Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (726,596) $ (367,134)
Adjustments to reconcile net loss to net cash used in operations activities:    
Stock issued for services 293,875 65,490
Stock issued as part of loan agreement 7,000
Increase in sales allowance 9,758 12,923
(Increase) decrease in accounts receivable 23,411 (47,421)
(Increase) decrease in inventory (74,770) 25,479
(Increase) decrease in other current assets 3,686 (3,586)
Increase in accounts payable 68,220 70,666
Increase (decrease) in accrued expenses 72,000 45,894
Increase (decrease) in deferred revenue (457)
Net cash used in operating activities (323,415) (198,146)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of stock 297,500 164,500
Short-term borrowings (repayment)-related party 19,000 5,000
Repayment of short-term debt (3,663) (4,323)
Net cash provided by financing activities 312,837 165,177
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (10,578) (32,969)
Cash and cash equivalents, beginning of year 16,059 49,028
Cash and cash equivalents, end of year 5,481 16,059
Cash Paid For:    
Interest 1,267 743
Income taxes
Conversion of Debt Principal $ 134,517