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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2023
Accounting Policies [Abstract] |
The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders: | The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders:
|  | For the year ended June 30, |
|  | 2023 |  |  | 2022 |  | 2021 |
Net loss |  | $ | 40,308 |  |  | $ | 10,887 |  | $ | 4,824 |
Adjust: Net loss attributable to noncontrolling interest |  |  | (251 | ) |  |  | - |  |  | - |
Net loss available to participating securities |  |  | 40,057 |  |  |  | 10,887 |  |  | 4,824 |
Net loss attributable to Vested Shares |  |  | (1,528 | ) |  |  | - |  |  | - |
Net loss attributed to common shareholders - basic and diluted |  | $ | 38,529 |  |  | $ | 10,887 |  | $ | 4,824 |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – basic and diluted |  |  | 28,705,840 |  |  |  | 26,373,722 |  |  | 24,196,711 |
Loss per Common Share outstanding – basic and diluted |  | $ | 1.34 |  |  |  | $0.41 |  |  | $0.20 |
Schedule of excluded from the dilutive securities | Schedule of excluded from the dilutive securities
| For the year ended June 30,
| 2023 |  | 2022 |  | 2021
Excluded potentially dilutive securities (1)(2): |  |  |  |  |  |  |  |
Options |  | 1,541,500 |  |  | 1,446,400 |  |  | 1,596,500
Warrants |  | 18,816,304 |  |  | 1,851,622 |  |  | 1,434,186
Convertible debt |  | 2,871,660 |  |  | 415,200 |  |  | 1,455,700
Total potentially dilutive securities |  | 23,229,464 |  |  | 3,713,222 |  |  | 4,486,386
| (1) | The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive.
| (2) | Earnout Shares (as defined below) are excluded as the vesting terms were not met as of the end of the reporting period.
Revision Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of March 31, 2023 | Revision Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of March 31, 2023 Revision Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of March 31, 2023
|  | As Previously Reported |  |  | Revision Impacts |  |  | Revised |
Warrant liabilities, at fair value |  | $ | 5,303 |  |  | $ | (665 | ) |  | $ | 4,638 |
Total liabilities |  |  | 34,735 |  |  |  | (665 | ) |  |  | 34,070 |
Accumulated deficit |  |  | (146,046 | ) |  |  | 665 |  |  |  | (145,381 | )
Total shareholders’ deficit |  |  | (12,512 | ) |  |  | 665 |  |  |  | (11,847 | )
Revision Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three & Nine Months Ended March 31, 2023 | Revision Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended March 31, 2023 Revision Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three & Nine Months Ended March 31, 2023
|  | As Previously Reported |  |  | Revision Impacts |  |  | Revised |
Other operating expense |  | $ | 26,220 |  |  | $ | (861 | ) |  | $ | 25,359 |
Total operating expenses |  |  | 29,192 |  |  |  | (861 | ) |  |  | 28,331 |
Change in fair value of warrant liability |  |  | 784 |  |  |  | 196 |  |  |  | 980 |
Loss before income taxes |  |  | 29,621 |  |  |  | (665 | ) |  |  | 28,956 |
Net loss |  |  | 29,435 |  |  |  | (665 | ) |  |  | 28,770 |
Net loss attributable to the Company |  |  | 29,343 |  |  |  | (665 | ) |  |  | 28,678 |
Total comprehensive loss |  |  | 29,323 |  |  |  | (665 | ) |  |  | 28,658 |
Comprehensive loss attributable to the Company |  |  | 29,231 |  |  |  | (665 | ) |  |  | 28,566 |
Loss per common share, basic and diluted |  | $ | 1.00 |  |  | $ | (0.02 | ) |  | $ | 0.98 |
Revision Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Nine Months Ended March 31, 2023
|  |  | As Previously Reported |  |  |  | Revision Impacts |  |  |  | Revised |
Other operating expense |  | $ | 26,888 |  |  | $ | (861 | ) |  | $ | 26,027 |
Total operating expenses |  |  | 33,475 |  |  |  | (861 | ) |  |  | 32,614 |
Change in fair value of warrant liability |  |  | 868 |  |  |  | 196 |  |  |  | 1,064 |
Loss before income taxes |  |  | 35,927 |  |  |  | (665 | ) |  |  | 35,262 |
Net loss |  |  | 35,741 |  |  |  | (665 | ) |  |  | 35,076 |
Net loss attributable to the Company |  |  | 35,649 |  |  |  | (665 | ) |  |  | 34,984 |
Total comprehensive loss |  |  | 35,659 |  |  |  | (665 | ) |  |  | 34,994 |
Comprehensive loss attributable to the Company |  |  | 35,567 |  |  |  | (665 | ) |  |  | 34,902 |
Loss per common share, basic and diluted |  | $ | 1.26 |  |  | $ | (0.02 | ) |  | $ | 1.24 |
Revision Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Nine Months Ended March 31, 2023 | Revision Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Nine Months Ended March 31, 2023 Revision Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Nine Months Ended March 31, 2023
|  | As Previously Reported |  |  | Revision Impacts |  |  | Revised |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Net loss for the period |  | $ | (35,741 | ) |  | $ | 665 |  |  | $ | (35,076 | )
Initial valuation of warrants |  |  | 3,848 |  |  |  | (861 | ) |  |  | 2,987 |
Change in fair value of warrants |  |  | 868 |  |  |  | 196 |  |  |  | 1,064 |

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