Condensed Consolidated Statements of Cash Flows - USD ($)
|
3 Months Ended |
Sep. 30, 2018 |
Sep. 30, 2017 |
| Cash flows from operating activities |
|
|
| Net loss |
$ (2,854,053)
|
$ (3,985,024)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation of property, plant and equipment |
38,344
|
97,392
|
| Stock-based compensation, net |
314,642
|
435,608
|
| Equity in loss of investee company |
15,946
|
50,025
|
| Provision for inventory reserve |
57,265
|
54,928
|
| Gain on sale of property, plant and equipment |
(11,124)
|
(70,000)
|
| Interest accreted on note receivable |
0
|
(3,024)
|
| Impairment of long-lived assets |
0
|
447,000
|
| Changes in assets and liabilities |
|
|
| Accounts receivable |
197,505
|
265,250
|
| Inventories |
(324,294)
|
84,523
|
| Costs and estimated earnings in excess of billings |
(335,575)
|
(504,873)
|
| Prepaids and other current assets |
447,250
|
(151,826)
|
| Accounts payable |
(264,343)
|
1,003,940
|
| Billings in excess of costs and estimated earnings |
81,963
|
(331,603)
|
| Accrued expenses |
(175,958)
|
(184,366)
|
| Deferred revenue |
172,422
|
0
|
| Net cash used in operating activities |
(2,640,010)
|
(2,792,050)
|
| Cash flows from investing activities |
|
|
| Expenditures for property and equipment |
(75,430)
|
0
|
| Proceeds from sale of property, plant and equipment |
11,124
|
70,000
|
| Payments from note receivable |
0
|
6,000
|
| Net cash provided by (used in) investing activities |
(64,306)
|
76,000
|
| Cash flows from financing activities |
|
|
| Repayments of long term debt |
0
|
(84,348)
|
| Net proceeds from issuance of common stock |
2,701,569
|
119,459
|
| Contribution of capital from noncontrolling interest |
0
|
1,956
|
| Net cash provided by financing activities |
2,701,569
|
37,067
|
| Net decrease in cash and cash equivalents |
(2,747)
|
(2,678,983)
|
| Cash and cash equivalents - beginning of period |
2,984,532
|
11,782,962
|
| Cash and cash equivalents - end of period |
2,981,785
|
9,103,979
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid for interest |
2,559
|
11,452
|
| Supplemental noncash information: |
|
|
| Right of use asset obtained in exchange for new operating lease |
$ (75,629)
|
$ (19,467)
|