XML 20 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (13,620,679) $ (27,131,908)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization and accretion 6,245,827 2,727,067
Impairment of intangible assets 195,278 0
Stock-based compensation expense 1,079,311 1,022,202
Loss (gain) from change in fair value of contingent consideration (5,291,629) 9,830,550
Derecognition of contingent consideration (5,199,806) 0
Gain on the change in fair value of CVR payout (267,130) 0
Changes in allowance for bad debt 404,549 0
Loss (gain) from change in fair value of CVR 352,782 0
Loss (gain) from note conversion 315,728 0
Loss (gain) from settlement payment (24,469) 0
Issuance of common stock to employee 48,083 11,690
Derivative income (1,830) (80,779)
Changes in operating assets and liabilities:    
(Increase) in accounts receivable (3,560,860) (1,162,005)
(Increase) in inventory (6,950,624) (101,096)
(Increase) in prepaid expenses and other (2,315,881) (517,772)
(Increase) in other current assets (3,749,846) 0
(Decrease) increase in accounts payable and other (1,376,521) 134,775
Increase in accrued liabilities 4,330,856 961,858
Increase in accrued compensation 1,124,624 308,824
(Decrease) in contract liabilities (111,650) 0
Increase in interest payable - related party 0 166,667
(Decrease) in deferred rent 0 (1,450)
Net cash used in operating activities (28,373,887) (13,831,377)
Investing activities    
Deposit 6,000 2,888
Purchases of fixed assets 0 (59,848)
Contingent consideration payment (202,688) (505,025)
Cash received from acquisition 390,916 0
Purchase of assets (5,850,000) (500,000)
Net cash used in investing activities (5,655,772) (1,061,985)
Financing activities    
Issuance of preferred, common stock and warrants 65,729,900 15,180,000
Issuance costs related to preferred, common stock and warrants (5,404,151) (1,479,964)
Warrant exercises 26,991,841 375,026
Payments made to borrowings (19,436,779) 0
Proceeds from borrowings 2,547,928 0
Issuance of note payable 640,000 0
Issuance of debt - related party 0 5,000,000
Net cash provided by financing activities 71,068,739 19,075,062
Net change in cash, restricted cash and cash equivalents 37,039,080 4,181,700
Cash, restricted cash and cash equivalents at beginning of period 11,294,227 7,112,527
Cash, restricted cash and cash equivalents at end of period 48,333,307 11,294,227
Supplemental disclosures of cash and non-cash investing and financing transactions    
Warrants issued to investors and underwriters 0 1,888,652
Contingent consideration included in accounts payable 16,014 42,821
Contingent consideration related to product acquisition 0 8,833,219
Issuance of preferred stock related to purchase of assets 0 519,600
Conversion of debt to equity 0 5,166,667
Cash paid for interest 1,040,276 0
Fair value of right-to-use asset and related lease liability 334,895 0
Issuance of Series G preferred stock due to acquisition of the Pediatric Portfolio of therapeutics 5,559,941 0
Issuance of Series H preferred stock due to acquisition of the Innovus 12,805,263 0
Fixed payment arrangements included in accounts payable 894,900 0
Exchange of convertible preferred stock into common stock 2,540 0
Reclass of par from APIC to Common Stock for issuance of stock for equity classified instruments 1,488 0
Issuance cost related to S-3 1,531,190 0
Issuance of common stock for settlement 125,531 0
Issuance of common stock for note conversion 2,578,864 0
Issuance of common stock to consultants 231,000 0
CVR payout for calendar year 2019 $ 2,000,000 $ 0