v3.19.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,182,596) $ (3,578,315)
Adjustments to reconcile net loss to net cash used in operations activities:    
Stock issued for services 164,812 476,900
Stock issued as part of loan agreement 89,750 9,517
Amortization of debt discount and deferred financing fees 1,495,334 1,499,255
Change in derivative liability 596,033 187,255
Change in accounts receivable (85,604) 382
Change in inventory (211,757) (29,986)
Change in other current assets (18,809) 1,170
Change in accounts payable 132,914 (21,425)
Change in accrued expenses (32,000) 18,000
Net cash used in operating activities (1,051,923) (1,437,247)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of stock 50,000 36,117
Proceeds from the issuance of debt-net 1,094,005 1,714,093
Advance from shareholders 10,800
Repayment of short-term debt (1,000) (1,496)
Repayment of related party advance (11,795)
Repayment of convertible debt (102,076) (316,500)
Net cash provided by financing activities 1,040,929 1,431,219
NET DECREASE IN CASH AND CASH EQUIVALENTS (10,994) (6,028)
Cash and cash equivalents, beginning of period 48,440 14,326
Cash and cash equivalents, end of period 37,446 8,298
Cash Paid For:    
Interest 89,750 20,723
Income taxes
Summary of Non-Cash Investing and Financing Information:    
Debt discount due to beneficial conversion feature 392,005 1,559,886
Value of embedded derivative liabilities 522,722
Stock issued for conversion of debt $ 1,223,953 $ 292,901

Source