Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows used in operating activities:    
Net loss $ (2,603,234) $ (2,652,898)
Items not involving cash    
Accrued interest 28,581 55,720
Amortization of debt issuance costs 67,771 40,500
Amortization of deferred finance costs 53,070
Deferred revenues (37,500) (37,500)
Depreciation 5,647 3,124
Fair value loss on derivative financial liabilities 1,113,147 (29,143)
Fair value loss (gain) on warrant liability 256,002 (54,700)
Interest on convertible debentures 1,053,582 433,945
Gain on extinguishment of debt (42,056) 76,486
Gain on extinguishment of liabilities (408,009)
Stock-based compensation 111,165
Changes in working capital 370,010 1,175,772
(112,989) (664,809)
Cash flows used in investing activities:    
Purchase of property and equipment (3,500)
(3,500)
Cash flows from financing activities:    
Proceeds from loans 562,400 92,000
Repayment of loans (110,022)
Proceeds from issuance of common stock 554,155
Proceeds (repayment) of convertible debentures (85,979) 90,000
Subscriptions received
476,421 626,133
Increase (decrease) in cash 363,432 (42,176)
Cash, beginning of period 16,764 47,350
Cash, end of period 380,196 5,174
Supplemental cash flow information:    
Interest paid 1,448 2,793
Consulting Services [Member]    
Items not involving cash    
Issue shares for services 212,720
Services Other Than Consulting [Member]    
Items not involving cash    
Issue shares for services $ 30,000