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3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Segment information by geographic areas

		Three Months Ended
		September 30,
Net sales:		2015				2014
United States		$	10,110,335			$	10,909,143
Caribbean and South America			93,000				157,700
Europe, the Middle East and Africa (“EMEA”)			1,742,203				6,383
Asia			2,928				2,542,851
Totals		$	11,948,466			$	13,616,077

Long-lived assets, net (property and equipment and intangible assets):		September 30, 2015				June 30, 2015
United States		$	698,090			$	785,144
Asia			504,281				571,629
Totals		$	1,202,371			$	1,356,773

Useful lives of property and equipment

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 or life of the lease, whichever is shorter

Intangible Assets

The definite lived intangible assets consisted of the following as of September 30, 2015:

Definite lived intangible assets:		Expected Life		Average Remaining life		Gross Intangible Assets				Accumulated Amortization				Net Intangible Assets
Complete technology		3 years		–		$	490,000			$	490,000			$	–
Complete technology		3 years		–			1,517,683				1,517,683				–
Complete technology		3 years		–			281,714				281,714				–
Complete technology		3 years		–			361,249				361,249				–
Complete technology		3 years		–			174,009				174,009				–
Complete technology		3 years		0.3 years			909,962				808,855				101,107
Complete technology		3 years		1.6 years			65,000				32,500				32,500
Complete technology		3 years		2.3 years			2,402				600				1,802
Complete technology		3 years		2.5 years			6,405				1,068				5,337
Supply and development agreement		8 years		2.1 years			1,121,000				840,750				280,250
Technology in progress		Not Applicable		–			138,912				–				138,912
Software		5 years		0.9 years			197,417				169,060				28,357
Patents		10 years		6.6 years			58,391				1,213				57,178
Certifications & licenses		3 years		0.2 years			1,793,561				1,501,422				292,139
Total as of September 30, 2015						$	7,117,705			$	6,180,123			$	937,582

The definite lived intangible assets consisted of the following as of June 30, 2015:

Definite lived intangible assets:		Expected Life		Average Remaining life		Gross Intangible Assets				Accumulated Amortization				Net Intangible Assets
Complete technology		3 years		–		$	490,000			$	490,000			$	–
Complete technology		3 years		–			1,517,683				1,517,683				–
Complete technology		3 years		–			281,714				281,714				–
Complete technology		3 years		–			361,249				361,249				–
Complete technology		3 years		0.3 years			174,009				159,508				14,501
Complete technology		3 years		0.5 years			909,962				733,025				176,937
Complete technology		3 years		1.8 years			65,000				27,083				37,917
Complete technology		3 years		2.5 years			2,402				400				2,002
Complete technology		3 years		2.8 years			6,405				534				5,871
Supply and development agreement		8 years		2.3 years			1,121,000				805,719				315,281
Technology in progress		Not Applicable		–			–				–				–
Software		5 years		1.1 years			197,418				158,284				39,134
Patents		10 years		6.8 years			57,655				1,005				56,650
Certifications & licenses		3 years		0.4 years			1,783,561				1,389,573				393,988
Total as of June 30, 2015						$	6,968,058			$	5,925,777			$	1,042,281

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