Quarterly report pursuant to Section 13 or 15(d)

Stockholders Equity (Tables)

v3.8.0.1
Stockholders Equity (Tables)
3 Months Ended
Sep. 30, 2017
Stockholders' Equity [Abstract]  
Summary of changes in options

    Number 
of 
Options
    Weighted Average Exercise Price For Share     Weighted Average Remaining Contractual Term (Years)     Aggregate Intrinsic 
Value
 
Outstanding and expected to vest at June 30, 2017     559,972     $ 6.41       6.7     $ -  
Forfeited     (56,000 )   $ 8.15       -     $ -  
Outstanding and expected to vest at September 30, 2017     503,972     $ 6.22       6.4     $ -  
Options exercisable at September 30, 2017     412,404     $ 5.86       6.1     $ -  

Summary of the changes in restricted stock

    Number of Shares     Weighted Average Price Per Share  
Outstanding restricted stock awards at June 30, 2017     42,625     $ 14.21  
Forfeited     -     $ -  
Outstanding restricted stock awards at September 30, 2017     42,625     $ 14.21  
Schedule of changes in outstanding warrants

    Number of Shares     Weighted Average Exercise Price Per Share     Weighted Average Remaining Contractual Term (Years)  
Outstanding and vested at June 30, 2017     3,886,866     $ 7.71       2.4  
Granted     3,384,666     $ 1.52       6.9  
Exercised     (16,770 )   $ -       -  
Outstanding and vested at September 30, 2017     7,254,762     $ 4.81       4.4
Summary of Black-Scholes option pricing model assumptions used to determine the fair value of options granted

Risk free interest rate     2.13 %
Dividend yield     0 %
Volatility     85 %
Expected term (in years) (1)     7.00  

 

(1) call option value is calculated as the sum of intrinsic value plus 40% of time value

 

Schedule of stock-based compensation expense
    Three Months Ended September 30,
2017
    Three Months Ended September 30,
2016
 
Research and development   $ 7,100     $ 42,600  
General and administrative     61,800       129,500  
Total   $ 68,900     $ 172,100