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Share-Based Payment (Tables) | 12 Months Ended
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Jun. 30, 2023
Share-Based Payment [Abstract] |
Schedule of Assumptions Used to Value the Company's Stock Options Grants | The assumptions used to value the Company’s stock options grants were as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Expected volatility |  |  | 43 | % |  |  | 40 | % |  |  | 41 | %
Risk-free interest rate |  |  | 4.00 | % |  |  | 0.71~1.62 | % |  |  | 0.36 | %
Exercise multiples |  |  | 2.2~2.8 |  |  |  | 2.2~2.8 |  |  |  | 2.2~2.8 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Forfeited rates |  |  | 16~23 | % |  |  | 12~19 | % |  |  | 12~19 | %
Fair market value per common share |  | $ | 1.135 |  |  | $ | 1.92~3.15 |  |  | $ | 2.89 |
Schedule of Stock Options Activities | The following table sets forth the summary of stock options activities:
|  | Number of stock options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant- date Fair Value |  |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value |
Outstanding as of July 1, 2022 |  |  | 4,685,673 |  |  | $ | 2.52 |  |  | $ | 1.14 |  |  | 4.1 years |  |  | - |
Granted |  |  | 1,023,531 |  |  | $ | 0.80 |  |  | $ | 0.57 |  |  |  |  |  | - |
Exercised |  |  | - |  |  | $ | - |  |  | $ | - |  |  |  |  |  | - |
Forfeited or expired |  |  | (483,842 | ) |  |  | 2.08 |  |  |  | 1.05 |  |  |  |  |  | - |
Outstanding as of June 30, 2023 |  |  | 5,225,362 |  |  | $ | 2.22 |  |  | $ | 1.08 |  |  | 2.8 years |  |  | 356,642 |
Outstanding and exercisable as of June 30, 2023 |  |  | 1,509,746 |  |  | $ | 2.82 |  |  | $ | 1.29 |  |  |  |  |  | - |
Vested and expected to vest as of June 30, 2023 |  |  | 3,727,766 |  |  | $ | 2.38 |  |  | $ | 0.42 |  |  | 2.8 years |  |  | 191,772 |
Schedule of RSU Activities | The following table sets forth the summary of RSUs activities:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Outstanding as of July 1, 2022 |  |  | 196,200 |  |  | $ | 3.10 |
Granted |  |  | 1,161,000 |  |  | $ | 1.14 |
Vested |  |  | (1,205,300 | ) |  | $ | 1.21 |
Forfeited or expired |  |  | (48,000 | ) |  | $ | 3.15 |
Outstanding as of June 30, 2023 |  |  | 103,900 |  |  | $ | 3.07 |
Schedule of Share-Based Compensation Expense | The following table summarizes the total share-based compensation expense recognized by the Company:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cost of revenues |  | $ | 16,212 |  |  | $ | 36,906 |  |  | $ | 8,403 |
Selling and marketing expenses |  |  | 129,060 |  |  |  | 165,209 |  |  |  | 122,087 |
General and administrative expenses |  |  | 2,333,023 |  |  |  | 6,982,747 |  |  |  | 4,998,206 |
Total |  | $ | 2,478,295 |  |  | $ | 7,184,862 |  |  | $ | 5,128,696 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
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- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
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