LIQUIDITY AND CAPITAL RESOURCES	9 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND CAPITAL RESOURCES	NOTE 2. LIQUIDITY AND CAPITAL RESOURCES The Company incurred losses of approximately $9.30 million and approximately $4.98 million during the nine months ended March 31, 2023 and 2022, respectively. These losses were incurred as the Company funded operational expenses, primarily research and development, general and administrative, and sales and marketing costs. The Company is striving to reach cash flow neutrality from operations in calendar year 2023. The following steps have been taken since the end of calendar year 2022 in order to achieve this objective: workforce reduction of approximately 10%, cash salary reductions (replaced by Company common stock or stock options) ranging from 20-25% for executives and 10-20% for several higher salaried employees, reduction in leased office space and reduction in outsourced services. Accordingly, management believes that the Company’s existing balances of cash and cash equivalents and accounts receivable as of the issuance date of these financial statements, which are approximately $5.5 million (excluding an additional $2 million held in escrow for potential future Sector 5 Digital, LLC (“S5D”) acquisition performance payment obligations) and $1.50 million, respectively, will be sufficient to meet its anticipated cash requirements for at least twelve months from the date that these financial statements are issued. However, should the Company’s current cash and cash equivalents not be sufficient to support the development of its business to the point at which it has positive cash flows from operations, the Company plans to meet its future needs for additional capital through equity and/or debt financings. Equity financings may include sales of common stock, including the utilization of an untapped $100 million S3 registration statement filed with the United State Securities and Exchange Commission (“SEC”) on October 28, 2022. Such financing may not be available on terms favorable to the Company, or at all. If the Company is unable to obtain adequate financing or financing on terms satisfactory to it when required, the Company’s ability to continue to support its business growth, scale its infrastructure, develop product enhancements and to respond to business challenges could be significantly impaired. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022

LIQUIDITY AND CAPITAL RESOURCES

9 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 2. LIQUIDITY AND CAPITAL RESOURCES

The Company incurred losses of approximately $9.30 million and approximately $4.98 million during the nine months ended March 31, 2023 and 2022, respectively. These losses were incurred as the Company funded operational expenses, primarily research and development, general and administrative, and sales and marketing costs.

The Company is striving to reach cash flow neutrality from operations in calendar year 2023. The following steps have been taken since the end of calendar year 2022 in order to achieve this objective: workforce reduction of approximately 10%, cash salary reductions (replaced by Company common stock or stock options) ranging from 20-25% for executives and 10-20% for several higher salaried employees, reduction in leased office space and reduction in outsourced services. Accordingly, management believes that the Company’s existing balances of cash and cash equivalents and accounts receivable as of the issuance date of these financial statements, which are approximately $5.5 million (excluding an additional $2 million held in escrow for potential future Sector 5 Digital, LLC (“S5D”) acquisition performance payment obligations) and $1.50 million, respectively, will be sufficient to meet its anticipated cash requirements for at least twelve months from the date that these financial statements are issued. However, should the Company’s current cash and cash equivalents not be sufficient to support the development of its business to the point at which it has positive cash flows from operations, the Company plans to meet its future needs for additional capital through equity and/or debt financings. Equity financings may include sales of common stock, including the utilization of an untapped $100 million S3 registration statement filed with the United State Securities and Exchange Commission (“SEC”) on October 28, 2022. Such financing may not be available on terms favorable to the Company, or at all. If the Company is unable to obtain adequate financing or financing on terms satisfactory to it when required, the Company’s ability to continue to support its business growth, scale its infrastructure, develop product enhancements and to respond to business challenges could be significantly impaired.

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

MARCH 31, 2023 AND 2022