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Balance Sheets - USD ($)
Jun. 30, 2024
Jun. 30, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 23,843,798 $ 19,460,883
Investments in U.S. Treasury Bills (available-for-sale) 14,477,726
Prepaid and other current assets 204,392 102,526
Total current assets 24,048,190 34,041,135
Operating lease right-of-use assets, net 406,726 80,789
Intangible assets, net 407,718 637,095
Goodwill 345,711 345,711
TOTAL ASSETS 25,208,345 35,104,730
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 3,586,912 3,476,259
Other current liabilities 48,385
Current portion of operating lease liabilities 60,343 44,909
Current portion of note payable, net of financing cost, unearned premium and discount of $701,210 at June 30, 2024 and $894,926 at June 30, 2023 5,701,210 9,105,074
Warrant liability 3,771 894,280
Embedded derivative liability 925,762
Total current liabilities 9,352,236 14,494,669
Operating lease liabilities, net of current portion 349,894 42,505
Note payable, net of current portion, financing cost, unearned premium and  discount of $0 and $227,268 at June 30, 2024 and June 30, 2023, respectively. 5,227,270
TOTAL LIABILITIES 9,702,130 19,764,444
STOCKHOLDERS' EQUITY :    
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.0001 par value; 800,000,000 shares authorized at June 30, 2024 and June 30, 2023, respectively; 6,216,398 shares issued of which 6,190,072 shares are outstanding at June 30, 2024; and 3,645,183 shares issued of which 3,642,895 shares outstanding at June 30, 2023 6,229 3,643
Additional paid in capital 349,732,674 316,385,759
Accumulated other comprehensive income 176,591
Accumulated deficit (334,232,661) (301,225,705)
Treasury stock (27) (2)
Total stockholders' equity 15,506,215 15,340,286
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,208,345 $ 35,104,730