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STOCKHOLDERS’ EQUITY (Tables)

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the year ended June 30, 2023 is reflected below:

SCHEDULE OF STOCK WARRANT ACTIVITY  

		Number of Warrants				Weighted Average Exercise Price Per Warrant				Remaining Contract Term (# years)
Warrants outstanding and exercisable at June 30, 2022			1,455,119			$	6.10
Warrants issued			-			$	-
Warrants outstanding and exercisable at June 30, 2023			1,455,119			$	6.10				3.17

Warrant detail for the year ended June 30, 2022 is reflected below:

		Number of Warrants				Weighted Average Exercise Price Per Warrant				Remaining Contract Term (# years)
Warrants outstanding and exercisable at June 30, 2021			214,883			$	4.49
Warrants issued			1,240,236			$	6.38
Warrants outstanding and exercisable at June 30, 2022			1,455,119			$	6.10				4.17

SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in stock options during the year ended June 30, 2023 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, 2022			503,433			$	11.03
Granted			624,441			$	3.43
Exercised			(22,500	)		$	4.60
Forfeited and cancelled			(131,974	)		$	10.03
Outstanding at June 30, 2023			973,400			$	6.44				7.40
Exercisable at June 30, 2023			398,922			$	10.77				4.61

Activity in stock options during the year ended June 30, 2022 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, 2021			531,205			$	11.02
Exercised			(3,400	)		$	4.65
Forfeited and cancelled			(24,372	)		$	11.65
Outstanding and exercisable at June 30, 2022			503,433			$	11.03				5.66

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the year ended June 30, 2023 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, 2022			304,221			$	6.06
Granted			72,566			$	3.44
Vested and settled			(109,676	)		$	3.77
Forfeited and cancelled			(73,362	)		$	6.80
Outstanding at June 30, 2023			193,749			$	6.09				0.98

Activity in RSUs during the year ended June 30, 2022 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, 2021			131,652			$	9.25
Granted			250,786			$	4.82
Vested/Settled			(9,156	)		$	11.56
Forfeited and cancelled			(69,061	)		$	6.93
Outstanding at June 30, 2022			304,221			$	6.06				1.82

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

The following table summarizes stock-based compensation expense for employee and non-employee option and RSU grants:

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

		Year Ended June 30,
		2023				2022
Research and development		$	173,000			$	144,000
Selling and administrative			625,000				567,000
Total stock-based compensation expense		$	798,000			$	711,000

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS

The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. The fair value of stock options was measured at the grant date using the assumptions (annualized percentages) in the table below:

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS  

		Year Ended June 30,
		2023				2022(1)
Expected volatility			90.12	%			-
Risk free interest rate			4.21	%			-
Forfeiture rate			20	%			-
Dividend yield			0	%			-
Expected term (years)			6.25				-

(1) No stock options were granted during the year ended June 30, 2022.

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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.

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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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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.

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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.

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