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STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
SCHEDULE OF STOCK WARRANT ACTIVITY | Warrant detail for the nine months ended March 31, 2022 is reflected below: SCHEDULE OF STOCK WARRANT ACTIVITY
|  | Number of Warrants |  |  | Weighted Average Exercise Price Per Warrant |  |  | Weighted Average Remaining Contract Term (# years) |
Warrants outstanding and exercisable at June 30, 2021 |  |  | 214,883 |  |  | $ | 4.49 |  |  |  |  |
Warrants issued |  |  | 1,071,430 |  |  | $ | 7.00 |  |  |  |  |
Warrants outstanding and exercisable at March 31, 2022 |  |  | 1,286,313 |  |  | $ | 6.58 |  |  |  | 4.11 |
Warrant detail for the nine months ended March 31, 2021 is reflected below:
|  | Number of Warrants |  |  | Weighted Average Exercise Price Per Warrant |  |  | Weighted Average Remaining Contract Term (# years) |
Warrants outstanding and exercisable at June 30, 2020 |  |  | 83,205 |  |  | $ | 4.00 |  |  |  |  |
Warrants issued |  |  | 185,955 |  |  | $ | 4.80 |  |  |  |  |
Warrants exercised |  |  | (32,977 | ) |  | $ | 4.80 |  |  |  |  |
Warrants forfeited |  |  | (11,700 | ) |  | $ | 4.80 |  |  |  |  |
Warrants outstanding at March 31, 2021 |  |  | 224,483 |  |  | $ | 4.50 |  |  |  | 3.22 |
SCHEDULE OF STOCK OPTIONS ACTIVITY | Activity in the Company’s stock options during the nine months ended March 31, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF STOCK OPTIONS ACTIVITY
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contract Term (# years) |
Outstanding at June 30, 2021 |  |  | 531,205 |  |  | $ | 11.02 |  |  |  |  |
Granted |  |  | - |  |  | $ | - |  |  |  |  |
Exercised |  |  | (3,400 | ) |  | $ | 4.65 |  |  |  |  |
Forfeited and cancelled |  |  | (15,612 | ) |  | $ | 14.28 |  |  |  |  |
Outstanding and exercisable at March 31, 2022 |  |  | 512,193 |  |  | $ | 10.97 |  |  |  | 5.91 |
Activity in the Company’s stock options during the nine months ended March 31, 2021 and related balances outstanding as of that date are reflected below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contract Term (# years) |
Outstanding at June 30, 2020 |  |  | 579,584 |  |  | $ | 11.00 |  |  |  |  |
Granted |  |  | - |  |  | $ | - |  |  |  |  |
Exercised |  |  | (15,812 | ) |  | $ | 5.77 |  |  |  |  |
Forfeited and cancelled |  |  | (18,932 | ) |  | $ | 12.45 |  |  |  |  |
Outstanding at March 31, 2021 |  |  | 544,840 |  |  | $ | 11.10 |  |  |  | 6.81 |
Exercisable at March 31, 2021 |  |  | 490,493 |  |  | $ | 10.91 |  |  |  | 6.67 |
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY | Activity in RSUs during the nine months ended March 31, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY
|  | Number of Shares |  |  | Weighted Average Grant date Fair Value |  |  | Weighted Average Remaining Contract Term (# years) |
Outstanding at June 30, 2021 |  |  | 131,652 |  |  | $ | 9.25 |  |  |  |  |
Granted |  |  | 179,614 |  |  | $ | 5.75 |  |  |  |  |
Settled |  |  | (4.578 | ) |  | $ | 11.56 |  |  |  |  |
Forfeited and cancelled |  |  | (35,542 | ) |  | $ | 6.95 |  |  |  |  |
Outstanding at March 31, 2022 |  |  | 271,146 |  |  | $ | 7.19 |  |  |  | 2.34 |
Activity in RSUs during the nine months ended March 31, 2021 and related balances outstanding as of that date are reflected below:
|  | Number of Shares |  |  | Weighted Average Grant date Fair Value |  |  | Weighted Average Remaining Contract Term (# years) |
Outstanding at June 30, 2020 |  |  | - |  |  | $ | - |  |  |  |  |
Granted |  |  | 134,865 |  |  | $ | 8.88 |  |  |  |  |
Forfeited and cancelled |  |  | (6,542 | ) |  | $ | 8.88 |  |  |  |  |
Outstanding at March 31, 2021 |  |  | 128,323 |  |  | $ | 8.88 |  |  |  | 2.91 |
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES | The following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | Three Months Ended March 31, |  |  | Nine Months Ended March 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Research and development |  | $ | 32,000 |  |  | $ | 48,000 |  |  | $ | 122,000 |  |  | $ | 146,000 |
Selling and administrative |  |  | 120,000 |  |  |  | 180,000 |  |  |  | 479,000 |  |  |  | 504,000 |
Total stock-based compensation expense |  | $ | 152,000 |  |  | $ | 228,000 |  |  | $ | 601,000 |  |  | $ | 650,000 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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