GROEN BROTHERS AVIATION INC /UT/
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Condensed Consolidated Statements of Operations (USD $)
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12 Months Ended | |
|---|---|---|
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Jun. 30, 2012
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Jun. 30, 2011
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|
| Revenues | $ 12,000 | $ 4,000 |
| Cost of sales | 7,000 | 10,000 |
| Research and development expenses | 1,541,000 | 1,622,000 |
| General and administrative expenses | 2,013,000 | 2,399,000 |
| Total costs and expenses | 3,561,000 | 4,031,000 |
| Loss from operations | (3,549,000) | (4,027,000) |
| Related party interest income | 3,000 | 2,000 |
| Gain on sale of property and equipment | 62,000 | |
| Gain on extinguishment of debt | 569,000 | 87,000 |
| Interest expense | (15,670,000) | (13,043,000) |
| Series B preferred stock interest expense | (7,162,000) | (6,389,000) |
| Total other income (expense) | (22,260,000) | (19,281,000) |
| Loss before income taxes | (25,809,000) | (23,308,000) |
| Income tax benefit | ||
| Net loss | $ (25,809,000) | $ (23,308,000) |
| Net loss per share - basic and diluted | $ (0.16) | $ (0.14) |
| Weighted average number of common shares outstanding - basic and diluted | 166,066,000 | 166,066,000 |
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Note 13: Supplemental Statement of Cash Flows Information
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12 Months Ended |
|---|---|
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Jun. 30, 2012
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| Notes | |
| Note 13: Supplemental Statement of Cash Flows Information | Note 13: Supplemental Statement of Cash Flows Information
During the year ended June 30, 2012, the Company had the following non-cash investing and financing activities:
· Increased notes payable and current portion of capital lease obligations and decreased accrued expenses by $232,000.
· Decreased common stock and increased accrued expenses by $1,000.
During the year ended June 30, 2011, the Company had the following non-cash investing and financing activities:
· Decreased notes payable and current portion of capital lease obligations and increased accrued expenses by $37,000.
· Increased property and equipment and notes payable and capital lease obligations by $13,000.
Cash paid for interest was $47,000 and $113,000 in fiscal years 2012 and 2011, respectively.
No amounts were paid for income taxes in the fiscal years 2012 and 2011. |