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SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
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

 

  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

             
   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

             
   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

  

   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