Annual report pursuant to Section 13 and 15(d)

Summary of significant accounting policies (Tables)

v3.10.0.1
Summary of significant accounting policies (Tables)
12 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of revised prior period amounts

Tabular summaries of the revisions are presented below:

 

   

Consolidated Balance Sheet 

June 30, 2017

 
    Previously
Reported
    Revisions     Revised
Reported
 
Additional paid in capital   $ 30,774,885     $ 725,004     $ 31,499,889  
                         
Accumulated deficit     (15,783,053 )     (725,004 )     (16,508,057 )

  

   

Consolidated Statement of Operations

Year ended June 30, 2017

 
    Previously
Reported
  Revisions     Revised
Reported
 
Net loss   $ (9,108,240 )   $ (725,004 )   $ (9,833,244 )
                         
Net loss per ordinary share:                        
Basic   $ (0.54 )   $ (0.04 )   $ (0.58 )
Schedule of inventory

Inventory is stated at the lower of cost or net realizable value using the first-in, first-out (FIFO) valuation method. Inventory was comprised of the following at June 30, 2018 and 2017:

 

    June 30, 2018     June 30, 2017  
Finished goods held for resale   $ 23,441     $ 49,374  
Raw materials     34,115       139,102  
    $ 57,556     $ 188,476  
Schedule of common stock equivalents

The Company had the following common stock equivalents at June 30, 2018 and 2017:

 

    June 30,
2018
    June 30,
2017
 
Options     1,338,859       160,000  
Warrants     748,572       612,165  
Total     2,087,431       772,165