Loan and Security Agreement (Details Narrative) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Nov. 13, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
Common Stock [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Issuance of common stock, net of offering costs, shares | 300,000 | 2,264,650 | |
Loan And Sercurity Agreement [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Line of credit borrowings capacity, descripition | the Company entered into an LSA with 22NW, LP (“22NW”) and JFL Capital Management LLC (“JFL” and collectively with 22NW, the “Lenders”) which will allow the Company to draw up to $10 million (the “Facility Amount”) as needed to fund future operations until the third anniversary of the LSA (the “Maturity Date”). Pursuant to the LSA, if the Company elects to draw on the Facility Amount (an “Advance”), JFL has the right, but not the obligation to fund 50% of the Advance at the request of the Company. If JFL elects not to fund 50% of the Advance, then 22NW will fund 100% of the Advance. The outstanding balance will accrue interest at 0.25% per annum and no fee will be assessed on the unused balance. Upon the draw of at least $3 million in the aggregate, the LSA will be collateralized by substantially all of the Company’s assets. | ||
Line of credit maximum borrowings capacity | $ 10 | ||
Line of credit interest rate | 0.25% | ||
Line of credit maximum borrowings capacity | $ 3 | ||
Loan And Sercurity Agreement [Member] | Common Stock [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Issuance of common stock, net of offering costs, shares | 300,000 | ||
Share price | $ 0.03 | ||
Loan And Sercurity Agreement [Member] | Common Stock [Member] | First Advance [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Issuance of common stock, net of offering costs, shares | 50,000 |