Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (231,000) $ (1,139,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 32,000 23,000
Amortization of prepaid advisory fees 1,274,000 0
Change in fair value of warrant liability (3,826,000) 0
Stock-based compensation 67,000 22,000
Changes in operating assets and liabilities:    
Accounts receivable 43,000 2,000
Inventories 501,000 313,000
Inventories, prepaid (20,000) (932,000)
Prepaid expenses and other current assets (15,000) 15,000
Accounts payable (67,000) 293,000
Accrued expenses (84,000) 165,000
Customer deposits 4,000 841,000
Customer deposits from related party (62,000) 629,000
Deferred revenue (480,000) (1,173,000)
Net cash used in operating activities (2,864,000) (941,000)
Cash flows from investing activities:    
Purchases of equipment (41,000) (58,000)
Net cash used in investing activities (41,000) (58,000)
Cash flows from financing activities:    
Proceeds from options exercised 22,000 0
Proceeds from the sale of common stock and warrants, net of offering costs paid 981,000 0
Proceeds from stockholder notes payable and line of credit 1,135,000 900,000
Net cash provided by financing activities 2,138,000 900,000
Net decrease in cash (767,000) (99,000)
Cash, beginning of period 812,000 240,000
Cash, end of period 45,000 141,000
Supplemental disclosures of Cash Flow Information:    
Cash paid for income taxes 2,000 1,000
Non-cash Investing and Financing Activities:    
Issuance of warrants classified as derivative liabilities 931,000 0
Issuance of common stock for stockholder notes payable 0 1,264,000
Issuance of common stock for prepaid advisory services $ 90,000 $ 0