Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (3,666) $ (6,198)
Adjustments to reconcile net loss to net cash used in operating activities:    
Effect of Settlement Agreement (1,863) 0
Share-based compensation 1,075 1,263
Amortization of intangible assets 358 336
Depreciation 3 2
Loss on disposal of fixed assets 1 0
Loss on abandonment of intangible assets 56 3
Change in the fair value of derivative financial liability 0 (520)
Changes in operating assets and liabilities    
Accounts receivable - trade (205) (656)
Prepaid expenses and other current assets 97 (289)
Accounts payable 56 (445)
Accrued expenses (28) 1,655
Net cash used in operating activities (4,116) (4,849)
Cash flows from investing activities:    
Additions to intangible assets (255) (188)
Purchases of fixed assets (4) (7)
Net cash used in investing activities (259) (195)
Cash flows from financing activities:    
Proceeds from sale of common stock 480 4,284
Proceeds from exercise of warrants 3,100 0
Costs to raise capital (29) (450)
Net cash provided by financing activities 3,551 3,834
Net decrease in cash (824) (1,210)
Cash - beginning of year 4,414 5,624
Cash - end of year 3,590 4,414
Schedule of non-cash activities:    
Reversal of accrued warrants 71 0
Unpaid intangible assets included in accounts payable 12 0
Unpaid intangible assets included in accrued expenses 20 0
Effect of amendment to Collaboration and License Agreement on accounts receivable and accounts payable $ 1,007 $ 0