v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2013
Jun. 30, 2012
Current assets:    
Cash $ 37,398 $ 71,532
Accounts receivable 101,553   
Due from factor 526,273  
Inventory 1,837,553   
Prepaid inventory 415,365 349,679
Prepaid expenses 91,667   
Current portion of prepaid royalty 528,069 640,351
Deferred financing costs, net 1,594,154 150,150
Deposit 3,720 2,220
Total current assets 5,135,752 1,213,932
Prepaid royalty    268,421
Property and equipment, net 787,287   
License acquisition costs 18,686 11,782
Total assets 5,941,725 1,494,135
Current liabilities:    
Short-term loans    1,925,030
Accounts payable 2,290,829 145,839
Accrued expenses and other current liabilities 520,041 108,863
Convertible debt, net of debt discount 2,052,825   
Due to Gold Grenade, LLC    108,475
Total current liabilities 4,863,695 2,288,207
Long-Term Liabilities    
Derivative liability 2,367,258   
Total Long-Term Liabilities 2,367,258   
Total Liabilities 7,230,953 2,288,207
Commitments and Contingencies      
Shareholders' deficit:    
Preferred stock, $.001 par value, 10,000,000 shares authorized, zero issued and outstanding      
Common stock, $.001 par value, 300,000,000 shares authorized, 89,947,174 and 85,200,116 shares issued as of March 31, 2013 and June 30, 2012 respectively 89,947 85,200
Treasury stock, at cost - 499,980 and 0 shares as of March 31, 2013 and June 30, 2012 respectively (103,284)   
Additional paid in capital 2,376,796   
Accumulated deficit (3,652,687) (879,272)
Total shareholders' deficit (1,289,228) (794,072)
Total liabilities and shareholders' deficit $ 5,941,725 $ 1,494,135