Quarterly report pursuant to Section 13 or 15(d)

Convertible Promissory Note Receivable

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Convertible Promissory Note Receivable
9 Months Ended
Mar. 31, 2021
Convertible Promissory Note Receivable [Abstract]  
Convertible Promissory Note Receivable

5.   Convertible Promissory Note Receivable

On October 1, 2020, the Company entered into a master services agreement with Safi Biosolutions, Inc. (“Safi”). In addition, the Company invested $1.5 million in Safi in the form of a convertible promissory note (the "Note"). The Note bears interest at the rate of 5% per annum and is convertible into shares of Safi’s common stock (as defined). Principal and accrued interest mature on October 1, 2023.  For the three and nine months ended March 31, 2021, interest income amounted to $18,000 and $37,000, respectively. As of March 31, 2021, the Note balance and accrued interest totaled $1,537,000.