Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (9,139,000) $ (5,039,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 54,000 41,000
Stock-based compensation 1,492,000 209,000
Stock issuance for services 259,000 35,000
Changes in operating assets and liabilities:    
Accounts receivable (51,000) (892,000)
Inventories (2,106,000) 135,000
Other current assets (49,000) 47,000
Accounts payable 1,197,000 261,000
Accrued expenses 321,000 3,000
Accrued interest 980,000 535,000
Customer deposits (13,000) (14,000)
Net cash used in operating activities (7,055,000) (4,679,000)
Cash flows from investing activities    
Purchases of equipment (144,000) (59,000)
Net cash used in investing activities (144,000) (59,000)
Cash flows from financing activities:    
Proceeds from the sale of common stock 4,393,000 200,000
Repayment of line of credit - related party debt (2,500,000) 0
Proceeds from line of credit - related party 3,500,000 4,545,000
Net cash provided by financing activities 5,393,000 4,745,000
Net change in cash (1,806,000) 7,000
Cash, beginning of period 2,706,000 121,000
Cash, end of period 900,000 128,000
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 259,000 35,000
Equipment purchase through capital lease $ 65,000 $ 0