Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.23.3
STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Sep. 30, 2023
Equity [Abstract]  
SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the three months ended September 30, 2023 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, 2023     1,455,119     $ 6.10          
Warrants issued     -                  
Warrants exercised     (83,205 )   $ 4.00          
Warrants outstanding and exercisable at September 30, 2023     1,371,914     $ 6.23       3.18  

 

Warrant detail for the three months ended September 30, 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, 2022     1,455,119     $ 4.496.10          
Warrants issued     -     $ -          
Warrants exercised     -                  
Warrants outstanding and exercisable at September 30, 2022     1,455,119     $ 6.10       3.98  
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in the Company’s stock options during the three months ended September 30, 2023 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, 2023     969,434     $ 6.45          
Granted     -     $ -          
Exercised     -     $ -          
Forfeited and cancelled     (30,264 )   $ 8.19          
Outstanding at September 30, 2023     939,170     $ 6.40       7.29  
Exercisable at September 30, 2023     376,978     $ 10.82       4.62  

 

Activity in the Company’s stock options during the three months ended September 30, 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, 2022     503,433     $ 11.03          
Granted     -     $ -          
Exercised     -     $ -          
Forfeited and cancelled     (3,500 )   $ 13.60          
Outstanding and exercisable at September 30, 2022     499,933     $ 11.02       4.31  
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the three months ended September 30, 2023 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, 2023     193,749     $ 6.09          
Granted     -     $ -          
Vested and settled     -     $ -          
Forfeited and cancelled     (1,539 )   $ 5.75          
Outstanding at September 30, 2023     192,210     $ 6.09       0.74  

 

Activity in RSUs during the three months ended September 30, 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, 2022     304,221     $ 6.06          
Granted     5,034     $ 2.70          
Vested and settled     (1,678 )   $ 2.70          
Forfeited and cancelled     (34,679 )   $ 7.06          
Outstanding at September 30, 2022     272,898     $ 5.89       1.53  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

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

 

                 
    Three Months Ended
September 30,		  
    2023     2022  
Research and development   $ 60,000     $ 26,000  
Selling and administrative     216,000       69,000  
Total stock-based compensation expense   $ 276,000     $ 95,000