Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Jun. 30, 2014
Current assets    
Cash $ 5,278,706 $ 5,934,534
Restricted cash 450,167 0
Inventory 67,218 289,600
Other current assets 320,293 83,425
Total current assets 6,116,384 6,307,559
Non-current assets    
Fixed assets, net 4,524,912 337,932
Intangible assets, net 58,906 9,161
Deposit 563,000 750,000
Total non-current assets 5,146,818 1,097,093
Total Assets 11,263,202 7,404,652
Current liabilities:    
Accounts payable and accrued expenses 1,408,399 460,311
Accounts payable and accrued expenses - related party 0 397,055
Convertible notes payable 60,000 60,000
Deferred lease liability, current portion 98,671 0
Lease payable, current portion 93,852 0
Interest payable 13,079 11,079
Warrant derivative liability 31,777 35,595
Total current liabilities 1,705,778 964,040
Non-current liabilities:    
Deferred lease liability, less current portion 480,490 33,881
Lease payable, less current portion 23,127 0
Total non-current liabilities 503,617 33,881
Total Liabilities $ 2,209,395 $ 997,921
Commitments and Contingencies (Note 12)
Stockholders' equity:    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding $ 0 $ 0
Common stock, $0.001 par value, 200,000,000 shares authorized; 24,338,219 and 18,091,792 shares issued and outstanding, June 30, 2015 and 2014, respectively 24,341 18,092
Additional paid-in capital 38,138,754 24,135,563
Accumulated deficit (29,109,288) (17,746,924)
Total stockholders' equity 9,053,807 6,406,731
Total Liabilities and Stockholders' Equity $ 11,263,202 $ 7,404,652