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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 13,633,823 $ (23,082,189)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 28,886 15,261
Non-cash interest expense 104,108 160,711
Stock-based compensation 1,041,900 853,241
Deferred income tax benefit (500,000) 0
Changes in operating assets and liabilities:    
Accounts receivable 15,116,822 0
Prepaid expenses and other assets (277,283) 481,877
Accounts payable (847,600) 3,992,124
Accrued expenses (4,968,942) (320,908)
Deferred revenue (25,002,344) 0
Other non-current liabilities 112,174 168,358
Net cash provided by (used in) operating activities (1,558,456) (17,731,525)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from matured investments 250,000 0
Purchases of property and equipment (9,500) 0
Net cash used in investing activities 240,500 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on capital lease obligations (14,324) (13,534)
Payment of withholding taxes related to restricted stock units (24,380) 0
Payments on notes payable obligations (4,000,000) (2,000,000)
Proceeds from exercise of warrants 114,384 0
Proceeds from the sale of common stock and warrants, net of costs 0 23,856,972
Net cash (used in) provided by financing activities (3,924,320) 21,843,438
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (5,242,276) 4,111,913
CASH AND CASH EQUIVALENTS, beginning of period 40,200,324 8,002,668
CASH AND CASH EQUIVALENTS, end of period 34,958,048 12,114,581
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 632,185 891,717
Unrealized gain (loss) on available-for-sale investments 590 (62)
Non-cash equity financing costs in accrued expenses $ 0 $ 50,861