Balance Sheet

v3.6.0.2
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Jun. 30, 2016
CURRENT ASSETS    
Cash $ 106,363 $ 2,175,543
Inventory, net 2,214,362 3,521,739
Prepaid expenses 196,240 592,769
Other current assets 3,000 3,000
TOTAL CURRENT ASSETS 2,519,965 6,293,051
EQUIPMENT, net of accumulated depreciation 22,153 26,736
INTANGIBLES, net of accumulated amortization 171,477 172,725
TOTAL ASSETS 2,713,595 6,492,512
CURRENT LIABILITIES    
Accounts payable and accrued expenses 2,334,514 2,651,657
Payroll taxes, interest and penalties 560,589 590,799
Accrued interest 2,601,508 2,476,036
Unearned revenue 2,057,607 3,419,616
Debt settlement payable 16,795
Derivative liability 188,128
Current portion of convertible debt, net of unamortized debt discount of $18,225 and $16,980 and net of unamortized warrant discount of $205,227 and $-0- and net of financing costs of $506,759 and $-0- 5,761,074 609,905
Notes payable 90,000 90,000
TOTAL CURRENT LIABILITIES 13,405,292 10,042,936
CONVERTIBLE DEBT, net of current portion and unamortized debt discount of $865,273 and $1,291,892 and net of unamortized warrant discount of $16,496 and $363,663 and net of financing costs of $367,980 and $1,287,109 418,651 5,805,466
Nonconvertible series A preferred stock, related party 100
TOTAL LIABILITIES 13,823,943 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 - 103,989,554 and 89,242,624, respectively 103,989 89,242
Common stock to be issued for services, par value $0.001 per share, 502,500 and 1,249,998, respectively 58,500 262,166
Additional paid-in capital 27,036,562 25,100,864
Less receivable for stock (50,000) (50,000)
Accumulated deficit (38,259,399) (34,758,262)
TOTAL STOCKHOLDERS' DEFICIT (11,110,348) (9,355,990)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,713,595 $ 6,492,512

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