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CONVERTIBLE DEBT (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of convertible debt | Schedule of convertible debt
|  | As of June 30, |
|  | 2023 |  |  | 2022 |
Current Portion: |  |  |  |  |  |  |  |
Lind III convertible security |  | $ | - |  |  | $ | 2,169 |
Noncurrent Portion: |  |  |  |  |  |  |  |
Yorkville convertible debentures |  | $ | 10,561 |  |  | $ | - |
Changes in the Lind III Convertible Security are as follows: | Changes in the Lind III Convertible Security are as follows:
|  | For the year ending June 30,
|  | 2023 |  | 2022
Beginning balance |  | $ | 2,169 |  |  | $ | 7,234 |
Fair value increase due to debt extinguishment |  |  | 201 |  |  |  | - |
Conversions |  |  | (1,950 | ) |  |  | (7,635 | )
Accretion expense |  |  | 95 |  |  |  | 2,570 |
Payment at maturity |  |  | (515 | ) |  |  | - |
Balance, end of period |  | $ | - |  |  | $ | 2,169 |
The following table summarizes the components of the initial loss on extinguishment: | The following table summarizes the components of the initial loss on extinguishment:
Component of loss |  | Amount |
Minimum Consent Payment at inception |  | $ | 200 |
Loss on debt extinguishment |  |  | 201 |
Initial fair value of Contingent Consent Warrants |  |  | 1,221 |
Initial loss on debt extinguishment |  |  | 1,622 |
Additional Consent Payment booked1 |  |  | 300 |
Total loss on debt extinguishment |  | $ | 1,922 |
| 1 | Represents the difference between the accrual of the minimum Consent Payment at September 25, 2022 and the actual payment made on March 17, 2023.
The change in the fair value of the Contingent Consent Warrants is presented below: | The change in the fair value of the Contingent Consent Warrants is presented below:
|  | Amount |
Initial valuation, September 25, 2022 |  | $ | 1,221 |
Change in valuation |  |  | 489 |
Valuation at June 30, 2023 |  | $ | 1,710 |
Schedule of valuation date and the probability calculated. | Schedule of valuation date and the probability calculated.
Key Valuation Input |  | September 25, 2022 |  |  | June 30, 2023 |
Share price on valuation date |  | $ | 7.82 |  |  | $ | 5.03 |
Volatility |  |  | 62.4 | % |  |  | 63.0 | %
Risk free rate |  |  | 3.93 | % |  |  | 4.11 | %
Probability of issuance |  |  | 59.4 | % |  |  | 80.8 | %
Changes in the Convertible Debentures are as follows: | Changes in the Convertible Debentures are as follows:
|  |  | Amount |
Opening balance, March 17, 2023 |  | $ | 12,153 |
Accretion expense |  |  | 1,962 |
Principal and accrued interest converted |  |  | (3,554 | )
Balance, June 30, 2023 |  | $ | 10,561 |
Add: Unamortized debt issuance costs |  |  | 2,439 |
Remaining principal balance, June 30, 2023 |  | $ | 13,000 |

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