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Subscription Advance | 9 Months Ended
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Mar. 31, 2025
Subscription Advance [Abstract] |
Subscription Advance | 9. Subscription Advance In January 2025, the Company launched a unit offering pursuant to which the Company is offering to accredited investors, in a private placement transaction, up to 266,667 units, at a purchase price of $7.50 per unit, for gross proceeds of up to $2,000,000; provided that the Company may increase the offering to 533,333 units for gross proceeds of up to $4,000,000 if there are oversubscriptions. Each unit consists of a 12% unsecured promissory note in the principal amount of $7.50 and a warrant to purchase one share of class B common stock at an exercise price equal to the last closing price prior to the closing date; provided that such exercise price shall not exceed $1.50. The closing was to occur, at the Company’s discretion, on or before March 1, 2025, at which time the Company will issue the notes and the warrants. The closing was extended and completed on April 16, 2025 (see Note 15). As of March 31, 2025, the Company received an aggregate of $1,000,000 from seven investors. Since such funds were delivered prior to the Company’s execution of the subscription agreements, the Company recorded such funds as subscription advances.

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- Definition The entire disclosure for subscription advance. + References No definition available. + Details
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