Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
Dec. 31, 2014
Jun. 30, 2014
Current assets    
Cash $ 8,589,943us-gaap_Cash $ 5,934,534us-gaap_Cash
Inventory 76,135us-gaap_InventoryNet 289,600us-gaap_InventoryNet
Other current assets 66,789us-gaap_OtherAssetsCurrent 83,425us-gaap_OtherAssetsCurrent
Total current assets 8,732,867us-gaap_AssetsCurrent 6,307,559us-gaap_AssetsCurrent
Non-current assets    
Fixed assets, net 1,177,847us-gaap_PropertyPlantAndEquipmentNet 337,932us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 62,552us-gaap_FiniteLivedIntangibleAssetsGross 9,161us-gaap_FiniteLivedIntangibleAssetsGross
Deposit 750,000us-gaap_DepositsAssetsNoncurrent 750,000us-gaap_DepositsAssetsNoncurrent
Total non-current assets 1,990,399us-gaap_AssetsNoncurrent 1,097,093us-gaap_AssetsNoncurrent
Total Assets 10,723,266us-gaap_Assets 7,404,652us-gaap_Assets
Current liabilities:    
Accounts payable and accrued expenses 874,700us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 460,311us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Accounts payable and accrued expenses - related party 188,093us-gaap_DueToRelatedPartiesCurrent 397,055us-gaap_DueToRelatedPartiesCurrent
Convertible notes payable 60,000us-gaap_ConvertibleNotesPayableCurrent 60,000us-gaap_ConvertibleNotesPayableCurrent
Deferred lease liability, current portion 78,022us-gaap_OtherLiabilitiesCurrent 0us-gaap_OtherLiabilitiesCurrent
Lease payable, current portion 91,817us-gaap_CapitalLeaseObligationsCurrent 0us-gaap_CapitalLeaseObligationsCurrent
Interest payable 12,079us-gaap_InterestPayableCurrent 11,079us-gaap_InterestPayableCurrent
Warrant derivative liability 1,066,706us-gaap_DerivativeLiabilitiesCurrent 35,595us-gaap_DerivativeLiabilitiesCurrent
Total current liabilities 2,371,417us-gaap_LiabilitiesCurrent 964,040us-gaap_LiabilitiesCurrent
Non-current liabilities:    
Deferred lease liability, less current portion 464,040us-gaap_OtherLiabilitiesNoncurrent 33,881us-gaap_OtherLiabilitiesNoncurrent
Lease payable, less current portion 70,677us-gaap_CapitalLeaseObligationsNoncurrent 0us-gaap_CapitalLeaseObligationsNoncurrent
Total non-current liabilities 534,717us-gaap_LiabilitiesNoncurrent 33,881us-gaap_LiabilitiesNoncurrent
Total Liabilities 2,906,134us-gaap_Liabilities 997,921us-gaap_Liabilities
Commitments and Contingencies (Note 10)      
Stockholders' equity:    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $0.001 par value, 200,000,000 shares authorized; 22,003,017 and 18,091,792 shares issued and outstanding, December 31, 2014 and June 30, 2014, respectively 22,004us-gaap_CommonStockValue 18,092us-gaap_CommonStockValue
Additional paid-in capital 30,692,312us-gaap_AdditionalPaidInCapital 24,135,563us-gaap_AdditionalPaidInCapital
Accumulated deficit (22,897,184)us-gaap_RetainedEarningsAccumulatedDeficit (17,746,924)us-gaap_RetainedEarningsAccumulatedDeficit
Total stockholders' equity 7,817,132us-gaap_StockholdersEquity 6,406,731us-gaap_StockholdersEquity
Total Liabilities and Stockholders' Equity $ 10,723,266us-gaap_LiabilitiesAndStockholdersEquity $ 7,404,652us-gaap_LiabilitiesAndStockholdersEquity