STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
|
6 Months Ended |
Dec. 31, 2024 |
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 period are listed below:
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS
|
|
Six
months ended December 31, |
|
|
|
2024(1) |
|
|
2023 |
|
Expected volatility |
|
|
- |
|
|
|
78.29 |
% |
Risk free interest rate |
|
|
- |
|
|
|
4.90 |
% |
Dividend yield |
|
|
- |
|
|
|
– |
% |
Expected term (years) |
|
|
|
|
|
|
6.00 |
|
(1) |
|
No stock options
were granted during the six months ended December 31, 2024. |
|
SCHEDULE OF STOCK OPTIONS ACTIVITY |
Activity
in the Company’s stock options during the six months ended December 31, 2024 and related balances outstanding as of that date is
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 |
|
|
(111,782 |
) |
|
|
3.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2024 |
|
|
1,493,278 |
|
|
|
4.96 |
|
|
|
7.38 |
|
|
|
– |
|
|
|
|
|
Exercisable at December 31, 2024 |
|
|
757,220 |
|
|
|
6.39 |
|
|
|
6.20 |
|
|
|
– |
|
|
|
|
|
Activity
in the Company’s stock options during the six months ended December 31, 2023 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 |
|
|
979,204 |
|
|
|
3.36 |
|
|
|
|
|
|
|
|
|
|
$ |
2.17 |
|
Exercised |
|
|
– |
|
|
|
– |
|
|
|
|
|
|
$ |
– |
|
|
|
|
|
Forfeited and cancelled |
|
|
(37,610 |
) |
|
|
7.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2023 |
|
|
1,914,994 |
|
|
|
4.85 |
|
|
|
8.45 |
|
|
|
- |
|
|
|
|
|
Exercisable at December 31, 2023 |
|
|
517,493 |
|
|
|
8.82 |
|
|
|
5.57 |
|
|
|
- |
|
|
|
|
|
|
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY |
Activity
in RSUs during the six months ended December 31, 2024 and related balances outstanding as of that date is 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 |
|
|
– |
|
|
|
– |
|
|
|
|
|
Vested and settled |
|
|
– |
|
|
|
– |
|
|
|
|
|
Forfeited and cancelled |
|
|
(740 |
) |
|
|
5.75 |
|
|
|
|
|
Outstanding at December 31, 2024 |
|
|
113,926 |
|
|
|
5.56 |
|
|
|
0.18 |
|
Activity
in RSUs during the six months ended December 31, 2023 and related balances outstanding as of that date is 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 |
|
|
(54,038 |
) |
|
|
7.27 |
|
|
|
|
|
Forfeited and cancelled |
|
|
(1,539 |
) |
|
|
5.75 |
|
|
|
|
|
Outstanding at December 31, 2023 |
|
|
138,172 |
|
|
|
5.63 |
|
|
|
0.55 |
|
|
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES |
The
following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
Three
months ended December 31, |
|
|
Six
months ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Selling and administrative |
|
$ |
250,000 |
|
|
$ |
80,000 |
|
|
$ |
569,000 |
|
|
$ |
140,000 |
|
Research and development |
|
|
28,000 |
|
|
|
314,000 |
|
|
|
56,000 |
|
|
|
530,000 |
|
Total stock-based compensation
expense |
|
$ |
278,000 |
|
|
$ |
394,000 |
|
|
$ |
625,000 |
|
|
$ |
670,000 |
|
|
Warrant [Member] |
|
Class of Warrant or Right [Line Items] |
|
SCHEDULE OF STOCK WARRANT ACTIVITY |
Activity
in warrants during the six months ended December 31, 2024 is reflected below:
SCHEDULE OF STOCK WARRANT ACTIVITY
|
|
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 December 31, 2024 |
|
|
1,413,110 |
|
|
|
6.14 |
|
|
|
1.98 |
|
Activity
in warrants during the six months ended December 31, 2023 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 December 31, 2023 |
|
|
1,413,110 |
|
|
|
6.23 |
|
|
|
2.98 |
|
|
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 period are listed below:
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS
|
|
Six
months ended December 31, |
|
|
|
2024(1) |
|
|
2023 |
|
Expected volatility |
|
|
- |
|
|
|
83.70 |
% |
Risk free interest rate |
|
|
- |
|
|
|
4.65 |
% |
Dividend yield |
|
|
- |
|
|
|
– |
% |
Expected term (years) |
|
|
|
|
|
|
5.00 |
|
|
(1) |
No warrants were
issued during the six months ended December 31, 2024. |
|