Balance Sheet

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Jun. 30, 2016
CURRENT ASSETS    
Cash $ 637,629 $ 2,175,543
Accounts receivable 12,000
Inventory, net 2,214,362 3,521,739
Prepaid expenses 196,240 592,769
Other current assets 3,000 3,000
TOTAL CURRENT ASSETS 3,063,231 6,293,051
EQUIPMENT, net of accumulated depreciation 19,861 26,736
INTANGIBLES, net of accumulated amortization 170,853 172,725
TOTAL ASSETS 3,253,945 6,492,512
CURRENT LIABILITIES    
Accounts payable and accrued expenses 2,462,887 2,651,657
Payroll taxes, interest and penalties 622,909 590,799
Accrued interest 2,535,305 2,476,036
Unearned revenue 2,057,607 3,419,616
Debt settlement payable 16,795
Derivative liability 427,824 188,128
Current portion of convertible debt, net of unamortized debt discount of $261,925 and $16,980 and net of unamortized warrant discount of $138,063 and $-0- and net of financing costs of $375,004 and $-0- 6,292,293 609,905
Notes payable, net of unamortized debt discount of $40,563 and $-0- 110,937 90,000
TOTAL CURRENT LIABILITIES 14,509,762 10,042,936
CONVERTIBLE DEBT, net of current portion and unamortized debt discount of $703,655 and $1,291,892 and net of unamortized warrant discount of $12,690 and $363,663 and net of financing costs of $318,276 and $1,287,109 276,279 5,805,466
Nonconvertible series A preferred stock, related party 100
TOTAL LIABILITIES 14,786,041 15,848,502
STOCKHOLDERS' DEFICIT    
Preferred stock, par value $0.001 per share Authorized - 4,000,000 shares Designated 1,000 Series A preferred stock, Issued and outstanding - Nil and 1,000 shares, respectively
Common stock, par value $0.001 per share Authorized -300,000,000 shares - issued and outstanding - 122,798,480 and 89,242,624, respectively 122,798 89,242
Common stock to be issued for services, par value $0.001 per share, 706,000 and 1,249,998, respectively 56,480 262,166
Additional paid-in capital 28,303,297 25,100,864
Less receivable for stock (100,000) (50,000)
Accumulated deficit (39,914,671) (34,758,262)
TOTAL STOCKHOLDERS' DEFICIT (11,532,096) (9,355,990)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 3,253,945 $ 6,492,512

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