Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (12,403,200) $ (8,703,797)
Amortization of intangible asset 3,646 3,646
Depreciation expense 533,394 546,429
Stock-based compensation expense 2,701,728 2,125,966
Derivative gains (498) (10,725)
Warrant expense for consulting services 535,303 0
Changes in operating assets and liabilities:    
Decrease in other assets 146,287 29,153
Decrease in deferred lease asset 11,462 0
Increase in accounts payable and accrued expenses 469,177 12,097
Decrease in interest payable 0 (2,800)
Decrease in deferred lease liability (49,950) (58,924)
Net Cash Used In Operating Activities (8,052,651) (6,058,955)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (5,816) (272,587)
Return of security deposit 0 187,500
Net Cash Used In Investing Activities (5,816) (85,087)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on lease payable 0 (23,128)
Proceeds from issuance of equity financing 4,500,000 6,361,499
Payment of placement agent compensation and issuance costs (60,000) (683,194)
Net Cash Provided by Financing Activities 4,440,000 5,655,177
Net decrease in cash (3,618,467) (488,865)
Cash - Beginning of Period 4,486,538 4,062,013
Cash - End of Period 868,071 3,573,148
Cash Paid During the Period for:    
Taxes 0 0
Interest 0 0
Non-Cash Transactions:    
Fixed assets acquired through accounts payable and accrued expenses 0 18,016
Warrant value recorded as issuance costs 0 516,550
Conversion of note payable into common stock 0 50,000
Conversion of interest payable into common stock $ 0 $ 9,517