Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (3,377,000) $ (3,456,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 32,000 20,000
Change in fair value of warrant liability (14,000) (16,000)
Stock-based compensation 30,000 99,000
Stock issuance for services 9,000 14,000
Amortization of prepaid advisory fees 19,000
Amortization of deferred financing costs 44,000 133,000
Amortization of debt discount 19,000 65,000
Changes in operating assets and liabilities:    
Accounts receivable (2,000) 46,000
Inventories (748,000) (10,000)
Other current assets (7,000) (9,000)
Accounts payable 148,000 85,000
Accrued expenses (19,000) 162,000
Customer deposits from related party (12,000)
Net cash used in operating activities (3,897,000) (2,848,000)
Cash flows from investing activities    
Purchases of equipment (45,000)
Net cash used in investing activities (45,000)
Cash flows from financing activities:    
Repayment of line of credit (215,000)
Proceeds from the sale of common stock 1,075,000
Proceeds from line of credit and advance - related party, net 3,025,000 2,875,000
Net cash provided by financing activities 3,885,000 2,875,000
Net change in cash (57,000) 27,000
Cash, beginning of period 127,000 53,000
Cash, end of period 70,000 80,000
Conversion of debt to equity 400,000 2,047,000
Deferred financing cost related to the line of credit - related party 310,000
Fair value of warrants exchanged for common stock $ 10,000