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EQUITY (Tables)
 3 Months Ended
Sep. 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:

 

           
  

For the Three Months Ended

September 30,

 
   2023   2022 
Weighted average expected terms (in years)   6.5    6.5 
Weighted average expected volatility   97.8%   101.4%
Weighted average risk-free interest rate   4.6%   2.9%
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 three months ended September 30, 2023 and 2022, excluding the executive Target Options:

 

       Weighted Average     
           Remaining     
       Exercise   Contractual   Intrinsic 
   Options   Price   Term (Yrs)   Value 
Outstanding at July 1, 2023   6,128,381   $4.84    7.0   $1,676,966 
Options Granted   259,747    2.57    10.0    102,407 
Options Exercised   (25,000)   2.00    3.1    22,741 
Options Forfeited / Cancelled   (609,977)   4.79    6.9    102,407 
Outstanding at September 30, 2023   5,753,151   $4.76    7.0   $- 
Exercisable at September 30, 2023   3,585,072   $4.16    5.6   $- 
 
       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   321,787    7.00    9.9    - 
Options Exercised   (66,853)   4.13    7.1    93,945 
Options Forfeited / Cancelled   (72,099)   8.86    9.0    13,273 
Outstanding at September 30, 2022   4,667,451   $4.77    6.9   $6,429,851 
Exercisable at September 30, 2022   3,509,358   $3.59    6.0   $6,382,458 
 
SCHEDULE OF STOCK OPTION-BASED EXPENSE

The Company’s stock option-based expense for the three months ended September 30, 2023 and 2022 consisted of the following:

 

           
   For the Three Months Ended
September 30,		 
   2023   2022 
Stock option-based expense:          
Research and development expenses  $271,129   $387,440 
General and administrative expenses   97,726    54,274 
Sales and marketing expenses   153,424    186,660 
Cost of goods sold   -    694 
Board option expense   74,101    146,784 
Total  $596,380   $775,852