Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (1,008,000) $ (197,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 8,000 10,000
Amortization of prepaid advisory fees 4,000 0
Change in fair value of warrant liability 0 (4,380,000)
Stock-based compensation 30,000 51,000
Stock issuance for services 3,000 0
Amortization of debt discount 22,000 0
Changes in operating assets and liabilities:    
Accounts receivable (21,000) 103,000
Inventories 2,000 (17,000)
Other current assets (50,000) (20,000)
Accounts payable 32,000 123,000
Accrued expenses 22,000 79,000
Net cash used in operating activities (956,000) (306,000)
Cash flows from investing activities:    
Purchases of equipment 0 (6,000)
Net cash used in investing activities 0 (6,000)
Cash flows from financing activities:    
Proceeds from the sale of common stock and warrants, net of offering costs paid 0 129,000
Proceeds from note payable - related party and line of credit 975,000 125,000
Net cash provided by financing activities 975,000 254,000
Net increase (decrease) in cash 19,000 (58,000)
Cash, beginning of period 53,000 116,000
Cash, end of period 72,000 58,000
Supplemental Disclosures of Non-cash Investing and Financing Activities::    
Conversion of debt to equity $ 2,047,000 $ 0
Issuance of warrants recorded as deferred financing costs 0 3,000
Debt discount related to warrants and beneficial conversion feature $ 0 $ 80,000