Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.2.2
Stock-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions of Stock Options

The following table provides the assumptions used in determining the fair value of option awards for the years ended June 30, 2022 and 2021:

 

    June 30, 2022      June 30, 2021  
Expected volatility     50 %     49.6% - 50.9 %
Risk-free interest rate     0.79% - 2.97 %     0.13% - 0.64 %
Expected dividend yield          
Expected term (in years)     3.04.5       2.53.6  
Schedule of Stock Awards Granted

The following table summarizes stock option activity for the year ended June 30, 2022:

 

   

Number of

Shares

   

Weighted

Average Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term

(Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at June 30, 2021     604,404     $ 2.18                  
Granted     1,307,055     $ 5.76                  
Exercised     -     $ -                  
Forfeited     -     $ -                  
Outstanding at June 30, 2022     1,911,459     $ 4.63       4.4     $ 2,625,173  
Options exercisable at June 30, 2022     304,914     $ 2.55       3.7     $ 848,665  
Schedule of Restricted Stock-based Awards Granted but Not Yet Vested

   

Number of

Shares

   

Weighted Average

Grant Date

Fair Value

 
Unvested as of June 30, 2020     -     $ -  
Issued     982,500       0.11  
Vested     (982,500 )     0.11  
Unvested as of June 30, 2021     -     $ -  
Schedule of Stock- Based Compensation Expenses

The Company recorded stock-based compensation expenses for the following years ended:

 

    2022     2021  
    June 30,  
    2022     2021  
Research and development     26,604       12,598  
General and administrative     454,057       187,349  
Total     480,661       199,947