Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.24.1.1.u2
Stock-Based Compensation (Tables)
 9 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions of Stock Options

The following table summarizes the range of key assumptions used to determine the fair value of stock options granted during the three and nine months ended March 31, 2024 and 2023.

 

   

Three Months Ended

March 31,

    

Nine Months Ended

March 31,

  
    2024     2023     2024     2023  
Risk-free interest rate     4.27 %     – %     4.27%-4.77 %     2.87% – 4.32 %
Expected term (in years)     6.25       –       6.25       4.5 – 6.25  
Expected volatility     60 %     – %     60 %     50.0% – 60.0 %
Expected dividend yield     –       –       –       –  
Schedule of Stock Option Activity

The following table summarizes stock option activity for the nine months ended March 31, 2024:

 

   

Number

of

Shares

    

Weighted

Average Exercise

Price

    

Weighted

Average

Remaining

Contractual

Term

(Years)

    

Aggregate

Intrinsic

Value

  
                         
Outstanding at June 30, 2023     2,049,313     $ 4.54       3.7       -  
Granted     848,710     $ 3.00                  
Exercised     -     $ -                  
Forfeited/cancelled     (889,838 )   $ 6.24                  
Outstanding at March 31, 2024     2,008,185     $ 3.13       5.6     $ 352,930  
Options exercisable at March 31, 2024     705,694     $ 3.16       2.8     $ 274,934