XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from Operating Activities    
Net loss $ (7,502,270) $ (7,395,572)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 726,206 746,508
Amortization of right-of-use assets 181,371 178,891
Provision for inventory obsolescence 69,279
Share-based compensation 226,045 218,305
Non-cash refund of research and development (R&D) expenditure claims (156,011) (112,293)
Fair value gain on revaluation of holdback Series C Preferred Stock (175,738)
Non-cash other operating activities 82,288 14,812
Changes in operating assets and liabilities:    
Accounts receivable (81,259) (66,040)
Inventories 94,049 102,002
Grant receivable / deferred grant income (207,987)
Research and development tax incentive receivable 5,020 166,287
Other current assets (87,884)
Accounts payable and accrued expenses (554,849) (214,308)
Long-term employee benefit liabilities 9,057 5,384
Operating lease liabilities (201,132) (165,072)
Net cash used in operating activities (7,467,356) (6,627,555)
Cash flows from Investing Activities    
Amount invested on construction in progress (23,321) (54,118)
Net cash used in investing activities (23,321) (54,118)
Cash flows from Financing Activities    
Proceeds from issuance of common stock and warrants, net of issuance costs 3,987,869 3,786,164
Proceeds from exercise of warrants, net of issuance costs 7,939 1,651,498
Proceeds from private placement, net of issuance costs 9,117,581
Net cash provided by financing activities 3,995,808 14,555,243
Effect of foreign exchange rates on cash and cash equivalents (2,117) (13,291)
Net (decrease) increase in cash and cash equivalents (3,496,986) 7,860,279
Cash and cash equivalents, beginning of period 6,304,098 1,537,244
Cash and cash equivalents, end of period 2,807,112 9,397,523
Non-cash investing and financing activities    
Equity issuance costs in accounts payable and accrued expenses 148,205 185,688
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 $ 6 $ 6,551