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 ($)
 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (2,224,000) $ (815,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 14,000 18,000
Amortization of prepaid advisory fees 12,000 33,000
Change in fair value of warrant liability 0 (438,000)
Stock-based compensation 78,000 113,000
Stock issuance for services 11,000 11,000
Gain on sale of property and equipment 0 (4,000)
Amortization of debt discount 43,000 18,000
Changes in operating assets and liabilities:    
Accounts receivable (6,000) (17,000)
Inventories (149,000) (45,000)
Other current assets 15,000 (61,000)
Accounts payable 141,000 198,000
Accrued expenses 100,000 23,000
Net cash used in operating activities (1,965,000) (966,000)
Cash flows from investing activities    
Purchases of equipment 0 (6,000)
Proceeds from the sale of equipment 0 9,000
Net cash provided by investing activities 0 3,000
Cash flows from financing activities:    
Proceeds from the sale of common stock and warrants, net of offering costs paid 0 501,000
Proceeds from line of credit - related party and line of credit 1,975,000 365,000
Net cash provided by financing activities 1,975,000 866,000
Net increase (decrease) in cash 10,000 (97,000)
Cash, beginning of period 53,000 116,000
Cash, end of period 63,000 19,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Conversion of debt to equity 2,047,000 0
Deferred financing cost related to the line of credit - related party $ 310,000 $ 0
Issuance of warrants recorded as deferred financing costs 0 4,000
Debt discount related to warrants and beneficial conversion feature $ 0 $ 152,000