65 our operations have historically consumed cash and are expected to continue to require cash , but at a declining rate . the company 's revenue has increased 14 % and 26 % for each of the past two fiscal years and is expected to continue to increase , allowing the company to rely less on its existing cash balance and proceeds from financing transactions . despite increased revenue , cash used in operations during fiscal year 2018 was $ 16 million compared to $ 13.8 million in 2017 , due to the company completing the build-out of its 's commercial infrastructure in 2018. as of the date of this report , we expect our commercial costs to remain approximately flat or to increase modesty as we continue to focus on revenue growth . our current asset position of $ 9.5 million plus the proceeds expected from ongoing product sales will be used to fund operations . we will access the capital markets to fund operations if and when needed , and to the extent it becomes probable that existing cash and other current assets may become exhausted . the timing and amount of capital that may be raised is dependent on market conditions and the terms and conditions upon which investors would require to provide such capital . there is no guarantee that capital will be available on terms that we consider to be in the best interests of the company and our stockholders , or at all . however , we have been successful is accessing the capital markets in the past and are confident in our ability to access the capital markets again , if needed . since the company does not have a cash balance as of june 30 , 2018 , sufficient to cover potential operating losses for the twelve months following the expected filing date of this annual report , asu 2014-15 , presentation of financial statements—going concern ( subtopic 205-40 ) requires us to report that there is an indication that substantial doubt about the company 's ability to continue as a going concern exists . if we are unable to raise adequate capital in the future when it is required , we can adjust our operating plans to reduce the magnitude of the capital need under our existing operating plan . some of the adjustments that could be made include delays of and reductions to product support programs , reductions in headcount , narrowing the scope of one or more of our commercialization programs , or reductions to our research and development programs . without sufficient operating capital , we could be required to relinquish rights to product candidates on less favorable terms than we would otherwise choose . this may lead to impairment or other charges , which could materially affect our balance sheet and operating results . we have incurred accumulated net losses since inception , and at june 30 , 2018 , we had an accumulated deficit of $ 79.3 million . our net loss declined to $ 10.2 million from $ 22.5 million for fiscal 2018 and 2017 , respectively . we used $ 16.0 million and $ 13.8 million in cash from operations during fiscal 2018 and 2017. results of operations—june 30 , 2018 compared to june 30 , 2017 results of operations for the year ended june 30 , 2018 ( “ fiscal 2018 ” ) and the year ended june 30 , 2017 ( “ fiscal 2017 ” ) reflected losses of approximately $ 10.2 million and $ 22.5 million , respectively . the decline in losses was driven by increasing revenue , and by non-operating gains resulting from the revaluation of derivative liability related to outstanding warrants and to the reduction of expected milestone payments due to the revaluation of contingent consideration due to gaap , primarily related to natesto and the abandonment of the fiera product offering . revenue product revenue we continue to generate material revenues from the commercialization of our products and have recently launched a new product , zolpimist , that competes in the $ 1.8 billion prescription sleep aid market . we recognized approximately $ 3.7 million and $ 3.2 million of net revenue from natesto , prostascint , primsol , mioxsys and fiera sales during fiscal 2018 and 2017 , respectively . the addition of zolpimist is expected to be additive to the growing base of revenue from natesto and mioxsys . since we have discontinued the non-strategic assets primsol , prostascint and fiera , we do not expect to recognize revenue from those products in fiscal year 2019. the majority of our fiscal year 2018 revenue came from natesto sales . revenue from natesto sales increased 155 % in fiscal 2018 compared to fiscal 2017 . 