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Shareholders’ Equity | 9 Months Ended
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Mar. 31, 2025
Shareholders’ Equity [Abstract] |
SHAREHOLDERS’ EQUITY | NOTE 12 – SHAREHOLDERS’ EQUITY Common Stock There were no shares of common stock issued during the nine months ended March 31, 2025 and March 31, 2024. On April 23, 2025, the Company issued 1,323,376 shares of common stock to certain key employees pursuant to the Company’s 2023 Equity Incentive Plan. As of July 10, 2025, there were 16,116,914 shares issued and 15,770,934 shares outstanding, compared to 14,793,538 shares issued and 14,793,538 shares outstanding as of June 30, 2024. Preferred Stock Under the Company’s Articles of Incorporation, the Board has the authority, without further action by stockholders, to designate up to 20,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock. If the Company sells preferred stock under its registration statement on Form S-3, it will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series in the certificate of designation relating to that series and will file the certificate of designation that describes the terms of the series of preferred stock the Company offers before the issuance of the related series of preferred stock. As of March 31, 2025, the Company has 20,000,000 shares of preferred stock authorized, with a par value of $.001 per share, of which no shares are issued or outstanding. Share Repurchase Program On January 21, 2025, the Board of Directors of the Company approved a share repurchase program authorizing up to 2,000,000 shares of its common stock, at a price not exceeding $3.00 per share. The Plan is designed to enhance shareholder value, optimize the Company’s capital structure, utilize excess cash in a tax-efficient manner, and signal management’s confidence in the Company’s long-term prospects. The repurchase program is expected to be completed by the end of 2025. Under the plan, the Company may repurchase shares from time to time through open market purchases, privately negotiated transactions, or other methods, in compliance with applicable securities laws. We repurchased the following shares of common stock under the share repurchase program:
Period |  | Total Number of Shares Purchased |  |  | Average Price Paid Per Share |  |  | Total Number of Shares Purchased as Part of Publicly Announced Plans |  |  | Maximum Number of Shares That May Not Yet Be Purchased Under the Plans of Programs |  |  | Dollar Value |
January 1, 2025 to January 31, 2025 |  |  | 181,742 |  |  | $ | 1.03 |  |  |  | 181,742 |  |  |  | 1,818,258 |  |  | $ | 187,122 |
February 1, 2025 to February 28, 2025 |  |  | 164,238 |  |  |  | 1.29 |  |  |  | 164,238 |  |  |  | 1,653,020 |  |  |  | 211,404 |
March 1, 2025 to March 31, 2025 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 345,980 |  |  | $ | 1.15 |  |  |  | 345,980 |  |  | $ | 1,653,020 |  |  | $ | 398,526 |
During the nine months ended March 31, 2025, the Company repurchased 345,980 shares of its common stock under an authorized share repurchase program for $398,526. All repurchases were made using cash resources. All shares repurchased were under the share repurchase program approved on January 21, 2025. During the nine months ended March 31, 2024, the Company did not repurchase any common stock.

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