million in adjusted EBITDA on
$175.0 million in annual revenues.  This is before considering the
impact of any future acquisitions over the balance of the fiscal
year.  Looking forward, our strategy remains unchanged. From our
current platform, we believe profitable growth can be best achieved by
continuing to bring value to the agent-based forwarder community and continuing
to execute our three-prong strategy of first, providing continuous improvement
to our existing network participants in terms of technology, buy rates and
enhanced service offerings; second, building upon the success of our organic
growth initiative by on-boarding additional agent stations; and third,
opportunistically pursuing acquisition opportunities, including strategic
opportunities within the community of agent-based forwarders. Through this
process we have identified and are in conversations with a select number of
potential partners that could materially accelerate our growth.  I
look forward to updating you on our progress in the coming months as these
opportunities continue to develop.”





Supplemental Pro Forma
Information





We
believe that supplemental disclosure of our adjusted EBITDA, or earnings before
interest, taxes, depreciation and amortization adjusted for stock-based
compensation, goodwill impairment and other non-cash costs is a useful measure
for investors because it eliminates the effect of certain non-cash costs and
provides an important metric for our business.  Adjusted EBITDA is a
non-GAAP measure of income.  A reconciliation of adjusted EBITDA
amounts to Net income, the most directly comparable GAAP measure, for the three
and six months ended December 31, 2010 and 2009 is shown below:









(Amounts in 000’s)
                      
                      THREE MONTHS ENDED
                        DECEMBER 31,
                      
                      
                      SIX MONTHS ENDED
                        DECEMBER 31,2010
                      
                      
                      2009
                      
                      
                      2010
                      
                      
                      2009Net
      income
                      
                      $
                      716
                      
                      
                      $
                      549
                      
                      
                      $
                      1,499
                      
                      
                      $
                      665Net
      interest expense
                      
                      
                      36
                      
                      
                      
                      27
                      
                      
                      
                      72
                      
                      
                      
                      82Income
      tax expense
                      
                      
                      414
                      
                      
                      
                      337
                      
                      
                      
                      920
                      
                      
                      
                      408Depreciation
      and amortization
                      
                      
                      327
                      
                      
                      
                      386
                      
                      
                      
                      652
                      
                      
                      
                      796EBITDA
                      
                      
                      1,493
                      
                      
                      
                      1,299
                      
                      
                      
                      3,413
                      
                      
                      
                      1,951Share-based
      compensation and other non-cash charges
                      
                      
                      29
                      
                      
                      
                      82
                      
                      
                      
                      88
                      
                      
                      
                      154(Gain)
      or loss on litigation settlement
                      
                      
                      150
                      
                      
                      
                      (355
                      )
                      
                      
                      150
                      
                      
                      
                      (355
                      )Adjusted
      EBITDA
                      
                      $
                      1,672
                      
                      
                      $
                      1,026
                      
                      
                      $
                      3,381
                      
                      
                      $
                      1,750





This
supplemental pro forma financial information is presented for informational
purposes only and is not a substitute for the historical financial information
presented in accordance with accounting principles generally accepted in the
United States. A reconciliation of adjusted EBITDA amounts to Net income, the
most directly comparable GAAP measure, for the fiscal year ending June 30, 2011
is shown below:




Financial
Outlook





(Amounts
      in 000’s)Outlook Fiscal Year
                        Ended
                        June30, 2011
                      
                      
                      Actual Fiscal
                        Year Ended
                        June 30, 2010Net
      income
                      
                      $
                      2,417
                      
                      
                      $
                      1,959Net
      interest expense
                      
                      
                      200
                      
                      
                      
                      135Income
      tax expense
                      
                      
                      1,482
                      
                      
                      
                      1,093Depreciation
      and amortization
                      
                      
                      1,119
                      
                      
                      
                      1,598EBITDA
                      
                      
                      5,218
                      
                      
                      
