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Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2018 | Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES: |  |
Net loss | $ (6,188,810) | $ (2,836,453)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Stock-based compensation | 2,468,645 | 1,787,558
Loss from equity investment in Peak Gold, LLC | 2,580,000 |
Changes in operating assets and liabilities: |  |
Decrease/(increase) in prepaid expenses | 20,120 | (117,626)
Increase in accounts payable and other accrued liabilities | 118,985 | 23,681
Net cash used in operating activities | (1,001,060) | (1,142,840)
CASH FLOWS FROM INVESTING ACTIVITIES: |  |
Cash invested in Peak Gold, LLC | (2,580,000) |
Net cash used by investing activities | (2,580,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |
Cash paid for shares withheld from employees for payroll tax withholding |  | (207,400)
Cash from warrant exercises and capital raise, net | 12,200,116 | 5,287,500
Net cash provided by financing activities | 12,200,116 | 5,080,100
NET INCREASE IN CASH AND CASH EQUIVALENTS | 8,619,056 | 3,937,260
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 5,191,749 | 1,254,489
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 13,810,805 | $ 5,191,749

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