Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 6 Months Ended 45 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Loss $ (2,638,173) $ (1,168,365) $ (10,654,643)
Amortization of notes payable discount 417,636 17,029 705,136
Amortization of deferred financing costs 149,644 87,429 511,733
Amortization of intangible asset 1,772 0 2,067
Stock-based compensation expense 330,636 0 4,018,138
Derivative expense 505,821 0 663,582
Changes in operating assets and liabilities:      
(Increase) decrease in other assets 81,500 (120,000) (88,969)
(Increase) decrease in due from related parties 18,323 (15,868) (188,286)
Increase in accounts payable and accrued expenses 289,150 346,366 478,529
Increase in accounts payable and accrued expenses - related party 261,205 0 1,066,066
Increase in interest payable 220,884 109,861 601,459
Net Cash Used In Operating Activities (361,602) (743,548) (2,885,188)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of fixed assets 0 0 (11,717)
Acquisition of assets 0 0 (500,000)
(Increase) decrease in interest receivable - related party (6,833) 723 (10,174)
Issuance of note receivable - related party 0 (283,128) (1,138,057)
Payments on note receivable - related party 0 23,378 974,228
Net Cash Used In Investing Activities (6,833) (259,027) (685,720)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of financing costs (142,000) (145,000) (384,000)
Proceeds from issuance of convertible notes payable 1,420,000 1,450,000 4,900,500
Repayments of convertible notes payable 0 0 (35,500)
Proceeds from issuance of notes payable - related party 234,700 0 234,700
Net Cash Provided By Financing Activities 1,512,700 1,305,000 4,715,700
Net increase in cash 1,144,265 302,425 1,144,792
Cash - Beginning of Period 527 25,878 0
Cash - End of Period 1,144,792 328,303 1,144,792
Cash Paid During the Period for:      
Taxes 0 0 0
Interest 0 0 0
Non-Cash Transactions:      
Assumption of accrued expenses in reverse merger 0 0 1,207
Assumption of due to/from related party in reverse merger 0 0 23,263
Assets acquired in asset acquisition:      
Inventory 0 0 223,000
Fixed assets 0 0 264,000
Intangible assets 0 0 13,000
Cash paid for asset acquisition $ 0 $ 0 $ 500,000