                      4,785Stock-based
      compensation and othernon-cash
      charges
                      
                      
                      132
                      
                      
                      
                      315Gain
      on extinguishment of debt
                      
                      
                      -
                      
                      
                      
                      (135
                      )Business
      & Occupancy tax refund
                      
                      
                      -
                      
                      
                      
                      (364
                      )(Gain)
      loss on litigation settlement
                      
                      
                      150
                      
                      
                      
                      (355
                      )Adjusted
      EBITDA
                      
                      $
                      5,500
                      
                      
                      $
                      4,246








Investor Conference
Call





Radiant
will host a conference call for shareholders and the investing community on
Tuesday, February 15, 2011 at 4:00 pm, ET to discuss the contents of the
release. The call can be accessed by dialing (877) 407-8031, or (201) 689-8031
for international participants, and is expected to last approximately 30
minutes. Callers are requested to dial in 5 minutes before the start of the
call. An audio replay will be available for one week after the teleconference by
dialing (877) 660-6853, or (201) 612-7415 for international callers, and using
account number 286 and conference ID number 366738.





About Radiant Logistics (OTC
BB: RLGT)




Radiant
Logistics (www.radiantdelivers.com) is a non-asset
based logistics company providing domestic and international freight forwarding
and related services through a network of approximately 70 company owned and
exclusive agent offices across North America. Operating under the Airgroup,
Adcom Worldwide and Radiant brands, the company services a diversified account
base including manufacturers, distributors and retailers using a network of
independent carriers and international agents positioned strategically around
the world. For more information about Radiant Logistics, please contact Bohn
Crain at (425) 943-4599.








This
press release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, regarding future operating performance,
events, trends and plans. All statements other than statements of historical
fact contained herein, including, without limitation, statements regarding our
future financial position, business strategy, budgets, projected revenues and
costs, and plans and objectives of management for future operations, are
forward-looking statements.  Forward-looking statements generally can
be identified by the use of forward-looking terminology such as “may,” “will,”
“expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or
“believes” or the negative thereof or any variation thereon or similar
terminology or expressions. We have based these forward-looking statements on
our current expectations and projections about future events. These
forward-looking statements are not guarantees and are subject to known and
unknown risks, uncertainties and assumptions about us that may cause our actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking statements. Important
factors that could cause our actual results to differ from our expectations,
include but are not limited to, our ability to: use our current infrastructure
as a “platform” upon which we can build a profitable global transportation and
supply chain management company; retain and build upon the relationships we have
with our exclusive agency offices; continue the development of our back office
infrastructure and transportation and accounting systems in a manner sufficient
to service our expanding revenues and base of exclusive agency locations;
continue growing our business and maintain historical or increased gross profit
margins; locate suitable acquisition opportunities; secure the financing
necessary to complete any acquisition opportunities we locate; assess and
respond to competitive practices in the industries in which we compete,
mitigate, to the best extent possible, our dependence on current management and
certain of our larger exclusive agency locations; assess and respond to the
impact of current and future laws and governmental regulations affecting the
transportation industry in general and our operations in particular; as well as
those risk factors disclosed in Item 1A of our Report on Form 10 K for the year
ended June 30, 2010 other filings with the Securities and Exchange Commission
and other public documents and press releases which can be found on our web-site
(www.radiantdelivers.com). Readers are cautioned not to place undue reliance on
our forward-looking statements, as they speak only as of the date made. Such
statements are not guarantees of future performance or events and we undertake
no obligation to disclose any revision to these forward-looking statements to
reflect events or circumstances occurring after the date
hereof.







