Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,108,240) $ (5,406,167)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 102,876 34,828
Amortization of intangibles 7,208 3,339
Share-based compensation 3,906,111 849,625
Change in fair value of derivative liabilities 877,490 968,840
Bargain purchase (1,725,881)
Changes in operating assets and liabilities:    
Inventory (48,883) (43,544)
Prepaid expenses (103,639) 4,994
Other current asset (42,808)
Accounts payable and accrued expenses 572,644 275,116
Deferred revenue 14,500
Net Cash Used In Operating Activities (5,548,622) (3,312,969)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for machinery and equipment (1,625,055) (160,172)
Cash paid for acquisition of STC-MEMS (2,846,049)
Cash paid for intangibles (60,729) (43,495)
Net Cash Used In Investing Activities (4,531,833) (203,667)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 15,384,771 3,332,584
Proceeds from exercise of warrants 171,760 10,000
Net Cash Provided By Financing Activities 15,556,531 3,342,584
Net Increase (Decrease) in Cash 5,476,076 (174,052)
Cash - Beginning of Period 4,155,444 4,329,496
Cash - End of Period 9,631,520 4,155,444
Cash Paid During the Period for:    
Income taxes
Interest
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock compensation payable 654,781 146,016
Warrants issued for stock issuance costs 991,767 165,719
Reclassification of derivative liability to additional paid in capital 2,200,219
Contingent liability $ 1,730,542