3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Segment Reporting

The following table contains certain financial information by geographic area:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
Net sales:	2015		2014		2015		2014
United States	$	6,999,431	$	5,007,627	$	26,725,077	$	10,089,868
Caribbean and South America		–		15,240		1,415,052		1,854,320
Europe, the Middle East and Africa (“EMEA”)		3,154,126		1,295,931		4,517,524		2,056,068
Asia		21,285		3,736,515		3,627,953		5,016,005
Totals	$	10,174,842	$	10,055,313	$	36,285,606	$	19,016,261

Long-lived assets, net (property and equipment and intangible assets):	March 31, 2015		June 30, 2014
United States	$	1,024,546	$	1,786,910
Asia		612,397		837,371
Totals	$	1,636,943	$	2,624,281

Schedule of estimated useful life, property and equipment

Machinery	6 years
Office equipment	5 years
Molds	3 years
Vehicles	5 years
Computers and software	5 years
Furniture and fixtures	7 years
Facilities	5 years

Intangible Assets

The definite lived intangible assets consisted of the following as of March 31, 2015:

Definite lived intangible assets:	Expected Life	Average Remaining life		Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
Complete technology	3 years		–	$	490,000	$	490,000	$	–
Complete technology	3 years		–		1,517,683		1,517,683		–
Complete technology	3 years		–		281,714		281,714		–
Complete technology	3 years		–		361,249		361,249		–
Complete technology	3 years		0.5		174,009		145,007		29,002
Complete technology	3 years		0.7		909,962		657,195		252,767
Complete technology	3 years		2.0		65,000		21,666		43,334
Complete technology	3 years		2.8		2,443		204		2,239
Supply and development agreement	8 years		2.6		1,121,000		770,688		350,312
Technology in progress	Not Applicable		–		–		–		–
Software	5 years		1.4		196,795		147,412		49,383
Patents	10 years		7.1		53,694		945		52,749
Certifications and licenses	3 years		1.8		1,783,561		1,278,898		504,663
Total as of March 31, 2015				$	6,957,110	$	5,672,661	$	1,284,449

The definite lived intangible assets consisted of the following as of June 30, 2014:

Definite lived intangible assets:	Expected Life	Average Remaining life		Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
Complete technology	3 years		–	$	490,000	$	490,000	$	–
Complete technology	3 years		–		1,517,683		1,517,683		–
Complete technology	3 years		0.5 years		281,714		245,169		36,545
Complete technology	3 years		1.0 years		361,249		270,949		90,300
Complete technology	3 years		1.3 years		174,009		101,505		72,504
Complete technology	3 years		1.5 years		909,962		429,704		480,258
Complete technology	3 years		2.8 years		65,000		5,417		59,583
Supply and development agreement	8 years		3.3 years		1,121,000		665,594		455,406
Technology in progress	Not Applicable		–		39,545		–		39,545
Software	5 years		2.1 years		196,795		115,173		81,622
Patents	10 years		7.8 years		52,543		761		51,782
Certifications and licenses	3 years		1. years		1,618,401		860,130		758,271
Total as of June 30, 2014				$	6,827,901	$	4,702,085	$	2,125,816