Financials

v3.6.0.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2016
Jun. 30, 2016
Current assets:    
Cash and cash equivalents $ 4,714,293 $ 8,500,207
Other receivables 2,350
Prepaid expenses 578,979 798,094
Total current assets 5,295,622 9,298,301
Fixed assets, net 514,865 531,348
Other assets 414,811 414,355
Total assets 6,225,298 10,244,004
Current liabilities:    
Accounts payable 307,235 1,259,711
Accrued expenses 472,480 634,853
Notes payable 110,033 273,670
Derivative liabilities 523,505 892,503
Total current liabilities 1,413,253 3,060,737
Other long-term liabilities 137,078 140,914
Total liabilities 1,550,331 3,201,651
Commitments and contingencies
Stockholders' equity:    
Preferred stock value
Common stock, $0.001 par value,100,000,000 shares authorized, 12,035,912 and 12,035,037 shares issued and outstanding, respectively 12,036 12,035
Additional paid-in capital 86,431,275 86,127,252
Accumulated deficit (81,768,344) (79,096,934)
Total stockholders' equity 4,674,967 7,042,353
Total liabilities and stockholders' equity 6,225,298 10,244,004
Class A convertible preferred stock    
Stockholders' equity:    
Preferred stock value

Source

v3.6.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Operating expenses:        
Research and development $ 254,105 $ 2,118,204 $ 618,257 $ 4,983,790
General and administrative 1,282,296 3,604,109 2,534,740 5,368,122
Total Operating Expenses 1,536,401 5,722,313 3,152,997 10,351,912
Loss from Operations (1,536,401) (5,722,313) (3,152,997) (10,351,912)
Other income (expenses):        
Change in fair value of derivative liabilities 449,041 3,261,980 368,998 12,555,319
Net interest (expense) (378) (329) (1,229) (927)
Other income 56,909 113,818
Total other income (expenses) 505,572 3,261,651 481,587 12,554,392
Net (Loss) Income $ (1,030,829) $ (2,460,662) $ (2,671,410) $ 2,202,480
Net (Loss) Income per common share - basic $ (0.09) $ (0.22) $ (0.22) $ 0.2
Net (Loss) Income per common share - diluted $ (0.09) $ (0.22) $ (0.22) $ 0.19
Weighted Average Number of Shares Outstanding, Basic [Abstract]        
Basic 12,035,912 11,420,179 12,035,625 11,184,064
Diluted 12,035,912 11,420,179 12,035,625 11,856,985

Source

v3.6.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net (loss) income $ (2,671,410) $ 2,202,480
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation expense 43,744 5,908
Common stock issued for services 180,870
Stock-based compensation 304,024 571,214
Change in fair value of derivative liabilities (368,998) (12,555,319)
Deferred rent liability (3,836) 54,830
Changes in operating assets and liabilities:    
Prepaid expenses, other current assets and other assets 216,309 957,806
Accounts payable (952,476) 810,803
Accrued expenses (162,373) 1,080,409
Net cash used in operating activities (3,595,016) (6,690,999)
Cash flows from investing activities    
Purchase of fixed assets (27,261) (476,105)
Net cash used in investing activities (27,261) (476,105)
Cash flows from financing activities    
Principal payments of note payable (163,637) (175,219)
Net cash used in financing activities (163,637) (175,219)
Net decrease in cash and cash equivalents (3,785,914) (7,342,323)
Cash and cash equivalents at beginning of the period 8,500,207 22,469,960
Cash and cash equivalents at end of the period 4,714,293 15,127,637
Cash paid during the period for:    
Income taxes
Interest 2,227 2,814
Non-cash investing and financing transactions:    
Payable incurred for purchases of fixed assets 41,632
Conversion of Class A convertible preferred stock to common stock 72
Issuances of common stock resulting from cashless exercise of warrants $ 1,094

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