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Subsequent Events
12 Months Ended
Jun. 30, 2025
Subsequent Events  
Subsequent Events

Note 12 - Subsequent Events

As discussed at Note 8 to the financial statements, on April 15, 2024, the Company entered into a sales agreement with. D. Boral Securities (formerly EF Hutton, LLC), the Sales Agent, pursuant to which the Company may offer and sell, from time to time, through or to the Sales Agents, shares of common stock At-the-Market or ATM Offering. From July 1, 2025 through September 24, 2025, the Company sold 824,535 shares of common stock at an average price of approximately $1.57 per share. The shares were issued pursuant to a prospectus supplement dated May 5, 2023 and filed with the Securities and Exchange Commission on May 5, 2023 in connection with the Company’s shelf registration statement on Form S-3, as amended File No. 333-271706, which became effective on May 22, 2023. The net proceeds to the Company from the offering from July 1, 2025 through September 24, 2025 was approximately $1.25 million after placement agent fees and other estimated offering expenses.

As of July 1, 2025, the Company, pursuant to Article 2.5 of the Company’s Line of Credit Agreement with Dr. Anil Diwan, signed an Amendment Agreement which extended the maturity of the Company’s Line of Credit from March 31, 2026 to March 31, 2027. There were no other amendments to the original Line of Credit. The Company has not drawn against the Line of Credit facility as of June 30, 2025.