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STOCKHOLDERS’ EQUITY (Tables)

6 Months Ended

Dec. 31, 2023

Class of Warrant or Right [Line Items]

SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the six months ended December 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, 2023			1,455,119			$	6.10
Warrants issued			41,196				3.24
Warrants exercised			(83,205	)		$	4.00
Warrants outstanding and exercisable at December 31, 2023			1,413,110			$	6.14				2.98

Warrant detail for the six months ended December 31, 2022 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, 2022			1,455,119			$	6.10
Warrants issued			-			$	-
Warrants exercised			-				-
Warrants outstanding and exercisable at December 31, 2022			1,455,119			$	6.10				3.73

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 

		Six Months Ended December 31,
		2023				2022
Expected volatility			116.41	%			90.12	%
Risk free interest rate			4.90	%			4.21	%
Forfeiture rate			20	%			20	%
Dividend yield			0	%			0	%
Expected term (years)			6.00				6.25	%

SCHEDULE OF STOCK OPTIONS ACTIVITY

Activity in the Company’s stock options during the six months ended December 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, 2023			969,434			$	6.45
Granted			979,204			$	3.36
Exercised			-			$	-
Forfeited and cancelled			(33,644	)		$	7.71
Outstanding at December 31, 2023			1,914,994			$	4.85				8.45
Exercisable at December 31, 2023			517,493			$	8.82				5.57

Activity in the Company’s stock options during the six months ended December 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, 2022			503,433			$	11.03
Granted			624,441			$	3.43
Exercised			(22,500	)		$	4.60
Forfeited and cancelled			(85,772	)		$	13.46
Outstanding at December 31, 2022			1,019,602			$	6.32				7.98
Exercisable at December 31, 2022			399,922			$	10.79				5.10

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the six months ended December 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, 2023			193,749			$	6.09
Granted			-			$	-
Vested and settled			(54,038	)		$	7.27
Forfeited and cancelled			(1,539	)		$	5.75
Outstanding at December 31, 2023			138,172			$	5.63				0.55

Activity in RSUs during the six months ended December 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, 2022			304,221			$	6.06
Granted			5,034			$	2.70
Vested and settled			(32,248	)		$	3.49
Forfeited and cancelled			(60,018	)		$	6.51
Outstanding at December 31, 2022			216,989			$	5.92				1.07

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 

		Three Months Ended December 31,								Six Months Ended December 31,
		2023				2022				2023				2022
Research and development		$	80,000			$	43,000			$	140,000			$	69,000
Selling and administrative			314,000				166,000				530,000				235,000
Total stock-based compensation expense		$	394,000			$	209,000			$	670,000			$	304,000

Warrant [Member]

Class of Warrant or Right [Line Items]

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF STOCK OPTIONS

The Company uses the Black-Scholes valuation model to calculate the fair value of warrants. The fair value of warrants was measured at the issuance date using the assumptions in the table below:

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS 

		Six Months Ended December 31,
		2023				2022(1)
Expected volatility			83.7	%			-*
Risk free interest rate			4.65	%			-*
Dividend yield			0	%			0	%
Expected term (years)			5.00				-*

(1) No warrants were issued during the six months ended December 31, 2022.

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