v2.4.0.8
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
 2 Months Ended 12 Months Ended
Jun. 30, 2012
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (794,172) $ (5,309,565)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense    407,491
Stock issued for services    506,302
Inventory write-offs    365,772
Amortization of license acquisition costs 380 2,662
Amortization of deferred financing costs 41,463 1,513,200
Amortization of debt discount    1,201,959
Depreciation    197,935
Loss from conversion of debt    2,098,819
Derivative liability gain    (5,411,959)
Change in operating assets and liabilities:    
Accounts receivable    (100,087)
Due from factor, net    (164,090)
Prepaid royalty (908,772) 529,812
License acquisition costs (12,162) (15,384)
Inventory    (2,314,680)
Deposit (2,220) (3,900)
Prepaid expenses and other current assets    16,332
Prepaid inventory (349,679) 91,149
Accounts payable 145,839 2,336,013
Accrued expenses and other current liabilities 108,863 774,406
Due to Gold Grenade, LLC 108,475 (108,475)
Net cash used in operating activities (1,661,985) (3,386,288)
Cash flows from investing activities:    
Acquisition of property and equipment    (866,968)
Net cash used in investing activities    (866,968)
Cash flows from financing activities:    
Issuance of common stock, net of financing fees 100 783,480
Purchase of treasury stock and warrants    (250,000)
Proceeds from short term loans 1,733,417 1,335,000
Paydown of short term loans    (1,335,000)
Proceeds from convertible debt, net of deferred financing fees    4,037,136
Net cash provided by financing activities 1,733,517 4,570,616
Net change in cash 71,532 317,360
Cash at beginning of period    71,532
Cash at end of period 71,532 388,892
Supplemental disclosures of cash flow information:    
Interest    225,078
Income Taxes      
Non-cash financing activities:    
Conversion of bridge notes    5,305,030
Contribution from shareholders for deferred financing cost    1,537,940
Other non-cash deferred financing fees from issuance of convertible debt    264,520
Fair value of warrants issued in connection with equity and debt financing    $ 7,252,282