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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

12 Months Ended

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:

	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	)