General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:        
Net loss $ (11,086,000) $ (9,139,000) $ (12,414,000) $ (6,965,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 94,000 54,000 81,000 57,000
Stock-based compensation 1,356,000 1,492,000 1,944,000 255,000
Stock issuance for services 30,000 259,000 261,000 49,000
Noncash interest expense 675,000    
Noncash lease expense 219,000    
Interest expense on conversion     699,000
Changes in operating assets and liabilities:        
Accounts receivable (294,000) (51,000) (1,470,000) (866,000)
Inventories (1,327,000) (2,106,000) (2,301,000) 54,000
Other current assets (397,000) (49,000) (411,000) (23,000)
Accounts payable 1,658,000 1,197,000 2,065,000 51,000
Accrued expenses 348,000 321,000 385,000 131,000
Due to factor 399,000    
Deferred revenue 11,000    
Accrued interest 434,000 980,000 551,000 775,000
Office lease payable (75,000)    
Customer deposits 2,211,000 (13,000) (102,000) (18,000)
Net cash used in operating activities (5,744,000) (7,055,000) (10,712,000) (6,500,000)
Cash flows from investing activities        
Purchases of equipment (145,000) (144,000) (275,000) (85,000)
Net cash used in investing activities (145,000) (144,000) (275,000) (85,000)
Cash flows from financing activities:        
Repayment of line of credit     (2,500,000)
Proceeds from the sale of common stock, net of offering costs 4,000 4,393,000 4,390,000 3,975,000
Proceeds from common stock subscription 105,000    
Repayment of line of credit - related party debt (2,500,000)    
Borrowings from short-term loan - related party debt 1,750,000    
Borrowings from line of credit - related party debt 4,055,000 3,500,000 6,500,000 5,195,000
Principal payments of financing lease payable (21,000)    
Payment on lease payable     (7,000)
Net cash provided by financing activities 5,893,000 5,393,000 8,383,000 9,170,000
Net change in cash 4,000 (1,806,000) (2,604,000) 2,585,000
Cash, beginning of period 102,000 2,706,000 2,706,000 121,000
Cash, end of period 106,000 900,000 102,000 2,706,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:        
Initial recognition of right-of-use asset 2,706,000    
Accrued interest converted into principal 1,246,000    
Interest paid 113,000    
Common stock issued for conversion of related party debt 8,475,000    
Common stock issued for conversion of accrued interest 1,610,000    
Stock issuance for services 30,000 259,000    
Conversion of related party debt to equity     8,475,000
Common stock issued for interest     1,610,000
Equipment purchase through capital lease $ 65,000 $ 65,000