XML 79 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net loss $ (12,452,642) $ (13,920,940)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property, plant and equipment 798,424 929,776
Amortization of intangible assets 732,049 745,385
Stock-based compensation 785,260 1,586,798
Equity in loss of investee company 779,768 197,618
Payment of interest with common stock    66,500
Amortization of discounts and debt issuance costs on notes payable 14,566 1,069,950
Non-cash expense attributed to accretion of note payable 45,000   
Changes in assets and liabilities    
Accounts receivable 33,638 (308,941)
Inventories 96,445 (1,326,357)
Prepaids and other current assets (51,660) (130,986)
Refundable income taxes 48,317 (20,905)
Accounts payable (1,328,097) 937,808
Accrued compensation and benefits (170,932) 45,373
Accrued expenses (467,475) 618,026
Customer deposits 878,953 (213,173)
Net cash used in operating activities (10,258,386) (9,724,068)
Cash flows from investing activities    
Expenditures for property and equipment (137,601) (1,647,450)
Investment in investee company    (3,281,507)
Deposits of restricted cash    (60,000)
Net cash used in investing activities (137,601) (4,988,957)
Cash flows from financing activities    
Proceeds from issuance of notes payable 938,250 2,465,000
Repayments of bank loans and notes payable (1,654,593) (3,243,184)
Notes payable issuance costs (29,113) (227,693)
Proceeds from issuance of Series A preferred stock    2,197,240
Proceeds from issuance of common stock 4,648,499 17,138,150
Common stock issuance costs (177,607) (1,810,598)
Proceeds from noncontrolling interest 5,500 3,083,062
Net cash provided by financing activities 3,730,936 19,601,977
Effect of exchange rate changes on cash and cash equivalents (1,545) (36,330)
Net increase (decrease) in cash and cash equivalents (6,666,596) 4,852,622
Cash and cash equivalents - beginning of period 7,763,217 2,910,595
Cash and cash equivalents - end of period 1,096,621 7,763,217
Cash paid for interest 173,876 278,610
Cash received for income tax credit 198,309 223,703
Supplemental non-cash investing and financing activities:    
Conversion of debenture notes payable to common stock    1,184,250
Inventory transferred to assets held for lease 355,986   
Interest deferred and added to principal balance of note payable 44,084   
Issuance of common stock for discounted notes receivable    2,187,330
Issuance of warrants as consideration for equity issuance costs    1,024,726
Redemption of preferred stock with notes receivable - common stock    $ 6,436,089