Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.10.0.1
Stockholders' Equity (Tables)
3 Months Ended
Sep. 30, 2018
Class of Stock [Line Items]  
Schedule of common stock issued and outstanding
     

Shares of common stock

    Common stock     Additional paid-in capital    

Warrants

   

Accumulated deficit

 
      outstanding     $     $     $     $  
                                 
  Balance – June 30, 2018     22,966,668       22,967       43,177,523       8,229,482       (52,441,337 )
                                           
  Series B Preferred stock dividend     49,602       49       36,036       -       (36,085 )
  Warrants issued for services     -       -       -       30,661       -  
  Shares issued for services     7,063       7       4,132       -       -  
  Stock option expense     -       -       132,902       -       -  
  Performance stock unit expense     -       -       61,514       -       -  
  Series A Preferred cash dividend     -       -       -       -       (2,089 )
  Loss for the period     -       -       -       -       (1,991,804 )
                                           
  Balance – September 30, 2018     23,023,333       23,023       43,412,107       8,260,143       (54,471,315 )
Stock options [Member]  
Class of Stock [Line Items]  
Schedule of valuation assumptions using a Black-Scholes pricing model
     

September 30,

2018

 
         
  Dividend rate     0 %
  Volatility     72.1% to 76.4 %
  Risk-free rate     2.1% to 3.0 %
  Term - years     0.8 to 2.8  
Schedule of outstanding under the legacy plan
     

Number of

stock

options

outstanding

   

Weighted

average

exercise

price

$

 
               
  Balance – September 30 and June 30, 2018     2,626,829       2.43  
Summary of stock options currently outstanding and exercisable
 

Exercise price

$

   

 

Number

Outstanding

   

Weighted

average

remaining

contractual

life

(years)

   

Number

exercisable

   
                         
    0.70       54,514       9.73       -    
    0.87       120,000       9.09       100,000    
    0.98       836,465       9.64       -    
    1.06       36,000       9.54       -    
    1.17       300,000       4.41       200,000    
    1.55       25,000       3.67       25,000    
    2.00       131,250       3.02       131,250    
    2.11       159,000       8.01       63,000    
    2.96       45,000       6.35       45,000    
    3.20       30,000       0.67       30,000    
    3.76       45,000       7.36       38,742    
    4.00       12,500       1.00       12,500    
    4.10       40,000       8.11       24,442    
    4.20       412,500       4.31       412,500    
    4.48       30,000       7.36       25,831    
    4.95       224,600       5.82       162,741    
    5.32       80,000       7.60       62,223    
    6.16       15,000       4.50       15,000    
    9.20       30,000       4.67       30,000    
                                 
            2,626,829               1,378,229  
Schedule of stock-based compensation expense
     

Three months ended

September 30,

 
     

2018

$

   

2017

$

 
               
  Research and development     28,450       (4,974 )
  General and administrative     104,452       69,844  
                   
        132,902       64,870  
Summary of unvested stock options
     

Number of

Options

   

Weighted

average

exercise

price

$

   

Weighted

average

grant date

fair value

$

 
                     
  Unvested at June 30, 2018     1,381,599       1.44       0.76  
  Vested     (132,999 )     1.85       1.01  
                           
  Unvested at September 30, 2018     1,248,600       1.40       0.74  
Summary of changes in outstanding warrants
  Description   Number  
         
  Balance – June 30, 2018     14,281,275  
  Issued for services (i)     120,000  
 

Forfeited (ii)

    (24,000 )
  Expired (iii)     (43,750 )
           
  Balance - September 30, 2018     14,333,525  

 

  i) Warrants issued for services are exercisable at $0.90 until September 15, 2023. They vest pro rata monthly over twelve months commencing September 15, 2018.

 

  ii) Warrants issued for services exercisable at $1.17 were forfeited upon termination of the underlying agreement.

 

  iii) Warrants issued for services exercisable at $7.04 expired September 12, 2018.
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     336,000       1.17     February 27, 2023
  Issued for services     120,000       0.90     September 15, 2023
  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
        14,333,525       2.08      
Performance stock units [Member]  
Class of Stock [Line Items]  
Schedule of valuation assumptions using a Black-Scholes pricing model
  Dividend rate     0 %
  Volatility     79.0 to 82.5 %
  Risk-free rate     2.56% to 2.71 %
  Term years     1.67 to 3.24