3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Segment Reporting

	Three Months Ended				Six Months Ended
	December 31,				December 31,
Net sales:	2014		2013		2014		2013
United States	$	8,816,503	$	4,002,728	$	19,725,646	$	5,082,241
Caribbean and South America		1,257,352		1,836,500		1,415,052		1,839,080
Europe, the Middle East and Africa (“EMEA”)		1,357,015		461,521		1,363,398		760,137
Asia		1,063,817		1,253,096		3,606,668		1,279,490
Totals	$	12,494,687	$	7,553,845	$	26,110,764	$	8,960,948

Long-lived assets, net (property and equipment and intangible assets):	December 31, 2014		June 30, 2014
United States	$	1,252,026	$	1,786,910
Asia		715,463		837,371
Totals	$	1,967,489	$	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 December 31, 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		–		281,714		281,714		–
Complete technology	3 years		0.5		361,249		331,157		30,092
Complete technology	3 years		0.8		174,009		130,506		43,503
Complete technology	3 years		1.0		909,962		581,365		328,597
Complete technology	3 years		2.3		65,000		16,250		48,750
Supply and development agreement	8 years		2.8		1,121,000		735,656		385,344
Technology in progress	Not Applicable		–		–		–		–
Software	5 years		1.6		196,795		136,666		60,129
Patents	10 years		7.8		53,220		883		52,337
Certifications and licenses	3 years		1.2		1,745,662		1,133,715		611,947
Total as of December 31, 2014				$	6,916,294	$	5,355,595	$	1,560,699

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

Definite lived intangible assets:	Expected Life	Average Remaining life		Accumulated Amortization		Gross Intangible Assets		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 and 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