v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Jun. 30, 2013
Current assets:    
Cash and cash equivalents $ 229,430 $ 388,892
Accounts receivable 32,435 100,087
Due from factor, net 496,036 164,090
Inventory, net 2,549,855 1,948,908
Prepaid inventory 208,665 258,531
Prepaid expenses and other current assets 71,788 89,786
Prepaid royalty 159,223 378,960
Current portion of deferred financing costs, net 105,137 29,899
Total current assets 3,852,569 3,359,153
Property and equipment, net 710,100 669,033
Deferred financing costs, net 254,135 328,893
License acquisition costs 23,833 24,504
Total assets 4,840,637 4,381,583
Current liabilities:    
Accounts payable 3,158,637 2,481,852
Accrued expenses and other current liabilities 1,093,035 806,553
Current portion of convertible debt, net of debt discount ($404,812 and $116,524, as of September 30, 2013 and June 30, 2013, respectively) 206,522 23,476
Due to Gold Grenade, LLC (related party) 162,082   
Total current liabilities 4,620,276 3,311,881
Long-Term Liabilities    
Convertible debt, net of debt discount ($936,184 and $1,281,760, as of September 30, 2013 and June 30, 2013, respectively) 748,483 258,240
Derivative liability 902,940 1,660,440
Total Long-Term Liabilities 1,651,423 1,918,680
Total Liabilities 6,271,699 5,230,561
Commitments and Contingencies (Note 7)      
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,155,491,438 and 155,301,468 shares issued and outstanding as of September 30, 2013 and June 30, 2013 respectively 155,491 155,301
Treasury stock, at cost - 999,680 and 999,680 shares as of September 30, 2013 and June 30, 2013, respectively (228,284) (228,284)
Additional paid in capital 7,050,455 6,841,822
Accumulated deficit (8,408,724) (7,617,817)
Total shareholders' deficit (1,431,062) (848,978)
Total liabilities and shareholders' deficit $ 4,840,637 $ 4,381,583