Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.7.0.1
Consolidated Statement of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Loss for the period $ 8,081,764 $ 8,864,864
Items not affecting cash    
Amortization of intangible assets 16,683 10,288
Change in fair value of stock option and derivative liabilities (245,963) 2,341,660
Change in fair value of derivative liability due change in warrant terms 295,456
Shares issued for services 564,000 146,900
Warrants issued for services 81,602 647,902
Stock option expense 124,747 394,132
Changes in non-cash working capital    
Prepaid expenses and deposits (1,063,991) 100,907
Taxes and other receivables (58,208) 7,444
Accounts payable and accrued liabilities 598,310 (178,263)
Related party payables 45,513 (47,376)
Net cash flows from operating activities (8,019,071) (5,145,814)
Cash flows from investing activities    
Intangible assets - website development costs (20,956) (16,762)
Net cash flows from investing activities (20,956) (16,762)
Cash flows from financing activities    
Net proceeds from the issuance of shares and warrants 7,932,107 2,453,633
Net proceeds from the issuance of Series B Preferred Stock 6,540,821
Proceeds from the exercise of warrants 545,026 579,309
Series A preferred stock dividend (8,356) (8,356)
Net cash flows from financing activities 8,468,777 9,565,407
Increase in cash and cash equivalents 428,750 4,402,831
Cash - beginning of year 6,157,264 1,754,433
Cash - end of year $ 6,586,014 $ 6,157,264