Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (3,456,000) $ (1,447,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20,000 26,000
Amortization of prepaid advisory fees 19,000 35,000
Change in fair value of warrant liability (16,000) (498,000)
Stock-based compensation 99,000 174,000
Stock issuance for services 14,000 21,000
Gain on sale of property and equipment 0 (4,000)
Amortization of deferred financing costs 133,000 0
Amortization of debt discount 65,000 38,000
Changes in operating assets and liabilities:    
Accounts receivable 46,000 (11,000)
Inventories (10,000) (81,000)
Other current assets (9,000) (73,000)
Accounts payable 85,000 79,000
Accrued expenses 162,000 58,000
Net cash used in operating activities (2,848,000) (1,683,000)
Cash flows from investing activities:    
Purchases of equipment 0 (14,000)
Proceeds from the sale of equipment 0 9,000
Net cash used in investing activities 0 (5,000)
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 2,875,000 1,140,000
Net cash provided by financing activities 2,875,000 1,641,000
Net change in cash 27,000 (47,000)
Cash, beginning of period 53,000 116,000
Cash, end of period 80,000 69,000
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 5,000
Debt discount related to warrants and beneficial conversion feature $ 0 $ 165,000