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Transition Period Comparable Information (Unaudited) | 12 Months Ended
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Jun. 30, 2015
Transition Period Comparable Information (Unaudited) [Abstract] |
TRANSITION PERIOD COMPARABLE INFORMATION (UNAUDITED) | NOTE 10 - TRANSITION PERIOD COMPARABLE INFORMATION (UNAUDITED) The Company changed from a calendar year end to a fiscal year end for the period from January 1, 2014 to June 30, 2014. The Statements of Operations reflect a six month reporting period. For comparison purposes, we have disclosed twelve months of operations for the transition period and such information is used for the Management and Discussion Analysis. The following table presents certain unaudited financial information for the twelve months ended June 30, 2015 and 2014 and for the six months ended June 30, 2014 and 2013.
|  | For the Twelve Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2014 |  |  | 2013 |
|  | (Unaudited) |  |  | (Unaudited) |
Statement of Operations Data: |  |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  | $ | (7,872,397 | ) |  | $ | (5,380,077 | ) |  | $ | (839,959 | ) |  | $ | (708,551 | )
General and administrative |  |  | (9,226,883 | ) |  |  | (13,103,764 | ) |  |  | (12,106,859 | ) |  |  | (528,352 | )
Total operating expenses |  |  | (17,099,280 | ) |  |  | (18,483,841 | ) |  |  | (12,946,818 | ) |  |  | (1,236,903 | )
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other (expenses) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on change in fair value of derivative liabilities |  |  | (3,710,277 | ) |  |  | (8,971,343 | ) |  |  | (7,954,970 | ) |  |  | (11,861,302 | )
Interest income |  |  | 10,883 |  |  |  | 1,411 |  |  |  | 1,411 |  |  |  | - |
Interest expense |  |  | (4,922 | ) |  |  | (614,251 | ) |  |  | (435,611 | ) |  |  | (41,667 | )
Total other expenses |  |  | (3,704,316 | ) |  |  | (9,584,183 | ) |  |  | (8,389,170 | ) |  |  | (11,902,969 | )
Net loss |  | $ | (20,803,596 | ) |  | $ | (28,068,024 | ) |  | $ | (21,335,988 | ) |  | $ | (13,139,872 | )
Net loss per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- basic and diluted |  | $ | (2.09 | ) |  | $ | (18.89 | ) |  | $ | (8.65 | ) |  | $ | (27.35 | )
Weighted average common shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- basic and diluted |  |  | 9,941,156 |  |  |  | 1,486,126 |  |  |  | 2,466,466 |  |  |  | 480,477 |
Statements of Cash Flows Data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash used in operations |  | $ | (16,226,728 | ) |  | $ | (7,213,709 | ) |  | $ | (2,164,254 | ) |  | $ | (992,190 | )
Net cash used in investing activities |  |  | (23,326 | ) |  |  | (11,740 | ) |  |  | (3,673 | ) |  |  | - |
Net cash provided by financing activities |  |  | 13,155,663 |  |  |  | 31,230,072 |  |  |  | 24,209,828 |  |  |  | 779,096 |
Increase (decrease) in cash and cash equivalents |  | $ | (3,094,391 | ) |  | $ | 24,004,623 |  |  | $ | 22,041,901 |  |  | $ | (213,094 | )

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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