Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables)
9 Months Ended
Mar. 31, 2018
Stockholders' Equity [Abstract]  
Schedule of common stock issued and outstanding
      Shares of common stock     Common stock     Additional paid-in capital     Warrants     Accumulated deficit  
      outstanding     $     $     $     $  
                                 
  Balance – June 30, 2017     14,509,633       14,510       36,665,285       4,570,574       (41,118,433 )
                                           
  Issuance of shares and warrants     8,000,000       8,000       6,184,585       2,752,751       -  
  Warrants exercised for cash     250,000       250       312,250       -       -  
  Series B Preferred stock dividend     148,806       149       142,209       -       (142,358 )
  Stock option expense     -       -       430,673       -       -  
  Warrants issued for services     -       -       -       155,204       -  
  Shares issued for services     4,071       4       4,817       -       -  
  Series A Preferred cash dividend     -       -       -       -       (6,267 )
  Loss for the period     -       -       -       -       (8,761,061 )
                                           
  Balance – March 31, 2018     22,912,510       22,913       43,739,819       7,478,529       (50,028,119 )
Schedule of stock options outstanding

      Number of 
stock 
options 
outstanding
    Weighted 
average 
exercise 
price 
$
 
               
  Balance – June 30, 2017     1,120,850       4.18  
  Granted     600,000       1.39  
                   
  Balance – March 31, 2018     1,720,850       3.21  

Summary of stock options currently outstanding and exercisable

  Exercise price 
$
  Number 
Outstanding at 
March 31, 
2018
    Weighted 
average 
remaining 
contractual 
life 
(years)
    Number 
exercisable 
at 
March 31, 
2018
 
                     
  0.87     120,000       9.59       40,000  
  1.17     300,000       4.91       50,000  
  1.55     25,000       4.17       25,000  
  2.00     131,250       3.52       131,250  
  2.11     180,000       9.27       -  
  2.96     45,000       6.84       45,000  
  3.20     30,000       7.00       30,000  
  3.76     45,000       7.86       31,244  
  4.00     12,500       1.50       12,500  
  4.10     40,000       8.61       17,776  
  4.20     412,500       4.81       412,500  
  4.48     30,000       7.86       20,831  
  4.95     224,600       6.31       140,907  
  5.32     80,000       8.10       48,890  
  6.16     15,000       5.00       15,000  
  9.20     30,000       5.17       30,000  
                           
        1,720,850               1,050,898  

Schedule of stock options valuation assumptions using a Black-Scholes pricing model
      March 31, 
2018
       
  Dividend rate   0%
  Volatility   78.6% to 87.1%
  Risk-free rate   1.90% to 2.71%
  Term - years   1.0 to 3.0
Schedule of stock option expense
      Three months ended 
March 31,
    Nine months ended 
March 31,
 
     

2018

$

   

2017

$

   

2018

$

   

2017

$

 
                           
  Research and development     9,145       117,775       130,546       82,763  
  General and administrative     128,151       32,179       300,127       23,808  
                                   
        137,296       149,954       430,673       106,571  
Summary of unvested stock options

      Number of 
Options
    Weighted 
average 
exercise 
price 
$
    Weighted 
average 
grant date 
fair value 
$
 
                     
  Unvested at June 30, 2017     318,033       4.81       2.57  
  Granted     600,000       1.39       0.76  
  Vested     (248,081 )     3.46       1.87  
                           
  Unvested at March 31, 2018     669,952       2.25       1.22  

Summary of changes in outstanding warrants

  Description   Number  
         
  Balance – June 30, 2017     6,628,906  
  Issuance of 2018 Investor Warrants     8,000,000  
  Exercise of 2018 Investor Warrants     (250,000 )
  Issuance of 2018 Agent Warrants     400,000  
  Warrants issued for services     420,000  
  Expiry of Dividend Warrants     (812,502 )
  Expiry of 2013 Investor Warrants     (105,129 )
           
  Balance - March 31, 2018     14,281,275  

Summary of outstanding warrants

  Description   Number     Exercise
price $
    Expiry date
                   
  2018 Investor     7,750,000       1.25     September 22, 2022
  2017 Investor     2,076,924       3.50     April 19, 2022
  2015 Investor     979,003       3.00     July 31, 2020
  2013 Investor  Amended     778,504       3.14     March 31, 2019
  2013 Placement Agent     1,262,500       3.14     June 30, 2019
  Issued for services     265,000       3.00     July 1, 2020 to February 1, 2021
  Issued for services     60,000       1.78     January 25, 2023
  Issued for services     360,000       1.17     February 27, 2023
  Issued for services     43,750       7.04     September 12, 2018
  Issued for services     41,400       5.93     February 27, 2020
  2018 Agent     400,000       1.25     September 20, 2022
  2017 Agent     138,462       4.06     April 12, 2022
  2016 Agent     103,964       4.00     May 12, 2021
  2015 Agent     21,768       3.00     July 15, 2020
        14,281,275       2.08