Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Jun. 30, 2016
Current assets    
Cash $ 3,365,740 $ 4,062,013
Other current assets 363,799 430,094
Total current assets 3,729,539 4,492,107
Non-current assets    
Fixed assets, net 5,902,299 5,984,670
Intangibile assets, net 49,791 51,614
Deposit 375,000 375,000
Total non-current assets 6,327,090 6,411,284
Total Assets 10,056,629 10,903,391
Current liabilities:    
Accounts payable and accrued expenses 1,286,041 1,500,650
Convertible notes payable 60,000 60,000
Deferred lease liability, current portion 122,451 119,688
Lease payable 0 23,128
Interest payable 15,579 15,079
Warrant derivative liability 2,543 11,955
Total current liabilities 1,486,614 1,730,500
Non-current liabilities:    
Deferred lease liability, less current portion 367,813 400,038
Total non-current liabilities 367,813 400,038
Total Liabilities 1,854,427 2,130,538
Commitments and Contingencies (Note 11)
Stockholders' equity:    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized; 37,558,552 and 35,110,916 shares issued and outstanding, September 30, 2016 and June 30, 2016 37,561 35,114
Additional paid-in capital 56,025,338 52,782,569
Accumulated deficit (47,860,697) (44,044,830)
Total stockholders' equity 8,202,202 8,772,853
Total Liabilities and Stockholders' Equity $ 10,056,629 $ 10,903,391