Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.22.1
STOCKHOLDERS’ EQUITY (Tables)
9 Months Ended
Mar. 31, 2022
Equity [Abstract]  
SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the nine months ended March 31, 2022 is reflected below:

  

    Number of Warrants     Weighted Average Exercise Price Per Warrant     Weighted Average Remaining Contract Term (# years)  
Warrants outstanding and exercisable at June 30, 2021     214,883     $ 4.49          
Warrants issued     1,071,430     $ 7.00          
Warrants outstanding and exercisable at March 31, 2022     1,286,313     $ 6.58       4.11  

 

Warrant detail for the nine months ended March 31, 2021 is reflected below:

 

    Number of Warrants     Weighted Average Exercise Price Per Warrant    

Weighted Average

Remaining Contract Term (# years)

 
Warrants outstanding and exercisable at June 30, 2020     83,205     $ 4.00          
Warrants issued     185,955     $ 4.80          
Warrants exercised     (32,977 )   $ 4.80          
Warrants forfeited     (11,700 )   $ 4.80          
Warrants outstanding at March 31, 2021     224,483     $ 4.50       3.22  
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in the Company’s stock options during the nine months ended March 31, 2022 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, 2021     531,205     $ 11.02          
Granted     -     $ -          
Exercised     (3,400 )   $ 4.65          
Forfeited and cancelled     (15,612 )   $ 14.28          
Outstanding and exercisable at March 31, 2022     512,193     $ 10.97       5.91  

 

Activity in the Company’s stock options during the nine months ended March 31, 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          
Granted     -     $ -          
Exercised     (15,812 )   $ 5.77          
Forfeited and cancelled     (18,932 )   $ 12.45          
Outstanding at March 31, 2021     544,840     $ 11.10       6.81  
Exercisable at March 31, 2021     490,493     $ 10.91       6.67  
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the nine months ended March 31, 2022 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, 2021     131,652     $ 9.25          
Granted     179,614     $ 5.75          
Settled     (4.578 )   $ 11.56          
Forfeited and cancelled     (35,542 )   $ 6.95          
Outstanding at March 31, 2022     271,146     $ 7.19       2.34  

 

 

Activity in RSUs during the nine months ended March 31, 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     134,865     $ 8.88          
Forfeited and cancelled     (6,542 )   $ 8.88          
Outstanding at March 31, 2021     128,323     $ 8.88       2.91  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

The following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants:

 

    2022     2021     2022     2021  
    Three Months Ended
March 31,
    Nine Months Ended
March 31,
 
    2022     2021     2022     2021  
Research and development   $ 32,000     $ 48,000     $ 122,000     $ 146,000  
Selling and administrative     120,000       180,000       479,000       504,000  
Total stock-based compensation expense   $ 152,000     $ 228,000     $ 601,000     $ 650,000