Stockholders' Equity (Tables)

6 Months Ended

Dec. 31, 2018

Summary of Reconciliation of Warrants to Purchase Common Stock

The following table provides a reconciliation of fixed price warrants to purchase Common Stock for the six months ended December 31, 2018 and for the years ended June 30, 2018 and 2017, which table excludes the Second Tranche Warrants that were subject to a variable exercise price:

	Six Months Ended December 31,				Year Ended June 30,
	2018				2018					2017
	Number of Warrants		Weighted Average Exercise Price		Number of Warrants			Weighted Average Exercise Price		Number of Warrants		Weighted Average Exercise Price
Balance at beginning of period		486,812	$	1.23		623,605		$	2.50		623,605	$	2.50
Issued		—		—		486,812			1.23		—		—
Expired		—		—		(623,605	)		2.50		—		—
Balance and exercisable at end of period		486,812	$	1.23		486,812		$	1.23		623,605	$	2.50

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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