v3.20.4
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities    
Net loss $ (7,373,838) $ (1,912,743)
Adjustments to reconcile net loss to net cash and cash equivalents from operating activities:    
Depreciation and amortization 339,953 217,810
Stock compensation expense 429,488 280,245
Amortization of debt costs 182,900  
Interest expense on notes payable converted to common stock 3,430,931
Value of common stock issued in exchange for consulting services 789,600  
Changes in operating assets and liabilities which (used) provided cash:    
Accounts receivable 55,680 (86,120)
Payments to university partners (4,510)
Prepaid expenses and other assets (894,959) (1,385)
Accounts payable (38,759) (150,642)
Deferred revenue 359,529 99,593
Accrued and other liabilities (29,282) 26,682
Net cash and cash equivalents used in operating activities (2,748,757) (1,531,070)
Cash Flows from Investing Activities    
Purchase of property and equipment (46,749) (7,810)
Investment in capitalized software (406,776) (474,472)
Net cash and cash equivalents used in investing activities (453,525) (482,282)
Cash Flows from Financing Activities    
Issuance of common stock – net of issuance costs 12,796,230 4,770,222
Net Increase in Cash and Cash Equivalents 9,593,948 2,756,870
Cash and Cash Equivalents - Beginning of period 4,093,874 1,008,902
Cash and Cash Equivalents - End of period 13,687,822 3,765,772
Significant Noncash Transactions:    
Acquisition of capitalized software included in accounts payable and accrued liabilities 56,285 39,275
Conversion of convertible notes payable, including accrued interest of $73,315, into $113 of common stock 2,255,745
Issuance of common stock in exchange for consulting services $ 789,600

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