Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2018

Schedule of Assumptions Used to value of Liability

 In determining the grant date fair value of option awards under the 2016 Plan during the nine months ended March 31, 2018, the Company applied the Black-Scholes option pricing model based on the following key assumptions:

Option life (in years)	5.50 - 6.00
Stock volatility	59.5% - 64.4%
Risk-free interest rate	2.18% - 2.68%
Expected dividends	0%

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables summarize the Company’s assets and liabilities carried at fair value measured on a recurring basis at March 31, 2018 and June 30, 2017 by valuation hierarchy (in thousands):

	March 31, 2018
			Quoted prices in		Significant other		Significant
	Total carrying		active markets		observable inputs		unobservable inputs
	value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents	$	6,800	$	6,800	$	—	$	—
	$	6,800	$	6,800	$	—	$	—
Liabilities:
Derivative liabilities	$	6,957	$	—	$	—	$	6,957
	$	6,957	$	—	$	—	$	6,957

	June 30, 2017
			Quoted prices in		Significant other		Significant
	Total carrying		active markets		observable inputs		unobservable inputs
	value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents	$	13,521	$	13,521	$	—	$	—
	$	13,521	$	13,521	$	—	$	—

Summary of Changes in the Fair Value of the Company's Derivative Liability

The following table sets forth a summary of changes in the fair value of the Company’s derivative liability for which fair value is determined by Level 3 inputs (in thousands):

Balance at June 30, 2017	$	—
Initial fair value of warrant liability		4,632
Change in fair value		2,325
Balance at March 31, 2018	$	6,957

Percentage of Shares Vest on First Anniversary of Achievement Date [Member]

Schedule of Assumptions Used to value of Liability

Significant assumptions used to value this liability are as follows:

	March 28, 2018 (Date of Issuance)	March 31, 2018
Volatility	54.20%	52.50%
Risk free interest rate	1.70%	1.70%
Estimated date of stockholder approval	June 2018	June 2018
Estimated number of units issuable	26,900,000	25,300,000
Valuation date stock price	$1.07	$1.22

Additional Advance Warrant Shares [Member]

Schedule of Assumptions Used to value of Liability

Significant assumptions used to value this liability are as follows:

	March 28, 2018 (Date of Issuance)			March 31, 2018
Volatility		55.20	%		55.20	%
Risk free interest rate		1.70	%		1.70	%
Term (in years)		7			7
Dividend rate		0	%		0	%
Valuation date stock price	$	1.07		$	1.22
Probability of issuance		80	%		80	%