Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
 6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:    
Net income (loss) $ 867,000 $ (643,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 21,000 13,000
Amortization of prepaid advisory fees 830,000 0
Change in fair value of warrant liability (3,572,000) 0
Stock-based compensation 38,000 29,000
Changes in operating assets and liabilities:    
Accounts receivable 40,000 (129,000)
Inventories 390,000 934,000
Inventories, prepaid (10,000) (790,000)
Prepaid advisory fees (184,000) 0
Prepaid expenses and other current assets 0 2,000
Accounts payable (106,000) 113,000
Accrued expenses 16,000 138,000
Customer deposits 12,000 900,000
Customer deposits from related party (31,000) 687,000
Deferred revenue (480,000) (1,105,000)
Net cash (used in) provided by operating activities (2,169,000) 149,000
Cash flows from investing activities:    
Purchases of equipment (37,000) (49,000)
Net cash (used in) investing activities (37,000) (49,000)
Cash flows from financing activities:    
Proceeds from options exercised 4,000 0
Proceeds from the sale of common stock and warrants, net of offering costs paid 981,000 0
Proceeds from issuance of stockholder notes payable 450,000 150,000
Net cash provided by financing activities 1,435,000 150,000
Net (decrease) increase in cash (771,000) 250,000
Cash, beginning of period 812,000 240,000
Cash, end of period 41,000 490,000
Supplemental disclosures of Cash Flow Information:    
Cash paid for income taxes 2,000 1,000
Non-cash Investing and Financing Activities:    
Issuance of warrants classified as derivative liabilities 931,000 0
Issuance of common stock for stockholder notes payable $ 0 $ 1,264,000