XML 17 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income (loss) $ 1,083,148 $ (348,046)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 609,029 392,088
Interest from amortization of debt costs   13,270
Loss on disposal of property and equipment 46,065 218
Stock based compensation 261,615 211,516
Provision for doubtful accounts receivable (289) (13,784)
Change in fair value of warrant liability 25,211 (375,308)
Deferred rent 43,153 (19,362)
Changes in operating assets and liabilities:    
Trade accounts receivables (133,884) 54,509
Other receivables 42,947 (34,396)
Inventories (657,596) (212,561)
Prepaid expenses and other assets (241,450) (80,279)
Accounts payable and accrued liabilities 157,877 (252,959)
Net cash provided by (used in) operating activities 1,235,826 (665,094)
Cash flows from investing activities    
Purchase of property and equipment (755,800) (515,897)
Proceeds from sale of equipment 5,916  
Net cash used in investing activities (749,884) (515,897)
Cash flows from financing activities    
Proceeds from exercise of stock options 6,430  
Proceeds from sale of common stock, net of costs   1,122,054
Proceeds from sale of common stock from employee stock purchase plan 391,082  
Proceeds from exercise of warrants, net of costs 22,903 13,229
Net payments on loan payable (51,585) (165,057)
Payments on capital lease obligation (96,718) (16,566)
Net cash provided by (used in) financing activities 272,112 953,660
Effect of exchange rate on cash and cash equivalents 460,612 90,362
Change in cash and cash equivalents 1,218,666 (136,969)
Cash and cash equivalents, beginning of period 1,643,920 1,197,080
Cash and cash equivalents, end of period 2,862,586 1,060,111
Supplemental disclosure of cash flow information:    
Interest paid in cash 30,101 13,062
Income taxes paid 131,054 1,836
Supplemental disclosure of non-cash investing & financing activities:    
Purchase of equipment through capital lease arrangements   $ 523,660
Derecognition of liability associated with stock option grants $ 143,125