Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net loss $ (3,380,093) $ (981,686)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,405 548
Stock-based compensation 152,800 68,870
Amortization of deferred financing costs 536,520 2,819
Change in fair value of derivative liabilities 318,541 5,702
Changes in operating assets and liabilities:    
Other receivable 7,617 81,980
Lease payment receivable 15,620 14,368
Prepaid expenses 115,983 103,112
Accounts payable 253,918 (232,510)
Accrued expenses 306,706 (42,251)
Net cash used in operating activities (1,670,983) (979,048)
Cash flows from investing activities    
Purchase of fixed assets (2,591)
Net cash used in investing activities (2,591)
Cash flows from financing activities    
Proceeds from promissory notes and warrants, net of fees 4,038,200
Principal payments of notes payable (84,966) (82,506)
Units funds received 404,500
Net cash provided by financing activities 319,534 3,955,694
Net (decrease) increase in cash and cash equivalents (1,351,449) 2,974,055
Cash and cash equivalents at beginning of the period 2,238,943 1,710,512
Cash and cash equivalents at end of the period 887,494 4,684,567
Cash paid during the period for:    
Income taxes
Interest 1,509 1,969
Non-cash investing and financing transactions:    
Issuances of common stock resulting from cashless exercise of warrants 17
Warrants issued to placement agent 75,577
Warrants issued to promissory note holders 841,617
Derivative associated with issuance of promissory notes 2,336,456
Debt issuance cost from accrued financing fees $ 108,494