Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Jun. 30, 2016
Current assets :    
Cash $ 72,536 $ 5,481
Accounts receivable (net of allowance of $0 and $22,363, respectively) 4,338 1,358
Inventory 103,561 121,706
Other current assets 1,400
Total current assets 180,434 129,945
Total assets 180,434 129,945
Current liabilities:    
Accounts payable 184,885 165,441
Accrued expense-related party 162,000 108,000
Convertible notes payable - net of discount 6,076
Short-term borrowings 4,424 4,290
Advance from shareholders 995 23,000
Advance- related party 1,000
Total current liabilities 358,380 301,731
Long term borrowings 2,222
Commitments and contingencies
Stockholders' deficit:    
Common stock, ($0.001 par value, 100,000,000 shares authorized, and 29,574,432 issued and outstanding as of March 31, 2017 and 28,501,932 outstanding as of June 30, 2016, respectively) 29,574 28,502
Additional paid in capital 2,680,618 2,263,294
Accumulated deficit (2,888,138) (2,465,804)
Total stockholders' deficit (177,946) (174,008)
Total Liabilities and Stockholders' Deficit $ 180,434 $ 129,945

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v3.7.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]        
Revenues $ 13,098 $ (1,781) $ 23,605 $ 19,374
Operating expenses        
Cost of product sold 4,987 23,963 20,233 79,047
Advertising and promotional 6,944 6,960 8,002 84,238
Selling, general and administrative 61,630 23,566 79,661 62,065
Professional Fees 197,720 177,546 327,092 312,414
Total operating expenses 271,281 232,035 434,988 537,764
Loss from operations (258,183) (233,816) (411,383) (518,390)
Interest expense - bank debt 190 311 529 928
Interest expense - shareholder 500 7,000 5,500 7,000
Interest amortization expense 4,922 4,922
Total interest expense 5,612 7,311 10,951 7,928
Provision for income tax
Net loss $ (263,795) $ (241,127) $ (422,334) $ (526,318)
Basic and diluted net loss per common share $ (0.01) $ (0.01) $ (0.01) $ (0.02)
Weighted average shares of capital outstanding - basic and diluted 29,370,543 27,966,283 28,821,339 27,292,178

Source

v3.7.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (422,334) $ (526,318)
Adjustments to reconcile net loss to net cash used in operations activities:    
Stock issued for services 141,800 180,300
Stock issued as part of loan agreement 5,000 7,000
Amortization of debt discount and deferred financing fees 4,922
Decrease in accounts receivable allowance 9,440
(Increase) decrease in accounts receivable (2,980) 11,814
Decrease in inventory 18,145 (88,800)
Increase in other current assets 1,400 3,487
Increase in accounts payable 19,444 33,289
Increase in accrued expenses 54,000 54,000
Net cash used in operating activities (180,602) (315,788)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of stock 10,000 297,500
Proceeds from the issuance of debt-net 262,750
Advance from shareholders 21,984 14,000
Repayment to shareholders (43,989)
Repayment of short-term debt (2,089) (2,574)
Repayment of related party advance (1,000) (5,000)
Net cash provided by financing activities 247,656 303,926
NET (INCREASE) IN CASH AND CASH EQUIVALENTS 67,055 (11,862)
Cash and cash equivalents, beginning of period 5,481 16,059
Cash and cash equivalents, end of period 72,536 4,197
Cash Paid For:    
Interest 1,029 928
Income taxes
Debt discount due to beneficial conversion feature $ 261,596

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