Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Jun. 30, 2015
Current assets    
Cash $ 2,353,032 $ 5,278,706
Restricted cash 450,280 450,167
Inventory 186,758 67,218
Other current assets 64,671 320,293
Total current assets 3,054,741 6,116,384
Non-current assets    
Fixed assets, net 5,496,122 4,524,912
Intangibile assets, net 57,083 58,906
Deposit 562,500 563,000
Total non-current assets 6,115,705 5,146,818
Total Assets 9,170,446 11,263,202
Current liabilities:    
Accounts payable and accrued expenses 1,671,253 1,408,399
Convertible notes payable 60,000 60,000
Deferred lease liability, current portion 101,354 98,671
Lease payable, current portion 93,870 93,852
Interest payable 13,579 13,079
Warrant derivative liability 19,190 31,777
Total current liabilities 1,959,246 1,705,778
Non-current liabilities:    
Deferred lease liability, less current portion 453,586 480,490
Lease payable, less current portion 0 23,127
Total non-current liabilities 453,586 503,617
Total Liabilities $ 2,412,832 $ 2,209,395
Commitments and Contingencies (Note 10)
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 24,338,219 shares issued and outstanding, September 30, 2015 and June 30, 2015 24,341 24,341
Additional paid-in capital 39,130,511 38,138,754
Accumulated deficit (32,397,238) (29,109,288)
Total stockholders' equity 6,757,614 9,053,807
Total Liabilities and Stockholders' Equity $ 9,170,446 $ 11,263,202