Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.4
Stock-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2022
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 six months ended December 30, 2022 and 2021.

 

   

Three Months Ended

December 31,

    

Six Months Ended

December 31,

  
    2022     2021     2022     2021  
Risk-free interest rate     3.72% – 4.32 %     – %     2.87% – 4.32 %     0.79% – 1.1 %
Expected term (in years)     4.5 – 6.25       –       4.5 – 6.25       3.0 – 4.5  
Expected volatility     60.0 %     – %     50.0 – 60.0 %     50 %
Expected dividend yield     –     –       –       –  
Schedule of Stock Option Activity

The following table summarizes stock option activity for the six months ended December 31, 2022:

 

   

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     -     $ -                  
Outstanding at December 31, 2022     2,060,113     $ 4.55       4.2     $ 137,362  
Options exercisable at December 31, 2022     373,476     $ 2.86       3.2       75,625  
Schedule of Stock-Based Compensation Expenses

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

   

    2022     2021     2022     2021  
    Three Months Ended     Six Months Ended  
    December 31,     December 31,  
    2022     2021     2022     2021  
Research and development   $ -     $ 2,108     $ -     $ 11,988  
General and administrative     225,621       92,174       437,521       116,467  
Total stock-based compensation expense   $ 225,621     $ 94,282     $ 437,521     $ 128,455