PACIFIC SANDS INC

CIK:0001069799|SEC Filings

Statements Of Operations - USD ($)	3 Months Ended		6 Months Ended
Statements Of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statements Of Operations
Net sales	$ 166,430	$ 831,677	$ 393,939	$ 1,317,722
Cost of sales	95,176	500,173	272,007	801,536
Gross profit	71,254	331,504	121,932	516,186
Selling and administrative expenses	234,473	447,623	515,351	1,041,086
Loss from operations	(163,219)	(116,119)	(393,419)	(524,900)
Other income
Other income	5,564	727	6,586	1,270
Gain (loss) on derivative liability	72,430	(12,776)	11,304	8,101
Interest expense	(184,833)	(90,167)	(300,790)	(159,598)
Loss before income taxes	$ (270,058)	$ (218,335)	$ (676,319)	$ (675,127)
Income taxes
Net loss	$ (270,058)	$ (218,335)	$ (676,319)	$ (675,127)
Loss per share: Basic	$ (0.01)	$ 0.00	$ (0.01)	$ (0.01)
Loss per share: Diluted	$ (0.01)	$ 0.00	$ (0.01)	$ (0.01)
Weighted average shares outstanding: Basic	112,180,008	71,973,054	101,271,265	71,239,631
Weighted average shares outstanding: Diluted	112,180,008	71,973,054	101,271,265	71,239,631

Statements Of Cash Flows - USD ($)	6 Months Ended
Statements Of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (676,319)	$ (675,127)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities -
Depreciation and amortization	37,875	35,540
Accretion of debt discount	192,141	71,823
Stock options		63,478
Common shares issued for interest		45,333
Common shares issued for services	161,457	99,722
Deferred rent		(8,800)
(Gain) loss on derivative	(11,304)	(8,101)
Changes in assets and liabilities -
Change in trade accounts receivable	92,978	162,476
Change in inventories	56,732	(11,201)
Change in other assets	(13,881)	(11,883)
Change in customer deposits	50,000	20,000
Change in accounts payable and other current liabilities	69,194	92,769
Net Cash Used in Operating Activities	(41,127)	(123,971)
Cash flows from investing activities:
Purchases of equipment	(7,020)	(10,316)
Prepaid brand development and other costs		(96,720)
Net Cash Used in Investing Activities	(7,020)	(107,036)
Cash flows from financing activities:
Convertible notes payable	99,000	70,000
Proceeds from notes payable	270,000	159,640
Repayment of notes payable and long term obligations	(335,059)	(249,331)
Net Cash Provided by (Used in) Financing Activities	33,941	(19,691)
Net decrease in cash and cash equivalents	(14,206)	(250,698)
Cash and cash equivalents:
Beginning of period	30,908	266,190
End of period	16,702	15,492
Cash paid during the period for:
Cash paid for interest	$ 70,242	$ 48,201
Cash paid for income taxes
Supplemental disclosure of non-cash financing and investing activities
Conversion of debt and embedded derivative liability to equity	$ 235,045	$ 88,280
Capital lease for equipment	$ 37,619	$ 72,453

Balance Sheets - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 16,702	$ 30,908
Trade receivables, net of allowances for doubtful accounts of $5,000	28,116	121,094
Inventories	202,185	258,917
Other current assets	62,939	48,705
Total Current Assets	309,942	459,624
Property and equipment, net	170,856	201,711
Other Assets	1,762	2,115
Total Assets	482,560	663,451
Current liabilities:
Accounts payable	541,671	439,597
Customer deposits	50,000
Accrued expenses	117,608	150,486
Current portion of notes payable and capital leases	511,835	533,929
Convertible notes, less discount of $79,609 and $55,790	104,808	17,708
Embedded conversion derivative liability	216,361	276,377
Total Current Liabilities	1,542,283	1,418,097
Notes payable, less current portion	57,470	88,375
Total Liabilities	$ 1,599,753	$ 1,506,472
Stockholders' deficit
Preferred series A stock (1,000,000 shares authorized, 0 shares issued and outstanding)
Common stock (400,000,000 shares authorized, 184,182,008 and 89,811,292 shares issued and outstanding.)	$ 184,181	$ 89,811
Additional paid in capital	6,522,155	6,214,378
Accumulated deficit	(7,823,529)	(7,147,210)
Total Stockholders' Equity	(1,117,193)	(843,021)
Total Liabilities and Stockholders' Equity	$ 482,560	$ 663,451