Financials

v3.8.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Jun. 30, 2017
Current assets:    
Cash and cash equivalents $ 4,257,626 $ 1,710,512
Other receivable 232,597
Lease payments receivable - short term 63,153 59,319
Prepaid expenses 160,279 472,489
Total current assets 4,481,058 2,474,917
Fixed assets, net of accumulated depreciation 3,208 2,315
Other assets 21,599 21,961
Lease payments receivable - long term 289,874 337,730
Total assets 4,795,739 2,836,923
Current liabilities:    
Accounts payable 1,091,582 529,558
Accrued expenses 458,584 394,558
Note payable 27,880 276,670
Derivative liabilities 3,957,406 175,853
Total current liabilities 5,535,452 1,376,639
Promissory notes payable, net of discount of $5,628,720 and $0 1,576,280
Total liabilities 7,111,732 1,376,639
Commitments and contingencies
Stockholders' (deficit) equity:    
Common stock, $0.001 par value, 100,000,000 shares authorized, 12,548,870 and 12,528,374 shares issued and outstanding, respectively 12,548 12,528
Additional paid-in capital 88,665,834 86,831,211
Accumulated deficit (90,994,375) (85,383,455)
Total stockholders' (deficit) equity (2,315,993) 1,460,284
Total liabilities and stockholders' (deficit) equity 4,795,739 2,836,923
Class A convertible preferred stock [Member]    
Stockholders' (deficit) equity:    
Preferred stock value
Total stockholders' (deficit) equity

Source

v3.8.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Operating expenses:        
Research and development $ 1,666,902 $ 490,691 $ 1,983,372 $ 1,108,948
General and administrative 883,009 1,792,261 3,003,980 4,327,001
Total Operating Expenses 2,549,911 2,282,952 4,987,352 5,435,949
Loss from Operations (2,549,911) (2,282,952) (4,987,352) (5,435,949)
Other income (expenses):        
Change in fair value of derivative liabilities (254,862) 244,075 80,542 613,073
Interest (expense) income, net (397,111) 473 (706,460) (756)
Other income 56,910 2,350 170,728
Total other (expense) income (651,973) 301,458 (623,568) 783,045
Net loss $ (3,201,884) $ (1,981,494) $ (5,610,920) $ (4,652,904)
Loss per common share - basic and diluted $ (0.26) $ (0.16) $ (0.45) $ (0.39)
Weighted average number of common shares outstanding - basic and diluted 12,547,620 12,035,912 12,542,678 12,035,720

Source

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net loss $ (5,610,920) $ (4,652,904)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,698 67,012
Stock-based compensation 365,173 412,583
Change in fair value of derivative liabilities (80,542) (613,073)
Amortization of debt discount 501,203
Changes in operating assets and liabilities:    
Other receivable 232,597
Lease payment receivable 44,022
Prepaid expenses and other assets 312,572 310,542
Accounts payable 483,531 (924,280)
Accrued expenses 14,761 (48,411)
Other long-term liabilities (1,493)
Net cash used in operating activities (3,735,905) (5,450,024)
Cash flows from investing activities    
Purchase of fixed assets (2,591) (47,488)
Net cash used in investing activities (2,591) (47,488)
Cash flows from financing activities    
Proceeds from promissory notes and warrants, net of fees 6,534,400
Principal payments of note payable (248,790) (246,087)
Net cash provided by (used in) financing activities 6,285,610 (246,087)
Net increase (decrease) in cash and cash equivalents 2,547,114 (5,743,599)
Cash and cash equivalents at beginning of the period 1,710,512 8,500,207
Cash and cash equivalents at end of the period 4,257,626 2,756,608
Cash paid during the period for:    
Income taxes
Interest 2,738 2,651
Non-cash investing and financing transactions:    
Warrants issued to promissory note holders 1,268,813
Warrants issued to placement agent 200,658
Derivative liabilities associated with issuance of promissory notes 3,862,095
Financing fees in accounts payable and accrued expenses 127,757
Issuances of common stock resulting from cashless exercise of warrants 17
Issuance of vested shares of restricted stock $ 38

Source