3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Segment Reporting

	Three months ended September 30,
Net sales:	2014		2013
United States	$	10,909,143	$	1,079,513
Caribbean and South America		157,700		2,580
Europe, the Middle East and Africa (“EMEA”)		6,383		298,616
Asia		2,542,851		26,394
Totals	$	13,616,077	$	1,407,103

Long-lived assets, net (property and equipment and intangible assets):	September 30, 2014		June 30, 2014
United States	$	1,542,360	$	1,786,910
Asia		733,997		837,371
Totals	$	2,276,357	$	2,624,281

Schedule of estimated useful life, 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

Intangible Assets

The definite lived intangible assets consisted of the following as of September 30, 2014:

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		0.3 years		281,714		268,645		13,069
Complete technology	3 years		0.8 years		361,249		301,053		60,196
Complete technology	3 years		1.0 years		174,009		116,006		58,003
Complete technology	3 years		1.3 years		909,962		505,534		404,428
Complete technology	3 years		2.5 years		65,000		10,833		54,167
Supply and development agreement	8 years		3.1 years		1,121,000		700,625		420,375
Technology in progress	Not Applicable		–		43,560		–		43,560
Software	5 years		1.7 years		196,795		125,920		70,875
Patents	10 years		7.5 years		53,222		823		52,399
Certifications & licenses	3 years		0.9 years		1,657,946		997,193		660,753
Total as of September 30, 2014				$	6,872,140	$	5,034,315	$	1,837,825

The definite lived intangible assets consisted of the following as of June 30, 2014:

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		0.5 years		281,714		245,169		36,545
Complete technology	3 years		1.0 years		361,249		270,949		90,300
Complete technology	3 years		1.3 years		174,009		101,505		72,504
Complete technology	3 years		1.5 years		909,962		429,704		480,258
Complete technology	3 years		2.8 years		65,000		5,417		59,583
Supply and development agreement	8 years		3.3 years		1,121,000		665,594		455,406
Technology in progress	Not Applicable		–		39,545		–		39,545
Software	5 years		2.1 years		196,795		115,173		81,622
Patents	10 years		7.8 years		52,543		761		51,782
Certifications & licenses	3 years		1.4 years		1,618,401		860,130		758,271
Total as of June 30, 2014				$	6,827,901	$	4,702,085	$	2,125,816