STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
|
12 Months Ended |
Jun. 30, 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 warrants. Weighted average annualized percentages and expected
term inputs used in Black-Scholes valuations during the periods are listed below:
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS
| |
|
Year ended June 30, |
|
| |
|
2025(1) |
|
|
2024 |
|
| Expected volatility |
|
|
-
|
|
|
|
80.06 |
% |
| Risk free interest rate |
|
|
- |
|
|
|
4.86 |
|
| Dividend yield |
|
|
- |
|
|
|
– |
|
| Expected term (years) |
|
|
|
|
|
|
6.00 |
|
| (1) |
|
No stock options
were granted during the year ended June 30, 2025. |
|
| SCHEDULE OF STOCK OPTIONS ACTIVITY |
Activity
in stock options during the year ended June 30, 2025 and related balances outstanding as of that date are reflected below:
SCHEDULE OF STOCK OPTIONS ACTIVITY
| |
|
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 |
|
|
(808,400 |
) |
|
|
5.60 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at June 30, 2025 |
|
|
796,660 |
|
|
|
4.10 |
|
|
|
7.10 |
|
|
|
- |
|
|
|
|
|
| Exercisable at June 30, 2025 |
|
|
385,189 |
|
|
|
4.71 |
|
|
|
6.08 |
|
|
|
- |
|
|
|
|
|
Activity
in stock options during the year ended June 30, 2024 and related balances outstanding as of that date are 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 |
|
|
(100,104 |
) |
|
|
3.40 |
|
|
|
|
|
|
$ |
97,593 |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(302,440 |
) |
|
|
5.66 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at June 30, 2024 |
|
|
1,605,060 |
|
|
|
4.85 |
|
|
|
7.96 |
|
|
|
|
|
|
|
|
|
| Exercisable at June 30, 2024 |
|
|
426,363 |
|
|
|
8.72 |
|
|
|
4.92 |
|
|
|
|
|
|
|
|
|
|
| SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY |
Activity
in RSUs during the year ended June 30, 2025 and related balances outstanding as of that date are reflected below:
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY
| |
|
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 |
|
|
200,000 |
|
|
|
1.60 |
|
|
|
|
|
| Vested and settled |
|
|
(102,896 |
) |
|
|
5.28 |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(11,770 |
) |
|
|
8.00 |
|
|
|
|
|
| Outstanding at June 30, 2025 |
|
|
200,000 |
|
|
|
1.60 |
|
|
|
0.91 |
|
Activity
in RSUs during the year ended June 30, 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 |
|
|
68,228 |
|
|
|
4.25 |
|
|
|
|
|
| Vested and settled |
|
|
(136,956 |
) |
|
|
5.55 |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(10,355 |
) |
|
|
6.91 |
|
|
|
|
|
| Outstanding at June 30, 2024 |
|
|
114,666 |
|
|
|
5.56 |
|
|
|
0.61 |
|
|
| SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES |
The
following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants and ESPP participation:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES
| |
|
2025 |
|
|
2024 |
|
| |
|
Year ended June 30, |
|
| |
|
2025 |
|
|
2024 |
|
| Research and development |
|
$ |
127,000 |
|
|
$ |
236,000 |
|
| Selling and administrative |
|
|
852,000 |
|
|
|
1,335,000 |
|
| Total stock-based compensation expense |
|
$ |
979,000 |
|
|
$ |
1,571,000 |
|
|
| Warrant [Member] |
|
| Class of Warrant or Right [Line Items] |
|
| SCHEDULE OF STOCK WARRANT ACTIVITY |
Warrant
detail for the year ended June 30, 2025 is reflected below:
SCHEDULE OF STOCK WARRANT ACTIVITY
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price Per Warrant |
|
|
Weighted Average Remaining Contract Term (# years) |
|
| Outstanding and exercisable at June 30, 2024 |
|
|
1,413,110 |
|
|
$ |
6.14 |
|
|
|
|
|
| Issued |
|
|
- |
|
|
|
- |
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
| Forfeited and cancelled |
|
|
– |
|
|
|
– |
|
|
|
|
|
| Outstanding and exercisable at June 30, 2025 |
|
|
1,413,110 |
|
|
|
6.14 |
|
|
|
1.48 |
|
Warrant
detail for the year ended June 30, 2024 is reflected below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price Per Warrant |
|
|
Weighted Average Remaining Contract Term (# years) |
|
| Outstanding and exercisable at June 30, 2023 |
|
|
1,455,119 |
|
|
$ |
6.10 |
|
|
|
|
|
| Issued |
|
|
41,196 |
|
|
|
3.24 |
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
| Forfeited and cancelled |
|
|
(83,205 |
) |
|
|
4.00 |
|
|
|
|
|
| Outstanding and exercisable at June 30, 2024 |
|
|
1,413,110 |
|
|
|
6.14 |
|
|
|
2.48 |
|
|
| SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS |
The
Company uses the Black-Scholes valuation model to calculate the fair value of warrants. The fair value of warrants was measured at the
issuance date using the assumptions in the table below:
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS
| |
|
Year ended June 30, |
|
| |
|
|
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 year ended June 30, 2025. |
|