XML 44 R35.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-Based Compensation (Tables)
6 Months Ended
Dec. 31, 2023
Stock-Based Compensation [Abstract]  
Schedule of Stock Option Activity The following is a summary of stock option activity transactions as of and for the period ended June 30, 2023 and December 31, 2023:
   Number of
options
   Weighted
average
exercise
price
   Weighted
average
fair value
per option
 
Outstanding at June 30, 2023    -   $ -   $ - 
Granted    2,910,000   $9.63   $5.45 
Exercised    
-
   $
-
   $
-
 
Expired    
-
   $
-
   $
-
 
Forfeiture    65,000   $9.76   $5.54 
Outstanding at December 31, 2023    2,845,000   $9.63   $5.45 
Schedule of Options Were Valued Using the Binomial Option Pricing Model The options granted during the six months ended December 31, 2023 were valued using the binomial option pricing model based on the following range of assumptions:
   Six months
ended
December 31,
2023
 
Risk-free interest rate   4.062% - 4.812% 
Time to expiry   4 - 10 years 
Expected volatility   50% - 55% 
Expected dividend yield   0% 
Schedule of Awards Granted to Employees RSUs are accounted for as equity using the fair value method, which requires measurement and recognition of compensation expense for all awards granted to employees, directors and consultants based upon the grant-date fair value.
   Shares   Weighted average
grant date
fair value
 
Unvested, June 30, 2023   
-
   $
-
 
Granted   587,235    9.76 
Vested   
-
    
-
 
Canceled and forfeited   (13,095)   9.76 
Unvested, December 31, 2023   574,140   $9.76 
Schedule of Allocation of Stock-Based Compensation The following table summarizes the allocation of stock-based compensation in the accompanying consolidated statements of operations:
   Three months ended
December 31,
   Six months ended
December 31,
 
   2022   2023   2022   2023 
General and administrative expenses  $
     -
   $1,850,380   $
     -
   $2,802,033 
Sales and marketing expenses   
-
    32,541    
-
    48,447 
Total  $
-
   $1,882,921   $
-
   $2,850,480