Financials

v3.19.3
Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Current assets:    
Cash and cash equivalents $ 7,849,873 $ 9,216,554
Other receivable 176,980
Lease payments receivable - short-term 71,581 70,102
Prepaid expenses 376,902 520,745
Total current assets 8,298,356 9,984,381
Fixed assets, net of accumulated depreciation 6,110 7,210
Other assets 25,000 25,000
Lease payments receivable - long-term 184,683 203,142
Total assets 8,514,149 10,219,733
Current liabilities:    
Accounts payable 1,266,548 924,359
Accrued expenses 1,014,390 1,317,855
Notes payable 255,925 364,204
Total liabilities 2,536,863 2,606,418
Commitments and contingencies
Stockholders' equity:    
Preferred stock value
Common stock, $0.001 par value, 50,000,000 shares authorized, 9,937,608 and 9,744,643 shares issued and outstanding, respectively 9,937 9,744
Additional paid-in capital 121,299,210 119,265,938
Accumulated deficit (115,331,861) (111,662,367)
Total stockholders' equity (deficit) 5,977,286 7,613,315
Total liabilities and stockholders' equity (deficit) 8,514,149 10,219,733
Class A convertible preferred stock    
Stockholders' equity:    
Preferred stock value

Source

v3.19.3
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating expenses:    
Research and development $ 1,887,367 $ 1,421,482
General and administrative 1,820,043 989,748
Total operating expenses 3,707,410 2,411,230
Loss from operations (3,707,410) (2,411,230)
Other income (expenses):    
Change in fair value of derivative liabilities (318,541)
Interest income (expense), net 37,916 (650,322)
Total other income (expenses) 37,916 (968,863)
Net loss $ (3,669,494) $ (3,380,093)
Net loss per common share - basic and diluted $ (0.38) $ (1.08)
Weighted average number of common shares outstanding - basic and diluted 9,761,188 3,137,468

Source

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

Source