Transition Period Comparable Information (Unaudited)

12 Months Ended

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	)