XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Operating Expenses        
General and administrative $ 7,652,379 $ 3,796,057 $ 19,558,981 $ 12,365,960
Research and development 1,087,156 239,137 2,274,321 3,170,471
Intangible asset impairment (Note 6) 42,611,000 0 42,611,000 0
Depreciation and amortization 30,305 28,242 90,727 85,487
Total Operating Expenses 51,380,840 4,063,436 64,535,029 15,621,918
LOSS FROM OPERATIONS (51,380,840) (4,063,436) (64,535,029) (15,621,918)
Other Income (Expense)        
Change in fair value of contingent consideration (Note 4) (7,289,156) 0 (7,289,156) 0
Loss on extinguishment of debt 0 0 (120,018) 0
Loss on extinguishment of contingent consideration liability 0 0 0 (419,182)
Interest expense (303,802) (122,289) (758,057) (310,766)
Interest and other income (expense) (16,272) (142,571) 8,041 (133,938)
Total Other Income (Expense) (7,609,230) (264,860) (8,159,190) (863,886)
NET LOSS $ (58,990,070) $ (4,328,296) $ (72,694,219) $ (16,485,804)
BASIC LOSS PER SHARE $ (0.54) $ (0.08) $ (0.91) $ (0.30)
DILUTED LOSS PER SHARE $ (0.54) $ (0.08) $ (0.91) $ (0.30)
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING - BASIC 109,249,637 55,974,605 79,754,095 55,524,511
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING - DILUTED 109,249,637 55,974,605 79,754,095 55,524,511