Balance Sheet

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Jun. 30, 2016
CURRENT ASSETS    
Cash $ 310,749 $ 2,175,543
Inventory, net 2,201,759 3,521,739
Prepaid expenses 196,240 592,769
Other current assets 3,000 3,000
TOTAL CURRENT ASSETS 2,711,748 6,293,051
PROPERTY AND EQUIPMENT, net of accumulated depreciation 17,569 26,736
INTANGIBLES, net of accumulated amortization 170,229 172,725
TOTAL ASSETS 2,899,546 6,492,512
CURRENT LIABILITIES    
Accounts payable and accrued expenses 2,753,444 2,651,657
Payroll taxes, interest and penalties 663,840 590,799
Accrued interest 2,557,435 2,476,036
Unearned revenue 2,057,607 3,419,616
Debt settlement payable 16,795
Derivative liability 408,286 188,128
Current portion of convertible debt, net of unamortized debt discount of $660,141 and $16,980 and net of unamortized warrant discount of $79,783 and $-0- and net of financing costs of $322,229 and $-0-, respectively 7,216,032 609,905
Notes payable, net of unamortized debt discount of $74,821 and $-0-, respectively 220,179 90,000
TOTAL CURRENT LIABILITIES 15,876,823 10,042,936
CONVERTIBLE DEBT, net of current portion and unamortized debt discount of $-0- and $1,291,892 and net of unamortized warrant discount of $-0- and $363,663 and net of financing costs of $-0- and $1,287, 109, respectively 5,805,466
Nonconvertible series A preferred stock, related party 100
TOTAL LIABILITIES 15,876,823 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 - 134,431,613 and 89,242,624, respectively 134,432 89,242
Common stock to be issued for services, par value $0.001 per share, 641,667 and 1,249,998, respectively 34,250 262,166
Additional paid-in capital 28,987,431 25,100,864
Less receivable for stock (50,000) (50,000)
Accumulated deficit (42,083,390) (34,758,262)
TOTAL STOCKHOLDERS' DEFICIT (12,977,277) (9,355,990)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,899,546 $ 6,492,512

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