Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Jun. 30, 2015
Current assets:    
Cash $ 80,000 $ 53,000
Accounts receivable 23,000 69,000
Inventories 191,000 181,000
Deferred financing costs 177,000 0
Other current assets 46,000 56,000
Total current assets 517,000 359,000
Other assets 25,000 25,000
Property, plant and equipment, net 46,000 66,000
Total assets 588,000 450,000
Current liabilities:    
Accounts payable 678,000 593,000
Accrued expenses 297,000 182,000
Customer deposits from related party 136,000 136,000
Warrant derivative liability 7,000 23,000
Line of credit - related party 2,475,000 1,600,000
Line of credit, net of discount 175,000 110,000
Total current liabilities 3,768,000 2,644,000
Total liabilities $ 3,768,000 $ 2,644,000
Commitments and contingencies (Note 11)
Stockholders' deficit:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding $ 0 $ 0
Common stock, $0.001 par value; 300,000,000 shares authorized; 150,935,137 and 99,464,000 shares issued and outstanding at March 31, 2016 and June 30, 2015, respectively 151,000 99,000
Additional paid-in capital 10,816,000 8,398,000
Accumulated deficit (14,147,000) (10,691,000)
Total stockholders’ deficit (3,180,000) (2,194,000)
Total liabilities and stockholders’ deficit $ 588,000 $ 450,000