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Subsequent Events
9 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

During April 2019, 691,832 of Aytu Series C Preferred shares outstanding converted into 691,832 shares of our common stock.

 

On April 4, 2019, Aytu entered into a 36-month extension of our operating lease for the Englewood, Colorado office space. The base rent will be at $10,000 per month.

 

On April 18, 2019, pursuant to the exchange agreement between Aytu and Armistice, which was approved by the stockholders of the Company on April 12, 2019, Aytu exchanged the Armistice Note into: (1) 3,120,064 shares of common stock of the Company, (2) 2,751,148 shares of Series E Convertible preferred stock of the Company, and (3) a Common Stock Purchase Warrant exercisable for 4,403,409 shares of common stock of the Company.

 

On May 1, 2019, Aytu entered into an Independent Contractor Services Agreement (the “Agreement”) with Averaden, LLC (the “Contractor”). Under the terms of the Agreement, the Contractor agreed to perform certain consulting services with respect to corporate business development activities for the Company. In return, the Company has agreed to pay the Contractor $8,400 per month, which amount shall not exceed $110,000 in aggregate. The Agreement will terminate on May 15, 2020. Gary Cantrell, a member of the Board of Directors of the Company, is a Principal of the Contractor.