XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows Statement - USD ($)
9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (596,260) $ (9,834,103)
Adjustments to reconcile net loss to cash flows from operating activities:    
Loss on extinguishment of liability 55,498 5,757,290
Change in fair value of derivative liability (5,000) 249,737
Stock compensation expense 681,668
Issuance of common stock for services 2,155,000
Changes in operating assets and liabilities:    
Accounts receivable (206,326) 194,507
Inventory 36,806 336,658
Undeposited funds 3,912
Employee advance 2,625
Prepaid expense 18,850
Other assets (89,523) (135,000)
Bank overdraft 9,263 12,727
Accounts payable and accrued liabilities (101,725) (935,256)
Company credit card (71,574)
Customer deposits (3,709) 36,663
Payroll liabilities 28,142
Sales tax payable (1,515)
Accrued interest 56,997 49,793
Net cash used in operating activities (843,979) (1,449,876)
Cash flows from investing activities:    
Loan receivables (3,500) 39,971
Payment for acquisition of property and equipment (4,177)
Cash acquired from acquisition of SWC 209,214
Net cash provided by (used in) investing activities (7,677) 249,185
Cash flows from financing activities:    
Proceeds from issuance of common stock 230,000 290,000
Proceeds from (Payments for) loan 173,880 (444,073)
Payments for note payable (105,500) (90,000)
Proceeds from EB-Five investment 500,000 1,470,000
Net cash provided by (used in) financing activities 798,380 1,225,927
Net increase (decrease) in cash (53,276) 25,236
Cash, beginning of period 58,260
Cash, end of period 4,984 25,236
Cash paid during the period for:    
Interest
Income taxes
Supplemental disclosure of non-cash financing activities    
Debts settled through shares issuance $ 35,207 $ 1,838,056