Share-Based Compensation (Tables)
|
12 Months Ended |
Jun. 30, 2025 |
|---|
| Share-Based Compensation |
|
| Schedule of Stock Option Issuances During Period |
Issuances of stock options during the year ended June 30, 2025 were as follows:
|
|
|
|
|
|
|
|
|
|
|
Grantee |
|
Plan |
|
# of Options |
|
Exercise Price |
|
Vesting |
|
Term |
Employees |
|
2023 Plan |
|
145,000 |
|
$1.92 - $3.91 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Consultant |
|
2023 Plan |
|
12,600 |
|
$2.45 |
|
Fully vested upon grant |
|
10 years |
Directors |
|
2023 Plan |
|
100,800 |
|
$2.45 |
|
Monthly over periods ranging from 12-36 months |
|
10 years |
Executive Officers |
|
2023 Plan |
|
386,400 |
|
$3.48 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Inducement Grant - Employee |
|
Other |
|
15,000 |
|
$1.81 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Professional Service Fee Grant |
|
Other |
|
20,000 |
|
$1.83 |
|
Quarterly over the first year |
|
5 years |
Total |
|
|
|
679,800 |
|
|
|
|
|
|
Issuances of stock options during the year ended June 30, 2024 were as follows:
|
|
|
|
|
|
|
|
|
|
|
Grantee |
|
Plan |
|
# of Options |
|
Exercise Price |
|
Vesting |
|
Term |
Employees |
|
2020 Plan |
|
14,650 |
|
$7.00 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Employees |
|
2023 Plan |
|
47,500 |
|
$1.72 - $2.41 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Employee |
|
2023 Plan |
|
55,000 |
|
$1.88 |
|
Quarterly over 3 years |
|
10 years |
Consultants |
|
2023 Plan |
|
399,000 |
|
$1.72 |
|
Quarterly over the first year |
|
5 years |
Executive Officers |
|
2020 Plan |
|
9,000 |
|
$7.00 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Executive Officers |
|
2023 Plan |
|
183,100 |
|
$1.72 - $1.88 |
|
25% 1st year and quarterly thereafter |
|
10 years |
Executive Officers |
|
2023 Plan |
|
200,000 |
|
$1.88 |
|
Quarterly over 3 years |
|
10 years |
Total |
|
|
|
908,250 |
|
|
|
|
|
|
|
| Schedule of Stock Option Activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
Weighted- |
|
average |
|
|
|
|
|
|
|
average |
|
Remaining |
|
Aggregate |
|
|
Stock |
|
Exercise |
|
Contractual |
|
Intrinsic Value |
|
|
Options |
|
Price |
|
Term (in years) |
|
(in thousands) |
Outstanding as of July 1, 2023 |
|
14,618 |
|
$ |
383.62 |
|
8.5 |
|
$ |
— |
Granted |
|
908,250 |
|
|
1.92 |
|
— |
|
|
— |
Exercised |
|
— |
|
|
— |
|
— |
|
|
— |
Forfeited/expired |
|
(10,742) |
|
|
164.15 |
|
— |
|
|
— |
Outstanding as of June 30, 2024 |
|
912,126 |
|
$ |
6.14 |
|
7.6 |
|
$ |
280 |
As of June 30, 2024, vested and expected to vest |
|
912,126 |
|
$ |
6.14 |
|
7.6 |
|
$ |
280 |
|
|
|
|
|
|
|
|
|
|
|
Exercisable as of June 30, 2024 |
|
6,471 |
|
$ |
459.08 |
|
7.2 |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
Outstanding as of July 1, 2024 |
|
912,126 |
|
$ |
6.14 |
|
7.6 |
|
$ |
280 |
Granted |
|
679,800 |
|
|
3.20 |
|
— |
|
|
— |
Exercised |
|
(73,100) |
|
|
1.79 |
|
— |
|
|
— |
Forfeited/expired |
|
(332,902) |
|
|
1.87 |
|
— |
|
|
— |
Outstanding as of June 30, 2025 |
|
1,185,924 |
|
$ |
5.92 |
|
9.2 |
|
$ |
— |
As of June 30, 2025, vested and expected to vest |
|
1,185,924 |
|
$ |
5.92 |
|
9.2 |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
Exercisable as of June 30, 2025 |
|
228,502 |
|
$ |
17.74 |
|
8.6 |
|
$ |
— |
|
| Schedule of Options Outstanding and Exercisable |
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding and Exercisable |
|
|
|
|
Weighted- |
|
Weighted- |
|
|
|
|
|
|
Average |
|
Average |
|
|
|
|
Number |
|
Remaining Life |
|
Exercise |
|
Number |
|
|
Outstanding |
|
In Years |
|
Price |
|
Exercisable |
Exercise prices: |
|
|
|
|
|
|
|
|
|
$1.72 - $2.80 |
|
643,400 |
|
8.8 |
|
$ |
2.01 |
|
212,651 |
$3.48 - $5.22 |
|
515,400 |
|
9.7 |
|
$ |
— |
|
— |
$7.00 - $10.50 |
|
17,450 |
|
8.2 |
|
$ |
7.00 |
|
7,628 |
$140.00 - $210.00 |
|
4,589 |
|
7.1 |
|
$ |
147.67 |
|
3,251 |
$347.00 - $520.50 |
|
1,190 |
|
6.2 |
|
$ |
355.66 |
|
1,190 |
$530.00 - $795.00 |
|
3,495 |
|
6.0 |
|
$ |
667.99 |
|
3,382 |
$1,025.00 - $1,537.50 |
|
400 |
|
5.3 |
|
$ |
1,025.00 |
|
400 |
|
|
1,185,924 |
|
9.2 |
|
$ |
17.74 |
|
228,502 |
|
| Schedule of Components of Share-Based Compensation Expenses in the Condensed Consolidated Statements of Operations and Comprehensive Loss |
|
|
|
|
|
|
|
|
|
Year Ended |
|
|
June 30, |
|
|
2025 |
|
2024 |
Research and development |
|
$ |
57 |
|
$ |
234 |
General and administrative |
|
|
1,473 |
|
|
1,741 |
Total |
|
$ |
1,530 |
|
$ |
1,975 |
|
| Schedule of Black-Scholes Option Pricing Model Assumptions Used in Determining Fair Value of Stock Options Granted |
|
|
|
|
|
|
|
2025 |
|
2024 |
Weighted-average risk-free interest rate |
3.41% - 4.33 |
% |
|
4.44% - 4.83 |
% |
Dividend yield |
0 |
% |
|
0 |
% |
Volatility |
233.93 - 248.81 |
% |
|
157.77 - 266.94 |
% |
Expected term (in years) |
5.7 |
|
|
5 |
|
|