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3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Sep. 30, 2012
Accounting Policies [Abstract]  
Segment Reporting

The following table contains certain financial information by geographic area:

 

    Three Months Ended September 30,  
Net sales:   2012     2011  
United States   $ 11,952,092     $ 2,378,507  
Caribbean and South America     746,300       38,700  
Asia     438,686       706,247  
Totals   $ 13,137,078     $ 3,123,454  

 

Long-lived assets, net:   September 30, 2012     June 30, 2012  
United States   $ 1,335,925     $ 706,065  
Asia     2,884,912       3,237,435  
Totals   $ 4,220,837     $ 3,943,500  
Property and Equipment

Depreciation is computed using the straight-line method over the estimated useful lives as follows:

 

Machinery 6 years
Office equipment 5 years
Molds 3 years
Vehicles 5 years
Computers and software 5 years
Furniture and fixtures 7 years
Facilities 5 years
Intangible Assets

The definite lived intangible assets consisted of the following as of September 30, 2012:

 

Definite Lived Intangible Assets:   Expected Life     Average Remaining Life     Gross Intangible Assets     Accumulated 
Amortization		     Net Intangible 
Assets		  
Complete technology     3 years       0.0 years     $ 490,000     $ 490,000     $ –  
Complete technology     3 years       0.6 years       1,517,683       1,225,304       292,379  
Complete technology     3 years       2.3 years       281,714       80,835       200,879  
Complete technology     3 years       2.8 years       361,249       60,220       301,029  
Supply and development agreement     8 years       5.1 years       1,121,000       420,375       700,625  
Technology in progress     Not Applicable       –       1,205,005       –       1,205,005  
Software     5 years       3.0 years       168,801       52,206       116,595  
Patent     10 years       9.5 years       11,944       348       11,596  
Certifications & licenses     3 years       2.7 years       916,009       79,206       836,803  
Total  as of September 30, 2012    $ 6,073,405     $ 2,408,494     $ 3,664,911                  

 

The definite lived intangible assets consisted of the following as of June 30, 2012:

 

Definite Lived Intangible Assets:   Expected Life     Average Remaining Life     Gross Intangible Assets     Accumulated 
Amortization		     Net Intangible Assets  
Complete technology     3 years       0.3 years     $ 490,000     $ 449,167     $ 40,833  
Complete technology     3 years       0.8 years       1,517,683       1,098,830       418,853  
Complete technology     3 years       2.5 years       281,714       46,952       234,762  
Supply and development agreement     8 years       5.3 years       1,121,000       385,344       735,656  
Technology 
in progress		     Not Applicable       –       1,258,499       –       1,258,499  
Software     5 years       3.3 years       163,607       44,033       119,574  
Patent     10 years       9.7 years       11,944       289       11,655  
Certifications & licenses     3 years       2.9 years       701,622       5,942       695,680  
Total as of June 30, 2012    $ 5,546,069     $ 2,030,557     $ 3,515,512