XML 16 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities        
Net loss $ (5,724,390) $ (2,276,188) $ (28,180,084) $ (7,723,404)
Stock-based compensation expense 1,043,712 68,322 902,946 1,017,938
Issuance of restricted stock 75,466 0    
Depreciation, amortization and accretion 822,161 129,049 874,789 118,202
Derivative expense 70,609 (128) 12,572 0
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
Amortization of prepaid research and development - related party (Note 11) 30,496 30,496 121,983 121,984
Unrecognized gain (loss) on investment (728,100) 0 971,629 0
Deferred taxes     0 (23,910)
Compensation through issuance of stock 509,996 0    
Issuance of warrants to initial investors 589,377 0    
Adjustments to reconcile net loss to net cash used in operating activities:        
(Increase) in accounts receivable (347,013) (10,872) (5,369) (157,058)
(Increase) in inventory (60,650) (454,638) (485,265) (39,442)
(Increase) decrease in prepaid expenses and other (337,525) 10,357 155,330 150,434
(Increase) in prepaid research and development - related party (Note 11)     0 (150,000)
Increase in accounts payable and accrued liabilities (607,881) (121,684) 1,623,469 547,314
Increase in accrued compensation (668,792) 420,538 1,004,427 196,503
(Decrease) in payable to Ampio     0 (607,061)
Increase (decrease) in interest payable 0 57,637    
Increase in deferred rent 75 11,379 10,875 0
(Decrease) in deferred revenue 0 (21,428) (511,607) (85,714)
Net cash used in operating activities (5,332,459) (2,157,160) (10,657,449) (6,634,214)
Cash flows used in investing activities        
Deposits     1,998 (4,886)
Purchases of property and equipment (4,721) (3,554) (252,932) 0
Purchase of ProstaScint Business     0 (1,000,000)
Installment payment for Primsol asset (500,000) 0 (1,040,000)  
Purchase of Natesto license     (2,000,000)  
Investment in Acerus     (2,012,991)  
Net cash used in investing activities (504,721) (3,554) (5,303,925) (1,004,886)
Cash flows from financing activities        
Proceeds from convertible note from Ampio converted to stock     0 7,400,000
Issuance of common stock to Lincoln Park Capital 631,481 0 7,520,493 0
Costs related to sale of common stock (24,247) 0 (904,914) 0
Proceeds from convertible promissory notes (Note 7) 0 5,175,000 5,175,000 0
Debt issuance costs (Note 7) 0 (298,322) (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
Net cash provided by financing activities 607,234 4,876,678 16,662,503 12,352,511
Net change in cash and cash equivalents (5,229,946) 2,715,964 701,129 4,713,411
Cash and cash equivalents at beginning of period 8,054,190 7,353,061 7,353,061 2,639,650
Cash and cash equivalents at end of period 2,749,213 10,069,025 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) 0 102,931 102,931 0
Primsol accretion included in accounts payable     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
Primsol accretion included in accounts payable 49,126 0    
Fixed assets included in accounts payable $ 95,866 $ 0