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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities        
Net loss $ (8,196,542) $ (10,509,403) $ (17,318,060) $ (8,960,852)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation expense 2,200 2,707 4,870 2,627
Stock-based compensation 2,367,001 415,844 1,213,996 517,999
Amortization of deferred financing costs 661,167 661,168 1,029,183
Change in fair value of derivative liabilities 54,636 54,634 708,901
Fair value of shares relinquished (394,410) (394,410)
Loss on promissory note extinguishment 3,774,468 3,774,468
Changes in operating assets and liabilities:        
Prepaid expenses and other assets 96,882 (110,744) 270,167 42,741
Other receivable 176,980 7,617 (169,363) 224,980
Other assets 5,880
Lease payment receivable 34,319 31,570 64,486 59,319
Accounts payable (401,696) (406,549) 158,920 157,392
Accrued expenses (492,919) 1,648,372 1,181,270 215,632
Net cash used in operating activities (6,413,775) (4,818,845) (10,497,854) (6,002,078)
Cash flows from investing activities        
Purchase of investments (84,849,198)
Sale of investments 4,684,375
Purchase of fixed assets (12,391)
Net cash used in investing activities (80,164,823) (12,391)
Cash flows from financing activities        
Proceeds from promissory notes and warrants, net of fees 6,534,400
Proceeds from sale of equity units, net of costs 109,447,482 5,177,085 17,760,635
Proceeds from warrants exercised for common stock 4,447,038  
Payment/proceeds on notes payable (253,957) (170,432) (285,170) 8,500
Net cash provided by financing activities 113,640,563 5,006,653 17,475,465 6,542,900
Net increase in cash and cash equivalents 27,061,965 187,808 6,977,611 528,431
Cash and cash equivalents at beginning of the period 9,216,554 2,238,943 2,238,943 1,710,512
Cash and cash equivalents at end of the period 36,278,519 2,426,751 9,216,554 2,238,943
Cash paid during the period for:        
Income taxes
Interest 1,509 5,933 2,559
Non-cash investing and financing transactions:        
Notes payable issued in connection with director and officer insurance policies 364,204 285,170
Derivative liabilities associated with issuance of promissory notes 3,309,880
Issuance of warrants to promissory notes payable placement agent 200,658
Issuance of warrants to holders of promissory notes payable 1,268,832
Cashless exercise of warrants for common stock 43 100 18
Cashless exercise of options for common stock 62
Issuance of restricted stock for services 4
Write off for derivative liability due to adoption of ASU 2017-11 59,397 59,397
Conversion of promissory notes and accrued interest to common stock $ 8,030,365 $ 8,030,365