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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,500,949) $ (5,682,056)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 18,253 14,045
Non-cash interest expense 438 23,581
Decrease in right-of-use asset 72,113 0
Stock-based compensation 827,735 1,233,585
Changes in operating assets and liabilities:    
Accounts receivable 60,168,591 (104,189)
Prepaid expenses and other assets 39,436 93,049
Accounts payable (446,964) (1,058,542)
Accrued expenses (1,269,232) (82,688)
Operating lease liability (72,113) 0
Other non-current liabilities 0 25,653
Net cash used in operating activities 54,837,308 (5,537,562)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (62,880) 0
Net cash provided by investing activities (62,880) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of withholding taxes related to restricted stock units 0 (65,992)
Payments on notes payable obligations (832,851) (2,000,000)
Warrant repurchase (1,333,497) 0
Proceeds from the sale of common stock, net of costs 579,730 2,222,447
Net cash (used in) provided by financing activities (1,586,618) 156,455
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 53,187,810 (5,381,107)
CASH AND CASH EQUIVALENTS, beginning of period 43,510,422 38,000,171
CASH AND CASH EQUIVALENTS, end of period 96,698,232 32,619,064
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 8,132 157,636
Cash paid for income taxes $ 0 $ 0