Fair Value Measurement (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of estimated fair values of the liabilities measured on a recurring basis

At June 30, 2020 and 2019, the estimated fair values of the liabilities measured on a recurring basis are as follows:


	Fair Value Measurements at
	June 30, 2020:
	(Level 1)		(Level 2)		(Level 3)

Derivative liability – Warrants	$	—		—	$	—
Total derivatives	$	—	$	—	$	—


	Fair Value Measurements at
	June 30, 2019:
	(Level 1)		(Level 2)		(Level 3)

Derivative liability – Warrants	$	—		—	$	1,645,606
Total derivatives	$	—	$	—	$	1,645,606

Schedule of projected annual volatility


1 Year
6/30/19	76.1	%

Schedule of activity for liabilities measured at estimated fair value using unobservable inputs

The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for the years ended June 30, 2018, 2019 and 2020:

Fair Value Measurement

Using Significant

Unobservable Inputs


	Obligation		Derivative		Derivative
	to issue		liability –		liability -
	shares		Series C		warrant
Balance at July 1, 2017	$	—	$	32,213	$	2,015,354
Additions during the year		5,864,337		—		—
Change in fair value		(819,994)		(16,764)		(1,717,262)
Transfer in and/or out of Level 3		(5,044,343)		(15,449)		—
Balance at July 1, 2018	$	—	$	—	$	298,092
Additions during the year		—		—		1,527,259
Change in fair value		—		—		(179,745)
Transfer in and/or out of Level 3		—		—		—
Balance at July 1, 2019	$	—	$	—	$	1,645,606
Additions during the year		—		—		2,066,425
Change in fair value		—		—		5,845,313
Transfer in and/or out of Level 3		—		—		(9,557,344)
Balance at June 30, 2020	$	—	$	—	$	—