Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Jun. 30, 2017
Current assets    
Cash $ 1,645,872 $ 4,486,538
Other current assets 361,915 442,015
Total current assets 2,007,787 4,928,553
Non-current assets    
Fixed assets, net 368,374 5,325,401
Intangible assets, net 37,030 44,322
Deferred lease asset 32,850 86,293
Deposits 56,841 244,341
Total non-current assets 495,095 5,700,357
Total Assets 2,502,882 10,628,910
Current liabilities:    
Accounts payable and accrued expenses 1,706,154 951,239
Accrued payroll 770,976 701,438
Convertible notes payable, net 3,434,611 10,000
Embedded derivative liability 73,904 0
Deferred lease liability, current portion 113,997 105,295
Interest payable 148,372 2,762
Warrant derivative liability 0 588
Total current liabilities 6,248,014 1,771,322
Non-current liabilities:    
Deferred lease liability, less current portion 190,577 304,575
Deposit liability 25,046 25,046
Total non-current liabilities 215,623 329,621
Total Liabilities 6,463,637 2,100,943
Commitments and Contingencies (Note 10)
Shareholders' (deficit) 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; 62,166,309 and 49,228,640 shares issued and outstanding, June 30, 2018 and June 30, 2017 62,168 49,230
Additional paid-in capital 90,160,815 72,800,699
Accumulated deficit (94,183,738) (64,321,962)
Total stockholders' (deficit) equity (3,960,755) 8,527,967
Total Liabilities and Stockholders' (Deficit) Equity $ 2,502,882 $ 10,628,910