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EQUITY (Tables)
 6 Months Ended
Dec. 31, 2022
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:

 

   2022   2021   2022   2021 
   For the Three Months Ended
December 31,		   For the Six Months Ended
December 31,		 
   2022   2021   2022   2021 
Weighted average expected terms (in years)   6.0    5.6    6.0    5.5 
Weighted average expected volatility   100.7%   229.3%   101.2%   171.4%
Weighted average risk-free interest rate   3.8%   1.2%   3.1%   1.0%
Expected dividend yield   0.0%   0.0%   0.0%   0.0%
SUMMARY OF STOCK OPTION ACTIVITY

The following is a summary of the Company’s stock option activity for the six months ended December 31, 2022 and 2021:

 

       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   414,077    7.00    9.7    - 
Options Exercised   (77,853)   3.87    6.5    94,715 
Options Forfeited / Cancelled   (194,594)   7.95    8.8    20,074 
Outstanding at December 31, 2022   4,626,246   $4.75    6.6   $912,271 
Exercisable at December 31, 2022   3,507,922   $3.64    5.8   $912,271 

 

       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   158,907    8.59    9.8    714,854 
Options Exercised   (751,925)   2.62    7.8    (7,775,919)
Options Forfeited / Cancelled   (173,190)   4.42    8.9    (1,479,671)
Outstanding at December 31, 2021   3,974,702   $3.71    8.6   $24,522,730 
Exercisable at December 31, 2021   3,784,856   $3.52    8.5   $23,983,666 
SCHEDULE OF STOCK OPTION-BASED EXPENSE

The Company’s stock option-based expense for the three and six months ended December 31, 2022 and 2021 consisted of the following:

SCHEDULE OF STOCK OPTION-BASED EXPENSE   

   2022   2021   2022   2021 
   For the Three Months Ended   For the Six Months Ended 
   December 31,   December 31, 
   2022   2021   2022   2021 
Stock option-based expense :                    
Research and development expenses  $383,617   $257,911   $771,057   $605,508 
General and administrative expenses   34,774    57,929    89,048    124,572 
Sales and marketing expenses   133,621    112,847    320,281    240,839 
Cost of goods sold   61    21,394    755    44,158 
Board option expense   146,783    89,686    293,567    178,305 
Total  $698,856   $539,767   $1,474,708   $1,193,382