Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.3
Stockholders' Equity (Tables)
3 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Schedule of Conversion of Series B Preferred stock to common stock

    Series B Preferred Stock  
       
    Number of shares     $  
             
Opening balance – June 30, 2019     673,613      

4,699,304

 
Conversion of Series B Preferred stock to common stock     (25,000 )     (174,407 )
                 
Closing balance – September 30, 2019     648,613       4,524,897  

Schedule of stock options outstanding
    Number of
stock
options
outstanding
    Weighted
average
exercise
price
 
             
Balance – June 30, 2019     288,183       22.31  
Granted     491,817       0.61  
                 
Balance – September 30, 2019     780,000       8.63
Summary of stock options currently outstanding and exercisable
Exercise price
$
  Number
Outstanding at
September 30,
2019
    Weighted
average
remaining
contractual
life
(years)
    Number
exercisable
at
September 30,
2019
 
                   
0.61     491,817       9.93       -  
6.10     30,000       9.11       19,443  
7.00     5,451       8.73       2,271  
8.70     12,000       8.09       12,000  
9.83     83,647       8.64       37,176  
10.60     3,600       8.54       1,800  
11.70     30,000       3.41       30,000  
15.10     2,500       2.67       2,500  
20.00     13,125       2.02       13,125  
21.10     14,400       7.77       9,600  
29.60     4,500       5.35       4,500  
37.60     4,500       6.36       4,500  
40.00     1,250       -       1,250  
41.00     4,000       7.11       3,778  
42.00     41,250       3.31       41,250  
44.80     3,000       6.36       3,000  
49.50     22,460       4.82       20,641  
53.20     8,000       6.60       8,000  
61.60     1,500       3.50       1,500  
92.00     3,000       3.67       3,000  
                         
      780,000               219,334  
Schedule of valuation assumptions using a Black-Scholes pricing model

 

 

 

September 30,

2019

     
Dividend rate   0%
Volatility   99% to 102%
Risk-free rate   1.50%
Term - years   5.5 to 6.5

Schedule of stock option expense

    Three months ended
September 30,
 
    2019
$
    2018
$
 
             
Research and development     8,153       28,450  
General and administrative     42,832       104,452  
                 
      50,985       132,902  

Summary of changes in outstanding warrants
Description   Number  
       
Balance – June 30, 2019     1,543,596  
         
2020 Investor Warrants issued in underwritten offering     7,762,500  
PFW issued in underwritten offering     2,655,000  
2020 Underwriter Warrants issued in underwritten offering     377,500  
Exercise of PFW     (2,655,000 )
         
Balance - September 30, 2019     9,683,596
Summary of outstanding warrants
Description   Number     Exercise
price $
    Expiry date
                 
2020 Investor     7,762,500       1.00     August 16, 2024
2019 Investor     760,500       3.10     June 5, 2024
2018 Investor     280,000       12.50     September 22, 2022
2017 Investor     207,721       35.00     April 19, 2022
2015 Investor     97,905       30.00     July 31, 2020
Issued for services     26,500       30.00     July 1, 2020 to February 1, 2021
Issued for services     6,000       17.80     January 25, 2023
Issued for services     33,600       11.70     February 27, 2023
Issued for services     12,000       9.00     September 15, 2023
Issued for services     4,140       59.30     February 27, 2020
Issued for services     2,000       9.00     October 11, 2021
2020 Underwriter     377,500       1.15     August 14, 2022
2019 Agent     46,800       3.875     June 3, 2024
2018 Agent     40,000       12.50     September 20, 2022
2017 Agent     13,848       40.60     April 12, 2022
2016 Agent     10,402       40.00     May 12, 2021
2015 Agent     2,180       30.00     July 15, 2020
      9,683,596