Financials

v3.7.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Jun. 30, 2016
Current assets:    
Cash and cash equivalents $ 2,756,608 $ 8,500,207
Prepaid expenses 486,903 798,094
Total current assets 3,243,511 9,298,301
Fixed assets, net 511,824 531,348
Other assets 415,004 414,355
Total assets 4,170,339 10,244,004
Current liabilities:    
Accounts payable 335,431 1,259,711
Accrued expenses 586,442 634,853
Notes payable 27,583 273,670
Derivative liabilities 279,430 892,503
Total current liabilities 1,228,886 3,060,737
Other long-term liabilities 139,421 140,914
Total liabilities 1,368,307 3,201,651
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, 200,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 12,039,912 and 12,035,037 shares issued and outstanding, respectively 12,039 12,035
Additional paid-in capital 86,539,831 86,127,252
Accumulated deficit (83,749,838) (79,096,934)
Total stockholders' equity 2,802,032 7,042,353
Total liabilities and stockholders' equity 4,170,339 10,244,004
Class A convertible preferred stock    
Stockholders' equity:    
Preferred stock, $0.001 par value, 200,000,000 shares authorized, no shares issued or outstanding

Source

v3.7.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Operating expenses:        
Research and development $ 490,691 $ 609,121 $ 1,108,948 $ 5,592,911
General and administrative 1,792,261 2,137,967 4,327,001 7,520,189
Total operating expenses 2,282,952 2,747,088 5,435,949 13,113,100
Loss from operations (2,282,952) (2,747,088) (5,435,949) (13,113,100)
Other income (expenses):        
Change in fair value of derivative liabilities 244,075 831,971 613,073 13,387,290
Net interest income (expense) 473 778 (756) (149)
Other income 56,910 54,559 170,728 68,659
Total other income (expenses) 301,458 887,308 783,045 13,455,800
Net (loss) income $ (1,981,494) $ (1,859,780) $ (4,652,904) $ 342,700
Net (loss) income per common share - basic $ (0.16) $ (0.15) $ (0.39) $ 0.03
Net (loss) income per common share - diluted $ (0.16) $ (0.15) $ (0.39) $ 0.03
Weighted average common shares outstanding:        
Basic 12,035,912 12,003,789 12,035,720 11,457,789
Diluted 12,035,912 12,003,789 12,035,720 12,137,518

Source

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net (loss) income $ (4,652,904) $ 342,700
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation expense 67,012 33,478
Common stock issued for services 204,534
Stock-based compensation 412,583 847,757
Change in fair value of derivative liabilities (613,073) (13,387,290)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 310,542 1,059,300
Accounts payable (924,280) (91,125)
Accrued expenses (48,411) 563,426
Other long-term liabilities (1,493) 108,985
Net cash used in operating activities (5,450,024) (10,318,235)
Cash flows from investing activities    
Purchase of fixed assets (47,488) (539,213)
Net cash used in investing activities (47,488) (539,213)
Cash flows from financing activities    
Principal payments of note payable (246,087) (263,752)
Net cash used in financing activities (246,087) (263,752)
Net decrease in cash and cash equivalents (5,743,599) (11,121,200)
Cash and cash equivalents at beginning of the period 8,500,207 22,469,960
Cash and cash equivalents at end of the period 2,756,608 11,348,760
Cash paid during the period for:    
Income taxes
Interest 2,651 2,655
Non-cash investing and financing transactions:    
Financing of insurance premiums by issuance of note payable 263,752
Conversion of Class A convertible preferred stock to common stock 72
Issuances of common stock resulting from cashless exercise of warrants $ 1,094

Source