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Stock-Based Compensation (Tables)
6 Months Ended 12 Months Ended
Dec. 31, 2024
Jun. 30, 2024
Stock-Based Compensation [Abstract]    
Schedule of Restricted Stock Awards

The following is a schedule summarizing restricted stock awards for the periods indicated:

 

   December 31, 2024 
   Three Months Ended   Six Months Ended 
   Number of
Shares
   Weighted
Average
Grant Date
Fair Value
per Price
   Number of
Shares
   Weighted
Average
Grant Date
Fair Value
per Price
 
Beginning balance   6,923   $1.90    10,597   $1.90 
Issued   
-
    
-
    
-
    
-
 
Vested   (3,674)   1.90    (7,348)   1.90 
Forfeited   
-
    
-
    
-
    
-
 
Ending balance   3,249   $1.90    3,249   $1.90 

 

   December 31, 2023 
   Three Months Ended   Six Months Ended 
   Number of
Shares
   Weighted
Average
Grant Date
Fair Value
per Price
   Number of
Shares
   Weighted
Average
Grant Date
Fair Value
per Price
 
Beginning balance   21,619   $1.90    75,293   $1.97 
Issued   
-
    
-
    
-
    
-
 
Vested   (3,675)   1.90    (57,349)   1.99 
Forfeited   
-
    
-
    
-
    
-
 
Ending balance   17,944   $1.90    17,944   $1.90 

The following is a schedule summarizing restricted stock awards for the periods indicated:

 

   Number of
Shares
   Weighted
Average
 Grant Date
 Fair Value
 Per Share
 
Outstanding at July 1, 2022   344,426   $1.90 
Granted   150,000    2.00 
Vested   (419,133)   1.92 
Forfeited   
-
    
-
 
Outstanding at June 30, 2023   75,293   $1.97 
Granted   
-
    
-
 
Vested   (64,696)   1.98 
Forfeited   
-
    
-
 
Outstanding at June 30, 2024   10,597   $1.90 
Schedule of Estimates Fair Value of Each Option Award

The Company estimates the fair value of each option award using the Black-Scholes option-pricing model. The Company used the following assumptions for to estimate the fair value of stock options for the period presented:

 

   Six Months Ended
December 31,
 
   2024   2023 
Weighted-average fair value  $1.89   $2.48 
Expected volatility   113.9% - 122.4%   104.9% - 106.6%
Expected term   1.0 years - 5.3 years    5.0 years - 6.2 years 
Dividend yield   0.00%   0.00%
Risk-free interest rate   3.87% - 4.31%   3.94% - 4.92%

The Company estimates the fair value of each option award using the Black-Scholes option-pricing model. The Company used the following assumptions for to estimate the fair value of stock options for the period presented:

 

   Year Ended June 30, 
   2024   2023 
Weighted-average fair value  $2.52   $2.45 
Expected volatility   105% - 114%   100% - 134%
Expected term   5.0 years - 6.2 years    5.0 years - 7.0 years 
Dividend yield   0.00%   0.00%
Risk-free interest rate   3.94% - 4.92%   1.26% - 4.24%
Schedule of Stock Option Activity

The following is a schedule summarizing stock option activities for the periods presented:

   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at October 1, 2024   1,056,487   $2.42   $794,863 
Granted   54,000    3.12      
Exercised   (155,666)   2.11      
Expired/forfeited   
-
    
-
      
Outstanding at December 31, 2024   954,821   $2.51   $4,908,085 
Exercisable at December 31, 2024   665,348   $2.44   $3,469,609 
                
Outstanding at October 1, 2023   995,500   $2.33   $965,500 
Granted   7,000    2.90      
Exercised   
-
    
-
      
Expired/forfeited   (41,375)   2.09      
Outstanding at December 31, 2023   961,125   $2.35   $566,485 
Exercisable at December 31, 2023   481,560   $2.20   $350,521 

 

(1)Represents the excess of the fair value on the last day of period (which was $7.65 and $2.90 as of December 31, 2024 and 2023, respectively) over the exercise price, multiplied by the number of options.
   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at July 1, 2024   1,068,000   $2.41   $1,257,520 
Granted   66,000    3.12      
Exercised   (155,666)   2.11      
Expired/forfeited   (23,959)   2.39      
Outstanding at December 31, 2024   954,821   $2.51   $4,908,085 
Exercisable at December 31, 2024   665,348   $2.44   $3,469,609 
                
Outstanding at July 1, 2023   1,034,000   $2.31   $639,775 
Granted   13,500    3.11      
Exercised   
-
    
-
      
Expired/forfeited   (86,375)   2.04      
Outstanding at December 31, 2023   961,125   $2.35   $566,485 
Exercisable at December 31, 2023   481,560   $2.20   $350,521 

The following is a schedule summarizing stock option activities for the periods presented:

 

   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at July 1, 2023   1,034,000   $2.31   $639,775 
Granted   120,821    3.01      
Exercised   
-
    
-
      
Expired/cancelled   (201,000)   2.08      
Outstanding at June 30, 2024   953,821   $2.45   $1,087,178 
Exercisable at June 30, 2024   550,116   $2.36   $673,901 

 

(1) Represents the excess of the fair value on the last day of period (which was $3.59 as of June 30, 2024) over the exercise price, multiplied by the number of options.

 

   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at July 1, 2022   817,750   $2.00   $
-
 
Granted   471,250    2.68      
Exercised   
-
    
-
      
Expired/cancelled   (255,000)   2.00      
Outstanding at June 30, 2023   1,034,000   $2.31   $639,775 
Exercisable at June 30, 2023   360,060   $2.05   $309,248 

 

(1) Represents the excess of the fair value on the last day of period (which was $2.90 as of June 30, 2023) over the exercise price, multiplied by the number of options.