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STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Mar. 31, 2023
Equity [Abstract] |
SCHEDULE OF STOCK WARRANT ACTIVITY | Warrant detail for the nine months ended March 31, 2023 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, 2022 |  |  | 1,455,119 |  |  | $ | 6.10 |  |  |  |  |
Warrants issued |  |  | 1,071,430 |  |  | $ | 7.00 |  |  |  |  |
Warrants cancelled |  |  | - |  |  | $ |  |  |  |  |  |
Warrants outstanding and exercisable at March 31, 2023 |  |  | 1,455,119 |  |  | $ | 6.10 |  |  |  | 3.48 |
Warrant detail for the nine months ended March 31, 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 |  |  | 1,071,430 |  |  | $ | 7.00 |  |  |  |  |
Warrants outstanding and exercisable at March 31, 2022 |  |  | 1,286,313 |  |  | $ | 6.58 |  |  |  | 4.11 |
SCHEDULE OF STOCK OPTIONS ACTIVITY | Activity in the Company’s stock options during the nine months ended March 31, 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 |  |  | (112,664 | ) |  | $ | 11.07 |  |  |  |  |
Outstanding at March 31, 2023 |  |  | 992,710 |  |  | $ | 6.39 |  |  |  | 7.68 |
Exercisable at March 31, 2023 |  |  | 399,922 |  |  | $ | 10.79 |  |  |  | 4.84 |
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:
|  | 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 |
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY | Activity in RSUs during the nine months ended March 31, 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 |  |  | 5,034 |  |  | $ | 2.70 |  |  |  |  |
Vested and settled |  |  | (32,248 | ) |  | $ | 3.49 |  |  |  |  |
Forfeited and cancelled |  |  | (63,619 | ) |  | $ | 6.53 |  |  |  |  |
Outstanding at March 31, 2023 |  |  | 213,388 |  |  | $ | 5.90 |  |  |  | 0.89 |
Activity in RSUs during the nine months ended March 31, 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 |  |  | 179,614 |  |  | $ | 5.75 |  |  |  |  |
Vested and settled |  |  | (4,578 | ) |  | $ | 11.56 |  |  |  |  |
Forfeited and cancelled |  |  | (35,542 | ) |  | $ | 6.95 |  |  |  |  |
Outstanding at March 31, 2022 |  |  | 271,146 |  |  | $ | 7.19 |  |  |  | 2.34 |
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
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three Months Ended March 31, |  |  | Nine Months Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Research and development |  | $ | 48,000 |  |  | $ | 32,000 |  |  | $ | 117,000 |  |  | $ | 122,000 |
Selling and administrative |  |  | 187,000 |  |  |  | 120,000 |  |  |  | 422,000 |  |  |  | 479,000 |
Total stock-based compensation expense |  | $ | 235,000 |  |  | $ | 152,000 |  |  | $ | 539,000 |  |  | $ | 601,000 |
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
|  | 2023 |  |  | 2022(1) |
|  | Nine Months Ended March 31, |
|  | 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 nine months ended March 31, 2022.

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
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