Prepaid Expenses and Other Current Assets

6 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

As of December 31, 2015 and June 30, 2015 our prepaid expenses and other current assets consisted of the following:



	December 31, 2015		June 30, 2015
Prepaid insurance	$	133,927	$	178,994
Equipment inventory (a)	—		81,538
Retainers and deposits	26,978		26,978
Prepaid federal and state income taxes	204,694		22,542
Other prepaid expenses	30,419		59,352
Prepaid expenses and other current assets	$	396,018	$	369,404

(a) As discussed in Note 2, our equipment inventory was determined to have no future value in use for our operations and was charged to restructuring costs as part of the separation of our GARP^® artificial lift technology operations.