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STOCKHOLDERS’ EQUITY (Tables)

9 Months Ended

Mar. 31, 2024

Class of Warrant or Right [Line Items]

SCHEDULE OF STOCK WARRANT ACTIVITY

Warrant detail for the nine months ended March 31, 2024 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 March 31, 2024			1,413,110			$	6.14				2.73

Warrant detail for the nine months ended March 31, 2023 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 March 31, 2023			1,455,119			$	6.10				3.48

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS AND 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 WARRANTS AND STOCK OPTIONS 

		Nine Months Ended March 31,
		2024				2023
Expected volatility			116.15	%			90.12	%
Risk free interest rate			4.86	%			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 nine months ended March 31, 2024 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			1,034,204			$	3.45
Exercised			(91,110	)		$	3.40
Forfeited and cancelled			(174,493	)		$	4.69
Outstanding at March 31, 2024			1,738,035			$	5.00				7.94
Exercisable at March 31, 2024			497,095			$	8.87				4.55

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:

		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

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

Activity in RSUs during the nine months ended March 31, 2024 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			(63,168	)		$	7.39
Forfeited and cancelled			(8,809	)		$	7.11
Outstanding at March 31, 2024			121,772			$	5.33				0.26

Activity in RSUs during the nine months ended March 31, 2023 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			(63,619	)		$	6.53
Outstanding at March 31, 2023			213,388			$	5.90				0.89

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 

		2024				2023				2024				2023
		Three Months Ended March 31,								Nine Months Ended March 31,
		2024				2023				2024				2023
Research and development		$	35,000			$	48,000			$	175,000			$	117,000
Selling and administrative			528,000				187,000				1,058,000				422,000
Total stock-based compensation expense		$	563,000			$	235,000			$	1,233,000			$	539,000

Warrant [Member]

Class of Warrant or Right [Line Items]

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS AND 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 

		Nine Months Ended March 31,
		2024				2023(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 nine months ended March 31, 2023.

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