Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Jun. 30, 2016
Current assets    
Cash $ 4,486,538 $ 4,062,013
Other current assets 442,015 430,094
Total current assets 4,928,553 4,492,107
Non-current assets    
Fixed assets, net 5,325,401 5,984,670
Intangible assets, net 44,322 51,614
Deferred lease asset 86,293 0
Deposits 244,341 375,000
Total non-current assets 5,700,357 6,411,284
Total Assets 10,628,910 10,903,391
Current liabilities:    
Accounts payable and accrued expenses 1,652,677 1,500,650
Convertible notes payable 10,000 60,000
Deferred lease liability, current portion 105,295 119,688
Lease payable, current portion 0 23,128
Interest payable 2,762 15,079
Warrant derivative liability 588 11,955
Total current liabilities 1,771,322 1,730,500
Non-current liabilities:    
Deferred lease liability, less current portion 304,575 400,038
Deposit liability 25,046 0
Total non-current liabilities 329,621 400,038
Total Liabilities 2,100,943 2,130,538
Commitments and Contingencies (Note 13)
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; 49,228,640 and 35,110,916 shares issued and outstanding, June 30, 2017 and 2016, respectively 49,230 35,114
Additional paid-in capital 72,800,699 52,782,569
Accumulated deficit (64,321,962) (44,044,830)
Total stockholders' equity 8,527,967 8,772,853
Total Liabilities and Stockholders' Equity $ 10,628,910 $ 10,903,391