XML 39 R7.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (614,871) $ (351,390)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities -    
Depreciation and amortization 38,554 27,216
Provision for doubtful accounts receivable 8,083 227,500
Stock-based compensation expense 473,326 52,341
Non-cash consulting expense 0 2,400
Changes in operating assets and liabilities, net of effects of business acquisition    
Accounts receivable (723,369) (555,875)
Inventories 137,510 (88,621)
Prepaid expenses (106,456) (15,006)
Accounts payable 69,365 48,580
Customer advances (432,000) 677,705
Accrued compensation and other 118,165 75,807
Net cash provided by (used in) operating activities (1,031,693) 100,657
Cash Flows from Investing Activities:    
Cash acquired in business acquisition, net of $56,659 paid at year end 106,545 0
Additional patent costs (6,812) (17,189)
Purchases of fixed assets (140,038) (4,448)
Net cash used in investing activities (40,305) (21,637)
Cash Flows from Financing Activities:    
Payment of capital lease obligation (8,964) (8,392)
Gross proceeds from private placements of common stock 2,925,000 210,001
Gross proceeds from exercise of stock options and warrants 53,900 6,667
Private placement expenses paid (12,250) (2,963)
Net cash provided by financing activities 2,957,686 205,313
Net increase in cash and cash equivalents 1,885,688 284,333
Cash and cash equivalents, beginning of year 402,738 118,405
Cash and cash equivalents, end of year 2,288,426 402,738
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the year for income taxes 912 912
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Issuance of common stock for services 210,000 51,000
Private placement expenses incurred but not yet paid 12,250 0
Issuance of common stock in settlement of accounts payable $ 0 $ 40,000