ECO Building Products, Inc.

CIK:0001409885|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net sales	$ 486,313	$ 445,980
Cost of sales	244,012	850,714
Gross profit (loss)	242,301	(404,734)
Operating expenses:
Research and development	288,565	275,170
Marketing	15,703	75,431
Compensation expenses	522,770	765,955
Rent- facilities	65,885	67,985
Professional fee	654,422	295,485
Other general and administrative expenses	327,727	572,277
Total operating expenses	1,875,072	2,052,303
Loss from operations	(1,632,771)	(2,457,037)
Other income (expense):
Interest and debt discount amortization expense	(1,760,238)	(1,013,737)
Gain (loss) on derivative liability	(5,462,758)	(21,508,826)
Derivative expense	(1,316,463)	(1,950,573)
Other expenses	(246,983)	(38,650)
Other income	6,500	9,140
Gain (loss) on settlement of debt		744,587
Loss on disposal of property and equipment	(183,837)	(171,354)
Total other expense, net	(8,963,779)	(23,929,413)
Loss before provision for income taxes	(10,596,550)	(26,386,450)
Income tax provision
Net loss	(10,596,550)	(26,386,450)
Less: preferred stock - deemed dividends	2,531,703	8,829,246
Net loss attributable to common stockholders	$ (13,128,253)	$ (35,215,696)
Earnings per common share
Basic and diluted	$ (0.07)	$ (1.34)
Weighted average common shares outstanding
Basic and diluted	201,404,594	26,313,792

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
Consolidated Statement of Cash Flows - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (10,596,550)	$ (26,386,450)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation expense	115,722	149,925
Amortization of debt discount	959,921	411,060
Derivative expense	1,316,463	1,950,573
Stock Based Compensation		12,466
Financing costs (interest expense)		148,125
Loss (gain) on derivative liability fair value adjustment	5,462,758	21,508,826
Loss (gain) on settlement of debt		(744,587)
Loss on disposal of property and equipment	183,837	171,354
Expense paid on behalf of the Company		9,743
Changes in assets and liabilities:
Accounts receivable	(85,961)	11,895
Inventories	43,909	120,274
Prepaid expenses and other current assets	(3,711)	29,945
Accounts payable	267,879	204,632
Payroll and taxes payable	257,649	103,852
Other payable and accrued expenses	894,282	565,324
Net cash used in operating activities	(1,183,772)	(1,733,043)
Cash flows from investing activities:
Purchase of property and equipment		(174,426)
Employee loans	(51,063)
Net cash used in investing activities	(51,063)	(174,426)
Cash flows from financing activities:
Payments on related party notes		(45,000)
Proceeds from issuances of series D convertible preferred stock		1,097,082
Proceeds from borrowings from convertible notes payable - non-related parties		412,000
Payments on convertible notes payable - non-related parties	692,400
Proceeds from borrowings from notes payable	534,270	817,500
Payments on notes payable		(359,393)
Payments on notes payable - vehicles loan		(9,873)
Net cash used in financing activities	1,226,670	1,912,316
Net increase (decrease) in cash	(8,165)	4,847
Cash - beginning of year	45,153	40,306
Cash - end of year	36,988	45,153
Supplemental disclosure of cash flow information:
Cash paid during the years for: Interest		17,000
Cash paid during the years for: Income taxes	800	800
Supplemental disclosure of non-cash investing and financing activities:
Conversion of notes payable to common shares	209,922
Conversion of Preferred C convertible preferred stock to common shares	336,246	26,245
Original issuance discount (OID)		41,844
Preferred stock - deemed dividends	$ 2,531,704	$ 8,829,246

Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current Assets:
Cash	$ 36,988	$ 45,153
Accounts receivable, net of allowance for bad debt of $1,607 and $1,607	88,111	2,150
Inventories	7,418	51,357
Prepaid expenses		3,000
Other current assets	69,567	11,793
Total current assets	202,084	113,453
Non-current Assets:
Property and equipment, net	82,503	382,128
Total non-current assets	82,503	382,128
Total assets	284,587	495,581
Current Liabilities:
Accounts payable	1,683,000	1,460,959
Payroll and taxes payable	1,933,287	1,675,638
Accrued interest	1,477,621	749,766
Other payables and accrued expenses	407,583	241,156
Derivative liability	43,255,782	37,184,733
Convertible notes, net	1,889,824	1,116,088
Notes payable	2,365,490	1,831,220
Total current liabilities	53,012,587	44,259,560
LIABILITIES RELATED TO DISCONTINUED OPERATIONS
Net liabilities related to discontinued operations	1,148,229	1,148,229
Total liabilities	60,659,906	45,407,789
Commitments and Contingencies
Mezzanine
Dividends payable on preferred stock	6,499,090	3,967,386
Redeemable Preferred stock	13,828,524	14,164,547
Total mezzanine	20,327,344	18,131,933
Stockholder's Deficit:
Common stock, $0.001 par value, 10,000,000,000 shares authorized, 1,357,257,232 and 37,564,120 shares issued and outstanding at June 30, 2017 and 2016, respectively	1,357,260	37,564
Treasury stock	(1,434)	(1,434)
Additional paid-in capital	36,300,115	38,182,693
Accumulated deficit	(111,859,514)	(101,262,964)
Total stockholder's deficit	(74,203,573)	(63,044,141)
Total liabilities and stockholder's deficit	284,587	495,581
Series C Preferred Stock [Member]
Mezzanine
Dividends payable on preferred stock	5,677,162	3,597,929
Preferred stock, value	11,314,529	11,650,822
Redeemable Preferred stock		15,248,751
Series D Preferred Stock [Member]
Mezzanine
Dividends payable on preferred stock	821,881	369,457
Preferred stock, value	$ 2,513,725	2,513,725
Redeemable Preferred stock		$ 2,883,182