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Warrants (Tables) | 12 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Significant assumptions in valuing the warrants issued |
| Warrants Issued During the Year Ended June 30, 2020 |
Expected volatility | 100 - 153% |
Equivalent term (years) | 1 - 5 |
Risk-free rate | 0.20% - 1.91% |
Dividend yield | 0.00% |
Warrant activity | A summary of equity-based warrants is as follows:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |
Outstanding June 30, 2018 |  |  | 1,641,906 |  |  | $ | 19.19 |  |  |  | 4.67 |
Warrants issued |  |  | 14,827,009 |  |  | $ | 1.35 |  |  |  | – |
Warrants expired |  |  | – |  |  |  | – |  |  |  | – |
Warrants exercised |  |  | (250,007 | ) |  |  | – |  |  |  | – |
Outstanding June 30, 2019 |  |  | 16,218,908 |  |  | $ | 3.15 |  |  |  | 4.36 |
Warrants issued |  |  | 44,627,120 |  |  | $ | 1.21 |  |  |  | – |
Warrants expired |  |  | – |  |  |  | – |  |  |  | – |
Warrants exercised (*) |  |  | (37,961,490 | ) |  |  | – |  |  |  | – |
Outstanding June 30, 2020 |  |  | 22,884,538 |  |  | $ | 3.06 |  |  |  | 2.00 |
(*) During the three months March 31, 2020, an investor exercised 5.0 million of the October 2019 private placement warrants under the cashless exercise provision. In April 2020, another investor exercised all remaining 5.0 million October 2019 private placement warrants. There are no more October 2019 private placement warrants outstanding as of June 30, 2020. A summary of liability warrants is as follows:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |
Outstanding June 30, 2018 |  |  | 240,755 |  |  | $ | 72.00 |  |  |  | 4.13 |
Warrants expired |  |  | – |  |  |  | – |  |  |  | – |
Warrants exercised |  |  | – |  |  |  | – |  |  |  | – |
Outstanding June 30, 2019 |  |  | 240,755 |  |  | $ | 72.00 |  |  |  | 3.16 |
Warrants expired |  |  | – |  |  |  | – |  |  |  | – |
Warrants exercised |  |  | – |  |  |  | – |  |  |  | – |
Outstanding June 30, 2020 |  |  | 240,755 |  |  | $ | 72.00 |  |  |  | 2.13 |

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