v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2012
Jun. 30, 2012
Current assets:    
Cash $ 161,746 $ 71,532
Accounts receivable 905,496 0
Inventory 626,677 0
Prepaid inventory 920,486 349,679
Prepaid expenses 98,528 0
Current portion of prepaid royalty 585,964 640,351
Deferred financing costs, net 1,543,425 150,150
Deposit 2,220 2,220
Total current assets 4,844,542 1,213,932
Prepaid royalty 50,000 268,421
Property and equipment, net 128,177 0
License acquisition costs 19,341 11,782
Total assets 5,042,060 1,494,135
Current liabilities:    
Due to factor 536,144 0
Short-term loans 250,000 1,925,030
Deferred revenue 13,470 0
Accounts payable 1,142,823 145,839
Accrued expenses and other current liabilities 433,306 108,863
Convertible debt, net of debt discount 698,984 0
Due to Gold Grenade, LLC 0 108,475
Total current liabilities 3,074,727 2,288,207
Long-Term Liabilities    
Derivative liability 5,687,438 0
Total Long-Term Liabilities 5,687,438 0
Total Liabilities 8,762,165 2,288,207
Commitments and Contingencies      
Shareholders' deficit:    
Preferred stock, $.001 par value, 10,000,000 shares authorized, zero issued and outstanding 0 0
Common stock, $.001 par value, 300,000,000 shares authorized, 88,444,036 and 85,200,116 issued and outstanding as of December 31, 2012 and June 30, 2012 respectively 88,444 85,200
Additional paid in capital 1,585,969 0
Accumulated deficit (5,394,518) (879,272)
Total shareholders' deficit (3,720,105) (794,072)
Total liabilities and shareholders' deficit $ 5,042,060 $ 1,494,135