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Stockholders’ Equity (Deficit) | 3 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Stockholders' Equity (Deficit) | (5) Stockholders’ Equity (Deficit) Common Stock From November 9, 2018 through March 25, 2020, the Company sold 793,668 shares of common stock pursuant to an At-the-Market Issuance Sales Agreement (“ATM Agreement”) with B. Riley FBR, under which B. Riley FBR acted as the sales agent. In connection with the sale of these shares of common stock, the Company received net proceeds of $2.3 million. The weighted-average sale price per share was $3.04. No additional shares of the Company’s common stock will be sold pursuant to the ATM Agreement. The Company did not incur any termination penalties as a result of its termination of the ATM Agreement. Warrants A summary of the common stock warrant activity for the three months ended September 30, 2020 is presented below:
| Shares (In thousands) |  |  | Weighted Average Exercise Price |  |  | Aggregate Fair Market Value at Issuance (In thousands) |  |  | Weighted Average Remaining Contractual Term (Years) |
Outstanding June 30, 2020 |  | 86 |  |  | $ | 5.14 |  |  | $ | 194 |  |  |  | 4.74 |
Warrants issued |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Warrants exercised |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Warrants expired |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding September 30, 2020 |  | 86 |  |  | $ | 5.14 |  |  | $ | 194 |  |  |  | 4.49 |
The following represents a summary of the warrants outstanding at each of the dates identified:
|  |  |  |  |  |  |  |  |  | Number of Shares Underlying Warrants |
Issue Date |  | Classification |  | Exercise Price |  |  | Expiration Date |  | September 30, 2020 |  |  | June 30, 2020 |
March 26, 2020 |  | Equity |  | $ | 6.25 |  |  | March 25, 2025 |  |  | 24,780 |  |  |  | 24,780 |
March 30, 2020 |  | Equity |  | $ | 4.69 |  |  | March 27, 2025 |  |  | 61,133 |  |  |  | 61,133 |
Total Outstanding |  |  |  |  |  |  |  |  |  |  | 85,913 |  |  |  | 85,913 |
Nasdaq Compliance As previously noted in our Form 10-K for the fiscal year ended June 30, 2020, the Company was not in compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) for continued listing on The Nasdaq Capital Market because its stockholders’ equity was below the required minimum of $2.5 million at June 30, 2020. On September 11, 2020, the Company received a notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that it was not in compliance with the required stockholder’s equity of $2.5 million. The Notice had no immediate effect on the Company’s listing on The Nasdaq Capital Market. The Company originally had until October 26, 2020 to submit a plan to regain compliance with the minimum stockholders’ equity requirement; however, Nasdaq granted an extension of the deadline to submit a plan until November 2, 2020. On October 23, 2020, the Company closed a public offering of its common stock for gross proceeds of $18.0 million. The Company believes that, following this offering, it is now in compliance with the minimum stockholders’ equity requirement. On October 30, 2020, the Company filed Form 8-K disclosing this information as part of an alternative proposed by Nasdaq to its submitting a plan to regain compliance. See Note 15 for more information.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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