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Redeemable Convertible Preferred Stock and Stockholders’ Deficit (Tables)

12 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Common Stock, Reserved for Future Issuance

The Company had shares of common stock reserved for issuance as follows:

						June 30, 2022						June 30, 2021
Available outstanding under stock plan						53,158,233						58,417,514
Available for future grant under stock plan						31,156,746						29,793,755
Total						84,314,979						88,211,269

Schedule of Warrant Activity

The following table summarizes the warrants activity during the years ended June 30, 2022 and June 30, 2021:

						Number of Shares						Weighted Average Exercise Price ($)						Weighted Average Remaining Life (years)
Warrants outstanding, June 30, 2020						706,065						$2.50						7.21
Granted						20,297,595						0.01						10.00
Exercised						(20,651,583)						0.04						8.93
Cancelled						(352,077)						3.80						8.27
Warrants outstanding, June 30, 2021						—						$—						0.00
Granted						22,000,000						68.19						5.60
Exercised						—						—						0.00
Cancelled						—						—						0.00
Warrants outstanding, June 30, 2022						22,000,000						$68.19						5.60
Warrants exercisable, June 30, 2022						3,382,419						$32.52						4.20

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- Definition

Schedule Of Common Stock, Reserved For Future Issuance

+ References

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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