Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2014
Jun. 30, 2013
Current assets:    
Cash $ 673,000 $ 20,000
Accounts receivable, net 57,000 13,000
Inventories, net 199,000 160,000
Prepaid advisory fees, current portion 395,000 1,616,000
Other current assets 43,000 35,000
Total current assets 1,367,000 1,844,000
Property, plant and equipment, net 87,000 132,000
Total assets 1,454,000 1,976,000
Current liabilities:    
Accounts payable 265,000 370,000
Accrued expenses 214,000 211,000
Accrued interest 277,000 135,000
Customer deposits 22,000 5,000
Customer deposits - related party 136,000 138,000
Warrant derivative liability 808,000 143,000
Stockholder notes payable and line of credit, current portion 0 1,250,000
Total current liabilities 1,722,000 2,252,000
Long term liabilities:    
Stockholder notes payable and line of credit, net of current portion 2,586,000 1,218,000
Total liabilities 4,308,000 3,470,000
Commitments and contingencies (Note 5)      
STOCKHOLDERS' DEFICIT    
Preferred stock, $0.001 par value: authorized 5,000,000 shares, none issued and outstanding 0 0
Common stock, $0.001 par value: authorized 145,000,000 shares, 80,825,577 and 47,255,576 shares issued and outstanding as of March 31, 2014 and June 30, 2013, respectively 81,000 47,000
Additional paid-in capital 4,449,000 2,436,000
Accumulated deficit (7,384,000) (3,977,000)
Total stockholders 'deficit (2,854,000) (1,494,000)
Total liabilities and stockholders' deficit $ 1,454,000 $ 1,976,000