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Equity (Tables)

9 Months Ended

12 Months Ended

Mar. 31, 2021

Jun. 30, 2020

Equity [Abstract]

Schedule of Black-Scholes Option-Pricing Model Assumptions

Stock options have been recorded at their fair value. The Black-Scholes option-pricing model assumptions used to value the issuance of stock options under the Plan, are noted in the following table:

		Nine Months Ended March 31, 2021				Nine Months Ended March 31, 2020
Weighted average expected terms (in years)			5.2				5.2
Weighted average expected volatility			125.9	%			117.3	%
Weighted average risk-free interest rate			0.4	%			1.5	%
Expected dividend yield			0	%			0	%

The Black-Scholes option-pricing model assumptions used to value the issuance of stock options under the Plan, are noted in the following table:

		Year Ended June 30, 2020				Year Ended June 30, 2019
Weighted average expected terms (in years)			5.3				4.7
Weighted average expected volatility			117	%			120	%
Weighted average risk-free interest rate			1.4	%			2.5	%
Expected dividend yield			0	%			0	%

Summary of Stock Option Activity

The following is a summary of the Company’s stock option activity for the nine months ended March 31, 2021 and 2020:

						Weighted Average
										Remaining
						Exercise				Contractual				Intrinsic
		Options				Price				Term (Yrs)				Value
Outstanding at July 1, 2019			3,408,452			$	2.97				8.5			$	3,721,339
Options Granted			639,543				4.22				9.6			$	181,953
Options Exercised			-				-				-				-
Options Forfeited / Cancelled			(66,719	)			3.73				9.5				(53,774	)
Outstanding at March 31, 2020			3,981,276				3.15				8.4			$	5,553,916
Exercisable at March 31, 2020			3,370,366			$	3.00				8.3			$	5,362,387

						Weighted Average
										Remaining
						Exercise				Contractual				Intrinsic
		Options				Price				Term (Yrs)				Value
Outstanding at July 1, 2020			4,092,593			$	3.19				8.4			$	5,553,916
Options Granted			576,408				4.55				9.8			$	288,204
Options Exercised			-				-				-				-
Options Forfeited / Cancelled			(101,251	)			4.20				8.8				(81,530	)
Outstanding at March 31, 2021			4,567,750			$	3.34				8.5			$	7,806,887
Exercisable at March 31, 2021			4,178,316			$	3.24				8.4			$	7,564,222

The following is a summary of the Company’s stock option activity for the years ended June 30, 2020 and 2019:

						Weighted Average
		Options				Exercise Price				Remaining Contractual Term (Yrs)				Intrinsic Value
Outstanding at July 1, 2018			2,492,006			$	2.47				9.1			$	1,937,593
Options Granted			1,060,557				4.19				8.6				-
Options Exercised			-				-				-				-
Options Forfeited / Cancelled			(144,111	)			3.41				9.2				(86,459	)
Outstanding at June 30, 2019			3,408,452			$	2.97				8.5			$	3,721,339
Exercisable at June 30, 2019			2,805,437			$	2.87				8.4			$	3,380,482

						Weighted Average
		Options				Exercise Price				Remaining Contractual Term (Yrs)				Intrinsic Value
Outstanding at July 1, 2019			3,408,452			$	2.97				8.5			$	3,721,339
Options Granted			766,455				4.26				9.5			$	182,328
Options Exercised			-				-				-				-
Options Forfeited / Cancelled			(82,314	)			3.84				9.6				(53,977	)
Outstanding at June 30, 2020			4,092,593			$	3.19				8.4			$	5,553,916
Exercisable at June 30, 2020			3,581,514			$	3.06				8.3			$	5,365,512

Schedule of Stock Option-Based Expense

The Company’s stock option-based expense for the nine months ended March 31, 2021 and 2020 consisted of the following:

		Nine Months Ended March 31, 2021				Nine Months Ended March 31, 2020
Stock option-based expense :
Research and development expenses		$	886,591			$	931,796
General and administrative expenses			419,193				392,672
Sales and marketing expenses			310,710				170,259
Cost of goods sold			497,370				203,444
Board option expense			128,043				129,278
Total		$	2,241,907			$	1,827,449

The Company’s stock option-based expense for the years ended June 30, 2020 and June 30, 2019 consisted of the following:

		June 30, 2020				June 30, 2019
Stock option-based expense:
Research and development expenses		$	1,266,911			$	1,313,946
General and administrative expenses			570,765				470,748
Sales and marketing expenses			293,226				181,903
Cost of goods sold			236,825				58,182
Board option expense			182,794				885,206
Total		$	2,550,521			$	2,909,985

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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