Stockholders' Deficit (Tables)
|
12 Months Ended |
Jun. 30, 2021 |
|---|
| Equity [Abstract] |
|
| Schedule of Stock Warrant Activity |
Warrant detail for the year ended
June 30, 2021 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 exercised |
|
|
(40,993 |
) |
|
$ |
4.80 |
|
|
|
- |
|
| Warrants forfeited |
|
|
(13,284 |
) |
|
$ |
4.80 |
|
|
|
- |
|
| Warrants outstanding and exercisable at June 30, 2021 |
|
|
214,883 |
|
|
$ |
4.49 |
|
|
|
2.92 |
|
Warrant detail for the year ended
June 30, 2020 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 |
|
|
83,205 |
|
|
$ |
4.00 |
|
|
|
3.00 |
|
| Warrants forfeited |
|
|
(8,333 |
) |
|
$ |
20.00 |
|
|
|
- |
|
| Warrants outstanding and exercisable at June 30, 2020 |
|
|
83,205 |
|
|
$ |
4.00 |
|
|
|
2.01 |
|
|
| Schedule of Stock Options Activity |
Activity in stock options during
the year ended June 30, 2021 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 |
|
| Exercised |
|
|
(22,760 |
) |
|
$ |
6.16 |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(25,619 |
) |
|
$ |
14.62 |
|
|
|
|
|
| Outstanding at June 30, 2021 |
|
|
531,205 |
|
|
$ |
11.02 |
|
|
|
6.73 |
|
| Exercisable at June 30, 2021 |
|
|
490,323 |
|
|
$ |
10.87 |
|
|
|
6.64 |
|
Activity in stock options during
the year ended June 30, 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, 2019 |
|
|
580,171 |
|
|
$ |
11.05 |
|
|
|
8.59 |
|
| Granted |
|
|
19,272 |
|
|
$ |
8.45 |
|
|
|
|
|
| Exercised |
|
|
(5,249 |
) |
|
$ |
4.68 |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(14,610 |
) |
|
$ |
11.86 |
|
|
|
|
|
| Outstanding at June 30, 2020 |
|
|
579,584 |
|
|
$ |
11.00 |
|
|
|
7.55 |
|
| Exercisable at June 30, 2020 |
|
|
454,156 |
|
|
$ |
10.77 |
|
|
|
7.27 |
|
|
| Schedule of Restricted Stock Units Activity |
Activity in RSUs during the year
ended June 30, 2021 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 |
|
|
153,177 |
|
|
$ |
9.20 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(21,525 |
) |
|
$ |
8.88 |
|
|
|
- |
|
| Outstanding at June 30, 2021 |
|
|
131,652 |
|
|
$ |
9.25 |
|
|
|
2.72 |
|
|
| Schedule of Stock-Based Compensation Expenses |
We allocated stock-based compensation
expense included in the consolidated statements of operations for employee option grants and non-employee option grants as follows:
| Years ended June 30, |
|
2021 |
|
|
2020 |
|
| Research and development |
|
$ |
178,000 |
|
|
$ |
215,000 |
|
| Selling and administrative |
|
|
619,000 |
|
|
|
1,588,000 |
|
| Total stock-based compensation expense |
|
$ |
797,000 |
|
|
$ |
1,803,000 |
|
|
| 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:
| Years ended June 30, |
|
2021 |
|
|
2020 |
|
| Expected volatility |
|
|
0 |
% |
|
|
100.6% - 119.6 |
% |
| Risk free interest rate |
|
|
0 |
% |
|
|
0.35% - 2.00 |
% |
| Forfeiture rate |
|
|
20 |
% |
|
|
20 |
% |
| Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
| Expected term (years) |
|
|
0 |
|
|
|
6.35 |
|
|