XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities:    
Net loss $ (768,856) $ (885,297)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 24,909 18,352
Gain on sale of assets (1,515) (26,948)
Stock-based compensation expense 154,743 194,133
Non-cash consulting expense 13,500 55,050
Non-cash gain on settlement of liabilities by issuing common stock 0 (22,050)
Changes in operating assets and liabilities    
Accounts receivable, net 216,458 (19,934)
Inventories 10,229 19,954
Prepaid expenses (14,225) (35,012)
Accounts payable (229,445) 113,272
Customer advances 69,421 (95,790)
Accrued liabilities (107,143) (65,943)
Net cash used in operating activities (631,924) (750,213)
Cash Flows from Investing Activities:    
Additional patent costs (5,848) (4,230)
Purchases of property and equipment (27,719) (4,554)
Proceeds from sale of assets 1,515 26,948
Net cash provided by (used in) investing activities (32,052) 18,164
Cash Flows from Financing Activities:    
Payment of capital lease obligation (5,844) (2,094)
Gross proceeds from private placement of common stock 780,000 700,000
Private placement expenses paid as of March 31 (1,650) (34,639)
Net cash provided by financing activities 772,506 663,267
Net increase (decrease) in cash and cash equivalents 108,530 (68,782)
Cash and cash equivalents, beginning of period 50,059 241,051
Cash and cash equivalents, end of period 158,589 172,269
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes 912 912
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of common stock to consultants 0 48,300
Acquisition of manufacturing equipment under capital lease 0 43,790
Offering costs included in accounts payable $ 22,296 $ 0