XML 18 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities    
Net income (loss) $ 307,390 $ (437,837)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization $ 389,652 275,222
Interest from amortization of debt costs 13,270
Loss on disposal of property and equipment $ 11,876 218
Stock based compensation 174,588 138,075
Provision for doubtful accounts receivable (289) (13,784)
Change in fair value of warrant liability 687,065 (480,826)
Deferred rent 72,546 (42,269)
Changes in operating assets and liabilities:    
Trade accounts receivables 40,438 74,960
Other receivables 64,048 1,760
Inventories (331,414) (84,580)
Prepaid expenses and other assets (137,279) (39,338)
Accounts payable and accrued liabilities $ (232,585) 199,679
Deferred revenue 3,500
Net cash provided by (used in) operating activities $ 1,046,036 (391,950)
Cash flows from investing activities    
Purchase of property and equipment (596,072) $ (395,766)
Proceeds from sale of equipment 5,916
Net cash used in investing activities (590,156) $ (395,766)
Cash flows from financing activities    
Proceeds from exercise of stock options 2,808
Proceeds from sale of common stock from employee stock purchase plan 8,228 $ 13,229
Net payments on loan payable 27,632
Proceeds from exercise of warrants, net of costs (32,216) $ (205,271)
Payments on capital lease obligation $ (62,764) (3,398)
Borrowings on capital lease obligations 513,081
Net cash used in financing activities $ (56,312) 317,641
Effect of exchange rate on cash and cash equivalents 459,565 68,099
Change in cash and cash equivalents 859,133 (401,976)
Cash and cash equivalents, beginning of period 1,643,920 1,197,080
Cash and cash equivalents, end of period 2,503,053 795,104
Supplemental disclosure of cash flow information:    
Interest paid in cash 21,813 10,131
Income taxes paid 4,084 $ 1,036
Supplemental disclosure of non-cash investing & financing activities:    
Derecognition of liability associated with stock option grants $ 143,125