Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Assets    
Cash $ 4,414 $ 5,624
Accounts receivable - trade 1,007 351
Prepaid expenses and other current assets (related party of $0 and $846 as of June 30, 2013 and 2012, respectively) 1,214 925
Total current assets 6,635 6,900
Fixed assets, net of accumulated depreciation of $20 and $19 as of June 30, 2013 and 2012, respectively 6 3
Intangible assets, net 2,713 2,862
Total assets 9,354 9,765
Liabilities and Stockholders’ Equity    
Accounts payable (related party of $93 and $2,524 as of June 30, 2013 and 2012, respectively) 2,401 2,846
Accrued expenses (related party of $0 and $100 as of June 30, 2013 and 2012, respectively) 1,885 230
Warrant derivative liability 0 520
Total liabilities 4,286 3,596
Commitments and contingencies      
Stockholders’ equity:    
Preferred stock - no par value; 1,000,000 shares authorized; no shares issued and outstanding as of June 30, 2013 and 2012 0 0
Common stock - $0.001 par value; 100,000,000 shares authorized; 56,692,095 and 47,767,095 shares issued and outstanding as of June 30, 2013 and 2012, respectively 57 48
Additional paid-in capital 42,547 37,459
Accumulated deficit (37,536) (31,338)
Total stockholders’ equity 5,068 6,169
Total liabilities and stockholders’ equity $ 9,354 $ 9,765