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EQUITY (Tables)
 9 Months Ended
Mar. 31, 2024
Equity [Abstract]  
SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTION

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 for the specific periods below are noted in the following table:

 

   2024   2023   2024   2023 
   For the Three Months Ended
March 31,		   For the Nine Months Ended
March 31,		 
   2024   2023   2024   2023 
Weighted average expected terms (in years)   4.9    6.0    4.9    6.0 
Weighted average expected volatility   103.8%   100.7%   103.5%   100.8%
Weighted average risk-free interest rate   4.2%   3.8%   4.2%   3.7%
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 nine months ended March 31, 2024 and 2023, 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   1,153,662    2.32    9.8    128,315 
Options Exercised   (25,000)   2.00    2.6    191 
Options Forfeited / Cancelled   (3,418,851)   4.91    6.8    88 
Outstanding at March 31, 204   3,838,192   $4.05    6.9   $- 
Exercisable at March 31, 2024   2,234,420   $4.04    5.1   $- 
 
       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   2,096,933    5.63    9.8    4,862 
Options Exercised   (94,932)   3.88    6.2    107,426 
Options Forfeited / Cancelled   (291,605)   7.87    8.7    16,208 
Outstanding at March 31, 2023   6,195,012   $5.38    7.9   $2,005,800 
Exercisable at March 31, 2023   3,677,049   $3.91    5.7   $2,005,800 
 
SCHEDULE OF STOCK OPTION-BASED EXPENSE

The Company’s stock option-based expense for the three and nine months ended March 31, 2024 and 2023 consisted of the following:

  

    2024     2023     2024     2023  
    For the Three Months Ended     For the Nine Months Ended   
    March 31,     March 31,   
    2024     2023     2024     2023  
Stock option-based expense:                        
Research and development expenses   $ 71,840     $ 433,877     $ 520,697     $ 1,204,934  
General and administrative expenses     65,362       86,729       238,905       175,777  
Sales and marketing expenses     (32,704 )     238,180       254,943       558,461  
Cost of goods sold     -       -       -       755  
Board option expense     26,271       85,752       169,546       379,319  
Total   $ 130,769     $ 844,538     $ 1,184,091     $ 2,319,246