Net Income (Loss) per Share

6 Months Ended

Dec. 31, 2025

Net Income (Loss) per Share [Abstract]

Note 14. Net Income (Loss) per Share

The following table details the compilation of diluted earnings per share for the three and six months ended December 31, 2025 and 2024:


	Three Months Ended December 31,						Six Months Ended December 31,
	2025			2024			2025			2024
Earnings per share - basic:
Net income (loss)	$	1,864,092		$	(1,943,349	)	$	(8,042,412	)	$	(2,748,136	)
Weighted average shares - basic		4,536,235			1,575,244			3,391,151			1,437,654
Net income (loss) per share - basic	$	0.41		$	(1.23	)	$	(2.37	)	$	(1.91	)

Earnings per share - diluted:
Net income (loss)	$	1,864,092		$	(1,943,349	)	$	(8,042,412	)	$	(2,748,136	)
Less: effect of revaluation of accompanying warrant liability		(5,379,435	)		(881,462	)		(988,709	)		(3,847,707	)
Net income (loss) excluding revaluation of accompanying warrants	$	(3,515,343	)	$	(2,824,811	)	$	(9,031,121	)	$	(6,595,843	)
Weighted average shares - diluted		4,536,235			1,575,244			3,391,151			1,437,654
Net income (loss) per share - diluted	$	(0.77	)	$	(1.79	)	$	(2.66	)	$	(4.59	)

In December 2025, the FASB issued ASU 2025-12, Codification Improvements. The guidance clarifies the application of ASC 260 on how to calculate diluted earnings per share (“EPS”) when an entity has a loss from continuing operations and a contract that may be settled in stock or cash that is reported as a liability for accounting purposes. These types of contracts may require an adjustment to the numerator in the diluted EPS calculation for any changes in income or loss that would result as if the contract had been reported as an equity instrument.

The guidance specifies that an entity should consider whether including the potential common shares would have a dilutive or anti-dilutive effect on the diluted EPS computation by evaluating the combined effect of any numerator and denominator adjustment, even if a loss from continuing operations exists.

The application of this instrument-specific guidance, in accordance with ASC 260-10-45-45 and 46, required the removal of the gain on fair value associated with the accompanying warrant liability such that the numerator resulted in a net loss for diluted EPS purposes.

The following potential shares of common stock are anti-dilutive and are therefore excluded from the weighted average number of ordinary shares for the purposes of diluted loss per share.


	December 31,
	2025		2024
Options to purchase common stock		136,770		50,854
Warrants to purchase common stock		1,054,381		1,054,381