Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (11,064,682) $ (8,322,900)
Amortization of intangible asset 5,469 3,432
Depreciation expense 476,941 91,021
Stock-based compensation expense 2,877,628 1,864,226
Stock issued for services 0 298,418
Derivative (gains) losses (20,098) 717,733
Warrant expense 62,941 84,558
Forgiveness of accounts payable and accrued expenses - related party 0 132,339
Changes in operating assets and liabilities:    
(Decrease) increase in other assets (93,767) 105,577
Increase in accounts payable and accrued expenses 448,345 380,727
Decrease in accounts payable and accrued expenses - related party 0 (529,394)
Increase in interest payable 1,500 1,500
(Decrease) increase in deferred lease liability (30,868) 57,017
Net Cash Used In Operating Activities (7,336,591) (5,115,746)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (1,774,413) (874,960)
Acquisition of intangibles 0 (55,000)
Return of security deposit 187,500 0
Decrease (increase) in restricted cash 450,167 (450,055)
Net Cash Used In Investing Activities (1,136,746) (1,380,015)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on lease payable (70,033) (45,019)
Proceeds from issuance of equity financing 0 9,761,070
Proceeds from issuance of preferred stock 5,347,615 0
Payment of placement agent compensation and issuance costs (336,929) (930,106)
Net Cash Provided by Financing Activities 4,940,653 8,785,945
Net (decrease) increase in cash (3,532,684) 2,290,184
Cash - Beginning of Period 5,278,706 5,934,534
Cash - End of Period 1,746,022 8,224,718
Cash Paid During the Period for:    
Taxes 0 0
Interest 0 0
Non-Cash Transactions:    
Warrant value recorded as issuance costs 250,163 1,671,618
Warrant derivative liability reclassified as equity 0 2,217,605
Series A Preferred Stock dividend paid in stock 61,279 0
Lease Payable    
Non-Cash Transactions:    
Fixed assets acquired 0 184,877
Tenant Improvements    
Non-Cash Transactions:    
Fixed assets acquired 0 511,616
Accounts payable and Accrued expenses    
Non-Cash Transactions:    
Fixed assets acquired $ 312,229 $ 484,716