Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (3,286,000) $ (2,214,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 26,000 25,000
Change in fair value of warrant liability (13,000)
Stock-based compensation 164,000 20,000
Stock issuance for services 12,000 3,000
Amortization of deferred financing costs 44,000
Amortization of debt discount 19,000
Changes in operating assets and liabilities:    
Accounts receivable (1,049,000) (37,000)
Inventories 403,000 (311,000)
Other current assets 15,000 17,000
Accounts payable 113,000 124,000
Accrued expenses 24,000 (94,000)
Accrued interest 325,000 9,000
Customer deposits (9,000) (8,000)
Net cash used in operating activities (3,262,000) (2,416,000)
Cash flows from investing activities    
Purchases of equipment (43,000) (24,000)
Net cash used in investing activities (43,000) (24,000)
Cash flows from financing activities:    
Repayment of line of credit (215,000)
Proceeds from the sale of common stock 1,075,000
Borrowings from line of credit - related party debt 3,215,000 1,525,000
Net cash provided by financing activities 3,215,000 2,385,000
Net change in cash (90,000) (55,000)
Cash, beginning of period 121,000 127,000
Cash, end of period 31,000 72,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Conversion of debt to equity 400,000
Fair value of warrants exchanged for common stock 7,000
Stock issuance for services $ 12,000