Stockholders' Deficit (Tables)
|
9 Months Ended |
Mar. 31, 2021 |
|---|
| Equity [Abstract] |
|
| Schedule of Stock Warrant Activity |
Warrant detail for the nine months
ended March 31, 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 |
|
|
|
2.01 |
|
| Warrants issued |
|
|
185,955 |
|
|
$ |
4.80 |
|
|
|
5.00 |
|
| Warrants exercised |
|
|
(32,977 |
) |
|
$ |
4.80 |
|
|
|
|
|
| Warrants forfeited |
|
|
(11,700 |
) |
|
$ |
4.80 |
|
|
|
- |
|
| Warrants outstanding and exercisable at March 31, 2021 |
|
|
224,483 |
|
|
$ |
4.50 |
|
|
|
3.22 |
|
Warrant detail for the nine months
ended March 31, 2020 is reflected below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price Per Warrant |
|
|
Remaining Contract Term (# years) |
|
| Warrants outstanding and exercisable at June 30, 2019 |
|
|
8,333 |
|
|
$ |
20.00 |
|
|
|
0.25 |
|
| Warrants forfeited |
|
|
(8,333 |
) |
|
$ |
20.00 |
|
|
|
- |
|
| Warrants outstanding and exercisable at March 31, 2020 |
|
|
- |
|
|
|
$ |
|
|
|
|
|
|
| Schedule of Stock Options Activity |
Activity in stock options during
the nine months ended March 31, 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 |
|
|
|
7.55 |
|
| Exercised |
|
|
(15,812 |
) |
|
$ |
5.77 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(18,932 |
) |
|
$ |
12.45 |
|
|
|
- |
|
| Outstanding at March 31, 2021 |
|
|
544,840 |
|
|
$ |
11.10 |
|
|
|
6.81 |
|
| Exercisable at March 31, 2021 |
|
|
490,493 |
|
|
$ |
10.91 |
|
|
|
6.67 |
|
Activity in stock options during
the nine months ended March 31, 2020 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, 2019 |
|
|
580,171 |
|
|
$ |
11.05 |
|
|
|
8.59 |
|
| Granted |
|
|
15,792 |
|
|
$ |
8.87 |
|
|
|
- |
|
| Exercised |
|
|
(5,249 |
) |
|
$ |
4.68 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(8,718 |
) |
|
$ |
12.56 |
|
|
|
- |
|
| Outstanding at March 31, 2020 |
|
|
581,996 |
|
|
$ |
11.02 |
|
|
|
7.87 |
|
| Exercisable at March 31, 2020 |
|
|
414,720 |
|
|
$ |
10.65 |
|
|
|
7.53 |
|
|
| Schedule of Restricted Stock Units Activity |
Activity in RSUs during the nine
months ended March 31, 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 |
|
|
134,865 |
|
|
$ |
8.88 |
|
|
|
- |
|
| Forfeited and cancelled |
|
|
(6,542 |
) |
|
$ |
8.88 |
|
|
|
- |
|
| Outstanding at March 31, 2021 |
|
|
128,323 |
|
|
$ |
8.88 |
|
|
|
2.91 |
|
|
| Schedule of Stock-Based Compensation Expenses |
The following table summarizes
stock-based compensation expense for employee and non-employee option grants and RSUs:
| |
|
Three Months Ended
March 31, |
|
|
Nine Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Research and development |
|
$ |
48,000 |
|
|
$ |
54,000 |
|
|
$ |
146,000 |
|
|
$ |
162,000 |
|
| Selling and administrative |
|
|
180,000 |
|
|
|
402,000 |
|
|
|
504,000 |
|
|
|
1,194,000 |
|
| Total stock-based compensation expense |
|
$ |
228,000 |
|
|
$ |
456,000 |
|
|
$ |
650,000 |
|
|
$ |
1,356,000 |
|
|
| Schedule of Fair Value Assumptions of Stock Options |
The Company uses the Black-Scholes
valuation model to calculate the fair value of stock options. The fair value of stock options was measured at the grant date using the
assumptions (annualized percentages) in the table below:
| |
|
Nine Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Expected volatility |
|
|
0 |
% |
|
|
100.60 |
% |
| Risk free interest rate |
|
|
0 |
% |
|
|
1.73 |
% |
| Forfeiture rate |
|
|
20 |
% |
|
|
20 |
% |
| Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
| Expected term (years) |
|
|
0 |
|
|
|
5.56 |
|
|