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, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (21,738,627) $ (9,833,244)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,247,518 102,876
Amortization of intangibles 15,078 7,208
Share-based compensation 5,490,517 4,631,115
Loss on disposal of assets 45,454
Impairment on assets held for sale 349,571  
Change in fair value of derivative liabilities (54,099) 877,490
Amortization of debt discount 204,581  
Change in fair value of contingent real estate liability (500,576)
Bargain purchase (1,725,881)
Changes in operating assets and liabilities:    
Accounts receivable (214,659)
Inventory 130,920 (48,883)
Prepaid expenses (147,485) (103,639)
Other current asset (441,365) (42,808)
Other assets (440)
Accounts payable and accrued expenses 1,258,106 572,644
Change in other long term liabilities 117,086
Deferred revenue 38,438 14,500
Net Cash Used In Operating Activities (14,199,982) (5,548,622)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for machinery and equipment (6,942,148) (1,625,055)
Cash paid for acquisition of STC-MEMS (2,846,049)
Cash paid for intangibles (72,846) (60,729)
Net Cash Used In Investing Activities (7,014,994) (4,531,833)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 13,199,930 15,384,771
Proceeds from exercise of warrants 74,941 171,760
Proceeds received from convertible notes, net 13,125,302  
Net Cash Provided By Financing Activities 26,400,173 15,556,531
Net Increase (Decrease) in Cash 5,185,197 5,476,076
Cash - Beginning of Period 9,631,520 4,155,444
Cash - End of Period 14,816,717 9,631,520
Cash Paid During the Period for:    
Income taxes
Interest
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock compensation payable 3,033 654,781
Warrants issued for stock issuance costs 645,757 991,767
Reclassification of derivative liability to additional paid in capital 2,200,219
Contingent liability 1,229,966 1,730,542
Reclassification of fixed assets to assets held for sale, net 682,821
Debt issuance costs included in accounts payable and accrued expenses 29,824
Intrinsic value of beneficial conversion feature 1,809,161
Derivative liability of convertible notes $ 1,104,701