ICEWEB INC

CIK:0001097718|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Sales	$ 215,020	$ 223,631	$ 457,493	$ 461,520
Cost of sales	62,058	212,002	160,356	455,774
Gross profit (loss)	152,962	11,629	297,137	5,746
Operating expenses:
Sales and marketing	23,236	41,813	51,310	77,598
Depreciation and amortization	176,534	37,292	186,479	81,091
Technical	51,563	75,493	114,552	191,938
General and administrative	151,928	222,048	530,967	475,831
Total Operating Expenses	403,261	376,646	883,308	826,458
Loss from operations	(250,299)	(365,017)	(586,171)	(820,712)
Other income (expenses):
Gain on sale of assets	10,000	3	10,000	3,628
Gain/(loss) from change of fair value of derivative liability	(446,666)	$ (2,687)	(444,411)	$ 406,903
Gain on extinguishment of debt	46,041		46,041
Interest expense	(238,098)	$ (91,960)	(374,709)	$ (287,394)
Total other income (expenses)	(628,723)	(94,644)	(763,079)	123,137
Net loss	$ (879,022)	$ (459,661)	$ (1,349,250)	$ (697,575)
Loss per common share basic and diluted	$ 0	$ (0.07)	$ 0	$ (0.08)
Weighted average common shares outstanding - basic and diluted	945,888,068	6,257,889	945,463,839	8,639,616

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Cash Flows [Abstract]
NET CASH USED IN OPERATING ACTIVITIES	$ (127,113)	$ (519,751)
CASH FLOWS USED IN INVESTING ACTIVITIES:
Purchase of property and equipment		(10,947)
NET CASH USED IN INVESTING ACTIVITIES		(10,947)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on notes payable	$ (129,990)	$ (275,455)
Payment on convertible note payable	(50,500)
Proceeds from notes payable	195,000
Proceeds from notes payable, related party	66,250	$ 760,489
Proceeds from sale of restricted stock	50,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	130,760	$ 485,034
NET INCREASE (DECREASE) IN CASH	3,647	(45,664)
CASH - beginning of period	21,745	56,827
CASH - end of period	25,392	11,163
Supplemental disclosure of cash flow information:
Cash paid for interest	43,631	33,381
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Conversion of convertible note into common stock	$ 11,635	$ 281,679
Shares issued for acquisition	223,500

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current Assets:
Cash	$ 25,392	$ 21,745
Accounts receivable, net	29,858	19,945
Prepaid expenses	$ 70,441	66,543
Marketable securities		2
Other current assets	$ 6,125	10,208
Total Current Assets	131,816	118,443
Property and equipment, net of accumulated depreciation of $1,172,395 and $1,140,249 respectively	19,316	$ 51,462
Intangible assets, net of accumulated amortization of $174,117	5,049,383
Deposits	5,923	$ 5,923
Other assets	1,545	1,545
Total Assets	5,207,983	177,373
Current Liabilities:
Accounts payable and accrued liabilities	1,516,863	1,043,088
Notes payable, current portion	5,495,738	327,810
Capital lease payable, current portion	1,399,668	886,356
Note payable, related party	1,095,255	1,029,005
Loan payable, related party	635,000	635,000
Deferred revenue	62,604	85,407
Convertible notes payable, net of discount	122,886	115,632
Derivative liability - warrants	621,906	83,766
Derivative liability - embedded conversion option	188,700	346,734
Total Current Liabilities	$ 11,138,620	4,552,798
Capital lease payable, long term portion		517,686
Total Liabilities	$ 11,138,620	5,070,484
Commitments and Contingencies (Note 13)
Stockholders' Deficit:
Series B convertible preferred stock ($.001 par value; 10,000,000 shares authorized; 626,667 shares issued and outstanding)	$ 626	626
Common stock ($.001 par value; 6,000,000,000 shares authorized; 966,928,504 and 912,466,204 shares issued and outstanding, respectively)	966,928	912,466
Additional paid in capital	49,241,951	48,984,686
Accumulated deficit	(56,046,142)	(54,696,891)
Accumulated other comprehensive loss	(81,000)	(80,998)
Treasury stock, at cost, (406 shares)	(13,000)	(13,000)
Total stockholders' deficit	(5,930,637)	(4,893,111)
Total Liabilities and Stockholders' Deficit	$ 5,207,983	$ 177,373