XML 35 R25.htm IDEA: XBRL DOCUMENT

Equity Instruments (Tables)

9 Months Ended

Mar. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

	Number of Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life in Years

Unvested at June 30, 2017		-		$	-		-
Granted		783,000		$	1.99
Cancelled		(16,000	)	$	2.02
Unvested at March 31, 2018		767,000		$	1.99		9.6

Schedule of stock option activity

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years
Outstanding June 30, 2017		38,263		$	16.31		8.40
Granted		-		$	-
Exercised		-		$	-
Forfeited/Cancelled		(3,433	)	$	16.40
Outstanding March 31, 2018		34,830		$	16.30		7.39
Exercisable at March 31, 2018		25,989		$	16.26		7.17

Summary of stock-based compensation expense

	Three Months Ended March 31,				Nine Months Ended March 31,
Selling, general and administrative:	2018		2017		2018		2017

Stock options	$	12,000	$	817,000	$	288,000	$	2,242,000

Restricted Stock		55,000		499,000		159,000		656,000
Total share-based compensation expense	$	67,000	$	1,316,000	$	447,000	$	2,898,000

Summary of all warrants

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years
Outstanding June 30, 2017		286,049		$	50.29		4.23

Warrants issued in connection with the August 2017 private offering		5,920,002		$	3.60
Warrants issued to underwriters in connection with the August 2017 private offering		394,669		$	3.60
Warrants issued in connection with the March 2018 public offering		30,666,667		$	0.54
Warrants issued to investor		2,000,000		$	0.54
Warrants exercised		(1,547,000	)	$	0.41
Outstanding March 31, 2018		37,720,387		$	1.31		4.85

Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of significant assumptions in valuing the warrant derivative liability

Warrants:
Volatility	180.0	%
Equivalent term (years)	5.00
Risk-free interest rate	2.65	%
Dividend yield	0.00	%

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details