Balance Sheet

v3.24.0.1

Condensed Balance Sheets - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 6,644,517	$ 11,247,403
Prepaid expenses	171,740	422,748
Total current assets	6,816,257	11,670,151
Other assets:
Loan commitment fees	684,516
Total assets	7,500,773	11,670,151
Current liabilities:
Accounts payable	318,679	534,545
Accrued expenses	694,877	534,256
Total liabilities	1,013,556	1,068,801
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 2,000,000 shares authorized, no shares issued or outstanding at December 31, 2023 and June 30, 2023
Common stock, $0.001 par value; 50,000,000 and 40,000,000 shares authorized at December 31, 2023 and June 30, 2023, respectively; 25,933,217 and 25,633,217 shares issued and outstanding at December 31, 2023 and June 30, 2023, respectively	25,934	25,634
Additional paid-in capital	68,861,516	67,777,757
Accumulated deficit	(62,400,233)	(57,202,041)
Total stockholders’ equity	6,487,217	10,601,350
Total liabilities and stockholders’ equity	$ 7,500,773	$ 11,670,151

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Source