Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 8,500,207	$ 22,469,960
Prepaid expenses and other current assets	798,094	1,497,911
Total current assets	9,298,301	23,967,871
Fixed assets, net of accumulated depreciation	531,348	23,911
Other assets	414,355	400,825
Total assets	10,244,004	24,392,607
Current liabilities:
Accounts payable	1,259,711	835,285
Accrued expenses	634,853	482,267
Notes payable	273,670	263,752
Derivative liabilities	892,503	14,001,369
Total current liabilities	3,060,737	15,582,673
Other long-term liabilities	140,914
Total liabilities	3,201,651	15,582,673
Commitments and contingencies
Stockholders' equity:
Preferred stock, value
Common stock, $0.001 par value, 100,000,000 shares authorized, 12,035,037 and 10,778,474 shares issued and outstanding, respectively	12,035	10,778
Additional paid-in capital	86,127,252	84,921,327
Accumulated deficit	(79,096,934)	(76,122,243)
Total stockholders' equity	7,042,353	8,809,934
Total liabilities and stockholders' equity	10,244,004	24,392,607
Class A Convertible Preferred Stock
Stockholders' equity:
Preferred stock, value		$ 72

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).