66 as is customary in the pharmaceutical industry , our gross product sales are subject to a variety of deductions in arriving at reported net product sales . provisions for these deductions are estimated and recorded concurrently with the recognition of gross revenue from product sales and include coupons , discounts , chargebacks , distributor fees , processing fees , allowances for returns and medicaid rebates . provision balances relating to estimated amounts payable to direct customers are netted against accounts receivable and balances relating to indirect customers are included in accounts payable and accrued liabilities . the provisions recorded to reduce gross product sales and net product sales are as follows : replace_table_token_5_th expenses cost of sales the cost of sales of $ 2.1 million and $ 1.4 million recognized for fiscal 2018 and fiscal 2017 , respectively , are related to the natesto , zolpimist , prostascint , primsol , fiera , and the mioxsys and redoxsys systems . story_separator_special_tag the increase in cost of sales for fiscal 2018 was due to an increase in product sales and the impairment of the awh inventory , which represented $ 0.8 million or 38 % of the cost of sales for fiscal 2018. we expect cost of sales to increase in the future due to and in line with growth in revenue from product sales . research and development research and development costs consist of clinical trials and sponsored research , sponsored research – related party and consultants and other . these costs relate solely to research and development without an allocation of general and administrative expenses and are summarized as follows : replace_table_token_6_th comparison of years ended june 30 , 2018 and 2017 research and development expenses decreased $ 1.2 million , or 87.5 % , in fiscal 2018 compared to fiscal 2017. the decrease was due primarily to focusing our resource commitment on our commercial products and our decision to abandon sales and development support of prostascint in fiscal 2018 , for which we reversed a previously accrued liability in the amount of $ 398,000 which reduced fiscal year 2018 research and development expenses . we anticipate research and development expense to increase in fiscal 2019 as we anticipate funding a study to further support the clinical application of our mioxsys system , and to fund further clinical studies for natesto to potentially support new claims and to comply with fda post-marketing study requirements . 67 sales , general and administrative sales , general and administrative expenses consist of labor costs , including personnel costs for employees in executive , commercial , business development and operational functions ; stock-based compensation ; patents and intellectual property ; professional fees including legal , auditing , accounting , investor relations , shareholder expense and printing and filing of sec reports ; occupancy , travel and other expenses including rent , governmental and regulatory compliance , insurance , and professional subscriptions ; and directors fees . these costs are summarized as follows : replace_table_token_7_th comparison of years ended june 30 , 2018 and 2017 sales , general and administrative costs remained approximately level in fiscal 2018 compared to fiscal 2017. the most significant expense was due to labor costs , patent costs , and occupancy , travel and other , which were related to increased labor rates , fda fees , and increased spend on marketing efforts . this increase was offset by stock-based compensation , compared to fiscal 2017 , due to a reduction in the fair value of the stock options and restricted stock that was issued to directors , executives and employees . we expect future selling , general and administrative expenses to remain consistent with historical spending rates . impairment of intangible assets the expense related to impairment of intangible assets was $ 1.9 million for fiscal 2018. the impairment was related to the discontinuation of the fiera product line due to lower than expected sales performance of the fiera products and the contract manufacturer no longer supporting the product . impairment of intangible assets was $ 1.3 million for fiscal 2017 , which was related to the impairment of the prostascint product which was discontinued in fiscal year 2018. amortization of intangible assets amortization expense for the remaining intangible assets was $ 1.6 million and $ 1.7 million for fiscal 2018 and fiscal 2017 , respectively . this expense is related to corresponding amortization of its finite-lived intangible assets . we expect this expense to remain flat for fiscal 2019. net cash used in operating activities during fiscal 2018 , our operating activities consumed $ 16.0 million of cash . our cash use was $ 5.8 million greater than our net loss , primarily due to non-cash gains such as derivative income and other gains which reduced our fiscal 2018 losses , offset by depreciation , amortization and accretion , and the expense related to the impairment of intangible assets which increased losses in fiscal 2018. increases in our prepaid expense and decreases in accounts payable and accrued liabilities balance increased cash use in 2018 while an increase in accrued compensation decreased cash use in 2018. during fiscal 2017 , our operating activities used $ 13.8 million in cash . the use of cash was approximately $ 8.7 million lower than the net loss due primarily to non-cash charges for asset impairment , stock-based compensation , issuance of