v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2012
Jun. 30, 2011
ASSETS    
Cash and cash equivalents ($3,470 and $23,184) $ 11,727 $ 50,598
Accounts receivable, net of allowances of $- and $9,000 at March 31, 2012 and June 30, 2011, respectively ($12,157 and $155,376) 46,292 219,494
Prepaid expenses and other current assets ($2,000 and $16,053) 7,073 28,337
Assets related to discontinued operations 5,000,000 5,000,000
Total Current Assets 5,065,092 5,298,429
Property and Equipment - Net of accumulated depreciation of $2,975 and $1,249 at March 31, 2012 and June 30, 2011, respectively 54,673 22,299
Other Assets    
Deposits 18,000 46,525
Deferred financing costs 0 36,000
Customer contracts, less accumulated amortization of $189,582 and $58,332 at March 31, 2012 and June 30, 2011, respectively 160,418 291,668
Total Other Assets 178,418 374,193
Total Assets 5,298,183 5,694,921
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable ($221,290 and $185,644) 1,364,169 1,094,666
Accrued expenses and other current liabilities ($66,785 and $65,958) 171,845 185,758
Accrued compensation 125,000 45,000
Accrued income taxes 256,710 369,816
Notes payable - current, net of discounts 129,221 46,250
Contingent value rights payable 3,390,000 3,194,247
Liabilities related to discontinued operations 1,045,374 1,045,374
Total Current Liabilities 6,482,319 5,981,111
Notes payable - long-term, net of discounts 69,836 0
Total Liabilities 6,552,155 5,981,111
Commitments and Contingencies      
Stockholders' Deficit    
Preferred stock - Series E 5% Convertible; stated value $1,000 per share; 200 and 300 shares issued and outstanding at March 31, 2012 and June 30, 2011, respectively (preference in liquidation at March 31, 2012 and June 30, 2011 of $214,344 and $303,511, respectively) 200,000 300,000
Common stock - par value $.001 per share; 495,000,000 shares authorized; 123,578,320 and 120,279,296 shares issued and outstanding at March 31, 2012 and June 30, 2011, respectively 123,578 120,279
Additional paid-in capital 3,464,741 2,917,952
Accumulated deficit (4,811,482) (3,437,130)
Total stockholders' deficit of AccelPath, Inc. (1,023,163) (98,899)
Non-controlling interest (230,809) (187,291)
Total Stockholders' Deficit (1,253,972) (286,190)
Total Liabilities and Stockholders' Deficit $ 5,298,183 $ 5,694,921