Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) |
6 Months Ended | |
---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (4,779,866) | $ (4,771,130) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 1,623,323 | 1,530,967 |
Loss from equity investment in Peak Gold, LLC | 2,700,000 | 2,790,000 |
Changes in operating assets and liabilities: | ||
Decrease in prepaid expenses and other | 10,763 | 49,007 |
Decrease in accounts payable and accrued liabilities | (100,037) | (191,417) |
Net cash used in operating activities | (545,817) | (592,573) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash invested in Peak Gold, LLC | (2,700,000) | (2,790,000) |
Net cash used in investing activities | (2,700,000) | (2,790,000) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (3,245,817) | (3,382,573) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 8,600,658 | 13,810,805 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 5,354,841 | $ 10,428,232 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. No definition available.
|
X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|