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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS | 12 Months Ended
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Jun. 30, 2024
Restatement Of Previously Issued Financial Statements |
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS | NOTE 2 — RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS During the preparation of the Company’s Form 10-Q for the period ended December 31, 2024, the Company determined that certain warrants which were exercised during the three months ended March 31, 2024, had not been appropriately reflected as a component of the change in fair value of the contingent consideration for the year ended June 30, 2024. The number of shares underlying these warrants was 3,425,399 which had a fair value of $7,775,656 on the date of exercise. The impact of the restatement on these financial statements by line item is as follows:
Schedule of restatement on these financial statements |  | As Reported |  | Change |  | As Restated
Common stock |  | $ | 15,504 |  |  | $ | 343 |  |  | $ | 15,847 |
Additional paid-in capital |  | $ | 456,811,911 |  |  | $ | 7,775,313 |  |  | $ | 464,587,224 |
Accumulated deficit |  | $ | (324,679,425 | ) |  | $ | (7,775,656 | ) |  | $ | (332,455,081 | )
Change in fair value of contingent consideration |  | $ | 4,727,473 |  |  | $ | (7,775,656 | ) |  | $ | (3,048,183 | )
Net loss |  | $ | (80,650,172 | ) |  | $ | (7,775,656 | ) |  | $ | (88,425,828 | )
Comprehensive loss |  | $ | (80,791,136 | ) |  | $ | (7,775,656 | ) |  | $ | (88,566,792 | )
Basic and diluted net loss per share |  | $ | (0.84 | ) |  | $ | (0.07 | ) |  | $ | (0.91 | )

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