RADIANT
LOGISTICS, INC.
 Consolidated
Balance Sheets
 
 December 31,
                            
                            
                            June 30,2010
                            
                            
                            2010ASSETSCurrent
      assets -Cash
      and cash equivalents
                            
                            $
                            98,042
                            
                            
                            $
                            682,108Accounts
      receivable, net of allowanceof
      $474,258 and $626,401 respectively
                            
                            
                            23,783,074
                            
                            
                            
                            21,442,023Current
      portion of employee loan receivable
                            
                            
                            18,001
                            
                            
                            
                            13,100Current
      portion of station and other receivables
                            
                            
                            110,822
                            
                            
                            
                            195,289Prepaid
      expenses and other current assets
                            
                            
                            1,779,261
                            
                            
                            
                            1,104,211Deferred
      tax asset
                            
                            
                            316,740
                            
                            
                            
                            402,428Total
      current assets
                            
                            
                            26,105,940
                            
                            
                            
                            23,839,159Furniture
      and equipment, net
                            
                            
                            880,678
                            
                            
                            
                            881,416Acquired
      intangibles, net
                            
                            
                            1,526,182
                            
                            
                            
                            2,019,757Goodwill
                            
                            
                            1,011,310
                            
                            
                            
                            982,788Employee
      loan receivable, net of current portion
                            
                            
                            29,526
                            
                            
                            
                            38,000Station
      and other receivables, net of current portion
                            
                            
                            136,051
                            
                            
                            
                            151,160Investment
      in real estate
                            
                            
                            40,000
                            
                            
                            
                            40,000Deposits
      and other assets
                            
                            
                            177,785
                            
                            
                            
                            153,116Deferred
      tax asset – long term
                            
                            
                            190,718
                            
                            
                            
                            106,023Total
      long term assets
                            
                            
                            3,111,572
                            
                            
                            
                            3,490,844Total
      assets
                            
                            $
                            30,098,190
                            
                            
                            $
                            28,211,419LIABILITIES
      AND STOCKHOLDERS' EQUITYCurrent
      liabilities -Accounts
      payable and accrued transportation costs
                            
                            
                            18,023,253
                            
                            
                            
                            16,004,814Commissions
      payable
                            
                            
                            1,965,506
                            
                            
                            
                            2,119,503Other
      accrued costs
                            
                            
                            684,796
                            
                            
                            
                            538,854Income
      taxes payable
                            
                            
                            212,410
                            
                            
                            
                            76,309Due
      to former Adcom shareholder
                            
                            
                            36,708
                            
                            
                            
                            603,205Other
      current liabilities
                            
                            
                            75,000
                            
                            
                            
                            -Total
      current liabilities
                            
                            
                            20,997,673
                            
                            
                            
                            19,342,685Long
      term debt
                            
                            
                            6,319,629
                            
                            
                            
                            7,641,021Deferred
      tax liability
                            
                            
                            611,024
                            
                            
                            
                            439,905Total
      long term liabilities
                            
                            
                            6,930,653
                            
                            
                            
                            8,080,926Total
      liabilities
                            
                            
                            27,928,326
                            
                            
                            
                            27,423,611Stockholders'
      equity: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:  December 31, 2010 – 29,782,721; June 30, 2010
      – 31,273,461
                            
                            
                            16,157
                            
                            
                            
                            16,157Common
      stock issuable, $0.001 par value,732,038 and 0 shares,
      respectively
                            
                            
                            732
                            
                            
                            
                            -Additional
      paid-in capital
                            
                            
                            8,446,788
                            
                            
                            
                            8,108,239Treasury
      stock, at cost, 4,919,239 and 3,428,499 shares,
    respectively
                            
                            
                            (1,407,455
                            )
                            
                            
                            (936,190
                            )Retained
      deficit
                            
                            
                            (4,967,738
                            )
                            
                            
                            (6,466,946
                            )Total
      Radiant Logistics, Inc. stockholders’ equity
                            
                            
                            2,088,484
                            
                            
                            
                            721,260Non-controlling
      interest
                            
                            
                            81,380
                            
                            
                            
                            66,548Total
      stockholders’ equity
                            
                            
                            2,169,864
                            
                            
                            
