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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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Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 50
-Section 50
-Paragraph 1
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