Stockholders' Deficit (Tables)
|
6 Months Ended |
Dec. 31, 2020 |
|---|
| Equity [Abstract] |
|
| Schedule of Stock Warrant Activity |
Warrant detail for the
six months ended December 31, 2020 is reflected below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price Per Warrant |
|
|
Remaining Contract Term (# years) |
|
| Warrants outstanding and exercisable at June 30, 2020 |
|
|
83,205 |
|
|
$ |
4.00 |
|
|
|
2.01 |
|
| Warrants issued |
|
|
185,955 |
|
|
$ |
4.80 |
|
|
|
5.00 |
|
| Warrants forfeited |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Warrants outstanding at December 31, 2020 |
|
|
269,160 |
|
|
$ |
4.55 |
|
|
|
3.66 |
|
| Warrants exercisable at December 31, 2020 |
|
|
83,205 |
|
|
$ |
4.00 |
|
|
|
1.50 |
|
Warrant detail for the
six months ended December 31, 2019 is reflected below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price Per Warrant |
|
|
Remaining Contract Term (# years) |
|
| Warrants outstanding and exercisable at June 30, 2019 |
|
|
8,333 |
|
|
$ |
20.00 |
|
|
|
0.25 |
|
| Warrants issued |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Warrants forfeited |
|
|
(8,333 |
) |
|
$ |
20.00 |
|
|
|
- |
|
| Warrants outstanding and exercisable at December 31, 2019 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
| Schedule of Stock Options Activity |
Activity in stock options
during the six months ended December 31, 2020 and related balances outstanding as of that date are reflected below:
| |
|
Number of Shares |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Contract Term
(# years)
|
|
| Outstanding at June 30, 2020 |
|
|
579,584 |
|
|
$ |
11.00 |
|
|
|
7.55 |
|
| Granted |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Exercised |
|
|
(10,750 |
) |
|
$ |
4.60 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(7,463 |
) |
|
$ |
7.31 |
|
|
|
- |
|
| Outstanding at December 31, 2020 |
|
|
561,371 |
|
|
$ |
11.17 |
|
|
|
6.87 |
|
| Exercisable at December 31, 2020 |
|
|
493,224 |
|
|
$ |
10.94 |
|
|
|
6.67 |
|
Activity in stock options
during the six months ended December 31, 2019 and related balances outstanding as of that date are reflected below:
| |
|
Number of Shares |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining
Contract Term
(# years)
|
|
| Outstanding at June 30, 2019 |
|
|
580,171 |
|
|
$ |
11.05 |
|
|
|
8.59 |
|
| Granted |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Exercised |
|
|
(4,437 |
) |
|
$ |
4.69 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(7,093 |
) |
|
$ |
12.32 |
|
|
|
- |
|
| Outstanding at December 31, 2019 |
|
|
568,641 |
|
|
$ |
11.08 |
|
|
|
8.07 |
|
| Exercisable at December 31, 2019 |
|
|
377,428 |
|
|
$ |
10.47 |
|
|
|
7.71 |
|
|
| Schedule of Restricted Stock Units Activity |
Activity in RSUs during
the six months ended December 31, 2020 and related balances outstanding as of that date are reflected below:
| |
|
Number of Shares |
|
|
Weighted Average Grant date Fair Value |
|
|
Weighted Average Remaining Contract Term
(# years)
|
|
| Outstanding at June 30, 2020 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Granted |
|
|
134,865 |
|
|
$ |
8.88 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(4,228 |
) |
|
$ |
8.88 |
|
|
|
- |
|
| Outstanding at December 31, 2020 |
|
|
130,637 |
|
|
$ |
8.88 |
|
|
|
3.15 |
|
|
| Schedule of Stock-Based Compensation Expenses |
The following table summarizes
stock-based compensation expense for employee and non-employee option grants and RSUs:
| |
|
Three Months Ended
December 31, |
|
|
Six Months Ended
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Research and development |
|
$ |
45,000 |
|
|
$ |
54,000 |
|
|
$ |
98,000 |
|
|
$ |
108,000 |
|
| Selling and administrative |
|
|
152,000 |
|
|
|
395,000 |
|
|
|
324,000 |
|
|
|
792,000 |
|
| Total stock-based compensation expense |
|
$ |
197,000 |
|
|
$ |
449,000 |
|
|
$ |
422,000 |
|
|
$ |
900,000 |
|
|
| Schedule of Fair Value Assumptions of Stock Options |
The Company uses the Black-Scholes
valuation model to calculate the fair value of stock options. The fair value of stock options was measured at the grant date using
the assumptions (annualized percentages) in the table below:
| |
|
Six Months Ended
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Expected volatility |
|
|
0 |
% |
|
|
111.4% -112.2 |
% |
| Risk free interest rate |
|
|
0 |
% |
|
|
2.43% - 2.45 |
% |
| Forfeiture rate |
|
|
20 |
% |
|
|
20 |
% |
| Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
| Expected term (years) |
|
|
0 |
|
|
|
5.61 |
|
|