Note 8 - Stockholders' Deficit (Tables)
|
9 Months Ended |
12 Months Ended |
Mar. 31, 2019 |
Jun. 30, 2018 |
| Stockholders’ deficit: |
|
|
| Schedule of Warrant Activity |
| |
|
Number of
Warrants
|
|
|
Weighted
Average
Exercise
Price Per
Warrant
|
|
|
Remaining
Contract
Term (# years)
|
|
| Warrants outstanding and exercisable at June 30, 2018 |
|
|
1,740,790 |
|
|
$ |
2.03 |
|
|
|
0.74 |
|
| Warrants issued |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Warrants forfeited |
|
|
(1,657,457 |
) |
|
$ |
2.03 |
|
|
|
- |
|
| Warrants outstanding and exercisable at March 31, 2019 |
|
|
83,333 |
|
|
$ |
2.00 |
|
|
|
0.50 |
|
|
Warrant detail
for the year ended June 30, 2018 is reflected below:
| |
|
Number
of
Warrants
|
|
Weighted Average
Exercise
Price Per Warrant
|
|
Remaining Contract Term (# years) |
| Warrants outstanding and exercisable at June 30, 2017 |
|
|
2,342,590 |
|
|
$ |
1.97 |
|
|
|
0.12 - 1.55 |
|
Warrants issued
|
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
Warrants exchanged
|
|
|
(141,643 |
) |
|
$ |
0.60 |
|
|
|
— |
|
Warrants expired
|
|
|
(460,157 |
) |
|
$ |
2.15 |
|
|
|
— |
|
Warrants outstanding and exercisable at June 30, 2018
|
|
|
1,740,790 |
|
|
$ |
2.03 |
|
|
|
0.74 |
|
Warrant detail
for the year ended June 30, 2017 is reflected below:
| |
|
Number
of
Warrants
|
|
Weighted
Average
Exercise
Price Per
Warrant
|
|
Remaining
Contract Term (# years) |
| Warrants outstanding and exercisable at June 30, 2016 |
|
|
2,804,010 |
|
|
$ |
2.00 |
|
|
|
0.39 -
2.50 |
|
| Warrants exchanged |
|
|
(271,420 |
) |
|
$ |
1.40 |
|
|
|
— |
|
| Warrants expired |
|
|
(190,000 |
) |
|
$ |
3.00 |
|
|
|
— |
|
| Warrants outstanding and exercisable at June 30, 2017 |
|
|
2,342,590 |
|
|
$ |
1.97 |
|
|
|
0.12 -
1.55 |
|
|
| Schedule of Stock Option Activity |
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contract
Term (# years)
|
|
| Outstanding at June 30, 2018 |
|
|
3,544,473 |
|
|
$ |
0.83 |
|
|
|
|
| Granted |
|
|
2,478,960 |
|
|
|
1.44 |
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
| Forfeited and cancelled |
|
|
(183,660 |
) |
|
|
0.46 |
|
|
|
|
| Outstanding at March 31, 2019 |
|
|
5,839,773 |
|
|
$ |
1.10 |
|
|
|
8.78 |
|
| Exercisable at March 31, 2019 |
|
|
2,669,193 |
|
|
$ |
0.96 |
|
|
|
7.98 |
|
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contract
Term (# years)
|
|
| Outstanding at June 30, 2017 |
|
|
716,277 |
|
|
$ |
1.10 |
|
|
|
|
| Granted |
|
|
1,970,000 |
|
|
|
0.46 |
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
| Forfeited and cancelled |
|
|
(66,910 |
) |
|
$ |
0.62 |
|
|
|
|
| Outstanding at March 31, 2018 |
|
|
2,619,367 |
|
|
$ |
0.61 |
|
|
|
8.16 |
|
| Exercisable at March 31, 2018 |
|
|
1,228,654 |
|
|
$ |
0.77 |
|
|
|
7.75 |
|
|
Activity in stock options
during the year ended June 30, 2018 and related balances outstanding as of that date are reflected below:
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contract
Term (# years)
|
|
| Outstanding at June 30, 2017 |
|
|
716,277 |
|
|
$ |
1.10 |
|
|
|
7.09 |
|
| Granted |
|
|
2,925,106 |
|
|
|
0.78 |
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited and cancelled |
|
|
(96,910 |
) |
|
$ |
0.57 |
|
|
|
|
|
| Outstanding at June 30, 2018 |
|
|
3,544,473 |
|
|
$ |
0.83 |
|
|
|
8.87 |
|
| Exercisable at June 30, 2018 |
|
|
1,356,806 |
|
|
$ |
0.74 |
|
|
|
7.71 |
|
Activity in stock options during
the year ended June 30, 2017 and related balances outstanding as of that date are reflected below:
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contract
Term (# years)
|
|
| Outstanding at June 30, 2016 |
|
|
900,402 |
|
|
$ |
1.13 |
|
|
|
|
| Granted |
|
|
- |
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
| Forfeited and cancelled |
|
|
(184,125 |
) |
|
$ |
1.63 |
|
|
|
|
| Outstanding at June 30, 2017 |
|
|
716,277 |
|
|
$ |
1.10 |
|
|
|
7.09 |
|
| Exercisable at June 30, 2017 |
|
|
589,476 |
|
|
$ |
1.11 |
|
|
|
6.80 |
|
|
| Schedule of Stock-based Compensation |
| |
|
For the Three Months Ended
March 31
|
|
|
For the Nine Months Ended
March 31,
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Research and development |
|
$ |
225,000 |
|
|
$ |
16,000 |
|
|
$ |
256,000 |
|
|
$ |
80,000 |
|
| General and administration |
|
|
861,000 |
|
|
|
29,000 |
|
|
|
1,236,000 |
|
|
|
129,000 |
|
| Total stock-based compensation expense |
|
$ |
1,086,000 |
|
|
$ |
45,000 |
|
|
$ |
1,492,000 |
|
|
$ |
209,000 |
|
|
| Years ended June 30, |
|
2018 |
|
|
2017 |
|
| Research and development |
|
$ |
96,000 |
|
|
$ |
13,000 |
|
| General and administrative |
|
|
159,000 |
|
|
|
27,000 |
|
| Total stock-based compensation expense |
|
$ |
255,000 |
|
|
$ |
40,000 |
|
|
| Schedule of Stock Options Valuation Assumptions |
|
Nine months ended March 31,
|
|
2019 |
|
|
2018 |
|
| Expected volatility |
|
|
111 |
% |
|
|
100 |
% |
| Risk free interest rate |
|
|
2.10 |
% |
|
|
1.76 |
% |
| Forfeiture rate |
|
|
20.0 |
% |
|
|
23.0 |
% |
| Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
| Expected term (years) |
|
|
5 |
|
|
|
5 |
|
|
| |
|
2018 |
|
|
2017 |
|
| Expected
volatility |
|
138% -143% |
|
|
|
|
100% |
|
| Risk free interest
rate |
|
1.76%
- 2.63% |
|
|
|
|
1.31% |
|
| Forfeiture rate |
|
20% -2 3% |
|
|
|
|
17%-24% |
|
| Dividend yield |
|
0% |
|
|
|
|
0% |
|
| Expected term
(years) |
|
5 |
|
|
|
|
3 |
|
|