Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.23.3
Stock-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2023
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 fiscal years ended June 30, 2023 and 2022:

 

    June 30, 2023      June 30, 2022  
Expected volatility     50.0% - 60.0 %     50 %
Risk-free interest rate     2.87% - 4.32 %     0.79% - 2.97 %
Expected dividend yield            
Expected term (in years)     4.5-6.25       3.04.5  
Schedule of Stock Option Activity

The following table summarizes stock option activity for the fiscal year ended June 30, 2023:

 

   

Number of

Shares

   

Weighted

Average Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term

(Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at June 30, 2022     1,911,459     $ 4.63       4.4       -  
Granted     172,654     $ 3.31                  
Exercised     (24,000 )   $ 2.18                  
Forfeited     (10,800 )   $ 6.00                  
Outstanding at June 30, 2023     2,049,313     $ 4.54       3.7     $ 96,734  
Options exercisable at June 30, 2023     829,112     $ 4.29       3.3     $ 63,458  
Schedule of Stock- Based Compensation Expenses

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

 

    2023     2022  
    June 30,  
    2023     2022  
Research and development   $ -     $ 26,604  
General and administrative     884,723       454,057  
Total   $ 884,723     $ 480,661