                            787,808Total
      liabilities and stockholders’ equity
                            
                            $
                            30,098,190
                            
                            
                            $
                            28,211,419
 
 1
 
 RADIANT
LOGISTICS, INC.
 Consolidated
Statements of Income (Operations)
 
 THREE MONTHS ENDED
                          DECEMBER 31,
                        
                        
                        SIX MONTHS ENDED
                          DECEMBER 31,2010
                        
                        
                        2009
                        
                        
                        2010
                        
                        
                        2009Revenue
                        
                        $
                        44,496,820
                        
                        
                        $
                        39,115,845
                        
                        
                        $
                        90,857,877
                        
                        
                        $
                        73,144,179Cost
      of transportation
                        
                        
                        30,314,763
                        
                        
                        
                        27,611,567
                        
                        
                        
                        62,557,124
                        
                        
                        
                        51,091,017Net
      revenues
                        
                        
                        14,182,057
                        
                        
                        
                        11,504,278
                        
                        
                        
                        28,300,753
                        
                        
                        
                        22,053,162Agent
      commissions
                        
                        
                        9,850,191
                        
                        
                        
                        7,838,360
                        
                        
                        
                        19,682,651
                        
                        
                        
                        15,293,565Personnel
      costs
                        
                        
                        1,561,268
                        
                        
                        
                        1,531,465
                        
                        
                        
                        3,118,428
                        
                        
                        
                        2,953,862Selling,
      general and administrative expenses
                        
                        
                        1,140,135
                        
                        
                        
                        1,153,161
                        
                        
                        
                        2,203,417
                        
                        
                        
                        2,249,433Depreciation
      and amortization
                        
                        
                        326,808
                        
                        
                        
                        385,937
                        
                        
                        
                        652,066
                        
                        
                        
                        795,717Total
      operating expenses
                        
                        
                        12,878,402
                        
                        
                        
                        10,908,923
                        
                        
                        
                        25,656,562
                        
                        
                        
                        21,292,577Income
      from operations
                        
                        
                        1,303,655
                        
                        
                        
                        595,355
                        
                        
                        
                        2,644,191
                        
                        
                        
                        760,585Other
      income (expense):Interest
      income
                        
                        
                        5,630
                        
                        
                        
                        9,563
                        
                        
                        
                        11,439
                        
                        
                        
                        3,273Interest
      expense
                        
                        
                        (42,179
                        )
                        
                        
                        (36,756
                        )
                        
                        
                        (84,421
                        )
                        
                        
                        (85,791
                        )Other
                        
                        
                        63,407
                        
                        
                        
                        454
                        
                        
                        
                        89,693
                        
                        
                        
                        98,765Gain
      (loss) on litigation settlement
                        
                        
                        (150,000
                        )
                        
                        
                        354,670
                        
                        
                        
                        (150,000
                        )
                        
                        
                        354,670Total
      other income (expense)
                        
                        
                        (123,142
                        )
                        
                        
                        327,931
                        
                        
                        
                        (133,289
                        )
                        
                        
                        370,917Income
      before income tax expense
                        
                        
                        1,180,513
                        
                        
                        
                        923,286
                        
                        
                        
                        2,510,902
                        
                        
                        
                        1,131,502Income
      tax expense
                        
                        
                        (413,319
                        )
                        
                        
                        (336,539
                        )
                        
                        
                        (918,862
                        )
                        
                        
                        (407,665
                        )Net
      income
                        
                        
                        767,194
                        
                        
                        
                        586,747
                        
                        
                        
                        1,592,040
                        
                        
                        
                        723,837Less:
      Net income attributable to non-controlling interest
                        
                        
                        (50,929
                        )
                        
                        
                        (37,638
                        )
                        
                        
                        (92,832
                        )
                        
                        
                        (58,678
                        )Net
      income attributable to Radiant Logistics, Inc.
                        
