Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (7,353,847) $ (5,150,260)
Amortization of intangible asset 3,646 1,609
Depreciation expense 220,537 57,908
Stock-based compensation expense 1,965,993 1,155,521
Stock issued for services 0 298,418
Derivative gains (14,316) (153,714)
Warrant expense 21,092 84,558
Changes in operating assets and liabilities:    
Decrease in other assets 65,738 230,101
Increase in accounts payable and accrued expenses 295,965 398,317
Decrease in accounts payable and accrued expenses - related party 0 (208,962)
Increase in interest payable 1,000 1,000
(Decrease) increase in deferred lease liability (4,098) 77,351
Net Cash Used In Operating Activities (4,798,290) (3,208,153)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (1,257,542) (266,044)
Acquisition of intangibles 0 (55,000)
Return of security deposit 187,500 0
Decrease in restricted cash 450,167 0
Net Cash Used In Investing Activities (619,875) (321,044)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on lease payable (46,453) (22,383)
Proceeds from issuance of equity financing 0 6,925,543
Proceeds from issuance of preferred stock 2,000,115 0
Payment of placement agent compensation and issuance costs (105,715) (718,554)
Net Cash Provided by Financing Activities 1,847,947 6,184,606
Net (decrease) increase in cash (3,570,218) 2,655,409
Cash - Beginning of Period 5,278,706 5,934,534
Cash - End of Period 1,708,488 8,589,943
Cash Paid During the Period for:    
Taxes 0 0
Interest 0 0
Non-Cash Transactions:    
Warrant value recorded as issuance costs 90,852 1,180,995
Lease Payable    
Non-Cash Transactions:    
Fixed assets acquired 0 184,877
Tenant Improvements    
Non-Cash Transactions:    
Fixed assets acquired 0 430,830
Accounts payable and Accrued expenses    
Non-Cash Transactions:    
Fixed assets acquired $ 511,563 $ 16,072