XML 55 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2012
Summary of Significant Accounting Policies [Abstract]  
Summary of fair values of financial instruments
                                 

June 30, 2011

 

Instrument

  Fair Value     Carrying Value     Level     Valuation Methodology  

Marketable Securities

  $ 350,000     $ 350,000       2       Market Price  

Derivative warrant liabilities

  $ 27,341,284     $ 27,341,284       3      
 
Dilution Adjusted
Black-Scholes
  
  

Embedded conversion liability

  $ —       $ —         3       Lattice model  
Reconciliation of the changes in fair value of financial instruments
                 
    June 30, 2012     June 30, 2011  

Beginning balance: Derivative liabilities

  $ 27,341,284     $ 18,567,450  

Total losses

    6,740,525       48,454,271  

Reclassification of liability to equity

    (16,478,071     —    

Purchases, sales, issuances and settlements, net

    (17,603,738     (39,680,437
   

 

 

   

 

 

 

Ending balance: Derivative liabilities

  $ —       $ 27,341,284  
   

 

 

   

 

 

 
Components of Inventory
                 
    June 30,  
    2012     2011  

Finished goods

  $ 5,964,134     $ 736,103  

Raw materials

    5,388,655       1,388,560  
   

 

 

   

 

 

 

Total inventory

  $ 11,352,789     $ 2,124,663  
   

 

 

   

 

 

 
Property and Equipment
                 
    June 30,  
    2012     2011  

Equipment

  $ 1,972,306     $ 471,962  

Software

    687,242       96,503  

Accumulated depreciation

    (662,699     (340,654
   

 

 

   

 

 

 

Property and equipment, net

  $ 1,996,849     $ 227,811  
   

 

 

   

 

 

 
Intangible Assets
                 
    June 30,  
    2012     2011  

Patent costs

  $ 2,321,186     $ 2,290,558  

Trademark costs

    201,813       180,120  

Accumulated amortization

    (641,357     (507,401
   

 

 

   

 

 

 

Intangible assets, net

  $ 1,881,642     $ 1,963,277  
   

 

 

   

 

 

 
Reconciliation of earnings per share and the weighted-average common shares outstanding for purposes of computing basic and diluted net income per share
                 
    Year ended June 30,  
    2012     2011  

Numerator:

               

Net income (loss)

  $ 12,469,077     $ (50,791,750

Denominator:

               

Basic weighted-average common shares outstanding

    102,695,919       73,173,498  

Effect of dilutive securities:

               

Stock awards and options

    5,516,411       —    

Warrants

    10,118,568       —    
   

 

 

   

 

 

 

Diluted weighted-average common shares outstanding

    118,330,898       73,173,498  
   

 

 

   

 

 

 

Basic

  $ 0.12     $ (0.69
   

 

 

   

 

 

 

Diluted

  $ 0.11     $ (0.69
   

 

 

   

 

 

 
Revenues from unaffiliated customers by geographic regions and significant geographic area
                 
    Years ended June 30,  
    2012     2011  

Americas

  $ 90,121,702     $ 31,625,250  

Asia/Pacific

    36,061,146       7,293,973  
   

 

 

   

 

 

 

Total revenues

  $ 126,182,848     $ 38,919,223  
   

 

 

   

 

 

 

Additional information as to the Company’s operations in the most significant geographical areas is set forth below:

 

                 
    Years ended June 30,  
    2012     2011  

United States

  $ 89,230,031     $ 31,218,035  

Japan

    35,449,236       7,293,973