Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Jun. 30, 2015
Current assets    
Cash $ 4,062,013 $ 5,278,706
Restricted cash 0 450,167
Other current assets 430,094 387,511
Total current assets 4,492,107 6,116,384
Non-current assets    
Fixed assets, net 5,984,670 4,524,912
Intangible assets, net 51,614 58,906
Deposit 375,000 563,000
Total non-current assets 6,411,284 5,146,818
Total Assets 10,903,391 11,263,202
Current liabilities:    
Accounts payable and accrued expenses 1,500,650 1,408,399
Convertible notes payable 60,000 60,000
Deferred lease liability, current portion 119,688 98,671
Lease payable, current portion 23,128 93,852
Interest payable 15,079 13,079
Warrant derivative liability 11,955 31,777
Total current liabilities 1,730,500 1,705,778
Non-current liabilities:    
Deferred lease liability, less current portion 400,038 480,490
Lease payable, less current portion 0 23,127
Total non-current liabilities 400,038 503,617
Total Liabilities 2,130,538 2,209,395
Commitments and Contingencies (Note 13)
Stockholders' 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; 35,110,916 and 24,338,219 shares issued and outstanding, June 30, 2016 and 2015, respectively 35,114 24,341
Additional paid-in capital 52,782,569 38,138,754
Accumulated deficit (44,044,830) (29,109,288)
Total stockholders' equity 8,772,853 9,053,807
Total Liabilities and Stockholders' Equity $ 10,903,391 $ 11,263,202