Quarterly report [Sections 13 or 15(d)]

STOCKHOLDERS??? EQUITY (DEFICIT) (Tables)

v3.25.1
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
6 Months Ended
Dec. 31, 2024
Class of Warrant or Right [Line Items]  
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS

The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. Weighted average annualized percentages and expected term inputs used in Black-Scholes valuations during the period are listed below:

 

    Six months ended December 31,  
    2024(1)     2023  
Expected volatility                 -      78.29  %
Risk free interest rate     -     4.90  %
Dividend yield     -     %
Expected term (years)           6.00  

 

(1) No stock options were granted during the six months ended December 31, 2024.
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in the Company’s stock options during the six months ended December 31, 2024 and related balances outstanding as of that date is reflected below:

 

    Number of
Shares
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contract
Term
(# years)
    Aggregate
intrinsic
Value
      Weighted
Average
Grant Date
Fair Value
 
Outstanding at June 30, 2024     1,605,060     $ 4.85                          
Granted                               $  
Exercised                       $                          
Forfeited and cancelled     (111,782 )     3.39                          
Outstanding at December 31, 2024     1,493,278       4.96       7.38                
Exercisable at December 31, 2024     757,220       6.39       6.20                

 

Activity in the Company’s stock options during the six months ended December 31, 2023 and related balances outstanding as of that date is reflected below:

 

    Number of
Shares
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contract
Term
(# years)
    Aggregate
intrinsic
Value
      Weighted
Average
Grant Date
Fair Value
 
Outstanding at June 30, 2023     973,400     $ 6.44                          
Granted     979,204       3.36                     $ 2.17  
Exercised                       $                          
Forfeited and cancelled     (37,610 )     7.71                          
Outstanding at December 31, 2023     1,914,994       4.85       8.45       -          
Exercisable at December 31, 2023     517,493       8.82       5.57       -          
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the six months ended December 31, 2024 and related balances outstanding as of that date is reflected below:

 

    Number of
Shares
    Weighted
Average Grant
Date Fair Value
    Weighted
Average
Remaining
Contract
Term (# years)
 
Outstanding at June 30, 2024     114,666     $ 5.56          
Granted                    
Vested and settled                    
Forfeited and cancelled     (740 )     5.75          
Outstanding at December 31, 2024     113,926       5.56       0.18  

 

Activity in RSUs during the six months ended December 31, 2023 and related balances outstanding as of that date is 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     (54,038 )     7.27          
Forfeited and cancelled     (1,539 )     5.75          
Outstanding at December 31, 2023     138,172       5.63       0.55  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

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

 

    2024     2023     2024     2023  
    Three months ended December 31,     Six months ended December 31,  
    2024     2023     2024     2023  
Selling and administrative   $ 250,000     $ 80,000     $ 569,000     $ 140,000  
Research and development     28,000       314,000       56,000       530,000  
Total stock-based compensation expense   $ 278,000     $ 394,000     $ 625,000     $ 670,000  
Warrant [Member]  
Class of Warrant or Right [Line Items]  
SCHEDULE OF STOCK WARRANT ACTIVITY

Activity in warrants during the six months ended December 31, 2024 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, 2024     1,413,110     $ 6.14          
Warrants issued     -       -          
Warrants exercised     -       -          
Warrants forfeited and cancelled     -       -          
Warrants outstanding and exercisable at December 31, 2024     1,413,110       6.14       1.98  

 

Activity in warrants during the six months ended December 31, 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     41,196       3.24          
Warrants exercised     -       -          
Warrants forfeited and cancelled     (83,205 )     4.00          
Warrants outstanding and exercisable at December 31, 2023     1,413,110       6.23       2.98  
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS

The Company uses the Black-Scholes valuation model to calculate the fair value of warrants. Weighted average annualized percentages and expected term inputs used in Black-Scholes valuations during the period are listed below:

 

    Six months ended December 31,  
    2024(1)     2023  
Expected volatility                -      83.70  %
Risk free interest rate     -     4.65  %
Dividend yield     -     %
Expected term (years)           5.00  

 

(1) No warrants were issued during the six months ended December 31, 2024.