Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Stockholders' Deficit (Tables)

v3.19.3
Note 6 - Stockholders' Deficit (Tables)
3 Months Ended
Sep. 30, 2019
Stockholders' deficit:  
Schedule of warrant activity

Warrant detail for the three months ended September 30, 2019 is reflected below:

 

   

Number of

Warrants

   

Weighted

Average

Exercise

Price Per

Warrant

   

Remaining

Contract

Term (# years)

 
Warrants outstanding and exercisable at June 30, 2019     8,333     $ 20.00       0.25  
Warrants issued     -     $ -       -  
Warrants exchanged       -   $ -         -
Warrants forfeited     (8,333)     $ 20.00       -  
Warrants outstanding and exercisable at September 30, 2019     -     $ -       -  

  

Warrant detail for the three months ended September 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, 2018     174,079     $ 20.30       0.74  
Warrants issued     -     $ -       -  
Warrants exchanged     (4,000)     $ 20.00       -  
Warrants forfeited     -     $ -       -  
Warrants outstanding and exercisable at September 30, 2018     170,079     $ 20.30       0.47  

 

Schedule of stock option activity

Activity in stock options during the three months ended September 30, 2019 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, 2019     580,171     $ 11.05       8.59  
Granted     -     $ -       -  
Exercised     (4,437)     $ 4.69       -  
Forfeited and cancelled     (4,313)     $ 10.34       -  
Outstanding at September 30, 2019          571,421     $ 11.10       8.31  
Exercisable at September 30, 2019     339,420     $ 10.32       7.84  

 

Activity in stock options during the three months ended September 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, 2018     354,447     $ 8.30       8.87  
Granted     33,526     $ -       -  
Exercised     -       -       -  
Forfeited and cancelled     (10,312 )   $ -       -  
Outstanding at September 30, 2018     376,661     $ 9.40       8.33  
Exercisable at September 30, 2018     160,967     $ 7.70       7.99  

 

Schedule of stock-based compensation
Three months ended September 30,   2019     2018  
Research and development   $ 54,000     $ 15,000  
Selling and administrative     397,000       149,000  
Total stock-based compensation expense   $ 451,000     $ 164,000  
Schedule of stock options valuation assumptions
Three months ended September 30,  2019   2018
Expected volatility 111.4% -112.2%   142%
Risk free interest rate 2.43% - 2.45%   2.63%
Forfeiture rate 20%   20%
Dividend yield 0%   0%
Expected term (years) 5.61    5