v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (7,310,460) $ (1,344,436)
Adjustments to reconcile net loss tonet cash used in operating activities:    
Stock compensation expense 472,397 452,087
Shares issued for services 46,387 253,455
Inventory reserves 129,228   
Amortization of license acquisition costs 6,128 1,998
Amortization of deferred financing costs 198,836 656,623
Amortization of debt discount 753,437 551,502
Depreciation 361,811 89,262
Loss from debt extinguishment 2,760,640   
Derivative liability (gain) / loss (1,708,651) (3,299,793)
Change in operating assets and liabilities:    
Accounts receivable 63,626 (101,553)
Due from factor, net (89,110) (526,273)
Prepaid royalty 373,370 380,704
License acquisition costs    (8,902)
Inventory 106,834 (1,837,553)
Deposit    (1,500)
Prepaid expenses and other current assets 48,935 (91,667)
Prepaid inventory (30,559) (65,686)
Accounts payable 1,792,028 2,144,990
Customer deposits 50,568   
Accrued expenses and other current liabilities 990,247 433,868
Due to Gold Grenade, LLC 234,550 (108,475)
Net cash used in operating activities (749,758) (2,421,349)
Cash flows from investing activities:    
Acquisition of property and equipment (189,241) (876,549)
Net cash used in investing activities (189,241) (876,549)
Cash flows from financing activities:    
Issuance of common stock, net of financing fees    783,480
Purchase of treasury stock and warrants    (125,000)
Proceeds from short term loans    1,335,000
Paydown of short term loans    (1,335,000)
Payments of preferred dividends (78,126)   
Issuance of bridge note 1,000,000   
Payments for deferred financing fees in relation to bridge note issuance (120,405)   
Issuance of convertible debt 550,000 2,605,284
Payments for deferred financing fees in relation to convertible debt issuance (62,065)   
Net cash provided by financing activities 1,289,404 3,263,764
Net change in cash and cash equivalents 350,405 (34,134)
Cash at beginning of period 388,892 71,532
Cash at end of period 739,297 37,398
Supplemental disclosures of cash flow information:    
Interest 129,539 225,078
Income Taxes      
Non-cash financing activities:    
Conversion of bridge notes and convertible debt 1,953,143 1,925,030
Contribution from shareholders for deferred financing cost    1,537,940
Other non-cash deferred financing fees from issuance of convertible debt    194,381
Fair value of conversion features and warrants issued in connection with equity and debt financing $ 224,899 $ 5,494,386