Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.22.2.2
STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Jun. 30, 2022
Equity [Abstract]  
SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the year ended June 30, 2022 is reflected below:

 

   

Number of

Warrants

   

Weighted

Average

Exercise

Price Per

Warrant

   

Remaining

Contract

Term
(# years)

 
Warrants outstanding and exercisable at June 30, 2021     214,883     $ 4.49          
Warrants issued     1,240,236     $ 6.38          
Warrants outstanding and exercisable at June 30, 2022     1,455,119     $ 6.10       4.17  

 

Warrant detail for the year ended June 30, 2021 is reflected below:

 

   

Number of

Warrants

   

Weighted

Average

Exercise

Price Per

Warrant

   

Remaining

Contract

Term
(# years)

 
Warrants outstanding and exercisable at June 30, 2020     83,205     $ 4.00          
Warrants issued     185,955     $ 4.80          
Warrants exercised     (40,993 )   $ 4.80          
Warrants forfeited     (13,284 )   $ 4.80          
Warrants outstanding and exercisable at June 30, 2021     214,883     $ 4.49       2.92  
SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in stock options during the year ended June 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, 2021     531,205     $ 11.02          
Exercised     (3,400 )   $ 4.65          
Forfeited and cancelled     (24,372 )   $ 11.65          
Outstanding and exercisable at June 30, 2022     503,433     $ 11.03       5.66  

 

Activity in stock options during the year ended June 30, 2021 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, 2020     579,584     $ 11.00          
Exercised     (22,760 )   $ 6.16          
Forfeited and cancelled     (25,619 )   $ 14.62          
Outstanding at June 30, 2021     531,205     $ 11.02       6.73  
Exercisable at June 30, 2021     490,323     $ 10.87       6.64  
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the year ended June 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, 2021     131,652     $ 9.25          
Granted     250,786     $ 4.82          
Vested/Settled     (9,156 )   $ 11.56          
Forfeited and cancelled     (69,061 )   $ 6.93          
Outstanding at June 30, 2022     304,221     $ 6.06       1.82  

 

Activity in RSUs during the year ended June 30, 2021 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, 2020     -     $ -          
Granted     153,177     $ 9.20          
Forfeited and cancelled     (21,525 )   $ 8.88          
Outstanding at June 30, 2021     131,652     $ 9.25       2.72  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

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

 

                 
Years ended June 30,   2022     2021  
Research and development   $ 144,000     $ 178,000  
Selling and administrative     567,000       619,000  
Total stock-based compensation expense   $ 711,000     $ 797,000