restricted stock , depreciation , amortization and accretion , amortization of prepaid research and development - related party , common stock issued to executives , warrants issued to initial investors , and an increase in accounts payable . these charges were offset by a decrease in accrued compensation , accrued liabilities , and accounts receivable , a gain on the sale of an asset , and derivative income . net cash used in investing activities during fiscal 2018 , cash of $ 484,000 was used to acquire fixed and operating assets in addition to a deposit for office space and a royalty payment . during fiscal 2017 , cash was received through the sale of primsol , the sale of our common stock investment in acerus and the merger with nuelle , inc. cash was also used to make contractual payments for acquired products , and to purchase fixed assets . 68 story_separator_special_tag style= `` width : 33 % `` > 69 trt market dynamics several recent developments in the u.s. testosterone replacement therapy market may favorably impact natesto 's near and longer-term market position as an fda-approved treated with an established efficacy and safety profile and being actively marketed by a focused sales infrastructure . first , the market leading product androgel , has experienced diminished promotion over the last several quarters due to the product 's relative age and importance in the abbvie product portfolio . as such , there is limited field-based promotion and sampling to high prescribing physicians . also , eli lilly formally discontinued axiron in

net cash from financing activities net cash of $ 22.7 million was provided by financing activities during fiscal 2018. the private placement completed in august 2017 contributed gross proceeds of $ 11.8 million , which was reduced by offering costs of $ 1.4 million . the march 2018 offering provided gross proceeds of $ 12.9 million , which was reduced by offering costs of $ 1.3 million . finally , we received aggregate proceeds of $ 0.7 million from the exercise of warrants by investors . net cash of $ 10.2 million provided by financing activities during fiscal 2017 was primarily related to our warrant tender offer of $ 2.2 million offset by issuance costs of $ 312,000 , our registered public offering of $ 8.6 million of common stock and warrants offset by cash issuance costs of $ 998,000 , and the issuance of common stock to lincoln park capital of $ 740,000 offset by issuance costs of $ 91,000. recent developments introduction of natesto patient reimbursement support services during the company 's fourth quarter , several factors contributed to accelerate natesto revenue growth and to position natesto for further growth . in the third quarter of 2018 , the company piloted an initiative aimed at improving patient access , increasing prescription fill rates , and improving net revenue per prescription . this initiative , called the natesto support program , introduced a third-party resource that assists patients and physician offices with the insurance approval process for natesto . the program was rolled out across all sales territories in the fourth quarter of 2018. in conjunction with the roll-out of this initiative , the company eliminated company funded $ 0 prescription vouchers .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash from financing activities net cash of $ 22.7 million was provided by financing activities during fiscal 2018. the private placement completed in august 2017 contributed gross proceeds of $ 11.8 million , which was reduced by offering costs of $ 1.4 million . the march 2018 offering provided gross proceeds of $ 12.9 million , which was reduced by offering costs of $ 1.3 million . finally , we received aggregate proceeds of $ 0.7 million from the exercise of warrants by investors . net cash of $ 10.2 million provided by financing activities during fiscal 2017 was primarily related to our warrant tender offer of $ 2.2 million offset by issuance costs of $ 312,000 , our registered public offering of $ 8.6 million of common stock and warrants offset by cash issuance costs of $ 998,000 , and the issuance of common stock to lincoln park capital of $ 740,000 offset by issuance costs of $ 91,000. recent developments introduction of natesto patient reimbursement support services during the company 's fourth quarter , several factors contributed to accelerate natesto revenue growth and to position natesto for further growth . in the third quarter of 2018 , the company piloted an initiative aimed at improving patient access , increasing prescription fill rates , and improving net revenue per prescription . this initiative , called the natesto support program , introduced a third-party resource that assists patients and physician offices with the insurance approval process for natesto . the program was rolled out across all sales territories in the fourth quarter of 2018. in conjunction with the roll-out of this initiative , the company eliminated company funded $ 0 prescription vouchers .
