General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2011
Current assets        
Cash $ 5,641,627 $ 527 $ 25,878 $ 646
Note receivable - related party 0 163,829 832,454 407,004
Interest receivable - related party 0 3,341 31,547 7,111
Inventory 223,000 223,000 0 0
Due from related party 0 183,346 0 0
Deferred financing, net 0 146,037 76,507 51,028
Other current assets 119,800 95,469 102,175 100,000
Total current assets 5,984,427 815,549 1,068,561 565,789
Non-current assets        
Fixed assets 275,717 275,717 0 0
Intangible assets, net 10,047 12,705 0 0
Total non-current assets 285,764 288,422 0 0
Total Assets 6,270,191 1,103,971 1,068,561 565,789
Current liabilities:        
Accounts payable and accrued expenses 645,696 188,346 107,022 186,764
Accounts payable and accrued expenses - related party 1,122,839 807,001 2,140 2,140
Convertible notes payable, current portion 657,500 3,732,500 2,138,188 1,160,814
Note payable - related party 234,700 0    
Interest payable 98,718 380,575 110,124 51,817
Warrant derivative liability 102,917 157,761 0 0
Total current liabilities 2,862,370 5,266,183 2,357,474 1,401,535
Non-current liabilities:        
Convertible notes payable, less current portion   0 0 54,958
Total non-current liabilities   0 0 54,958
Total Liabilities   5,266,183 2,357,474 1,456,493
Commitments and Contingencies (Note 11)            
Stockholders' deficit:        
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding 0 0 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized; 6,666,667, 5,880,667 and 5,880,667 shares issued and outstanding, June 30, 2013 and 2012 and December 31, 2011, respectively 14,617 6,667 35,284 35,284
Common stock subscribed   0 (35,284) (35,284)
Additional paid-in capital 19,134,897 3,847,591 100 100
Deficit accumulated during the development stage (15,741,693) (8,016,470) (1,289,013) (890,804)
Total stockholders' deficit 3,407,821 (4,162,212) (1,288,913) (890,704)
Total Liabilities and Stockholders' Deficit $ 6,270,191 $ 1,103,971 $ 1,068,561 $ 565,789