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Income taxes (Tables)
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Summary of income (loss) before provision for income taxes
Loss before provision for incom
e taxes cons
isted of the following:
 
(US$’000)
  
Year Ended
June 30,
 
 
  
2025
 
  
2024
 
United States
    $ (37,183 )    $ (21,036 ) 
International
      (734 )       (715 ) 
  
 
 
     
 
 
  
Total
    $ (37,917 )    $ (21,751 ) 
  
 
 
     
 
 
  
Summary of company's deferred taxes
The tax effects of significant items comprising the Company’s deferred taxes are as follows:
 
(US$’000)
  
June 30,
 
 
  
2025
 
  
2024
 
Deferred tax assets:
  
      
  
      
Net operating losses
  
$
16,473
 
  
$
14,466
 
Other
  
 
110
 
  
 
172
 
Lease liability
  
 
178
 
  
 
60
 
Share-based compensation
  
 
470
 
  
 
264
 
Intangible assets
  
 
200
 
  
 
218
 
Section 174 Capitalization
  
 
8,103
 
  
 
5,771
 
 
  
 
 
 
  
 
 
 
Gross deferred tax assets
  
 
25,534
 
  
 
20,951
 
Less valuation allowance
  
 
(25,044
)
  
 
(20,594
) 
Deferred tax liabilities:
  
      
  
      
Right-of-use
assets
  
 
(181
)
  
 
(57
) 
Fixed assets
  
 
(5
 ) 
  
 
(5
) 
Prepaid expenses
  
 
(123
)
  
 
(99
) 
Unrealized foreign exchange gains and losses
  
 
(181
)
  
 
(196
) 
 
  
 
 
 
  
 
 
 
Total deferred tax liabilities
  
 
(490
)
  
 
(357
) 
 
  
 
 
 
  
 
 
 
Net deferred taxes
  
$
— 
 
  
$
— 
 
 
  
 
 
 
  
 
 
  
Summary of net operating losses and tax credit carryforwards Net operating losses and tax credit carryforwards as of June 30, 2025 are as follows:
(US$’000)
  
Amount
 
  
Expiration
Years
 
Net operating losses, federal (post-December 31, 2017)
    $ 21,391        Do not expire  
Net operating losses, state
      —       — 
Net operating losses, Australia
      47,924        Do not expire  
Summary reconciliation of effective rate of the company's provision (benefit) for income taxes
The effective rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows:
 
 
  
Year Ended
June 30,
 
 
  
2025
 
 
2024
 
Statutory rate
  
 
21.00
% 
 
 
21.00
% 
Permanent differences
  
 
(0.09
 %) 
 
 
(0.76
 %) 
Share-based payments
  
 
(0.53
%) 
 
 
(0.80
%) 
Change in valuation allowance
  
 
(11.82
 %) 
 
 
7.12
% 
Foreign tax rate differential
  
 
0.02
% 
 
 
0.03
% 
Section 382
Write-off
  
 
(0.00
%) 
 
 
(26.59
%) 
Section 162m Write-off
 
 
(8.58
%)
 
 
0.00
%
  
 
 
 
 
 
 
 
Total
  
 
(0.00
%) 
 
 
(0.00
%)