Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (3,815,867) $ (3,287,950)
Amortization of intangible asset 1,823 1,823
Depreciation expense 268,355 70,313
Stock-based compensation expense 889,028 980,350
Derivative gains (9,412) (12,587)
Warrant expense 0 11,407
Changes in operating assets and liabilities:    
Decrease (increase) in other assets 362 (50,918)
Decrease in accounts payable and accrued expenses (273,637) (202,398)
Increase in interest payable 500 500
Decrease in deferred lease liability (29,462) (24,221)
Net Cash Used In Operating Activities (2,968,310) (2,513,681)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (126,956) (576,271)
Return of security deposit 65,933 187,500
Increase in restricted cash 0 (113)
Net Cash Used In Investing Activities (61,023) (388,884)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on lease payable (23,128) (23,109)
Proceeds from issuance of equity financing 2,692,399 0
Payment of placement agent compensation and issuance costs (336,211) 0
Net Cash Provided by (Used in) Financing Activities 2,333,060 (23,109)
Net decrease in cash (696,273) (2,925,674)
Cash - Beginning of Period 4,062,013 5,278,706
Cash - End of Period 3,365,740 2,353,032
Cash Paid During the Period for:    
Taxes 0 0
Interest 0 0
Non-Cash Transactions:    
Fixed assets acquired through accounts payable and accrued expenses $ 59,028 $ 465,252