XML 19 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income (loss) $ 1,414,615 $ (715,280)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 847,990 537,143
Interest from amortization of debt costs 13,270
Loss on disposal of property and equipment 45,037 (1,482)
Stock based compensation 348,735 284,950
Provision for doubtful accounts receivable (289) (15,745)
Change in fair value of warrant liability 52,454 464,039
Deferred rent 35,523 16,175
Changes in operating assets and liabilities:    
Trade accounts receivables (650,753) (560,810)
Other receivables 40,597 (53,838)
Inventories (916,899) 22,130
Prepaid expenses and other assets (415,444) 1,556
Accounts payable and accrued liabilities 724,147 90,074
Net cash provided by operating activities 1,525,713 82,182
Cash flows from investing activities    
Purchase of property and equipment (1,131,098) (688,798)
Proceeds from sale of equipment 5,916
Net cash used in investing activities (1,125,182) (688,798)
Cash flows from financing activities    
Proceeds from exercise of stock options 6,430
Proceeds from sale of common stock, net of costs of $181,052 1,122,054
Proceeds from sale of common stock from employee stock purchase plan 22,903 13,230
Settlement for Class E Shares (582)
Proceeds from exercise of warrants, net of costs 391,083
Net payments on loan payable (51,585) (113,472)
Payments on capital lease obligations (131,341) (59,412)
Net cash provided by financing activities 236,908 962,400
Effect of exchange rate on cash and cash equivalents 626,665 91,056
Change in cash and cash equivalents 1,264,104 446,840
Cash and cash equivalents, beginning of period 1,643,920 1,197,080
Cash and cash equivalents, end of period 2,908,024 1,643,920
Supplemental disclosure of cash flow information:    
Interest paid in cash 37,627 18,280
Income taxes paid 4,296 2,316
Supplemental disclosure of non-cash investing & financing activities:    
Landlord credits for leasehold improvements 420,014
Purchase of equipment through capital lease arrangements 523,660
Derecognition of liability associated with stock option grants $ 143,125