XML 28 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net loss $ (28,180,084) $ (7,723,404)
Stock-based compensation expense 902,946 1,017,938
Depreciation, amortization and accretion 874,789 118,202
Asset impairment 7,500,000 0
Amortization of debt issuance costs 182,759 0
Amortization of beneficial conversion feature 4,943,073 0
Noncash interest expense 221,024 0
Derivative expense 12,572 0
Amortization of prepaid research and development - related party (Note 11) 121,983 121,984
Unrecognized loss on investment 971,629 0
Deferred taxes 0 (23,910)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Increase) in accounts receivable (5,369) (157,058)
(Increase) in inventory (485,265) (39,442)
Decrease in prepaid expenses and other 155,330 150,434
(Increase) in prepaid research and development - related party (Note 11) 0 (150,000)
Increase in accounts payable and accrued liabilities 1,623,469 547,314
Increase in accrued compensation 1,004,427 196,503
(Decrease) in payable to Ampio 0 (607,061)
Increase in deferred rent 10,875 0
(Decrease) in deferred revenue (511,607) (85,714)
Net cash used in operating activities (10,657,449) (6,634,214)
Cash flows used in investing activities    
Deposits 1,998 (4,886)
Purchases of fixed assets (252,932) 0
Purchase of ProstaScint Business 0 (1,000,000)
Purchase of Primsol asset (1,040,000)  
Purchase of Natesto license (2,000,000)  
Investment in Acerus (2,012,991)  
Net cash used in investing activities (5,303,925) (1,004,886)
Cash flows from financing activities    
Proceeds from convertible note from Ampio converted to stock 0 7,400,000
Proceeds from convertible promissory notes, net (Note 8) 5,175,000 0
Debt issuance costs (Note 8) (298,322) 0
Costs related to the conversion of the convertible promissory notes to equity (29,754) 0
Ampio stock subscription payment 5,000,000 5,000,000
Luoxis option payout pursuant to the merger 0 (27,476)
Liabilities paid out pursuant to the merger 0 (20,013)
Sale of stock subscription 200,000 0
Proceeds from issuance of equity financing 7,520,493 0
Issuance costs related to equity financing (904,914) 0
Net cash provided by financing activities 16,662,503 12,352,511
Net change in cash and cash equivalents 701,129 4,713,411
Cash and cash equivalents at beginning of period 7,353,061 2,639,650
Cash and cash equivalents at end of period 8,054,190 7,353,061
Non-cash transactions:    
Ampio stock subscription 0 5,000,000
Ampio unpaid debt converted to stock, received prior to 2015 0 4,600,000
Contingent consideration related to the ProstaScint purchase 0 664,000
Warrant derivative liability related to the issuance of the convertible promissory notes (Note 8) 102,931 0
Primsol asset purchase included in primsol payable, $1,250,000 less future accretion of $173,000 1,077,000 0
Conversion of convertible promissory notes and interest of $221,000 to common stock 5,396,024 0
Natesto asset purchase included in Natesto payable, $6,000,000 less future accretion of $620,325 5,379,675 0
Warrant derivative liability related to the issuance of the registered offering placement agent warrants (Note 8) 297,317 0
Reclassification of liability based warrants to equity presentation related to the convertible promissory notes 136,828 0
Beneficial conversion feature related to convertible promissory notes 4,943,073 0
Debt issuance costs related to notes that converted to equity $ (218,494) $ 0