Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (17,371,037) $ (14,088,396)
Amortization of intangible asset 5,469 5,469
Amortization of debt discount 31,697 0
Depreciation expense 800,174 829,258
Stock-based compensation expense 4,175,493 3,537,963
Derivative gains (7,985) (11,517)
Warrant expense 543,507 0
Changes in operating assets and liabilities:    
Decrease (increase) in other assets 74,205 (233,676)
Decrease in deferred lease asset 17,626 0
Increase in accounts payable and accrued expenses 1,556,303 381,676
Increase (decrease) in interest payable 20,252 (2,800)
Decrease in deferred lease liability (75,807) (85,802)
Net Cash Used In Operating Activities (10,230,103) (9,667,825)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (5,816) (300,302)
Return of security deposit 187,500 187,500
Net Cash Provided by (Used In) Investing Activities 181,684 (112,802)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on lease payable 0 (23,128)
Proceeds on convertible notes payable 1,200,000 0
Proceeds from issuance of equity financing 4,500,000 10,861,499
Payment of placement agent compensation and issuance costs (60,000) (683,194)
Net Cash Provided by Financing Activities 5,640,000 10,155,177
Net (decrease) increase in cash (4,408,419) 374,550
Cash - Beginning of Period 4,486,538 4,062,013
Cash - End of Period 78,119 4,436,563
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 5,400
Warrant value recorded as issuance costs 0 516,550
Warrant value recorded as debt discount 217,000 0
Embedded derivative value recorded as debt discount 100,000 0
Conversion of note payable into common stock 0 50,000
Conversion of interest payable into common stock 0 9,517
Fair value of warrant modifications recorded as a deemed dividend $ 0 $ 3,366,070