Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v2.4.0.6
Condensed Statements of Cash Flows (USD $)
 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (4,880,549) $ (4,313,255)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,009,198 2,006,052
Amortization of intangible assets 249,701 240,036
Depreciation 1,688 3,227
Change in fair value of warrant derivative liability (503,057) (2,872,832)
Other 510  
Changes in operating assets and liabilities 182,764 (32,703)
Net cash used in operating activities (3,939,745) (4,969,475)
Cash flows from investing activities:    
Additions to intangible assets (153,637) (184,690)
Purchases of fixed assets (4,440) (887)
Net cash used in investing activities (158,077) (185,577)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants, net of expenses   9,035,848
Net cash provided by financing activities   9,035,848
Net (decrease) increase in cash (4,097,822) 3,880,796
Cash - beginning of period 5,624,403 2,843,300
Cash - end of period $ 1,526,581 $ 6,724,096