Quarterly report [Sections 13 or 15(d)]

STOCKHOLDERS??? EQUITY (DEFICIT) (Tables)

v3.25.1
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
 9 Months Ended
Mar. 31, 2025
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 periods listed below are:

 

    Nine months ended March 31,  
    2025(1)     2024  
Expected volatility           80.06 %
Risk free interest rate           4.90 %
Dividend yield           – %
Expected term (years)             5.97  

 

(1) No stock options were granted during the nine months ended March 31, 2025.
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in the Company’s stock options during the nine months ended March 31, 2025 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     (387,535 )     3.39                          
Outstanding at March 31, 2025     1,217,525       5.32       5.34       –          
Exercisable at March 31, 2025     766,905       6.39       3.60       –          

 

Activity in the Company’s stock options during the nine months ended March 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, 2023     973,400     $ 6.44                              
Granted     1,034,204       3.45                     $ 2.24  
Exercised     (91,110 )     3.40             $ 86,813          
Forfeited and cancelled     (178,459 )     4.69                          
Outstanding at March 31, 2024     1,738,035       5.00       7.94                  
Exercisable at March 31, 2024     497,095       8.87       4.55                  
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the nine months ended March 31, 2025 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, 2024     114,666     $ 5.56          
Granted     –       –          
Vested and settled     (34,668 )     7.30          
Forfeited and cancelled     (11,770 )     8.00          
Outstanding at March 31, 2025     68,228       4.25       0.05  

 

Activity in RSUs during the nine months ended March 31, 2024 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     (63,168 )     7.39          
Forfeited and cancelled     (8,809 )     7.11          
Outstanding at March 31, 2024     121,772       5.33       0.26  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

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

 

    2025     2024     2025     2024  
    Three months ended March 31,     Nine months ended March 31,  
    2025     2024     2025     2024  
Selling and administrative   $ 161,000     $ 528,000     $ 730,000     $ 1,058,000  
Research and development     45,000       35,000       101,000       175,000  
Total stock-based compensation expense   $ 206,000     $ 563,000     $ 831,000     $ 1,233,000  
Warrant [Member]  
Class of Warrant or Right [Line Items]  
SCHEDULE OF STOCK WARRANT ACTIVITY

Activity in warrants during the nine months ended March 31, 2025 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 March 31, 2025     1,413,110       6.14       1.73  

 

Activity in warrants during the nine months ended March 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, 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 March 31, 2024     1,413,110       6.23       2.73  
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 periods are listed below:

 

    Nine months ended March 31,  
    2025(1)     2024  
Expected volatility               -              83.70 %
Risk free interest rate     -       4.65 %
Dividend yield     -       – %
Expected term (years)             5.00  

 

(1) No warrants were issued during the nine months ended March 31, 2025.