MANAGEMENT'S PLANS AND FUTURE OPERATIONS

6 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

MANAGEMENT'S PLANS AND FUTURE OPERATIONS

NOTE 5 – MANAGEMENT’S PLANS AND FUTURE OPERATIONS

The accompanying condensed consolidated financial statements have been prepared on the basis of a going concern which contemplates that the Company will be able to realize assets and discharge its liabilities in the normal course of business. Accordingly, they do not give effect to any adjustments that would be necessary should the Company be required to liquidate its assets. The Company incurred a net loss of $8,919,427 attributable to EnSync, Inc. for the six months ended December 31, 2016, and as of December 31, 2016 had an accumulated deficit of $129,469,535 and total EnSync, Inc. equity of $8,839,016. The ability of the Company to settle its total liabilities of $16,979,061 and to continue as a going concern is dependent upon increasing revenues and achieving profitability. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.

We believe that cash and cash equivalents on hand at December 31, 2016 and other potential sources of cash, will be sufficient to fund our current operations through the first quarter of fiscal year 2018. However, there can be no assurances that unforeseen circumstances will not require the Company to raise additional investment capital to fund its operations. If the Company is unable to obtain additional required funding, the Company’s financial condition and results of operations may be materially adversely affected and the Company may not be able to continue operations.