Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Dec. 31, 2017
Jun. 30, 2017
Current assets:    
Cash $ 31,000 $ 121,000
Accounts receivable 1,129,000 80,000
Inventories 1,163,000 1,566,000
Other current assets 36,000 69,000
Total current assets 2,359,000 1,836,000
Other assets 44,000 26,000
Property, plant and equipment, net 76,000 59,000
Total assets 2,479,000 1,921,000
Current liabilities:    
Accounts payable 480,000 367,000
Accrued expenses 283,000 259,000
Accrued interest 564,000 239,000
Convertible promissory note - related party 500,000
Total current liabilities 1,827,000 865,000
Long term liabilities:    
Line of credit - related party 8,400,000 5,185,000
Convertible promissory note - related party 500,000
Customer deposits from related party 111,000 120,000
Total liabilities 10,338,000 6,670,000
Commitments and contingencies (Note 8)
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; 25,108,868 and 25,085,526 shares issued and outstanding at December 31, 2017 and June 30, 2017, respectively 25,000 25,000
Additional paid-in capital 15,099,000 14,923,000
Accumulated deficit (22,983,000) (19,697,000)
Total stockholders’ deficit (7,859,000) (4,749,000)
Total liabilities and stockholders’ deficit $ 2,479,000 $ 1,921,000