Annual report [Section 13 and 15(d), not S-K Item 405]

STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)

v3.26.1
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
 12 Months Ended
Jun. 30, 2026
Accumulated Other Comprehensive Income (Loss) [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 are listed below. No stock options were issued during the twelve months ended June 30, 2025.

 

    Fiscal year ended June 30,  
    2026     2025 (1)  
Expected volatility     95.5 %     -  
Risk free interest rate     3.9 %     -  
Dividend yield     0.0 %     -  
Expected term (years)     5.87       -  

 

 
(1) No stock options were issued during the twelve months ended June 30, 2025.
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in stock options during the year ended June 30, 2026 and 2025 and related balances outstanding 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, 2024     1,605,060     $ 4.85                             
Granted     -                                   
Exercised     -                                  
Forfeited and cancelled     (808,400 )   $ 5.60                          
Outstanding at June 30, 2025     796,660     $ 4.10                     $ 3.08  
Granted     536,239     $ 1.88                     $ 1.23  
Exercised     (62,125 )   $ 4.10                     $ 3.40  
Forfeited and cancelled     (341,892 )   $ 3.43             $ 115,095     $ 2.53  
Outstanding at June 30, 2026     928,882     $ 3.06       7.75             $ 2.20  
Exercisable at June 30, 2026     368,997     $ 4.18       6.53             $ 3.14  
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs and PSUs during the year ended June 30, 2026 and 2025 and related balances outstanding 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     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     1.60  
Granted     304,878     $ 1.62     1.60  
Vested and settled     (200,000 )   $ 1.60        
Forfeited and cancelled     -                
Outstanding at June 30, 2026     304,878     $ 1.62     1.60  
SCHEDULE OF EMPLOYEE STOCK PURCHASE PLAN

 

   

Shares of

Common Stock

     Price per Share  
Shares authorized under the 2023 ESPP     350,000          
                 
Purchase - March 28, 2024     37,543     $ 2.80  
Purchase - September 30, 2024     20,987     $ 2.58  
Purchase - March 31, 2025     29,350     $ 1.46  
Purchase - September 30, 2025     26,312     $ 1.39  
Purchase - March 31, 2026     21,248     $ 0.91  
                 
Available under the 2023 ESPP as of June 30, 2026     214,560          
Warrant [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS

The Company uses the Black-Scholes valuation model to calculate the fair value of common stock. The fair value of warrants was measured at the issuance date using the assumptions in the table below:

 

    Fiscal year ended June 30,  
    2026     2025 (1)  
Expected volatility     88.0 %     -  
Risk free interest rate     3.7 %     -  
Dividend yield     0.0 %     -  
Expected term (years)     5.00       -  

 

 
(1) No common stock warrants were issued during the twelve months ended June 30, 2025.
Common Stock Warrants [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF STOCK WARRANT ACTIVITY

All of the above issued common stock warrants are outstanding and exercisable as of June 30, 2026. Activity in the Company’s Common Stock Warrants during the year ended June 30, 2026 and 2025 are reflected below:

 

   

Number of Common

Stock 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       1.73  
Issued     -                  
Exercised     -                  
Expired and cancelled     -       2.48          
Outstanding and exercisable at June 30, 2025     1,413,110     $ 6.14       1.48  
Issued     1,214,766     $ 1.72       4.21  
Exercised     -                  
Expired and cancelled     (131,678 )   $ 4.80          
Outstanding and exercisable at June 30, 2026     2,496,198     $ 4.06       2.37  
Preferred Stock Warrants [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF STOCK WARRANT ACTIVITY

 

   

Number of

Preferred Warrants

    

Weighted Average

Exercise Price

per Warrant

    

Convertible to

Common Shares

    

Weighted Average

Remaining Contract

Term (years)
Outstanding and exercisable at June 30, 2025     -                      
Issued     258,144     $ 0.001       2,429,523     N/A
Exercised     -                      
Expired and cancelled     -                      
Outstanding and exercisable at June 30, 2026     258,144     $ 0.001       2,429,523     N/A