                        $
                        716,265
                        
                        
                        $
                        549,109
                        
                        
                        $
                        1,499,208
                        
                        
                        $
                        665,159Net
      income per common share – basic
                        
                        $
                        .02
                        
                        
                        $
                        .02
                        
                        
                        $
                        .05
                        
                        
                        $
                        .02Net
      income per common share – diluted
                        
                        $
                        .02
                        
                        
                        $
                        .02
                        
                        
                        $
                        .05
                        
                        
                        $
                        .02Weighted
      average shares outstanding:Basic
      shares
                        
                        
                        30,122,700
                        
                        
                        
                        32,533,680
                        
                        
                        
                        30,296,880
                        
                        
                        
                        32,950,810Diluted
      shares
                        
                        
                        31,212,861
                        
                        
                        
                        32,723,181
                        
                        
                        
                        30,968,361
                        
                        
                        
                        33,135,684
 
 The accompanying notes form an integral part of
these condensed consolidated financial statements.
  2
 
 RADIANT
LOGISTICS, INC.
 Reconciliation
of EBITDA to Net Income and Net Cash Provided By Operating
Activities
 (UNAUDITED)
 
 As used
in this report, adjusted EBITDA means earnings before interest, income taxes,
depreciation and amortization adjusted for stock-based compensation and other
non-cash charges.  We believe that adjusted EBITDA, as presented,
represents a useful method of assessing the performance of our operating
activities, as it reflects our earnings trends without the impact of certain
non-cash charges.  Adjusted EBITDA is also used by our creditors in
assessing debt covenant compliance.  We understand that although
securities analysts frequently use EBITDA in their evaluation of companies, it
is not necessarily comparable to other similarly titled captions of other
companies due to potential inconsistencies in the method of
calculation.  EBITDA is not intended as an alternative to cash flow
provided by operating activities as a measure of liquidity, as an alternative to
net income as an indicator of our operating performance, nor as an alternative
to any other measure of performance in conformity with accounting principles
generally accepted in the United States of America.
 
 The
following is a reconciliation of adjusted EBITDA to both net income and cash
flow provided by operating activities:
 
 THREE MONTHS ENDED
                          DECEMBER 31,
                        
                        
                        SIX MONTHS ENDED
                          DECEMBER 31,2010
                        
                        
                        2009
                        
                        
                        2010
                        
                        
                        2009Adjusted
      EBITDA
                        
                        $
                        1,671,798
                        
                        
                        $
                        1,026,166
                        
                        
                        $
                        3,380,778
                        
                        
                        $
                        1,750,106Stock-based
      compensation and other non-cash charges
                        
                        
                        (28,857
                        )
                        
                        
                        (82,058
                        )
                        
                        
                        (87,660
                        )
                        
                        
                        (153,717
                        )Gain
      (loss) on litigation settlement
                        
                        
                        (150,000
                        )
                        
                        
                        354,670
                        
                        
                        
                        (150,000
                        )
                        
                        
                        354,670EBITDA
                        
                        
                        1,492,941
                        
                        
                        
                        1,298,778
                        
                        
                        
                        3,143,118
                        
                        
                        
                        1,951,059Depreciation
      and amortization
                        
                        
                        (326,808
                        )
                        
                        
                        (385,937
                        )
                        
                        
                        (652,066
                        )
                        
                        
                        (795,717
                        )Interest
      expense, net
                        
                        
                        (36,549
                        )
                        
                        
                        (27,193
                        )
                        
                        
                        (72,982
                        )
                        
                        
                        (82,518
                        )Income
      tax expense
                        
                        
                        (413,319
                        )
                        
                        
                        (336,539
                        )
                        
                        
                        (918,862
                        )
                        
                        
                        (407,665
                        )Net
      income
                        
                        
                        716,265
                        
                        
                        
                        549,109
                        
                        
                        
                        1,499,208
                        
                        
                        
