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ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS (Tables) | 6 Months Ended
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Dec. 31, 2021
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS |
Summary of company warrants activities and status of warrants | The following table summarizes the Company’s Warrants activities and status of Warrants at December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | Average
​ | ​ | ​ | ​ | Average | ​ | Remaining
​ | ​ | ​ | ​ | Exercise Price | ​ | Period
Warrants | ​ | Warrants | ​ | Per Share | ​ | (Years)
Outstanding as of June 30, 2020 |  | 2,591,112 | ​ | $ | 1.25 |  | 5.5
Issued |  | 8,814,102 | ​ |  | 6.24 |  |
Forfeited |  | — | ​ |  | — |  |
Exercised |  | (2,591,112) | ​ |  | 1.25 |  |
Expired |  | — | ​ |  | — |  |
Outstanding as of June 30, 2021 |  | 8,814,102 | ​ | $ | 6.24 |  | 5.46
Issued |  | — | ​ |  | — |  |
Forfeited |  | — | ​ |  | — |  |
Exercised |  | — | ​ |  | — |  |
Expired |  | — | ​ |  | — |  |
Outstanding as of December 31, 2021 |  | 8,814,102 | ​ | $ | 6.24 |  | 4.96
Schedule of fair value measurement inputs under binomial and black-scholes model | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | June 14, 2021 |
​ | ​ | December 31, | ​ | June 30, | ​ | (Initial |
Input |  | 2021 |  | 2021 |  | measurement) | ​
Stock price |  | 1.31 | ​ | $ | 4.33 |  | 5.01 | ​
Risk-free interest rate |  | 1.25 | % |  | 0.95 | % | 0.90 | %
Volatility |  | 109 | % |  | 111 | % | 111 | %
Exercise price |  | 6.24 | ​ |  | 6.24 |  | 6.24 | ​
Warrant life |  | 5.0 | years |  | 5.5 | years | 5.5 | years
Schedule of liabilities measured at fair value on recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Quoted Prices In |  | Significant Other |  | Significant Other
​ | ​ | June 30, | ​ | Active Markets | ​ | Observable Inputs | ​ | Unobservable Inputs
Description | ​ | 2021 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
Liabilities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Warrant liability | ​ | $ | 29,520,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 29,520,000
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices In |  | Significant Other |  | Significant Other
​ | ​ | December 31, | ​ | Active Markets | ​ | Observable Inputs | ​ | Unobservable Inputs
Description | ​ | 2021 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
Liabilities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Warrant liability | ​ | $ | 6,640,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 6,640,000
​

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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