Going Concern	9 Months Ended
Mar. 31, 2015
Going Concern
Going Concern	2. Going Concern These consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern. These principles assume that the Company will be able to realize its assets and discharge its obligations in the normal course of operations for the foreseeable future. The Company incurred a net loss of $38.1 million during the nine months ended March 31, 2015. At March 31, 2015, the outstanding principal amount of the Company’s debt was $32.5 million, net of an aggregate discount of $1.3 million, and the Company had a working capital deficit of $16.0 million. Of the outstanding debt, $27.5 million is outstanding under the Company’s Credit Facility (as defined below). Of the $16.0 million working capital deficit at March 31, 2015, $27.5 million relates to outstanding borrowings under the Company’s Credit Facility, which is classified as a short-term liability on its Consolidated Balance Sheets as of March 31, 2015. The Company is currently in default under the Credit Facility, and the lender has the right to accelerate all amounts outstanding under the Credit Facility upon notice to the borrowers. The Company is in discussions with the lender regarding either a waiver of the non-compliance or an amendment to the credit agreement to cure the non-compliance. While the Company anticipates obtaining a waiver from the lender, it cannot provide any assurance that these negotiations will be successful. The Company is exploring available financing options, including the sale of debt or equity. If the Company is unable to finance its operations on acceptable terms or at all, its business, financial condition and results of operations may be materially and adversely affected. As a result of recurring losses from operations and a working capital deficiency, there is substantial doubt regarding the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amount and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Going Concern

9 Months Ended

Mar. 31, 2015

2. Going Concern

These consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern. These principles assume that the Company will be able to realize its assets and discharge its obligations in the normal course of operations for the foreseeable future.

The Company incurred a net loss of $38.1 million during the nine months ended March 31, 2015. At March 31, 2015, the outstanding principal amount of the Company’s debt was $32.5 million, net of an aggregate discount of $1.3 million, and the Company had a working capital deficit of $16.0 million. Of the outstanding debt, $27.5 million is outstanding under the Company’s Credit Facility (as defined below). Of the $16.0 million working capital deficit at March 31, 2015, $27.5 million relates to outstanding borrowings under the Company’s Credit Facility, which is classified as a short-term liability on its Consolidated Balance Sheets as of March 31, 2015. The Company is currently in default under the Credit Facility, and the lender has the right to accelerate all amounts outstanding under the Credit Facility upon notice to the borrowers. The Company is in discussions with the lender regarding either a waiver of the non-compliance or an amendment to the credit agreement to cure the non-compliance. While the Company anticipates obtaining a waiver from the lender, it cannot provide any assurance that these negotiations will be successful. The Company is exploring available financing options, including the sale of debt or equity. If the Company is unable to finance its operations on acceptable terms or at all, its business, financial condition and results of operations may be materially and adversely affected. As a result of recurring losses from operations and a working capital deficiency, there is substantial doubt regarding the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amount and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.