                        665,159ADJUSTMENTS
      TO RECONCILE NET INCOME TO NET CASHPROVIDED
      BY (USED FOR) OPERATING ACTIVITIES:Non-cash
      compensation expense (stock options)
                        
                        
                        25,832
                        
                        
                        
                        54,697
                        
                        
                        
                        80,771
                        
                        
                        
                        108,904Amortization
      of intangibles
                        
                        
                        248,192
                        
                        
                        
                        283,654
                        
                        
                        
                        493,575
                        
                        
                        
                        591,978Deferred
      income tax expense (benefit)
                        
                        
                        119,432
                        
                        
                        
                        (201,469
                        )
                        
                        
                        993
                        
                        
                        
                        (261,532
                        )Depreciation
      and leasehold amortization
                        
                        
                        78,616
                        
                        
                        
                        102,282
                        
                        
                        
                        158,491
                        
                        
                        
                        203,739Loss
      (gain) on litigation settlement
                        
                        
                        150,000
                        
                        
                        
                        (354,670
                        )
                        
                        
                        150,000
                        
                        
                        
                        (354,670
                        )Change
      in non-controlling interest
    of   subsidiaries
                        
                        
                        50,929
                        
                        
                        
                        37,638
                        
                        
                        
                        92,832
                        
                        
                        
                        58,678Loss
      on disposal of assets
                        
                        
                        11,931
                        
                        
                        
                        -
                        
                        
                        
                        11,931
                        
                        
                        
                        -Provision
      for (recovery of) doubtful accounts
                        
                        
                        (125,860
                        )
                        
                        
                        38,195
                        
                        
                        
                        (152,143
                        )
                        
                        
                        143,608CHANGE
      IN OPERATING ASSETS AND LIABILITIES:Accounts
      receivable
                        
                        
                        112,949
                        
                        
                        
                        (2,270,906
                        )
                        
                        
                        (2,188,908
                        )
                        
                        
                        (4,436,656
                        )Employee
      receivables
                        
                        
                        4,073
                        
                        
                        
                        31,266
                        
                        
                        
                        3,573
                        
                        
                        
                        33,266Station
      and other receivables
                        
                        
                        21,688
                        
                        
                        
                        12,528
                        
                        
                        
                        99,576
                        
                        
                        
                        185,475Prepaid
      expenses and other assets
                        
                        
                        (679,054
                        )
                        
                        
                        54,913
                        
                        
                        
                        (699,719
                        )
                        
                        
                        (80,091
                        )Accounts
      payable & accrued transportation costs
                        
                        
                        1,072,032
                        
                        
                        
                        1,561,598
                        
                        
                        
                        2,018,439
                        
                        
                        
                        2,383,214Commissions
      payable
                        
                        
                        (715,507
                        )
                        
                        
                        (621,658
                        )
                        
                        
                        (153,997
                        )
                        
                        
                        (179,945
                        )Other
      accrued costs
                        
                        
                        23,461
                        
                        
                        
                        36,781
                        
                        
                        
                        145,942
                        
                        
                        
                        (172,669
                        )Other
      long term liabilities
                        
                        
                        48,059
                        
                        
                        
                        -
                        
                        
                        
                        96,119
                        
                        
                        
                        -Income
      taxes payable
                        
                        
                        (95,680
                        )
                        
                        
                        -
                        
                        
                        
                        136,101
                        
                        
                        
                        -Income
      tax deposit
                        
                        
                        -
                        
                        
                        
                        374,348
                        
                        
                        
                        -
                        
                        
                        
                        503,556Total
      adjustments
                        
                        
                        351,093
                        
                        
                        
                        (860,803
                        )
                        
                        
                        293,576
                        
                        
                        
                        (1,273,145
                        )Net
      cash provided by (used) for
operating  activities
                        
                        $
                        1,067,358
                        
                        
                        $
                        (311,694
                        )
                        
                        $
                        1,792,784
                        
                        
                        $
                        (607,986
                        )
  3