Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net loss $ (9,000) $ (350,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 10,000 4,000
Amortization of prepaid advisory fees 407,000 0
Change in fair value of warrant liability (1,388,000) 0
Stock-based compensation 45,000 1,000
Changes in operating assets and liabilities:    
Accounts receivable 12,000 (1,000)
Inventories (61,000) 216,000
Inventories, prepaid (6,000) 0
Prepaid expenses and other current assets (2,000) (153,000)
Accounts payable (121,000) 68,000
Accrued expenses (94,000) 114,000
Customer deposits (2,000) 240,000
Customer deposits from related party (20,000) (180,000)
Deferred revenue (2,000) 0
Net cash used in operating activities (1,231,000) (41,000)
Cash flows from investing activities:    
Purchases of equipment (27,000) (30,000)
Net cash used in investing activities (27,000) (30,000)
Cash flows from financing activities:    
Issuance of common shares in financing 2,000 0
Proceeds from the sale of common stock and warrants, net of offering costs paid 901,000 0
Proceeds from issuance of stockholders note payable 0 150,000
Net cash provided by financing activities 903,000 150,000
Net increase (decrease) in cash (355,000) 79,000
Cash, beginning of period 812,000 240,000
Cash, end of period 457,000 319,000
Supplemental disclosures of Non-cash Investing and Financing Activities:    
Issuance of warrants classified as derivative liabilities 856,000 0
Supplemental disclosures of Cash Flow Information :    
Cash paid for income taxes $ 2,000 $ 1,000