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EQUITY (Tables) | 12 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
SCHEDULE OF STOCK OPTION FAIR VALUE 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: SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS
|  | 2023 |  |  | 2022 |
|  | For the Years Ended June 30, |
|  | 2023 |  |  | 2022 |
Weighted average expected terms (in years) |  |  | 6.0 |  |  |  | 5.7 |
Weighted average expected volatility |  |  | 88.8 | % |  |  | 236.7 | %
Weighted average risk-free interest rate |  |  | 3.9 | % |  |  | 1.7 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
SUMMARY OF STOCK OPTION ACTIVITY | The following is a summary of the Company’s stock option activity for the years ended June 30, 2023 and 2022, excluding the executive Target Options: SUMMARY OF STOCK OPTION ACTIVITY
|  |  |  |  | Weighted Average |  |  |  |
|  |  |  |  |  |  |  | Remaining |  |  |  |
|  |  |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term (Yrs) |  |  | Value |
Outstanding at July 1, 2022 |  |  | 4,484,616 |  |  | $ | 4.68 |  |  |  | 7.0 |  |  | $ | 2,404,249 |
Options Granted |  |  | 2,155,909 |  |  |  | 5.63 |  |  |  | 9.6 |  |  |  | - |
Options Exercised |  |  | (104,932 | ) |  |  | 3.94 |  |  |  | 6.1 |  |  |  | 99,505 |
Options Forfeited / Cancelled |  |  | (407,212 | ) |  |  | 7.39 |  |  |  | 8.5 |  |  |  | 28,830 |
Outstanding at June 30, 2023 |  |  | 6,128,381 |  |  | $ | 4.84 |  |  |  | 7.0 |  |  | $ | 1,676,966 |
Exercisable at June 30, 2023 |  |  | 3,741,523 |  |  | $ | 3.96 |  |  |  | 5.6 |  |  | $ | 1,676,966 |
|  |  |  |  | Weighted Average |  |  |  |
|  |  |  |  |  |  |  | Remaining |  |  |  |
|  |  |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term (Yrs) |  |  | Value |
Outstanding at July 1, 2021 |  |  | 4,740,910 |  |  | $ | 3.40 |  |  |  | 8.5 |  |  | $ | 7,893,467 |
Options Granted |  |  | 1,037,252 |  |  |  | 9.15 |  |  |  | 9.6 |  |  |  | 2,578,954 |
Options Exercised |  |  | (969,775 | ) |  |  | 2.90 |  |  |  | 5.4 |  |  |  | (8,419,947 | )
Options Forfeited / Cancelled |  |  | (323,771 | ) |  |  | 5.65 |  |  |  | 7.9 |  |  |  | (1,908,018 | )
Outstanding at June 30, 2022 |  |  | 4,484,616 |  |  | $ | 4.68 |  |  |  | 7.0 |  |  | $ | 2,404,249 |
Exercisable at June 30, 2022 |  |  | 3,546,297 |  |  | $ | 3.54 |  |  |  | 6.3 |  |  | $ | 2,404,249 |
SCHEDULE OF STOCK OPTION-BASED EXPENSE | The Company’s stock option-based expense for the years ended June 30, 2023 and 2022 consisted of the following: SCHEDULE OF STOCK OPTION-BASED EXPENSE
|  | 2023 |  |  | 2022 |
|  | For the Years Ended June 30, |
|  | 2023 |  |  | 2022 |
Stock option-based expense: |  |  |  |  |  |
Research and development expenses |  | $ | 1,717,955 |  |  | $ | 1,470,039 |
General and administrative expenses |  |  | 299,664 |  |  |  | 210,876 |
Sales and marketing expenses |  |  | 833,817 |  |  |  | 585,380 |
Cost of goods sold |  |  | 755 |  |  |  | 49,617 |
Board option expense |  |  | 441,754 |  |  |  | 481,386 |
Total |  | $ | 3,293,945 |  |  | $ | 2,797,298 |

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