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

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Jun. 30, 2018
Jun. 30, 2017
Current assets:      
Cash $ 900,000 $ 2,706,000 $ 121,000
Accounts receivable 997,000 946,000 80,000
Inventories, net 3,618,000 1,512,000 1,566,000
Other current assets 141,000 92,000 69,000
Total current assets 5,656,000 5,256,000 1,836,000
Other assets 26,000 26,000 26,000
Property, plant and equipment, net 242,000 87,000 59,000
Total assets 5,924,000 5,369,000 1,921,000
Current liabilities:      
Accounts payable 1,614,000 417,000 367,000
Accrued expenses 712,000 474,000 259,000
Line of credit - related party 3,405,000 10,380,000 5,185,000
Convertible promissory note - related party 0 500,000 500,000
Capital lease payable 29,000 0 0
Accrued interest 384,000 931,000 239,000
Total current liabilities 6,144,000 12,702,000 6,550,000
Long term liabilities:      
Capital lease payable 36,000 0 0
Customer deposits from related party 89,000 102,000 120,000
Total liabilities 6,269,000 12,804,000 6,670,000
Commitments and contingencies (Note 14)
Stockholders’ deficit:      
Preferred stock 0 0 0
Common stock 51,000 31,000 25,000
Additional paid-in capital 35,405,000 19,196,000 14,923,000
Accumulated deficit (35,801,000) (26,662,000) (19,697,000)
Total stockholders’ deficit (345,000) (7,435,000) (4,749,000)
Total liabilities and stockholders’ deficit $ 5,924,000 $ 5,369,000 $ 1,921,000