```    
 Suspicious Activity Report : 65 our operations have historically consumed cash and are expected to continue to require cash , but at a declining rate . the company 's revenue has increased 14 % and 26 % for each of the past two fiscal years and is expected to continue to increase , allowing the company to rely less on its existing cash balance and proceeds from financing transactions . despite increased revenue , cash used in operations during fiscal year 2018 was $ 16 million compared to $ 13.8 million in 2017 , due to the company completing the build-out of its 's commercial infrastructure in 2018. as of the date of this report , we expect our commercial costs to remain approximately flat or to increase modesty as we continue to focus on revenue growth . our current asset position of $ 9.5 million plus the proceeds expected from ongoing product sales will be used to fund operations . we will access the capital markets to fund operations if and when needed , and to the extent it becomes probable that existing cash and other current assets may become exhausted . the timing and amount of capital that may be raised is dependent on market conditions and the terms and conditions upon which investors would require to provide such capital . there is no guarantee that capital will be available on terms that we consider to be in the best interests of the company and our stockholders , or at all . however , we have been successful is accessing the capital markets in the past and are confident in our ability to access the capital markets again , if needed . since the company does not have a cash balance as of june 30 , 2018 , sufficient to cover potential operating losses for the twelve months following the expected filing date of this annual report , asu 2014-15 , presentation of financial statements—going concern ( subtopic 205-40 ) requires us to report that there is an indication that substantial doubt about the company 's ability to continue as a going concern exists . if we are unable to raise adequate capital in the future when it is required , we can adjust our operating plans to reduce the magnitude of the capital need under our existing operating plan . some of the adjustments that could be made include delays of and reductions to product support programs , reductions in headcount , narrowing the scope of one or more of our commercialization programs , or reductions to our research and development programs . without sufficient operating capital , we could be required to relinquish rights to product candidates on less favorable terms than we would otherwise choose . this may lead to impairment or other charges , which could materially affect our balance sheet and operating results . we have incurred accumulated net losses since inception , and at june 30 , 2018 , we had an accumulated deficit of $ 79.3 million . our net loss declined to $ 10.2 million from $ 22.5 million for fiscal 2018 and 2017 , respectively . we used $ 16.0 million and $ 13.8 million in cash from operations during fiscal 2018 and 2017. results of operations—june 30 , 2018 compared to june 30 , 2017 results of operations for the year ended june 30 , 2018 ( “ fiscal 2018 ” ) and the year ended june 30 , 2017 ( “ fiscal 2017 ” ) reflected losses of approximately $ 10.2 million and $ 22.5 million , respectively . the decline in losses was driven by increasing revenue , and by non-operating gains resulting from the revaluation of derivative liability related to outstanding warrants and to the reduction of expected milestone payments due to the revaluation of contingent consideration due to gaap , primarily related to natesto and the abandonment of the fiera product offering . revenue product revenue we continue to generate material revenues from the commercialization of our products and have recently launched a new product , zolpimist , that competes in the $ 1.8 billion prescription sleep aid market . we recognized approximately $ 3.7 million and $ 3.2 million of net revenue from natesto , prostascint , primsol , mioxsys and fiera sales during fiscal 2018 and 2017 , respectively . the addition of zolpimist is expected to be additive to the growing base of revenue from natesto and mioxsys . since we have discontinued the non-strategic assets primsol , prostascint and fiera , we do not expect to recognize revenue from those products in fiscal year 2019. the majority of our fiscal year 2018 revenue came from natesto sales . revenue from natesto sales increased 155 % in fiscal 2018 compared to fiscal 2017 . 66 as is customary in the pharmaceutical industry , our gross product sales are subject to a variety of deductions in arriving at reported net product sales . provisions for these deductions are estimated and recorded concurrently with the recognition of gross revenue from product sales and include coupons , discounts , chargebacks , distributor fees , processing fees , allowances for returns and medicaid rebates . provision balances relating to estimated amounts payable to direct customers are netted against accounts receivable and balances relating to indirect customers are included in accounts payable and accrued liabilities . the provisions recorded to reduce gross product sales and net product sales are as follows : replace_table_token_5_th expenses cost of sales the cost of sales of $ 2.1 million and $ 1.4 million recognized for fiscal 2018 and fiscal 2017 , respectively , are related to the natesto , zolpimist , prostascint , primsol , fiera , and the mioxsys and redoxsys systems . story_separator_special_tag the increase in cost of sales for fiscal 2018 was due to an increase in product sales and the impairment of the awh inventory , which represented $ 0.8 million or 38 % of the cost of sales for fiscal 2018. we expect cost of sales to increase in the future due