v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:    
Net loss $ (2,556,048) $ (3,086,266)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense 327,606 289,279
Shares issued for services 42,625   
Inventory reserves 200,000   
Amortization of license acquisition costs 4,206 1,342
Amortization of deferred financing costs 130,659 62,523
Amortization of debt discount 495,559 52,704
Depreciation 234,969 11,652
Derivative liability gain (1,245,925) 346,627
Change in operating assets and liabilities:    
Accounts receivable 90,888 (905,496)
Due from factor, net (80,880)   
Prepaid royalty 370,905 272,808
License acquisition costs    (8,902)
Inventory (300,595) (626,677)
Prepaid expenses and other current assets 11,337 (98,528)
Prepaid inventory (48,845) (570,806)
Accounts payable 1,160,680 996,984
Customer deposits    13,470
Accrued expenses and other current liabilities 261,265 347,134
Due to Gold Grenade, LLC 234,550 (108,475)
Net cash used in operating activities (667,044) (3,010,626)
Cash flows from investing activities:    
Acquisition of property and equipment (183,351) (139,829)
Net cash used in investing activities (183,351) (139,829)
Cash flows from financing activities:    
Issuance of common stock, net of financing fees    771,235
Purchase of treasury stock and warrants      
Proceeds from short term loans    1,335,000
Paydown of short term loans    (1,085,000)
Factoring line of credit, net    536,144
Issuance of convertible debt 550,000 2,000,000
Payments for deferred financing fees in relation to convertible debt issuance (62,065) (316,710)
Net cash provided by financing activities 487,935 3,240,669
Net change in cash and cash equivalents (362,461) 90,214
Cash at beginning of period 388,892 71,532
Cash at end of period 26,431 161,746
Supplemental disclosures of cash flow information:    
Interest 59,161 210,228
Income Taxes      
Non-cash financing activities:    
Conversion of bridge notes and convertible debt    1,925,030
Contribution from shareholder of deferred financing cost    1,156,000
Other non-cash deferred financing fees from issuance of convertible debt    137,238
Fair value of conversion features and warrants issued in connection with equity and debt financing $ 113,091 $ 5,203,574