XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (2,400,066) $ (9,296,960)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 1,040,759 1,645,846
Common stock and stock option based compensation for employees and board of directors 1,742,126 2,784,667
Accrued non cash performance bonus fair value adjustment (551,236)
Acquisition contingent consideration fair value adjustment (4,317,524) (677,113)
Impairment of goodwill and intangible assets 901,204 479,182
Issuance of common stock to vendors as compensation 88,472 5,238
Adjustment to operating lease right-of-use assets and liabilities (99,144) (15,056)
Changes in operating assets and liabilities:    
Accounts receivable 478,598 (48,340)
Deferred costs/contract assets 86,347 519,673
Prepaid expenses and other current assets (251,030) (120,436)
Other assets (1,506) 149,962
Accounts payable (214,705) (525,832)
Accrued liabilities (388,644) (149,673)
Deferred revenue/contract liabilities (396,546) (2,348,561)
Net cash used in operating activities (4,282,895) (7,597,403)
Cash flow from investing activities:    
Purchases of equipment (19,346) (139,420)
Acquisitions, net of cash acquired (2,522,756)
Purchase of investments (8,197)
Net cash used in investing activities (19,346) (2,670,373)
Cash flows provided by financing activities:    
Proceeds from securities purchase agreement, net 2,968,501
Proceeds from exercise of stock options 66,111
Cash provided by financing activities 2,968,501 66,111
Net change in cash, cash equivalents and restricted cash (1,333,740) (10,201,665)
Cash, cash equivalents and restricted cash, beginning of year 5,619,083 18,249,666
Cash, cash equivalents and restricted cash, end of period 4,285,343 8,048,001
Non-cash Investing and Financing activities:    
Issuance of common stock for satisfaction of contingent liability 974,647 2,093,037
Issuance of common stock for non cash performance bonus 490,360
Lease liabilities arising from right-of-use assets 113,182 1,221,513
Note receivable for sale of subsidiary assets 1,000,000
Allowance against note receivable (1,000,000)
Common stock issued for acquisition 2,845,430
Contingent acquisition consideration liability recorded at closing 6,139,000
Common stock issued for purchase of intangible asset - technology 326,436
Issuance of common stock for satisfaction of contingent liability, net of note extinguishment 318,571
Extinguishment of note receivable for satisfaction of contingent liability $ 250,000