Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.6.0.2
Stockholders' Equity (Tables)
6 Months Ended
Dec. 31, 2016
Stockholders' Equity [Abstract]  
Schedule of common stock issued and outstanding
      Shares of common stock      Common stock    
Additional paid-in
capital
    Warrants  
      outstanding     $     $     $  
                           
  Balance – June 30, 2016     11,187,023       11,187       28,833,105       1,658,382  
  Warrants exercised for cash     105,775       105       595,047       (25,202 )
  Cashless exercise of warrants     594       1       5,158       -  
  Shares issued for services     60,000       60       563,940       -  
  Warrants issued for services     -       -       -       50,244  
  Amendment of warrants     -       -       53,006       -  
  Amendment of stock options     -       -       260,969       -  
  Series B Preferred stock dividends     100,889       101       466,953       -  
  Conversion of Series B preferred stock     30,938       31       86,300       -  
  Stock option (income) expense     -       -       (43,384 )     -  
  Balance – December 31, 2016     11,485,219       11,485       30,821,094       1,683,424
Schedule of stock options outstanding under the plan
      Number of 
stock 
options 
outstanding
    Weighted 
average 
exercise 
price
$
 
               
  Balance – June 30, 2016     856,250       3.77  
  Granted     40,000       4.10  
                   
  Balance – December 31, 2016     896,250       3.78  
Schedule of stock options currently outstanding and exercisable
  Exercise price 
$
    Number 
Outstanding at 
December 31, 
2016
    Weighted 
average 
remaining 
contractual 
life 
(years)
    Number 
exercisable 
at 
December 31, 
2016
 
                       
    1.49       25,000       5.14       25,000  
    2.00       131,250       5.14       131,250  
    2.96       45,000       8.09       45,000  
    3.20       30,000       8.25       30,000  
    3.32       30,000       9.08       9,167  
    3.60       25,000       9.21       6,551  
    3.76       45,000       9.00       15,000  
    4.00       12,500       2.75       12,500  
    4.10       40,000       9.86       1,889  
    4.20       412,500       6.62       412,500  
    4.48       30,000       9.02       9,833  
    4.76       25,000       9.33       5,556  
    6.16       15,000       6.25       15,000  
    9.20       30,000       6.42       30,000  
                               
            896,250               749,246  
Schedule of stock options valuation assumptions using a Black-Scholes pricing model
      December 31, 
2016
 
         
  Dividend rate     0 %
  Volatility     78.3% to 88.7 %
  Risk-free rate     1.1% to 1.7 %
  Term - years     2.0 to 3.0
Schedule of stock-based compensation expense (income)

      Three months ended December 31,     Six months ended
December 31,
 
      2016
$
    2015
$
    2016
$
    2015
$
 
                           
  Research and development     (65,727 )     9,775       (35,012 )     16,230  
  General and administrative     (9,475 )     65,187       (8,372 )     98,638  
                                   
        (75,202 )     74,962       (43,384 )     114,868
Schedule of unvested stock options

      Number of
Options
    Weighted
average
exercise
price
$
    Weighted
average
grant date
fair value
$
 
                     
  Unvested at June 30, 2016     141,016       3.17       1.73  
  Granted     40,000       4.10       2.32  
  Vested     (34,012 )     4.00       2.19  
                           
  Unvested at December 31, 2016     147,004       3.37       1.85
Schedule of outstanding warrants

  Description   Number  
         
  Balance – June 30, 2016     4,612,627  
  2013 Investor Warrants (i)     (65,095 )
  2015 Investor Warrants (ii)     (40,000 )
  2015 Agent Warrants (iii)     (1,680 )
           
  Balance - December 31, 2016     4,508,852  

 

i) 2013 Investor Warrants were exercised for cash proceeds of $204,659.
     
ii) 2015 Investor Warrants were exercised for cash proceeds of $120,000.
     
iii) 680 of the 2015 Agent Warrants were exercised for cash proceeds of $2,040 and 1,000 of the 2015 Agent Warrants were exercised on a cashless basis for 594 shares of common stock.