Financials

v3.8.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2017
Jun. 30, 2017
Current assets:    
Cash and cash equivalents $ 5,939,524 $ 1,710,512
Other receivable 232,597
Lease payments receivable - short term 61,849 59,319
Prepaid expenses 240,446 472,489
Total current assets 6,241,819 2,474,917
Fixed assets, net of accumulated depreciation 3,776 2,315
Other assets 21,961 21,961
Lease payments receivable - long term 306,160 337,730
Total assets 6,573,716 2,836,923
Current liabilities:    
Accounts payable 286,056 529,558
Accrued expenses 494,096 394,558
Note payable 111,235 276,670
Derivative liabilities 3,683,468 175,853
Total current liabilities 4,574,855 1,376,639
Promissory notes payable, net of discount of $6,105,078 and $0 1,277,703
Total liabilities 5,852,558 1,376,639
Commitments and contingencies
Stockholders' equity:    
Preferred stock value
Common stock, $0.001 par value, 100,000,000 shares authorized, 12,545,120 and 12,528,374 shares issued and outstanding, respectively 12,545 12,528
Additional paid-in capital 88,501,104 86,831,211
Accumulated deficit (87,792,491) (85,383,455)
Total stockholders' equity 721,158 1,460,284
Total liabilities and stockholders' equity 6,573,716 2,836,923
Class A Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock value
Total stockholders' equity

Source

v3.8.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Operating expenses:        
Research and development $ 150,720 $ 254,105 $ 316,470 $ 618,257
General and administrative 1,305,865 1,282,296 2,120,971 2,534,740
Total Operating Expenses 1,456,585 1,536,401 2,437,441 3,152,997
Loss from Operations (1,456,585) (1,536,401) (2,437,441) (3,152,997)
Other income (expenses):        
Change in fair value of derivative liabilities 341,106 449,041 335,404 368,998
Interest income (expense), net (311,871) (378) (309,349) (1,229)
Other income   56,909 2,350 113,818
Total other income (expenses) 29,235 505,572 28,405 481,587
Net loss $ (1,427,350) $ (1,030,829) $ (2,409,036) $ (2,671,410)
Loss per common share - basic $ (0.11) $ (0.09) $ (0.19) $ (0.22)
Loss per common share - diluted $ (0.11) $ (0.09) $ (0.19) $ (0.22)
Weighted average number of common shares outstanding - basic and diluted 12,547,176 12,035,912 12,540,208 12,035,625

Source

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities    
Net loss $ (2,409,036) $ (2,671,410)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,130 43,744
Stock-based compensation 202,908 304,024
Change in fair value of derivative liabilities (335,404) (368,998)
Amortization of debt discount 207,781
Deferred rent liability (3,836)
Changes in operating assets and liabilities:    
Other receivable 232,597
Lease payment receivable 29,040
Prepaid expenses and other current assets 232,043 216,309
Accounts payable (321,995) (952,476)
Accrued expenses 50,274 (162,373)
Net cash provided by (used in) operating activities (2,110,662) (3,595,016)
Cash flows from investing activities    
Purchase of fixed assets (2,591) (27,261)
Net cash used in investing activities (2,591) (27,261)
Cash flows from financing activities    
Proceeds from promissory notes and warrants, net of fees 6,507,700
Principal payments of note payable (165,435) (163,637)
Net cash provided by (used in) financing activities 6,342,265 (163,637)
Net increase (decrease) in cash and cash equivalents 4,229,012 (3,785,914)
Cash and cash equivalents at beginning of the period 1,710,512 8,500,207
Cash and cash equivalents at end of the period 5,939,524 4,714,293
Cash paid during the period for:    
Income taxes
Interest 2,131 2,227
Non-cash investing and financing transactions:    
Issuances of common stock resulting from cashless exercise of warrants 17
Warrants issued to placement agent 200,658
Warrants issued to promissory note holders 1,266,344
Derivative liabilities associated with issuance of promissory notes 3,843,019
Accrued financing fees $ 127,757

Source