XML 29 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (22,508,304) $ (28,180,084)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation, amortization and accretion 4,364,680 874,789
Asset impairment 1,265,125 7,500,000
Stock-based compensation expense 2,502,092 902,946
Issuance of restricted stock 724,613 0
Amortization of debt issuance costs 0 182,759
Amortization of beneficial conversion feature 0 4,943,073
Noncash interest expense 0 221,024
Derivative (income) expense (212,809) 12,572
Amortization of prepaid research and development - related party (Note 11) 335,454 121,983
Loss on investment 61,519 971,629
Common stock issued to executives 509,996 0
Issuance of warrants to initial investors 596,434 0
Gain on sale of asset (428,374) 0
Warrant amendment 1,507 0
Adjustments to reconcile net loss to net cash used in operating activities:    
(Increase) in accounts receivable (355,031) (5,369)
Decrease (increase) in inventory 195,427 (485,265)
(Increase) decrease in prepaid expenses and other (95,202) 155,330
Increase in accounts payable and other 493,217 698,237
(Decrease) increase in accrued liabilities (414,570) 925,232
(Decrease) increase in accrued compensation (861,226) 1,004,427
(Decrease) increase in deferred rent (4,200) 10,875
(Decrease) in deferred revenue 0 (511,607)
Net cash used in operating activities (13,829,652) (10,657,449)
Cash flows used in investing activities:    
Purchases of fixed assets (111,608) (252,932)
Purchase of Natesto assets (6,000,000) (2,000,000)
Investment in Acerus 1,071,707 (2,012,991)
Sale of investment in Acerus cost (91,864) 0
Sales of Primsol assets 1,750,000 0
Purchase of Primsol asset (750,000) (1,040,000)
Cash proceed from Nuelle 613,309 0
Cost related to Nuelle acquisition (16,082) 0
Deposits 0 1,998
Net cash used in investing activities (3,534,538) (5,303,925)
Cash flows from financing activities:    
Issuance of common stock to Lincoln Park 739,857 0
Costs related to the sale of common stock (90,924) 0
Warrant tender offer 2,243,282 0
Warrant tender offer cost (312,159) 0
Proceeds from convertible promissory notes, net (Note 8) 0 5,175,000
Debt issuance costs (Note 8) 0 (298,322)
Costs related to the conversion of the convertible promissory notes to equity 0 (29,754)
Ampio stock subscription payment 0 5,000,000
Registerd offering 8,602,499 7,520,493
Registered offering costs (997,865) (904,914)
Over-allotment warrants purchased by placement agents 2,852 0
Sale of stock subscription 0 200,000
Net cash provided by financing activities 10,187,542 16,662,503
Net change in cash and cash equivalents (7,176,648) 701,129
Cash and cash equivalents at beginning of period 8,054,190 7,353,061
Cash and cash equivalents at end of period 877,542 8,054,190
Non-cash transactions:    
Issuance of Common Stock to Nuelle Share Holders 1,837,500 0
Fixed assets included in accounts payable 10,789 0
Warrants issued in connection with the equity financing to the placement agents 292,630 0
Warrants amended in connection with warrant tender offer 63,182 0
Warrant derivative liability related to the issuance of the convertible promissory notes (Note 8) 0 102,931
Primsol asset purchase included in primsol payable, $1,250,000 less future accretion of $173,000 0 1,077,000
Conversion of convertible promissory notes and interest of $221,000 to common stock 0 5,396,024
Natesto asset purchase included in Natesto payable, $6,000,000 less future accretion of $620,325 0 5,379,675
Warrant derivative liability related to the issuance of the registered offering placement agent warrants (Note 8) 0 297,317
Reclassification of liability based warrants to equity presentation related to the convertible promissory notes 0 136,828
Beneficial conversion feature related to convertible promissory notes 0 4,943,073
Debt issuance costs related to notes that converted to equity $ 0 $ (218,494)