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ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS (Tables)
12 Months Ended
Jun. 30, 2023
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS  
Summary of fair value measurement inputs under binomial and black-scholes model

June 30,

June 30,

 

Input

    

2023

    

2022

 

Number of warrants

 

47,963

$

441,710

$

489,673

Share price

 

0.34

$

0.34

$

0.66

Risk-free interest rate

 

4.41

%  

 

4.41

%  

 

3.00

%

Volatility

 

127

%  

 

127

%  

 

109

%

Exercise price

 

112.32

 

14.40

 

112.32

Warrant life

 

3.47 years

 

3.47 years

 

4.46 years

    

    

March 15, 2023

 

June 30,

(Initial

 

Input

2023

measurement)

 

Number of warrants

555,694

$

555,694

Share price

0.34

$

0.37

Risk-free interest rate

3.59

%  

 

3.58

%

Volatility

110

%  

 

110

%

Exercise price

14.40

14.40

Warrant life

5.22 years

 

5.50 years

Summary 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

2022

(Level 1)

(Level 2)

(Level 3)

Liabilities:

 

  

 

  

 

  

 

  

Warrant liability

$

2,490,000

$

$

$

2,490,000

    

  

    

Quoted Prices In

    

Significant Other

    

Significant Other

 

June 30,

 

Active Markets

 

Observable Inputs

 

Unobservable Inputs

Description

    

2023

    

(Level 1)

    

(Level 2)

    

(Level 3)

Liabilities:

 

  

 

  

 

  

 

  

Warrant liability

$

4,360,000

$

$

$

4,360,000

Summary of company warrants activities and status of warrants

    

    

Weighted

    

Average

Average

Remaining

Exercise Price

Period

Warrants

    

Warrants

    

Per Share

    

(Years)

Outstanding as of June 30, 2021

 

489,673

$

112.32

 

5.46

Issued

 

 

  

Forfeited

 

 

  

Exercised

 

 

  

Expired

 

 

  

Outstanding as of June 30, 2022

 

489,673

$

112.32

 

4.46

Issued

 

555,694

14.40

 

5.50

Forfeited

 

 

  

Exercised

 

 

  

Expired

 

 

  

Outstanding as of June 30 2023

 

1,045,367

$

18.90

 

4.40