XML 20 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:        
Net loss $ (605,503) $ (663,200) $ (1,034,765) $ (1,178,793)
Adjustments to reconcile net loss to net cash used in operating activities -        
Depreciation and amortization 16,019 10,847 25,856 21,271
Gain on sale of assets (1,515) (18,468) (32,707) (27,075)
Stock-based compensation expense 110,433 142,428 241,388 125,675
Non-cash consulting expense 17,400 47,850 63,000 66,750
Non-cash gain on settlement of liabilities by issuing common stock     (22,050) (35,172)
Changes in operating assets and liabilities -        
Accounts receivable, net 308,293 162,309 (162,338) (56,993)
Inventories 35,560 (20,500) (60,195) (84,378)
Prepaid expenses (5,915) (24,030) (22,947) 26,740
Accounts payable (168,433) (59,369) 261,461 210,958
Customer advances 37,100 (70,830) (118,800) 92,600
Accrued expenses (22,880) (31,968) (14,201) 64,624
Net cash used in operating activities (279,441) (524,931) (876,298) (773,793)
Cash Flows from Investing Activities:        
Proceeds from sale of assets 1,515 18,468 32,707 27,075
Additional patent costs (5,848) (2,871) (4,230) (10,972)
Purchases of fixed assets (25,843) (4,372) (4,372) (62,418)
Net cash provided by (used in) investing activities (30,176) 11,225 24,105 (46,315)
Cash Flows from Financing Activities:        
Payment of capital lease obligation (3,864) 0 (4,160) 0
Proceeds from private placement of common stock 780,000 700,000 700,000 980,291
Private placement expenses incurred and paid 0 (16,452) (34,639) (121,512)
Net cash provided by financing activities 776,136 683,548 661,201 858,779
Net (decrease) increase in cash and cash equivalents 466,519 169,842 (190,992) 38,671
Cash and cash equivalents, beginning of year 50,059 241,051 241,051 202,380
Cash and cash equivalents, end of year 516,578 410,893 50,059 241,051
Supplemental Disclosure of Cash Flow Informatin:        
Cash paid during the year for income taxes $ 0 $ 912 912 912
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:        
Issuance of common stock for services rendered to the company     48,300 126,643
Private placement expenses incurred but not yet paid     37,781 6,000
Capital expenditures funded by capital lease borrowings     $ 43,972 $ 0