Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.8
Consolidated Statements of Operations (USD $)
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating expenses    
Consulting fees $ 579,817 $ 647,925
Compensation and benefits 2,260,598 4,485,064
Research and development 34,317 3,494
Insurance 154,722 101,276
Meals and entertainment 32,562 17,670
Professional fees 724,385 620,162
Rent 134,952 73,256
Travel 106,421 90,048
Amortization and depreciation 11,303 295
Investor relations 661,914 39,031
General and administrative 475,042 28,660
Total operating expenses 5,176,033 6,106,881
Loss from operations (5,176,033) (6,106,881)
Other income (expense)    
Interest income 12,180 106,044
Interest expense (4,230,112) (568,859)
Derivative expense (336,489) (157,761)
Total other income (expense) (4,554,421) (620,576)
Net loss $ (9,730,454) $ (6,727,457)
Net loss per common share - basic $ (1.04) $ (1.08)
Net loss per common share - diluted $ (1.04) $ (1.08)
Weighted average number of common shares outstanding - basic 9,384,662 6,204,568
Weighted average number of common shares outstanding - diluted 9,384,662 6,204,568