XML 37 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net loss [1] $ (10,604,886) $ (10,190,932)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 970,117 974,355
Amortization of right-of-use assets 243,632 238,730
Impairment of long-lived assets 220,062
Non-cash loss on foreign currency translation, net 1,178
Provision for credit losses 546 6,772
Provision for inventory obsolescence 69,676
Stock-based compensation 238,045 230,496
Non-cash refund of R&D expenditure claims (137,696)
Fair value gain on revaluation of holdback Series C Preferred Stock (175,738)
Non-cash other operating activities 113,645 (24,177)
Changes in operating assets and liabilities:    
Accounts receivable (164,910) (135,843)
Inventories 142,322 202,370
Grant receivable / deferred grant income (2,486,668) 148,611
Research and development tax incentive receivable (209,076) (26,574)
Other current assets (329,404) 55,219
Accounts payable and accrued expenses 2,577,151 (632,950)
Long-term employee benefit liabilities 21,306 (364,149)
Operating lease liabilities (271,499) 51,387
Net cash used in operating activities (9,677,313) (9,571,569)
Cash Flows from Investing activities    
Purchase of property and equipment (231,838) (221,426)
Net cash used in investing activities (231,838) (221,426)
Cash flows from Financing Activities    
Proceeds from issuance of common stock and warrants, net of issuance costs 4,589,866 3,786,164
Proceeds from exercise of warrants, net of issuance costs 7,939 1,656,811
Proceeds from private placement, net of issuance costs 9,117,581
Net cash provided by financing activities 4,597,805 14,560,556
Effect of foreign exchange rates on cash and cash equivalents 27,157 (707)
Net decrease (increase) in cash and cash equivalents (5,284,189) 4,766,854
Cash and cash equivalents, beginning of period 6,304,098 1,537,244
Cash and cash equivalents, end of the period 1,019,909 6,304,098
Non-cash investing and financing activities    
Equity issuance costs in accounts payable and accrued expenses 14,999
Conversion of preferred shares into common shares 57,287
Conversion of holdback Series C Preferred Stock into common stock 32,762
Issuance of common stock upon cashless exercise of Series F warrants $ 55 $ 6,551
[1] Comparative amounts for the prior period have been reclassified to conform to current period presentations.