Quarterly report pursuant to Section 13 or 15(d)

Inventory

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Inventory
9 Months Ended
Mar. 31, 2017
Inventory [Abstract]  
INVENTORY

NOTE 2

  INVENTORY

 

Inventory consists of raw materials; work in process and finished goods. The Company’s inventory is stated at the lower of cost (FIFO cost basis) or market.

 

The carrying value of inventory consisted of the following:

    March 31, 
2017
    June 30, 
2016
 
             
Raw materials   $ 36,794     $ 26,619  
Finished goods     2,334,933       3,652,485  
      2,371,727       3,679,104  
Less Inventory reserve     (157,365 )     (157,365 )
Total   $ 2,214,362     $ 3,521,739  

 

At March 31, 2017 and June 30, 2016, the inventory reserve remained unchanged, respectively.