Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net loss $ (3,669,494) $ (3,380,093)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,100 1,405
Stock-based compensation 757,716 152,800
Amortization of deferred financing costs 536,520
Change in fair value of derivative liabilities 318,541
Changes in operating assets and liabilities:    
Other receivable 176,980 7,617
Lease payment receivable 16,980 15,620
Prepaid expenses 143,843 115,983
Accounts payable 342,189 253,918
Accrued expenses (303,465) 306,706
Net cash used in operating activities (2,534,151) (1,670,983)
Cash flows from financing activities    
Principal payments of notes payable (108,279) (84,966)
Proceeds from issuance of common stock 825,749  
Warrants exercised for common stock 450,000  
Units funds received 404,500
Net cash provided by financing activities 1,167,470 319,534
Net decrease in cash and cash equivalents (1,366,681) (1,351,449)
Cash and cash equivalents at beginning of the period 9,216,554 2,238,943
Cash and cash equivalents at end of the period 7,849,873 887,494
Cash paid during the period for:    
Income taxes
Interest $ 2,535 $ 1,509