XML 35 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended 197 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2012
Operating Activities        
Net loss $ (3,400,434) $ (2,841,285) $ (2,929,737) $ (39,339,749)
Adjustments to reconcile net loss to net cash used in operating activities        
Write-down of investment 0 0 0 1,250,000
Other income 0 0 0 (658,305)
Proprietary, non-competition agreement 0 0 0 711,000
Consulting services and financing fees 34,954 481,803 81,000 2,135,540
Depreciation and amortization 0 0 0 349,941
Stock-based compensation 376,698 474,075 1,225,151 7,909,282
Interest on derivative financial liability 55,174 0 0 55,174
Fair value loss on derivative financial liability 89,326 0 0 89,326
Interest on beneficial conversion feature 0 0 0 566,456
Settlement of lawsuit 0 0 0 60,250
Write-down of license and operating assets 0 0 0 1,853,542
Bad debt 0 0 0 77,712
Changes in non-cash working capital        
Due from affiliated company 0 0 0 (116,000)
Accounts receivable 0 0 0 (109,213)
Inventory 0 0 0 (46,842)
Prepaid expenses (19,723) 7,544 3,809 (19,722)
Deferred revenue and other 0 0 0 (2,609)
Accounts payable and accruals 1,364,798 105,858 29,894 2,419,914
Net Cash Used in Operating Activities (1,499,207) (1,772,005) (1,589,883) (22,814,303)
Investing Activities        
Purchase of property, equipment and intangible assets 0 0 0 (200,935)
Assets acquired and liabilities assumed on purchase of subsidiary 0 0 0 (129,474)
Investment in and advances to affiliated companies 0 0 0 (2,000,000)
License agreements 0 0 0 (124,835)
Net Cash Used in Investing Activities 0 0 0 (2,455,244)
Financing Activities        
Redemption of preferred stock 0 0 0 (50,000)
Repayment of loan 0 0 0 (11,000)
Advances from stockholders 0 0 0 1,078,284
Repayments to stockholders 0 0 0 (91,283)
Subscriptions received 191,600 0 11,250 706,015
Proceeds from issuance of common stock 1,163,590 1,520,870 1,542,888 23,323,018
Proceeds from convertible debentures 270,500 0 0 870,500
Share issue costs (15,675) (37,735) (149,251) (430,081)
Net Cash Provided by Financing Activities 1,610,015 1,483,135 1,404,887 25,395,453
Effect of Foreign Currency Translation on Cash 0 0 0 46,267
Inflow (Outflow) of Cash 110,808 (288,870) (184,996) 172,173
Cash, Beginning of Period 61,365 350,235 535,231 0
Cash, End of Period $ 172,173 $ 61,365 $ 350,235 $ 172,173