Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Jun. 30, 2016 |
Jun. 30, 2015 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (18,588,000)
|
$ (14,852,000)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
1,168,000
|
1,351,000
|
| Stock-based compensation expense |
742,000
|
1,247,000
|
| Reserve for excess and slow-moving inventories |
566,000
|
162,000
|
| Amortization of Debt Discount (Premium) |
6,127,000
|
|
| Amortization of Debt Issuance Costs |
800,000
|
|
| Change in fair value of derivative obligation |
(3,395,000)
|
|
| Non-cash accrued interest |
1,031,000
|
|
| Loss on cashless exercise of warrants |
1,039,000
|
|
| Loss on extinguishment of debt |
795,000
|
|
| Loss on modification of Series A warrants |
149,000
|
|
| Impairment of intangible asset |
|
117,000
|
| Net changes in operating assets and liabilities: |
|
|
| Accounts receivable |
1,956,000
|
(459,000)
|
| Inventories, Net |
375,000
|
254,000
|
| Prepaid other assets |
(86,000)
|
54,000
|
| Accounts payable |
(2,420,000)
|
1,410,000
|
| Accrued payroll and related expenses |
(256,000)
|
105,000
|
| Deferred revenue |
148,000
|
(3,000)
|
| Other current liabilities |
160,000
|
(76,000)
|
| Other noncurrent liabilities |
64,000
|
41,000
|
| Net cash (used in) operating activities |
(9,625,000)
|
(10,649,000)
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(710,000)
|
(587,000)
|
| Net cash (used in) investing activities |
(710,000)
|
(587,000)
|
| Cash flows from financing activities: |
|
|
| Gross proceeds from convertible debentures |
18,000,000
|
|
| Payment of financing cost – convertible debentures |
(961,000)
|
|
| Repayment of convertible debentures |
(6,444,000)
|
|
| Payment to extinguish derivative obligations |
(159,000)
|
|
| Payments on capital lease obligations |
(67,000)
|
(60,000)
|
| Proceeds from issuance of common stock, net |
2,463,000
|
|
| Repurchase of common stock |
(8,000)
|
(129,000)
|
| Net cash (used in) provided by financing activities |
12,824,000
|
(189,000)
|
| Effects of foreign currency rate changes on cash and cash equivalents |
(11,000)
|
(29,000)
|
| Net (decrease)increase in cash and cash equivalents |
2,478,000
|
(11,454,000)
|
| Cash and cash equivalents at beginning of year |
3,357,000
|
14,811,000
|
| Cash and cash equivalents at end of year |
5,835,000
|
3,357,000
|
| Supplemental non-cash financing and investing information: |
|
|
| Derivative obligation related to issuance of warrants |
4,282,000
|
|
| Reclassification of derivative liability to equity |
58,000
|
|
| Transfer of inventories to equipment |
18,000
|
539,000
|
| Equipment acquired by capital lease |
|
208,000
|
| Retirement of equipment |
$ 1,109,000
|
|