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Note 13 - Warrants | 6 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Warrants or Rights Disclosure [Text Block] | 13. Warrants In July 2020, the Company issued 92,302 shares of warrants with a weighted average exercise price of $15.99 in connection with the March Offerings. The warrants have a term of one year from the issuance date. These warrants have a fair value of $356,000 and are classified within stockholders' equity. On December 15, 2020, the Company issued 311,458 shares of warrants with an exercise price of $7.50 in connection with the December 15, 2020 offering. These warrants have a fair value of approximately $1.3 million and are classified within stockholders' equity. Significant assumptions in valuing the warrants issued during the quarter are as follows:
|  | Warrants Issued Three Months Ended December 31, 2020 |
Expected volatility |  |  | 100 | %
Equivalent term (years) |  |  | 5.0 |
Risk-free rate |  |  | 37 | %
Dividend yield |  |  | 0.00 | %
A summary of equity-based warrants is as follows:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |
Outstanding June 30, 2020 |  |  | 2,288,528 |  |  | $ | 30.26 |  |  |  | 2.00 |
Warrants issued |  |  | 403,760 |  |  |  |  |  |  |  |  |
Warrants expired |  |  | (842 | ) |  |  |  |  |  |  |  |
Warrants exercised |  |  | - |  |  |  |  |  |  |  |  |
Outstanding December 31, 2020 |  |  | 2,691,446 |  |  | $ | 26.94 |  |  |  | 1.65 |

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