Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (5,325,000) $ (3,286,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 31,000 26,000
Stock-based compensation 407,000 164,000
Stock issuance for services 208,000 12,000
Changes in operating assets and liabilities:    
Accounts receivable (1,089,000) (1,049,000)
Inventories (1,336,000) 403,000
Other current assets 36,000 15,000
Accounts payable 687,000 113,000
Accrued expenses 204,000 24,000
Deferred revenue 40,000 0
Accrued interest 890,000 325,000
Customer deposits (9,000) (9,000)
Net cash used in operating activities (5,256,000) (3,262,000)
Cash flows from investing activities    
Purchases of equipment (101,000) (43,000)
Net cash used in investing activities (101,000) (43,000)
Cash flows from financing activities:    
Proceeds from the sale of common stock 3,695,000 0
Repayment of line of credit - related party debt (2,500,000) 0
Borrowings from line of credit - related party debt 2,500,000 3,215,000
Net cash provided by financing activities 3,695,000 3,215,000
Net change in cash (1,661,000) (90,000)
Cash, beginning of period 2,706,000 121,000
Cash, end of period 1,044,000 31,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Common stock issued for conversion of related party debt 8,475,000 0
Common stock issued for conversion of accrued interest 1,610,000 0
Stock issuance for services $ 208,000 $ 12,000