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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of basic and diluted net income (loss) per share of Common Stock | The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except share amounts):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | FOR THE YEAR ENDED | ​ | FOR THE TRANSITION PERIOD ENDED
​ | ​ | June 30, 2025 | ​ | June 30, 2024
​ |  | Non- | ​ | ​ | ​ |  | Non-
​ |  | Redeemable |  | Redeemable |  | redeemable
Basic and diluted net income (loss) per share of Common Stock |  | ​ | ​ | ​ | ​ |  |  | ​ |
Numerator: |  | ​ | ​ | ​ | ​ |  |  | ​ |
Net income (loss) | ​ | $ | 5,750,820 | ​ | $ | (11,279,605) | ​ | $ | (108,927,342)
Deemed dividend | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (15,422,431)
Allocation of net income (loss) | ​ | $ | 5,750,820 | ​ | $ | (11,279,605) | ​ | $ | (124,349,773)
Denominator: | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​
Basic and diluted weighted average shares outstanding | ​ | ​ | 5,987,645 | ​ |  | 18,500 | ​ |  | 178,651
Basic net income (loss) per share of Common Stock | ​ | $ | 0.96 | ​ | $ | (609.72) | ​ | $ | (696.05)
The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | FOR THE YEAR ENDED |  | FOR THE TRANSITION PERIOD ENDED
​ | ​ | June 30, 2025 | ​ | June 30, 2024
​ | ​ | Non- |  | ​ | ​ |  | Non-
​ | ​ | redeemable | ​ | Redeemable | ​ | redeemable
Diluted net income (loss) per common stock |  | ​ |  |  | ​ |  |  | ​ |
Numerator: |  | ​ |  |  | ​ |  |  | ​ |
Allocation of net income (loss), | ​ | $ | 5,750,820 | ​ | $ | (11,279,605) | ​ | $ | (124,349,773)
Change in fair value of financial instruments | ​ |  | (15,147,345) | ​ |  | — | ​ |  | —
Interest on dilutive instruments | ​ |  | 7,148,116 | ​ |  | — | ​ |  | —
Allocation of net income (loss), as adjusted | ​ | $ | (2,248,409) | ​ | $ | (11,279,605) | ​ | $ | (124,349,773)
Denominator: | ​ |  |  | ​ |  |  | ​ |  |
Dilutive weighted average common stock outstanding | ​ |  | 5,987,645 | ​ |  | 18,500 | ​ |  | 178,651
If converted shares | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ |  | 5,987,645 | ​ |  | 18,500 | ​ |  | 178,651
Diluted net income (loss) per common stock | ​ | $ | (0.38) | ​ | $ | (609.72) | ​ | $ | (696.05)
Schedule of dilutive instruments | ​
​ | ​ | ​ | ​ | ​
Description |  | June 30, 2025 |  | June 30, 2024
Sellers Notes |  | 15,103,895 | ​ | 14,012,965
Convertible notes |  | 5,317,252 | ​ | 4,722,875
Secured convertible note | ​ | 49,230,040 | ​ | 9,801,273
Subscription agreement | ​ | 4,354,048 | ​ | 938,967
Tau agreement | ​ | 35,282 | ​ | —
Promissory note |  | 6,215 | ​ | 379,375
Total Shares issuable under Convertible Note obligations – if converted total dilutive |  | 74,046,732 | ​ | 29,855,455
​ | ​ | ​ | ​ | ​
Public Warrants |  | 10,062,500 | ​ | 10,062,500
Private Warrants |  | 5,553,125 | ​ | 5,553,125
Secured convertible note warrants |  | 600,000 | ​ | 600,000
Total excluded under treasury method – out of the money |  | 16,215,625 | ​ | 16,215,625

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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