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STOCKHOLDERS’ EQUITY (Tables)

9 Months Ended

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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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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