to and in line with growth in revenue from product sales . research and development research and development costs consist of clinical trials and sponsored research , sponsored research – related party and consultants and other . these costs relate solely to research and development without an allocation of general and administrative expenses and are summarized as follows : replace_table_token_6_th comparison of years ended june 30 , 2018 and 2017 research and development expenses decreased $ 1.2 million , or 87.5 % , in fiscal 2018 compared to fiscal 2017. the decrease was due primarily to focusing our resource commitment on our commercial products and our decision to abandon sales and development support of prostascint in fiscal 2018 , for which we reversed a previously accrued liability in the amount of $ 398,000 which reduced fiscal year 2018 research and development expenses . we anticipate research and development expense to increase in fiscal 2019 as we anticipate funding a study to further support the clinical application of our mioxsys system , and to fund further clinical studies for natesto to potentially support new claims and to comply with fda post-marketing study requirements . 67 sales , general and administrative sales , general and administrative expenses consist of labor costs , including personnel costs for employees in executive , commercial , business development and operational functions ; stock-based compensation ; patents and intellectual property ; professional fees including legal , auditing , accounting , investor relations , shareholder expense and printing and filing of sec reports ; occupancy , travel and other expenses including rent , governmental and regulatory compliance , insurance , and professional subscriptions ; and directors fees . these costs are summarized as follows : replace_table_token_7_th comparison of years ended june 30 , 2018 and 2017 sales , general and administrative costs remained approximately level in fiscal 2018 compared to fiscal 2017. the most significant expense was due to labor costs , patent costs , and occupancy , travel and other , which were related to increased labor rates , fda fees , and increased spend on marketing efforts . this increase was offset by stock-based compensation , compared to fiscal 2017 , due to a reduction in the fair value of the stock options and restricted stock that was issued to directors , executives and employees . we expect future selling , general and administrative expenses to remain consistent with historical spending rates . impairment of intangible assets the expense related to impairment of intangible assets was $ 1.9 million for fiscal 2018. the impairment was related to the discontinuation of the fiera product line due to lower than expected sales performance of the fiera products and the contract manufacturer no longer supporting the product . impairment of intangible assets was $ 1.3 million for fiscal 2017 , which was related to the impairment of the prostascint product which was discontinued in fiscal year 2018. amortization of intangible assets amortization expense for the remaining intangible assets was $ 1.6 million and $ 1.7 million for fiscal 2018 and fiscal 2017 , respectively . this expense is related to corresponding amortization of its finite-lived intangible assets . we expect this expense to remain flat for fiscal 2019. net cash used in operating activities during fiscal 2018 , our operating activities consumed $ 16.0 million of cash . our cash use was $ 5.8 million greater than our net loss , primarily due to non-cash gains such as derivative income and other gains which reduced our fiscal 2018 losses , offset by depreciation , amortization and accretion , and the expense related to the impairment of intangible assets which increased losses in fiscal 2018. increases in our prepaid expense and decreases in accounts payable and accrued liabilities balance increased cash use in 2018 while an increase in accrued compensation decreased cash use in 2018. during fiscal 2017 , our operating activities used $ 13.8 million in cash . the use of cash was approximately $ 8.7 million lower than the net loss due primarily to non-cash charges for asset impairment , stock-based compensation , issuance of restricted stock , depreciation , amortization and accretion , amortization of prepaid research and development - related party , common stock issued to executives , warrants issued to initial investors , and an increase in accounts payable . these charges were offset by a decrease in accrued compensation , accrued liabilities , and accounts receivable , a gain on the sale of an asset , and derivative income . net cash used in investing activities during fiscal 2018 , cash of $ 484,000 was used to acquire fixed and operating assets in addition to a deposit for office space and a royalty payment . during fiscal 2017 , cash was received through the sale of primsol , the sale of our common stock investment in acerus and the merger with nuelle , inc. cash was also used to make contractual payments for acquired products , and to purchase fixed assets . 68 story_separator_special_tag style= `` width : 33 % `` > 69 trt market dynamics several recent developments in the u.s. testosterone replacement therapy market may favorably impact natesto 's near and longer-term market position as an fda-approved treated with an established efficacy and safety profile and being actively marketed by a focused sales infrastructure . first , the market leading product androgel , has experienced diminished promotion over the last several quarters due to the product 's relative age and importance in the abbvie product portfolio . as such , there is limited field-based promotion and sampling to high prescribing physicians . also , eli lilly formally discontinued axiron in

